A proximal end of a lead body carries a connector assembly. A first electrical conductor within the lead body electrically connects a tip electrode to a first electrical contact on the connector assembly. A collar electrode is carried by a distal end portion of the lead body. A second electrical conductor within the lead body electrically connects the collar electrode to a second electrical contact on the connector assembly. A ring electrode, carried by the distal end portion of the lead body, is disposed proximally of the collar electrode in spaced-apart relationship thereto and is connected through a switching device to a node point along the first conductor. The switching device has a first state permitting an electrical current to be conducted between the ring electrode and the node point and a second state in which the ring electrode is electrically isolated from the node point. Preferably, the switching device comprises a diode.