Document:

EXHIBIT 10.10

NEITHER THIS WARRANT NOR THE SECURITIES  ISSUABLE UPON EXERCISE HEREOF HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
ACT (COLLECTIVELY,  THE "SECURITIES  LAWS").  THIS WARRANT HAS BEEN ACQUIRED FOR
INVESTMENT PURPOSES ONLY AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE
OR  DISTRIBUTION  THEREOF.  THIS  WARRANT  MAY NOT BE SOLD,  OFFERED FOR SALE OR
OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH SECTION 10 OF THIS WARRANT.

No. 001                                            WARRANT TO PURCHASE SHARES OF
ISSUED:  SEPTEMBER, 30, 2002                                        COMMON STOCK

                         LOGICAL IMAGING SOLUTIONS, INC.
                            DIGITAL COLOR PRINT, INC.

                              COMMON STOCK WARRANT

     THIS IS TO CERTIFY that, for value  received,  and subject to the terms and
conditions of this Warrant,  Color Imaging,  Inc., a Delaware  corporation,  its
successors or assigns ("Color"),  is entitled, at any time and from time to time
during the exercise period as provided in Section 6 (the "Exercise Period"),  to
subscribe for and purchase,  upon exercise of this Warrant, that number of fully
paid and nonassessable  shares determined  according to the formula set forth in
Section 1 (the "Warrant  Stock") of Common Stock, of Logical Imaging  Solutions,
Inc.,  a California  corporation  ("Logical")  or if  converted  pursuant to the
following  paragraph,  shares of the Common Stock of Digital  Color Print,  Inc.
("DCP"). The exercise price thereof (the "Warrant Price") shall be (i) $1.50 per
share (not to exceed an  aggregate  price of  $121,725)  for Warrant  Stock with
respect to which Color  exercises  its  Warrant  hereunder  within the  one-year
period  following  the date  hereof,  (ii)  $2.25  per  share  (not to exceed an
aggregate  price of $365,175,  including the aggregate  Warrant Price paid under
(i) above) for Warrant  Stock with respect to which Color  exercises its Warrant
hereunder  after the first  anniversary  of the date of this  Warrant  and on or
before the second anniversary of the date of this Agreement, and (iii) $3.25 per
share (not to exceed an aggregate  price of $791,212,  including  the  aggregate
Warrant  Price paid under (i) and (ii) above) for Warrant  Stock with respect to
which Color exercises its Warrant hereunder after the second  anniversary of the
date of this  Agreement  and  before the third  anniversary  of the date of this
Agreement.

     Color may, at any time during the Exercise Period, convert this Warrant for
shares of the Common  Stock of Logical  into a Warrant  for shares of the Common
Stock of DCP by notifying  Logical and DCP of such  conversion in writing.  Upon
conversion, the Warrant shall be for the same percentages of Common Stock of DCP
and at the same Warrant  Prices (and not to exceed the aggregate  Warrant Prices
described  above) as are set forth  herein in  respect  of shares of the  Common
Stock of Logical.  Upon  request,  DCP shall issue a new Warrant in exchange for
the surrender of this Warrant,  which new Warrant shall be substantially similar
to this  Warrant,  but shall  evidence  the  conversion  of this  Warrant into a
Warrant  for  the  Common  Stock  of  DCP.  DCP  and  Logical  are  referred  to
collectively as "Issuer".

<PAGE>

     This Warrant is subject to the following additional terms and conditions:

     SECTION 1. NUMBER OF WARRANT  STOCK.  The number of shares of Warrant Stock
with respect to which this Warrant shall be exercisable shall be as follows:

          (a) During the period  following the date hereof  through the one-year
anniversary of the date of this  Agreement,  Color may exercise this Warrant for
up to that number of shares of Common Stock of Issuer that is equal of 5% of the
outstanding  Common Stock of Issuer at the time of exercise,  on a fully diluted
basis and  assuming the exercise and  conversion  of all options,  warrants,  or
other  convertible  securities  issued in respect of the capital stock of Issuer
and exercisable for or convertible into Common Stock.

          (b) During the period  following the one-year  anniversary of the date
of this Agreement through the second  anniversary of the date of this Agreement,
Color may exercise  this Warrant for up to that number of shares of Common Stock
of Issuer that is equal to (i) 10% of the outstanding  Common Stock of Issuer at
the time of  exercise,  on a fully  diluted  basis and assuming the exercise and
conversion of all options,  warrants, or other convertible  securities issued in
respect of the capital stock of Issuer and exercisable  for or convertible  into
Common Stock, less (ii) the number of shares of Warrant Stock purchased pursuant
to Section 1(a).

          (c) During the period following the second  anniversary of the date of
this  Agreement  through the third  anniversary  of the date of this  Agreement,
Color may exercise  this Warrant for up to that number of shares of Common Stock
of Issuer that is equal to (i) 15% of the outstanding  Common Stock of Issuer at
the time of  exercise,  on a fully  diluted  basis and assuming the exercise and
conversion of all options,  warrants, or other convertible  securities issued in
respect of the capital stock of Issuer and exercisable  for or convertible  into
Common  Stock,  less  (ii) the  aggregate  number of  shares  of  Warrant  Stock
purchased pursuant to Sections 1(a) and 1(b).

     SECTION 2. METHOD OF EXERCISE. This Warrant may be exercised in whole or in
part at any  time or from  time to  time,  but not as to a  fractional  share of
Warrant  Stock,  by delivering to Issuer,  during the Exercise  Period:  (i) the
attached  form of Election to Purchase,  duly  completed  and executed by Color,
(ii) this  Warrant,  and (iii) payment of the Warrant Price in cash or by check,
for each share purchased.

     SECTION  3.  DELIVERY  OF STOCK  CERTIFICATES.  Within  20 days  after  the
exercise of this Warrant (in whole or in part),  Issuer,  at its expense,  shall
issue in the name of and deliver to Color (a) a certificate or certificates  for
the number of fully  paid and  nonassessable  shares of  Warrant  Stock to which
Color  shall be entitled  upon such  exercise  and (b) unless  this  Warrant has
expired,  a new Warrant  representing  the number of shares  (except a remaining
fractional  share) of Warrant Stock,  if any, with respect to which this Warrant
shall not have been  exercised.  Color shall for all  purposes be deemed to have
become the holder of record of such shares of Warrant Stock on the date on which
this  Warrant  is  surrendered  and  payment  on  the  Warrant  Price  is  made,
irrespective  of the  date  of  delivery  of  the  certificate  or  certificates
representing the Warrant Stock; provided that, if the date of such surrender and
payment is a date when the stock  transfer  books of Logical  are  closed,  such
person  shall be deemed to have  become the  holder of record of such  shares of
Warrant Stock at the close of business on the next  succeeding date on which the
stock transfer books are open.

                                       2
<PAGE>

     SECTION 4. COVENANTS AS TO WARRANT STOCK.  Issuer covenants and agrees that
all shares of Warrant  Stock issued  pursuant to the terms of this Warrant will,
upon  their  issuance,  be  validly  issued  and  outstanding,  fully  paid  and
nonassessable. Issuer further covenants and agrees that Issuer will at all times
thereafter  have  authorized  and reserved a sufficient  number of shares of its
Common  Stock to provide  for the  exercise  of the rights  represented  by this
Warrant.

     SECTION 5. INVESTMENT REPRESENTATIONS OF COLOR. Color represents, warrants,
covenants  and agrees,  to the extent that it acquires  shares of Warrant  Stock
pursuant to this Agreement, as follows:

          (a)  Color  understands  that  none of the  shares  of  Warrant  Stock
acquired pursuant to this Warrant have been registered under the Securities Laws
in reliance upon exemptions for nonpublic offerings, and that Issuer is under no
obligation to register such shares under the Securities Laws.

          (b) To the extent  applicable,  Color will be  acquiring  the  Warrant
Stock pursuant to this Warrant for  investment and for its own account,  and not
with a view to, or for resale in connection with, any distribution.

          (c) Color understands that the Warrant Stock must be held indefinitely
and Color must  continue  to bear the  economic  risk of the  investment  for an
indefinite  time unless the Warrant Stock is subsequently  registered  under the
Securities Laws or an exemption from such registration is available.

          (d) Color agrees that it will in no event sell or  otherwise  transfer
all or any part of the  Warrant  Stock  unless  (i) in the  opinion  of  counsel
satisfactory  to Issuer,  the Warrant Stock may be legally  transferred  without
registration  under the  Securities  Laws,  or (ii) unless the shares of Warrant
Stock have been  registered  and  qualified  under the  Securities  Laws and, if
necessary, an appropriate prospectus shall then be in effect.

     SECTION 6.  TERMINATION.  This Warrant  shall be  cancelled  and the rights
granted  hereunder  shall  terminate  at the  close  of  business  on the  third
anniversary of the issuance of the Warrant (the  "Termination  Date"),  provided
Color's rights hereunder shall survive in respect of any exercise of the Warrant
made by Color prior to such Termination Date.

     SECTION 7. ADJUSTMENTS AFFECTING COMMON STOCK.

          (a) Reclassification. In the case of any reclassification or change of
Common Stock issuable upon exercise of this Warrant,  Issuer shall execute a new
Warrant, providing that Color shall have the right to exercise such new Warrant,
in substantially the form hereof, and upon such exercise to receive,  in lieu of
each share of Common Stock  theretofore  issuable upon exercise of this Warrant,
the  number and kind of shares of stock,  other  securities,  money or  property
receivable upon such  reclassification or change by a holder of shares of Common
Stock.  Such new Warrant shall provide for adjustments  which shall be as nearly
equivalent as may be practicable to the adjustments provided for in this Section
7.

                                       3
<PAGE>

          (b) Split,  Subdivision or Combination of Shares. If at any time while
this Warrant remains outstanding and unexpired Issuer shall split,  subdivide or
combine its Common Stock,  the number of shares of Warrant  Stock  issuable upon
exercise hereof shall be  proportionately  increased and the Warrant Price shall
be  proportionately  decreased,  in the case of a split or  subdivision,  or the
number of  shares of  Warrant  Stock  issuable  upon  exercise  hereof  shall be
proportionately  decreased  and  the  Warrant  Price  shall  be  proportionately
increased, in the case of a combination.

     SECTION 8.  SIGNIFICANT  BUSINESS  TRANSACTIONS.  If at any time while this
Warrant, or any portion thereof, is outstanding and unexpired there shall be (a)
a  reorganization  (other  than a  combination,  reclassification,  exchange  or
subdivision  of Common Stock  otherwise  provided  for herein),  (b) a merger or
consolidation of Issuer with or into another  corporation in which Issuer is not
the  surviving  entity,  or a reverse  triangular  merger in which Issuer is the
surviving  entity  but  the  shares  of  Issuer's   capital  stock   outstanding
immediately prior to the merger are converted by virtue of the merger into other
property,  whether in the form of securities,  cash, or otherwise, or (c) a sale
or  transfer  of  Issuer's  properties  and assets as, or  substantially  as, an
entirety to any other person,  then, unless prior to or contemporaneous with the
closing of such reorganization,  merger, consolidation,  sale or transfer, Color
has  exercised  this  Warrant,  as  a  part  of  such  reorganization,   merger,
consolidation,  sale or transfer,  lawful  provision shall be made so that Color
shall  thereafter  be entitled to receive  upon  exercise of this Warrant (or if
partially  exercised,  then only for that  portion of the Warrant  outstanding),
during the period specified herein and upon payment of the Warrant Price then in
effect,  that number of shares of stock or other  securities  or property of the
successor corporation resulting from such reorganization, merger, consolidation,
sale or transfer that a holder of the shares  deliverable  upon exercise of this
Warrant   would  have  been   entitled   to  receive  in  such   reorganization,
consolidation,  merger,  sale or  transfer if this  Warrant  had been  exercised
immediately before such reorganization, merger, consolidation, sale or transfer,
all subject to further  adjustment  as provided in this Section 8. The foregoing
provisions   of  this   Section   8  shall   similarly   apply   to   successive
reorganizations,  consolidations,  mergers, sales and transfers and to the stock
or securities of any other  corporation that are at the time receivable upon the
exercise of this Warrant. If the per-share  consideration  payable to Issuer for
shares in connection  with any such  transaction is in a form other than cash or
marketable securities,  then the value of such consideration shall be determined
in good  faith  by  Issuer's  Board of  Directors.  In all  events,  appropriate
adjustment (as determined in good faith by Issuer's Board of Directors) shall be
made in the  application  of the  provisions of this Warrant with respect to the
rights  and  interests  of  Color  after  the  transaction,  to the end that the
provisions  of this Warrant  shall be  applicable  after that event,  as near as
reasonably may be, in relation to any shares or other property deliverable after
that event upon exercise of this Warrant.

                                       4
<PAGE>

     SECTION 9. FRACTIONAL SHARES. No fractional shares shall be issued upon the
exercise of this Warrant. In lieu of fractional shares, Issuer shall pay Color a
sum in cash equal to the Fair Market Value of the fractional  shares on the date
of exercise.

     SECTION 10.  RESTRICTIONS ON TRANSFER.  This Warrant may not be transferred
unless (a) the  Warrant  is  registered  under the  Securities  Act of 1933,  as
amended (the "Securities  Act"), and any applicable state securities or blue sky
laws, (b) Logical has received a legal opinion reasonably satisfactory to Issuer
to the effect  that the  transfer  is exempt from the  prospectus  delivery  and
registration  requirements  of the  Securities  Act  and  any  applicable  state
securities or blue sky laws, or (c) Issuer otherwise  satisfies itself that such
transfer is exempt from registration.

     SECTION  11.  LEGEND.  A legend  setting  forth or  referring  to the above
restrictions  shall be placed on this Warrant,  any  replacement  hereof and any
certificate representing a security issued pursuant to the exercise hereof and a
stop transfer restriction or order may be placed on the books of Issuer and with
any  transfer  agent  until such  securities  may be legally  sold or  otherwise
transferred.

     SECTION 12. NO RIGHTS AS SHAREHOLDER.  This Warrant shall not entitle Color
to any voting  rights or any other rights as a  shareholder  of Issuer or to any
other rights  whatsoever  except the rights stated herein;  and no cash or stock
dividend or interest shall be payable or shall accrue in respect of this Warrant
or the Warrant Stock purchasable  hereunder unless, until and to the extent that
this Warrant shall be exercised.

     SECTION 13. CONSTRUCTION.  The validity and interpretation of the terms and
provisions  of this  Warrant  shall  be  governed  by the  laws of the  State of
Georgia.  The descriptive  headings of the several  Sections of this Warrant are
inserted  for  convenience  only and shall not  control or affect the meaning or
construction of any of the provisions thereof.

     SECTION 14. LOST  WARRANT  CERTIFICATE.  If this  Warrant is lost,  stolen,
mutilated or destroyed,  Logical shall issue a new Warrant of like denomination,
tenor and date as this  Warrant,  subject to Issuer's  right to require Color to
give Issuer a bond or other satisfactory security sufficient to indemnify Issuer
against  any  claim  that may be made  against  it  (including  any  expense  or
liability) on account of the alleged loss,  theft,  mutilation or destruction of
this Warrant or the issuance of such new Warrant.

     SECTION 15. WAIVERS AND  AMENDMENTS.  This Warrant or any provision  hereof
may be changed, waived,  discharged or terminated only by a statement in writing
signed by the party against which enforcement of the change,  waiver,  discharge
or termination is sought.

     SECTION 16. NOTICES. All notices,  requests and other communications to any
party hereunder shall be in writing and sent by (a) certified or registered U.S.
mail, return receipt  requested,  (b) personal  delivery,  including delivery by
Federal Express or similar guaranteed express courier,  (c) facsimile,  provided
written  confirmation  of receipt is  received  and a copy is sent by the method
described in (a) or (b), addressed as follows:

                                       5
<PAGE>

     if to Color, to:                   Color Imaging, Inc.
                                        4350 Peachtree Industrial Blvd.
                                        Suite 100
                                        Norcross, Georgia 30071
                                        Attention:  Morris E. Van Asperen
                                        Fax:  (770) 242-3494

     with copies to:                    Arnall Golden Gregory LLP
                                        1201 West Peachtree Street
                                        2800 One Atlantic Center
                                        Atlanta, Georgia 30309
                                        Attention:  T. Clark Fitzgerald III
                                        Fax:  (404) 873-8623

     if to Logical, to:                 Logical Imaging Solutions, Inc.
                                        1920 East Warner Avenue
                                        Suite 3-M
                                        Santa Ana, California 92705
                                        Fax: (949) 474-8114
                                        Attention:  Michael W. Brennan

     if to DCP or                       Robert L. Langsam
     the DCP Shareholders:              c/o Global Capital Group, Inc.
                                        2121 East Pacific Coast Highway
                                        Suite 210
                                        Corona del Mar, California 92625
                                        Fax:  (949) 270-2755

     with a copy to:                    Christopher H. Dieterich, Esq.
                                        11300 W. Olympic Boulevard
                                        Los Angeles, California 90064
                                        Fax:  (310) 312-6680

or at such other address to the  attention of other person as Color,  Logical or
DCP may designate by written notice to the other party hereto. All such notices,
requests  and  other  communications  shall be  deemed  received  on the date of
receipt by the  recipient  thereof if  received  prior to 5 p.m. in the place of
receipt and such day is a business day in the place of receipt.  Otherwise,  any
such notice,  request or communication shall be deemed not to have been received
until the next succeeding business day, in the place of receipt.

                        [Signatures appear on next page]

                                       6
<PAGE>

     IN WITNESS  WHEREOF,  Logical and DCP have  executed this Warrant as of the
date first above written.

                                     LOGICAL IMAGING SOLUTIONS, INC.

                                     By: /S/ MICHAEL W. BRENNAN
                                         ------------------------------------
                                         Michael W. Brennan
                                         Title:    Chief Executive Officer

                                     DIGITAL COLOR PRINT, INC.

                                     By: /S/ MICHAEL W. BRENNAN
                                         ----------------------------
                                         Michael W. Brennan
                                         Title:    Chief Executive Officer

                                       7
<PAGE>

                              ELECTION TO PURCHASE

(To be executed only upon exercise of Warrant)

     The  undersigned  registered  owner  of the  attached  Warrant  irrevocably
exercises the Warrant for _________  shares of Common Stock of [LOGICAL  IMAGING
SOLUTIONS, INC./DIGITAL COLOR PRINT, INC.] on the terms and conditions specified
in the Warrant,  and requests that a certificate  for the shares of Common Stock
hereby  purchased  (and any  securities  or other  property  issuable  upon such
exercise) be issued in the name of and  delivered  to  ________________________,
whose address is  _________________________________________,  _________________,
and,  if such  shares of Common  Stock  shall not  include  all of the shares of
Common Stock into which the Warrant is  exercisable,  that a new Warrant of like
tenor and date for the balance of the shares of Common Stock issuable thereunder
be delivered to the undersigned.  The payment of the Warrant Price shall be made
(__________) in cash or (__________) by check.

Dated:  ___________________
                                   _____________________________________________
                                   (Signature)

                                   _____________________________________________
                                   (Street Address)

                                   _____________________________________________
                                   (City)  (State)  (Zip Code)

1498583v3Employment Agreement

 Exhibit 10.1 
  
 EMPLOYMENT AGREEMENT 
  
 THIS EMPLOYMENT AGREEMENT (the
“Agreement”) is made as of the 12th day of November, 2002 by and among OLD DOMINION ELECTRIC
COOPERATIVE, a generation and transmission electric cooperative organized under the laws of the Commonwealth of Virginia (“Old Dominion”), and VIRGINIA, MARYLAND AND DELAWARE ASSOCIATION OF ELECTRIC COOPERATIVES, a non-stock corporation
organized under the laws of the Commonwealth of Virginia (“the Association”) (collectively, the “Employer”), and Jackson E. Reasor, Jr. (the “Executive”). 
  
 In consideration of the mutual covenants contained herein, Employer and Executive agree as follows: 
  
 1.        Employment.    Employer agrees to employ Executive and Executive agrees to continue in the
employ of Employer on the terms and conditions hereinafter set forth. 
  
 2.
        Capacity.    Executive shall serve Employer as President and Chief Executive Officer of Old Dominion and the Association, with such powers and duties as may be prescribed
from time to time by Employer, which duties shall include, without limitation, strategic and long range planning for, and oversight of the day to day operations of, Employer. Executive’s continued employment with Employer is conditioned upon
performance and results as set forth herein. 
  
 3.        Effective Date
and Term.    The commencement date of this Agreement shall be as of November 23, 2002 (the “Commencement Date”). Subject to the provisions of Section 6, the term of Executive’s employment hereunder shall be for
four (4) years from the Commencement Date, and shall be automatically extended for an additional one year period unless either the Executive or the Employer gives written notice 30 days prior the Expiration Date of such party’s election not to
extend the terms of this Agreement. Such four-year period, as extended shall hereafter be referred to as the “Term.” The last day of the Term is herein sometimes referred to as the “Expiration Date.” 
  
 4.         Compensation and Benefits.    The regular compensation and
benefits payable to Executive under this Agreement shall be as follows: 
  
     (a)        Salary.    For all services rendered by Executive under this Agreement, Employer shall pay Executive a salary at the rate of
$300,000 per year. Executive’s salary shall be payable bi-weekly, in accordance with Employer’s usual practice for its officers. Performance reviews shall be conducted every twelve months. Salary adjustments shall be considered at each
twelve-month anniversary and shall be awarded at the discretion of the Board of Directors of Employer. 
  
     (b)        Regular Benefits.    Executive shall also be entitled to participate in all benefit plans available to employees of Employer, all
as more specifically outlined in the Employee Benefits Package (a copy of which has been provided to Executive), including medical insurance, basic life insurance, long-term disability, retirement and security plans, 

  
 savings plans (401K), business travel accident insurance, exercise club privileges and other benefit
plans that may from time to time be approved or in effect for senior executives of Employer. Such participation shall be subject to (i) the terms of the applicable plan documents, (ii) generally applicable policies of Employer and (iii) the
discretion of the Boards of Directors of Employer or the administrative or other committee provided for in or contemplated by such plan. Such benefits shall be subject to review, alteration and/or cancellation in the discretion of the Board of
Directors of Employer, in accordance with the usual practice of Employer with respect to review of benefits for its officers. 
  
     (c)        Bonus Availability.    Executive may be eligible for an annual bonus based on the criteria established by the Board which shall be
determined on an annual basis. Such bonus shall be at the discretion of the Board of Directors. 
  
     (d)        Business Expenses.    Employer shall reimburse Executive for all reasonable travel and other business expenses incurred by him in
the performance of his duties and responsibilities, subject to such reasonable requirements with respect to substantiation and documentation as may be specified by Employer. 
  
     (e)         Vacation and Sick Leave.    Executive shall be entitled to five (5)
weeks of vacation during each calendar year commencing January 1, 2003. Executive’s sick leave accrual shall follow the standard sick leave policy. 
  
     (f)         Automobile.    Employer shall provide Executive, for his personal use, a new, American-made
sedan at a cost not to exceed $30,000. Replacement of the vehicle during the Term of the Agreement shall be at the discretion of the Board of Directors of Employer. “Personal use” excludes all non-business use by individuals other than
Executive except in the case of an emergency. Such personal use of the vehicle shall be permitted in and around the greater Richmond area. Executive shall be responsible for paying the tax on income attributable to the provision of such vehicle.

  
 5.         Extent of Service.    During his
employment hereunder, Executive shall, subject to the discretion and supervision of the Boards of Directors of Employer, devote his full business time, best efforts and business judgment, skill and knowledge to the advancement of Employer’s
interest and to the discharge of his duties and responsibilities hereunder. He shall not engage in any other business activity, except as may be approved by the Boards of Directors of Employer. “Business activity” shall not include
Executive’s investment or ownership in publicly held corporations or entities whose securities are tracked on recognized national or regional stock exchanges; provided such investment or ownership is at all times during the term of this
agreement less than 5% of the outstanding shares of said corporation or entity. 
  
 6.
        Termination and Termination Benefits. 
  
             Notwithstanding the provisions of Section 3, Executive’s employment hereunder shall terminate under the following circumstances and shall be subject to the
following provisions: 

 
 2 

  
     (a)        Death.    In the event of Executive’s death during Executive’s employment hereunder, Executive’s employment shall
terminate on the date of his death without further liability on the part of the Employer under this Agreement. 
  
     (b)        Termination by Employer for Cause.    Executive’s employment hereunder may be terminated without further liability on the part
of Employer effective immediately by a majority vote of the Boards of Directors of Employer for Cause by written notice to Executive setting forth in reasonable detail the nature of such Cause. Only the following shall constitute “Cause”
for such termination: 
  
         (i)    gross
incompetence, insubordination, gross negligence, willful misconduct in office or breach of a material fiduciary duty, which includes a breach of confidentiality as defined in Section 8(b), owed to Employer or any subsidiary or affiliate thereof;

  
         (ii)    conviction of a felony, a crime of
moral turpitude or commission of an act of embezzlement or fraud against Employer or any subsidiary or affiliate thereof; 
  
         (iii)    Executive’s material failure to perform a substantial portion of his duties and responsibilities hereunder; but only after Employer provides Executive
written notice of such failure and gives him thirty (30) days to remedy the situation. 
  
         (iv)    deliberate dishonesty of Executive with respect to Employer or any subsidiary or affiliate thereof. 
  

    (c)         Termination by Executive.    Executive may terminate his
employment hereunder with or without Good Reason (as defined below) by written notice to the Boards of Directors of Employer effective 30 days after receipt of such notice by the Boards of Directors. In the event that Executive terminates his
employment hereunder for Good Reason, Executive shall be entitled to the salary specified in Section 6(e). Executive shall not be required to render any further services to Employer. Upon termination of employment by Executive without Good Reason,
Executive shall be entitled to no further compensation under this Agreement. “Good Reason” shall be the failure by Employer to comply with the provisions of Section 4(a) or material breach by Employer of any other provision of this
Agreement, which failure or breach shall continue for more than 30 days after the date on which the Boards of Directors of Employer receives such notice. 
  
     (d)        Termination by Employer Without Cause.    Executive’s employment with Employer may be
terminated without Cause by a majority of each of the Boards of Directors of Employer, effective immediately upon delivery of written notice of such termination to Executive. 
  
     (e)         Certain Termination Payments.    In the event of termination of
Executive’s employment hereunder by Employer without Cause or by Executive with Good Reason, Executive shall be entitled to the following: 
  
         (i)    For and during the one-year period immediately following the date of termination, Employer shall continue to pay Executive a
salary at the rate in effect on the date 

 
 3 

  
 of termination. Payment of such salary shall be made on the same periodic date as salary payments would
have been made to Executive had he not been terminated. Employer shall also provide medical insurance to Executive for this one year period on the same basis as if Executive were still employed, except that Employer’s obligation to provide such
medical insurance shall cease if Executive becomes eligible for such coverage by virtue of his employment with another company or entity. 
  
             (ii)    In the event that Executive becomes employed in any capacity during the one-year period immediately following the date of
termination, Employer’s obligation to pay Executive’s salary pursuant to Section 6(e)(i) hereof shall be reduced by the amount of Executive’s compensation at his new employer. 
  
         (f)        Expiration Payments.    In the event the
Executive’s employment is not continued with Employer beyond the Expiration Date on mutually agreeable terms and conditions, the Employer shall continue to pay Executive a salary at the rate in effect at the Expiration Date for a period of six
months on the same periodic dates as salary payments would have been made to Executive had his employment continued. The provisions set forth in Section 6(e)(ii) also apply to the six-month post-expiration period. 
  
         (g)        Litigation and Regulatory
Cooperation.    Executive shall cooperate fully with Employer in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of Employer that relate to
events or occurrences that transpired while Executive was employed by Employer. Executive’s full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for
discovery or trial and to act as a witness on behalf of Employer at mutually convenient times. Executive shall also cooperate fully with Employer in connection with any examination or review of any federal or state regulatory authority as any such
examination or review relates to events or occurrences that transpired when Executive was employed by Employer. If such cooperation is required after Executive ceases to be employed by Employer, Employer shall pay Executive for such cooperation at
fee of seventy-five dollars ($75) per hour, payable monthly in arrears, and will reimburse Executive for any reasonable out-of-pocket expenses incurred in connection therewith. 
  
 7.        Disability.    If, due to physical or mental illness, Executive shall be disabled so as to be
unable to perform substantially all of his duties and responsibilities hereunder, which disability lasts for more than an uninterrupted period of at least 180 days or a total of at least 240 days in any calendar year (as determined by the opinion of
an independent physician selected by the Boards of Directors of the Company), Employer, acting through its Boards of Directors, may designate another executive to act in his place without further liability under this Agreement except for those
continuing obligations imposed upon Employer pursuant to its long-term disability plan. 
  
 8.        Noncompetition and Confidential Information. 
  
     (a)    Noncompetition.    During a period of one year following the date of termination of Executive’s employment with Employer occasioned by a failure to
extend employment beyond the Expiration Date or termination by Employer for Cause pursuant to 

 
 4 

  
 Section 6(b) hereof, or by Executive in the event that such termination is not for Good Reason,
Executive will not, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise, or through any Person (as defined in Section 10), compete in Delaware, Maryland or Virginia or any other state
contiguous to Virginia, Maryland, or Delaware during the period in which this covenant of Noncompetition is in effect, with Employer’s business of marketing and provision of electricity and electrical services or any other business conducted by
Employer during the period of Executive’s employment hereunder, nor will he attempt to hire any employee of Employer, assist in such hiring by any other Person, or solicit or encourage any customer of Employer to terminate its relationship with
Employer or to conduct with any other Person any business or activity that such customer conducts or could conduct with Employer. 
  
     (b)        Confidential Information.    Executive agrees and acknowledges that, by reason of his employment by and service to Employer, he
will have access to confidential information of Employer (and its affiliates, vendors, customers, and others having business dealings with it) including, without limitation, information and knowledge pertaining to products, sales and profit figures,
customer and client lists and information related to relationships between Employer and its affiliates, customers, vendors, and others having business dealings with it (collectively, the “Confidential Information”). Executive acknowledges
that the Confidential Information is a valuable and unique asset of Employer (and its affiliates, vendors, customers, and others having business dealings with it) and covenants that, both during and after the term of his employment by Employer, he
will not disclose any Confidential Information to any person or use any Confidential Information (except as his duties as an employee of Employer may require) without the prior written authorization of the Boards of Directors of Employer. Executive
further agrees that all files, letters, memoranda, reports, records, data, sketches, drawings, program listings or other written, photographic, or other tangible materials containing Confidential Information, whether created by Executive or others,
that shall come into his custody or possession, shall be delivered to Employer, upon the earlier of (i) a request by employer or (ii) termination of Executive’s employment. After such delivery, Executive shall not retain any such records or
copies thereof or any such tangible property. The obligation of confidentiality imposed by this Section shall not apply to information that is required by law, regulation or judicial or governmental authorities to be disclosed or that otherwise
becomes part of the public domain by means other than Executive’s non-observance of his obligations hereunder. 
  
     (c)        Rights and Remedies Upon Breach.    If Executive breaches, or threatens to commit a breach of, any of provisions of Section 8
hereof (collectively, the “Restrictive Covenants”), Employer shall have the following rights and remedies, each of which shall be independent of the other and severally enforceable, and all of which shall be in addition to, and not in lieu
of, any other rights and remedies available to Employer under law or in equity: 
  
         (i)    Specific Performance.    Executive recognizes and agrees that the violation of the Restrictive Covenants may not be reasonably or
adequately compensated in damages and that, in addition to any other relief to which Employer may be entitled by reason of such violation, it shall also be entitled to injunctive and equitable relief and, pending determination of any dispute with
respect to such violation, no bond or security shall be required in connection herewith. If any dispute arises with respect to this Section 8, without limiting in 

 
 5 

  
 any way any other rights or remedies to which Employer may be entitled, Executive agrees that the
Restrictive Covenants shall be enforceable by a decree of specific performance. 
  
         (ii)    Accounting.    Employer shall have the right and remedy to require Executive to account for any pay over to Employer all
compensation, profits, monies, accruals, increments or other benefits (collectively, “Benefits”) derived or received by Executive as a result of any transactions constituting a breach of any of the Restrictive Covenants, and Executive
shall account for and pay overall such Benefits to the Company. 
  
     (d)    Severability of Covenants.    If any of the Restrictive Covenants, or any part thereof, or any of the other provisions of this Section 8 is held by a court
of competent jurisdiction or any other governmental authority to be invalid, void, unenforceable or against public policy for any reason, the remainder of the Restrictive Covenants or such other provisions shall remain in full force and effect and
shall in no way be affected, impaired or invalidated, and such court or authority shall be empowered to substitute, to the extent enforceable, provisions similar thereto or other provisions so as to provide to Employer, to the fullest extent
permitted by applicable law, the benefits intended by such provisions. 
  
     (e)    Definition and Survival.    For purposes of this Section 8 only, the term “Employer” shall mean Old Dominion and the Association, and any
subsidiary and affiliate of the Old Dominion and the Association. All provisions of this Section 8 shall survive termination of this Agreement. 
  
 9.        Conflicting Agreements.    Executive hereby represents and warrants that the execution of this Agreement and the performance
of his obligations hereunder will not breach or be in conflict with any other agreement to which he is a party or by which he is bound, and that he is not subject to any covenants against competition or similar covenants that would affect the
performance of his obligations hereunder. 
  
 10.        Definition of
“Person”.    For all purposes of this Agreement, the term “Person” shall mean an individual, a corporation, an association, a partnership, an estate, a trust and any other entity or organization.

  
 11.        Withholding.    All payments made
by Employer under this Agreement shall be net of any tax or other amounts required to be withheld by Employer under applicable law. 
  
 12.        Assignment; Successors and Assigns, etc.    Neither Employer nor Executive may make any assignment of this Agreement or any interest herein, by
operation of law or otherwise, without the prior written consent of the other party; provided, however, that Employer may assign its rights under this Agreement without the consent of Executive in the event that Employer shall hereafter effect a
reorganization, consolidate with or merge into any other Person, or transfer all or substantially all of its properties or assets to any other Person. This Agreement shall inure to the benefit of and be binding upon Employer and Executive, their
respective successors, executors, administrators, heirs and permitted assigns. In the event of Executive’s death prior to the completion by Employer of all payments due him under this 

 
 6 

  
 Agreement, Employer shall continue such payments to Executive’s beneficiary designated in writing
to Employer prior to his death (or to his estate, if he fails to make such designation). 
  
 13.      Enforceability.    If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then
the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this
Agreement shall be valid and enforceable to the fullest extent permitted by law. 
  
 14.      Waiver.    No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of any part to require the
performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

  
 15.      Notices.    Any notices, requests, demands and
other communications provided for by this Agreement shall be sufficient if in writing and delivered in person or sent by registered or certified mail, postage prepaid (in which case notice shall be deemed to have been given on the third day after
mailing), or by overnight delivery by a reliable overnight courier service (in which case notice shall be deemed to have been given on the day after delivery to such courier service) to Executive at the last address Executive has filed in writing
with Employer or, in the case of Employer, at the main offices of the Old Dominion or the Association, to the attention of the Board of Directors. 
  
 16.      Amendment.    This Agreement may be amended or modified only by a written instrument signed by Executive and by a duly authorized
representative of Employer. 
  
 17.      Governing
Law.    This is a Virginia contract and shall be construed under and be governed in all respects by the laws of the Commonwealth of Virginia, without regard to its conflict of laws provisions. 
  
 18.       Entire Agreement.    This Agreement constitutes the entire
understanding among the parties, superseding any previous understandings, oral or written, pertaining to the subject matter contained herein. No party has relied or will rely upon any oral or other written representation or oral or written
information made or given to such party by any other party, representative of such party or anyone acting on its behalf. 
  
 [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 

 
 7 

  
 IN WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by
Employer, by its duly authorized officers, and by Executive, as of the date first above written. 
  
 OLD DOMINION ELECTRIC COOPERATIVE 
  
 By:    /s/
VERNON N. BRINKLEY         
 Vernon N. Brinkley

 Chairman of the Board 
  
 Date:    11/12/02                     
  
 VIRGINIA, MARYLAND AND DELAWARE 
 ASSOCIATION OF ELECTRIC COOPERATIVES 
  
 By:    /s/
GLENN F. CHAPPELL         
 Glenn F. Chappell

 Chairman of the Board 
  
 Date:    11/12/02                     
  
  
       /s/    JACKSON E. REASOR, JR.         
         Jackson E. Reasor, Jr. 
  
 Date:    November 12,
2002                        
  
 Address:   8220 Kingsdown Ct.                

  
                   Richmond, VA 23229               

 
 8

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