Document:

EXHIBIT 10.9

                             AMENDMENT TO AGREEMENT

         This Amendment to Agreement entered into as of the 22nd day of
February, 2002 by and between THE FAUQUIER BANK, a Virginia banking corporation
(the "Bank"), and Mark A. Debes, (the "Executive").

                                    RECITALS

         1. The Bank and Executive entered into an Agreement dated as of the
22nd of February, 2002, the ("Original Agreement") which provides for
compensation and other benefits to the Executive in certain events, a copy of
which is attached hereto as Exhibit A; and

         2. The parties desire to amend such Agreement;

         NOW, THEREFORE, IN CONSIDERATION of the premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereby agree as follows:

         1. Paragraph 1 of the Original Agreement is hereby amended to read as
follows:

         CHANGE OF CONTROL: For purposes of this Agreement, a Change of Control
of the Bank occurs if, after the date of this Agreement, (i) any person,
including a "group" as defined in Section 13(d)(3) of the Securities Exchange
Act of 1934 (but excluding any group of which the Executive is a member),
becomes the owner or beneficial owner of securities of the Bank or of Fauquier
Bankshares, Inc. (the "Holding Company") having 20% or more of the combined
voting power of the then outstanding Bank or Holding Company securities that may
be cast for the election of the Bank or Holding Company directors other than a
result of an issuance of securities initiated by the Bank or Holding Company, as
long as the majority of the Board of Directors approving the purchases is a
majority at the time the purchases are made; or (ii) as the direct or indirect
result of, or in connection with, a tender or exchange offer, a merger or other
business combination, a sale of assets, contested election, or any combination
of these events, the persons who were directors of the Bank or Holding Company
before such events cease to constitute a majority of the Bank's or Holding
Company's Board, or any successor's board, within two years of the last of such
transactions. For purposes of this Agreement, the Control Change Date is the
date on which an event described in (i) or (ii) occurs. If a Change of Control
occurs on account of a series of transactions, the Control Change Date is the
date of the last of such transactions.

         2. Paragraph 3(ii)(b) of the Original Agreement is hereby deleted and
Paragraph 3(ii)(c) is hereby redesignated as Paragraph 3(ii)(b).

                                            THE FAUQUIER BANK

                                            By: /s/ Randy K. Ferrell
                                                ---------------------
                                                    Randy K. Ferrell

                                                /s/ Mark A. Debes
                                                ---------------------
                                                    Mark A. Debes
                                                      Executive
<PAGE>

                                   AGREEMENT
                                   ---------

         THIS AGREEMENT, entered into as of the 22nd day of February, 2002 by
and between THE FAUQUIER BANK, a Virginia banking corporation (the "Bank"), and
Mark A. Debes (the "Executive").

                                  WITNESSETH:

         WHEREAS, the Board of Directors of the Bank has approved this Agreement
and authorized its execution and delivery on the Banks, behalf to the Executive;
and

         WHEREAS, the Executive is presently a key executive officer of the Bank
whose continued dedication, availability, advice and counsel to the Bank is
deemed important to the Board of Directors of the Bank, the Bank and its
shareholders; and

         WHEREAS, the services of the Executive, his experience and knowledge of
the affairs of the Bank, and his reputation and contacts in the industry are
extremely valuable to the Bank; and

         WHEREAS, the Bank wishes to attract and retain such well-qualified
Executives, and it is in the best interest of the Bank and of the Executive; and

         WHEREAS, the Bank considers the establishment and maintenance of a
sound and vital management to be part of its overall corporate strategy and to
be essential to protecting and enhancing the best interests of the Bank and its
shareholders;

         NOW, THEREFORE, to assure the Bank of the Executive's continued
dedication, the availability of his advice and counsel to the Board of Directors
of the Bank, and to induce the Executive to remain and continue in the employ of
the Bank and for other good and valuable consideration, the receipt and adequacy
whereof each party hereby acknowledges, the Bank and the Executive hereby agree
that the following terms and conditions of employment shall control and take
effect only in the event there is a change of control:

         1. CHANGE OF CONTROL: For purposes of this Agreement, a Change of
Control occurs if, after the date of this Agreement, (i) any person, including a
"group" as defined in Section 13(d)(3) of the Securities Exchange Act of 1934
(but excluding any group of which the Executive is a member), becomes the owner
or beneficial owner of Bank securities having 20% or more of the combined voting
power of the then outstanding Bank securities that may be cast for the election
of the Bank's directors other than a result of an issuance of securities
initiated by the Bank, or open market purchases approved by the Board of
Directors, as long as the majority of the Board of Directors approving the
purchases is a majority at the time the purchases are made; or (ii) as the
direct or indirect result of, or in connection with, a tender or exchange offer,
a merger or other business combination, a sale of assets, contested election, or
any combination of these events, the persons who were directors of the Bank
before such events cease to constitute a majority of the Bank's Board, or any
successor's board, within two years of the last of such transactions. For
purposes of this Agreement, the Control Change Date is the date on which an
event described in (i) or (ii) occurs. If a Change of Control occurs on account
of a series of transactions, the Control Change Date is the date of the last of
such transactions.

         2. TERMINATION AFTER CHANGE OF CONTROL: If, after such a Change of
Control shall have occurred, the Executive's employment is terminated, then the
Executive shall be entitled to receive the payments specified in this Agreement
unless such termination is for Cause or the Executive terminates employment
without Good Reason.

                                       2
<PAGE>

         (i)   The Bank may terminate the Executive's employment for Cause. For
the purposes of this Agreement, "Cause" shall mean the Executive's gross
negligence or willful misconduct, which is detrimental to the best interests of
the Bank's business operations. For purposes of this paragraph, no act, or
failure to act, on the Executive's part shall be considered "willful" unless
done, or omitted to be done, by him not in good faith and without reasonable
belief that his act or omission was in the best interest of the Bank; provided
that any act or omission to act on the Executive's behalf in reliance upon an
opinion of counsel to the Bank or counsel to the Executive shall not be deemed
to be willful. Notwithstanding the foregoing, the Executive shall not be deemed
to have been terminated for Cause unless and until there shall have been
delivered to him a copy of a certification by a majority of the outside members
of the Board of Directors of the Bank finding that, in the good faith opinion of
such majority, the Executive was guilty of conduct which is deemed to be Cause
within the meaning of the first sentence of this paragraph and specifying the
particulars thereof in detail, after reasonable notice to the Executive and an
opportunity for him, together with his counsel, to be heard before such
majority.

         (ii)  The Executive may terminate his employment for Good Reason. For
purposes of this Agreement, "Good Reason" shall mean:

               (a) The assignment of duties to the Executive by the Bank which
(i) are materially different from the Executive's duties immediately prior to
the Change of Control, or (ii) result in the Executive having significantly less
authority and/or responsibility than he had prior to the Change of Control,
without his express written consent;

               (b) The removal of the Executive from or any failure to re-elect
him to the aforesaid position(s), except in connection with a termination of his
employment by the Bank for Cause;

               (c) A reduction by the Bank of the Executive's base salary as in
effect on the date of the Change of Control or as the same may be increased from
time to time thereafter, or a failure by the Bank to increase such as salary
each year after such Change of Control by an amount which at least equals, on a
percentage basis, the percentage increase, if any, in the cost of living as set
forth in the Consumer Price Index for the area in which the principal office of
the Bank is located (1967=100) published by the Bureau of Labor Statistics of
the United States Department of Labor over the preceding year, unless the
failure to so increase the Executive's salary is waived in writing by the
Executive;

               (d) The failure of the Bank to provide the Executive with
substantially the same fringe benefits that were provided to him immediately
prior to the Change of Control, or with a package of fringe benefits that,
though one or more of such benefits may vary from those in effect immediately
prior to such Change of Control, is substantially comparable in all material
respects to such fringe benefits taken as a whole;

               (e) The failure of the Bank to obtain the assumption of and
agreement to perform this Agreement by any successor as contemplated in
paragraph 5(iii) hereof; or

               (f) The relocation of the Banks principal executive offices
outside of Warrenton, Virginia, without the consent of Executive.

         (iii) Notwithstanding the provisions of paragraph 2(i) and 2(ii),
following a Change of Control the Bank may terminate the Executive's employment
without cause at any time in any otherwise lawful manner, subject to the Bank's
providing to the Executive the payments and benefits specified in paragraph
3(ii).

         (iv)  Termination by either party shall be communicated by written
Notice of Termination to the other party hereto. For purposes of this Agreement,
a "Notice of Termination" shall mean a notice

                                       3

<PAGE>

which shall indicate the specific termination provision(s) in this Agreement
relied upon and shall set forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of employment under the provision so
indicated.

         (v) "Date of Termination" shall mean the date specified in the Notice
of Termination, which shall be not less than thirty (30) nor more than ninety
(90) days after such Notice of Termination is given; provided, that if within
thirty (30) days after any Notice of Termination is given pursuant to paragraph
2(i) or 2(ii) the party receiving such Notice of Termination notifies the other
party that a dispute exists concerning the termination, then pending the
resolution of any such dispute the Bank shall continue to pay the Executive the
same base salary as and when due and payable, and provide him the same or
substantially comparable fringe benefits that he was paid and provided
immediately prior to the delivery of the Notice of Termination. If a termination
by the Bank pursuant to paragraph 2(i) above is challenged by the Executive and
the termination is ultimately determined to be justified, then all sums paid by
the Bank to the Executive pursuant to this paragraph 2(v), plus the cost to the
Bank of providing the Executive such fringe benefits from the date of such
termination to the date of the resolution of such dispute, shall be promptly
repaid by the Executive to the Bank with interest at the rate charged from time
to time by The Fauquier Bank, to its most substantial customers for unsecured
parties of credit. Should it ultimately be determined that a termination by the
Bank pursuant to paragraph 2(i) above was not justified, or that a termination
by the Executive pursuant to paragraph 2(ii) above was for Good Reason, then the
Executive shall be entitled to retain all sums paid to him pending the
resolution of such dispute and he shall be entitled to receive in addition the
payments and other benefits provided for in paragraph 3(ii), and the Date of
Termination shall be the date on which the dispute is finally settled, either by
mutual written agreement of the parties, or by a final judgment.

         3. TERMINATION PROVISIONS. (i) If the Executive's employment shall be
terminated for Cause pursuant to paragraph 2(i), and if such termination is
challenged by the Executive and the challenge is resolved in favor of the Bank,
the Bank shall have no further obligation to the Executive.

         (ii) If within (3) years after a Change of Control of the Bank, (1) the
Bank shall terminate the Executive's employment in accordance with the
provisions of paragraph 2(i) hereof, and if such termination is challenged by
the Executive and the challenge is resolved in favor of the Executive, or (2)
the Executive shall terminate his employment pursuant to paragraph 2(ii) hereof
at any time during the period beginning with a Change of Control and ending
three (3) years after the Change of Control, then, except as provided in Section
6 of this Agreement,

              (a) On or before the Executive's last day of employment with the
Bank, the Bank shall pay to the Executive as compensation for services rendered
to the Bank a cash amount (subject to any applicable payroll or other taxes
required to be withheld) equal to 2.99 times the highest annual compensation
paid to the Executive by the Bank for any six months ending with the Executive's
termination, provided that, at the option of the Executive, the cash amount
required to be paid hereby shall be paid by the Bank in equal monthly
installments over the six (6) months succeeding the Date of Termination, payable
on the first day of each such month. For purposes of this paragraph 3(ii),
highest annual compensation shall include only base salary and cash bonuses paid
to Executive.

              (b) In addition to the benefits to which the Executive is entitled
under the retirement plans or programs of the Bank in effect as of the date
first above written or any successor plans or programs in effect on the Date of
Termination of the Executive's employment, the Bank shall pay the Executive a
cash amount equal to the actuarial equivalent of the retirement pension to which
the Executive would have been entitled under the terms of such retirement plan
or programs, without regard to "vesting" thereunder, had the Executive
accumulated three (3) additional years of continuous service (after any
termination pursuant to this Agreement) at the Executive's base salary rate in
effect on the Date of Termination under such retirement plans or programs
reduced by the

                                        4

<PAGE>

single sum actuarial equivalent of any amounts to which the Executive is
entitled pursuant to the provisions of said retirement plans and programs. For
purposes of this paragraph 3(ii)(b), "actuarial equivalent" shall be determined
using the same methods and assumptions utilized under the Bank's retirement
plans and programs immediately prior to the Change of Control. The Bank's
obligation under this paragraph 3(ii) (b) may be satisfied by a lump sum payment
in cash or by the purchase of an annuity owned by and payable to the Executive,
which annuity shall provide for payment comparable to payments which the
Executive would receive pursuant to the aforementioned retirement plans or
programs, The payment shall be made or the annuity shall be purchased and
delivered to the Executive within thirty (30) days following termination;
provided, however, that at the Executive's option, payment may be deferred until
a later time if in the Executive's opinion, a deferral would result in a more
advantageous income or estate tax treatment.

              (c) The Bank shall maintain in full force and effect, for the
continued benefit of the Executive for a three-year period after the Date of
Termination, all employee benefit plans and programs or arrangements in which
the Executive was entitled to participate immediately prior to the Date of
Termination, provided that the Executive's continued participation is possible
under the general terms and provisions of such plans and programs. In the event
that the Executive's participation in any such plan or program is barred, the
Bank shall arrange to provide the Executive with benefits substantially similar
to those which the Executive was entitled to receive under such plans and
programs.

         (iii) In the event that the Executive terminates his employment at any
time after a Change of Control for other than Good Reason, or Good Reason is
alleged but ultimately determined pursuant to paragraph 2(v) to be not
justifiable, then the Bank shall have no further obligation to the Executive.

         4. STOCK OPTIONS: Upon a Change of Control, all stock options granted
to the Executive under any of the Bank's Stock Option Plans, or any successor
thereto, shall become immediately exercisable with respect to all or any portion
of the shares covered thereby regardless of whether such options are otherwise
exercisable. The Bank shall reimburse the Executive for any federal income tax
liability incurred by the Executive in connection with the exercise of such
options which would not have otherwise been incurred by the Executive in the
absence of such options becoming immediately available upon a Change of Control,
such reimbursement to be submitted to the Executive within ten (10) days of
written notification to the Bank by the Executive of the exact amount of such
additional tax liability.

         At any time subsequent to seven (7) days after the public announcement
of a Change of Control, any or all stock options granted to the Executive under
the Bank's Stock Option Plans, or any successor thereto, held by the Executive
for more than six months ("Cancelable Options") may, upon the written approval
of a majority of disinterested, non-employee members of the Board of Directors,
be cancelled by the Bank in exchange for the payment to the Executive of cash in
an amount equal to the aggregate spread between the average exercise price of
the Cancelable Options and the higher of: (a) the average of the closing prices
of the Bank's shares as reported in the daily newspaper for the thirty (30)
business days immediately preceding the public announcement of the Change of
Control, or (b) the highest price per share actually paid in connection with the
Change of Control of the Bank.

         5. LITIGATION - OBLIGATIONS - SUCCESSORS: Notwithstanding the
requirements of paragraph 13 hereof, if litigation shall be brought to
challenge, enforce or interpret any provision contained in this Agreement, and
such litigation does not end with judgment in favor of the Bank, the Bank hereby
agrees to indemnify the Executive for his reasonable attorney's fees and
disbursements incurred in such litigation, and hereby agrees to pay
post-judgement interest on any money judgment obtained by the Executive
calculated at the rate charged from time to time by The Fauquier Bank, to

                                       5

<PAGE>

its most substantial customers for unsecured lines of credit from the date that
payment(s) to him should have been made under the judgment to date of payment.

         (ii) The Bank's obligation to pay the Executive the compensation and
benefits and to make the arrangements provided in this Agreement shall be
absolute and unconditional and shall not be affected by any circumstances,
including, without limitation, any set-off, counterclaim, recoupment, defense or
other right which the Bank may have against him or anyone else. All amounts
payable by the Bank under this Agreement shall be paid without notice or demand
except as provided in paragraph 4 hereof. Except as expressly provided in
paragraph 2(v), each and every payment made hereunder by the Bank shall be final
and the Bank will not seek to recover all or any part of such payment from the
Executive or from whosoever may be entitled thereto, for any reason whatsoever.
The Executive shall not be required to mitigate the amount of any payment
provided for in this Agreement by seeking other employment or otherwise.

         (iii) The Bank will require any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of
the business and/or assets of the Bank, or either one of them, by agreement in
form and substance satisfactory to the Executive, to expressly assume and agree
to perform this Agreement in its entirety. Failure of the Bank to obtain such
agreement prior to the effectiveness of any such succession shall be a breach of
this Agreement and shall entitle the Executive to compensation from the Bank in
the same amount and on the same terms as he would be entitled if he had
terminated his employment for Good Reason pursuant to subparagraph 2(ii) above,
except that for purposes of implementing the foregoing, the date on which any
such succession becomes effective shall be deemed the Date of Termination. As
used in this Agreement, "Bank" shall mean the Bank as hereinabove defined and
any successor to its respective business and/or assets as aforesaid which
executes and delivers the Agreement provided for in this paragraph 5 or which
otherwise becomes bound by all the terms and provisions of this Agreement by
operation of law.

         6. LIMITATION OF BENEFITS: It is the intention of the parties that no
payment be made or benefit provided to the Executive pursuant to this Agreement
that would constitute an "excess parachute payment" within the meaning of
Section 280G of the Internal Revenue Code of 1986, as amended (the "Code") and
any regulations thereunder, thereby resulting in a loss of an income tax
deduction by the Bank or the imposition of an excise tax on the Executive under
Section 4999 of the Code. If the independent accounts serving as auditors for
the Bank on the date of a Change of Control (or any other accounting firm
designated by the Bank) determine that some or all of the payments or benefits
scheduled under this Agreement, as well as any other payments or benefits on a
Change of Control, would be nondeductible by the Company under Section 280G of
the code, then the payments scheduled under this Agreement will be reduced to
one dollar less than the maximum amount which may be paid without causing any
such payment or benefit to be nondeductible. The determination made as to the
reduction of benefits or payments required hereunder by the independent
accountants shall be binding on the parties. The Executive shall have the right
to designate within a reasonable period, which payments or benefits will be
reduced; provided, however, that if no direction is received from the Executive,
the Bank shall implement the reductions in its discretion.

         7. NOTICES: For the purposes of this Agreement, notices or other
communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered or mailed by United States
registered or certified mail, return receipt requested, postage prepaid,
addressed as follows:

                                       6
<PAGE>

         If to the Executive:                 Mark A. Debes
                                              12601 Garry Glen Dr.
                                              Bristow, Va. 20136

         If to the Bank:                      The Fauquier Bank
                                              10 Courthouse Square
                                              P. O. Drawer 561
                                              Warrenton,  Virginia  20186

or at such other address as any party may have furnished to the other in writing
in accordance herewith, except that notices of change of address shall be
effective only upon receipt.

         8. MODIFICATION - WAIVERS - APPLICABLE LAW: No provisions of this
Agreement may be modified, waived or discharged unless such waiver, modification
or discharge is agreed to in writing, signed by the Executive and on behalf of
the Bank by such officer as may be specifically designated by the Board of
Directors of the Bank. No waiver by either party hereto at any time of any
breach by the other party hereto of, or compliance with, any condition or
provision of this Agreement to be performed by such other party shall be deemed
a waiver of similar or dissimilar provision or conditions at the same or at any
prior or subsequent time. No agreements or representations, oral or otherwise,
express or implied, with respect to the subject matter hereof have been made by
either party which are not set forth expressly in this Agreement. The validity,
interpretation, construction and performance of this Agreement shall be governed
by the laws of the Commonwealth of Virginia.

         9. INVALIDITY - ENFORCEABILITY: The invalidity or enforceability of any
provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement, which shall remain in full force and
effect. Any provision in this Agreement which is prohibited or unenforceable in
any jurisdiction shall, as to such jurisdiction, be ineffective only to the
extent of such prohibition or unenforceability without invalidating or affecting
the remaining provisions hereof, and any such prohibition or unenforceability in
any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction.

         10. CHANGE OF CONTROL TERM: The terms of this Agreement shall
automatically renew and be extended for three (3) years following the date of
the Change of Control.

         11. SUCCESSOR RIGHTS: This Agreement shall inure to the benefit of and
be enforceable by the Executive's personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees. If
Executive should die while any amounts would still be payable to him under this
Agreement, all such amounts, unless otherwise provided herein, shall be paid in
accordance with the terms of this Agreement to his devisee, legatee or other
designee or, if there is not such designee, to his estate.

         12. HEADINGS: Descriptive headings contained in this Agreement are for
convenience only and shall not control or affect the meaning of construction of
any provision hereof.

         13. ARBITRATION: Any dispute, controversy or claim arising under or in
connection with this Agreement shall be settled exclusively by arbitration,
conducted before a panel of three arbitrators, in Richmond, Virginia in
accordance with the rules of the American Arbitration Association then in
effect. Judgement may be entered on the arbitrator's award in any court having
jurisdiction. Unless otherwise provided in the rules of the American Arbitration
Association, the arbitrators shall, in

<PAGE>

their award, allocate between the parties the costs of arbitration, which shall
include reasonable attorneys' fees and expenses of the parties, as well as the
arbitrator's fees and expenses, in such proportions as the arbitrators deem
just.

         IN WITNESS WHEREOF, the parties have executed this Agreement effective
as of the date first above written.

                                              "EXECUTIVE"

                                              /s/ Mark A. Debes
                                              ----------------------------------

                                              THE FAUQUIER BANK

                                              By:  /s/ Randy K. Ferrell
                                                   -----------------------------

                                       8

<PAGE>

STATE OF VIRGINIA     )
                      )     To-Wit:
County of Fauquier    )

         Sworn and subscribed before me this 12th day of March, 2002, by Mark
Debes.

                                     /s/ Allison J. Dodson
                                     ------------------------------
                                             Notary Public

         My commission expires:              10/31/04
                                     ------------------------------

STATE OF VIRGINIA                          )
                                           )
                                           )  To-Wit:
    County         of   Fauquier           )
------------------      --------------     )

         Sworn and subscribed before me this 14th day of March, 2002, by Randy
K. Ferrell, President of The Fauquier Bank.

                                     /s/ Allison J. Dodson
                                     ------------------------------
                                             Notary Public

                                           10/31/04
         My commission expires:      ------------------------------

                                       9EXHIBIT 10.10

                     EXECUTIVE SUPPLEMENTAL RETIREMENT PLAN

                              EXECUTIVE AGREEMENT

         THIS AGREEMENT is made and entered into this 10th day of August, 2000,
by and between The Fauquier Bank, a Bank organized and existing under the laws
of the Commonwealth of Virginia, (hereinafter referred to as the, "Bank"), and
C. Hunton Tiffany, an Executive of the Bank (hereinafter referred to as the,
"Executive").

         WHEREAS, the Executive is now in the employ of the Bank and has for
many years faithfully served the Bank. It is the consensus of the Board of
Directors (hereinafter referred to as the, "Board") that the Executive's
services have been of exceptional merit, in excess of the compensation paid and
an invaluable contribution to the profits and position of the Bank in its field
of activity. The Board further believes that the Executive's experience,
knowledge of corporate affairs, reputation and industry contacts are of such
value, and the Executive's continued services so essential to the Bank's future
growth and profits, that it would suffer severe financial loss should the
Executive terminate their services;

         ACCORDINGLY, the Board has adopted the Fauquier Bank Executive
Supplemental Retirement Plan (hereinafter referred to as the, "Executive Plan")
and it is the desire of the Bank and the Executive to enter into this agreement
which the Bank will agree to make certain payments to the Executive upon the
Executive's retirement and to the Executive's beneficiary(ies) in the event of
the Executive's death pursuant to the Executive Plan;

         FURTHERMORE, it is the intent of the parties hereto that this Executive
Plan be considered an unfunded arrangement maintained primarily to provide
supplemental retirement benefits for the Executive, and to be considered a
non-qualified benefit plan for purposes of the Employee Retirement Security Act
of 1974, as amended ("ERISA"). The Executive is fully advised of the Bank's
financial status and has had substantial input in the design and operation of
this benefit plan; and

         NOW THEREFORE, in consideration of services the Executive has performed
in the past and those to be performed in the future, and based upon the mutual
promises and covenants herein contained, the Bank and the Executive agree as
follows:

I. DEFINITIONS

   A.    Effective Date:
         --------------

         The Effective Date of the Plan shall be June 30, 2000.

<PAGE>

B.       Plan Year:
         ---------

         Any reference to the "Plan Year" shall mean a calendar year from
         January 1st to December 31st. In the year of implementation, the
         term the "Plan Year" shall mean the period from the Effective Date to
         December 31st of the year of the Effective Date.

C.       Retirement Date:
         ---------------

         Retirement Date shall mean retirement from service with the Bank which
         becomes effective on the first day of the calendar month following the
         month in which the Executive reaches age sixty-five (65) or such later
         date as the Executive may actually retire.

D.       Termination of Service:
         ----------------------

         Termination of Service shall mean the Executive's voluntary resignation
         of service by the Executive or the Bank's discharge of the Executive
         without Cause, prior to the Normal Retirement Age [Subparagraph I (J)].

E.       Pre-Retirement Account:
         ----------------------

         A Pre-Retirement Account shall be established as a liability reserve
         account on the books of the Bank for the benefit of the Executive.
         Prior to the Executive's Retirement Date [Subparagraph I (C)l, such
         liability reserve account shall be increased or decreased each Plan
         Year, until the aforestated event occurs, by the Index Retirement
         Benefit [Subparagraph I (F)].

F.       Index Retirement Benefit
         ------------------------

         The Index Retirement Benefit for each Executive in the Executive Plan
         for each Plan Year shall be equal to the excess (if any) of the Index
         [Subparagraph I (G)] for that Plan Year over the Cost of Funds Expense
         [Subparagraph I (H)] for that Plan Year.

G.       Index:
         -----

         The Index for any Plan Year shall be the aggregate annual after-tax
         income from the life insurance contract(s) described hereinafter as
         defined by FASB Technical Bulletin 85-4. This Index shall be applied as
         if such insurance contract(s) were purchased on the Effective Date of
         the Executive Plan.

                                       2

<PAGE>

Insurance Company:                       Jefferson Pilot Life Insurance Company
Policy Form:                             Flexible Premium Adjustable Life
Policy Name:                             Executive Security Plan VI
Insured's Age and Sex:                   61, Male
Riders:                                  None
Ratings:                                 None
Option:                                  Level
Face Amount:                             $690,000
Premiums Paid:                           $374,500
Number of Premium Payments:              Single
Assumed Purchase Date:                   June 30,2000

Insurance Company:                       ING Southland Life Insurance Company
Policy Form:                             Flexible Premium Adjustable Life
Policy Name:                             Max Universal Life
Insured's Age and Sex:                   61, Male
Riders:                                  None
Ratings:                                 None
Option:                                  Level
Face Amount:                             $670,077
Premiums Paid:                           $374,500
Number of Premium Payments:              Single
Assumed Purchase Date:                   June 30,2000

If such contracts of life insurance are actually purchased by the Bank, then the
actual policies as of the dates they were actually purchased shall be used in
calculations under this Executive Plan. If such contracts of life insurance are
not purchased or are subsequently surrendered or lapsed, then the Bank shall
receive annual policy illustrations that assume the above-described policies
were purchased or had not subsequently surrendered or lapsed, which illustration
will be received from the respective insurance companies and will indicate the
increase in policy values for purposes of calculating the amount of the Index.

In either case, references to the life insurance contracts are merely for
purposes of calculating a benefit. The Bank has no obligation to purchase such
life insurance and, if purchased, the Executives and their beneficiary(ies)
shall have no ownership interest in such policy and shall always have no greater
interest in the benefits under this Executive Plan than that of an unsecured
creditor of the Bank.

                                       3
<PAGE>

H.       Cost of Funds Expense:
         ---------------------

         The Cost of Funds Expense for any Plan Year shall be calculated by
         taking the sum of the amount of premiums for the life insurance
         policies described in the definition of "Index" plus the amount of any
         after-tax benefits paid to the Executive pursuant to the Executive Plan
         (Paragraph II hereinafter) plus the amount of all previous years
         after-tax Costs of Funds Expense, and multiplying that sum by the
         Average After-Tax Cost of Funds [Subparagraph I (K)].

I.       Change of Control:
         -----------------

         For purposes of this Agreement, a Change of Control of the Bank occurs
         if, after the date of this Agreement, (i) any person, including a
         "group" as defined in Section 13(d)(3) of the Securities Exchange Act
         of 1934 (but excluding any group of which the Executive is a member),
         becomes the owner or beneficial owner of securities of the Bank or of
         Fauquier Bankshares, Inc. (the "Holding Company") having 20% or more of
         the combined voting power of the then outstanding Bank or Holding
         Company securities that may be cast for the election of the Bank or
         Holding Company directors other than a result of the issuance of
         securities initiated by the Bank or Holding Company, as long as the
         majority of the Board of Directors approving the purchases is a
         majority at the time the purchases are made; or (ii) as the direct or
         indirect result of, or in connection with, a tender or exchange offer,
         a merger or other business combination, a sale of assets, contested
         election, or any combination of these events, the persons who were
         directors of the Bank or Holding Company before such events cease to
         constitute a majority of the Bank's or Holding Company's Board, or any
         successor's board, within two years of the last date of such
         transactions. For purposes of this Agreement, the Control Change Date
         is the date on which an event described in (i) or (ii) occurs. If a
         Change of Control occurs on account of a series of transactions, the
         Control Change Date is the date of the last of such transactions.

J.       Normal Retirement Age:
         ---------------------

         Normal Retirement Age shall mean the date on which the Executive
         attains age sixty-five (65).

K.       Average After-Tax Cost of Funds:
         -------------------------------

         Average After-Tax Cost of Funds means, at any particular time, a ratio,
         the numerator of which is the total interest expense as set forth on
         Schedule RI-Income Statement on the Bank's most recently filed
         Consolidated Report of Condition and Income (the "Call Report") and the
         denominator of which is an amount equal to: (i) the amount of deposits
         in domestic

                                        4

<PAGE>

         offices (sum of total of columns A and C from Schedule RC-E of the Call
         Report), plus (ii) the amount of Federal funds purchased and securities
         sold under agreements to repurchase, as set forth on Schedule
         RC-Balance Sheet of the Call Report.

II.   INDEX BENEFITS

      A. Retirement Benefits:
         -------------------

         Unless terminated for Cause under Subparagraph II (D) hereinafter, an
         Executive who remains in the employ of the Bank until the Normal
         Retirement Age [Subparagraph I (J)] shall be entitled to receive the
         balance in the Pre-Retirement Account in one hundred eighty (180) equal
         monthly installments commencing thirty (30) days following the
         Executive's retirement. In addition to these payments and commencing in
         conjunction therewith, the Index Retirement Benefit [Subparagraph I
         (F)] for each Plan Year subsequent to the Executive's retirement, and
         including the remaining portion of the Plan Year following said
         retirement, shall be paid to the Executive until the Executive's death.

         Notwithstanding the foregoing, the total amount of said benefit (i.e.
         the Pre-Retirement Account and the Index Retirement Benefit combined or
         the Index Retirement Benefit alone) to be received by the Executive at
         the Retirement Date shall be a maximum of $30,000.00. For each year
         thereafter that the Executive receives a benefit, said total maximum
         benefit amount shall be increased by four percent (4%) from the
         previous years benefit amount.

      B. Termination of Service:
         ----------------------

         Unless terminated for Clause under Subparagraph II (U), should an
         Executive suffer a Termination of Service the Executive shall be
         entitled to receive the balance in the Pre-Retirement Account payable
         to the Executive in one hundred eighty (180) equal monthly installments
         commencing thirty (30) days following the Executive's Normal Retirement
         Age [Subparagraph I (J)]. In addition to these payments and commencing
         in conjunction therewith, the Index Retirement Benefit for each Plan
         Year subsequent to the year in which the Executive attains Normal
         Retirement Age, and including the remaining portion of the Plan Year in
         which the Executive attains Normal Retirement Age, shall be paid to the
         Executive until the Executive's death.

         Notwithstanding the foregoing. the maximum total amount of said benefit
         (i.e. the Pre-Retirement Account and the Index Retirement Benefit
         combined or the Index Retirement Benefit) to be received by the
         Executive at Normal Retirement Age shall be the Executive`s vested
         percentage in

                                       5

<PAGE>

         said benefits, as set forth hereinabove, times $30,000.00. For each
         year thereafter that the Executive receives a benefit, said total
         maximum benefit amount shall be increased by four percent (4%) from the
         previous years benefit amount.

      C. Death.
         -----

         Should the Executive die prior to having received the balance of the
         Pre-Retirement Account the Executive is entitled to under the terms of
         this Executive Plan, the entire unpaid balance of the Executive's Pre-
         Retirement Account shall be paid in a lump sum to the individual or
         individuals the Executive may have designated in writing and filed with
         the Bank. In the absence of any effective designation of
         beneficiary(ies), the unpaid balance shall be paid as set forth herein
         to the duly qualified executor or administrator of the Executive's
         estate. Said payment due hereunder shall be made the first day of the
         second month following the decease of the Executive. Provided, however,
         that anything hereinabove to the contrary notwithstanding, no death
         benefit shall be payable hereunder if the Executive dies on or before
         the 30th day of June, 2002.

      D. Discharge for Cause:
         -------------------

         The Bank may terminate the Executive's employment for Cause. For the
         purposes of this Agreement, "Cause" shall mean the Executive's gross
         negligence or willful misconduct, which is detrimental to the best
         interests of the Bank's business operations. For purposes of this
         paragraph, no act, or failure to act, on the Executive's part shall be
         considered "willful" unless done, or omitted to be done, by him not in
         good faith and without reasonable belief that his act or omission was
         in the best interest of the Bank; provided that any act or omission to
         act on the Executive's behalf in reliance upon an opinion of counsel to
         the Bank or counsel to the Executive's shall be deemed to be
         willful. Notwithstanding the foregoing, the Executive shall not be
         deemed to have been terminated for Cause unless and until there shall
         have been delivered to him a copy of a certification by a majority of
         the outside members of the Board of Directors of the Bank finding that,
         in the good faith opinion of such majority, the Executive was guilty of
         conduct which is deemed to be Cause within the meaning of the first
         sentence of this paragraph and specifying the particulars thereof in
         detail, after reasonable notice to the Executive and an opportunity for
         him, together with his counsel, to be heard before such majority.

      E. Death Benefit:
         -------------

         Except as set forth above, there is no death benefit provided under
         this Agreement.

                                       6

<PAGE>

      F. Disability Benefit:
         ------------------

         In the event the Executive becomes disabled prior to any Termination of
         Service, and the Executive's employment is terminated because of such
         disability, he shall begin receiving one hundred percent (100%) of the
         benefits in Subparagraph II (A) above only upon the occurrence of one
         of the following events, whichever shall first occur: (i) the Bank's
         long term disability coverage payments to the Executive cease, (ii) the
         Bank's long term disability policy shall terminate, or (iii) when the
         Executive attains age sixty-five (65). An Executive shall be considered
         disabled if the Executive is unable to perform the duties of the
         Executive's regular position due to any medically determinable physical
         or mental impairment that is expected to be permanent or of indefinite
         duration.

III.  RESTRICTIONS UPON FUNDING

      The Bank shall have no obligation to set aside, earmark or entrust any
      fund or money with which to pay its obligations under this Executive Plan.
      The Executive, their beneficiary(ies), or any successor in interest shall
      be and remain simply a general creditor of the Bank in the same manner as
      any other creditor having a general claim for matured and unpaid
      compensation.

      The Bank reserves the absolute right, at its sole discretion, to either
      fund the obligations undertaken by this Executive Plan or to refrain from
      funding the same and to determine the extent, nature and method of such
      funding. Should the Bank elect to fund this Executive Plan, in whole or in
      part, through the purchase of life insurance, mutual funds, disability
      policies or annuities, the Bank reserves the absolute right, in its sole
      discretion, to terminate such funding at any time, in whole or in part. At
      no time shall any Executive be deemed to have any lien nor right, title or
      interest in or to any specific funding investment or to any assets of the
      Bank.

      If the Bank elects to invest in a life insurance, disability or annuity
      policy upon the life of the Executive, then the Executive shall assist the
      Bank by freely submitting to a physical exam and supplying such additional
      information necessary to obtain such insurance or annuities.

IV.   CHANGE OF CONTROL

      Upon a Change of Control [Subparagraph I (I)], if the Executive
      subsequently suffers a Termination of Service [Subparagraph I (D)], then
      the Executive shall receive the benefits promised in this Executive Plan
      upon attaining Normal Retirement Age, as if the Executive had been
      continuously employed by the Bank until the Executive's Normal Retirement
      Age. The Executive will also remain eligible for all promised death
      benefits in this Executive Plan. In addition, no

                                       7

<PAGE>

      sale. merger, or consolidation of the Bank shall take place unless the new
      or surviving entity expressly acknowledges the obligations under this
      Executive Plan and agrees to abide by its terms.

V.    MISCELLANEOUS

      A.  Alienability and Assignment Prohibition
          ---------------------------------------

          Neither the Executive, nor the Executive's surviving spouse, nor any
          other beneficiary(ies) under this Executive Plan shall have any power
          or right to transfer, assign, anticipate, hypothecate, mortgage,
          commute, modify or otherwise encumber in advance any of the benefits
          payable hereunder nor shall any of said benefits be subject to seizure
          for the payment of any debts, judgments, alimony or separate
          maintenance owed by the Executive or the Executive's beneficiary(ies),
          nor be transferable by operation of law in the event of bankruptcy,
          insolvency or otherwise. In the event the Executive or any beneficiary
          attempts assignment, commutation, hypothecation, transfer or disposal
          of the benefits hereunder, the Bank's liabilities shall forthwith
          cease and terminate.

      B.  Binding Obligation of the Bank and any Successor in Interest:
          ------------------------------------------------------------

          The Bank shall not merge or consolidate into or with another bank or
          sell substantially all of its assets to another bank, firm or person
          until such bank, firm or person expressly agrees, in writing, to
          assume and discharge the duties and obligations of the Bank under this
          Executive Plan. This Executive Plan shall be binding upon the parties
          hereto, their successors. beneficiaries, heirs and personal
          representatives.

      C.  Amendment or Revocation:
          -----------------------

          It is agreed by and between the parties hereto that, during the
          lifetime of the Executive, this Executive Plan may be amended or
          revoked at any time or times, in whole or in part, by the mutual
          written consent of the Executive and the Bank.

      D.  Gender:
          ------

          Whenever in this Executive Plan words are used in the masculine or
          neuter gender, they shall be read and construed as in the masculine,
          feminine or neuter gender, whenever they should so apply.

      E.  Effect on Other Bank Benefit Plans:
          ----------------------------------

          Nothing contained in this Executive Plan shall affect the right of the
          Executive to participate in or be covered by any qualified or
          non-qualified

                                       8

<PAGE>

          pension, profit-sharing, group, bonus or other supplemental
          compensation or fringe benefit plan constituting a part of the Bank's
          existing or future compensation structure.

      F.  Headings:
          --------

          Headings and subheadings in this Executive Plan are inserted for
          reference and convenience only and shall not be deemed a part of this
          Executive Plan.

      G.  Applicable Law:
          --------------

          The validity and interpretation of this Agreement shall be governed by
          the laws of the Commonwealth of Virginia.

      H.  12 U.S.C. ss. 1828(k):
          ---------------------

          Any payments made to the Executive pursuant to this Executive Plan, or
          otherwise, are subject to and conditioned upon their compliance with
          12 U.S.C. ss. 1828(k) or any regulations promulgated thereunder.

      I.  Partial Invalidity:
          ------------------

          If any term, provision, covenant, or condition of this Executive Plan
          is determined by an arbitrator or a court, as the case may be, to be
          invalid, void, or unenforceable, such determination shall not render
          any other term, provision, covenant, or condition invalid, void, or
          unenforceable, and the Executive Plan shall remain in full force and
          effect notwithstanding such partial invalidity.

      J.  Employment:
          ----------

          No provision of this Executive Plan shall be deemed to restrict or
          limit any existing employment agreement by and between the Bank and
          the Executive, nor shall any conditions herein create specific
          employment rights to the Executive nor limit the right of the Employer
          to discharge the Executive with or without cause. In a similar
          fashion, no provision shall limit the Executive's rights to
          voluntarily sever the Executive's employment at any time.

VI.   ERISA PROVISION

      A.  Named Fiduciary and Plan Administrator:
          --------------------------------------

          The "Named Fiduciary and Plan Administrator" of this Executive Plan
          shall be The Fauquier Bank until its resignation or removal by the
          Board.

                                       9

<PAGE>

          As Named Fiduciary and Plan Administrator, the Bank shall be
          responsible for the management, control and administration of the
          Executive Plan. The Named Fiduciary may delegate to others certain
          aspects of the management and operation responsibilities of the
          Executive Plan including the employment of advisors and the delegation
          of ministerial duties to qualified individuals.

      B.  Claims Procedure and Arbitration:
          --------------------------------

          In the event a dispute arises over benefits under this Executive Plan
          and benefits are not paid to the Executive (or to the Executive's
          beneficiary(ies) in the case of the Executive's death) and such
          claimants feel they are entitled to receive such benefits, then a
          written claim must be made to the Named Fiduciary and Plan
          Administrator named above within sixty (60) days from the date
          payments are refused. The Named Fiduciary and Plan Administrator shall
          review the written claim and if the claim is denied, in whole or in
          part, they shall provide in writing within sixty (60) days of receipt
          of such claim its specific reasons for such denial, reference to the
          provisions of this Executive Plan upon which the denial is based and
          any additional material or information necessary to perfect the claim.
          Such written notice shall further indicate the additional steps to be
          taken by claimants if a further review of the claim denial is desired.
          A claim shall be deemed denied if the Named Fiduciary and Plan
          Administrator fail to take any action within the aforesaid sixty-day
          period.

          If claimants desire a second review they shall notify the Named
          Fiduciary and Plan Administrator in writing within sixty (60) days of
          the first claim denial. Claimants may review this Executive Plan or
          any documents relating thereto and submit any written issues and
          comments it may feel appropriate. In their sole discretion, the Named
          Fiduciary and Plan Administrator shall then review the second claim
          and provide a written decision within sixty (60) days of receipt of
          such claim. This decision shall likewise state the specific reasons
          for the decision and shall include reference to specific provisions of
          the Plan Agreement upon which the decision is based.

          If claimants continue to dispute the benefit denial based upon
          completed performance of this Executive Plan or the meaning and effect
          of the terms and conditions thereof, then claimants may submit the
          dispute to an Arbitrator for final arbitration. The Arbitrator shall
          be selected by mutual agreement of the Bank and the claimants. The
          Arbitrator shall operate under any generally recognized set of
          arbitration rules. The parties hereto agree that they and their heirs,
          personal representatives, successors and assigns shall be bound by the
          decision of such Arbitrator with respect to any controversy properly
          submitted to it for determination.

                                       10

<PAGE>

          Where a dispute arises as to the Bank's discharge of the Executive for
          "cause", such dispute shall likewise be submitted to arbitration as
          above- described and the parties hereto agree to be bound by the
          decision thereunder.

VII.      TERMINATION OR MODIFICATION OF AGREEMENT BY REASON OF CHANGES IN THE
          LAW, RULES OR REGULATIONS

          The Bank is entering into this Agreement upon the assumption that
          certain existing tax laws, rules and regulations will continue in
          effect in their current form. If any said assumptions should change
          and said change has a detrimental effect on this Executive Plan, then
          the Bank reserves the right to terminate or modify this Agreement
          accordingly. Upon a Change of Control [Subparagraph I (I)], this
          paragraph shall become null and void effective immediately upon said
          Change of Control.

          IN WITNESS WHEREOF, the parties hereto acknowledge that each has
carefully read this Agreement and executed the original thereof on the 10th day
of August, 2000, and that, upon execution, each has received a conforming copy.

                                             THE FAUQUIER BANK
                                             Warrenton, Virginia

/s/ Illegible                                /s/ Illegible
-------------------------                    -----------------------------------
Witness                                          Illegible                 Title

                                             /s/ C. Hunton Tiffany
-------------------------                    -----------------------------------
Witness                                      C. Hunton Tiffany

                                       11

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