Document:

<PAGE>

Exhibit 10.56
                             CENTURA BANKS, INC.
                 SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
                                  UNDER THE
                   CENTURA BANKS, INC. OMNIBUS SUPPLEMENTAL
                           EXECUTIVE RETIREMENT PLAN

     This AGREEMENT, made effective this 27th day of December, 1999, by and
among Centura Banks, Inc., a North Carolina corporation having its principal
place of business in Rocky Mount, North Carolina ("Centura"), Centura Bank (the
"Bank"), a subsidiary of Centura, and H. Kel Landis III ("Participant"), an
employee of the Bank.

                             W I T N E S S E T H :

     WHEREAS, Participant is a valued employee of the Bank and as such, has
performed his duties in a capable and efficient manner, resulting in substantial
growth and progress to the Bank; and

     WHEREAS, the Participant is expected to perform valuable services in the
future which shall be of special importance to the Bank and for which it would
be difficult for the Bank to find a suitable replacement; and

     WHEREAS, Participant has previously been determined eligible to receive
benefits under one or more of the Planters National Bank and Trust Company Key
Executive Supplemental Benefit Agreement, as assumed by Centura Banks, Inc. (the
"KESBA"), the Peoples Bancorporation Supplemental Executive Retirement Plan, as
assumed by Centura Banks, Inc. (the "Peoples SERP"), or the Planters National
Bank and Trust Company Excess Benefit Plan, which has been assumed, amended,
restated and renamed by Centura as the Centura Banks, Inc. Excess Benefit Plan
(the "Excess Benefit Plan"); and

     WHEREAS, Centura has established the Centura Banks, Inc. Omnibus
Supplemental Executive Retirement Plan (the "Omnibus SERP"), the terms of which
Omnibus SERP are incorporated herein by reference; and

     WHEREAS, Participant has previously entered into a SERP Agreement dated
April 5, 1994 and has obtained thereunder certain rights and benefits under the
Omnibus SERP in exchange for the relinquishment of all his rights under the
KESBA, Peoples SERP, and Excess Benefit Plan; and

     WHEREAS, Participant now wishes to relinquish his rights and benefits under
the SERP Agreement dated April 5, 1994 (the "1994 SERP Agreement"), subject to
certain reinstatement provisions, in exchange for benefits described hereunder;

     NOW, THEREFORE, in consideration of the premises and of the mutual
covenants contained herein, the parties hereto hereby agree as follows:
<PAGE>

1.   RETIREMENT BENEFITS.  Participant may elect Early Retirement at any time
     -------------------
     during the ninety (90) day period beginning on his 58/th/ birthday (the
     "Election Period"). Participant shall not be entitled to Retirement
     benefits hereunder unless he elects Early Retirement and actually retires
     during the Election Period.

     Subject to the provisions of this Agreement and the Omnibus SERP, upon
     Participant's Early Retirement during the Election Period, Participant
     shall receive a monthly Retirement benefit equal to 40% of Participant's
     Final Average Monthly Compensation, payable for a period of one hundred and
     eighty (180) months. For purposes of this Agreement, "Final Average Monthly
     Compensation" means 1/12/th/ of the Annual Compensation payable to
     Participant as of his termination of employment. "Annual Compensation"
     means Participant's total compensation to be reported on his Form W-2,
     annualized on the basis of rate of pay as of Participant's termination of
     employment, including bonuses and salary reduction contributions to
     deferred compensation or other plans maintained by Centura.

2.   DEATH BENEFITS.  If Participant dies at any time before electing Early
     --------------
     Retirement under Section 1 and while actively employed as a full-time
     officer of the Bank, Participant's beneficiary shall receive a monthly
     death benefit equal to forty percent (40%) of Participant's Final Average
     Monthly Compensation at the time of his death, payable for a period of one
     hundred and eighty (180) months beginning on the first day of the month
     coinciding with or next following Participant's date of death.
     Participant's beneficiary will not be entitled to any death benefits under
     the Omnibus SERP if Participant dies by committing suicide within two years
     from the date of becoming a Participant under the Omnibus SERP and this
     Agreement.

     If Participant's beneficiary dies before the end of the death benefit
     payment period specified hereunder, the remaining payments due under this
     Section 2 shall be paid to the beneficiary's estate in a lump sum payment
     equivalent in value to the remaining death benefit payments. If
     Participant's beneficiary predeceases Participant and Participant does not
     thereafter designate a new beneficiary, upon Participant's death a lump sum
     equivalent in value to the death benefit payments hereunder shall be paid
     to Participant's estate. The lump sum equivalent shall be computed using
     the Discount Rate in effect at the time of computation.

3.   DISABILITY BENEFITS.  If, prior to Participant's electing Early Retirement
     -------------------
     under Section 1 and after Participant has completed at least ten (10) years
     of employment with the Bank, Participant's employment with the Bank is
     terminated as a result of Disability, Participant shall receive a monthly
     Disability benefit in an amount equal to (a) minus (b) below:

     (a)  Forty percent (40%) of Participant's Final Average Monthly
          Compensation, less

                                       2
<PAGE>

     (b)  The amount of any monthly disability benefit payable to the
          Participant under any group or individual disability income policy
          sponsored by the Bank or Centura.

     In the event Disability benefit payments terminate pursuant to subsections
     (a), (b) or (c) of Section 6.3 of the Omnibus SERP and before Participant
     has received one hundred and eighty (180) monthly payments under this
     Section 3, the remaining payments shall be recharacterized as Retirement or
     death benefits and shall be paid to Participant (or his beneficiary) or
     estate in accordance with Section 1 or 2 of this Agreement, as the case may
     be) provided that the amount of each payment to Participant shall continue
     to be governed by this Section 3, and provided further that the amount of
     any payment recharacterized as a death benefit shall be equal to the last
     payment made to Participant before his death.

4.   EXCESS BENEFITS.  The Excess Benefit provisions of Article VII of the
     ---------------
     Omnibus SERP

     _____ Apply to Participant.

       X   Do not apply to Participant.
     -----

5.   DESIGNATION OF BENEFICIARIES.  The Participant shall designate his or her
     ----------------------------
     beneficiary(ies) on the Beneficiary Designation Form attached hereto and
     made a part hereof.

6.   CHANGE IN CONTROL.  Upon a change in control, as defined in Section 8.3 of
     -----------------
     the Omnibus SERP, the Participant's rights and accrued benefits under the
     Omnibus SERP and this Agreement shall be fully vested. Accordingly:

     (a)  for purposes of Section 1 of this Agreement, if Participant is no
          longer employed by Bank as of his 58/th/ birthday, he shall
          nevertheless be entitled to elect during the Election Period to begin
          receiving his Retirement Benefit. Participant's Final Average Monthly
          Compensation shall be determined by reference to his Annual
          Compensation as of his actual termination of employment;

     (b)  for purposes of Section 2 of this Agreement, the requirement that
          Participant be actively employed as a full-time officer of Bank shall
          be disregarded. Participant's Final Average Monthly Compensation shall
          be determined by reference to his Annual Compensation as of his actual
          termination of employment; and

     (c)  for purposes of Section 3 of this Agreement, Participant shall be
          deemed to have completed ten (10) years of employment with Bank. If
          Participant is no longer employed by Bank at the time of his
          Disability, he shall nevertheless be entitled to Disability Benefits
          under Section 3. Participant's Final Average Monthly Compensation
          shall be determined

                                       3
<PAGE>

          by reference to his Annual Compensation as of his actual termination
          of employment.

7.   TERMINATION OF EMPLOYMENT AND FORFEITURE.  Prior to the occurrence of a
     ----------------------------------------
     change in control, as defined in Section 8.3 of the Omnibus SERP, Centura
     and the Bank may terminate the Participant's employment for "cause" as
     defined in paragraph 8.5 of the Omnibus SERP and upon such termination,
     Participant shall forfeit all rights and benefits under this Agreement
     (including but not limited to residual rights and benefits, if any, under
     the 1994 SERP Agreement), except those benefits provided pursuant to
     Section 4 above and Article VII of the Omnibus SERP. Notwithstanding the
     foregoing, the Participant's rights and benefits hereunder shall not be
     subject to forfeiture at any time after the occurrence of an event
     entitling the Participant to begin receiving benefits pursuant to Sections
     1, 2 or 3 hereunder or under the 1994 SERP Agreement (pursuant to the
     operations of Section 9(j) of this Agreement).

8.   PLAN TERMINATION.  In the event of the termination of the Plan, pursuant to
     ----------------
     Section 14.6 of the Plan, prior to the Participant's death, Retirement or
     Disability under Sections 1, 2 or 3 hereof, the Participant shall become
     fully vested in his Retirement Benefits under Section 1 of this Agreement,
     and shall become entitled to payment in a single sum of the actuarial
     equivalent of his Retirement Benefits under Section 1 and his Excess
     Benefits under Section 4, determined using the Discount Rate and payable as
     soon as administratively possible after the termination of the Plan. In the
     event of the termination of the Plan, pursuant to Section 14.6 of the Plan,
     after benefit payments have commenced hereunder, the Participant (or his
     beneficiaries) shall become entitled to payment in a single sum of the
     actuarial equivalent of the remaining payments due hereunder, determined
     using the Discount Rate and payable as soon as administratively possible
     after the termination of the Plan.

9.   GENERAL PROVISIONS.  (a) This Agreement, together with the Omnibus SERP,
     ------------------
     the terms of which are incorporated herein by reference, set forth all of
     the promises, agreements, conditions, understandings, warranties, and
     representations between the parties with respect to the benefits described
     hereunder, and there are no promises, agreements, conditions,
     understandings, warranties, or representations, oral or written, express or
     implied with respect to the benefits hereunder other than as set forth in
     the Omnibus SERP and this Agreement. Any modifications or any waivers of
     any provision contained in this Agreement shall not be valid unless made in
     writing and signed by the person or persons sought to be bound by such
     waiver or modification.

     (b)  All benefits hereunder shall be payable from the general assets of the
     Bank. All costs or expenses in connection with the administration of this
     Agreement shall be borne by the Bank.

     (c)  The provisions of this Agreement are severable and if any one or more
     of the provisions are determined to be illegal or otherwise unenforceable,
     in whole or in

                                       4
<PAGE>

     part, the remaining provisions, and any partially unenforceable provision
     to the extent enforceable in any jurisdiction, shall nevertheless be
     binding and enforceable.

     (d)  The waiver by Centura of a breach by the Participant of any provision
     of this Agreement shall not operate or be construed as a waiver of any
     subsequent breach by the Participant.

     (e)  The terms and provisions of this Agreement shall be binding upon and
     shall inure to the benefit of the parties hereto and their successors and
     assigns, including, without limitation, Participant's beneficiary, the
     estate of Participant, as well as the executors, administrators, and
     trustees of such estate.

     (f)  Participant acknowledges that he has received, read, and is familiar
     with the Omnibus SERP, which contains certain additional provisions
     governing the benefits granted hereunder. Participant further agrees to
     relinquish any rights and benefits granted to him under the 1994 SERP
     Agreement, except to the extent provided in subsection (j) below.

     (g)  The provisions of this Agreement shall be construed in accordance with
     the laws of the State of North Carolina to the extent not pre-empted by the
     laws of the United States of America, including ERISA.

     (h)  Capitalized terms used in this Agreement and not otherwise defined
     herein shall have the meaning set forth in the Omnibus SERP.

     (i)  For purposes of this Agreement, the term "Discount Rate" means the
     interest rate used from time to time for determining single sum
     distributions under the Qualified Plan for the month in which a
     determination is being made.

     (j)  This Agreement and all benefits provided hereunder shall expire on the
     91st day after Participant's 58/th/ birthday unless Participant has elected
     Early Retirement within the Election Period or Participant's benefits have
     otherwise commenced under Sections 2 or 3. Upon expiration of this
     Agreement pursuant to this subsection, Participant's SERP benefits shall be
     determined in accordance with the 1994 SERP Agreement, a copy of which is
     attached hereto. Notwithstanding the foregoing, the provisions of Section 7
     of this SERP Agreement shall remain in effect and the Participant's rights
     and benefits under his 1994 SERP Agreement shall be subject to forfeiture
     as provided in Section 7 of this SERP Agreement.

     (k)  Any amounts withdrawn from the cash surrender values of insurance
     policies by the owner thereof, and any amounts paid to the owner or the
     owner's beneficiary by reason of the Participant's death, pursuant to and
     in accordance with the Split Dollar Agreement between Centura Banks, Inc.
     and its Subsidiaries and the Participant, and dated as of ___________,
     ____, as the same may hereafter be amended from time to time (the "Split
     Dollar Agreement"), shall offset and reduce, dollar for dollar, amounts
     payable hereunder including amounts

                                       5
<PAGE>

     payable under paragraph 4, above or any amounts payable under Participant's
     1994 SERP Agreement pursuant to paragraph 9(j) above. Participant
     acknowledges that any policies obtained under the above-referenced Split
     Dollar Agreement do not fund any of the benefits to which he or his
     beneficiary may become entitled under this Agreement or under the 1994 SERP
     Agreement and that any such policy shall not be held or deemed to be held
     under any trust for the benefit of the Participant, or his beneficiary, or
     to be collateral security for the performance of the obligations of Centura
     or the Bank, but shall be and remain subject to the claims of the general
     creditors of Centura and/or the Bank.

     (l)  To the extent benefits upon the Participant's death are payable under
     this Agreement or under Participant's 1994 SERP Agreement, in a form other
     than a single lump sum payment, the offset and reduction required by
     paragraph 9(k) above shall be based on the lump sum actuarial equivalent of
     any remaining installment or annuity payments due hereunder, determined
     using the Discount Rate. The owner's death benefits paid to the owner or
     the owner's beneficiary under the terms of the Split Dollar Agreement shall
     offset and reduce the amount of each remaining installment or annuity
     payment due hereunder, in direct proportion to the offset and reduction to
     the lump sum actuarial equivalent.

     (m)  In accordance with Section 3.3 of the Omnibus SERP, the Committee
     shall have the exclusive right to interpret, construe and administer the
     Omnibus SERP and this Agreement. The Committee's authority and
     responsibility shall include, and shall not be limited to, the calculation
     of any offsets provided under the terms of Sections 1, 2, 3 or 4 hereunder.

                                       6
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the day and year first above written.

                                        CENTURA BANKS, INC.

                                        By: /s/ Frank L. Pattillo
                                            ---------------------------
                                                  Vice Chairman
ATTEST:

/s/ Lynn O. Parrish
------------------------
  Secretary

(Corporate Seal)
                                        CENTURA BANK

                                        By: /s/ Frank L. Pattillo
                                            ---------------------------
                                                  Vice Chairman
ATTEST:

/s/ Lynn O. Parrish
------------------------
  Secretary

(Corporate Seal)
                                        PARTICIPANT

                                        /s/ H. Kel Landis III          (SEAL)
                                        -------------------------------

                                       7<PAGE>

Exhibit 10.57
                              CENTURA BANKS, INC.
                  SUPPLEMENTAL EXECUTIVE RETIREMENT AGREEMENT
                                   UNDER THE
                   CENTURA BANKS, INC. OMNIBUS SUPPLEMENTAL
                           EXECUTIVE RETIREMENT PLAN

     This AGREEMENT, made effective this 27th day of December, 1999, by and
among Centura Banks, Inc., a North Carolina corporation having its principal
place of business in Rocky Mount, North Carolina ("Centura"), Centura Bank (the
"Bank"), a subsidiary of Centura, and Scott M. Custer ("Participant"), an
employee of the Bank.

                             W I T N E S S E T H :

     WHEREAS, Participant is a valued employee of the Bank and as such, has
performed his duties in a capable and efficient manner, resulting in substantial
growth and progress to the Bank; and

     WHEREAS, the Participant is expected to perform valuable services in the
future which shall be of special importance to the Bank and for which it would
be difficult for the Bank to find a suitable replacement; and

     WHEREAS, Centura has established the Centura Banks, Inc. Omnibus
Supplemental Executive Retirement Plan (the "Omnibus SERP"), the terms of which
Omnibus SERP are incorporated herein by reference; and

     WHEREAS, Centura's Compensation Committee has determined that the
Participant is eligible to participate in the Omnibus SERP, and now deems it
advisable to offer to Participant certain rights and benefits under the Omnibus
SERP and this Agreement;

     NOW, THEREFORE, in consideration of the premises and of the mutual
covenants contained herein, the parties hereto hereby agree as follows:

     1.   RETIREMENT BENEFITS.  Upon Participant's Normal Retirement,
          -------------------
          Participant shall receive a monthly Retirement benefit equal to 40% of
          Participant's Final Average Monthly Compensation, payable for a period
          of one hundred and eighty (180) months.  For purposes of this
          Agreement, "Final Average Monthly Compensation" means 1/12/th/ of the
          Annual Compensation payable to Participant as of his termination of
          employment.  "Annual Compensation" means Participant's total
          compensation to be reported on his Form W-2, annualized on the basis
          of rate of pay as of Participant's termination of employment,
          including bonuses and salary reduction contributions to deferred
          compensation or other plans maintained by Centura.

          Participant may elect Early Retirement between the ages of 60 and 65
          after Participant has completed at least ten (10) years of employment
          with the Bank.
<PAGE>

          Upon Participant's Early Retirement, Participant shall receive a
          monthly Retirement benefit payable for a period of one hundred and
          eighty (180) months. The monthly Early Retirement benefit shall be
          determined as follows:

                                            % of Monthly Normal Retirement
               Age at Retirement                     Benefit Amount
               -----------------                     --------------

                       64                                  95%
                       63                                  90%
                       62                                  85%
                       61                                  80%
                       60                                  75%

     2.   DEATH BENEFITS.  If Participant dies before his Retirement and while
          --------------
          actively employed as a full-time officer of the Bank, Participant's
          beneficiary shall receive a monthly death benefit equal to forty
          percent (40%) of Participant's Final Average Monthly Compensation at
          the time of his death, payable for a period of one hundred and eighty
          (180) months beginning on the first day of the month coinciding with
          or next following Participant's date of death.  Participant's
          beneficiary will not be entitled to any death benefits under the
          Omnibus SERP if Participant dies by committing suicide within two
          years from the date of becoming a Participant under the Omnibus SERP
          and this Agreement.

          If Participant's beneficiary dies before the end of the death benefit
          payment period specified hereunder, the remaining payments due under
          this Section 2 shall be paid to the beneficiary's estate in a lump sum
          payment equivalent in value to the remaining death benefit payments.
          If Participant's beneficiary predeceases Participant and Participant
          does not thereafter designate a new beneficiary, upon Participant's
          death a lump sum equivalent in value to the death benefit payments
          hereunder shall be paid to Participant's estate.  The lump sum
          equivalent shall be computed using the Discount Rate in effect at the
          time of computation.

     3.   DISABILITY BENEFITS.  If, prior to Retirement and after Participant
          -------------------
          has completed at least ten (10) years of employment with the Bank,
          Participant's employment with the Bank is terminated as a result of
          Disability, Participant shall receive a monthly Disability benefit
          payable for a period of one hundred and eighty (180) months in an
          amount equal to (a) minus (b) below:

          (a)  Forty percent (40%) of Participant's Final Average Monthly
               Compensation, less

          (b)  The amount of any monthly disability benefit payable to the
               Participant under any group or individual disability income
               policy sponsored by the Bank or Centura.

          Disability benefit payments shall terminate as provided in the Omnibus
          SERP.

                                       2
<PAGE>

          In the event Disability payments terminate pursuant to terms of the
          Omnibus SERP and before Participant has received one hundred and
          eighty monthly payments under this Section 3, the remaining payments
          shall be recharacterized as retirement or death benefits and shall be
          paid to Participant (or his beneficiary) or estate in accordance with
          Sections 1 or 2 of this Agreement, as the case may be, provided that
          the amount of each payment shall continue to be governed by this
          Section 3, and provided further that the amount of any payment
          recharacterized as a death benefit shall be equal to the last payment
          made to Participant before his death.

     4.   EXCESS BENEFITS.  The Excess Benefit provisions of Article VII of the
          ---------------
          Omnibus SERP

          _____ Apply to Participant.

          _____ Do not apply to Participant.

     5.   DESIGNATION OF BENEFICIARIES.  The Participant shall designate his or
          ----------------------------
          her beneficiary(ies) on the Beneficiary Designation Form attached
          hereto and made a part hereof.

     6.   CHANGE IN CONTROL.  Upon a change in control, as defined in Section 8.
          -----------------
          3 of the Omnibus SERP, the Participant's rights and accrued benefits
          under the Omnibus SERP and this Agreement shall be fully vested.
          Accordingly:

          (a)  for purposes of Section 1 of this Agreement, if Participant is no
               longer employed by Bank, he shall nevertheless be entitled to
               begin receiving his Retirement Benefit upon reaching age 65 or
               Participant may elect to begin receiving Early Retirement
               benefits at the ages and percentages set forth in Section 1.
               Participant's Final Average Monthly Compensation shall be
               determined by reference to his Annual Compensation as of his
               actual termination of employment;

          (b)  for purposes of Section 2 of this Agreement, the requirement that
               Participant be actively employed as a full-time officer of Bank
               shall be disregarded. Participant's Final Average Monthly
               Compensation shall be determined by reference to his Annual
               Compensation as of his actual termination of employment; and

          (c)  for purposes of Section 3 of this Agreement, Participant shall be
               deemed to have completed ten (10) years of employment with Bank.
               If Participant is no longer employed by Bank at the time of his
               Disability, he shall nevertheless be entitled to Disability
               Benefits under Section 3. Participant's Final Average Monthly
               Compensation shall be determined by reference to his Annual
               Compensation as of his actual termination of employment.

                                       3
<PAGE>

     7.   TERMINATION OF EMPLOYMENT AND FORFEITURE.  Prior to the occurrence of
          ----------------------------------------
          a change in control, as defined in Section 8.3 of the Omnibus SERP,
          Centura and the Bank may terminate the Participant's employment for
          "cause" as defined in paragraph 8.5 of the Omnibus SERP and upon such
          termination, Participant shall forfeit all rights and benefits under
          this Agreement except those benefits provided pursuant to Section 4
          above and Article VII of the Omnibus SERP.  Notwithstanding the
          foregoing, the Participant's rights and benefits hereunder shall not
          be subject to forfeiture at any time after the occurrence of an event
          entitling the Participant to begin receiving benefits pursuant to
          Sections 1, 2 or 3 hereunder.  Section 8.2 of the Omnibus SERP shall
          apply in the event of termination by Centura or the Bank "without
          cause."

     8.   PLAN TERMINATION.  In the event of the termination of the Plan,
          ----------------
          pursuant to Section 14.6 of the Plan, prior to the Participant's
          death, Retirement or Disability under Sections 1, 2 or 3 hereof, the
          Participant shall become fully vested in his Retirement Benefits under
          Section 1 of this Agreement, and shall become entitled to payment in a
          single sum of the actuarial equivalent of his normal Retirement
          Benefits under Section 1 and his Excess Benefits under Section 4,
          determined using the Discount Rate and payable as soon as
          administratively possible after the termination of the Plan.  In the
          event of the termination of the Plan, pursuant to Section 14.6 of the
          Plan, after benefit payments have commenced hereunder, the Participant
          (or his beneficiaries) shall become entitled to payment in a single
          sum of the actuarial equivalent of the remaining payments due
          hereunder, determined using the Discount Rate and payable as soon as
          administratively possible after the termination of the Plan.

     9.   GENERAL PROVISIONS.  (a) This Agreement, together with the Omnibus
          ------------------
          SERP, the terms of which are incorporated herein by reference, set
          forth all of the promises, agreements, conditions, understandings,
          warranties, and representations between the parties with respect to
          the benefits described hereunder, and there are no promises,
          agreements, conditions, understandings, warranties, or
          representations, oral or written, express or implied with respect to
          the benefits hereunder other than as set forth in the Omnibus SERP and
          this Agreement.  Any modifications or any waivers of any provision
          contained in this Agreement shall not be valid unless made in writing
          and signed by the person or persons sought to be bound by such waiver
          or modification.

          (b)  All benefits hereunder shall be payable from the general assets
          of the Bank. All costs or expenses in connection with the
          administration of this Agreement shall be borne by the Bank.

          (c)  The provisions of this Agreement are severable and if any one or
          more of the provisions are determined to be illegal or otherwise
          unenforceable, in whole or in part, the remaining provisions, and any
          partially unenforceable provision to the extent enforceable in any
          jurisdiction, shall nevertheless be binding and enforceable.

                                       4
<PAGE>

          (d)  The waiver by Centura of a breach by the Participant of any
          provision of this Agreement shall not operate or be construed as a
          waiver of any subsequent breach by the Participant.

          (e)  The terms and provisions of this Agreement shall be binding upon
          and shall inure to the benefit of the parties hereto and their
          successors and assigns, including, without limitation, Participant's
          beneficiary, the estate of Participant, as well as the executors,
          administrators, and trustees of such estate.

          (f)  Participant acknowledges that he has received, read, and is
          familiar with the Omnibus SERP, which contains certain additional
          provisions governing the benefits granted hereunder.

          (g)  The provisions of this Agreement shall be construed in accordance
          with the laws of the State of North Carolina to the extent not pre-
          empted by the laws of the United States of America, including ERISA.

          (h)  Capitalized terms used in this Agreement and not otherwise
          defined herein shall have the meaning set forth in the Omnibus SERP.

          (i)  For purposes of this Agreement, the term "Discount Rate" means
          the interest rate used from time to time for determining single sum
          distributions under the Qualified Plan for the month in which a
          determination is being made.

          (j)  Any amounts withdrawn from the cash surrender values of insurance
          policies by the owner thereof, and any amounts paid to the owner or
          the owner's beneficiary by reason of the Participant's death, pursuant
          to and in accordance with the Split Dollar Agreement between Centura
          Banks, Inc. and its Subsidiaries and the Participant, and dated as of
          December 27, 1999, as the same may hereafter be amended from time to
          time (the "Split Dollar Agreement"), shall offset and reduce, dollar
          for dollar, amounts payable hereunder including amounts payable under
          paragraph 4, above. Participant acknowledges that any policies
          obtained under the above-referenced Split Dollar Agreement do not fund
          any of the benefits to which he or his beneficiary may become entitled
          under this Agreement and that any such policy shall not be held or
          deemed to be held under any trust for the benefit of the Participant,
          or his beneficiary, or to be collateral security for the performance
          of the obligations of Centura or the Bank, but shall be and remain
          subject to the claims of the general creditors of Centura and/or the
          Bank."

          (k)  To the extent benefits upon the Participant's death are payable
          under this Agreement, in a form other than a single lump sum payment,
          the offset and reduction required by paragraph 9(j) above shall be
          based on the lump sum actuarial equivalent of any remaining
          installment or annuity payments due hereunder, determined using the
          Discount Rate. The owner's death benefits paid to the owner or the
          owner's beneficiary under the terms of the Split Dollar Agreement
          shall offset and reduce the amount of each remaining installment or

                                       5
<PAGE>

          annuity payment due hereunder, in direct proportion to the offset and
          reduction to the lump sum actuarial equivalent.

          (l)  In accordance with Section 3.3 of the Omnibus SERP, the Committee
          shall have the exclusive right to interpret, construe and administer
          the Omnibus SERP and this Agreement. The Committee's authority and
          responsibility shall include, and shall not be limited to, the
          calculation of any offsets provided under the terms of Sections 1, 2,
          3 or 4 hereunder.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the day and year first above written.

                                        CENTURA BANKS, INC.

                                        By: /s/ Frank L. Pattillo
                                            ---------------------------
                                                  Vice Chairman
ATTEST:

/s/ Lynn O. Parrish
------------------------
 Assistant Secretary

(Corporate Seal)
                                        CENTURA BANK

                                        By: /s/ Frank L. Pattillo
                                            ---------------------------
                                                  Vice Chairman
ATTEST:

/s/ Lynn O. Parrish
------------------------
 Assistant Secretary

(Corporate Seal)
                                        PARTICIPANT

                                        /s/ Scott M. Custer            (SEAL)
                                        -------------------------------
                                                  Scott M. Custer

                                       6

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