Document:

CONFIDENTIAL TREATMENT REQUESTED

                                   ADDENDUM V
                                       TO
                         SPRINT PCS MANAGEMENT AGREEMENT

Manager:          Horizon Personal Communications, Inc.

Service Area:     Athens, OH BTA
                  Charleston, WV BTA
                  Chillicothe, OH BTA
                  Huntington, WV - Ashland, KY BTA
                  Parkersburg, WV - Marietta, OH BTA
                  Portsmouth, OH BTA
                  Zanesville - Cambridge, OH BTA
                  Danville, VA BTA
                  Lynchburg, VA BTA
                  Martinsville, VA BTA
                  Roanoke, VA BTA
                  Staunton-Waynesboro, VA BTA
                  Bluefield, VA BTA
                  Beckley, WV BTA
                  Kingsport, Johnson City, Bristol, TN BTA
                  Willamson-Pikeville, WV BTA
                  Logan, WV BTA
                  Cumberland, MD BTA
                  Fairmont, WV BTA
                  Morgantown, WV BTA
                  Clarksburg, WV BTA
                  Cincinnati, OH BTA (counties of Adams, Brown, Highland, Mason)
                  Canton-New Philadelphia, OH BTA (Coshocton County only)
                  Charlottesville, VA BTA
                  Ashtabula, OH BTA
                  DuBois-Clearfield, PA BTA
                  Erie, PA BTA
                  Jamestown, Warren, Dunkirk, PA BTA
                  Meadville, PA BTA
                  Oil City-Franklin, PA, BTA
                  Olean, NY, Bradford, PA BTA
                  Pottsville, PA BTA
                  Sharon, PA BTA
                  Scranton, Wilkes-Barre, PA BTA
                  State College, PA BTA
                  Stroudsburg, PA BTA
                  Sunbury-Shamokin, PA BTA
                  Williamsport, PA BTA
                  Allentown, PA BTA, only the county of Carbon
                  New York, NY BTA, only the counties of Sussex and Pike

<PAGE>

     This  Addendum  V (this  "Addendum"),  dated as of June 1,  2001,  contains
certain  additional and supplemental terms and provisions to that certain Sprint
PCS Management  Agreement entered into as of June 8, 1998 by the same parties as
this Addendum,  which  Management  Agreement was further amended by that certain
Addendum I entered  into as of June 8,  1998,  Addendum  II  entered  into as of
August 12,  1999,  Addendum  III entered into as of May 19, 2000 and Addendum IV
entered into as of June 1, 2000 (the Management Agreement, as amended by Addenda
I, II, III and IV being the "Management Agreement"). The terms and provisions of
this Addendum control,  supersede and amend any conflicting terms and provisions
contained in the Management Agreement.  Except for express modifications made in
this  Addendum,  the  Management  Agreement  continues in full force and effect,
including, but not limited to, the force majeure provision.

     Capitalized  terms used and not otherwise defined in this Addendum have the
meanings  ascribed  to them in the  Management  Agreement.  Section  and Exhibit
references are to Sections of, and Exhibits to, the Management Agreement, unless
otherwise noted.

     The Management Agreement is modified as follows:

     1. Revised Build-Out Plan.

     (a) Revised Exhibits.  Exhibit 2.1 to the Management Agreement (Revised May
9, 2000) is hereby superseded and replaced in its entirety by an Amended Exhibit
2.1 (Revised  Effective  June 1, 2001) (the "Amended  Exhibit 2.1")  attached to
this Addendum. Amended Exhibit 2.1 includes:

     (i)  Build-out Plan Map which sets forth the Full  Build-out  Coverage Area
          (no change from the Build-out Plan Maps for the original  Service Area
          as described in Addendum I, dated June 8, 1998; the Alliances'  resale
          markets as described  in Addendum  II, dated August 12, 1999;  and the
          expansion of the Service Area as described in Addendum III,  dated May
          9, 2000);

     (ii) Build-out  Plan Table which sets forth the Full Build-out Date and the
          covered  population  percentages  for each A  Market,  B Market  and C
          Market; and

     (iii) Build-out Plan Description.

     (b) Penalty, Initial Phase Market Launch

     Initial Phase Market Launch penalties will be assessed on the only phase of
single-phase markets and the first phase of multiple-phase markets. Each penalty
described in this  subsection will begin accruing at 12:01 am (Kansas City time)
on the date six  calendar  days after the  Contractual  Launch Date set forth in
Amended Exhibit 2.1 for that respective market.

     The A Markets  Penalty  Amount equals the amount set forth on the following
Penalty  Table  opposite  the  appropriate  range  of  number  of days  from and
including  the  Contractual  Launch Date to and including the date of the last A
Market to achieve Initial Phase Market Launch.

     The B Markets Penalty Amount equals the sum of the amounts set forth on the
following  Penalty Table opposite the  appropriate  range of number of days from
and  including  the  Contractual  Launch Date to and  including  the date each B
Market achieves Initial Phase Market Launch. The B Markets Penalty Amount is the
sum of each  individual B Market that launches past the  respective  Contractual
Launch Date; each individual B Market has a separate penalty amount.

     The C Markets Penalty Amount equals the sum of the amounts set forth on the
following  Penalty Table opposite the  appropriate  range of number of days from
and  including  the  Contractual  Launch Date to and  including  the date each C
Market achieves Initial Phase Market Launch. The C Markets Penalty Amount is the

                                       2
<PAGE>

                                        [***] - CONFIDENTIAL TREATMENT REQUESTED

sum of each  individual C Market that launches past the  respective  Contractual
Launch Date; each individual C Market has a separate penalty amount.
<TABLE>
<CAPTION>

                                    Initial Phase Market Launch Penalty Table
<S>                                <C>                     <C>                             <C>
------------------------------------------------------------------------------------------------------------------
Penalty Period                        A Market Penalty            B Market Penalty            C Market Penalty
---------------------------------- ----------------------- ------------------------------- -----------------------
6-60 days past the Contractual              [***]                      [***]                       [***]
Launch Date
---------------------------------- ----------------------- ------------------------------- -----------------------
61-90 days past the Contractual             [***]                      [***]                       [***]
Launch Date
---------------------------------- ----------------------- ------------------------------- -----------------------
91-120 days past the Contractual            [***]                      [***]                       [***]
Launch Date
---------------------------------- ----------------------- ------------------------------- -----------------------
121-150 days past the                       [***]                      [***]                       [***]
Contractual Launch Date
---------------------------------- ----------------------- ------------------------------- -----------------------
151- 180 days past the                      [***]                      [***]                       [***]
Contractual Launch Date
</TABLE>

     (c) Penalty, Full Build-out

     Full  Build-out  Coverage  penalties will be assessed on the final phase of
multiple-phase  markets and are in addition to any Initial  Phase Market  Launch
penalties  assessed in accordance with Section 1(b) in  multiple-phase  markets.
Each  penalty  described  in this  subsection  will begin  accruing  at 12:01 am
(Kansas City time) on the date six calendar days after the Full  Build-out  Date
set forth in Amended Exhibit 2.1 for that respective market.

     The A Markets  Penalty  Amount equals the amount set forth on the following
Penalty  Table  opposite  the  appropriate  range  of  number  of days  from and
including the Full Build-out Date to and including the date of the last A Market
to achieve Full Build-out Coverage.

     The B Markets Penalty Amount equals the sum of the amounts set forth on the
following  Penalty Table opposite the  appropriate  range of number of days from
and  including the Full  Build-out  Date to and including the date each B Market
achieves Full  Build-out  Coverage.  The B Markets  Penalty Amount is the sum of
each  individual  B Market in which  Full  Build-out  Coverage  occurs  past the
respective Full Build-out Date; each individual B Market has a separate  penalty
amount.

     The C Markets Penalty Amount equals the sum of the amounts set forth on the
following  Penalty Table opposite the  appropriate  range of number of days from
and  including the Full  Build-out  Date to and including the date each C Market
achieves Full  Build-out  Coverage.  The C Markets  Penalty Amount is the sum of
each  individual  C Market in which  Full  Build-out  Coverage  occurs  past the
respective Full Build-out Date; each individual C Market has a separate  penalty
amount.
<TABLE>
<CAPTION>

                                      Full Build-out Coverage Penalty Table
<S>                                <C>                     <C>                             <C>
---------------------------------- ----------------------- ------------------------------- -----------------------
Penalty Period                        A Market Penalty            B Market Penalty            C Market Penalty
---------------------------------- ----------------------- ------------------------------- -----------------------
6-60 days past the Full                    [***]                       [***]                       [***]
Build-out Date
---------------------------------- ----------------------- ------------------------------- -----------------------
61-90 days past the Full                   [***]                       [***]                       [***]
Build-out Date
---------------------------------- ----------------------- ------------------------------- -----------------------
91-120 days past the Full                  [***]                       [***]                       [***]
Build-out Date
</TABLE>

                                       3
<PAGE>
                                        [***] - CONFIDENTIAL TREATMENT REQUESTED

<TABLE>
<S>                                <C>                     <C>                             <C>
---------------------------------- ----------------------- ------------------------------- -----------------------
121-150 days past the Full                 [***]                       [***]                       [***]
Build-out Date
---------------------------------- ----------------------- ------------------------------- -----------------------
151- 180 days past the Full                [***]                       [***]                       [***]
Build-out Date
---------------------------------- ----------------------- ------------------------------- -----------------------
</TABLE>

     (d) Payment of Penalty Amounts.

     (i)  Manager will pay each  applicable  Initial Phase Market Launch penalty
          amount on or before (i) the date five  business  days after the last A
          Market  achieves the  Contractual  Launch Date and (ii) each date five
          business days after each B Market achieves the Contractual Launch Date
          and (iii) each date five  business  days after each C Market  achieves
          the Contractual Launch Date (each a "Payment Date").

     (ii) Manager will pay each applicable  Full Build-out  penalty amount on or
          before  (i) the  date  five  business  days  after  the  last A Market
          achieves Full Build-out Coverage and (ii) each date five business days
          after each B Market  achieves Full  Build-out  Coverage and (iii) each
          date five  business days after each C Market  achieves Full  Build-out
          Coverage (each a "Payment Date").

     (iii)Manager will also owe Additional  Interest on the  individual  penalty
          amounts,  which  Additional  Interest is payable in the same manner as
          the penalty amounts (e.g., timing and form of payment).

     (iv) Manager will pay the aggregate  penalty  amounts in cash or, if Sprint
          PCS and Manager agree, in Manager's  Shares.  Payments of cash will be
          made via wire transfer in  accordance  with  instructions  provided to
          Manager by Sprint PCS.

     (e) Waiver of Cure Rights. If Manager does not achieve Initial Phase Market
Launch or Full Build-out  Coverage in a Market by 11:59 p.m.  (Kansas City time)
on the 90-day  Threshold  or 180-Day  Threshold,  Manager will be in breach of a
material  term of the  Management  Agreement  and Sprint PCS will be entitled to
pursue its remedies under Section 11.3.3 of the Management Agreement.  If Sprint
PCS pursues such remedies, Manager agrees that, in pursuing any defenses that it
may have to such  remedies,  Manager  waives any rights to the cure  periods set
forth in Section 11.3.3 of the Management Agreement.

     (f) Definitions.

     "90-Day  Threshold"  means the date 90 calendar days after the  Contractual
Launch Date or the Full  Build-out  Date, as the case may be, for a respective A
Market, B Market, or C Market.

     "180-Day  Threshold" means the date 180 calendar days after the Contractual
Launch Date or the Full  Build-out  Date, as the case may be, for a respective A
Market, B Market or C Market.

     "A Markets" means Phase II core Scranton and Wilkes-Barre,  PA as indicated
on Amended Exhibit 2.1.

     "Additional  Interest" means the sum of the products of (A) each individual
penalty amount,  multiplied by (B) [***] per annum, multiplied by (C) the number
of  calendar  days from the  respective  Payment  Date to the date such  penalty
amount is actually paid, inclusive, divided by 365.

     "B Markets"  means  Scranton/Wilkes-Barre,  PA BTA Phase IIA and Phase III,
Jamestown,  Warren,  Dunkirk PA BTA Phase III, State College,  PA BTA Phase III,
Williamsport, PA BTA Phase III, Sunbury-Shamokin, PA BTA Phase III, Stroudsburg,

                                       4
<PAGE>

PA BTA Phase IIA,  Sharon,  PA BTA Phase III, New York,  NY BTA (Sussex and Pike
Counties  only) Phase IIA and Phase III and Erie, PA BTA Phase III, as indicated
on the Amended Exhibit 2.1.

     "C Markets" means Oil City, Franklin, PA BTA Phase III, Du Bois-Clearfield,
PA  BTA  Phase  III,  Pottsville,  PA  BTA  Phase  IIA  and  Phase  III,  Olean,
NY-Bradford, PA BTA Phase III, Allentown, PA BTA (Carbon County only), Phase IIA
and Phase III , as indicated on the Amended Exhibit 2.1.

     "Change of  Control  Transaction"  means a  transaction  that  results in a
Change of Control of Manager.

     "Contractual  Launch  Date"  means  the  respective  date set  forth on the
Build-out Plan Table portion Amended Exhibit 2.1.

     "Full  Build-out  Coverage"  means network  coverage of the geographic area
described in Amended Exhibit 2.1 in which (i) Manager has met  substantially all
Sprint PCS  standards  and  Program  Requirements  for  operational  and network
readiness  (which  includes  but is  not  limited  to  completion  of  the  OPAC
checklist,  OPAC process,  test plans,  coverage definition,  assessment of site
readiness, network optimization, operational and systems readiness assessment by
the Sprint PCS Operational  Readiness Team); (ii) Manager has handset inventory,
training  completed  and  point-of-sale  materials  for Sprint  PCS,  Sprint PCS
National  Third Party and local third party  retail  outlets to meet  reasonably
expected subscriber demand;  (iii) Manager markets and sells Sprint PCS Products
and Services through mass advertising (i.e., print, radio and television media);
and (iv) Manager has met substantially all Sprint PCS soft launch criteria which
means  (A)  systems  are up and  functioning,  stores  contemplated  in the OPAC
checklist are operational (and open), and activations can occur, (B) soft launch
typically  occurs one week after  network  ready date,  and one week before hard
launch, (C) activations of friendly accounts may occur, but any store traffic is
strictly unsolicited; (D) launch-related hiring and training should be completed
prior to soft launch.

     "Full  Build-out  Coverage  Area" means the  geographic  area  described in
Amended Exhibit 2.1.

     "Full  Build-out Date" means the respective date set forth on the Build-out
Plan Table portion of Amended Exhibit 2.1.

     "Initial Phase Market Launch" means the first build-out phase of a specific
A, B or C Market to meet the  requirements  for that  Market as set forth in the
Amended Exhibit 2.1 Build-out Plan Map,  Build-out Plan Table and Build-out Plan
Description  and  satisfies the  requirements  of "Full  Build-out  Coverage" as
defined in section 1(f), including any exceptions  pre-approved by Sprint PCS as
described in section 1(e) (iii), of this Addendum V to the Management Agreement.

     "Manager Shares" is defined as follows:

     (i)  if no Change of Control  Transaction  has occurred  prior to a Payment
          Date,  then the number of shares of Manager to be issued to Sprint PCS
          shall be  calculated  by  multiplying  (A) the total  number of shares
          outstanding  of Manager  determined  on a fully diluted basis by (B) a
          fraction, the numerator of which will be the dollar amount that Sprint
          PCS shall be  entitled to receive  hereunder  and the  denominator  of
          which will be the total  dollar  amount of  Manager's  total equity in
          respect of shares outstanding determined on a fully-diluted basis; or

     (ii) if a Change of Control  Transaction  has  occurred  prior to a Payment
          Date,  then  Sprint PCS shall be  entitled  to  receive  the number of
          shares  of  the  entity  acquiring  Manager  in a  Change  of  Control
          Transaction  (the "Acquirer") as Sprint PCS would have received if the
          Manager Shares  calculation set forth in clause (i) above had occurred
          and the requisite  number of Manager  Shares had been issued to Sprint
          PCS  immediately  prior to the  effective  time of any such  Change of
          Control  Transaction  and Sprint PCS shall also be entitled to receive
          such other and additional  consideration in respect thereof that would

                                       5
<PAGE>
                                        [***] - CONFIDENTIAL TREATMENT REQUESTED

          have been  receivable had such Manager  Shares been  outstanding as of
          the effective time of such Change of Control Transaction.

     2.  Additional  Terms  and  Provisions.   The  phrase  "the  Addendum  also
describes"  is  deleted  from the second  sentence  of  Section  17.24,  and the
following  language  is  inserted  at the  end of  that  second  sentence:  "are
described on Exhibit 17.24, and photocopies of any such written  agreements have
been delivered to Sprint PCS".

     3. Expedite Fees. If Sprint PCS and Manager agree to pay additional fees to
a third party for any  efforts  associated  with  expediting  completion  of any
portion  of  Manager's  Build Out Plan or Switch  Integration  to meet a Network
Ready Date (the "NRD") including,  but not limited to, payment of expedited fees
for microwave relocation, and the NRD is later extended due to Manager action or
lack of action,  then Manager will have full  responsibility  for the payment of
such fees.

     4.  Deletion  of  Sections.  Sections  5,  6 and  7 of  Addendum  I to  the
Management Agreement are hereby deleted in their entirety.

     5.  Definitions.  The  following  definition  is added to the  Schedule  of
Definitions,  and in Section 2.3, the phrase "wireless  mobility  communications
network" is replaced by the phrase "Wireless Mobility Communications Network":

     "Wireless  Mobility  Communications  Network" means a radio  communications
system  operating in the 1900 MHz spectrum  range under the rules  designated as
Subpart E of Part 24 of the FCC's rules.

     6. Spectrum Availability. Manager and Sprint PCS agree that Manager has the
right to use either (i) all of the PCS Spectrum  identified  in Amended  Exhibit
2.1 in the  portion  of a  particular  BTA that is part of the  Service  Area if
Sprint PCS has 20 MHz or less of spectrum within such portion of that particular
BTA or (ii) all of the PCS Spectrum up to 20 MHz of the PCS Spectrum  identified
in Amended  Exhibit 2.1 in the portion of a  particular  BTA that is part of the
Service Area if Sprint PCS has more than 20 MHz of spectrum  within such portion
of that particular BTA. Manager agrees to design its Service Area Network to use
the allocated PCS Spectrum efficiently.

     In any BTA within the Service Area where Sprint PCS has more than 20 MHz of
PCS Spectrum  (such amount of PCS Spectrum in excess of 20 MHz being referred to
as "Available PCS Spectrum"),  Sprint PCS, in its sole  discretion,  may use (if
not used in the operation of a Wireless Mobility Communications  Network), sell,
assign or otherwise  dispose of ("Transfer")  any Available PCS Spectrum that is
not then  currently  being used by  Manager [***].

     If Sprint PCS acquires  additional PCS Spectrum in [***],  then the portion
of that  spectrum  that is  needed to have 20 MHz  available  for  Manager  (the
"Requested  Spectrum") will be made available to Manager for Manager's use under
the  Management  Agreement  at [***].  If more than the  Requested  Spectrum  is
acquired  by Sprint PCS in [***],  Sprint PCS has the right to  determine  which
range  of the  Requested  Spectrum  may be used by  Manager.  Any  acquired  PCS
Spectrum  in excess of the  Requested  Spectrum  will be  deemed  Available  PCS
Spectrum and subject to the provisions of the previous paragraph.

     7.  Preservation  of Sprint PCS  Licenses.  Section  2(e) of Addendum II is
modified by changing all references to "June 30, 2002" to "April 29, 2002".

                                       6
<PAGE>

     In addition,  if Sprint PCS and the Alliances consummate a license exchange
that  results  in a change to Sprint  PCS'  Build-out  Requirements  (i.e.,  the
B-Block  Build-out   Requirements  apply  instead  of  the  D/E-Block  Build-out
Requirements), then Sprint PCS' notification and Manager's build-out obligations
will be modified to meet the applicable Build-out Requirements.

     8.  Insurance.  The "Commercial  General  Liability  Insurance:  section of
Exhibit 12.3 to the  Management  Agreement  is modified by adding the  following
sentence  to the end of that  section:  "However,  Manager  may obtain  separate
insurance covering projects near a railroad right-of-way on a project-by-project
basis,   if  in  Manager's   discretion,   the  cost  of  general   coverage  is
unreasonable."

     9.  Governing Law and  Jurisdiction.  (a) Section  17.12 of the  Management
Agreement,  Section 9.11 of the Services  Agreement  and Section 15.8 of each of
the  Trademark  License  Agreements is deleted in its entirety and replaced with
the following language:

          Governing  Law.  The  internal  laws of the State of  Kansas  (without
     regard to  principles  of  conflicts  of law)  govern the  validity of this
     agreement,  the  construction of its terms, and the  interpretation  of the
     rights and duties of the parties.

     (b)  Paragraphs  (a)  and (b) of  Section  15.13  of each of the  Trademark
License Agreements are deleted in their entirety and replaced with the following
language:

          (a) Each party hereby  irrevocably and  unconditionally  submits,  for
     itself and its property,  to the  nonexclusive  jurisdiction  of any Kansas
     State court  sitting in the County of Johnson or any  Federal  court of the
     United  States of  America  sitting  in the  District  of  Kansas,  and any
     appellate  court  from any such  court,  in any suit  action or  proceeding
     arising  out of or  relating  to  this  agreement,  or for  recognition  or
     enforcement  of  any  judgment,  and  each  party  hereby  irrevocably  and
     unconditionally  agrees that all claims in respect of any such suit, action
     or proceeding may be heard and determined in such Kansas State Court or, to
     the extent permitted by law, in such Federal court.

          (b) Each party hereby irrevocably and  unconditionally  waives, to the
     fullest  extent it may  legally  do so, any  objection  which it may now or
     hereafter  have to the  laying of venue of any suit,  action or  proceeding
     arising out of or relating to this  agreement in Kansas State court sitting
     in the County of Johnson or any Federal  court  sitting in the  District of
     Kansas.  Each  party  hereby  irrevocably  waives,  to the  fullest  extent
     permitted by law, the defense of an  inconvenient  forum to the maintenance
     of such suit, action or proceeding in any such court and further waives the
     right to object, with respect to such suit, action or proceeding, that such
     court does not have jurisdiction over such party.

     10. Notice Address.  The address for all entities  comprising Sprint PCS on
the Notice Address Schedule is changed to the following:

         Sprint PCS
         6160 Sprint Parkway, Building 9
         Overland Park, KS  66251
         Telephone: 913-762-7100
         Telecopier:  913-762-7102
         Attention: President, Sprint PCS

                                       7
<PAGE>

with a copy to

         Sprint PCS
         6160 Sprint Parkway, Building 9
         Overland Park, KS  66251
         Telephone: 913-762-7400
         Telecopier:  913-762-0920
         Attention: General Counsel, Sprint PCS

     11.   Counterparts.   This   Addendum  may  be  executed  in  two  or  more
counterparts,  each of which shall  constitute an original but all of which when
taken together shall constitute but one agreement.

                                       8
<PAGE>

     IN  WITNESS  WHEREOF,   the  parties  have  caused  their  duly  authorized
representatives to execute this Addendum as of the date first above written.

                               HORIZON PERSONAL
                               COMMUNICATIONS INC

                               By:  /s/
                                  --------------------------------------
                               Name:
                                  --------------------------------------
                               Title:
                                  --------------------------------------

                               SPRINT SPECTRUM L.P.

                               By:  /s/ Thomas E. Mateer
                                  --------------------------------------
                               Thomas E. Mateer,
                               Vice President - Affiliations

                               SPRINTCOM, INC.

                               By:  /s/ Thomas E. Mateer
                                  --------------------------------------
                               Thomas E. Mateer,
                               Vice President - Affiliations

                               SPRINT COMMUNICATIONS
                               COMPANY L.P.

                               By:  /s/ Ed Mattix
                                  --------------------------------------
                               Ed Mattix,
                               Senior Vice President - Public Affairs

                                       9
<PAGE>
                                        [***] - CONFIDENTIAL TREATMENT REQUESTED

[***]

Mr. Bill McKell, President
Horizon Personal Communications, Inc.
68 East Main Street
Chillicothe, OH 45601

Re:  The  contractual  coverage  footprint  for  the  Phase I  build-out  of the
Ashtabula,  OH, Erie, PA, Jamestown, NY, Meadville, PA, Sharon, PA and Olean, NY
BTA  coverage  areas,  the  Knoxville,  TN Phase IIA BTA  coverage  area and the
Scranton/Wilkes-Barre,  PA Phase II core BTA  coverage  area and Penalty  Amount
assessment  as  described in Addendum V of the Sprint PCS  Management  Agreement
among various Sprint PCS entities and Horizon Personal Communications, Inc. (the
"Management Agreement")

Dear Bill:

The purpose of this letter is to advise  Horizon  Personal  Communications  that
Sprint PCS has reviewed the current  coverage  footprint  for the  following BTA
coverage  areas as described in Addendum V to the  Management  Agreement and the
Amended Exhibit 2.1 dated June 1, 2001:

>>       Ashtabula, OH Phase I.
>>       Erie, PA Phase I.
>>       Jamestown, NY Phase I.
>>       Meadville, PA Phase I.
>>       Sharon, PA Phase I.
>>       Olean, NY Phase I.
>>       Scranton/Wilkes-Barre, PA Phase II core.
>>       Knoxville, TN Phase IIA.

Sprint PCS acknowledges that Horizon Personal  Communications has materially met
the  footprint  coverage  requirements  agreed to in the  modified  Exhibit  2.1
Build-out Plan Map,  Build-out Plan  Description  and Build-out Plan Table dated
June  1,  2001 as it  relates  to the  individual  build-out  phases  of the BTA
coverage areas listed above. Therefore, Horizon Personal Communications has also
met the material  requirements  of the above listed Phase I, Phase IIA and Phase
II core BTA coverage areas in the Amended Exhibit 2.1, as modified in Addendum V
to the Management Agreement.

Sprint PCS will not  assess  any  penalties  under  section 1 (b) of  Addendum V
related to the Phase I, Phase IIA and Phase II core BTA  coverage  areas  listed
above.

Sincerely,

Thomas E. Mateer,
Vice-president, Affiliations and Private Label Services

<PAGE>
                                         Confidential Portion Indicated by "[ ]"
<TABLE>
<CAPTION>

      EXHIBIT 2.1 BUILD-OUT PLAN                                                Horizon Personal Communications Exhibit 2.1
                                                                                    (Addendum V Revision/ June 1, 2001)
<S>    <C>                      <C>          <C>         <C>        <C>          <C>          <C>
    Service Area                                           Build-out Plan
--------------------------------------------------------------------------------------------------------------
                                 Initial                                                      Contractual
                                 Phase/Full   Approx.    Total 2000 Covered      % Covered    Launch Date/Full
 BTA#  BTA Name (or County Name) Build-out    # Cells    BTA POPS   2000 POPs    1999 POPs    Build-out Date
------ ------------------------- ----------- ----------- ---------- ------------ ------------ ----------------
HORIZON BUILT BTA'S
  23   Athens,OH                                  8       131,261      58,711       45%         May-98
  80   Chillicothe, OH                           13       102,128      83,905       82%         Sep-97
 342   Parkersburg, WV                           11       183,473     111,144       61%         Nov-98
 359   Portsmouth, OH                             3        92,379      46,789       51%         Nov-98
 487   Zanesville-Cambridge, OH                  18       186,071     105,451       57%         Mar-98
 229   Kingsport/Johnson                         50       690,563     326,157       47%         Oct-00
       City, TN
  81   Cincinnati, OH                                     127,426
       (Adams, Brown,
       Highland, Mason Co.)
  65   Canton-New                                          36,215
       Philadelphia, OH
       (Coshocton Co.)
 197   Huntington,
       WV-Ashland KY
       (Jessup & Gallia Co.)
 474   Williamson, WV                            6        186,257      32,421       17%         [***]
 259   Logan WV                                  6         41,167      12,309       30%         [***]
 100   Cumberland,  MD                           6        158,077      52,767       33%         [***]
 215   Jamestown, Warren                        51        178,737     123,201       69%         Jun-00
       Dunkirk, PA
         Phase I-B Market            I*                                                         Jun-00
         Phase III-B Market          F*                                                         31-Oct-01
 131   Erie, PA                                 47        278,611     250,293       90%
         Phase I-B Market            I*                                                         Jun-00
         Phase III-B Market          F*                                                         31-Oct-01
  21   Ashtabula, OH                            22        100,166      79,750       80%
         Phase I-C Market            I*                                                         Jun-00
 287   Meadville, PA                            15         89,569      41,852       47%
         Phase I-C Market            I*                                                         Jun-00
 328   Oil City, Franklin, PA                   26        103,580      41,582       40%
         Phase III-C Market          F*                                                         31-Oct-01
 330   Olean, Bradford, PA                      57        242,822      81,259       33%
         Phase I-C Market            I*                                                         Jun-00
         Phase III-C Market          F*                                                         31-Oct-01
 117   Du Bois, Clearfield, PA                  30        128,642      76,026       59%
         Phase III-C Market          I*                                                         31-Oct-01
 429   State College, PA                        34        130,517     103,624       79%
         Phase III-B Market          I*                                                         31-Oct-01
 475   Williamsport, PA                         43        159,910     115,000       72%
         Phase III-B Market          I*                                                         31-Oct-01
 437   Sunbury, Shamokin, PA                    34        183,746     120,829       66%
         Phase III-B Market          I*                                                         31-Oct-01
 416   Sharon, PA                               27        121,556      95,679       79%
         Phase I-B Market            I*                                                         Jun-00
         Phase III-B Market          F*                                                         31-Oct-01
 412   Scranton, Wilkes Barre, PA              159        669,825     492,673       74%
         Phase II Core-A Market      I*                                                         [***]
         Phase IIA-B Market          I*                                                         31-Jul-01
         Phase III-B Market          F*                                                         31-Oct-01
 360   Pottsville, PA                           36        149,443      90,422       61%
         Phase IIA-C Market          I*                                                         30-Sep-01
         Phase III-C Market          F*                                                         31-Oct-01
 435   Stroudsburg, PA                          21        131,529      45,978       35%
         Phase IIA-B Market          I*                                                         31-Jul-01
  10   Allentown Carbon County                  18         59,139      31,113       53%
         Phase IIA-C Market          I*                                                         31-Aug-01
         Phase III-C Market          F*                                                         31-Oct-01
 321   New York, NY                             58
       Sussex County                                      128,286      88,109       69%
       Pike County                                         42,790      12,908       30%
         Phase IIA-B Market          I*                                                         [***]
         Phase III-B Market          F*                                                         31-Oct-01
 232   Knoxville, TN
       Hamblen Co.                                         53,510      17,762       33%
       Jefferson Co. (Partial)                              4,512       1,798       40%
         Phase IIA-C Market          I*                                                         15-May-01

       Total Horizon Built BTA's               799      4,891,907   2,739,512       56%
       Northern PA Markets                     678      2,898,868   1,890,298       65%

NTELOS BUILT BTA'S

 104   Danville, VA                             15        163,533      86,701       53%         1-Oct-99
 266   Lynchburg, VA                            25        157,324     128,990       82%         1-Oct-99
 284   Martinsville, VA                         10         88,038      56,241       64%         1-Oct-99
 376   Roanoke, VA                              55        626,125     373,899       60%         1-Oct-99
 430   Staunton-Waynesboro, VA                  12        105,731      87,604       83%         1-Oct-99
  75   Charlottsville, VA                       50        210,940     131,631       62%         1-Oct-99
  73   Charleston, WV                           45        490,210     224,470       46%         1-Nov-98
  48   Bluefield, WV                            10        174,919      49,868       29%         [***]
  35   Beckley, WV                              10        165,927      59,721       36%         1-Oct-00
 137   Fairmont, WV                              6         57,477      45,973       80%         1-Oct-99
 306   Morgantown, WV                           15        106,766      68,201       64%         1-Oct-99
  82   Clarksburg, WV                           10        194,784      65,409       34%         1-Oct-99
 197   Huntington,                              21        375,537     243,967       65%         1-Nov-98
       WV-Ashland, KY

       Total  NTELOS                           284      2,917,311   1,622,675       56%
       Built BTA's

       Grand Total                            1083      7,809,218   4,362,187       56%
</TABLE>

*NOTE:  I* refers to the  Initial  Phase  Market  Launch,  defined  as the first
build-out  phase of a specific A, B, or C market to satisfy the  requirements as
defined in the Exhibit 2.1 Table, Map and Build-out Narrative.

F* refers to the Full  Build-out,  defined  as the  final  build-out  phase of a
specific  A, B, or C market  with  multiple  build-out  phases  to  satisfy  the
requirements as defined in the Exhibit 2.1 Table,  Map and Build-out  Narrative.
Markets with a single launch/build-out phase are defined as Initial Phase Market
Launches.

<PAGE>
<TABLE>
<CAPTION>

      EXHIBIT 2.1 BUILD-OUT PLAN                                                Horizon Personal Communications Exhibit 2.1
                                                                                    (Addendum V Revision/ June 1, 2001)
<S>    <C>                      <C>           <C>         <C>        <C>          <C>                     <C>     <C>      <C>
                                                                                                                  BTA
                                                                                                                  License
                                                                                                                  Holder
                                                                                                                  for
                                                                                                                  Sprint
                                                                                                                  licenses
                                   Total      Covered     % Sprint   Sprint LTD                                   in
                                 Sprint LTD   Sprint      LTD Lines  Access                               License NTELOS   License
BTA#   BTA Name (or County Name) Access Lines LTD Lines   Covered    Priority     BTA License Holder      Block   markets   Block
------ ------------------------- ------------ ----------- ---------- ------------ ----------------------  ------- -------- ---------
HORIZON BUILT BTA's
  23   Athens,OH                    0           0               0%        No      Sprint Com, Inc.        D & E
  80   Chillicothe, OH              0           0               0%        No      Sprint Com, Inc.        D & E
 342   Parkersburg, WV              0           0               0%        No      Sprint Com, Inc.        D & E
 359   Portsmouth, OH               0           0               0%        No      Sprint Com, Inc.        D & E
 487   Zanesville-Cambridge, OH     0           0               0%        No      Sprint Com, Inc.        D & E
 229   Kingsport/Johnson         276,474       179,373         65%        Yes     Sprint Com, Inc.        D & E
       City, TN
  81   Cincinnati, OH               0           0               0%        No      Sprint Com, Inc.        D & E
       (Adams, Brown,
       Highland, Mason Co.)
  65   Canton-New Philadelphia      0           0               0%        No      Sprint Com              D
       OH (Coshocton Co.)
 197   Huntington, WV-                                                            Sprint Com, Inc.        D & E
       Ashland KY (Jesup
       & Gallia Co.)
 474   Williamson, WV               0           0               0%        No      Sprint Com, Inc.        D & E
 259   Logan WV                     0           0               0%        No      Sprint Com, Inc.        D & E
 100   Cumberland, MD               0           0               0%        No      American PCS, L.P.      A
 215   Jamestown, Warren                                                          WIRELESSCO, L.P.        A
       Dunkirk, PA
         Phase I-B Market
         Phase III-B Market
 131   Erie, PA                                                                   Sprint Com, Inc.        D
         Phase I-B Market
         Phase III-B Market
  21   Ashtabula, OH              6,268         6,268           100%      No      Sprint Com, Inc.        D
         Phase I-C Market
 287   Meadville, PA                                                              Sprint Com, Inc.        D
         Phase I-C Market
 328   Oil City, Franklin, PA     2,388         2,388           100%      No      WIRELESSCO, L.P.        A
         Phase III-C Market
 330   Olean, Bradford, PA                                                        WIRELESSCO, L.P.        A
         Phase I-C Market
         Phase III-C Market
 117   Du Bois, Clearfield, PA                                                    WIRELESSCO, L.P.        A
         Phase III-C Market
 429   State College, PA          2,128          1,064          50%       No      PHILLIECO, L.P.         B
         Phase III-B Market
 475   Williamsport, PA           3,571          3,571          100%      No      PHILLIECO, L.P.         B
         Phase III-B Market
 437   Sunbury, Shamokin, PA                                                      PHILLIECO, L.P.         B
         Phase III-B Market
 416   Sharon, PA                 2,569          2,235          87%       No      Sprint Com, Inc.        D
         Phase I-B Market
         Phase III-B Market
 412   Scranton, Wilkes Barre, PA                                                 WIRELESSCO, L.P.        B
         Phase II Core-A Market
         Phase IIA-B Market
         Phase III-B Market
 360   Pottsville, PA                                                             PHILLIECO, L.P.         B
         Phase IIA-C Market
         Phase III-C Market
 435   Stroudsburg, PA                                                            WIRELESSCO, L.P.        B
         Phase IIA-B Market
  10   Allentown Carbon County                                                    WIRELESSCO, L.P.        B
         Phase IIA-C Market
         Phase III-C Market
 321   New York, NY                                                               WIRELESSCO, L.P.        B
       Sussex County             46,518         32,057          69%      Yes
       Pike County
         Phase IIA-B Market
         Phase III-B Market
 232   Knoxville, TN                                                              Sprint Com, Inc.        D
       Hamblen Co.
       Jefferson Co. (Partial)
         Phase IIA-C Market

       Total Horizon BTA's      339,916         226,956         67%
       Northern PA Markets

NTELOS BUILT BTA'S

 104   Danville, VA              24,156          2,633          11%       No       Virginia PCS          B        Sprint       D
                                                                                   Alliance, L.P.                 Com, Inc.
 266   Lynchburg, VA              6,808          0              0%        No       Virginia PCS          B        Sprint       D
                                                                                   Alliance, L.P.                 Com, Inc.
 284   Martinsville, VA          44,538          27,467         62%       No       Virginia PCS          B        Sprint       D
                                                                                   Alliance, L.P.                 Com, Inc.
 376   Roanoke, VA               68,767          13,808         20%       No       Virginia PCS          B        Sprint       D
                                                                                   Alliance, L.P.                 Com, Inc.
 430   Staunton-Waynesboro,         0             0             0%        No       Virginia PCS          B        Sprint       D
       VA                                                                          Alliance, L.P.                 Com, Inc.
  75   Charlottsville, VA        88,081          69,563         79%       Yes      Virginia PCS          C        Sprint       D & E
                                                                                   Alliance, L.P.                 Com, Inc.
  73   Charleston,               18,518          0              0%        No       West Virginia         B        Sprint       D & E
       WV                                                                          PCS Alliance, L.P.             Com, Inc.
  48   Bluefield, WV             1,821           0              0%        No       West Virginia         B        Sprint       D & E
                                                                                   PCS Alliance, L.P.             Com, Inc.
  35   Beckley, WV                  0            0              0%        No       West Virginia         B        Sprint       D & E
                                                                                   PCS Alliance, L.P.             Com, Inc.
 137   Fairmont, WV                 0            0              0%        No       West Virginia         F                     A
                                                                                   PCS Alliance, L.P.
 306   Morgantown,                  0            0              0%        No       West Virginia         F                     A
       WV                                                                          PCS Alliance, L.P.
  82   Clarksburg,                  0            0              0%        No       West Virginia         E                     A
       WV                                                                          PCS Alliance, L.P.
 197   Huntington,                  0            0              0%        No       West Virginia         B         Sprint      D & E
       WV-Ashland, KY                                                              PCS Alliance, L.P.              Com, Inc.

       Total  NTELOS             252,689         113,471        45%
       Built BTA's

       Grand Total               592,605         340,427        57%
</TABLE>

*NOTE:  I* refers to the  Initial  Phase  Market  Launch,  defined  as the first
build-out  phase of a specific A, B, or C market to satisfy the  requirements as
defined in the Exhibit 2.1 Table, Map and Build-out Narrative.

F* refers to the Full  Build-out,  defined  as the  final  build-out  phase of a
specific  A, B, or C market  with  multiple  build-out  phases  to  satisfy  the
requirements as defined in the Exhibit 2.1 Table,  Map and Build-out  Narrative.
Markets with a single launch/build-out phase are defined as Initial Phase Market
Launches.

1370987

<PAGE>

                         Horizon Personal Communications
                Exhibit 2.1 Build-out Plan Narrative Description
                       (Addendum V Revision/June 1, 2001)

Phase I consists of:                BTA #021Ashtabula OH
                                    BTA #131Erie PA
                                    BTA #215Jamestown NY
                                    BTA #287Meadville PA
                                    BTA #330Olean NY
                                    BTA #416Sharon PA

The I-90 corridor  includes  Sprint PCS Phase 3 coverage in BTA #021 - Ashtabula
OH,  BTA #131 - Erie PA, and BTA #215 -  Jamestown  NY.  The  coverage  area for
Horizon's  I-90 corridor will extend from Sprint PCS's coverage near the western
boundary  of the  Ashtabula  BTA on  Interstate  90  northeast  to Sprint  PCS's
coverage  near the  northeastern  boundary of the  Jamestown  BTA  including the
cities of Ashtabula, OH and Erie, PA. Coverage will also extend along Ohio Route
11 from I-90 south to meet Sprint PCS's  coverage near the southern  boundary of
the Ashtabula BTA.

The I-79 corridor  includes  Sprint PCS Phase 3 coverage in BTA #287 - Meadville
PA and BTA #416 - Sharon PA. The coverage area for Horizon's  I-79 corridor will
extend  along  Interstate  79 from Erie to meet  Sprint  PCS  coverage  near the
southern  boundary  of the  Sharon  BTA  including  the city of  Meadville,  PA.
Coverage will also extend along  Interstate  80 from Sprint PCS's  coverage near
the western  boundary of the Sharon BTA east to the I-79  interchange  including
the city of Sharon, PA.

The US 219 corridor includes Sprint PCS Phase 3 coverage in BTA #330 - Olean NY.
The coverage  area for  Horizon's US 219 corridor  will extend along US 219 from
Sprint PCS's current coverage near the northern  boundary of the Olean BTA south
to the village of Ellicotteville, NY.

<PAGE>

                         Horizon Personal Communications
                Exhibit 2.1 Build-out Plan Narrative Description
                       (Addendum V Revision/June 1, 2001)

Phase II Core Coverage consists of:         BTA #412          Scranton PA

Specifically,  Phase II Core Coverage in BTA #412-Scranton,  PA will include the
following:

Coverage in the Scranton and  Wilkes-Barre  area along  Interstate 81, northeast
from  Nuangola  up to  Archbald,  including  the  towns  of  Nanticoke,  Moosic,
Kingston, Scranton, Wilkes-Barre and Dunmore.

<PAGE>

                         Horizon Personal Communications
                Exhibit 2.1 Build-out Plan Narrative Description
                       (Addendum V Revision/June 1, 2001)

Phase IIA consists of:              BTA #360         Pottsville PA
                                    BTA #412         Scranton PA
                                    BTA #435         Stroudsburg PA
                                    BTA #010         Allentown PA
                                    BTA #321         New York NY
                                    BTA #232Knoxville TN

The coverage area for Horizon's  Northeastern  Pennsylvania Cluster includes BTA
#412 - Scranton PA, BTA #360 -  Pottsville  PA, BTA #435 -  Stroudsburg  PA, BTA
#010 - Allentown PA (Carbon  County),  and BTA #321 - New York NY (Pike & Sussex
County).  Coverage will extend along Interstate 81 from the southern boundary of
the Pottsville BTA northeast to the northern  boundary of Scranton BTA including
the cities of Pottsville, Scranton, Wilkes-Barre, Hazelton and Carbondale.

Specifically,  Phase IIA  coverage  in BTA  #412-Scranton,  PA will  include the
following:

1.   North along Interstate 380 from the northern border of Stroudsburg BTA #435
     to the edge of Horizon's Phase 2 Scranton Wilkes-Barre core coverage.

2.   South along Interstate 81 from Horizon's Phase 2 Scranton Wilkes-Barre core
     coverage at Nuangola to the northern  boundary of  Pottsville  PA BTA #360,
     including the town of Hazleton.

3.   East along Interstate 84 from the 380/84  interchange to the western border
     of Pike County in New York, NY BTA #321.

4.   South along Highway 476 from the 476/81  interchange to the northern border
     of Carbon County in the Allentown, PA BTA #010.

5.   East along  Interstate 80 from the 81/80  interchange  to the Carbon County
     border in the Allentown, PA BTA #010.

6.   Northwest  along 29 from the Scranton  core  coverage  area  including  the
     Harvey's Lake area and the towns of Dallas, Noxen and Lehman.

7.   North on  Interstate  81 from  the  380/81  interchange  to the  border  of
     Scranton BTA #435.

8.   West of  Honesdale  on 6 to the Scranton  core  coverage,  southeast to the
     Scranton/Pike  BTA border to include the town of Hawley and southwest along
     the Pike county border to Interstate 84.

Coverage will also extend along Interstate 80 from the I-81 interchange eastward
to the  southeastern  boundary  of the  Stroudsburg  BTA  including  the city of
Stroudsburg,  along  Interstate  84 from the I-81  interchange  eastward  to the
eastern boundary of Pike County including  portions of Sussex County,  and along
the entire length of Interstate 380.  Additional coverage will be provided along
Pennsylvania  Route 9 (Turnpike NE xtender) between Interstate 81 and Interstate
80 and in the eastern portion of Carbon County.

The I-40  Corridor  includes  BTA #232 - Knoxville  TN. The I-40  corridor  will
extend from Sprint PCS's coverage near the western  boundary of Jefferson county
in the Knoxville BTA east on  Interstates  40 and 81 to Horizon's  coverage near
the eastern  boundary of Knoxville BTA and will include the city of  Morristown,
TN. Coverage also includes I-40 South to the North Cocke County Line.

<PAGE>

                         Horizon Personal Communications
                Exhibit 2.1 Build-out Plan Narrative Description
                       (Addendum V Revision/June 1, 2001)

Phase III consists of:              BTA #117  Du Bois-Clearfield PA
                                    BTA #215  Jamestown NY
                                    BTA #328  Oil City-Franklin PA
                                    BTA #330  Olean NY
                                    BTA #360  Pottsville PA
                                    BTA #416  Sharon PA
                                    BTA #429  State College PA
                                    BTA #437  Sunbury-Shamokin PA
                                    BTA #475  Williamsport PA
                                    BTA #412  Scranton, Wilkes-Barre, PA
                                    BTA #360  Pottsville, PA
                                    BTA #10   Allentown, PA
                                    BTA #321  New York, NY

The I-80  corridor  includes  BTA #117 - Du  Bois-Clearfield  PA, BTA #328 - Oil
City-Franklin  PA, BTA #416 - Sharon PA, BTA #429 - State College PA, BTA #437 -
Sunbury-Shamokin  PA,  and BTA #475 -  Williamsport  PA. The  coverage  area for
Horizon's I-80 corridor will extend from the I-79  interchange in the Sharon BTA
along Interstate 80 east to I-81 interchange in the Pottsville BTA including the
cities of Du Bois, Clearfield,  State College,  Williamsport,  Shamokin, Sunbury
and nearby smaller  communities and the primary highways  (including I-180) that
connect them to I-80 as depicted on the Exhibit 2.1 map.

The I-86 corridor  includes BTA #215 - Jamestown NY and BTA #330 - Olean NY. The
coverage  area for  Horizon's  I-86 corridor will extend along I-86 (State Route
17) from  Interstate 90 east to eastern  boundary of the Olean BTA including the
cities of Jamestown,  Salamanca and Olean. Coverage will also extend along US 62
from Jamestown south to Warren,  PA; along US 6 from I-79 east to Warren, PA and
along US 219 from Ellicotteville south to Bradford, PA.

The  coverage  area for  Horizon's  Northeastern  Pennsylvania  Cluster and I-79
corridor will be enhanced to extend coverage to neighboring  smaller communities
and connecting highways as depicted in the Exhibit 2.1 Map.

1368199v1<PAGE>

The attached form of agreement has been signed by the following executive
officers:

Samuel O. Franklin III
Charles T. Hill
George W Koehn
E. Jenner Wood, III
R. Charles Shufeldt
Donald S. Downing
Craig J. Kelly
Ray L. Sandhagen
Rodney K. Purnell, Jr.
Robert C. Lawson, Jr.
Thomas H. Yochum
Thomas G. Kuntz
John P. Hashagen
Daniel W. Mahurin
<PAGE>

                          CHANGE IN CONTROL AGREEMENT

          This Change in Control Agreement ("Agreement") is entered into by and
between SunTrust Banks, Inc., a Georgia corporation ("SunTrust"), and
___________ ____________________ (Executive").

          WHEREAS, Executive is employed by SunTrust or provides services
directly or indirectly to SunTrust as a senior executive of SunTrust or one, or
more than one, SunTrust Affiliate; and

          WHEREAS, the Board and the Compensation Committee have decided that
SunTrust should provide certain benefits to Executive in the event Executive's
employment is terminated without Cause or Executive resigns for Good Reason
following a Change in Control; and

          WHEREAS, this Agreement sets forth the benefits which the Board and
the Compensation Committee have decided SunTrust shall provide under such
circumstances and the terms and conditions under which the Board and the
Compensation Committee have decided that such benefits shall be provided;

          NOW, THEREFORE, in consideration of the mutual promises and agreements
contained in this Agreement and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, SunTrust and Executive
hereby agree as follows:

                                    (S) 1.

                                  Definitions
                                  -----------

          1.1  Board.  The term "Board" for purposes of this Agreement shall
               -----
mean the Board of Directors of SunTrust.

          1.2  Cause.  The term "Cause" for purposes of this Agreement shall
               -----
(subject to (S) 1.2(e)) mean:

               (a)  The willful and continued failure by Executive to perform
          satisfactorily the duties of Executive's job;

               (b)  Executive is convicted of a felony or has engaged in a
          dishonest act, misappropriation of funds, embezzlement, criminal
          conduct or common law fraud;

               (c)  Executive has engaged in a material violation of the
          SunTrust Code of Conduct; or
<PAGE>

               (d)  Executive has engaged in any willful act that materially
          damages or materially prejudices SunTrust or a SunTrust Affiliate or
          has engaged in conduct or activities materially damaging to the
          property, business or reputation of SunTrust or a SunTrust Affiliate;
          provided, however,

               (e)  No such act, omission or event shall be treated as "Cause"
          under this Agreement unless (i) Executive has been provided a
          detailed, written statement of the basis for SunTrust's belief that
          such act, omission or event constitutes "Cause" and an opportunity to
          meet with the Compensation Committee (together with Executive's
          counsel if Executive chooses to have Executive's counsel present at
          such meeting) after Executive has had a reasonable period in which to
          review such statement and, if the allegation is under (S) 1.2(a), has
          had at least a thirty (30) day period to take corrective action and
          (ii) the Compensation Committee after such meeting (if Executive meets
          with the Compensation Committee) and after the end of such thirty (30)
          day correction period (if applicable) determines reasonably and in
          good faith and by the affirmative vote of at least two thirds of the
          members of the Compensation Committee then in office at a meeting
          called and held for such purpose that "Cause" does exist under this
          Agreement.

     1.3  Change in Control.  The term "Change in Control" for purposes of this
          -----------------
Agreement shall mean a change in control of SunTrust of a nature that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A promulgated under the Exchange Act as in effect at the time of such "change
in control", provided that such a change in control shall be deemed to have
occurred at such time as (i) any "person" (as that term is used in Sections
13(d) and 14(d)(2) of the Exchange Act), is or becomes the beneficial owner (as
defined in Rule 13d-3 under the Exchange Act) directly or indirectly, of
securities representing 20% or more of the combined voting power for election of
directors of the then outstanding securities of SunTrust or any successor of
SunTrust; (ii) during any period of two consecutive years or less, individuals
who at the beginning of such period constitute the Board cease, for any reason,
to constitute at least a majority of the Board, unless the election or
nomination for election of each new director was approved by a vote of at least
two-thirds of the directors then still in office who were directors at the
beginning of the period; (iii) the shareholders of SunTrust approve any
reorganization, merger, consolidation or share exchange as a result of which the
common stock of SunTrust shall be changed, converted or exchanged into or for
securities of another corporation (other than a merger with a wholly-owned
subsidiary of SunTrust) or any dissolution or liquidation of SunTrust or any
sale or the disposition of 50% or more of the assets or business of SunTrust; or
(iv) the shareholders of SunTrust approve any reorganization, merger,
consolidation or share exchange unless (A) the persons who were the beneficial
owners of the outstanding shares of the common stock of SunTrust immediately
before the consummation of such transaction beneficially own more than 65% of
the outstanding shares of the common stock of the successor or survivor
corporation in such transaction

                                      -2-
<PAGE>

immediately following the consummation of such transaction and (B) the number of
shares of the common stock of such successor or survivor corporation
beneficially owned by the persons described in (S) 1.3(iv)(A) immediately
following the consummation of such transaction is beneficially owned by each
such person in substantially the same proportion that each such person had
beneficially owned shares of SunTrust common stock immediately before the
consummation of such transaction, provided (C) the percentage described in (S)
1.3(iv)(A) of the beneficially owned shares of the successor or survivor
corporation and the number described in (S) 1.3(iv)(B) of the beneficially owned
shares of the successor or survivor corporation shall be determined exclusively
by reference to the shares of the successor or survivor corporation which result
from the beneficial ownership of shares of common stock of SunTrust by the
persons described in (S) 1.3(iv)(A) immediately before the consummation of such
transaction.

          1.4  Change in Control Date.  The term "Change in Control Date" for
               ----------------------
purposes of this Agreement shall mean the date which includes the "closing" of
the transaction which results from a Change in Control or, if there is no
transaction which results from a Change in Control, the date such Change in
Control is reported by SunTrust to the Securities and Exchange Commission.

          1.5  Code.  The term "Code" for purposes of this Agreement shall mean
               ----
the Internal Revenue Code of 1986, as amended.

          1.6  Compensation Committee.  The term "Compensation Committee" for
               ----------------------
purposes of this Agreement shall mean the Compensation Committee of the Board.

          1.7  Confidential or Proprietary Information.  The term "Confidential
               ---------------------------------------
or Proprietary Information" for purposes of this Agreement shall mean any
secret, confidential, or proprietary information of SunTrust or a SunTrust
Affiliate (not otherwise included in the definition of Trade Secret in (S) 1.23
of this Agreement) that has not become generally available to the public by the
act of one who has the right to disclose such information without violating any
right of SunTrust or a SunTrust Affiliate.

          1.8  Current Compensation Package.  The term "Current Compensation
               ----------------------------
Package" for purposes of (S) 3(a)(2)(A) of this Agreement shall mean the sum of
the following:

               (a)  Executive's highest annual base salary from SunTrust and any
          SunTrust Affiliate which (but for any salary deferral election) is in
          effect at any time during the 1 year period which ends on the date
          Executive's employment with SunTrust or a SunTrust Affiliate
          terminates under the circumstances described in (S) 3(a) or (S) 3(f);

               (b)  The greater of (i) Executive's target annual MIP bonus for
          the calendar year in which Executive's employment with SunTrust or a
          SunTrust Affiliate terminates under the circumstances described in (S)
          3(a) or (S) 3(f) or (ii) the greater of (A) the average of the annual
          MIP bonus

                                      -3-
<PAGE>

          which was paid to Executive (or, if greater, which would have been
          paid to Executive but for any bonus deferral election) for the 3 full
          calendar years in which Executive has participated in the MIP (or, if
          less, the number of full calendar years in which Executive has
          participated in the MIP) which immediately precedes the calendar year
          in which Executive's employment so terminates or, if Executive was not
          eligible to participate in the MIP in the calendar year which
          immediately precedes the calendar year in which Executive's employment
          so terminates, (B) the greater of (1) the average MIP bonus described
          in (S)1.8(b)(ii)(A) or (2) the last MIP bonus which was paid to
          Executive (or, if greater, which would have been paid to Executive but
          for any bonus deferral election); and

                (c) (i) The average of the PUP bonus which was paid to Executive
          (or, if greater, which would have been paid to Executive but for any
          bonus deferral election) for the 3 full performance cycles in which
          Executive has participated in the PUP (or, if less, for the number of
          full performance cycles in which Executive has participated in the
          PUP) which immediately precede the performance cycle which ends in the
          calendar year in which Executive's employment with SunTrust or a
          SunTrust Affiliate terminates under the circumstances described in (S)
          3(a) or (S) 3(f) or, if Executive was not eligible to participate in
          the PUP for the performance cycle which ends in the calendar year in
          which Executive's employment so terminates or if there is no such
          cycle, (ii) the average PUP bonus described in (S)1.8(c)(i) or the
          last PUP bonus which was paid to Executive (or, if greater, which
          would have been paid to Executive but for any bonus deferral
          election), whichever is greater.

          1.9   Disability Termination.  The term "Disability Termination" for
                ----------------------
purposes of this Agreement shall mean a termination of Executive's employment on
or after the date Executive has a right immediately upon such termination to
receive disability income benefits under SunTrust's long term disability plan or
any successor to or replacement for such plan.

          1.10  Exchange Act.  The term "Exchange Act" for purposes of this
                ------------
Agreement shall mean the Securities Exchange Act of 1934, as amended.

          1.11. Financial Services Business.  The term "Financial Services
                ---------------------------
Business" for purposes of this Agreement shall mean the business of banking,
including deposit, credit, trust and investment services, mortgage banking,
commercial and auto leasing, insurance, asset management, brokerage and
investment banking services.

          1.12  Good Reason.  The term "Good Reason" for purposes of this
                -----------
Agreement shall (subject to (S) 1.12(e)) mean:

                (a) SunTrust or any SunTrust Affiliate after a Change in Control
          but before the end of Executive's Protection Period reduces
          Executive's

                                      -4-
<PAGE>

          base salary or opportunity to receive comparable incentive
          compensation or bonuses without Executive's express written consent;

               (b)  SunTrust or any SunTrust Affiliate after a Change in Control
          but before the end of Executive's Protection Period reduces the scope
          of Executive's principal or primary duties, responsibilities or
          authority without Executive's express written consent;

               (c)  SunTrust or any SunTrust Affiliate at any time after a
          Change in Control but before the end of Executive's Protection Period
          (without Executive's express written consent) transfers Executive's
          primary work site from Executive's primary work site on the date of
          such Change in Control or, if Executive subsequently consents in
          writing to such a transfer under this Agreement, from the primary work
          site which was the subject of such consent, to a new primary work site
          which is outside the "standard metropolitan statistical area" which
          then includes Executive's then current primary work site unless such
          new primary work site is closer to Executive's primary residence than
          Executive's then current primary work site; or

               (d)  SunTrust or any SunTrust Affiliate after a Change in Control
          but before the end of Executive's Protection Period fails (without
          Executive's express written consent) to continue to provide to
          Executive health and welfare benefits, deferred compensation and
          retirement benefits, stock option and restricted stock grants that are
          in the aggregate comparable to those provided to Executive immediately
          prior to the Change in Control Date; provided, however,

               (e)  No such act or omission shall be treated as "Good Reason"
          under this Agreement unless

                    (i)  (A)  Executive delivers to the Compensation Committee a
               detailed, written statement of the basis for Executive's belief
               that such act or omission constitutes Good Reason, (B) Executive
               delivers such statement before the later of (1) the end of the
               ninety (90) day period which starts on the date there is an act
               or omission which forms the basis for Executive's belief that
               Good Reason exists or (2) the end of the period mutually agreed
               upon for purposes of this (S) 1.12(e)(i)(B) in writing by
               Executive and the Chairman of the Compensation Committee, (C)
               Executive gives the Compensation Committee a thirty (30) day
               period after the delivery of such statement to cure the basis for
               such belief and (D) Executive actually submits Executive's
               written resignation to the Compensation Committee during the
               sixty (60) day period which begins immediately after the end of
               such thirty (30) day period if Executive reasonably and in good
               faith determines that Good

                                      -5-
<PAGE>

                Reason continues to exist after the end of such thirty (30) day
                period, or

                     (ii)  SunTrust states in writing to Executive that
                Executive has the right to treat such act or omission as Good
                Reason under this Agreement and Executive resigns during the
                sixty (60) day period which starts on the date such statement is
                actually delivered to Executive;

                (f)  If (i) Executive gives the Compensation Committee the
          statement described in (S) 1.12(e)(i) before the end of the thirty
          (30) day period which immediately follows the end of the Protection
          Period and Executive thereafter resigns within the period described in
          (S) 1.12(e)(i) or (ii) SunTrust provides the statement to Executive
          described in (S) 1.12(e)(ii) before the end of the thirty (30) day
          period which immediately follows the end of the Protection Period and
          Executive thereafter resigns within the period described in (S)
          1.12(e)(ii), then (iii) such resignation shall be treated under this
          Agreement as if made in Executive's Protection Period; and

                (g)  If Executive consents in writing to any reduction described
          in (S) 1.12(a) or (S) 1.12(b), to any transfer described in (S)
          1.12(c) or to any failure described in (S) 1.12(d) in lieu of
          exercising Executive's right to resign for Good Reason and delivers
          such consent to SunTrust, the date such consent is delivered to
          SunTrust thereafter shall be treated under this definition as the date
          of a Change in Control for purposes of determining whether Executive
          subsequently has Good Reason under this Agreement to resign under (S)
          3(a) or (S) 3(f) as a result of any subsequent reduction described in
          (S) 1.12(a) or (S) 1.12(b), any subsequent transfer described in (S)
          1.12(c) or any subsequent failure described in (S) 1.12(d).

          1.13  Gross Up Payment.  The term "Gross Up Payment" for purposes of
                ----------------
this Agreement shall mean a payment to or on behalf of Executive which shall be
sufficient to pay (i) any excise tax described in (S) 9 in full, (ii) any
federal, state and local income tax and social security and other employment tax
on the payment made to pay such excise tax as well as any additional taxes on
such payment and (iii) any interest or penalties assessed by the Internal
Revenue Service on Executive which are related to the payment of such excise tax
unless such interest or penalties are attributable to Executive's willful
misconduct or negligence.

          1.14  Managerial Responsibilities.  The term "Managerial
                ---------------------------
Responsibilities" for purposes of this Agreement shall mean managerial and
supervisory responsibilities and duties that are substantially the same as those
Executive is performing for SunTrust or a SunTrust Affiliate on the date of this
Agreement.

          1.15  MIP.  The term "MIP" for purposes of this Agreement shall mean
                ---
the SunTrust Banks, Inc. Management Incentive Plan or, if there is any material
change

                                      -6-
<PAGE>

in the terms, operation or administration of such plan following a Change in
Control, any successor to such plan in which Executive is eligible to
participate and which provides an opportunity for a bonus for Executive which is
comparable to the opportunity which Executive had under such plan before such
Change in Control or, if Executive reasonably determines that there is no such
plan in which Executive is eligible to participate but SunTrust or a parent
corporation maintains a short term bonus plan for the benefit of senior
executives which provides for such an opportunity, such other plan as agreed to
by Executive and the Compensation Committee.

          1.16  Protection Period.  The term "Protection Period" for purposes of
                -----------------
this Agreement shall (subject to (S) 1.12(f)) mean the two (2) year period which
begins on a Change in Control Date.

          1.17  PUP.  The term "PUP" for purposes of this Agreement shall mean
                ---
the SunTrust Banks, Inc. Performance Unit Plan or, if there is any material
change in the terms, operation or administration of such plan following a Change
in Control, any successor to such plan in which Executive is eligible to
participate and which provides an opportunity for a bonus for Executive which is
comparable to the opportunity which Executive had under such plan before such
Change in Control or, if Executive reasonably determines that there is no such
plan in which Executive is eligible to participate but SunTrust or a parent
corporation maintains a long term bonus plan for the benefit of senior
executives which provides for such an opportunity, such other plan as agreed to
by Executive and the Compensation Committee.

          1.18  Restricted Period.  The term "Restricted Period" for purposes of
                -----------------
this Agreement shall mean the period which starts on the date Executive's
employment by SunTrust or a SunTrust Affiliate terminates under circumstances
which require SunTrust to make the payments and provide the benefits described
in (S) 3 and which ends on the earlier of (a)(i) the first anniversary of such
termination date for purposes of (S) 5 and (ii) the second anniversary of such
termination date for all other purposes under this Agreement, or (b) on the
first date following such a termination on which SunTrust either breaches any
obligation to Executive under (S) 3 or no longer has any obligation to Executive
under (S) 3.

          1.19  SunTrust.  The term "SunTrust" for purposes of this Agreement
                --------
shall mean SunTrust Banks, Inc. and any successor to SunTrust.

          1.20  SunTrust Affiliate.  The term "SunTrust Affiliate" for purposes
                ------------------
of this Agreement shall mean any corporation which is a subsidiary corporation
(within the meaning of (S) 424(f) of the Code) of SunTrust except a corporation
which has subsidiary corporation status under (S) 424(f) of the Code exclusively
as a result of SunTrust or a SunTrust Affiliate holding stock in such
corporation as a fiduciary with respect to any trust, estate, conservatorship,
guardianship or agency.

          1.21  Term.  The term "Term" for purposes of this Agreement shall mean
                ----
the period described in (S) 2(b).

                                      -7-
<PAGE>

          1.22  Territory.  The term "Territory" for purposes of this Agreement
                ---------
shall mean the state of Tennessee.

          1.23  Trade Secret.  The term "Trade Secret" for purposes of this
                ------------
Agreement shall mean information, including, but not limited to, technical or
nontechnical data, a formula, a pattern, a compilation, a program, a device, a
method, a technique, a drawing, a process, financial data, financial plans,
product plans, or a list of actual or potential customers or suppliers that:

                (a) derives economic value, actual or potential, from not being
          generally known to, and not being readily ascertainable by proper
          means by, other persons who can obtain economic value from its
          disclosure or use, and

                (b) is the subject of reasonable efforts by SunTrust or a
          SunTrust Affiliate to maintain its secrecy.

                                    (S) 2.

                            Effective Date and Term
                            -----------------------

                (a) Effective Date.  This Agreement shall be effective on the
                    --------------
          earlier of the date that

                    (1)  SunTrust no longer can participate in any transaction
                which can be accounted for on the "pooling of interests" method
                under the requirements of Accounting Principles Board Opinion
                No. 16, Business Combinations without regard to whether this
                Agreement is effective on such date,

                    (2)  a Change in Control cannot be accounted for on such
                "pooling of interests" method without regard to the date this
                Agreement becomes effective, or

                    (3)  a Change in Control can be accounted for on such
                "pooling of interests" method without regard to whether this
                Agreement is effective on the date of such Change in Control;

          provided, this Agreement shall be effective at the end of the six (6)
          month period which starts on the date of this Agreement (even if
          neither (S) 2(1), (S) 2(2) nor (S) 2(3) is applicable) if SunTrust has
          not entered into a letter of intent or other written agreement to
          effect a Change in Control before the end of such period.

                                      -8-
<PAGE>

               (b)  Term.
                    ----

                    (1)  The Term of this Agreement shall be the period which
               starts on the date on which this Agreement becomes effective
               under (S) 2(a) and ends (subject to (S) 2(b)(2) and (S) 2(b)(3))
               on the third anniversary of such effective date.

                    (2)  The Term of this Agreement shall automatically be
               extended for one additional year effective as of the first
               anniversary of the date on which this Agreement becomes effective
               under (S) 2(a) and one additional year effective as of each such
               anniversary date thereafter unless either Executive or SunTrust
               delivers to the other person notice to the effect that there will
               be no such one year extension before the beginning of the 90 day
               period which ends on the anniversary date on which such automatic
               one year extension otherwise would have been effective.

                    (3)  (A)  If Executive's Protection Period starts before the
               Term of this Agreement (as extended, if applicable, under (S)
               2(b)(2)) expires, the then Term of this Agreement shall
               automatically be extended until the expiration of such Protection
               Period.

                         (B)  If Executive's employment terminates during
               Executive's Protection Period under the circumstances described
               in (S) 3(a) or if Executive's employment terminates under the
               circumstances described in (S) 3(f) before the Term of this
               Agreement (as extended, if applicable, under (S) 2(b)(2))
               expires, the then Term of this Agreement shall automatically be
               extended until the earlier of (1) the date Executive agrees that
               all SunTrust's obligations to Executive under this Agreement have
               been satisfied in full or (B) the date a final determination is
               made pursuant to (S) 8 that SunTrust has no further obligations
               to Executive under this Agreement.

                                    (S) 3.

                           Compensation and Benefits
                           -------------------------

               (a)  General.  If a Change in Control occurs during the Term of
                    -------
          this Agreement and

                    (1)  SunTrust or a SunTrust Affiliate terminates Executive's
               employment without Cause during Executive's Protection Period or

                                      -9-
<PAGE>

                    (2)  Executive resigns for Good Reason during Executive's
               Protection Period, then:

                         (A) Cash Payment.  SunTrust shall pay Executive two (2)
                             ------------
                    times Executive's Current Compensation Package in cash in a
                    lump sum within 30 days after the date Executive's
                    employment so terminates.

                         (B) Stock Options.  Each outstanding stock option
                             -------------
                    granted to Executive by SunTrust shall (subject to (S)
                    3(a)(2)(G)) immediately become fully vested and exercisable
                    on the date Executive's employment so terminates and
                    Executive shall be deemed to continue to be employed by
                    SunTrust for the period described in (S) 3(d) for purposes
                    of determining when Executive's right to exercise each such
                    option expires notwithstanding the terms of any plan or
                    agreement under which such option was granted.

                         (C) Restricted Stock.  Any restrictions on any
                             ----------------
                    outstanding restricted or performance stock grants to
                    Executive by SunTrust shall (subject to (S) 3(a)(2)(G))
                    immediately expire and Executive's right to such stock shall
                    be non-forfeitable notwithstanding the terms of any plan or
                    agreement under which such grants were made.

                         (D) Earned but Unpaid Salary, Bonus and Vacation.
                             --------------------------------------------
                    SunTrust shall promptly pay Executive any earned but unpaid
                    base salary and bonus, shall promptly pay Executive for any
                    earned but untaken vacation and shall promptly reimburse
                    Executive for any incurred but unreimbursed expenses which
                    are otherwise reimbursable under SunTrust's expense
                    reimbursement policy as in effect for senior executives
                    immediately before Executive's employment so terminates.

                         (E) MIP.  SunTrust shall pay Executive within 30 days
                             ---
                    after Executive's employment terminates a portion of
                    Executive's target bonus or, if greater, Executive's
                    projected bonus under the MIP for the calendar year in which
                    Executive's employment terminates, where (1) Executive's
                    projected bonus shall be no less than the bonus which would
                    have been projected under the projection procedures in
                    effect under the MIP on the date of the Change in Control
                    and (2) such portion shall be determined by multiplying such
                    target bonus or, if greater, such projected bonus by a
                    fraction, the numerator of which shall be the number of days

                                      -10-
<PAGE>

                    Executive is employed in such calendar year and the
                    denominator of which shall be the number of days in such
                    calendar year.

                         (F) PUP.  SunTrust shall pay Executive within 30 days
                             ---
                    after Executive's employment terminates a portion of
                    Executive's target bonus or, if greater, Executive's
                    projected bonus under the PUP for each performance cycle in
                    effect on the date Executive's employment terminates, where
                    (1) Executive's projected bonus shall be no less than the
                    bonus which would have been projected under the projection
                    procedures in effect under the PUP on the date of the Change
                    in Control and (2) such portion shall be determined by
                    multiplying such target bonus or, if greater, such projected
                    bonus by a fraction, the numerator of which shall be the
                    number of days Executive is employed in each such
                    performance cycle and the denominator of which shall be the
                    number of days in each such performance cycle.

                         (G) Pooling.  The provisions of (S) 3(a)(2)(B) and (S)
                             -------
                    3(a)(2)(C) shall be effective on the earlier of (1) the date
                    that SunTrust no longer can participate in any transaction
                    which can be accounted for on the "pooling of interests"
                    method under the requirements of Accounting Principles Board
                    Opinion No. 16, Business Combinations without regard to
                    whether these provisions are effective on such date, (2) the
                    date there is a Change in Control which can not be accounted
                    for on such "pooling of interests" method without regard to
                    the date these provisions become effective or (3) the date
                    there is a Change in Control which can be accounted for on
                    such "pooling of interests" method without regard to whether
                    these provisions are effective on the date of such Change in
                    Control; provided, these provisions shall be effective at
                    the end of the two (2) year period which starts on the date
                    of this Agreement (even if neither (S) 3(a)(2)(G)(1), (S)
                    3(a)(2)(G)(2) nor (S) 3(a)(2)(G)(3) is applicable) if
                    SunTrust has not entered into a letter of intent or other
                    written agreement to effect a Change in Control before the
                    end of such period.

               (b)  Continuing Benefit Coverage.  If Executive's employment
                    ---------------------------
          terminates under the circumstances described in (S) 3(a) or (S) 3(f),
          SunTrust or a SunTrust Affiliate from the date of such termination of
          Executive's employment until the end of Executive's Protection Period
          shall provide to Executive medical, dental and life insurance benefits
          which are similar in all material respects as those benefits provided
          under SunTrust's

                                      -11-
<PAGE>

          employee benefit plans, policies and programs to senior executives of
          SunTrust who have not terminated their employment. If SunTrust cannot
          provide such benefits under SunTrust's employee benefit plans,
          policies and programs, SunTrust either shall provide such benefits to
          Executive outside such plans, policies and programs at no additional
          expense or tax liability to Executive or shall reimburse Executive for
          Executive's cost to purchase such benefits and for any tax liability
          for such reimbursements.

               (c)  No Interference with Vested Benefits.  If Executive's
                    ------------------------------------
          employment terminates under the circumstances described in (S) 3(a) or
          (S) 3(f), Executive shall have a right to any benefits under any
          employee benefit plan, policy or program maintained by SunTrust or any
          SunTrust Affiliate (other than the MIP, the PUP and the SunTrust
          Severance Pay Plan) which Executive had a right to receive under the
          terms of such employee benefit plan, policy or program after a
          termination of Executive's employment without regard to this
          Agreement.

               (d)  Additional Age and Service Credit.  If Executive's
                    ---------------------------------
          employment terminates under the circumstances described in (S) 3(a) or
          (S) 3(f), Executive shall be deemed to have been employed by SunTrust
          throughout Executive's Protection Period for purposes of computing
          Executive's age and service credit on the date Executive's employment
          so terminates under any deferred compensation or welfare plan, policy
          or program (except a plan described in (S) 401 of the Code) maintained
          by SunTrust or a SunTrust Affiliate in which Executive is a
          participant and under which Executive's benefit, or eligibility for a
          benefit, is based in whole or in part on Executive's age or service or
          age and service, and Executive shall receive such age and service
          credit notwithstanding the terms of any such plan, policy or program.

               (e)  No Increase in Other Benefits; No Other Severance Pay.  If
                    -----------------------------------------------------
          Executive's employment terminates under the circumstances described in
          (S) 3(a) or (S) 3(f), Executive waives Executive's right, if any, to
          have any payment made under this (S) 3 taken into account to increase
          the benefits otherwise payable to, or on behalf of, Executive under
          any employee benefit plan, policy or program, whether qualified or
          nonqualified, maintained by SunTrust or a SunTrust Affiliate and,
          further, waives Executive's right, if any, to the payment of severance
          pay under any severance pay plan, policy or program maintained by
          SunTrust or a SunTrust Affiliate subject to the condition that
          SunTrust not be relieved of any of its obligations to Executive under
          this (S) 3 pursuant to (S) 3(g) or (S) 3(h).

               (f)  Termination in Anticipation of Change in Control Date.
                    -----------------------------------------------------
          Executive shall be treated under (S) 3(a) as if Executive's employment
          had been terminated without Cause or Executive had resigned for Good

                                      -12-
<PAGE>

          Reason during Executive's Protection Period if (1)(A) Executive's
          employment is terminated by SunTrust or a SunTrust Affiliate without
          Cause after a Change in Control but before the Change in Control Date
          which results from such Change in Control or (B) Executive resigns for
          Good Reason after a Change in Control but before the Change in Control
          Date which results from such Change in Control, (2) such Change in
          Control occurs on or after the date this Agreement becomes effective
          under (S) 2 and (3) there is a Change in Control Date which results
          from such Change in Control.

               (g)  Death or Disability.  Executive agrees that SunTrust will
                    -------------------
          have no obligations to Executive under this (S) 3 if Executive's
          employment terminates exclusively as a result of Executive's death or
          Executive has a Disability Termination.

               (h)  Release.  Executive agrees that SunTrust will have no
                    -------
          obligations to Executive under this (S) 3 until Executive executes the
          form of release which is attached as Exhibit A to this Agreement and,
          further, will have no further obligations to Executive under this (S)
          3 if Executive revokes such release.

                                     (S) 4

                                Noncompetition
                                --------------

               (a)  No Competitive Activity.  Absent the Compensation
                    -----------------------
          Committee's written consent, Executive shall not, during the
          Restricted Period and within the Territory, engage in any Managerial
          Responsibilities, for or on behalf of, any corporation, partnership,
          venture, or other business entity that engages directly or indirectly
          in the Financial Services Business whether as an owner, partner,
          employee, agent, consultant, advisor, contractor, salesman,
          stockholder, investor, officer or director; provided, however,
          Executive may own up to five percent (5%) of the stock of a publicly
          traded company that engages in the Financial Services Business so long
          as Executive is only a passive investor and is not actively involved
          in such company in any way.

               (b)  No Solicitation of Customers or Clients.  Executive shall
                    ---------------------------------------
          not during the Restricted Period solicit any customer or client of
          SunTrust or any SunTrust Affiliate with whom Executive had any
          material business contact during the two (2) year period which ends on
          the date Executive's employment by SunTrust or a SunTrust Affiliate
          terminates for the purpose of competing with SunTrust or any SunTrust
          Affiliate for any reason, either individually, or as an owner,
          partner, employee, agent, consultant, advisor, contractor, salesman,
          stockholder, investor, officer or director of, or

                                      -13-
<PAGE>

          service provider to, any corporation, partnership, venture or other
          business entity.

                                    (S) 5.

                           Antipirating of Employees
                           -------------------------

          Absent the Compensation Committee's written consent, Executive will
not during the Restricted Period solicit to employ on Executive's own behalf or
on behalf of any other person, firm or corporation, any person who was employed
by SunTrust or a SunTrust Affiliate during the term of Executive's employment by
SunTrust or a SunTrust Affiliate (whether or not such employee would commit a
breach of contract), and who has not ceased to be employed by SunTrust or a
SunTrust Affiliate for a period of at least one (1) year.

                                    (S) 6.

                  Trade Secrets and Confidential Information
                  ------------------------------------------

          Executive hereby agrees that Executive will hold in a fiduciary
capacity for the benefit of SunTrust and each SunTrust Affiliate, and will not
directly or indirectly use or disclose, any Trade Secret that Executive may have
acquired during the term of Executive's employment by SunTrust or a SunTrust
Affiliate for so long as such information remains a Trade Secret.

          Executive in addition agrees that during the Restricted Period
Executive will hold in a fiduciary capacity for the benefit of SunTrust and each
SunTrust Affiliate, and will not directly or indirectly use or disclose, any
Confidential or Proprietary Information that Executive may have acquired
(whether or not developed or compiled by Executive and whether or not Executive
was authorized to have access to such information) during the term of, in the
course of, or as a result of Executive's employment by SunTrust or a SunTrust
Affiliate.

                                    (S) 7.

          Reasonable and Necessary Restrictions and Non-Disparagement
          -----------------------------------------------------------

          Executive acknowledges that the restrictions, prohibitions and other
provisions set forth in this Agreement, including without limitation the
Territory and Restricted Period, are reasonable, fair and equitable in scope,
terms and duration; are necessary to protect the legitimate business interests
of SunTrust; and are a material inducement to SunTrust to enter into this
Agreement.  Executive covenants that Executive will not challenge the
enforceability of this Agreement nor will Executive raise any equitable defense
to its enforcement.  Further, Executive and SunTrust each agree not to knowingly
make false or materially misleading statements or disparaging comments about the
other during the Restricted Period.

                                      -14-
<PAGE>

                                    (S) 8.

                                  Arbitration
                                  -----------

          Any dispute, controversy or claim arising out of or relating to this
Agreement shall be determined by binding arbitration in accordance with Title 9
of the United States Code and the applicable set of arbitration rules of the
American Arbitration Association.  Judgment upon any award made in such
arbitration may be entered and enforced in any court of competent jurisdiction.
All statutes of limitation which would otherwise be applicable in a judicial
action brought by a party shall apply to any arbitration or reference proceeding
hereunder.  Neither SunTrust nor Executive shall appeal such award to or seek
review, modification, or vacation of such award in any court or regulatory
agency.  Unless otherwise agreed, venue for arbitration shall be in Atlanta,
Georgia.  All of Executive's reasonable costs and expenses incurred in
connection with such arbitration shall be paid in full by SunTrust promptly on
written demand from Executive, including the arbitrators' fees, administrative
fees, travel expenses, out-of-pocket expenses such as copying and telephone,
court costs, witness fees and attorneys' fees; provided, however, SunTrust shall
pay no more than $30,000 in attorneys' fees unless a higher figure is awarded in
the arbitration, in which event SunTrust shall pay the figure awarded in the
arbitration.

                                    (S) 9.

                                Tax Protection
                                --------------

          If SunTrust or SunTrust's independent accountants determine that any
payments and benefits called for under this Agreement together with any other
payments and benefits made available to Executive by SunTrust or a SunTrust
Affiliate will result in Executive being subject to an excise tax under (S) 4999
of the Code or if such an excise tax is assessed against Executive as a result
of any such payments and other benefits, SunTrust shall make a Gross Up Payment
to or on behalf of Executive as and when any such determination or assessment is
made, provided Executive takes such action (other than waiving Executive's right
to any payments or benefits) as SunTrust reasonably requests under the
circumstances to mitigate or challenge such tax.  Any determination under this
(S) 9 by SunTrust or SunTrust's independent accountants shall be made in
accordance with (S) 280G of the Code and any applicable related regulations
(whether proposed, temporary or final) and any related Internal Revenue Service
rulings and any related case law and, if SunTrust reasonably requests that
Executive take action to mitigate or challenge, or to mitigate and challenge,
any such tax or assessment (other than waiving Executive's right to any payment
or benefit) and Executive complies with such request, SunTrust shall provide
Executive with such information and such expert advice and assistance from
SunTrust's independent accountants, lawyers and other advisors as Executive may
reasonably request and

                                      -15-
<PAGE>

shall pay for all expenses incurred in effecting such compliance and any related
fines, penalties, interest and other assessments.

                                    (S) 10.

                           Miscellaneous Provisions
                           ------------------------

          10.1  Assignment.  This Agreement is for the personal services of
                ----------
Executive, and the rights and obligations of Executive under this Agreement are
not assignable in whole or in part by Executive without the prior written
consent of SunTrust.  This Agreement is assignable in whole or in part to any
successor to SunTrust.  However, if SunTrust as part of any Change in Control
transaction fails to assign SunTrust's obligations under this Agreement to
SunTrust's successor or such successor fails to expressly agree to such
assignment on or before the Change in Control Date, SunTrust on the Change in
Control Date shall (without any further action on the part of Executive) take
the action called for in (S) 3 of this Agreement as if Executive had been
terminated without Cause without regard to whether Executive's employment
actually has terminated.

          10.2  Governing Law.  This Agreement will be governed by and construed
                -------------
under the laws of the State of Georgia (without reference to the choice of law
principles thereof), except to the extent superseded by federal law.

          10.3  Counterparts.  This Agreement may be executed in counterparts,
                ------------
each of which will be deemed an original, but all of which together will
constitute one and the same instrument.

          10.4  Headings; References.  The headings and captions used in this
                --------------------
Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement. Any reference to a section ((S))
shall be to a section ((S)) of this Agreement unless there is an express
reference to a section ((S)) of the Code or the Exchange Act, in which event the
reference shall be to the Code or to the Exchange Act, whichever is applicable.

          10.5  Amendments and Waivers.  Except as otherwise specified in this
                ----------------------
Agreement, this Agreement may be amended, and the observance of any term of this
Agreement may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of SunTrust and
Executive.

          10.6  Severability.  Any provision of this Agreement held to be
                ------------
unenforceable under applicable law will be enforced to the maximum extent
possible, and the balance of this Agreement will remain in full force and
effect.

          10.7  Entire Agreement.  This Agreement constitutes the entire
                ----------------
understanding and agreement of SunTrust and Executive with respect to the
matters

                                      -16-
<PAGE>

contemplated in this Agreement, and supersedes all prior understandings and
agreements between SunTrust and Executive with respect to such transactions.

          10.8  Notices.  Any notice required hereunder to be given by either
                -------
SunTrust or Executive will be in writing and will be deemed effectively given
upon personal delivery to the party to be notified or five (5) days after
deposit with the United States Post Office by registered or certified mail,
postage prepaid, to the other party at the address set forth below or to such
other address as either party may from time to time designate by ten (10) days
advance written notice pursuant to this (S) 10.8.  All such written
communication will be directed as follows:

                         If to SunTrust:

                         SunTrust Banks, Inc.
                         Attention:  Chief Executive Officer
                         303 Peachtree St., NE, 30/th/ Floor
                         Atlanta, GA 30308

If to Executive, to the most recent address Executive has provided to SunTrust
for inclusion in Executive's personnel records.

          10.9  Binding Effect.  This Agreement shall be for the benefit of, and
                --------------
shall be binding upon, SunTrust and Executive and their respective heirs,
personal representatives, legal representatives, successors and assigns,
subject, however, to the provisions in (S) 10.1 of this Agreement.

          10.10 Not an Employment Contract.  This Agreement is not an
                --------------------------
employment contract and shall not give Executive the right to continue in
employment by SunTrust or a SunTrust Affiliate for any period of time or from
time to time.  Moreover, this Agreement shall not adversely affect the right of
SunTrust or a SunTrust Affiliate to terminate Executive's employment with or
without cause at any time.

          IN WITNESS WHEREOF, SunTrust and Executive have entered into this
Agreement this ___ day of March, 2001, and such date shall be the date of this
Agreement.

SUNTRUST BANKS, INC.                          EXECUTIVE

By: /s/ Mary T. Steele
   ----------------------------------         ---------------------------------
   Mary T. Steele

Title: Senior Vice President and
       Human Resources Director

                                      -17-

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