{\rtf1\deflang1033\deflangfe1033\margl720\margr720\margt360\margb360{\stylesheet{\fs20\lang1033\snext0 Normal;} {\s1\sb240\keepn{\*\pn \pnlvl1\pndec\pnprev1\pnstart1\pnsp144}\b\f0\fs30\lang1033 \sbasedon0\snext0 heading 1;} {\s2\sb200\keepn{\*\pn \pnlvl2\pndec\pnprev1\pnstart1\pnsp144{\pntxtb.}}\b\f0\fs26\lang1033 \sbasedon0\snext0 heading 2;} {\s3\sb180\keepn{\*\pn \pnlvl3\pndec\pnprev1\pnstart1\pnsp144{\pntxtb.}}\b\f0\fs22\lang1033 \sbasedon0\snext0 heading 3;} {\s4\sb160\keepn{\*\pn \pnlvl4\pnucltr\pnprev1\pnstart1\pnsp144{\pntxtb.}}\b\f0\fs22\lang1033 \sbasedon0\snext0 heading 4;} {\s5\sb140\keepn{\*\pn \pnlvl5\pncltr\pnprev1\pnstart1\pnsp144}\b\f0\fs20\lang1033 \sbasedon0\snext0 heading 5;} {\s6\tqc\lang1033\sbasedon0\snext6 footer;} {\*\cs16 \additive\super\sbasedon10 footnote reference;} {\*\cs18 \additive\sbasedon10 page number;}} {\fonttbl{\f0\fnil Times New Roman;}{\f1\fnil Courier New}{\f2005\fnil Courier New;}{\f2010\fnil Wingdings;}{\f2020\fnil Webdings;}{\f2\fnil Arial;}{\f3\fnil Arial;}{\f4\fnil LucidaHandwriting;}{\f5\fnil Symbol;}{\f6\fnil Symbol;}{\f7\fnil Ferdsch;}{\f30\fnil Myriad Cn Semibold;}{\f31\fnil Myriad Roman;}{\f50\fnil Courier New;}{\f51\fnil Times New Roman;}{\f52\fnil Arial;}{\f53\fnil Symbol;}{\f54\fnil Wingdings;}{\f55\fnil Wingdings 2;}{\f56\fnil Wingdings 3;}{\f57\fnil Webdings;}{\f58\fnil Arial Narrow;}{\f59\fnil Arial Unicode MS;}{\f60\fnil Cyberbit;}{\f61\fnil Morningstar 1U Light;}{\f62\fnil Calibri;}} {\colortbl;\red0\green0\blue0;\red127\green0\blue0;\red0\green0\blue255;\red127\green127\blue127;\red0\green51\blue153;\red255\green204\blue0;\red255\green255\blue255;\red246\green244\blue236;\red0\green0\blue0;} {\*\bkmkstart filing_1}{\*\bkmkend filing_1}{\*\bkmkstart doc_1_1}{\*\bkmkend doc_1_1} \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON JULY 6, 1995 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql FILE NO. 33-60271 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql SECURITIES AND EXCHANGE COMMISSION \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql WASHINGTON, D.C. 20549 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ---------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql POST-EFFECTIVE AMENDMENT NO. 1 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TO \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql FORM S-3 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql REGISTRATION STATEMENT \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql UNDER \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql THE SECURITIES ACT OF 1933 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ---------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql VIRGINIA ELECTRIC AND POWER COMPANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql VIRGINIA 54-0418825 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (STATE OF INCORPORATION) (I.R.S. EMPLOYER IDENTIFICATION NO.) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ---------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ONE JAMES RIVER PLAZA, RICHMOND, VIRGINIA 23219-3932 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (804) 771-3000 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE, OF \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ---------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql J. KENNERLY DAVIS, JR., VICE PRESIDENT, TREASURER AND CORPORATE SECRETARY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PHILIP W. NICHOLS, CASH MANAGEMENT ADMINISTRATOR \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql VIRGINIA ELECTRIC AND POWER COMPANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ONE JAMES RIVER PLAZA, RICHMOND, VIRGINIA 23219-3932 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (804) 771-3000 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (NAME, ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA CODE, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql OF AGENT FOR SERVICE) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ---------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql COPIES TO: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql JOHN J. BEARDSWORTH, JR. ROBERT L. BURRUS, JR. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql RIVERFRONT PLAZA, EAST TOWER ONE JAMES CENTER \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql RICHMOND, VIRGINIA 23219-4074 RICHMOND, VIRGINIA 23219-4030 \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql APPROXIMATE DATE OF COMMENCEMENT OF PROPOSED SALE TO THE PUBLIC: FROM TIME TO \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TIME AFTER EFFECTIVENESS. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If the only securities being registered on this Form are being offered \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql pursuant to dividend or interest reinvestment plans, please check the following \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql box. [_] \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If any of the securities being registered on this Form are to be offered on a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql delayed or continuous basis pursuant to Rule 415 under the Securities Act of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 1933, other than securities offered only in connection with dividend or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest reinvestment plans, please check the following box. [X] \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ---------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql AMENDING: PART II--EXHIBITS 4(ii) AND 4(iii) \par\pard\plain\fs16 \page \par\pard\plain\fs16{\*\bkmkstart part_1_2_1}{\*\bkmkend part_1_2_1}\pard\plain\cf1\f50\fs16\ql SIGNATURES \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PURSUANT TO THE REQUIREMENTS OF THE SECURITIES ACT OF 1933, THE REGISTRANT \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CERTIFIES THAT IT HAS REASONABLE GROUNDS TO BELIEVE THAT IT MEETS ALL OF THE \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql REQUIREMENTS FOR FILING ON FORM S-3 AND HAS DULY CAUSED THIS REGISTRATION \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql STATEMENT TO BE SIGNED ON ITS BEHALF BY THE UNDERSIGNED, HEREUNTO DULY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql AUTHORIZED, IN THE CITY OF RICHMOND, COMMONWEALTH OF VIRGINIA, ON THE 6TH DAY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql OF JULY, 1995. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Virginia Electric and Power Company \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql By /s/ John B. Adams, Jr.* \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ----------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (JOHN B. ADAMS, JR. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CHAIRMAN OF THE BOARD OF DIRECTORS) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PURSUANT TO THE REQUIREMENTS OF THE SECURITIES ACT OF 1933, THIS REGISTRATION \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql STATEMENT HAS BEEN SIGNED BELOW BY THE FOLLOWING PERSONS IN THE CAPACITIES AND \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ON THE 6TH DAY OF JULY, 1995. \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql SIGNATURES TITLE \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ John B. Adams, Jr.* Chairman of the Board of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- Directors and Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql JOHN B. ADAMS, JR. \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ J. T. Rhodes* President (Chief Executive \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- Officer) and Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql J. T. RHODES \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ Tyndall L. Baucom* Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TYNDALL L. BAUCOM \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ James F. Betts* Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql JAMES F. BETTS \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql BENJAMIN J. LAMBERT, III \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ Richard L. Leatherwood* Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql RICHARD L. LEATHERWOOD \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ Harvey L. Lindsay, Jr.* Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql HARVEY L. LINDSAY, JR. \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ William T. Roos* Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql WILLIAM T. ROOS \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ Richard L. Sharp* Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql RICHARD L. SHARP \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ Robert H. Spilman* Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ROBERT H. SPILMAN \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ William G. Thomas* Director \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql WILLIAM G. THOMAS \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql /s/ R. E. Rigsby* Senior Vice President--Finance \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- and Controller (Chief Financial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql R. E. RIGSBY Officer and Principal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Accounting Officer) \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql */s/ Philip W. Nichols \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - ------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PHILIP W. NICHOLS \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Attorney-in-Fact \par\pard\plain\fs16 \page \par\pard\plain\fs16{\*\bkmkstart part_1_2_2}{\*\bkmkend part_1_2_2}\pard\plain\cf1\f50\fs16\ql INDEX TO EXHIBITS \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PAGE NO. IN \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql SEQUENTIALLY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql NUMBERED \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql REGISTRATION \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql STATEMENT \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------ \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 1 --Form of Distribution Agreement for the Notes between \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Company and Merrill Lynch & Co., Merrill Lynch, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Pierce, Fenner & Smith Incorporated, Goldman, Sachs & \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Co. and Morgan Stanley & Co. Incorporated (previously \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql filed). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 4(i) --Trust Indenture, dated as of April 1, 1988, Exhibit \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 4(i), File No. 33-21319, incorporated by reference; \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql First Supplemental Indenture, dated August 1, 1989, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Exhibit 4(ii), File No. 33-30532, incorporated by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql reference. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 4(ii) --Form of Fixed Rate Medium-Term Note, Series F (filed \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql herewith). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 4(iii) --Form of Floating Rate Medium-Term Note, Series F \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (filed herewith). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 5 --Legality Opinion of Hunton & Williams (previously \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql filed). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 8 --Tax Opinion of Hunton & Williams (previously filed). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 12 --Statements regarding computation of ratios \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (previously filed). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 23(i) --Consents of Hunton & Williams (contained in Exhibits \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 5 and 8). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 23(ii) --Consent of Jackson & Kelly (previously filed). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 23(iii) --Consent of Deloitte & Touche LLP (previously filed). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 24 --Power of Attorney (previously filed). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 25 --Statement of eligibility of Trustee (previously \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql filed). \par\pard\plain\fs16 \par\pard\plain\fs16 \page{\*\bkmkstart doc_1_2}{\*\bkmkend doc_1_2} \par\pard\plain\fs16 \page \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql REGISTERED REGISTERED \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql NO. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CUSIP NO. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql VIRGINIA ELECTRIC AND POWER COMPANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql MEDIUM-TERM NOTE, SERIES F \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (FIXED RATE) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql [Unless and until it is exchanged in whole or in part for Securities in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql definitive form, this Security may not be transferred except as a whole by The \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Depository Trust Company (the Depositary) (55 Water Street, New York, New \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql York) to a nominee of the Depositary or by a nominee of the Depositary or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql another nominee of the Depositary or by the Depositary or any such nominee to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql a successor Depositary or a nominee of such Depositary. Unless (i) this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql certificate is presented by an authorized representative of the Depositary to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the issuer or its agent for registration of transfer, exchange or payment, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (ii) any certificate issued is registered in the name of Cede & Co. or in such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql other names as requested by an authorized representative of the Depositary and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (iii) any payment is made to Cede & Co. or such other name ANY TRANSFER, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql WRONGFUL since the registered owner hereof has an interest herein.]* \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Principal Amount: Interest Rate: Maturity Date: \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Original Issue Date: Initial Redemption Annual Redemption \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Percentage: Percentage Reduction: \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Initial Redemption Limitation Date: Authorized Denomination \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date: (if other than U.S. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql $1,000 and integral \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql multiples thereof): \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Refunding Rate: Specified Currency: Additional Terms (if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any): \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Payment Regular Record Exchange Rate Agent: \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date(s): Date(s): \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Virginia Electric and Power Company, a corporation duly organized and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql existing under the laws of the Commonwealth of Virginia (the Company, which \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql term includes any successor corporation under the Indenture referred to on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql reverse hereof), for value received, hereby promises to pay to \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql or registered assigns, the principal sum of \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the Maturity Date shown above (or upon earlier redemption), and to pay \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest thereon from the Original Issue Date shown above, or from the most \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql recent Interest Payment Date to which interest has been paid or duly provided \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql for, semiannually in arrears on each Interest Payment Date as specified above \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in each year, commencing on the Interest Payment Date next succeeding the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Original Issue Date shown above and on the Maturity Date shown above (or upon \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql earlier redemption) at the rate per annum shown above until the principal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof is paid or made available for payment and (to the extent that the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment of such interest shall be legally enforceable) on any overdue \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal and on any overdue installment of interest. The interest so payable, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and punctually paid or duly provided for, on any Interest Payment Date (other \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql than an Interest Payment Date that is the Maturity Date or Redemption Date) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will, as provided in such Indenture, be paid to the Person in whose name this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Medium-Term Note, Series F (the Note), or one or more predecessor Notes, is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql registered at the close of business on the Regular Record Date for such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest, which shall be the Regular Record Date as specified above (whether \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql or not a Business Day, as hereinafter defined), as the case may be, next \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql preceding such Interest Payment Date, provided, however, that, if the Original \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Issue Date shown above is between a Regular Record Date and the next \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql succeeding Interest Payment Date, interest payments will commence on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql second Interest Payment Date next succeeding the Original Issue Date to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql holder of this Note on the Regular Record Date with respect to such second \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Payment Date; and provided, further, that interest payable on an \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Payment Date that is the Maturity Date or Redemption Date will be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql paid to the Person to whom principal is payable. Except as otherwise provided \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in the Indenture (hereinafter defined), any such interest not so punctually \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql paid or duly provided for will forthwith cease to be payable to the Holder on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such Regular Record Date and may either be paid to the Person in whose name \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql this Note (or one or more predecessor Notes) is registered at the close of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql business on a Special Record Date for the payment of such defaulted interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to be fixed by the Trustee, notice whereof shall be given to Holders of Notes \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of this series not less than 10 days prior to such Special Record Date, or be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql paid at any time in any other lawful manner not inconsistent with the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql requirements of any securities exchange, if any, on which the Notes of this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql series shall be listed, and upon such notice as may be required by any such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql exchange, all as more fully provided in the Indenture. Payment of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal of (and premium, if any) and interest on this Note will be made in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql immediately available funds (upon surrender of the Note, in the case of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment due at the Maturity Date or upon earlier redemption, at the Corporate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Trust Office of the Trustee, maintained for that purpose in the Borough of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Manhattan, New York City currently located at 450 W. 33rd St. New York, New \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql York 10001) if such payment of principal or interest is to be made in a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Specified Currency other than U.S. dollars, as provided on the reverse hereof, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by wire transfer to an account maintained by the Holder hereof in the country \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of said Specified Currency shown above (the Holder's Overseas Account), as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql designated by the Holder of this Note by written notice to the Trustee on or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql prior to the Regular Record Date or at least 16 days prior to the Maturity \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date or in connection with any transfer after such 16th day. In the absence of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such designation or if such wire transfer cannot be made for any other reason, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Trustee will mail a notice to the address of the Person entitled thereto \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql as such address shall appear on the Security Register on the Regular Record \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date for any payment of interest or on the date of such notice in connection \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql with payment of principal, as the case may be, requesting a designation \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql pursuant to which such wire transfer can be made and no such payment shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql made until such designation is made. As more fully provided on the reverse \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof, if payment of principal of (and premium, if any) and interest on this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note is to be made in U.S. dollars, payment will be made (upon surrender of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Note, in the case of payment due at the Maturity Date or upon earlier \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql redemption, at the foregoing Corporate Trust Office) by wire transfer to an \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql account designated by the Holder (the Holder's U.S. Account) by written notice \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to the Trustee on or prior to the Regular Record Date or at least 16 days \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql prior to the Maturity Date, or, in the absence of such designation, by check \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql mailed to the address of the Person entitled thereto as such address shall \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql appear on the Security Register on the Regular Record Date for any payment of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest or the Maturity Date shown above or Redemption Date for payment of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal, as the case may be. As more fully provided on the reverse hereof, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment of the principal of (and premium, if any) and interest on this Note \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will be made in such coin or currency of the United States of America as at \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the time of payment is legal tender for payment of public and private debts \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql based on then prevailing exchange rates with respect to the Specified Currency \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and the U.S. dollar or, if payment of the principal of and interest on this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note is to be made in a Specified Currency other than U.S. dollars, subject to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable laws and regulations, in the Specified Currency shown above. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Unless the certificate of authentication hereon has been executed by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Trustee by manual signature, this Security shall not be entitled to any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql benefit under the indenture or be valid or obligatory for any purpose. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql IN WITNESS WHEREOF, the Company has caused this instrument to be duly \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql executed under its corporate seal. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TRUSTEE'S CERTIFICATE OF AUTHENTICATION \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql This is one of the Securities of the series designated therein referred to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in the within-mentioned Indenture. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Dated: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CHEMICAL BANK, VIRGINIA ELECTRIC AND POWER \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql as Trustee COMPANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql [SEAL OF VIRGINIA \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ELECTRIC AND POWER \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql By COMPANY APPEARS By \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql HERE] \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Authorized Officer President \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql By \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Vice President \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Attest: \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Assistant Corporate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Secretary \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql * The bracketed language would apply to and appear on only a Book-Entry Note. \par\pard\plain\fs16 \page \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql [REVERSE OF NOTE] \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql VIRGINIA ELECTRIC AND POWER COMPANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql MEDIUM-TERM NOTE, SERIES F \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql This Note is one of a duly authorized issue of Securities of the Company, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql issued and issuable in one or more series under an indenture, dated as of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql April 1, 1988, as supplemented, (the Indenture) between the Company and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Chemical Bank, as Trustee (the Trustee, which term includes any successor \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql trustee under the Indenture), to which Indenture and all indentures \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql supplemental thereto reference is hereby made for a statement of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql respective rights, limitations of rights, duties and immunities thereunder of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Company, the Trustee and the Holders of the Securities issued thereunder \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and of the terms upon which said Securities are, and are to be, authenticated \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and delivered. This Security is one of the series designated on the face \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof as Medium-Term Notes, Series F (the Notes) in aggregate principal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql amount of up to U.S. $200 million or its equivalent in foreign currencies or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql currency units, based upon the applicable exchange rate at the time of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql issuance. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The Notes are identical except for Specified Currency, denomination, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest rate, issue date, Maturity Date and redemption terms, if any. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The principal of (and premium, if any) and interest on this Note are payable \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by the Company in the Specified Currency shown on the face hereof. If this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note is denominated in a Specified Currency other than U.S. dollars and if the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Holder hereof shall have elected to receive payments in U.S. dollars, Chemical \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Bank, in its capacity as exchange rate agent, or such other Person as shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql appointed by the Company (the Exchange Rate Agent), will convert payments of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal of and interest on this Note to U.S. dollars. The amount to be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql received by a Holder of this Note electing to receive payments in U.S. dollars \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will be based on the highest bid quotation in New York City received by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Exchange Rate Agent at approximately 11:00 A.M. New York City time on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql second Business Day preceding the applicable payment date from three \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql recognized foreign exchange dealers (one of which may be the Exchange Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Agent) for the purchase by the quoting dealer of the Specified Currency for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql U.S. dollars for settlement on such payment date in the aggregate amount of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Specified Currency payable to all Holders of Notes electing to receive \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment in U.S. dollars and at which the applicable dealer commits to execute \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql a contract. If such bid quotations are not available, payments will be made in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Specified Currency. All currency exchange costs will be borne pro rata by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Holders electing payment in U.S. dollars by deductions from such payments \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in U.S. dollars. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql As used herein, "Business Day" means any day, other than a Saturday or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Sunday, that is neither a legal holiday nor a day on which banking \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql institutions are authorized or required by law or executive order to close in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql New York City provided, however, that, with respect to Notes the payment of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql which is to be made in a Specified Currency other than U.S. dollars, such day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql is also not a day on which banking institutions are authorized or required by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql law or executive order to close in the Principal Financial Center of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql country of such Specified Currency (or, in the case of the European Currency \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Units (ECU), is not a day designated as an ECU Non-Settlement Day by the ECU \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Banking Association or otherwise generally regarded in the ECU interbank \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql market as a day on which payments in ECUs shall not be made). "Principal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Financial Center" means the capital city of the country issuing the Specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency, except that with respect to U.S. dollars, Deutsche Marks, Dutch \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Guilders, Italian Lire, and Swiss Francs, the "Principal Financial Center" \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be New York City, Frankfurt, Amsterdam, Milan, and Zurich, respectively. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If this Note is denominated in a Specified Currency other than U.S. dollars, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Holder of this Note may elect to receive payment of the principal of and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest on this Note in U.S. dollars by transmitting a written request for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such payment to the Trustee at its Corporate Trust Office in New York City on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql or prior to the Regular Record Date or at least 16 days prior to the Maturity \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date, as the case may be. Such request may be in writing (mailed or hand \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql delivered) or may be by cable, telex or other form of facsimile transmission. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The Holder of this Note need not file a separate election for each such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment. Such election, once properly made, will remain in effect until this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note is transferred or until changed by written notice to the Trustee, but \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql written notice of any such change must be received by the Trustee on or prior \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to the Regular Record Date or at least 16 days prior to the Maturity Date, as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the case may be. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql In order for the Holder of this Note to receive payments by wire transfer, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such Holder shall designate an appropriate account (being either the Holder's \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Overseas Account or the Holder's U.S. Account, as the case may be). Such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql designation shall be made by filing the appropriate information with the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Trustee at its Corporate Trust Office in New York City on or prior to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Regular Record Date for an Interest Payment Date or at least 16 days prior to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Maturity Date, except as provided on the face hereof. The Trustee will, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql subject to applicable laws and regulations (in the case of a Specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency other than U.S. dollars) and until it receives notice to the contrary \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql or until this Note is transferred, make such payment and all succeeding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payments to such Holders by wire transfer to the designated Holder's Overseas \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Account or Holder's U.S. Account, as the case may be. The Company will pay any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql administrative costs imposed by banks in connection with making wire transfer \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of payments, but any tax, assessment, governmental or other charge imposed \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql upon such payments will be borne by the Holder of this Note and deducted \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql therefrom. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If the Specified Currency other than U.S. dollars is not available for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment of principal or interest with respect to this Note due to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql imposition of exchange controls or other circumstances beyond the control of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Company, the Company will be entitled to satisfy its obligations to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Holder of this Note by making such payment in U.S. dollars on the basis of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable Exchange Rate (defined as the noon buying rate in New York City for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql cable transfers for such Specified Currency, as certified for customs purposes \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by the Federal Reserve Bank of New York or, in the case of ECUs, the rate of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql exchange determined by the Commission of the European Communities or any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql successor thereto as published in the Official Journal of the European \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Communities, or any successor publication) as of the most recent date on which \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql an Exchange Rate was available. The Exchange Rate determined as provided above \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql as certified by the Company to the Trustee shall be conclusive absent manifest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql error. Any payment made under such circumstances in U.S. dollars will not \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql constitute an Event of Default under the Indenture. A good faith determination \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by the Company that the Specified Currency is unavailable shall be binding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql upon the Trustee and the Holder of this Note. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql In the case where the Interest Payment Date, the Maturity Date or the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Redemption Date does not fall on a Business Day, payment of principal (and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql premium, if any) or interest otherwise payable on such day need not be made on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such day, but may be made on the next succeeding Business Day with the same \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql force and effect as if made on the Interest Payment Date, Maturity Date or the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Redemption Date and no interest shall accrue for the period from and after the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Payment Date, Maturity Date or the Redemption Date. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Payments of interest on this Note will include interest accrued to but \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql excluding the respective Interest Payment Dates. Interest payments for this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note shall be computed and paid on the basis of a 360-day year of twelve 30- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql day months. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If so provided on the face of this Note, this Note may be redeemed by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company on and after the Initial Redemption Date, if any, indicated on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql face hereof. If no Initial Redemption Date is set forth hereof, this Note may \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql not be redeemed prior to the Maturity Date. On and after the Initial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Redemption Date, if any, this Note may be redeemed at any time in whole or in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql part (provided that any remaining principal amount of this Note shall be equal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to an authorized denomination) at the option of the Company, at the applicable \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Redemption Price (as defined below), together with interest thereon payable to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Redemption Date, on notice given not more than 60 nor less than 30 days \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql prior to the Redemption Date. In the event of redemption of this Note in part \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql only, a new Note for the unredeemed portion hereof shall be issued in the name \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of the Holder hereof upon the surrender hereof. The Notes will not have a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql sinking fund. The "Redemption Price" shall initially be the Initial Redemption \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Percentage, shown on the face hereof, of the principal amount of this Note to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql be redeemed and shall decline at each anniversary of the Initial Redemption \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date, shown on the face hereof, by the Annual Redemption Percentage Reduction, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql if any, shown on the face hereof, of the principal amount to be redeemed until \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Redemption Price is 100% of such principal amount. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Notwithstanding the foregoing, the Company may not, prior to the Limitation \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date specified on the face hereof, if any, redeem this Note as contemplated by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the next preceding paragraph as a part of, or in anticipation of, any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql refunding operation by the application, directly or indirectly, of monies \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql borrowed having an interest cost to the Company (calculated in accordance with \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql generally accepted financial practice) of less than the Refunding Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof, if any. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If an Event of Default with respect to the Notes shall occur and be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql continuing, the principal of the Notes may be declared due and payable in the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql manner and with the effect provided in the Indenture. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The Indenture permits, with certain exceptions as therein provided, the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql amendment thereof and the modification of the rights and obligations of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company and the rights of the Holders of the Securities of each series to be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql affected under the Indenture at any time by the Company and the Trustee with \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the consent of the Holders of a majority in principal amount of the Securities \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql at the time Outstanding of each series to be affected. The Indenture also \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql contains provisions permitting the Holders of specified percentages in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal amount of the Securities of each series at the time Outstanding, on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql behalf of the Holders of all Securities of such series, to waive compliance by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Company with certain provisions of the Indenture and certain past defaults \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql under the Indenture and their consequences. Any such consent or waiver by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Holder of this Note shall be conclusive and binding upon such Holder and upon \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql all future Holders of this Note and of any Note issued upon the registration \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of transfer hereof or in exchange herefor or in lieu hereof, whether or not \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql notation of such consent or waiver is made upon this Note. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql No reference herein to the Indenture and no provision of this Note or of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Indenture shall alter or impair the obligation of the Company, which is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql absolute and unconditional, to pay the principal of (and premium, if any) and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest on this Note at the times, place and rate, in the coin or currency, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and to the manner, herein prescribed. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql As provided in the Indenture and subject to certain limitations therein set \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql forth, the transfer of this Note is registerable in the Security Register, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql upon surrender of this Note, for registration of transfer at the office or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql agency of the Company in any place where the principal of (and premium, if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any) and interest on this Note are payable, duly endorsed by, or accompanied \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by a written instrument of transfer in form satisfactory to the Company and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Security Registrar duly executed by, the Holder hereof or his attorney \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql duly authorized in writing, and thereupon one or more new Notes having the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql same Stated Maturity and Original Issue Date, of authorized denominations and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of like tenor and for the same aggregate principal amount in the same \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Specified Currency, will be issued to the designated transferee or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql transferees. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The Notes are issuable in registered form only, without coupons, and unless \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql otherwise specified on the face hereof, in denominations of U.S. $1,000 and in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql integral multiples of U.S. $1,000 in excess thereof or the approximate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql equivalent of U.S. $1,000 in the Specified Currency in which this Note is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql denominated (if not U.S. dollars) at the Exchange Rate on the Business Day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql immediately preceding the trade date, rounded down to the nearest integral \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql multiple of 1,000 units of said Specified Currency and in any amount in excess \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql thereof that is an integral multiple of 1,000 units of such Specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency. As provided in the Indenture and subject to certain limitations \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql therein set forth, Notes are exchangeable for a like \par\pard\plain\fs16 \page \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql aggregate principal amount of Notes having the same Specified Currency, Stated \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Maturity and Original Issue Date of any authorized denominations as requested \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by the Holder surrendering the same, upon surrender of the Note or Notes to be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql exchanged at the office or agency of the Company. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql No service charge shall be made for any such registration of transfer or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql exchange, but the Company may require payment of a sum sufficient to cover any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql tax or other governmental charge payable in connection therewith. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Prior to due presentment of this Note for registration of transfer, the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company, the Trustee and any agent of the Company, or the Trustee may treat \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Person in whose name this Note is registered as the absolute owner hereof \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql for all purposes, whether or not this Note be overdue, and neither the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company, the Trustee nor any such agent shall be affected by notice to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql contrary. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql No recourse for the payment of the principal of (and premium, if any) or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest on this Note, or for any claim based hereon or otherwise in respect \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof, and no recourse under or upon any obligation, covenant or agreement of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Company in the Indenture or any indenture supplemental thereto or in any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note, or because of the creation of any indebtedness represented thereby, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be had against any incorporator, stockholder, official or director, as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such, past, present or future, of the Company or of any successor entity, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql either directly or through the Company or any successor company, whether by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql virtue of any constitution, statute or rule of law or by the enforcement of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any assessment or penalty or otherwise, all such liability being, by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql acceptance hereof and as part of the consideration for the issue hereof, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql expressly waived and released. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reference in this Note to "U.S.$" or "U.S. dollars", is to the currency of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the United States of America. Reference in this Note to the "Specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency" is to the Specified Currency shown on the face hereof. All terms \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql used in this Note and not otherwise defined herein which are defined in the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Indenture shall have the meanings assigned to them in the Indenture. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql This Note shall be governed by and construed in accordance with the laws of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the State of New York. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ABBREVIATIONS \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The following abbreviations, when used in the inscription on the face of this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql instrument, shall be construed as though they were written out in full \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql according to applicable laws or regulations: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TEN COM--as tenants in common \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TEN ENT--as tenants by the entireties \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql JT TEN --as joint tenants with rights of survivorship and not as tenants in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql common \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql UNIF GIFT MIN ACT-- Custodian \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------- ------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (Cust) (Minor) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Under Uniform Gifts to Minors \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Act \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql --------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (State) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Additional abbreviations may also be used though not in the above list. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql FOR VALUE RECEIVED, the undersigned hereby sell(s), and transfer(s) unto \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Please insert social security or other \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql identifying number of assignee \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the within Note and all rights thereunder, hereby irrevocably constituting and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql appointing Attorney \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to transfer said Note on the books of the Company, with full power of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql substitution in the premises. \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Dated: \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql -------------------------------- -------------------------------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql -------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql NOTICE: The signature to this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql assignment must correspond with the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql name as written upon the face of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql within instrument in every particular, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql without alteration or enlargement, or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any change whatever. \par\pard\plain\fs16 \page{\*\bkmkstart doc_1_3}{\*\bkmkend doc_1_3} \par\pard\plain\fs16 \page \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql REGISTERED REGISTERED \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ---------------------------------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql NO. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CUSIP NO. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql VIRGINIA ELECTRIC AND POWER COMPANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql MEDIUM-TERM NOTE, SERIES F \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (FLOATING RATE) \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql [UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CERTIFICATED FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql DEPOSITORY TRUST COMPANY (THE DEPOSITARY) (55 WATER STREET, NEW YORK, NEW \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql YORK) TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql DEPOSITARY. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql DEPOSITORY TO THE ISSUER HEREOF OR ITS AGENT FOR REGISTRATION OF TRANSFER, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CO. OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql DEPOSITARY AND ANY PAYMENT IS MADE TO CEDE & CO., ANY TRANSFER, PLEDGE OR \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PRINCIPAL AMOUNT: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql BASE RATE: ORIGINAL ISSUE DATE: STATED MATURITY DATE: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql IF LIBOR: IF CMT RATE: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql [ ] LIBOR Reuters Designated CMT Telerate Page: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql [ ] LIBOR Telerate\par\pard\plain\f0\fs16\par\pard\plain\cf1\f50\fs14\ql Designated CMT Maturity Index: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql INDEX CURRENCY: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql INDEX MATURITY: INITIAL INTEREST RATE: INITIAL INTEREST RESET DATE: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql SPREAD: MINIMUM INTEREST RATE: INTEREST PAYMENT DATE(S): \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql SPREAD MULTIPLIER: MAXIMUM INTEREST RATE: INTEREST RESET DATE(S): \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql INITIAL REDEMPTION INITIAL REDEMPTION ANNUAL REDEMPTION \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql DATE: PERCENTAGE: PERCENTAGE REDUCTION: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql DAY COUNT CONVENTION CALCULATION AGENT: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql [ ] Actual/360 for the period from to \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql [ ] Actual/Actual for the period from to \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql SPECIFIED CURRENCY: LIMITATION DATE: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql EXCHANGE RATE AGENT: REFUNDING RATE: \par\pard\plain\fs16\pard\plain\cf1\f50\fs14\ql OTHER/ADDITIONAL PROVISIONS: DEFAULT RATE: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Virginia Electric and Power Company (the Company, which term includes any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql successor corporation under the Indenture hereinafter referred to), for value \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql received, hereby promises to pay to \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql or registered assigns, the principal sum of \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the Stated Maturity Date specified above (or any Redemption Date as defined \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the reverse hereof) (each such Stated Maturity Date or Redemption Date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql being hereinafter referred to as the "Maturity Date" with respect to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal repayable on such date) and to pay interest thereon, at a rate per \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql annum equal to the Initial Interest Rate specified above until the Initial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Reset Date specified above and thereafter at a rate determined in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql accordance with the provisions specified above and on the reverse hereof with \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql respect to the Base Rate specified above until the principal hereof is paid or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql duly made available for payment, and (to the extent that the payment of such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest shall be legally enforceable) at the Default Rate per annum specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql above on any overdue principal, premium and/or interest. The Company will pay \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest in arrears on each Interest Payment Date, if any, specified above \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (each, an Interest Payment Date), commencing with the first Interest Payment \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date next succeeding the Original Issue Date specified above, and on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Maturity Date; provided, however, that if the Original Issue Date occurs \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql between a Record Date (as defined below) and the next succeeding Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Payment Date, interest payments will commence on the second Interest Payment \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date next succeeding the Original Issue Date to the holder of this Note on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Record Date with respect to such second Interest Payment Date. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest on this Note will accrue from, and including, the immediately \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql preceding Interest Payment Date to which interest has been paid or duly \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql provided for (or from, and including, the Original Issue Date if no interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql has been paid or duly provided for with respect to this Note) to, but \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql excluding, the applicable Interest Payment Date or the Maturity Date, as the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql case may be (each, an Interest Period. The interest so payable, and punctually \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql paid or duly provided for, on any Interest Payment Date will, subject to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql certain exceptions described herein, be paid to the person in whose name this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note (or one or more predecessor Notes) is registered at the close of business \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the fifteenth calendar day (whether or not a Business Day, as defined on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the reverse hereof) immediately preceding such Interest Payment Date (the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Record Date); provided, however, that interest payable on the Maturity Date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will be payable to the person to whom the principal hereof and premium, if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any, hereon shall be payable. Any such interest not so punctually paid or duly \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql provided for (Defaulted Interest) will forthwith cease to be payable to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql holder on any Record Date, and may either be paid to the person in whose name \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql this Note is registered at the close of business on a special record date (the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Special Record Date) for the payment of such Defaulted Interest to be fixed by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Trustee hereinafter referred to, notice whereof shall be given to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql holder of this Note by the Trustee not less than 10 calendar days prior to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such Special Record Date or be paid at any time in any other lawful manner not \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql inconsistent with the requirements of any securities exchange, if any, on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql which the Notes of this series shall be listed, and upon such notice as may be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql required by any such exchange, all as more fully provided in the Indenture. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Payment of principal of (and premium, if any) and interest on this Note will \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql be made in immediately available funds (upon surrender of the Note, in the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql case of payment due at the Maturity Date or upon earlier redemption, at the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Corporate Trust Office of the Trustee, maintained for that purpose in the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Borough of Manhattan, New York City, currently located at 450 W. 33rd Street, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql New York, New York 10001) if such payment of principal or interest is to be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql made in a Specified Currency other than U.S. dollars, as provided on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql reverse hereof, by wire transfer to an account maintained by the Holder hereof \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in the country of said Specified Currency shown above (the Holder's Overseas \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Account), as designated by the Holder of this Note by written notice to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Trustee on or prior to the Record Date or at least 16 days prior to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Maturity Date or in connection with any transfer after such 16th day. In the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql absence of such designation or if such wire transfer cannot be made for any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql other reason, the Trustee will mail a notice to the address of the Person \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql entitled thereto, as such address shall appear on the Security Register on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Record Date for any payment of interest or on the date of such notice in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql connection with payment of principal, as the case may be, requesting a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql designation pursuant to which such wire transfer can be made and no such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment shall be made until such designation is made. As more fully provided \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the reverse hereof, if payment of principal of (and premium, if any) and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest on this Note is to be made in U.S. dollars, payment will be made \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (upon surrender of the Note, in the case of payment due at the Maturity Date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql or upon earlier redemption, at the foregoing Corporate Trust Office) by wire \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql transfer to an account designated by the Holder (the Holder's U.S. Account) by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql written notice to the Trustee on or prior to the Record Date or at least 16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql days prior to the Maturity Date, or, in the absence of such designation, by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql check mailed to the address of the Person entitled thereto as such address \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall appear on the Security Register on the Record Date for any payment of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest or the Maturity Date shown above or Redemption Date for payment of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal, as the case may be. As more fully provided on the reverse hereof, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment of the principal of (and premium, if any) and interest on this Note \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will be made in such coin or currency of the United States of America as at \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the time of payment is legal tender for payment of public and private debts \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql based on then prevailing exchange rates with respect to the Specified Currency \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and the U.S. dollar or, if payment of the principal of and interest on this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note is to be made in a Specified Currency other than U.S. dollars, subject to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable laws and regulations, in the Specified Currency shown above. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS NOTE SET FORTH ON \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL HAVE THE SAME FORCE AND \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql EFFECT AS IF SET FORTH ON THE FACE HEREOF. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Unless the Certificate of Authentication hereon has been executed by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Trustee by manual signature, this Note shall not be entitled to any benefit \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql under the Indenture or be valid or obligatory for any purpose. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql IN WITNESS WHEREOF, the Company has caused this Note to be duly executed \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql under its corporate seal. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TRUSTEE'S CERTIFICATE OF AUTHENTICATION: \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql This is one of the Securities of the series designated therein referred to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in the within-mentioned Indenture. \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Dated: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CHEMICAL BANK, VIRGINIA ELECTRIC AND POWER COMPANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql as Trustee \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql [SEAL OF \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql VIRGINIA By \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql By ELECTRIC AND \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql POWER COMPANY President \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql APPEARS HERE] \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Authorized Officer \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql By \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Vice President \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Attest: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Assistant Corporate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Secretary \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql * The bracketed language would apply to and appear on only a Book-Entry Note. \par\pard\plain\fs16 \par\pard\plain\fs16 \page \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql [REVERSE OF NOTE] \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql VIRGINIA ELECTRIC AND POWER COMPANY \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql MEDIUM-TERM NOTE, SERIES F \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (FLOATING RATE) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If any Interest Payment Date other than the Maturity Date would otherwise be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql a day that is not a Business Day, such Interest Payment Date shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql postponed to the next succeeding Business Day, except that if LIBOR is an \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable Base Rate and such Business Day falls in the next succeeding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql calendar month, such Interest Payment Date shall be the immediately preceding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Business Day. If the Maturity Date falls on a day that is not a Business Day, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the required payment of principal, premium, if any, and/or interest shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql made on the next succeeding Business Day with the same force and effect as if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql made on the date such payment was due, and no interest shall accrue with \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql respect to such payment for the period from and after the Maturity Date to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql date of such payment on the next succeeding Business Day. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql This Note is one of a duly authorized issue of Securities of the Company, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql issued and issuable in one or more series under an indenture, dated as of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql April 1, 1988, as supplemented, (the Indenture) between the Company and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Chemical Bank, as Trustee (the Trustee, which term includes any successor \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql trustee under the Indenture), to which Indenture and all indentures \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql supplemental thereto reference is hereby made for a statement of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql respective rights, limitations of rights, duties and immunities thereunder of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Company, the Trustee and the Holders of the Securities issued thereunder \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and of the terms upon which said Securities are, and are to be, authenticated \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and delivered. This Security is one of the series designated on the face \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof as Medium-Term Notes, Series F (the Notes) in aggregate principal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql amount of up to U.S. $200 million or its equivalent in foreign currencies or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql currency units, based upon the applicable exchange rate at the time of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql issuance. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The Notes are identical except for Specified Currency, denomination, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest rate, issue date, Maturity Date and redemption terms, if any. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The principal of (and premium, if any) and interest on this Note are payable \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by the Company in the Specified Currency shown on the face hereof. If this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Note is denominated in a Specified Currency other than U.S. dollars and if the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Holder hereof shall have elected to receive payments in U.S. dollars, Chemical \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Bank, in its capacity as exchange rate agent, or such other Person as shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql appointed by the Company (the Exchange Rate Agent), will convert payments of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal of and interest on this Note to U.S. dollars. The amount to be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql received by a Holder of this Note electing to receive payments in U.S. dollars \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will be based on the highest bid quotation in New York City received by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Exchange Rate Agent at approximately 11:00 A.M. New York City time on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql second Business Day preceding the applicable payment date from three \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql recognized foreign exchange dealers (one of which may be the Exchange Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Agent) for the purchase by the quoting dealer of the Specified Currency for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql U.S. dollars for settlement on such payment date in the aggregate amount of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Specified Currency payable to all Holders of Notes electing to receive \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment in U.S. dollars and at which the applicable dealer commits to execute \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql a contract. If such bid quotations are not available, payments will be made in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Specified Currency. All currency exchange costs will be borne pro rata by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Holders electing payment in U.S. dollars by deductions from such payments \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in U.S. dollars. If this Note is denominated in a Specified Currency other \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql than U.S. dollars, the Holder of this Note may elect to receive payment of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal of and interest on this Note in U.S. dollars by transmitting a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql written request for such payment to the Trustee at its Corporate Trust Office \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in New York City on or prior to the Record Date or at least 16 days prior to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Maturity Date, as the case may be. Such request may be in writing (mailed \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql or hand delivered) or may be by cable, telex or other form of facsimile \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql transmission. The Holder of this Note need not file a separate election for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql each such payment. Such election, once properly made, will remain in effect \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql until this Note is transferred or until changed by written notice to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Trustee, but written notice of any such change must be received by the Trustee \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on or prior to the Record Date or at least 16 days prior to the Maturity Date, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql as the case may be. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql In order for the Holder of this Note to receive payments by wire transfer, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such Holder shall designate an appropriate account (being either the Holder's \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Overseas Account or the Holder's U.S. Account, as the case may be). Such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql designation shall be made by filing the appropriate information with the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Trustee at its Corporate Trust Office in New York City on or prior to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Record Date for the next succeeding Interest Payment Date or at least 16 days \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql prior to the Maturity Date, except as provided on the face hereof. The Trustee \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will, subject to applicable laws and regulations (in the case of a Specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency other than U.S. dollars) and until it receives notice to the contrary \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql or until this Note is transferred, make such payment and all succeeding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payments to such Holders by wire transfer to the designated Holder's Overseas \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Account or Holder's U.S. Account, as the case may be. The Company will pay any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql administrative costs imposed by banks in connection with making wire transfer \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of payments, but any tax, assessment, governmental or other charge imposed \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql upon such payments will be borne by the Holder of this Note and deducted \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql therefrom. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If the Specified Currency other than U.S. dollars is not available for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payment of principal or interest with respect to this Note due to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql imposition of exchange controls or other circumstances beyond the control of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Company, the Company will be entitled to satisfy its obligations to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Holder of this Note by making such payment in U.S. dollars on the basis of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable Exchange Rate (defined as the noon buying rate in New York City for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql cable transfers for such Specified Currency, as certified for customs purposes \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by the Federal Reserve Bank of New York or, in the case of European Currency \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Units (ECUs), the rate of exchange determined by the Commission of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql European Communities or any successor thereto as published in the Official \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Journal of the European Communities, or any successor publication) as of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql most recent date on which an Exchange Rate was available. The Exchange Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql determined as provided above as certified by the Company to the Trustee shall \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql be conclusive absent manifest error. Any payment made under such circumstances \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in U.S. dollars will not constitute an Event of Default under the Indenture. A \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql good faith determination by the Company that the Specified Currency is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql unavailable shall be binding upon the Trustee and the Holder of this Note. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Except as set forth below or on the face hereof, this Note shall bear \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest at the rate determined by reference to the applicable Base Rate (a) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql plus or minus the Spread, if any, and/or (b) multiplied by the Spread \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Multiplier, if any, in each case as specified on the face hereof. Commencing \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the Initial Interest Reset Date, the rate at which interest on this Note \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be payable shall be reset as of each Interest Reset Date specified on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the face hereof; provided, however, that the interest rate in effect for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql period, if any, from the Original Issue Date to the Initial Interest Reset \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date shall be the Initial Interest Rate. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Unless otherwise specified on the face hereof, the rate with respect to each \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Base Rate will be determined in accordance with the applicable provisions \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql below. Except as set forth above, the interest rate in effect on each day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be (i) if such day is an Interest Reset Date, the interest rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql determined as of the Interest Determination Date (as hereinafter defined) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql immediately preceding such Interest Reset Date or (ii) if such day is not an \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Reset Date, the interest rate determined as of the Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date immediately preceding the most recent Interest Reset Date. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If any Interest Reset Date would otherwise be a day that is not a Business \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Day, such Interest Reset Date shall be postponed to the next succeeding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Business Day, except that if LIBOR is an applicable Base Rate and such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Business Day falls in the next succeeding calendar month, such Interest Reset \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date shall be the immediately preceding Business Day as used herein, "Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reset Period" means the period of time beginning on an Interest Reset Date for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql this Note and ending on the calendar day immediately preceding the next \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql succeeding Interest Reset Date. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql As used herein, "Business Day" means any day, other than a Saturday or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Sunday, that is neither a legal holiday nor a day on which banking \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql institutions are authorized or required by law or executive order to close in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql New York City; provided, however, that, with respect to Notes the payment of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql which is to be made in a Specified Currency other than U.S. dollars, such day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql is also not a day on which banking institutions are authorized or required by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql law or executive order to close in the Principal Financial Center of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql country of such Specified Currency (or, in the case of the ECU, is not a day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql designated as an ECU Non-Settlement Day by the ECU Banking Association or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql otherwise generally regarded in the ECU interbank market as a day on which \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql payments in ECUs shall not be made); provided, further, that, with respect to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Notes as to which LIBOR is an applicable Base Rate, such day is also a London \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Business Day (as defined below). "London Business Day" means any day (i) if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Index Currency (as defined below) is other than ECU, on which dealings in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such Index Currency are transacted in the London interbank market or (ii) if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Index Currency is ECU, that is not designated as an ECU Non-Settlement Day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by the ECU Banking Association or otherwise generally regarded in the ECU \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interbank market as a day on which payments in ECUs shall not be made. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql "Principal Financial Center" means the capital city of the country issuing the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified Index Currency (as defined below) or the Specified Currency, as the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql case may be, except that with respect to U.S. dollars, Deutsche Marks, Dutch \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Guilders, Italian Lire, Swiss Francs and ECUs, the "Principal Financial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Center" shall be New York City, Frankfurt, Amsterdam, Milan, Zurich and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Luxembourg, respectively. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The "Interest Determination Date" pertaining to an Interest Reset Date for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CD Rate Notes, Commercial Paper Rate Notes, Federal Funds Rate Notes, CMT Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Notes and Prime Rate Notes will be the second Business Day next preceding such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Reset Date. The Interest Determination Date pertaining to an Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reset Date for a LIBOR Note will be the second London Business Day preceding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such Interest Reset Date. The Interest Determination Date pertaining to an \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Reset Date for a Treasury Rate Note will be the day of the week in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql which such Interest Reset Date falls on which Treasury bills would normally be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql auctioned. Treasury bills are normally sold at auction on Monday of each week, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql unless that day is a legal holiday, in which case the auction is normally held \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the following Tuesday, but such auction may be held on the preceding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Friday. If, as the result of a legal holiday, an auction is so held on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql preceding Friday, such Friday will be the Interest Determination Date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql pertaining to the Interest Reset Date occurring in the next succeeding week. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If an auction falls on a day that is an Interest Reset Date, such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reset Date will be the next following Business Day. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Unless otherwise specified on the face hereof, the "Calculation Date," where \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable, pertaining to an Interest Determination Date will be the earlier \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of (i) the tenth calendar day after such Interest Determination Date, or, if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such day is not a Business Day, the next succeeding Business Day, or (ii) the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Business Day preceding the applicable Interest Payment Date or Maturity Date, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql as the case may be. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CD Rate. If the Base Rate for this Note is specified on the face hereof as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the CD Rate, this Note will bear interest at the interest rate, calculated \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql with reference to the CD Rate and the Spread and/or Spread Multiplier, if any, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and the Minimum Interest Rate and Maximum Interest Rate, if any, specified on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the face hereof. The CD Rate shall be determined as of the applicable Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date (a CD Rate Interest Determination Date) as the rate on such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql date for negotiable certificates of deposit having the Index Maturity \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql designated on the face hereof as published by the Board of Governors of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Federal Reserve System in "Statistical Release H.15(519), Selected Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Rates," or any successor publication of the Board of Governors of the Federal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reserve System (H.15(519)) under the heading "CDs (Secondary Market)," or, if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql not so published \par\pard\plain\fs16 \page \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by 9:00 A.M., New York City time, on the Calculation Date pertaining to such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Determination Date, the CD Rate will be the rate on such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date for negotiable certificates of deposit of the Index \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Maturity designated on the face hereof as published by the Federal Reserve \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Bank of New York in its daily statistical release "Composite 3:30 P.M. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Quotations for U.S. Government Securities" (the Composite Quotations) under \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the heading "Certificates of Deposit." If such rate is not yet published in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql either H.15(519) or the Composite Quotations by 3:00 P.M., New York City time, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the Calculation Date pertaining to such Interest Determination Date, the CD \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Rate on such Interest Determination Date will be calculated by the Calculation \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Agent and will be the arithmetic mean of the secondary market offered rates as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of 10:00 A.M., New York City time, on such Interest Determination Date for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql certificates of deposit in an amount that is representative for a single \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql transaction at that time with a remaining maturity closest to the Index \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Maturity designated on the face hereof of three leading nonbank dealers in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql negotiable U.S. dollar certificates of deposit in New York City selected by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Calculation Agent for negotiable certificates of deposit of major United \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql States money center banks; provided, however, that if the dealers selected as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql aforesaid by the Calculation Agent are not quoting as set forth above, the CD \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Rate in effect for the applicable period will be the same as the CD Rate for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the immediately preceding Interest Reset Period (or, if there was no such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Reset Period, the rate of interest payable on this Note shall be the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Initial Interest Rate). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CMT Rate. If the Base Rate for this Note is specified on the face hereof as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the CMT Rate, this Note will bear interest at the interest rate, calculated \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql with reference to the CMT Rate and the Spread and/or Spread Multiplier, if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any, and subject to the Minimum Interest Rate, and the Maximum Interest Rate, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql if any, specified on the face hereof. The CMT Rate shall be determined as of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the applicable Interest Determination Date (a CMT Rate Interest Determination \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date) as the rate displayed on the Designated CMT Telerate Page (as defined \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql below) under the caption ". . . Treasury Constant Maturities . . . Federal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reserve Board Release H.15 . . . Mondays Approximately 3:45 P.M.", under the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql column for the Designated CMT Maturity Index (as defined below) for (i) if the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Designated CMT Telerate Page is 7055, such CMT Rate Interest Determination \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date and (ii) if the Designated CMT Telerate Page is 7052, the week, or the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql month, as applicable, ended immediately preceding the week in which the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql related CMT Rate Interest Determination Date occurs. If such rate is no longer \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql displayed on the relevant page, or if not displayed by 3:00 P.M., New York \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql City time, on the related Calculation Date, then the CMT Rate for such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Determination Date will be such Treasury Constant Maturity rate for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Designated CMT Maturity Index as published in the relevant H.15(519). If \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such rate is no longer published, or, if not published by 3:00 P.M., New York \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql City time, on the related Calculation Date, then the CMT Rate for such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Determination Date will be such Treasury Constant Maturity rate for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Designated CMT Maturity Index (or other United States Treasury rate for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Designated CMT Maturity Index) for the Interest Determination Date with \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql respect to such Interest Reset Date as may then be published by either the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Board of Governors of the Federal Reserve System or the United States \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Department of the Treasury that the Calculation Agent determines to be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql comparable to the rate formerly displayed on the Designated CMT Telerate Page \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and published in the relevant H.15(519). If such information is not provided \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by 3:00 P.M., New York City time, on the related Calculation Date, then the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql CMT Rate for the Interest Determination Date will be calculated by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Calculation Agent and will be a yield to maturity, based on the arithmetic \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql mean of the secondary market closing offer side prices as of approximately \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 3:30 P.M., New York City time, on the Interest Determination Date reported, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql according to their written records, by three leading primary United States \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql government securities dealers (each, a Reference Dealer) in New York City \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (which may include Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Incorporated, Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql their affiliates) selected by the Calculation Agent (from five such Reference \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Dealers selected by the Calculation Agent, after consultation with the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company, and eliminating the highest quotation (or, in the event of equality, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql one of the highest) and the lowest quotation (or, in the event of equality, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql one of the lowest)), for the most recently issued direct noncallable fixed \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rate obligations of the United States (Treasury notes) with an original \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql maturity of approximately the Designated CMT Maturity Index and remaining term \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to maturity of not less than such Designated CMT Maturity Index minus one \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql year. If the Calculation Agent cannot obtain three such Treasury notes \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql quotations, the CMT Rate for such Interest Determination Date will be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql calculated by the Calculation Agent and will be a yield to maturity based on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the arithmetic mean of the secondary market closing offer side prices as of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql approximately 3:30 P.M., New York City time, on the Interest Determination \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date of three Reference Dealers in New York City (from five such Reference \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Dealers selected by the Calculation Agent and eliminating the highest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql quotation (or, in the event of equality, one of the highest) and the lowest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql quotation (or, in the event of equality, one of the lowest)), for Treasury \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql notes with an original maturity of the number of years that is the next \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql highest to the Designated CMT Maturity Index and a remaining term to maturity \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql closest to the Designated CMT Maturity Index and in an amount of at least U.S. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql $100,000,000. If three or four (and not five) of such Reference Dealers are \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql quoting as described above, then the CMT Rate will be based on the arithmetic \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql mean of the offer prices obtained and neither the highest nor the lowest of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such quotes will be eliminated; provided however, that if fewer than three \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reference Dealers selected by the Calculation Agent are quoting as described \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql herein, the CMT Rate for such Interest Reset Date will be the same as the CMT \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Rate for the immediately preceding Interest Reset Period (or, if there was no \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such Interest Reset Period, the rate of interest payable on this Note shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Initial Interest Rate). If two Treasury notes with an original maturity as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql described in the second preceding sentence have remaining terms to maturity \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql equally close to the Designated CMT Maturity Index, the quotes for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Treasury note with the shorter remaining term to maturity will be used. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql "Designated CMT Telerate Page" means the display on the Dow Jones Telerate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Service on the page designated on the face hereof (or any other page as may \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql replace such page on that service for the purpose of displaying Treasury \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Constant Maturities as reported in H.15(519)), for the purpose of displaying \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Treasury Constant Maturities as reported in H.15(519). If no such page is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof, the Designated CMT Telerate Page shall be 7052, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql for the most recent week. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql "Designated CMT Maturity Index" shall be the original period to maturity of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the U.S. Treasury securities (either 1, 2, 3, 5, 7, 10, 20 or 30 years) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified as such on the face hereof with respect to which the CMT Rate will \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql be calculated. If no such maturity is specified on the face hereof the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Designated CMT Maturity Index shall be two years. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Commercial Paper Rate. If the Base Rate for this Note is specified on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql face hereof as the Commercial Paper Rate, this Note will bear interest at the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest rate, calculated with reference to the Commercial Paper Rate and the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Spread and/or Spread Multiplier, if any, and subject to the Minimum Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Rate and the Maximum Interest Rate, if any, specified on the face hereof. The \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Commercial Paper Rate shall be determined as of the applicable Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date (a Commercial Paper Rate Interest Determination Date) as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Money Market Yield (as defined below) of the rate on such date for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql commercial paper having the Index Maturity specified on the face hereof, as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such rate shall be published in H.15(519), under the heading "Commercial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Paper." In the event that such rate is not published by 9:00 A.M., New York \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql City time, on the Calculation Date pertaining to such Interest Determination \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date, then the Commercial Paper Rate shall be the Money Market Yield of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rate on such Interest Determination Date for commercial paper of the specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Index Maturity as published in Composite Quotations under the heading \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql "Commercial Paper." If by 3:00 P.M., New York City time, on such Calculation \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date such rate is not yet available in either H.15(519) or Composite \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Quotations, then the Commercial Paper Rate shall be the Money Market Yield of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the arithmetic mean of the offered rates as of 11:00 A.M., New York City time, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on such Interest Determination Date of three leading dealers of commercial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql paper in New York City selected by the Calculation Agent for commercial paper \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of the specified Index Maturity, placed for an industrial issuer whose bond \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rating is "AA," or the equivalent, from a nationally recognized statistical \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rating organization; provided, however, that if the dealers selected as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql aforesaid by the Calculation Agent are not quoting offered rates as mentioned \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in this sentence, the Commercial Paper Rate in effect for the applicable \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql period will be the same as the Commercial Paper Rate for the immediately \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql preceding Interest Reset Period (or, if there was no such Interest Reset \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Period, the rate of interest payable on this Note shall be the Initial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Rate). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql "Money Market Yield" means a yield (expressed as a percentage) calculated in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql accordance with the following formula: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql D x 360 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Money Market Yield = ----------- x 100 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 360-(D x M) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql where "D" refers to the applicable per annum rate for commercial paper quoted \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on a bank discount basis and expressed as a decimal, and "M" refers to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql actual number of days in the Interest Period for which interest is being \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql calculated. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Federal Funds Rate. If the Base Rate for this Note is specified on the face \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof as the Federal Funds Rate, this Note will bear interest at the interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rate, calculated with reference to the Federal Funds Rate and the Spread \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and/or Spread Multiplier, if any, and subject to the Minimum Interest Rate and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Maximum Interest Rate, if any, specified on the face hereof. The Federal Funds \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Rate shall be determined as of the applicable Interest Determination Date (a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Federal Funds Rate Interest Determination Date) as the rate on such date for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Federal funds as published in H.15(519) under the heading "Federal Funds \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (Effective)," or, if not so published by 9:00 A.M., New York City time, on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Calculation Date pertaining to such Interest Determination Date, the Federal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Funds Rate will be the rate on such Interest Determination Date as published \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql in the Composite Quotations under the heading "Federal Funds/Effective Rate." \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If such rate is not yet published in either H.15(519) or the Composite \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Quotations by 3:00 P.M., New York City time, on the Calculation Date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql pertaining to such Interest Determination Date, the Federal Funds Rate for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such Interest Determination Date will be calculated by the Calculation Agent \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and will be the arithmetic mean of the rates for the last transaction in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql overnight Federal funds, as of 9:00 A.M., New York City time, on such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date, arranged by three leading brokers of Federal funds \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql transactions in New York City selected by the Calculation Agent; provided, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql however, that if the brokers selected as aforesaid by the Calculation Agent \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql are not quoting as set forth above, the Federal Funds Rate in effect for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable period will be the same as the Federal Funds Rate for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql immediately preceding Interest Reset Period (or, if there was no such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reset Period, the rate of interest payable on this Note shall be the Initial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Rate). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql LIBOR. If the Base Rate for this Note is specified on the face hereof as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql LIBOR, this Note will bear interest at the interest rate, calculated with \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql reference to LIBOR and the Spread and/or Spread Multiplier, if any, and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql subject to the Minimum Interest Rate and the Maximum Interest Rate, if any, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof. LIBOR shall be determined by the Calculation \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Agent as of the applicable Interest Determination Date (a LIBOR Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date) in accordance with the following provisions: \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (i) As of the Interest Determination Date, LIBOR will be either: (a) if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql "LIBOR Reuters" is specified on the face hereof, the arithmetic mean of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql offered rates (unless the specified Designated LIBOR Page (as defined below) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by its terms provides only for a single rate, in which case such single rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be used) for deposits in the Index Currency having the Index Maturity \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql designated on the face hereof, commencing on the second London Business Day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql immediately following such Interest Determination Date, that appear on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Designated LIBOR Page as of 11:00 A.M., London time, on that Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date, if at least two such offered rates appear (unless, as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql aforesaid, only a single rate is required) on such Designated LIBOR Page, or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (b) if "LIBOR Telerate" is specified in the applicable Pricing Supplement, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the \par\pard\plain\fs16 \page \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rate for deposits in the Index Currency having the Index Maturity designated \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the face hereof, commencing on the second London Business Day immediately \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql following such Interest Determination Date, that appears on the Designated \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql LIBOR Page as of 11:00 A.M., London time, on that Interest Determination \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date. If fewer than two offered rates appear (if "LIBOR Reuters" is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof) (or, no rate appears, if, as aforesaid, only a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql single rate is required) or no rate appears (if "LIBOR Telerate" is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof), LIBOR in respect of the related Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date will be determined as if the parties had specified the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rate described in clause (ii) below. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (ii) With respect to an Interest Determination Date on which fewer than \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql two offered rates appear (if "LIBOR Reuters" is specified on the face \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof) (or on which no rate appears, if, as aforesaid, only a single rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql is required) or no rate appears (if "LIBOR Telerate" is specified on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql face hereof), the Calculation Agent will request the principal London \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql offices of each of four major reference banks in the London interbank \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql market, as selected by the Calculation Agent, to provide the Calculation \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Agent with its offered quotation for deposits in the Index Currency for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql period of the Index Maturity designated on the face hereof, commencing on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the second London Business Day immediately following such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date, to prime banks in the London interbank market at \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql approximately 11:00 A.M., London time, on such Interest Determination Date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and in a principal amount of not less than $1,000,000 (or the equivalent in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Index Currency, if the Index Currency is not the U.S. dollar) that is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql representative for a single transaction in such Index Currency in such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql market at such time. If at least two such quotations are provided, LIBOR \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql determined on such Interest Determination Date will be the arithmetic mean \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of such quotations. If fewer than two quotations are provided, LIBOR \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql determined on such Interest Determination Date will be the arithmetic mean \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of the rates quoted at approximately 11:00 A.M. (or such other time \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof), in the applicable Principal Financial Center \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql for the country of the Index Currency on such Interest Determination Date, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by three major banks in such Principal Financial Center selected by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Calculation Agent for loans in the Index Currency to leading European banks, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql having the Index Maturity designated on the face hereof and in a principal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql amount of not less than $1,000,000 commencing on the second London Business \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Day immediately following such Interest Determination Date (or the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql equivalent in the Index Currency, if the Index Currency is not the U.S. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql dollar) that is representative for a single transaction in such Index \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency in such market at such time; provided, however, that if the banks \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql so selected by the Calculation Agent are not quoting as mentioned in this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql sentence, LIBOR in effect for the applicable period will be the same as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql LIBOR for the immediately preceding Interest Reset Period (or, if there was \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql no such Interest Reset Period, the rate of interest payable on this Note \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be the Initial Interest Rate). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql "Index Currency" means the currency (including composite currencies) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof as the currency for which LIBOR shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql calculated. If no such currency is specified on the face hereof, the Index \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency shall be U.S. dollars. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql "Designated LIBOR Page" means either (a) if "LIBOR Reuters" is designated \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on the face hereof, the display on the Reuters Monitor Money Rates Service \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql for the purpose of displaying the London interbank rates of major banks for \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the applicable Index Currency, or (b) if "LIBOR Telerate" is designated on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the face hereof, the display on the Dow Jones Telerate Service for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql purpose of displaying the London interbank rates of major banks for the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable Index Currency. If neither LIBOR Reuters nor LIBOR Telerate is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof, LIBOR for the applicable Index Currency will \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql be determined as if LIBOR Telerate (and, if the U.S. dollar is the Index \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency, Page 3750) had been specified. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Prime Rate. If the Base Rate for this Note is specified on the face hereof \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql as the Prime Rate, this Note will bear interest at the interest rate, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql calculated with reference to the Prime Rate and the Spread and/or Spread \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Multiplier, if any, and subject to the Minimum Interest Rate and the Maximum \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Rate, if any, specified on the face hereof. The Prime Rate shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql determined as of the applicable Interest Determination Date (a Prime Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Determination Date) as the rate set forth in H.15(519) for such date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql opposite the caption "Bank Prime Loan." If such rate is not yet published by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 9:00 A.M., New York City time, on the Calculation Date pertaining to such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Determination Date, the Prime Rate for such Interest Determination \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date will be the arithmetic mean of the rates of interest publicly announced \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by each bank named on the Reuters Screen NYMF Page (as defined below) as such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql bank's prime rate or base lending rate as in effect for such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date as quoted on the Reuters Screen NYMF Page on such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date, or, if fewer than four such rates appear on the Reuters \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Screen NYMF Page for such Interest Determination Rate, the rate shall be the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql arithmetic mean of the prime rates quoted on the basis of the actual number of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql days in the year divided by 360 as of the close of business on such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date by at least two of the three major money center banks in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql New York City selected by the Calculation Agent from which quotations are \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql requested. If fewer than two quotations are provided, the Prime Rate shall be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql calculated by the Calculation Agent and shall be determined as the arithmetic \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql mean on the basis of the prime rates in New York City by the appropriate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql number of substitute banks or trust companies organized and doing business \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql under the laws of the United States, or any State thereof, in each case having \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql total equity capital of at least U.S. $500 million and being subject to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql supervision or examination by federal or state authority, selected by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Calculation Agent to quote such rate or rates; provided, however, that if the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql banks or trust companies selected as aforesaid by the Calculation Agent are \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql not quoting as set forth above, the "Prime Rate" in effect for the applicable \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql period will be the same as the Prime Rate for the immediately preceding \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Interest Reset Period (or, if there was no such Interest Reset Period, the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rate of interest payable on this Note shall be the Initial Rate). "Reuters \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Screen NYMF Page" means the display designated as Page "NYMF" on the Reuters \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Monitor Money Rates Services (or such other page as may replace the NYMF Page \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on that service for the purpose of displaying prime rates or base lending \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rates of major United States banks). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Treasury Rate. If the Base Rate for this Note is specified on the face \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof as the Treasury Rate, this Note will bear interest at the interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql rate, calculated with reference to the Treasury Rate and the Spread and/or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Spread Multiplier, if any, and subject to the Minimum Interest Rate and the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Maximum Interest Rate, if any, specified on the face hereof. The Treasury Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be determined as of the applicable Interest Determination Date (a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Treasury Rate Interest Determination Date) as the rate for the auction held on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such date of direct obligations of the United States (Treasury Bills) having \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Index Maturity designated on the face hereof, as published in H.15(519) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql under the heading "Treasury Bills auction average (investment)" or, if not so \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql published by 9:00 A.M., New York City time, on the Calculation Date pertaining \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to such Interest Determination Date, the auction average rate on such Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Determination Date (expressed as a bond equivalent, on the basis of a year of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql 365 or 366 days, as applicable, and applied on a daily basis) as otherwise \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql announced by the United States Department of the Treasury. In the event that \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the results of the auction of Treasury Bills having the Index Maturity \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql designated on the face hereof are not published or reported as provided above \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by 3:00 P.M., New York City time, on such Calculation Date or if no such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql auction is held on such Interest Determination Date, then the Treasury Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be calculated by the Calculation Agent and shall be a yield to maturity \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (expressed as a bond equivalent, on the basis of a year of 365 or 366 days, as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable, and applied on a daily basis) calculated using the arithmetic mean \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of the secondary market bid rates, as of approximately 3:30 P.M., New York \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql City time, on such Interest Determination Date, of three leading primary \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql United States government securities dealers selected by the Calculation Agent \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql for the issue of Treasury Bills with a remaining maturity closest to the Index \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Maturity designated on the face hereof; provided, however, that if the dealers \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql selected as aforesaid by the Calculation Agent are not quoting bid rates as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql mentioned in this sentence, the Treasury Rate for such Interest Reset Date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will be the same as the Treasury Rate for the immediately preceding Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reset Period (or, if there was no such Interest Reset Period, the rate of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest payable on this Note shall be the Initial Interest Rate). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Notwithstanding the foregoing, the interest rate hereon shall not be greater \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql than the Maximum Interest Rate, if any, or less than the Minimum Interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Rate, if any, specified on the face hereof. The interest rate on this Note \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will in no event be higher than the maximum rate permitted by New York law, as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the same may be modified by United States law of general application. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The Calculation Agent shall calculate the interest rate hereon in accordance \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql with the foregoing on or before each Calculation Date. At the request of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Holder hereof, the Calculation Agent will provide to the Holder hereof the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest rate hereon then in effect and, if determined, the interest rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql which will become effective as a result of a determination made for the next \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql succeeding Interest Reset Data. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql With respect to this Note, accrued interest shall be calculated by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql multiplying the principal amount of this Note by an accrued interest factor. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Such accrued interest factor will be computed by adding the interest factors \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql calculated for each day in the period for which interest is being paid. Unless \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql otherwise specified on the face hereof, the interest factor for each such day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql is computed by dividing the interest rate applicable to such day by 360, in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the case of CD Rate Notes, Commercial Paper Rate Notes, Federal Funds Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Notes, LIBOR Notes and Prime Rate Notes, or by the actual number of days in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the year, in the case of Treasury Rate Notes and CMT Rate Notes. All \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql percentages used in or resulting from any calculation of the rate of interest \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql on this Note will be rounded, if necessary, to the nearest one hundred- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql thousandth of a percentage point, with five one-millionths of a percentage \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql point rounded upward, and all dollar amounts used in or resulting from such \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql calculation on this Note will be rounded to the nearest cent, with one-half \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql cent rounded upward. The interest rate in effect on any Interest Reset Date \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql will be the applicable rate as reset on such date. The interest rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql applicable to any other day is the interest rate from the immediately \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql preceding Interest Reset Date (or, if none, the Initial Interest Rate). \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If so provided on the face of this Note, this Note may be redeemed by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company on and after the Initial Redemption Date, if any, indicated on the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql face hereof. If no Initial Redemption Date is set forth hereof, this Note may \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql not be redeemed prior to the Maturity Date. On and after the Initial \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Redemption Date, if any, this Note may be redeemed at any time in whole or in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql part (provided that any remaining principal amount of this Note shall be equal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to an authorized denomination) at the option of the Company, at the applicable \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Redemption Price (as defined below), together with interest thereon payable to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the "Redemption Date", on notice given not more than 60 nor less than 30 days \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql prior to the Redemption Date. In the event of redemption of this Note in part \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql only, a new Note for the unredeemed portion hereof shall be issued in the name \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of the Holder hereof upon the surrender hereof. The Notes will not have a \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql sinking fund. The "Redemption Price" shall initially be the Initial Redemption \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Percentage, shown on the face hereof, of the principal amount of this Note to \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql be redeemed and shall decline at each anniversary of the Initial Redemption \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date, shown on the face hereof, by the Annual Redemption Percentage Reduction, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql if any, shown on the face hereof, of the principal amount to be redeemed until \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Redemption Price is 100% of such principal amount. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Notwithstanding the foregoing, the Company may not, prior to the Limitation \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Date specified on the face hereof, if any, redeem this Note as contemplated by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the next preceding paragraph as a part of, or in anticipation of, any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql refunding operation by the application, directly or indirectly, of monies \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql borrowed having an interest cost to the Company (calculated in accordance with \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql generally accepted financial practice) of less than the Refunding Rate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql specified on the face hereof, if any. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql If an Event of Default with respect to the Notes shall occur and be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql continuing, the principal of the Notes may be declared due and payable in the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql manner and with the effect provided in the Indenture. \par\pard\plain\fs16 \page \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The Indenture permits, with certain exceptions as therein provided, the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql amendment thereof and the modification of the rights and obligations of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company and the rights of the Holders of the Securities of each series to be \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql affected under the Indenture at any time by the Company and the Trustee with \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the consent of the Holders of a majority in principal amount of the Securities \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql at the time Outstanding of each series to be affected. The Indenture also \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql contains provisions permitting the Holders of specified percentages in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql principal amount of the Securities of each series at the time Outstanding, on \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql behalf of the Holders of all Securities of such series, to waive compliance by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Company with certain provisions of the Indenture and certain past defaults \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql under the Indenture and their consequences. Any such consent or waiver by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Holder of this Note shall be conclusive and binding upon such Holder and upon \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql all future Holders of this Note and of any Note issued upon the registration \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of transfer hereof or in exchange herefor or in lieu hereof, whether or not \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql notation of such consent or waiver is made upon this Note. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql No reference herein to the Indenture and no provision of this Note or of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Indenture shall alter or impair the obligation of the Company, which is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql absolute and unconditional, to pay the principal of (and premium, if any) and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest on this Note at the times, place and rate, in the coin or currency, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql and to the manner, herein prescribed. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql As provided in the Indenture and subject to certain limitations therein set \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql forth, the transfer of this Note is registerable in the Security Register, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql upon surrender of this Note, for registration of transfer at the office or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql agency of the Company in any place where the principal of (and premium, if \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any) and interest on this Note are payable, duly endorsed by, or accompanied \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql by a written instrument of transfer in form satisfactory to the Company and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Security Registrar duly executed by, the Holder hereof or his attorney \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql duly authorized in writing, and thereupon one or more new Notes having the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql same Stated Maturity and Original Issue Date, of authorized denominations and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of like tenor and for the same aggregate principal amount in the same \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Specified Currency, will be issued to the designated transferee or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql transferees. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The Notes are issuable in registered form only, without coupons, and unless \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql otherwise specified on the face hereof, in denominations of U.S. $1,000 and in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql integral multiples of U.S. $1,000 in excess thereof or the approximate \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql equivalent of U.S. $1,000 in the Specified Currency in which this Note is \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql denominated (if not U.S. dollars) at the Exchange Rate on the Business Day \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql immediately preceding the trade date, rounded down to the nearest integral \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql multiple of 1,000 units of said Specified Currency and in any amount in excess \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql thereof that is an integral multiple of 1,000 units of such Specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency. As provided in the Indenture and subject to certain limitations \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql therein set forth, Notes are exchangeable for a like aggregate principal \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql amount of Notes having the same Specified Currency, Stated Maturity and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Original Issue Date of any authorized denominations as requested by the Holder \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql surrendering the same, upon surrender of the Note or Notes to be exchanged at \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the office or agency of the Company. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql No service charge shall be made for any such registration of transfer or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql exchange, but the Company may require payment of a sum sufficient to cover any \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql tax or other governmental charge payable in connection therewith. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Prior to due presentment of this Note for registration of transfer, the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company, the Trustee and any agent of the Company, or the Trustee may treat \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the Person in whose name this Note is registered as the absolute owner hereof \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql for all purposes, whether or not this Note be overdue, and neither the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Company, the Trustee nor any such agent shall be affected by notice to the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql contrary. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql No recourse for the payment of the principal of (and premium, if any) or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql interest on this Note, or for any claim based hereon or otherwise in respect \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql hereof, and no recourse under or upon any obligation, convenant or agreement \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql of the Company in the Indenture or any indenture supplemental thereto or in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any Note, or because of the creation of any indebtedness represented thereby, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql shall be had against any incorporator, stockholder, official or director, as \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql such, past, present or future, of the Company or of any successor entity, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql either directly or through the Company or any successor company, whether by \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql virtue of any constitution, statute or rule of law or by the enforcement of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any assessment or penalty or otherwise, all such liability being, by the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql acceptance hereof and as part of the consideration for the issue hereof, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql expressly waived and released. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Reference in this Note to "U.S.$" or "U.S. dollars", is to the currency of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the United States of America. Reference in this Note to the "Specified \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Currency" is to the Specified Currency shown on the face hereof. All terms \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql used in this Note and not otherwise defined herein which are defined in the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Indenture shall have the meanings assigned to them in the Indenture. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql This Note shall be governed by and construed in accordance with the laws of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the State of New York. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ABBREVIATIONS \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql The following abbreviations, when used in the inscription on the face of this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql instrument, shall be construed as though they were written out in full \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql according to applicable laws or regulations: \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TEN COM--as tenants in common \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql TEN ENT--as tenants by the entireties \par\pard\plain\fs16 \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql JT TEN --as joint tenants with rights of survivorship and not as tenants in \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql common \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql UNIF GIFT MIN ACT-- Custodian \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------- ------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (Cust) (Minor) \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Under Uniform Gifts to Minors \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Act \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (State) \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Additional abbreviations may also be used though not in the above list. \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql FOR VALUE RECEIVED, the undersigned hereby sell(s), and transfer(s) unto \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql Please insert social security or other \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql identifying number of assignee \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql - -------------------------------------------------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql the within Note and all rights thereunder, hereby irrevocably constituting and \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql appointing Attorney \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql to transfer said Note on the books of the Company, with full power of \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql substitution in the premises. \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql (Dated: \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql ------------------------------ --------------------------------------- \par\pard\plain\fs16 \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql --------------------------------------- \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql NOTICE: The signature to this \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql assignment must correspond with the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql name as written upon the face of the \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql within instrument in every particular, \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql without alteration or enlargement, or \par\pard\plain\fs16\pard\plain\cf1\f50\fs16\ql any change whatever. \par\pard\plain\fs16}