Exhibit 10A



Exhibit 10.A




BB&T CORPORATION


    Summary of Terms of Annual Non-Employee Director Option Grant Program

                    (As Updated Through February 21, 2006)




          Effective
February 22, 2005, the Board of Directors (the "Board" or the  "Board of
Directors")  of BB&T Corporation  (the  "Corporation")  approved a
director  stock option grant  program (the  "Director  Option  Program").  The
Director  Option  Program  provides that each member of the Board of Directors  of the
Corporation  who is not an employee of the Corporation or an affiliate  on the date of
grant shall be eligible  to  receive,  and shall  automatically  receive,  an annual
grant of a  nonqualified  stock option  (each,  an "annual  option" or an
"option")  for such number of whole shares of BB&T common stock  (the
"Common  Stock") as is determined by multiplying  the value of the option
(based on a  Black-Scholes  calculation)  times the current  fair market value  (as
determined in accordance  with the BB&T Corporation  2004 Stock Incentive  Plan,  as it
may be amended  (the "2004  Plan")),  of the Common  Stock on the  date of
grant  and  dividing  $35,000  (increased  by the Board  from  $30,000  effective October
25, 2005) by such product.



      
    The
material terms and conditions of the Director  Option Program are as  follows:



	·	 	The
options shall be granted  under,  and in accordance  with the terms  of, the 2004 Plan
and the form  director  option  agreement  adopted by  the Board under the 2004 Plan (the
"Director Option Agreement").







	·	 	The
option price for each annual  option shall be the fair market value  of the Common Stock,
based on the closing price of the Common Stock as  quoted on the New York Stock
Exchange,  Inc. on the last  trading date  immediately  preceding  the date of grant or
otherwise  determined  in  accordance with the fair market value provisions of the 2004
Plan.







	·	 	The
date of grant shall be the date of the February  Board meeting held  each year in
accordance with the Board’s  regular meeting  schedule or,  if no such February
Board meeting is held in any given year,  the date  of grant shall be the date of the
first Board  meeting held  thereafter  during such year.







	·	 	 The
number of shares subject to each director’s  annual option shall be  that  number
of whole  shares  of  Common  Stock as is  determined  by  multiplying  the  value  of
the  option  (based  on  a  Black-Scholes  calculation)  times the current  fair market
value of the Common Stock  (as  determined in accordance  with the 2004 Plan) on the date
of grant  and dividing $35,000 by such product (with any fractional  shares being
eliminated unless the Administrator determines otherwise).







	·	 	 The
option term for each such annual option shall be 10 years.







	·	 	 The
option  shall  vest and  become  exercisable  in  installments,  as  follows:  (i) the
option  shall  become  vested and  exercisable  with  respect  to 20% of the  shares
subject  to  the  option  on the  first  anniversary  of the date of grant;  and (ii) the
option  shall  become  vested and exercisable  with respect to an additional 20% of the
shares  subject to the option on each of the  second,  third,  fourth and fifth
anniversaries  of the date of grant,  so that the option  shall  become  fully vested and
exercisable  on the fifth  anniversary of the date of  grant;  provided,  however,  that
if the  service of the  director as a  member  of  the  Board  shall  terminate,  then,
except  as  otherwise  provided in the Plan, the form Director  Option  Agreement or
under the  Director  Option  Program,  the option shall  terminate with respect to  any
portion of the option  which had not vested and become  exercisable  as of such date of
termination of service.






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	·	 	 In
the event that the director  terminates service for any reason other  than  retirement,
death  or  disability,  then  the  option  may  be  exercised,  to the  extent  it was
vested  and  exercisable  as of the  director’s  date of  termination  of  service,
for a period of 30 days  after the date of  termination  of service  (after which 30-day
period  such option shall  terminate),  and any unvested  portion of the option  shall
immediately terminate upon the director’s termination of service.







	·	 	 In
the event that the  director  terminates  service due to  retirement  (as determined in
accordance  with the retirement  policies  applicable  to members of the Board),  then
the option  shall  become  fully vested  and fully  exercisable  as of the date of
retirement and the option may  be exercised  in whole or in part  (without  regard to the
installment  provisions described above) for the full option term.







	·	 	 In
the event that the  director  terminates  service due to  disability  (as determined in
accordance  with the disability  policies  applicable  to members of the Board),  then
the option  shall  become  fully vested  and fully  exercisable  as of the date of
termination of service due to  disability  and  the  option  may be  exercised  in  whole
or in  part  (without regard to the installment  provisions described above) for the
full option term.







	·	 	 In
the event that the  director  terminates  service due to death,  the  option shall become
fully vested and fully  exercisable  as of the date  of  termination of service due to
death and the option may be exercised  in whole  or in part  (without  regard  to the
installment  provisions  described  above) by the  director’s  beneficiary  for the
full  option  term.







	·	 	 The
vesting  and  exercisability  of  a  director  option  shall  be  accelerated  in the
event  that an  event  or  transaction  deemed  to  involve a "change  of
control"  (as  defined  in the  Director  Option  Agreement) of the Corporation
occurs.







	·	 	 The
option  price  may be  paid  by  the  director  by  cash  or  cash  equivalent  or by
such other  means,  including  delivery  of shares of  Common Stock, as are provided in
the Director Option Agreement.







	·	 	 Any
director  who becomes a member of the Board during a calendar  year  but after the annual
grant date for such year shall  first be eligible  for an option  grant  under the
Director  Option  Program on the grant  date for the  following  year  (provided he is
still in service on such  grant date).







	·	 	 The
establishment  of the Director  Option Program does not affect any  director’s
receipt  of  other  compensation  or  benefits  from  the  Corporation.












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