FIRST VIRGINIA BANKS INC
SPECIAL PAY AGREEMENT
<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>5
<FILENAME>w84148exv10.htm
<DESCRIPTION>SPECIAL PAY AGREEMENT
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<P align="right"><FONT size="2"><B>Exhibit&nbsp;10</B>
</FONT>

<P align="center"><FONT size="2"><B>SPECIAL PAY AGREEMENT</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS SPECIAL PAY AGREEMENT (the or this &#147;Agreement&#148;) is executed as of
January&nbsp;20, 2003, by and between FIRST VIRGINIA BANKS, INC. (&#147;First Virginia&#148;),
a Virginia corporation having its principal office at Falls Church, Virginia,
and Barry J. Fitzpatrick, an individual resident of Virginia (the &#147;Employee&#148;).
</FONT>
<P align="center"><FONT size="2"><B>R E C I T A L S :</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Employee has heretofore been employed as a key executive of First
Virginia pursuant to the terms of an Employment Agreement between First
Virginia and Employee dated as of the 31st day of December 1996 (the &#147;Existing
Employment Agreement&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Existing Employment Agreement provides certain severance and other
supplemental benefits to Employee. First Virginia has agreed to be merged into
BB&#038;T Corporation (&#147;BB&#038;T&#148;), a corporation organized under the laws of the State
of North Carolina (the &#147;Merger&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In exchange for a monetary payment and incident to the Merger, Employee
has agreed to relinquish all rights and benefits he may have under the Existing
Employment Agreement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual covenants contained herein,
the parties agree as follows:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In settlement of all rights and benefits of Employee under the Existing
Employment Agreement, First Virginia shall pay to Employee the sum of
$3,601,200 on the date of consummation of the Merger (the &#147;Effective Date&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement constitutes the entire Agreement between Employee and
First Virginia with respect to the subject matter hereof. As of the Effective
Date, the Existing Employment Agreement shall be null and void and of no
further force or effect.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed in one or more counterparts, all of
which, taken together, shall constitute one and the same instrument.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may not be assigned by Employee without the written
consent of First Virginia and BB&#038;T. This Agreement shall be binding on any
successors or assigns of the parties hereto.
</FONT>
<P align="center"><FONT size="2">&nbsp;</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The payment under this Agreement shall be subject to the excise tax
reimbursement provision set forth in Section&nbsp;12(k) of the Employment Agreement
between Employee and Branch Banking and Trust Company of Virginia, dated as of
the date hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The recitals to this Agreement shall form a part of this Agreement.
</FONT>
<P align="center"><FONT size="2">&#091;Signature page follows&#093;
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.
</FONT>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">FIRST VIRGINIA BANKS, INC.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">By: _____________________________<BR>
Name: ___________________________<BR>
Title: ____________________________</FONT><br>&nbsp;</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2"><B>EMPLOYEE:</B></FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">________________________________<BR>
Barry J. Fitzpatrick</FONT></TD>
</TR>
</TABLE>

<br>&nbsp;
<P align="center"><FONT size="2"><B>SPECIAL PAY AGREEMENT</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS SPECIAL PAY AGREEMENT (the or this &#147;Agreement&#148;) is executed as of
January&nbsp;20, 2003, by and between FIRST VIRGINIA BANKS, INC. (&#147;First Virginia&#148;),
a Virginia corporation having its principal office at Falls Church, Virginia,
and Shirley C. Beavers, Jr., an individual resident of Virginia (the
&#147;Employee&#148;).
</FONT>
<P align="center"><FONT size="2"><B>R E C I T A L S :</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Employee has heretofore been employed as a key executive of First
Virginia pursuant to the terms of an Employment Agreement between First
Virginia and Employee dated as of the 31st day of December 1996 (the &#147;Existing
Employment Agreement&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Existing Employment Agreement provides certain severance and other
</FONT>
<P align="center"><FONT size="2">2</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;supplemental benefits to Employee. First Virginia has agreed to be merged into
BB&#038;T Corporation (&#147;BB&#038;T&#148;), a corporation organized under the laws of the State
of North Carolina (the &#147;Merger&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In exchange for a monetary payment and incident to the Merger, Employee
has agreed to relinquish all rights and benefits he may have under the Existing
Employment Agreement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual covenants contained herein,
the parties agree as follows:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In settlement of all rights and benefits of Employee under the Existing
Employment Agreement, First Virginia shall pay to Employee the sum of
$1,433,535 on the date of consummation of the Merger (the &#147;Effective Date&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement constitutes the entire Agreement between Employee and
First Virginia with respect to the subject matter hereof. As of the Effective
Date, the Existing Employment Agreement shall be null and void and of no
further force or effect.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed in one or more counterparts, all of
which, taken together, shall constitute one and the same instrument.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may not be assigned by Employee without the written
consent of First Virginia and BB&#038;T. This Agreement shall be binding on any
successors or assigns of the parties hereto.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The payment under this Agreement shall be subject to the excise tax
reimbursement provision set forth in Section&nbsp;12(k) of the Employment Agreement
between Employee and Branch Banking and Trust Company of Virginia, dated as of
the date hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The recitals to this Agreement shall form a part of this Agreement.
</FONT>
<P align="center"><FONT size="2">&#091;Signature page follows&#093;
</FONT>
<P align="center"><FONT size="2">3</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.
</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">FIRST VIRGINIA BANKS, INC.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">By: _____________________________<BR>
Name: ___________________________<BR>
Title: ____________________________</FONT><br>&nbsp;</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2"><B>EMPLOYEE:</B></FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">________________________________<BR>
Shirley C. Beavers, Jr.</FONT></TD>
</TR>
</TABLE>
<br>&nbsp;
<P align="center"><FONT size="2"><B>SPECIAL PAY AGREEMENT</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS SPECIAL PAY AGREEMENT (the or this &#147;Agreement&#148;) is executed as of
January&nbsp;20, 2003, by and between FIRST VIRGINIA BANKS, INC. (&#147;First Virginia&#148;),
a Virginia corporation having its principal office at Falls Church, Virginia,
and Richard F. Bowman, an individual resident of Virginia (the &#147;Employee&#148;).
</FONT>
<P align="center"><FONT size="2"><B>R E C I T A L S :</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Employee has heretofore been employed as a key executive of First
Virginia pursuant to the terms of an Employment Agreement between First
Virginia and Employee dated as of the 31st day of December 1996 (the &#147;Existing
Employment Agreement&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Existing Employment Agreement provides certain severance and other
supplemental benefits to Employee. First Virginia has agreed to be merged into
BB&#038;T Corporation (&#147;BB&#038;T&#148;), a corporation organized under the laws of the State
of North Carolina (the &#147;Merger&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In exchange for a monetary payment and incident to the Merger, Employee
has agreed to relinquish all rights and benefits he may have under the Existing
Employment Agreement.
</FONT>
<P align="center"><FONT size="2">4</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual covenants contained herein,
the parties agree as follows:
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In settlement of all rights and benefits of Employee under the Existing
Employment Agreement, First Virginia shall pay to Employee the sum of
$1,144,500 on the date of consummation of the Merger (the &#147;Effective Date&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement constitutes the entire Agreement between Employee and
First Virginia with respect to the subject matter hereof. As of the Effective
Date, the Existing Employment Agreement shall be null and void and of no
further force or effect.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed in one or more counterparts, all of
which, taken together, shall constitute one and the same instrument.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may not be assigned by Employee without the written
consent of First Virginia and BB&#038;T. This Agreement shall be binding on any
successors or assigns of the parties hereto.
</FONT>
<P align="center"><FONT size="2">5</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The payment under This Agreement shall be subject to the excise tax
reimbursement provision set forth in Section&nbsp;12(k) of the Employment Agreement
between Employee and Branch Banking and Trust Company of Virginia, dated as of
the date hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The recitals to this Agreement shall form a part of this Agreement.
</FONT>
<P align="center"><FONT size="2">&#091;Signature page follows&#093;
</FONT>
<P align="center"><FONT size="2">6</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.
</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">FIRST VIRGINIA BANKS, INC.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">By: _____________________________<BR>
Name: ___________________________<BR>
Title: ____________________________</FONT><br>&nbsp;</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2"><B>EMPLOYEE:</B></FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">________________________________<BR>
Richard F. Bowman</FONT></TD>
</TR>
</TABLE>
<br>&nbsp;
<P align="center"><FONT size="2"><B>SPECIAL PAY AGREEMENT</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS SPECIAL PAY AGREEMENT (the or this &#147;Agreement&#148;) is executed as of
January&nbsp;20, 2003, by and between FIRST VIRGINIA BANKS, INC. (&#147;First Virginia&#148;),
a Virginia corporation having its principal office at Falls Church, Virginia,
and Raymond E. Brann, Jr., an individual resident of Virginia (the &#147;Employee&#148;).
</FONT>
<P align="center"><FONT size="2"><B>R E C I T A L S :</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Employee has heretofore been employed as a key executive of First
Virginia pursuant to the terms of an Employment Agreement between First
Virginia and Employee dated as of the 31st day of December 1996 (the &#147;Existing
Employment Agreement&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Existing Employment Agreement provides certain severance and other
supplemental benefits to Employee. First Virginia has agreed to be merged into
BB&#038;T Corporation (&#147;BB&#038;T&#148;), a corporation organized under the laws of the State
of North Carolina (the &#147;Merger&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In exchange for a monetary payment and incident to the Merger, Employee
has agreed to relinquish all rights and benefits he may have under the Existing
Employment Agreement.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the mutual covenants contained herein,
the parties agree as follows:
<P align="center"><FONT size="2">7</FONT>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In settlement of all rights and benefits of Employee under the Existing
Employment Agreement, First Virginia shall pay to Employee the sum of
$1,128,305 on the date of consummation of the Merger (the &#147;Effective Date&#148;).
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement constitutes the entire Agreement between Employee and
First Virginia with respect to the subject matter hereof. As of the Effective
Date, the Existing Employment Agreement shall be null and void and of no
further force or effect.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may be executed in one or more counterparts, all of
which, taken together, shall constitute one and the same instrument.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Agreement may not be assigned by Employee without the written
consent of First Virginia and BB&#038;T. This Agreement shall be binding on any
successors or assigns of the parties hereto.
</FONT>
<P align="center"><FONT size="2">8</FONT>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The payment under this Agreement shall be subject to the excise tax
reimbursement provision set forth in Section&nbsp;12(k) of the Employment Agreement
between Employee and Branch Banking and Trust Company of Virginia, dated as of
the date hereof.
</FONT>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The recitals to this Agreement shall form a part of this Agreement.
</FONT>
<P align="center"><FONT size="2">&#091;Signature page follows&#093;
</FONT>
<P align="center"><FONT size="2">9</FONT>
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first above written.
</FONT>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">FIRST VIRGINIA BANKS, INC.</FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">By: _____________________________<BR>
Name: ___________________________<BR>
Title: ____________________________</FONT><br>&nbsp;</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2"><B>EMPLOYEE:</B></FONT></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="50%"><FONT size="2">________________________________<BR>
Raymond E. Brann, Jr.</FONT></TD>
</TR>
</TABLE>


<P align="center"><FONT size="2">10</FONT>




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