Amendment to Dominion Resources, Inc. Incentive Compensation Plan (June 20, 2007)

Summary

Dominion Resources, Inc. has amended its Incentive Compensation Plan, specifically updating the definition of 'Fair Market Value' for company stock. The new definition states that Fair Market Value is the closing price of a share as reported in the Wall Street Journal or another financial reporting service chosen by the company, based on the last trading day before the relevant date. Company officers are authorized to take all necessary actions to implement this change.

EX-10.5 2 dex105.htm EXHIBIT 10.5 Exhibit 10.5

Exhibit 10.5

AMENDMENT

TO THE DOMINION RESOURCES, INC.

INCENTIVE COMPENSATION PLAN

EFFECTIVE JUNE 20, 2007

RESOLVED, that the definition of Fair Market Value in the Incentive Compensation Plan is hereby amended by replacing Section 2(m) in its entirety with the following:

(m) “Fair Market Value” means the closing price of a share of Company Stock, as reported in the Wall Street Journal or other financial reporting service selected by the Company, as of the last day on which Company Stock is traded preceding the Date of Grant or preceding any other date for which the value of Company Stock must be determined under the Plan.

RESOLVED, that the officers of the Company are authorized and directed to take any and all actions necessary to implement the foregoing resolution.