The invention relates to valves for air compressors, and more particularly, to an unloading/venting valve having integrated therewith a high-pressure protection valve where a pressure reducing valve has a discharge port in communication with the air system and a vent. The valve utilizes a valve body biased to form a seal between the discharge port and the vent. A governor monitors the air pressure in the system and generates a signal to move the valve body against the bias and unloads the system when a first predetermined threshold pressure is reached. In the event of a failure of the valve body to move at the first threshold pressure, the valve body is movable against the bias in response to a second predetermined threshold pressure reached in the system, thereby unloading the system.