Document:

Employment Agreement

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  
 This Employment Agreement (“Agreement”), dated as of January 3, 2006, is made and entered into by CAPITAL BANK (hereinafter the “Bank”), and A.
CHRISTINE BAKER (hereinafter the “Employee”). 
  
 Capital Bank Corporation, a North Carolina corporation and a financial holding company registered with the Board of Governors of the Federal Reserve System under the Bank Holding Company Act of 1956, as amended, and a North Carolina bank
holding company (“CBC”), and 1st State Bancorp, Inc., a Virginia corporation and a holding company registered with the Board of Governors of the Federal Reserve System under the Bank Holding Company Act of 1956, as amended, and a North
Carolina bank holding company (the “Company”), are parties to that certain Merger Agreement dated June 29, 2005 pursuant to which the Company is being merged (the “Merger”) with and into CBC effective as of the date of this
Agreement (the “Effective Time”). Following the Merger, CBC may elect to merge (the “Bank Merger”) 1st State Bank, a North Carolina bank and, as a result of the Merger, a wholly owned subsidiary of CBC (the “Company
Bank”), and the Bank, a North Carolina bank and a wholly owned subsidiary of CBC. 
  
 The Bank desires to employ Employee and Employee desires to accept such employment on the terms set forth below. 
  
 In consideration of the mutual promises set forth below and other good and valuable consideration, the receipt and sufficiency of which the parties
acknowledge, the Bank and Employee agree as follows: 
  
 1.
Employment. The Bank employs Employee and Employee accepts employment on the terms and conditions set forth in this Agreement. 
  
 2. Nature Of Employment. Employee shall serve as Executive Vice President and Chief Financial Officer and shall have such responsibilities
and authority consistent with such position as may be reasonably assigned to her by the Bank. Employee shall also serve as Executive Vice President and Chief Financial Officer of CBC. Employee shall devote her full time and attention and best
efforts to perform successfully her duties and advance the Bank’s interests. Employee shall abide by the Bank’s policies, procedures, and practices as they may exist from time to time. 
  
 During this employment, Employee shall have no other employment of any nature
whatsoever without the prior consent of the Bank; provided, however, this Agreement shall not prohibit Employee from personally owning and dealing in stocks, bonds, securities, real estate, commodities or other investment properties for her own
benefit or those of her immediate family. Notwithstanding the foregoing, Employee shall also continue to serve as Executive Vice President and Chief Financial Officer of the Company Bank, on an “at will” basis, pending completion of the
Bank Merger. 

 3. Term. Subject to the earlier termination provisions set forth in Section 5, the
original term of this Agreement shall be one (1) year commencing at the Effective Time, and terminating on the first anniversary of the Effective Time, and, upon expiration of the original term or any renewal term, the term shall be
automatically renewed for an additional one (1) year period unless, at least thirty (30) days prior to the renewal date, either party gives notice of its intent not to continue the relationship. During any renewal term, the terms,
conditions and provisions set forth in this Agreement shall remain in effect unless modified in accordance with Section 11. 
  
 4. Compensation and Benefits. 
  
 (a) Base Salary. Employee’s initial annual base salary for all services rendered shall be One Hundred Eight-Five
Thousand and No/100 Dollars ($185,000) (less applicable withholdings), payable in accordance with the Bank’s policies, procedures, and practices as they may exist from time to time. Employee’s salary periodically may be reviewed and
adjusted at the Bank’s discretion in accordance with the Bank’s policies, procedures and practices as they may exist from time to time. 
  
 (b) Incentive Plan. Employee shall be eligible to participate in the Bank’s Management Incentive Plan in accordance
with the applicable terms, conditions, and eligibility requirements of that Plan, some of which are in the plan administrator’s discretion, as they may exist from time to time. 
  
 (c) Benefits. Employee may participate in any medical insurance or other employee benefit
plans and programs which may be made available from time to time to other Bank employees at Employee’s level; provided, however, that Employee’s participation in such benefit plans and programs is subject to the applicable terms,
conditions, and eligibility requirements of those plans and programs, some of which are within the plan administrator’s discretion, as they may exist from time to time. 
  
 (d) Expenses. Employee shall be reimbursed by the Bank for any reasonable and necessary
business expenses incurred by Employee on behalf of the Bank or in connection with Employee’s performance of her duties hereunder. Such reimbursement shall be in accordance with the Bank’s practices or policies as they may exist from time
to time. 
  
 (e) Vacation. Employee
shall be entitled to four (4) weeks of vacation during calendar year 2006 and thereafter vacation entitlement shall be in accordance with the Bank’s policies. Such vacation shall be taken in accordance with the Bank’s policies and
practices as they may exist from time to time. 
  
 5.
Termination of Employment and Post-Termination Compensation. 
  
 (a) With Notice. Either the Bank or Employee may terminate the employment relationship at any time for any reason or no reason by giving thirty (30) days’ written notice to the other party.

  

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 (b) Cause, Disability, or Death. The Bank may terminate Employee’s
employment immediately for “Disability,” “Cause,” or in the event of Employee’s death. For purposes of this Agreement, Disability shall mean Employee’s mental or physical inability to perform the essential functions of
her duties satisfactorily for a period of one hundred eighty (180) consecutive days or one hundred eighty (180) days within a 365-day period as determined by the Bank in its reasonable discretion and in accordance with applicable law. For
purposes of this Agreement, “Cause” shall mean: (i) any act of Employee involving dishonesty; (ii) any material violation by Employee of any Bank rule, regulation, or policy; (iii) gross negligence committed by
Employee; (iv) material failure of Employee to perform her duties hereunder; or (v) Employee’s breach of any of the express obligations of this Agreement. 
  
 (c) Post-Termination Compensation. 
  
 (i) In the event of termination for Cause or
termination upon the expiration of the original or any renewal term of this Agreement (non-renewal), the Bank’s obligation to compensate Employee ceases on the date of termination except as to the amounts of salary due at that time. 

 
 (ii) In the event of a termination for death or
Disability, the Bank’s obligation to compensate Employee ceases on the date of termination, except as to any salary and prorated bonuses to which she may be entitled as of the date of termination. The Bank shall pay any such amounts to Employee
or Employee’s estate. 
  
 (iii) If,
prior to expiration of the original or any renewal term of this Agreement, the Bank terminates Employee’s employment without Cause or Employee terminates her employment for Good Reason (as defined below), then Employee upon her execution of an
enforceable general release in a form prepared by the Bank shall be entitled to (A) receive a gross amount equal to her then current annual base salary plus the amount of bonus paid to Employee by the Bank (excluding any bonus paid by
1st State Bank or 1st State Bancorp, Inc.), if any, in the prior bonus year with the Bank, payable in substantially equal amounts over the twelve (12) month period following such termination; and (B) for
the period of time Employee receives payments pursuant to Section 5(c)(iii)(A), participate in all life insurance, retirement, health, accidental death and dismemberment, and disability plans and other benefit programs and other services paid
by the Bank for Employee in which Employee participates immediately prior to the termination, provided that Employee’s continued participation is possible under the applicable terms, conditions and eligibility requirements of such plans and
programs. Employee’s continued participation in such plans and programs shall be at no greater cost to Employee than the cost she bore for such participation immediately prior to termination. If Employee’s participation in any such plan or
program is barred, the Bank shall arrange upon comparable terms, and at no greater cost to Employee than the cost she bore for such plans and programs prior to termination, to provide Employee with benefits substantially similar to, or greater than,
those which she is entitled to receive under any such plan or program. 
  
 For purposes of this Section 5(c), Good Reason shall mean the occurrence of any of the following events or conditions without Employee’s prior written consent: 
  

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 (A) a change in Employee’s status, title, position, or responsibilities
(including reporting responsibilities) which represents a material adverse change from her status, title, position, or responsibilities in effect immediately prior thereto; the assignment to Employee of any duties or responsibilities which are
materially inconsistent with her status, title, position or responsibilities; or any removal of Employee from or failure to reappoint or re-elect her to any of such positions, status, or title (including positions, titles, and responsibilities with
any affiliate), except in connection with the termination of her employment for Disability, Cause, or death, or by Employee other than for Good Reason; 
  
 (B) the Bank’s requiring Employee to be based at any place outside a thirty (30) mile radius from Raleigh, North
Carolina, except for reasonably required travel on the Bank’s business; 
  
 (C) any material breach by the Bank of any express provision of this Agreement. 
  
 6. Non-Solicitation/Non-Compete. Employee acknowledges that by virtue of Employee’s employment with the Bank, Employee shall have
access to and control of confidential and proprietary information concerning the Bank’s and/or its parents’, subsidiaries’ or affiliates’ (collectively, the “Corporation”) business and that the Corporation’s
business depends to a considerable extent on the individual skills, efforts, and leadership of Employee. Additionally, Employee acknowledges that the covenants contained in this Section 6: are reasonably necessary to protect the legitimate
business interests of the Corporation; are described with sufficient accuracy and definiteness to enable her to understand the scope of the restrictions imposed on her; and were disclosed to her prior to the commencement of her employment, such
employment being conditioned on her execution of an agreement containing such terms. Accordingly and in consideration of the Corporation’s commitments to Employee under this Agreement, Employee expressly covenants and agrees that Employee shall
not, without the prior consent of the Bank, during her employment and, subject to Section 6(c) below, for one (1) year following the cessation of her employment regardless of the reason for the cessation, 
  
 (a) on Employee’s own or another’s behalf,
whether as an officer, director, stockholder, partner, associate, owner, employee, consultant or otherwise: 
  
 (i) within any city, metropolitan area or county in which the Corporation does business or is located, engage in any business
activity (or assist others to engage in any business activity) that directly competes with the Corporation; 
  
 (ii) solicit or do business that is the same, similar to, or otherwise in competition with the business engaged in by the
Corporation from or with persons or entities who are customers of the Corporation, who were customers of the Corporation at any time during the last year of Employee’s employment with the Bank, or to whom the Corporation made proposals for
business at any time during the last year of Employee’s employment with the Bank; or 
  

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 (iii) employ, offer employment to, or otherwise solicit for employment, any
employee or other person who is then currently an employee of the Corporation or who was employed by the Corporation during the last year of Employee’s employment with the Bank. 
  
 (b) within any city, metropolitan area or county in which the Corporation does business or is
located, be employed or otherwise engaged by any entity that engages in the same, similar or otherwise competitive business as the Corporation, to provide the same or similar services that Employee provided to the Corporation. 
  
 (c) (i) If (A) the Bank terminates
Employee’s employment without Cause or Employee terminates her employment for Good Reason and (B) Employee waives in writing her right to receive payments pursuant to Section 5(c)(iii) hereof, the restrictions on Employee’s
ability to compete with the Bank contained in this Section 6 shall terminate on the later of (A) the cessation of Employee’s employment with the Bank or (B) the Bank’s receipt of Employee’s waiver described in this
Section 6(c)(i). (ii) In the event that Employee’s employment terminates under any of the circumstances described in Section 8(b), the restrictions on Employee’s ability to compete with the Bank contained in this
Section 6 shall terminate six (6) months following cessation of Employee’s employment with the Bank. 
  
 7. Proprietary Information And Property. Employee shall not, at any time during or following employment with the Bank, disclose or use,
except in the course of her employment with the Bank or as may be required by law, any confidential or proprietary information of the Corporation received by Employee, whether such information is in Employee’s memory or embodied in writing or
other physical form. 
  
 Confidential or proprietary information
is information which is not generally available to the general public, or Corporation’s competitors, or ascertainable through common sense or general business knowledge; including, but not limited to data, compilations, methods, financial data,
financial plans, business plans, product plans, lists of actual or potential customers, marketing information and information regarding executives and employees. 
  
 All records, files or other objects maintained by or under the control, custody or possession of the Corporation or its
agents in their capacity as agents shall be and remain the Corporation’s property. Upon cessation of her employment or the Corporation’s earlier request, Employee shall return to the Corporation all property (including, but not limited to,
credit cards, keys, company car, cell phones, computer hardware and software, records, files, manuals and other documents in whatever form they exist, whether electronic, hard copy or otherwise and all copies, notes or summaries thereof) which she
received in connection with her employment. At the Corporation’s request, Employee shall bring current all such records, files or documents before returning them. 
  
 Upon notice of cessation of her employment with the Bank, Employee shall fully cooperate with the Bank in winding up her
pending work and transferring her work to those individuals designated by the Bank. 
  

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 8. Change in Control. 
  
 (a) Definition. For purposes of this Agreement, “Change in Control” shall mean any
of the following: 
  
 (i) Any
“person” (as such term is used in Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Act”)) acquiring “beneficial ownership”) (as such term is used in Rule 13d-3 under the Act),
directly or indirectly, of securities of Capital Bank Corporation, the parent holding company of the Bank (“CBC”) representing fifty percent (50%) or more of the combined voting power of CBC’s then outstanding voting securities
(the “Voting Power”), but excluding for this purpose an acquisition by CBC or an “affiliate” (as defined in Rule 12b-2 under the Act) or by an employee benefit plan of CBC or of an affiliate. 
  
 (ii) The individuals who constitute the Board of
Directors of CBC (“Board”) on the effective date hereof or their successors duly appointed in the ordinary course (collectively, the “Incumbent Directors”) cease to constitute at least a majority of the Board. Any director whose
nomination is approved by a majority of the Incumbent Directors shall be considered an Incumbent Director; provided, however, that no Director whose initial assumption of office is in connection with an actual or threatened election contest relating
to the election of the directors of CBC shall be considered an Incumbent Director. 
  
 (iii) The shareholders of CBC approve a reorganization, share exchange, merger or consolidation related to CBC or the Bank
following which the owners of the Voting Power of CBC immediately prior to the closing of such transaction do not beneficially own, directly or indirectly, more than fifty percent (50%) of the Voting Power of the Bank. 
  
 (iv) The shareholders of the Bank approve a complete
liquidation or dissolution of the Bank, or a sale or other disposition of all or substantially all of the capital stock or assets of the Bank, but excluding for this purpose any sale or disposition of all or substantially all of the capital stock or
assets of the Bank to an “affiliate” (as defined in Rule 12b-2 under the Act) of CBC. 
  
 Change in Control shall not include a transaction, or series of transactions, whereby CBC or the Bank becomes a subsidiary of a holding company if the shareholders of the holding company are substantially the same as
the shareholders of CBC prior to such transaction or series of series of transactions. 
  
 (b) Change in Control Termination. After the occurrence of a Change in Control, Employee shall be entitled to receive
payments and benefits pursuant to this Agreement in the following circumstances: 
  

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 (i) if within the period beginning ninety (90) days prior to and ending three
(3) years after the occurrence of a Change in Control, the Bank terminates Employee’s employment for any reason other than Cause, Disability, or death; or 
  
 (ii) if within three (3) years after the occurrence of a Change in Control, Employee terminates
her employment with the Bank for Good Reason. For purposes of this Section 8(b), Good Reason shall include the failure of CBC to obtain an agreement, satisfactory to Employee, from any successor or assign of CBC to assume and agree to perform
this Agreement. 
  
 (c) Change in Control
Benefits. In the event that Employee’s employment with the Bank terminates under any of the circumstances described above in this Section 8 at any time, Employee shall be entitled to receive all accrued compensation and any pro
rata bonuses to which she may be entitled and which Employee may have earned up to the date of termination and, upon Employee’s execution of an enforceable general release in a form prepared by the Bank, severance payments and benefits
according to the following schedule and terms: 
  
 (i) a severance payment equal to: 2.99 times the amount of Employee’s then current annual base salary plus the amount of bonus paid to Employee, if any, in the prior bonus year by the Bank (excluding any bonus paid by
1st State Bank or 1st State Bancorp, Inc.), in the event the termination occurs no later than twelve (12) months after the occurrence of a Change in Control; 2.0 times the amount of Employee’s then current annual
base salary plus the amount of bonus paid to Employee, if any, in the prior bonus year by the Bank (excluding any bonus paid by 1st State Bank or 1st State Bancorp, Inc.), in the event the termination occurs more than twelve
(12) months but within (up to and including) twenty-four (24) months after the occurrence of a Change in Control; or 1.0 times the amount of Employee’s then current annual base salary plus the amount of bonus paid to Employee, if any,
in the prior bonus year by the Bank (excluding any bonus paid by 1st State Bank or 1st State Bancorp, Inc.), in the event the termination occurs more than twenty-four (24) months but within (up to and
including) thirty-six (36) months after the occurrence of a Change in Control. The severance payment shall be paid in substantially equal monthly installments without interest, commencing one month after the date of termination. 
  
 (ii) a continuation of benefits for the period of
time Employee receives the severance benefits described in Section 8(c)(i) above as follows: During such time, the Bank shall maintain and Employee shall be entitled to participate in all life insurance, retirement, health, accidental death and
dismemberment, and disability plans and other benefit programs and other services paid by the Bank for Employee in which Employee participated immediately prior to the termination, provided that Employee’s continued participation is possible
under the applicable terms, conditions and eligibility requirements of such plans and programs. Employee’s continued participation in such plans and programs shall be at no greater cost to Employee than the cost she bore for such participation
immediately prior to termination. If Employee’s participation in any such plan or program is barred, the Bank shall arrange upon comparable terms, and at no greater cost to Employee than the cost she bore for such plans and programs prior to
termination, 

  

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to provide Employee with benefits substantially similar to, or greater than, those which he is entitled to receive under any such plan or program; and

  
 (iii) a lump sum payment (or otherwise
as specified by Employee to the extent permitted by the applicable plan) of any and all amounts contributed to a Bank pension or retirement plan which Employee is entitled to under the terms of any such plan. In the event Employee fails to execute
the general release described above, he shall receive any such payments in accordance with the payment provisions of the applicable plan(s). 
  
 (d) Limitation on Payments. To the extent that any of the payments and benefits provided for under this Agreement or
otherwise payable to Employee constitute “parachute payments” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and but for this Section 8 would be subject to the excise
tax imposed by Section 4999 of the Code, the Bank shall reduce the aggregate amount of such payments and benefits such that the present value thereof (as determined under the Code and the applicable regulations) is equal to 2.99 times
Employee’s “base amount” as defined in Section 280G(b)(3) of the Code. 
  
 9. Survival. The terms and conditions of Sections 6 and 7 shall survive termination of this Agreement and/or Employee’s employment and shall not be affected by any change or modification of this
Agreement unless specific reference is made to such sections. 
  
 10. Remedies. Employee agrees that her breach or threatened violation of Sections 6 and 7, will result in immediate and irreparable harm to the Corporation for which legal remedies would be inadequate. Therefore, in addition
to any legal or other relief to which the Corporation may be entitled, (a) the Corporation may seek legal and equitable relief, including but not limited to, preliminary and permanent injunctive relief, (b) the Corporation
will be released of its obligations under this Agreement, including but not limited to, payments pursuant to Section 5, and (c) Employee will indemnify the Corporation for all expenses, including attorneys’ fees, in seeking to
enforce these paragraphs. 
  
 11. Waiver Of Breach.
The Bank’s or Employee’s waiver of any breach of a provision of this Agreement shall not waive any subsequent breach by the other party. 
  
 12. Entire Agreement. This Agreement: (i) supersedes all other understandings and agreements, oral or written, between the parties with
respect to the subject matter of this Agreement; and (ii) constitutes the sole agreement between the parties with respect to this subject matter. Each party acknowledges that: (i) no representations, inducements, promises or agreements,
oral or written, have been made by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement; and (ii) no agreement, statement or promise not contained in this Agreement shall be valid. No change or
modification of this Agreement shall be valid or binding upon the parties unless such change or modification is in writing and is signed by the parties. 
  
 13. Severability. If a court of competent jurisdiction holds that any provision or sub-part thereof contained in this Agreement is invalid,
illegal or unenforceable, that invalidity, 

  

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illegality or unenforceability shall not affect any other provision in this Agreement. Additionally, if any of the provisions, clauses or phrases set forth
in Section 6 or 7 of this Agreement are held unenforceable by a court of competent jurisdiction, then the parties desire that such provision, clause or phrase be “blue-penciled” or rewritten by the court to the extent necessary to
render it enforceable. 
  
 14. Parties Bound.
The terms, provisions, covenants and agreements contained in this Agreement shall apply to, be binding upon and inure to the benefit of the Bank’s successors and assigns. The Bank, at its discretion, may assign this Agreement. Employee may not
assign this Agreement without the Bank’s prior written consent. 
  
 15. Governing Law. This Agreement and the employment relationship created by it shall be governed by North Carolina law. The parties hereby consent to exclusive jurisdiction in North Carolina for the purpose of any litigation
relating to this Agreement and agree that any litigation by or involving them relating to this Agreement shall be conducted in the court of Wake County or the federal court of the United States for the Eastern District of North Carolina. 

 
 [Signature Page Follows] 
  

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 [Signature Page to Employment Agreement] 
  
 IN WITNESS WHEREOF, the parties have entered into this Agreement on
the day and year written below. 
  
  

							
	 	 	 EMPLOYEE
	  	 
			
	 	 	/s/ A. Christine Baker	  	January 3, 2006
	 	 	A. Christine Baker	  	Date
			
	 	 	 	  	 
			
	 	 	 CAPITAL BANK 
	  	 
				
	 	 	By:	 	/s/ B. Grant Yarber	  	January 3, 2006
	 	 	 	 	 Name: B. Grant Yarber
 Title:   President and
             Chief Executive Officer 
	  	Date
			
	 	 	 	  	 
			
	 	 	 CAPITAL BANK CORPORATION 
	  	 
				
	 	 	By:	 	/s/ B. Grant Yarber	  	January 3, 2006
	 	 	 	 	 Name: B. Grant Yarber
 Title:   President and
             Chief Executive Officer 
	  	DateFORM OF SUPPLEMENTAL INDENTURE

 Exhibit 4.2 
  

VIRGINIA ELECTRIC AND POWER COMPANY 
 Issuer

  
 AND 
  
 JPMORGAN CHASE BANK, N.A. 
 (formerly known as The Chase Manhattan Bank) 
 Trustee 
  

  
 _____________ Supplemental Indenture 
  
 Dated as of __________ ___, 200__ 
  

  
 $_____________ 
  
 200__ Series __ ____% Senior Notes 
  
 Due _______ 

 TABLE OF CONTENTS* 
  

					
	 ARTICLE I
 200__ SERIES __ ____% SENIOR NOTES

			
	 SECTION 101.
	  	 Establishment
	  	1
	 SECTION 102.
	  	 Definitions
	  	2
	 SECTION 103.
	  	 Payment of Principal and Interest
	  	4
	 SECTION 104.
	  	 Denominations
	  	5
	 SECTION 105.
	  	 Global Securities
	  	5
	 SECTION 106.
	  	 Redemption
	  	6
	 SECTION 107.
	  	 Sinking Fund
	  	6
	 SECTION 108.
	  	 Additional Interest
	  	6
	 SECTION 109.
	  	 Paying Agent
	  	7
	
	ARTICLE II
	MISCELLANEOUS PROVISIONS
			
	 SECTION 201.
	  	 Recitals by Company
	  	7
	 SECTION 202.
	  	 Ratification and Incorporation of Original Indenture
	  	7
	 SECTION 203.
	  	 Executed in Counterparts
	  	7
	 SECTION 204.
	  	 Assignment
	  	7

	*	This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of any of its terms and provisions. 

 THIS ___________ SUPPLEMENTAL INDENTURE is made as of the first day of ____________, 200__, by and
between VIRGINIA ELECTRIC AND POWER COMPANY, a Virginia corporation, having its principal office at 701 East Cary Street, Richmond, Virginia 23219 (the “Company”), and JPMORGAN CHASE BANK, N.A. (formerly known as The Chase Manhattan Bank),
a national banking association, as Trustee (herein called the “Trustee”). 
  
 WITNESSETH: 
  
 WHEREAS, the
Company has heretofore entered into a Senior Indenture, dated as of June 1, 1998 (the “Original Indenture”), as heretofore supplemented and amended, with the Trustee; 
  
 WHEREAS, the Original Indenture is incorporated herein by this reference and the Original Indenture, as heretofore
supplemented and amended and as further supplemented by this _____________ Supplemental Indenture, is herein called the “Indenture”; 
  
 WHEREAS, under the Original Indenture, a new series of Securities may at any time be established in accordance with the provisions of the Original
Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Trustee; 
  
 WHEREAS, the Company proposes to create under the Indenture a series of Securities; 
  
 WHEREAS, additional Securities of other series hereafter established, except as may be limited in the Original Indenture as
at the time supplemented and modified, may be issued from time to time pursuant to the Indenture as at the time supplemented and modified; and 
  
 WHEREAS, all conditions necessary to authorize the execution and delivery of this _____________ Supplemental Indenture and to make it a valid and binding
obligation of the Company have been done or performed. 
  
 NOW,
THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
  
 ARTICLE I 
 200__ SERIES __ ____% SENIOR NOTES DUE ________ 
  
 SECTION 101. Establishment. There is hereby established a new series of Securities to be issued under the Indenture, to be designated as the
Company’s 200__ Series __ ____% Senior Notes Due _____, (the “Series __ Senior Notes”). 
  
 There are to be initially authenticated and delivered $__________ principal amount of Series __ Senior Notes, and such principal amount of the Series __
Senior Notes may be increased from time to time pursuant to Section 301 of the Indenture. All Series __ Senior Notes need not be issued at the same time and such series may be reopened at any time, without the consent of any Holder, for
issuances of additional Series __ Senior Notes. Any such additional 

 
Series __ Senior Notes will have the same interest rate, maturity and other terms as those initially issued. Further Series __ Senior Notes may also be
authenticated and delivered as provided by Sections 304, 305, 306, 906 and 1106 of the Original Indenture. 
  
 The Series __ Senior Notes shall be issued in definitive fully registered form without coupons, in substantially the form set out in Exhibit A
hereto. The entire initially issued principal amount of the Series __ Senior Notes shall initially be evidenced by one or more certificates issued to Cede & Co., as nominee for The Depository Trust Company. 
  
 The form of the Trustee’s Certificate of Authentication for the Series
__ Senior Notes shall be in substantially the form set forth in Exhibit B hereto. 
  
 Each Series __ Senior Note shall be dated the date of authentication thereof and shall bear interest from the date of original issuance thereof or from the most recent Interest Payment Date to which interest has been
paid or duly provided for. 
  
 SECTION 102. Definitions.
The following defined terms used herein shall, unless the context otherwise requires, have the meanings specified below. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Original
Indenture. 
  
 “Adjusted Treasury Rate” means, with
respect to any Redemption Date: (i) the yield, under the heading which represents the average for the immediately preceding week, appearing in the most recently published statistical release designated “H.15(519)” or any successor
publication which is published weekly by the Board of Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant
Maturities,” for the maturity corresponding to the Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable
Treasury Issue shall be determined and the Adjusted Treasury Rate shall be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not
published during the week preceding the calculation date or does not contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury
Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such Redemption Date. 
  
 “Business Day” means a day other than (i) a Saturday or a Sunday, (ii) a day on which banks in New York, New York are authorized or
obligated by law or executive order to remain closed or (iii) a day on which the Corporate Trust Office is closed for business. 
  
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Series __ Senior Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Series __ Senior Notes. 
  

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 “Comparable Treasury Price” means (i) the average of the Reference Treasury Dealer
Quotations for any Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations, the average of all
such quotations. 
  
 “Independent Investment Banker”
means _______________ or _________________ and their respective successors as selected by the Company, or if none of such firms is willing or able to serve as such, an independent investment and banking institution of national standing appointed by
the Company. 
  
 “Interest Payment Dates” means
__________ ___ and ____________ ___ of each year, commencing on ___________ ___, 200__. 
  
 “Optional Redemption Price” has the meaning specified in Section 106. 
  
 “Original Issue Date” means __________ ___, 200__. 
  
 “Outstanding,” when used with respect to the Series __ Senior Notes, means, as of the date of determination, all Series __ Senior Notes,
theretofore authenticated and delivered under the Indenture, except: 
  
 (i) Series __ Senior Notes theretofore canceled by the Trustee or delivered to the Trustee for cancellation; 
  
 (ii) Series __ Senior Notes for whose payment at Maturity the necessary amount of money or money’s worth has been theretofore
deposited (other than pursuant to Section 1303 of the Original Indenture) with the Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by the Company (if the Company shall act as its own Paying
Agent) for the Holders of such Series __ Senior Notes; provided that, if such Series __ Senior Notes are to be redeemed, notice of such redemption has been duly given pursuant to the Original Indenture or provision therefor satisfactory to the
Trustee has been made; 
  
 (iii) Series __ Senior
Notes with respect to which the Company has effected Defeasance pursuant to Section 1302 of the Original Indenture; and 
  
 (iv) Series __ Senior Notes that have been paid pursuant to Section 306 of the Original Indenture or in exchange for or in lieu of
which other Series __ Senior Notes have been authenticated and delivered pursuant to the Indenture, other than any such Series __ Senior Notes in respect of which there shall have been presented to the Trustee proof satisfactory to it that such
Series __ Senior Notes are held by a bona fide purchaser in whose hands such Series __ Senior Notes are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding
Series __ Senior Notes have given, made or taken any request, demand, authorization, direction, notice, consent or waiver or other action hereunder as of any date, Series __ Senior Notes owned by the Company or any other obligor upon the Series __
Senior Notes or any Affiliate of the Company or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Trustee shall be protected in making any such determination or relying upon any 

  

 3 

 
such request, demand, authorization, direction, notice, consent, waiver or other action only Series __ Senior Notes which the Trustee actually knows to be so
owned shall be so disregarded. Series __ Senior Notes so owned which shall have been pledged in good faith may be regarded as Outstanding if the pledgee establishes to the satisfaction of the Trustee (A) the pledgee’s right so to act with
respect to such Series __ Senior Notes and (B) that the pledgee is not the Company or any other obligor upon the Series __ Senior Notes or an Affiliate of the Company or such other obligor. 
  
 “Reference Treasury Dealer” means: (i) _________________ or
_________________ and their respective successors as selected by the Company; provided that, if any such firm or its successors ceases to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”),
the Company shall substitute another Primary Treasury Dealer; and (ii) up to _______ other Primary Treasury Dealers selected by the Company. 
  
 “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined
by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York City
time, on the third Business Day preceding such Redemption Date. 
  
 “Regular Record Date” means, with respect to each Interest Payment Date, the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series __ Senior Notes that are not
represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th
calendar day (whether or not a Business Day) preceding such Interest Payment Date. 
  
 “Remaining Life” means the remaining term of the Series __ Senior Notes. 
  
 “Stated Maturity” means __________ __, 20___. 
  
 SECTION 103. Payment of Principal and Interest. The principal of the Series __ Senior Notes shall be due at the Stated Maturity (unless earlier
redeemed). The unpaid principal amount of the Series __ Senior Notes shall bear interest at the rate of ____% per annum until paid or duly provided for, such interest to accrue from the Original Issue Date or from the most recent Interest Payment
Date to which interest has been paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date to the Person in whose name the Series __ Senior Notes are registered on the Regular Record Date for such
Interest Payment Date; provided that interest payable at the Stated Maturity of principal or on a Redemption Date as provided herein will be paid to the Person to whom principal is payable. Any such interest that is not so punctually paid or duly
provided for will forthwith cease to be payable to the Holders on such Regular Record Date and may either be paid to the Person or Persons in whose name the Series __ Senior Notes are registered at the close of business on a Special Record Date for
the payment of such defaulted interest to be fixed by the Trustee (in accordance with Section 307 of the Original Indenture), notice whereof shall be given to Holders of the Series __ Senior Notes not less than ten (10) days prior to such
Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange, if any, on 

  

 4 

 
which the Series __ Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Original
Indenture. 
  
 Payments of interest on the Series __ Senior Notes
will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments for the Series __ Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on
which interest is payable on the Series __ Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any
such delay), in each case with the same force and effect as if made on the date the payment was originally payable. 
  
 Payment of the principal and interest on the Series __ Senior Notes shall be made at the office of the Paying Agent in such currency of the United States
of America as at the time of payment is legal tender for payment of public and private debts, with any such payment that is due at the Stated Maturity of any Series __ Senior Notes or on a Redemption Date being made upon surrender of such Series __
Senior Notes to the Paying Agent. Payments of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where applicable, at the option of the Company, (i) by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen
(16) days prior to the date for payment by the Person entitled thereto. In the event that any date on which principal and interest is payable on the Series __ Senior Notes is not a Business Day, then payment of the principal and interest
payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally
payable. 
  
 SECTION 104. Denominations. The Series __
Senior Notes may be issued in denominations of $1,000, or any integral multiple thereof. 
  
 SECTION 105. Global Securities. The Series __ Senior Notes will be issued initially in the form of one or more Global Securities registered in the name of the Depositary (which shall be The Depository Trust
Company) or its nominee. Except under the limited circumstances described below, Series __ Senior Notes represented by such Global Securities will not be exchangeable for, and will not otherwise be issuable as, Series __ Senior Notes in definitive
form. The Global Securities described above may not be transferred except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or to a successor Depositary or its
nominee. 
  
 Owners of beneficial interests in such a Global
Security will not be considered the Holders thereof for any purpose under the Indenture, and no Global Security representing a Series __ Senior Note shall be exchangeable, except for another Global Security of like denomination and tenor to be
registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee or except as described below. The rights of Holders of such Global Security shall be exercised only through the Depositary. 
  

 5 

 A Global Security shall be exchangeable for Series __ Senior Notes registered in the names of persons
other than the Depositary or its nominee only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security and no successor Depositary shall have been appointed by the Company
within 90 days of receipt by the Company of such notification, or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act at a time when the Depositary is required to be so registered to act as such Depositary
and no successor Depositary shall have been appointed by the Company within 90 days after it becomes aware of such cessation, or (ii) the Company in its sole discretion and subject to the procedures of the Depositary determines that such Global
Security shall be so exchangeable. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Series __ Senior Notes registered in such names as the Depositary shall direct. 
  
 SECTION 106. Redemption. The Series __ Senior Notes are redeemable, in
whole or in part, at any time, and at the option of the Company, at a Redemption Price (“Optional Redemption Price”) equal to the greater of: 
  
 (i) 100% of the principal amount of Series __ Senior Notes then Outstanding to be so redeemed, or 
  
 (ii) the sum of the present values of the remaining
scheduled payments of principal and interest thereon (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve
30-day months) at the Adjusted Treasury Rate, plus ___ basis points, as calculated by an Independent Investment Banker, 
  
 plus, in either of the above cases, accrued and unpaid interest thereon to the Redemption Date. 
  
 The Adjusted Treasury Rate shall be calculated on the third Business Day
preceding the Redemption Date. 
  
 Notwithstanding
Section 1104 of the Original Indenture, (x) notice of redemption under this Section 106 shall with respect to the Series __ Senior Notes be given by first-class mail, postage prepaid, mailed not less than 20 nor more than 60 days
prior to the Redemption Date, to each Holder of Series __ Senior Notes to be redeemed, at his address appearing in the Security Register, and (y) the notice of such redemption need not set forth the Redemption Price but only the manner of
calculation thereof. The Company shall notify the Trustee of the Redemption Price promptly after the calculation thereof and the Trustee shall have no responsibility for such calculation. 
  
 SECTION 107. Sinking Fund. The Series __ Senior Notes shall not have a sinking fund. 
  
 SECTION 108. Additional Interest. Any principal of and installment of
interest on the Series __ Senior Notes that is overdue shall bear interest at the rate of ____% (to the extent 

  

 6 

 
that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and
such interest shall be payable on demand. 
  
 SECTION 109.
Paying Agent. The Trustee shall initially serve as Paying Agent with respect to the Series __ Senior Notes, with the Place of Payment initially being the Corporate Trust Office of the Trustee. 
  
 ARTICLE II 
 MISCELLANEOUS PROVISIONS 
  
 SECTION 201. Recitals by Company. The recitals in this _______ Supplemental Indenture are made by the Company only and not by the Trustee, and all of the provisions contained in the Original Indenture in
respect of the rights, privileges, immunities, powers and duties of the Trustee shall be applicable in respect of the Series __ Senior Notes and of this ________ Supplemental Indenture as fully and with like effect as if set forth herein in full.

  
 SECTION 202. Ratification and Incorporation of Original
Indenture. As supplemented hereby, the Original Indenture is in all respects ratified and confirmed, and the Original Indenture and this _________ Supplemental Indenture shall be read, taken and construed as one and the same instrument.

  
 SECTION 203. Executed in Counterparts. This _______
Supplemental Indenture may be executed in several counterparts, each of which shall be deemed to be an original, and such counterparts shall together constitute but one and the same instrument. 
  
 SECTION 204. Assignment. The Company shall have the right at all times
to assign any of its rights or obligations under the Indenture with respect to the Series __ Senior Notes to a direct or indirect wholly-owned subsidiary of the Company; provided that, in the event of any such assignment, the Company shall remain
fully liable for the performance of all such obligations. The Indenture may also be assigned by the Company in connection with a transaction described in Article Eight of the Original Indenture. 
  

 7 

 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and behalf by
its duly authorized officer, all as of the day and year first above written. 
  

			
	 VIRGINIA ELECTRIC AND POWER COMPANY

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	JPMORGAN CHASE BANK, N.A. (FORMERLY KNOWN AS THE CHASE MANHATTAN BANK), as Trustee
		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 

  

 8 

  
 EXHIBIT A 

 
 FORM OF 
 200   SERIES                  % SENIOR NOTE 
 DUE                      
  
 [UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF [CEDE & CO.] OR SUCH OTHER NAME AS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO [CEDE & CO.], ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED OWNER
HEREOF, [CEDE & CO.,] HAS AN INTEREST HEREIN.]** 
  
 [THIS SERIES __ SENIOR NOTE IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SERIES __ SENIOR NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN
PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SERIES __ SENIOR NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE.]** 
  

  
 VIRGINIA ELECTRIC AND 
 POWER COMPANY

  

  
 $_____________ 
 200   SERIES
                 % SENIOR NOTE 
 DUE
                     
  

			
	 No. R-
	  	CUSIP No.                     

  
 Virginia Electric and
Power Company, a corporation duly organized and existing under the laws of Virginia (herein called the “Company,” which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to
pay to [Cede & Co.]**, or registered assigns (the “Holder”), the principal sum of ____________ Dollars ($_____) on __________ ___, 20___ and to pay interest thereon from _________ __, 200__ or from the most recent Interest Payment
Date to which interest has been paid or duly provided for, semi-annually in 

	**	Insert in Global Securities. 

 arrears on _________ __, and _________ __ of each year, commencing on ________ __, 200__, at the rate of ______% per
annum, until the principal hereof is paid or made available for payment, provided that any principal, and any such installment of interest, that is overdue shall bear interest at the rate of ____% per annum (to the extent that the payment of such
interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Series __ Senior Note (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest,
which shall be the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series __ Senior Notes that are not represented by one or more Global Securities, the Regular Record Date shall be
the close of business on the 15th calendar day (whether or not a Business Day) preceding such Interest Payment Date,
provided, that interest payable at the Stated Maturity of principal or on a Redemption Date will be paid to the Person to whom principal is payable. Any such interest not so punctually paid or duly provided for will forthwith cease to be payable to
the Holder on such Regular Record Date and may either be paid to the Person in whose name this Series __ Senior Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Series __ Senior Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Series __ Senior Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
  
 Payments of interest on the Series __ Senior Notes will include interest
accrued to but excluding the respective Interest Payment Dates. Interest payments for the Series __ Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on which interest is
payable on the Series __ Senior Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each
case with the same force and effect as if made on the date the payment was originally payable. 
  
 Payment of the principal of and premium, if any, and interest on this Series __ Senior Note will be made at the office of the Paying Agent, in the Borough of Manhattan, City and State of New York, in such coin or
currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, with any such payment that is due at the Stated Maturity of any Series __ Senior Note or upon redemption being made upon
surrender of such Series __ Senior Note to such office or agency; provided, however, that at the option of the Company payment of interest, subject to such surrender where applicable, may be made (i) by check mailed to the address of the Person
entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the United States as may be designated in writing to the Trustee at least sixteen
(16) days prior to the date for payment by the Person entitled thereto. 
  
 Reference is hereby made to the further provisions of this Series __ Senior Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

  

 2 

 Unless the certificate of authentication hereon has been executed by the Trustee referred to on the
reverse hereof by manual signature, this Series __ Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
  
 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 
  

									
	 Dated:
	 	 	 	 Virginia Electric and Power Company

					
	 	 	 	 	 	 	By:	 	 
					
	 	 	 	 	 	 	 Name:
	 	 
					
	 	 	 	 	 	 	 Title:
	 	 

  
 (SEAL) 
 Attest: 
  

	
	
	  
	 Name:____________

	 [Assistant] Corporate Secretary

  

 3 

 [REVERSE OF SERIES __ ______% SENIOR NOTE] 
  
 This Security is one of a duly authorized issue of securities of the Company
(herein called the “Securities”), issued and to be issued in one or more series under an Indenture, dated as of June 1, 1998, as heretofore supplemented and amended and as further supplemented by a __________ Supplemental Indenture
dated as of __________ 1, 200__ (collectively, as amended or supplemented from time to time, herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), between the Company and JPMorgan Chase Bank,
N. A. (formerly known as The Chase Manhattan Bank), as Trustee (herein called the “Trustee,” which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the
series designated on the face hereof (the “Series __ Senior Notes”) which is unlimited in aggregate principal amount. 
  
 The Series __ Senior Notes are redeemable, in whole or in part, at any time in the manner and with the effect provided in the Indenture. 
  
 If an Event of Default with respect to Series __ Senior Notes shall occur and
be continuing, the principal of the Series __ Senior Notes may be declared due and payable in the manner and with the effect provided in the Indenture. 
  
 The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of a majority in principal amount of the Securities at the time
Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or waiver by the Holder of this Series __ Senior Note shall be conclusive and binding upon such Holder and upon all future Holders
of this Series __ Senior Note and of any Series __ Senior Note issued upon the registration of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Series __ Senior Note.

  
 As provided in and subject to the provisions of the Indenture,
the Holder of this Series __ Senior Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless such Holder shall have previously
given the Trustee written notice of a continuing Event of Default with respect to the Series __ Senior Notes, the Holders of not less than a majority in principal amount of the Series __ Senior Notes at the time Outstanding shall have made written
request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority in principal amount of Series __
Senior Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding for 60 days after receipt of such notice, request and offer of indemnity. The foregoing shall not apply to any
suit instituted by the Holder of this Series __ 

  

 4 

 
Senior Note for the enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after the respective due dates expressed or
provided for herein. 
  
 No reference herein to the Indenture and
no provision of this Series __ Senior Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Series __ Senior Note at the
times, place and rate, and in the coin or currency, herein prescribed. 
  
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Series __ Senior Note is registrable in the Security Register, upon surrender of this Series __ Senior Note for registration of transfer
at the office or agency of the Company in any place where the principal of, premium, if any, and interest on this Series __ Senior Note are payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Series __ Senior Notes and of like tenor, of authorized denominations and for the same aggregate
principal amount, will be issued to the designated transferee or transferees. 
  
 The Series __ Senior Notes are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple thereof. As provided in the Indenture and subject to certain limitations therein set
forth, Series __ Senior Notes are exchangeable for a like aggregate principal amount of Series __ Senior Notes having the same Stated Maturity and of like tenor of any authorized denominations as requested by the Holder upon surrender of the Series
__ Senior Note or Series __ Senior Notes to be exchanged at the office or agency of the Company. 
  
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith. 
  
 Prior to due presentment of this Series __ Senior Note for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for
all purposes, whether or not this Series __ Senior Note be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
  
 All terms used in this Series __ Senior Note that are defined in the Indenture shall have the meanings assigned to them in
the Indenture. 
  

 5 

 ABBREVIATIONS 
  
 The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to
applicable laws or regulations: 
  

			
	TEN COM -	  	as tenants in common
		
	TEN ENT -	  	as tenants by the entireties
		
	JT TEN -	  	 as joint tenants with rights of survivorship and not as
 tenants in common

		
	UNIF GIFT MIN ACT -	  	________________________________ Custodian for
	 	  	(Cust)
		
	 	  	 ________________________________
 (Minor)

		
	 	  	Under Uniform Gifts to Minors Act of
		
	 	  	 ________________________________
 (State)

	
	 Additional abbreviations may also be used though not on the above list.

	
	 _____________________________________________________________

  

 6 

 FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto 
  

			
	 	 	.

  
 (please insert Social
Security or other identifying number of assignee) 
  

			
	 	 	.
		
	 	 	.
		
	 	 	.

  
 PLEASE PRINT OR TYPEWRITE NAME AND
ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE 
  
 the within Series __ Senior
Note and all rights thereunder, hereby irrevocably constituting and appointing 
  

			
	 	 	.
		
	 	 	.
		
	 	 	.

  

			
	 	 	.
		
	 	 	.
		
	 	 	.

  
 agent to transfer said Series __
Senior Note on the books of the Company, with full power of substitution in the premises. 
  
 Dated:                             ,
         
  

	
	
	 

  
 NOTICE: The signature to this
assignment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement, or any change whatever. 
  

 7 

  
 EXHIBIT B 

CERTIFICATE OF AUTHENTICATION 
  
 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture. 
  

			
	 JPMORGAN CHASE BANK, N.A.
 (formerly known as
The Chase Manhattan Bank), as Trustee

		
	By:	 	 
	 	 	 Authorized Officer

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