Exhibit 10.(iii)
FORM OF AMENDMENT TO
EMPLOYMENT AGREEMENT
This Amendment is made to the Employment Agreement (the "Agreement")
between _______________(the "Executive") and Dominion Resources, Inc. (the
"Company") dated __________, 19__.
The Company and the Executive desire to modify the Agreement and
therefore agree as follows:
If the Company terminates the Executive's employment, other than for
Cause (as defined in the Agreement), during the term of the Agreement, the
Executive will be entitled to receive the following additional benefits stated
in paragraphs 1 and 2 below.
1. The Executive shall become fully vested in any and all stock
options granted to the Executive under any Company plan which have
not become exercisable as of the Executive's termination of
employment.
2. All of the Executive's stock options (including options
vested under paragraph 1) shall remain exercisable until the
applicable option expiration date.
If the Company terminates the Executive's employment, other than for
Cause, during the term of the Agreement under circumstances in which the
Executive is entitled to benefits similar to the benefits that would have been
payable if the Company had terminated the Executive's employment other than for
Cause, the Executive will be entitled to receive the additional benefits stated
in paragraphs 1 and 2 above.
In all other respects, the Agreement shall continue in effect.
WITNESS the following signatures.
Dominion Resources, Inc.
Dated:_________________ By:________________________
Executive
Dated:_________________ By:________________________
Executive
