Document:

Exhibit 10.B

   Exhibit
10.B

BB&T
CORPORATION

Nonqualified
Stock Option Agreement

          THIS
AGREEMENT dated as of ___________ __, 20__, between BB&T
Corporation, a North Carolina corporation (“BB&T”), for itself and
its Subsidiaries, and «First_Name» «Middle»
«Last_Name» «Name_Suffix» (the
“Participant”) is made pursuant and subject to the provisions of the
BB&T Corporation 1995 Omnibus Stock Incentive Plan, as amended (the
“Plan”), a copy of which is available to the Participant. All terms
that are defined in the Plan and not otherwise defined herein have the meanings
given them in the Plan. 

          BB&T
desires to carry out the purposes of the Plan by affording the Participant an
opportunity to purchase BB&T Common Stock, $5.00 par value per share, as
hereinafter provided. 

          In
consideration of the foregoing, of the mutual promises set forth below and of
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally bound, agree as
follows: 

	1.	 	
Grant of Option. Pursuant to the Plan, effective as of ___________ __, 20__
 (the “Date of Grant”), BB&T grants to the Participant, subject to the
terms and conditions of the Plan and subject further to the terms and conditions herein,
the right and option (the “Option”) to purchase from BB&T all or any part of
an aggregate of «Number_of_Options_» shares of BB&T Common Stock at
an Option Price of $_____ per share, being not less than the Fair Market Value per
share of BB&T Common Stock on the Date of Grant. This Option is designated as a
nonqualified stock option and, as such, is not intended to be an incentive stock option
under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”).
Such Option will be vested and exercisable as hereinafter provided.

	2.	 	
Terms and Conditions. The Option is subject to the following terms and conditions:

	 	(a)	
Expiration Date. The Option shall expire on ___________ __, 20__
(the “Expiration Date”).

		(b)	
Exercise of Option. Except as provided in paragraphs 3, 4, 5, 6, 7 and 9
and subject to the authority of the Committee to accelerate the exercisability
of this Option, this Option shall be vested and exercisable with respect to
twenty percent (20%) of the shares subject to the Option on the first
anniversary of the Date of Grant and with respect to an additional twenty
percent (20%) of the shares subject to the Option on each anniversary of the
Date of Grant over the following four years so that the Option shall be fully
vested and fully exercisable on the fifth anniversary of the Date of Grant. To
the extent the Option has become vested and exercisable in accordance with the
preceding sentence, it shall continue to be vested and exercisable until the
termination of the Participant’s rights hereunder pursuant to paragraphs 3,
4, 5, 6, 7 and 9, or until the Expiration Date. The Option may be exercised with
respect to any number of whole shares less than the full number for which the
Option could be exercised. A partial exercise of the Option shall not affect the
Participant’s right to exercise the Option with respect to the remaining
shares, subject to the conditions of the Plan and this Agreement. The Option may
not be exercised at any time unless the Participant shall have been in the
continuous employment of BB&T or one or more of its Subsidiaries from the
date hereof to the Date of Exercise of the Option, subject to the provisions of
paragraphs 3, 4, 5, 6, and 7.

10.B-1

		(c)	Method
of Exercising and Payment for Shares. The Option shall be  exercised by written notice
(the “Notice of Exercise”) accompanied by  payment of the Option price,
delivered to the attention of the Human Systems  Division at the office of BB&T
Corporation, P.O. Box 1215, 200 West Second  Street, Winston-Salem, North Carolina 27102,
or at such other location selected  by BB&T. The Date of Exercise shall be the date
the full payment of the  Option Price is received by BB&T. The Option Price may be
paid in cash or by  the surrender of shares of BB&T Common Stock with an aggregate
Fair Market  Value (determined as of the day preceding the Date of Exercise) which is not
less than the Option Price, or a combination of cash and BB&T Common Stock.  BB&T
shall deliver or cause to have delivered a certificate or certificates  representing such
shares of BB&T Common Stock as soon as practicable after  the Date of Exercise.

	     	The
certificate or certificates for the shares of BB&T Common Stock as to which the Option
shall have been so exercised shall be registered in the name of the person or persons
designated in the Notice of Exercise and shall be delivered as provided above to or upon
the written order of the person exercising the Option.

	 	In
the event that the Option shall be exercised pursuant to this paragraph 2 by any person
other than the Participant, the Notice of Exercise shall be accompanied by appropriate
proof of the right of such person to exercise the Option. The exercise of the Option and
the issuance of shares of BB&T Common Stock thereby shall be subject to compliance
with all applicable federal and state laws and regulations, including but not limited to
compliance with the requirements of the Securities Act of 1933, as amended (the  “Securities
Act”), and other applicable federal and state securities laws.

		(d)	Shareholder
Rights. The Participant shall not have any of the rights of a  shareholder with respect
to the shares of BB&T Common Stock covered by the  Option until a certificate or
certificates for the shares acquired upon Option  exercise have been issued to the
Participant following proper exercise of the  Option and full payment for the shares
covered thereby.

10.B-2

		(e)	Nontransferability;
Exercisability by Beneficiary. The Option shall not  be transferable (including by pledge
or hypothecation) other than by will or by  the laws of descent and distribution, except
as may be permitted by the  Committee in its sole discretion in a manner consistent with
the registration  provisions of the Securities Act. Except as may be permitted by the
preceding  sentence, during the Participant’s lifetime, the Option may be exercised
only by the Participant, and no right or interest of the Participant in this  Option
shall be liable for, or subject to, any lien, obligation or liability of  the
Participant. The designation of a beneficiary in accordance with procedures  established
by the Committee to exercise the Option upon the death of  Participant shall not
constitute a transfer.

	3.	 	
Termination of Employment. Except as provided in paragraphs 4, 5, 6, and 7, in the
event that the employment of the Participant with BB&T or its Subsidiaries is
terminated for any reason other than involuntary termination without just cause,
Retirement, death or Legal Disability, the participant may exercise the Option only with
respect to those shares of BB&T Common Stock as to which it has become vested and
exercisable pursuant to paragraph 2(b) as of the date of his termination. The Participant
may exercise the Option with respect to such shares no more than thirty (30) days after
the date of the Participant’s termination of employment (but in any event prior to
the Expiration Date).

	4.	 	
Involuntary Termination Without Just Cause. In the event that the
Participant’s employment with BB&T or its Subsidiaries is involuntarily
terminated by BB&T without just cause, the option shall become fully vested and fully
exercisable as of the date of his termination of employment without regard to the
installment exercise limitations set forth in paragraph 2(b). For purposes of this
Agreement, the involuntary termination of the Participant by BB&T shall be without
just cause unless the termination is on account of the Participant’s (a) dishonesty,
theft or embezzlement; (b) refusal or failure to perform his assigned duties for BB&T
or its Subsidiaries in a satisfactory manner; or (c) engaging in any conduct that could be
materially damaging to BB&T or its Subsidiaries without a reasonable good faith belief
that such conduct was in the best interest of BB&T or any of its Subsidiaries. The
determination of just cause shall be made by the Committee and its determination shall be
final and conclusive. The Participant may exercise the Option following an involuntary
termination without just cause until the Expiration Date.

	5.	 	
Exercise After Retirement. In the event that the Participant remains in the
continuous employ of BB&T or a Subsidiary from the Date of Grant until the
Participant’s Retirement (as determined by the Committee), the Option shall become
fully vested and fully exercisable as of the date of his Retirement without regard to the
installment exercise limitations set forth in paragraph 2(b). The Participant may exercise
the Option following his Retirement until the Expiration Date.

10.B-3

	6.	 	
Exercise in the Event of Death. In the event that the Participant remains in the
continuous employ of BB&T or a Subsidiary from the Date of Grant until his death, the
Option shall become fully vested and fully exercisable as of the date of death without
regard to the installment exercise limitations set forth in paragraph 2(b). The Option
shall be exercisable by such person or persons who are designated as the
Participant’s beneficiary in accordance with the terms of the Plan and this
Agreement, or, if no such valid beneficiary designation exists, then by the
Participant’s estate or by such person or persons as shall have acquired the right to
exercise the Option by will or the laws of descent and distribution. The person or persons
entitled to exercise the Option following the Participant’s death may exercise the
Option until the Expiration Date.

	7.	 	
Exercise in the Event of Legal Disability. In the event that the Participant
remains in the continuous employ of BB&T or a Subsidiary from the Date of Grant until
the date of his Legal Disability (as determined by the Committee), the Option shall become
fully vested and fully exercisable as of the date of his termination of employment on
account of his Legal Disability without regard to the installment exercise limitations set
forth in paragraph 2(b). The Participant may exercise the Option following such
termination of employment until the Expiration Date.

	8.	 	
Fractional Share. A fractional share shall not be issuable hereunder, and when any
provision hereof may entitle the Participant to a fractional share, such fraction shall be
disregarded.

	9.	 	
Change of Corporate Control.

		(a)	 Subject
to paragraphs 3, 4, 5, 6, and 7, and in the event that there is  “Change of Control,” as
defined in this paragraph 9, of BB&T  subsequent to the date hereof, the Option shall
(subject to the terms of  paragraph 9(c)) herein) become fully vested and fully
exercisable as of the  effective date of such event without regard to the installment
exercise  limitations set forth in paragraph 2(b).

		(b)	 For
purposes of this paragraph 9, a “Change of Control” will be deemed  to have
occurred if (i) any person or group of persons (as defined in Section  13(d) and 14(d) of
the Securities Exchange Act of 1934, as amended (the  “Exchange Act”)),
together with its affiliates, excluding employee  benefit plans of BB&T and its
affiliates, is or becomes, directly or  indirectly, the “beneficial owner” (as
defined in Rule 13d-3  promulgated under the Exchange Act) of securities of BB&T
representing  twenty percent (20%) or more of the combined voting power of BB&T’s
then outstanding securities; or (ii) during the term of this Option as a result  of a
tender offer or exchange offer for the purchase of securities of BB&T  (other than
such an offer by BB&T for its own securities), or as a result of  a proxy contest,
merger, consolidation or sale of assets, or as a result of any  combination of the
foregoing, individuals who at the beginning of any two-year  period during the term of
the Option constituted BB&T’s Board of  Directors, plus new directors whose
election or nomination for election of  BB&T’s shareholders is approved by a
vote of at least two-thirds of the  directors still in office who were directors at the
beginning of such two-year  period (collectively, the “Continuing Directors”),
cease for any  reason during such two-year period to constitute at least two-thirds of
the  members of such Board of Directors; or (iii) the shareholders of BB&T  approve a
merger or consolidation of BB&T with any other corporation or  entity regardless of
which entity is the survivor other than a merger or  consolidation which would result in
the voting securities of BB&T or such  surviving entity outstanding immediately prior
thereto continuing to represent  (either by remaining outstanding or being converted into
voting securities of  the surviving entity) at least sixty percent (60%) of the combined
voting power  of the voting securities of BB&T or such surviving entity outstanding
immediately after such merger or consolidation; or (iv) the shareholders of  BB&T
approve a plan of complete liquidation or winding-up of BB&T or an  agreement for the
sale or disposition by BB&T of all or substantially all of  BB&T’s assets;
or (v) any event occurs that BB&T’s Board of  Directors determines should
constitute a change of control.

10.B-4

		(c)	 Notwithstanding
paragraph 9(a) and paragraph 9(b) herein, the term “Change  of Control” shall
not include any event which the Board of Directors of  BB&T (or, if the event
described in paragraph 9(b)(ii) above has occurred, a  majority of the Continuing
Directors), prior to the occurrence of such event,  specifically determines, for the
purpose of the Plan and/or this Agreement, is a  “merger of equals” (regardless
of the form of the transaction), unless  such determination is revoked within one year
after the occurrence of the event  that otherwise would constitute a Change of Control by
a majority of the  directors of BB&T if BB&T is a surviving corporation, or by a
majority  of the directors of the surviving corporation if BB&T is not the surviving
corporation, who in either case were Continuing Directors immediately prior to  the
effective time of such event or were elected or nominated for election as  directors of
the surviving corporation by a vote of at least two-thirds of the  directors who were
Continuing Directors immediately prior to such effective  time. Any determination
concerning whether a transaction is a “merger of  equals” shall be solely
within the discretion of the Board of Directors of  BB&T or a majority of the
Continuing Directors, as the case may be. In the  event that the Board of Directors or
the Continuing Directors, as the case may  be, determine that a transaction does
constitute a merger of equals, then,  notwithstanding the provisions of paragraph 9(a)
and paragraph 9(b) herein, the  vesting and exercisability of the Option will not be
accelerated due to the  merger of equals, but the Option shall instead continue to vest
and become  exercisable, if at all, in accordance with the provisions of paragraphs 3, 4,
5,  6, 7 and 9 herein.

	10.	 	
No Right to Continued Employment. So long as the Participant shall continue to be
an employee of BB&T or one of its Subsidiaries, the Option shall not be affected by
any change in the duties or position of the Participant. This Agreement does not confer
upon the Participant any right to continue as an employee of BB&T or a Subsidiary, nor
shall it interfere in any way with the right of BB&T or a Subsidiary to terminate his
employment at any time.

10.B-5

	11.	 	
Change in Capital Structure. The terms of the Option shall be adjusted as the
Committee determines is equitably required in the event that (a) BB&T (i) effects one
or more stock dividends, stock split-ups, subdivisions or consolidation of shares, or (ii)
engages in a transaction to which Code Section 424 applies; or (b) there occurs any other
event which, in the Committee’s judgment, necessitates such action.

	12.	 	
Reservation of Shares. BB&T shall, at all times during the terms of the Option,
reserve and keep available such number of shares of BB&T Common Stock as will be
sufficient to satisfy the requirements of the Option, and shall pay all original issue and
transfer taxes with respect to the issuance and transfer of BB&T Common Stock pursuant
hereto and all other fees and expenses necessarily incurred by BB&T in connection
therewith.

	13.	 	
Resale and Transfer Restrictions. In the event that the Participant is deemed to be
an Affiliate of BB&T, as defined in Rule 405 promulgated under the Securities Act, any
resale or transfer of the shares of BB&T Common Stock acquired pursuant to the Option
shall, under existing law, require either (a) the further registration under the
Securities Act of the shares of BB&T Common Stock to be transferred, (b) compliance
with Rule 144 promulgated under the Securities Act, or (c) the availability of another
exemption from registration. The Participant acknowledges that the stock certificate or
certificates to be delivered to him upon the exercise of the Option shall reflect these
limitations in the form of stock transfer restrictions.

	14.	 	
Notices. Any and all notices under the Option shall be in writing, and sent by hand
delivery or by certified or registered mail (return receipt requested and first-class
postage prepaid), in the case of BB&T, to its Human Systems Division to the attention
of the Human Systems Division Manager, and in the case of the Participant, to the last
known address of the Participant as reflected in BB&T’s records.

	15.	 	
Governing Law. This Agreement shall be governed by the laws of the State of North
Carolina, without regard to the principles of conflicts of law.

	16.	 	
Conflicts. In the event of any conflict between the provisions of the Plan as in
effect on the date hereof and the provisions of this Agreement, the provisions of the Plan
shall govern. All references herein to the Plan shall mean the Plan as in effect on the
date hereof.

	17.	 	
Participant Bound by Plan. The Participant hereby acknowledges receipt of a copy of
the Plan and agrees to be bound by all the terms and provisions thereof.

	18.	 	
Binding Effect. Subject to the limitations stated above and in the Plan, this
Agreement shall be binding upon and inure to the benefit of the legatees, distributees,
and personal representatives of the Participant and the successors of BB&T.

10.B-6

	19.	 	
Taxes. BB&T has made no warranties or representations to the Participant with
respect to the tax consequences (including but not limited to income tax consequences)
related to the Option or the issuance of shares following exercise of the Option, and the
Participant is in no manner relying on BB&T or its representatives for an assessment
of any such tax consequences. The Participant acknowledges that there may be adverse tax
consequences upon acquisition or disposition of the shares subject to the Option and that
the Participant should consult a tax advisor prior to such exercise or disposition. The
Participant acknowledges that he has been advised that he should consult with his own
attorney, accountant and/or tax advisor regarding the decision to enter into this
Agreement and the consequences thereof. The Participant also acknowledge that BB&T has
no responsibility to take or refrain from taking any actions in order to achieve a certain
tax result for the Participant. In accordance with procedures established by the
Committee, BB&T may withhold from BB&T Common Stock delivered to the Participant,
sufficient shares of BB&T Common Stock (valued as the Date of Exercise) to satisfy
withholding and employment taxes, or the Participant shall pay to BB&T in cash or
BB&T Common Stock (valued as of the Date of Exercise) sufficient amounts of shares to
satisfy such obligations.

	20.	 	
Amendment and Termination; Waiver. Subject to the terms of the Plan, this Agreement
may be modified or amended only by the written agreement of the parties hereto. The waiver
by BB&T of a breach of any provision of the Agreement by the Participant shall not
operate or be construed as a waiver of any subsequent breach by the Participant.
Notwithstanding the foregoing, the Administrator shall have unilateral authority to amend
the Plan and this Agreement (without Participant consent) to the extent necessary to
comply with applicable law or changes to applicable law (including but in no way limited
to Code Section 409A and related regulations or other guidance and federal securities
laws).

          IN
WITNESS WHEREOF, BB&T has caused this Agreement to be signed by a duly
authorized officer, and the Participant has affixed his signature hereto. 

BB&T
CORPORATION

		
	 	BB&T Corporation
	 	 
	 By:   	  /s/ John A. Allison       
	 	Chairman and CEO

10.B-7Exhibit 10.C

Exhibit
10.C

OPTION NO. ______________

BB&T
CORPORATION

2004
STOCK INCENTIVE PLAN

Nonqualified
Stock Option Agreement

(Non-Employee Directors)

		
	Name of Participant:	                                          
	Date of Grant:	                                          
	Number of Shares Subject to Option:	                                          
	Type of Option:	Nonqualified Option
	Date Vesting Begins:	                                          
	Expiration Date:	                                          

          THIS
AGREEMENT (the “Agreement”), dated as of ___________ ___, 20__,
between BB&T Corporation, a North Carolina corporation
(“BB&T”) for itself and its Affiliates, and
«First_Name» «MI» «Last_Name», a director of
BB&T (the “Participant”), is made pursuant and subject to the
provisions of the BB&T Corporation 2004 Stock Incentive Plan, as it may be
amended and/or restated (the “Plan”). 

          BB&T
desires to carry out the purposes of the Plan by affording the Participant an
opportunity to purchase shares of BB&T’s common stock, $5.00 par value
per share (the “Common Stock”), as hereinafter provided. 

          In
consideration of the foregoing, of the mutual promises set forth below and of
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto, intending to be legally bound, agree as
follows: 

	1.	 	Incorporation
of Plan. The rights and duties of BB&T and the  Participant under this Agreement
shall in all respects be subject to and  governed by the provisions of the Plan, a copy
of which the Participant  acknowledges is being delivered herewith or has been previously
provided to the  Participant and the terms of which are incorporated herein by reference.
In the  event of any conflict between the provisions in the Agreement and those of the
Plan, the provisions of the Plan shall govern. Unless otherwise defined herein,
capitalized terms in this Agreement shall have the same definitions as set forth  in the
Plan.

10.C-1

	2.	 	Grant
of Option. Pursuant to the Plan, effective as of ___________ ___,  20__ (the “Date
of Grant”), BB&T grants to the Participant,  subject to the terms and conditions
of the Plan and related resolutions of the  Board of Directors, and subject further to
the terms and conditions herein, the  right and option (the “Option”) to
purchase from BB&T all or any  part of an aggregate of «Options_» shares
(the “Shares”)  of Common Stock at a purchase price (the “Option Price”)
of $_______  per share, such Option Price being the Fair Market Value per share of Common
Stock on the Date of Grant. This Option is designated as a Nonqualified Option  and, as
such, is not intended to be an incentive stock option under Section 422  of the Internal
Revenue Code of 1986, as amended (the “Code”). Such  Option will be vested and
exercisable as hereinafter provided.

	3.	 	 Terms
and Conditions. The Option is subject to the following terms and  conditions:

		(a)	
Expiration Date. The Option shall expire on ___________ ___, 20__ (the
“Expiration Date”) (such term commencing with the Date of Grant and
ending on the Expiration Date being referred to as the “Option
Period”).

		(b)	
Exercise of Option. Except as provided in Sections 4, 5, 6, 7 and 9 and
subject to the authority of the Administrator to accelerate the exercisability
of this Option, this Option shall become vested and exercisable with respect to
twenty percent (20%) of the Shares subject to the Option on the first
anniversary of the Date of Grant and with respect to an additional twenty
percent (20%) of the Shares subject to the Option on each anniversary of the
Date of Grant over the following four years, so that the Option shall be fully
vested and fully exercisable on the fifth anniversary of the Date of Grant. To
the extent the Option has become vested and exercisable in accordance with the
preceding sentence, it shall continue to be vested and exercisable until the
earlier of the termination of the Participant’s rights hereunder pursuant
to Sections 4, 5, 6, 7 and 9, or until the Expiration Date. The Option may be
exercised with respect to any number of whole shares less than the full number
for which the Option could be exercised. A partial exercise of the Option shall
not affect the Participant’s right to exercise the Option with respect to
the remaining Shares, subject to the conditions of the Plan and this Agreement.
The Option may not be exercised at any time unless the Participant shall have
been in the continuous service as a director of BB&T from the date hereof to
the Date of Exercise of the Option, subject to the provisions of Sections 4, 5,
6, 7 and 9.

10.C-2

		(c)	
Method of Exercising and Payment for Shares. The Option shall be
exercised by written notice (the “Notice of Exercise”) accompanied by
payment of the Option Price, delivered to the attention of the Human Systems
Division at the office of BB&T Corporation, P.O. Box 1215, 200 West Second
Street, Winston-Salem, North Carolina 27102, or at such other location selected
by BB&T. The Date of Exercise shall be the date on which BB&T has
received both the Notice of Exercise and payment of the Option Price (except as
may be otherwise permitted for option exercises made pursuant to Section 6.05(c)
of the Plan). Payment of the Option Price may be made (i) in cash or by cash
equivalent, and, if permitted under applicable law, payment may also be made
(ii) by delivery of shares of Common Stock owned by the Participant at the time
of exercise for a period of at least six months (or such other time period
necessary to avoid variable accounting or other accounting consequences
inconsistent with BB&T’s accounting practices); (iii) by delivery of
written Notice of Exercise to BB&T and delivery to a broker of written
notice of exercise and irrevocable instructions to promptly deliver to BB&T
the amount of sale or loan proceeds to pay the Option Price; or (iv) by any
combination of the foregoing methods. Shares delivered in payment of the Option
Price shall be valued at their Fair Market Value on the date of exercise, as
determined by the Administrator by applying the provisions of the Plan. Upon the
exercise of an Option in whole or in part, payment of the Option Price in
accordance with the provisions of the Plan and this Agreement, and satisfaction
of such other conditions as may be established by the Administrator, BB&T
shall promptly deliver to the Participant a certificate or certificates for the
Shares purchased.

	 	In
the event that the Option shall be exercised pursuant to this Section 3 by any person
other than the Participant, the Notice of Exercise shall be accompanied by appropriate
proof of the right of such person to exercise the Option.

		(d)	
Shareholder Rights. The Participant and his legal representative,
legatees or distributees shall not be deemed to be the holder of any Shares
subject to the Option and shall not have any rights of a shareholder unless and
until certificates for such Shares have been issued and delivered to him or them
under the Plan. A certificate or certificates for Shares of Common Stock
acquired upon exercise of the Option shall be issued in the name of the
Participant (or his beneficiary) and distributed to the Participant (or his
beneficiary) as soon as practicable following receipt of Notice of Exercise and
payment of the Option Price (except as may otherwise be determined by BB&T
in the event of payment of the Option Price pursuant to Section 6.05(c) of the
Plan).

		(e)	
Nontransferability of Option. The Option shall not be transferable
(including by sale, assignment, pledge or hypothecation) other than by will or
the laws of intestate succession, except as may be permitted by the
Administrator in its sole discretion (and in a manner consistent with the
registration provisions of the Securities Act). Except as may be permitted by
the preceding sentence, (i) during the lifetime of the Participant, the Option
may be exercised only by the Participant; and (ii) no right or interest of a
Participant in the Option shall be liable for, or subject to, any lien,
obligation or liability of such Participant. The designation of a beneficiary in
accordance with the Plan shall not constitute a transfer.

10.C-3

	4.	 	Termination
of Service. Except as provided in Sections 5, 6 and 7, in the  event that the service of
the Participant with BB&T terminates for any  reason other than Retirement, death or
Disability, the Participant may exercise  the Option only with respect to those Shares of
Common Stock as to which the  Option has become vested and exercisable pursuant to
Section 3(b) as of the date  of his termination. The Participant may exercise the Option
with respect to such  Shares no more than thirty (30) days after the date of the
Participant’s  termination of service (but in any event prior to the Expiration
Date).

	5.	 	Exercise
After Retirement. In the event that the Participant remains in  the continuous service of
BB&T from the Date of Grant until the  Participant’s Retirement (as determined
in accordance with the retirement  policies of BB&T applicable to the members of the
Board of Directors), the  Option shall become fully vested and fully exercisable as of
the date of his  Retirement without regard to the installment exercise limitations set
forth in  Section 3(b). The Participant may exercise the Option following his Retirement
until the Expiration Date.

	6.	 	Exercise
in the Event of Death. In the event that the Participant remains  in the continuous
service of BB&T from the Date of Grant until his death,  the Option shall become
fully vested and fully exercisable as of the date of  death without regard to the
installment exercise limitations set forth in  Section 3(b). The Option shall be
exercisable by such person or persons who are  designated as the Participant’s
beneficiary in accordance with the terms of  the Plan and this Agreement, or, if no such
valid beneficiary designation  exists, then by the Participant’s estate or by such
person or persons as  shall have acquired the right to exercise the Option by will or the
laws of  descent and distribution. The person or persons entitled to exercise the Option
following the Participant’s death may exercise the Option until the  Expiration Date.

	7.	 	Exercise
in the Event of Disability. In the event that the Participant  remains in the continuous
service of BB&T from the Date of Grant until the  date of his Disability (as
determined in accordance with the disability policies  and procedures of BB&T
applicable to members of the Board of Directors), the  Option shall become fully vested
and fully exercisable as of the date of his  termination of service on account of his
Disability without regard to the  installment exercise limitations set forth in Section
3(b). The Participant may  exercise the Option following such termination of service
until the Expiration  Date.

	8.	 	Fractional
Share. A fractional share shall not be issuable hereunder, and  when any provision hereof
may entitle the Participant to a fractional share,  such fraction shall be disregarded.

	9.	 	Change
of Corporate Control.

		(a)	
Notwithstanding Sections 3, 4, 5, 6, 7 and 8, and in the event that there is
“Change of Control” as defined in this Section 9, of BB&T
subsequent to the date hereof, the Option shall become fully vested and fully
exercisable as of the effective date of such event without regard to the
installment exercise limitations set forth in Section 3(b).

10.C-4

		(b)	
For purposes of this Section 9, a “Change of Control” will be deemed
to have occurred on the earliest of the following dates: (i) the date any person
or group of persons (as defined in Section 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”)), together with
its affiliates, excluding employee benefit plans of BB&T and its Affiliates,
is or becomes, directly or indirectly, the “beneficial owner” (as
defined in Rule 13d-3 promulgated under the Exchange Act) of securities of
BB&T representing twenty percent (20%) or more of the combined voting power
of BB&T’s then outstanding securities; or (ii) the date when, as a
result of a tender offer or exchange offer for the purchase of securities of
BB&T (other than such an offer by BB&T for its own securities), or as a
result of a proxy contest, merger, consolidation or sale of assets, or as a
result of any combination of the foregoing, individuals who at the beginning of
any two-year period during the term of the Option constituted BB&T’s
Board of Directors, plus new directors whose election or nomination for election
of BB&T’s shareholders is approved by a vote of at least two-thirds of
the directors still in office who were directors at the beginning of such
two-year period (collectively, the “Continuing Directors”), cease for
any reason during such two-year period to constitute at least two-thirds of the
members of such Board of Directors; or (iii) the date the shareholders of
BB&T approve a merger or consolidation of BB&T with any other
corporation or entity regardless of which entity is the survivor other than a
merger or consolidation which would result in the voting securities of BB&T
or such surviving entity outstanding immediately prior thereto continuing to
represent (either by remaining outstanding or being converted into voting
securities of the surviving entity) at least sixty percent (60%) of the combined
voting power of the voting securities of BB&T or such surviving entity
outstanding immediately after such merger or consolidation (provided, however,
that if consummation of such merger, consolidation or reorganization is subject
to the approval of regulatory authorities, then, unless the Administrator
determines otherwise, a “Change of Control” shall not be deemed to
occur until the later of the date of approval of such merger or other event by
the shareholders or the date of final regulatory approval of such merger or
other event); or (iv) the date the shareholders of BB&T approve a plan of
complete liquidation or winding-up of BB&T or an agreement for the sale or
disposition by BB&T of all or substantially all of BB&T’s assets;
or (v) any event occurs that the Board of Directors determines should constitute
a change of control.

	10.	 	No
Right to Continued Service; Forfeiture of Award. Neither the Plan, the  grant of the
Option nor any other action related to the Plan shall confer upon  the Participant any
right to continue in the service of BB&T or an Affiliate  or affect in any way with
the right of BB&T to terminate an  individual’s service at any time. Except as
otherwise expressly provided in  the Plan or this Agreement, all rights of the
Participant under the Plan with  respect to the Option shall terminate upon termination
of the service of the  Participant to BB&T.

10.C-5

	11.	 	Superseding
Agreement. This Agreement supersedes any statements,  representations or agreements of BB&T
with respect to the grant of the  Option or any related rights, and the Participant
hereby waives any rights or  claims related to any such statements, representations or
agreements. This  Agreement does not supersede or amend any existing confidentiality
agreement,  nonsolicitation agreement, noncompetition agreement, employment agreement or
any  other similar agreement between the Participant and BB&T, including, but not
limited to, any restrictive covenants contained in such agreements.

	12.	 	Amendment
and Termination; Waiver. Subject to the terms of the Plan, this  Agreement may be
modified or amended only by the written agreement of the  parties hereto. The waiver by BB&T
of a breach of any provision of the  Agreement by the Participant shall not operate or be
construed as a waiver of  any subsequent breach by the Participant. Notwithstanding the
foregoing, the  Administrator shall have unilateral authority to amend the Plan and this
Agreement (without Participant consent) to the extent necessary to comply with
applicable law or changes to applicable law (including but in no way limited to  Code
Section 409A and related regulations or other guidance and federal  securities laws).

	13.	 	Withholding;
Tax Matters.

		(a)	
Prior to the delivery or transfer of any certificate for Shares or any other
benefit conferred under the Plan, BB&T may require the Participant to pay to
BB&T in cash the amount of any tax or other amount required by any
governmental authority to be withheld and paid over by BB&T to such
authority for the account of such recipient. Notwithstanding the foregoing, the
Administrator may establish procedures to permit a recipient to satisfy any such
obligation in whole or in part, and any local, state, federal, foreign or other
income tax obligations relating to the Option, by electing (the
“election”) to have BB&T withhold shares of Common Stock from the
Shares to which the recipient is entitled. The number of shares to be withheld
shall have a Fair Market Value as of the date that the amount of tax to be
withheld is determined as nearly equal as possible to (but not exceeding) the
amount of such obligations being satisfied. Each election must be made in
writing to the Administrator in accordance with election procedures established
by the Administrator.

		(b)	
BB&T has made no warranties or representations to the Participant with
respect to the tax consequences (including but not limited to income tax
consequences) related to the Option or issuance or transfer of Shares following
exercise of the Option, and the Participant is in no manner relying on BB&T
or its representatives for an assessment of such tax consequences. The
Participant acknowledges that there may be adverse tax consequences upon
acquisition or disposition of the Shares subject to the Option and that the
Participant should consult a tax advisor prior to such exercise or disposition.
The Participant acknowledges that he has been advised that he should consult
with his own attorney, accountant, and/or tax advisor regarding the decision to
enter into this Agreement and the consequences thereof. The Participant also
acknowledges that BB&T has no responsibility to take or refrain from taking
any actions in order to achieve a certain tax result for the Participant.

10.C-6

	14.	 	Severability.
The provisions of this Agreement are severable and if any  one or more provisions may be
determined to be illegal or otherwise  unenforceable, in whole or in part, the remaining
provisions shall nevertheless  be binding and enforceable.

	15.	 	Right
of Offset. Notwithstanding any other provision of the Plan or the  Agreement, BB&T
may reduce the amount of any payment otherwise payable to or  on behalf of the
Participant by the amount of any obligation of the Participant  to BB&T that is then
due and payable, and the Participant shall be deemed to  have consented to such reduction.

	16.	 	Counterparts;
Further Instruments. This Agreement may be executed in two  or more counterparts, each of
which shall be deemed an original, but all of  which together shall constitute one and
the same instrument. The parties hereto  agree to execute such further instruments and to
take such further action as may  be reasonably necessary to carry out the purposes and
intent of this Agreement.

	17.	 	Notices.
Any and all notices under the Option shall be in writing, and  sent by hand delivery or
by certified or registered mail (return receipt  requested and first-class postage
prepaid), in the case of BB&T, to its  Human Systems Division to the attention of the
Human Systems Division Manager,  and in the case of the Participant, to the last known
address of the Participant  as reflected in BB&T’s records.

	18.	 	Governing
Law. This Agreement shall be governed by and construed in  accordance with the laws of
the State of North Carolina, without regard to the  principles of conflicts of law, and
in accordance with applicable United States  federal laws.

	19.	 	Successors
and Assigns. Subject to the limitations stated above and in  the Plan, this Agreement
shall be binding upon and inure to the benefit of the  Participant and his executors,
administrators and permitted transferees and  beneficiaries and BB&T and its
successors and assigns.

	20.	 	Compliance
with Laws; Restrictions on Option and Shares. BB&T may  impose such restrictions on
the Option and Shares or any other benefits  underlying the Option as it may deem
advisable, including without limitation  restrictions under the federal securities laws,
federal tax laws, the  requirements of any stock exchange or similar organization and any
blue sky,  state or foreign securities laws applicable to such securities.
Notwithstanding  any other provision in the Plan or this Agreement to the contrary, BB&T
shall not be obligated to issue, deliver or transfer Shares of Common Stock  under the
Plan, make any other distribution of benefits under the Plan, or take  any other action,
unless such delivery, distribution or action is in compliance  with all applicable laws,
rules and regulations (including but not limited to  the requirements of the Securities
Act). BB&T may cause a restrictive legend  to be placed on any certificate for Shares
issued pursuant to the Option in such  form as may be prescribed from time to time by
applicable laws and regulations  or as may be advised by legal counsel.

10.C-7

	21.	 	Adjustment
of Awards upon the Occurrence of Certain Unusual or Nonrecurring Events. The
Administrator shall have authority to make adjustments to the  terms and conditions of
Awards in recognition of unusual or nonrecurring events  affecting BB&T or any
Affiliate, or the financial statements of BB&T or  any Affiliate, or of changes in
applicable laws, regulations or accounting  principles, if the Administrator determines
that such adjustments are  appropriate in order to prevent dilution or enlargement of the
benefits or  potential benefits intended to be made available under the Plan or necessary
or  appropriate to comply with applicable laws, rules or regulations.

	22.	 	Cash
Settlement. Notwithstanding any provision of the Plan or the  Agreement to the contrary,
the Administrator may cause the Option or portion  thereof to be canceled in
consideration of an alternative award or cash payment  of an equivalent cash value, as
determined by the Administrator, made to the  holder of such canceled Award.

          IN
WITNESS WHEREOF, BB&T has caused this Agreement to be signed by a duly
authorized officer, and the Participant has affixed his signature hereto. 

		
	 	BB&T CORPORATION
	 	 
	 By:   	  /s/ John A. Allison       
	 	Chairman and CEO
	 	 
	 	                     
	 	Participant

10.C-8

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