Document:

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                                                                   EXHIBIT 10(g)

STATE OF ALABAMA           )

JEFFERSON COUNTY           )

                             SOUTHTRUST CORPORATION
                             WALLACE D. MALONE, JR.
              NONQUALIFIED DEFERRED COMPENSATION PLAN AND AGREEMENT

         SOUTHTRUST CORPORATION, a Delaware corporation with its principal place
of business in Birmingham, Alabama ("SouthTrust") hereby adopts and publishes as
of the 1st day of February, 1998, the SouthTrust Corporation Wallace D. Malone,
Jr. Nonqualified Deferred Compensation Plan and Agreement (the "Plan"), as
follows:

                              W I T N E S S E T H:

         WHEREAS, Wallace D. Malone, Jr. ("Malone") currently serves as chairman
of the Board and Chief Executive Officer of SouthTrust; and

         WHEREAS, Malone is currently eligible to retire with full retirement
benefits pursuant to that certain Employment Agreement by and between Malone and
SouthTrust and in accordance with SouthTrust's other policies and compensation
plans; and

         WHEREAS, SouthTrust desires to retain Malone as its Chief Executive
Officer for an additional five year period; and

         WHEREAS, Malone and SouthTrust have agreed that, in addition to other
forms of compensation otherwise agreed to between them, as additional
compensation, consideration and inducement, SouthTrust shall provide as deferred
compensation for Malone 200,000 shares of SouthTrust Common Capital Stock (the
"Stock") to be transferred to Malone for his services to be performed on behalf
of SouthTrust during the five year period of time, and pursuant to the terms and
provisions set forth in this Plan, the rules and regulations of the Internal
Revenue Code of 1986, as amended, and the rules and regulations of the Employee
Retirement Income Security Act of 1974, as amended ("ERISA"); and

         WHEREAS, it is intended that the Plan shall remain unfunded for
purposes of Title I of ERISA and for tax purposes;

         NOW, THEREFORE, IN CONSIDERATION OF THE ABOVE PREMISES, and the mutual
covenants hereinafter set forth, faithfully to be kept by the parties hereto,
SouthTrust hereby establishes and adopts the SouthTrust Corporation Wallace D.
Malone, Jr. Nonqualified Deferred Compensation Plan and Agreement, as an
unfunded arrangement to provide the Benefit (as defined below) to Malone
pursuant to this Plan.

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                                    ARTICLE 1

                                     PURPOSE

         The Plan is intended to be an unfunded arrangement for purposes of
Sections 201(2), 301(a)(3) and 401(a)(1) of Title I of ERISA to provide a method
to encourage Malone, who is a highly compensated and key employee, to remain
employed for an additional five (5) years and to provide financial security for
Malone upon his retirement or Disability (as defined below) and for his
beneficiaries in the event of death by deferring payment to Malone of his
Benefit as provided herein and to enhance and promote the growth and success of
SouthTrust by providing an incentive to Malone to continue to contribute to
SouthTrust's growth and success and thereby benefit SouthTrust's shareholders.

                                    ARTICLE 2

                                   DEFINITIONS

         2.1      "Administrator" means the Human Resource Committee of the
Board.

         2.2      "Beneficiary" means the individual, individuals or entity
designated in writing by Malone on the Beneficiary Designation Form attached
hereto as Exhibit "A" and who is entitled to be paid the balance of the Benefit.

         2.3      "Benefit" means 200,000 shares of Stock as of the Effective
Date and any and all earnings and dividends declared on such Stock, such
earnings and dividends to be reinvested in Stock as of the date of such payment.
In addition, if the Stock is changed after the Effective Date by reason of a
stock split, reverse stock split, stock dividend or recapitalization,
appropriate adjustments shall be made in the number and class of Stock subject
to the Plan; provided, however, that SouthTrust shall not be required to issue
fractional shares as a result of such adjustment.

         2.4      "Board" means the Board of Directors of SouthTrust.

         2.5      "Change in Control" means any one or more of the following: 1)
when any person, or group of persons, directly or indirectly, becomes the
beneficial owner, or obtains the right to acquire securities of SouthTrust
representing fifty percent (50%) or more of the combined voting power of
SouthTrust's outstanding voting stock; 2) when there is a change in the majority
of the members of the Board within any twenty-four month period; 3) when there
is consummated any merger or consolidation which would result in a Change in
Control of SouthTrust; 4) upon the adoption of any plan or proposal for the
liquidation or dissolution of SouthTrust; or 5) upon the sale of substantially
all of the assets of SouthTrust to any person, or group of persons.

         2.6      "Code" means the Internal Revenue Code of 1986, as amended.

         2.7      "Director" means a member of the Board of Directors of
SouthTrust.

         2.8      "Disability" and "Disabled" mean a total and permanent injury
or illness that prevents Malone from performing substantially all of the
material duties of his position for a continuous period of twelve (12) months.

         2.9      "Earned" means the portion of Malone's Benefit that is
nonforfeitable.

                                        2
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         2.10     "Effective Date" of the Plan means the 1st day of February,
1998.

         2.11     "ERISA" means the Employee Retirement Income Security Act of
1974, as amended.

         2.12     "Malone" means Wallace D. Malone, Jr.

         2.13     "Plan" means the SouthTrust Corporation Wallace D. Malone, Jr.
Nonqualified Deferred Compensation Plan and Agreement established by this
document and any related documents executed by Malone.

         2.14     "Plan Year" means the period of twelve (12) consecutive months
beginning on the Effective Date and ending on the last day of January, both
dates inclusive.

         2.15     "Potential Change in Control" means SouthTrust entering into
an agreement, the consummation of which would result in a Change in Control.

         2.16     "SouthTrust" means SouthTrust Corporation, a corporation
organized and existing under the laws of the State of Delaware, with its
principal place of business in Birmingham, Alabama, and any corporate successor
thereto, whether by merger, consolidation, liquidation, or otherwise.

         2.17     "Stock" means shares of SouthTrust Corporation common capital
stock.

         2.18     "Trust" means the trust created simultaneously herewith to
contribute assets to be held therein, subject to the claims of SouthTrust's
creditors until paid to Malone or his Beneficiaries.

                                    ARTICLE 3

                                   ELIGIBILITY

         Malone, as an individual employee of SouthTrust, who is a highly
compensated employee as defined in Section 414(q) of the Code, shall be the only
individual eligible to participate in the Plan.

                                    ARTICLE 4

                   ESTABLISHMENT AND OWNERSHIP OF THE BENEFIT

         4.1      Establishment of Accounts. SouthTrust shall establish a
special bookkeeping account for Malone which shall be credited as of the
Effective Date with an amount equal to the Benefit as provided under Section
4.2.

         4.2      Funding. Malone's account shall be credited with the Benefit
as of the Effective Date and any earnings and dividends that relate to the Stock
credited to Malone's account as the Benefit, as well as any adjustment of the
Benefit by reason of a stock split, reverse stock split, stock dividend or
recapitalization which shall be credited as of the Effective Date to Malone's
account. SouthTrust shall transfer to the trustee of the Trust a sufficient
number of shares of Stock or sufficient cash to purchase

                                        3

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Stock equal to the Benefit as of the Effective Date and at any time thereafter
to fund the Benefit. In the event cash is transferred, the Trustee shall be
directed to promptly purchase and hold Stock.

         4.3      Ownership Of Benefit. Until paid to Malone or his Beneficiary,
all assets allocated to Malone's account, including all property and rights
purchased with such amounts, and all income attributable to such amounts,
property, or rights, shall remain solely the property and rights of SouthTrust,
subject only to the claims of any general creditors of SouthTrust.

         4.4      Forfeiture of Benefits. Benefits shall be forfeited upon a
termination of employment for any reason whatsoever, either voluntary or
involuntary, prior to January 31, 2003, except for a termination of employment
as a result of a Disability or upon the death of Malone or upon a Change in
Control.

         4.5      Reports. As of the close of each Plan Year, SouthTrust shall
issue to Malone a report reflecting the current number of shares of Stock
credited to his account.

                                    ARTICLE 5

                               PAYMENT OF BENEFITS

         5.1      Payment of Benefit. If Malone terminates his employment with
SouthTrust at the end of business on January 31, 2003, which is the date that
the Benefit is Earned, then Malone shall receive payment in one lump sum in
Stock as soon as administratively possible in the year following the year of
such termination. If Malone remains employed by SouthTrust in any capacity after
January 31, 2003, then Malone shall receive payment in one lump sum in Stock no
later than March 15 of the year following the year of termination.

         5.2      Death, Disability or Change in Control Benefit. If Malone
becomes Disabled, dies or there is a Change in Control, Malone shall have Earned
the Benefit, and the Benefit shall be paid, in the case of his Disability or
Change in Control, either to Malone or to his designated Beneficiary, as
provided in his Beneficiary Designation Form attached hereto as Exhibit "A,"
and, in the case of his death, either to the estate of Malone or to his
designated Beneficiary, as provided in his Beneficiary Designation Form attached
hereto as Exhibit "A." Payment under Section 5.2 shall be made in one lump sum
in Stock. With regard to the Benefit payable either upon the death or Disability
only of Malone, the Benefit shall be payable to Malone or his Beneficiary in the
year following the year of termination. In the case of a Change in Control,
payment of the Benefit shall commence not later than the first day of the
calendar month next following the date after there is a Change in Control.

         5.3      Termination of Plan. This Plan may not be terminated.

         5.4      Beneficiary Designations. Malone may designate one or more
individuals or entities as his Beneficiary or change any prior designation, such
designation or change in designation to be (i) in writing, (ii) in such form as
SouthTrust shall prescribe, and (iii) retained by the Board. In the absence of a
valid Beneficiary designation by Malone, payment of death benefits will be paid
to the estate of Malone. Malone may change his designated Beneficiary, at any
time, and without the consent of the former designated Beneficiary. A
Beneficiary Designation Form is attached hereto as Exhibit "A."

                                        4
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                                    ARTICLE 6

                                 ADMINISTRATION

         6.1      Administrator. This Plan shall be administered by the
Administrator.

         6.2      Administrator's Powers and Duties. The Administrator shall
have the powers and duties to:

                  (a)      construe and interpret the provisions of the Plan;

                  (b)      adopt, amend, or revoke rules and regulations for the
administration of the Plan, provided they are not inconsistent with the
provisions of the Plan;

                  (c)      provide appropriate parties with such returns,
reports, descriptions and statements as may be required by law, within the times
prescribed by law and to make them available for examination by Malone and his
Beneficiaries when required by law;

                  (d)      take such other action as may reasonably be required
to administer the Plan in accordance with its terms or as may be provided for or
required by law;

                  (e)      withhold applicable taxes and file with the Internal
Revenue Service appropriate information returns, with respect to distributions
made from the Plan; and

                  (f)      appoint and retain such persons, including a trustee
of the Trust, as may be necessary to carry out the functions of the
Administrator.

                                    ARTICLE 7

                                  MISCELLANEOUS

         7.1      Amendment of Plan. This Plan may be modified or amended, in
whole or in part, only in writing signed by the parties hereto. No amendment or
modification to the Plan shall reduce or impair Malone's or his Beneficiary's
Benefit which is attributable to services performed prior to the amendment.

         7.2      Unsecured Promise. SouthTrust and Malone acknowledge that this
Plan shall create only an unsecured promise by SouthTrust to Malone to pay the
Benefit provided herein. Until the occurrence of a distribution event, at which
point Malone shall be entitled to receive amounts provided hereunder, all such
amounts shall remain solely the property of SouthTrust, subject only to the
claims of SouthTrust's general creditors.

         7.3      Assignment of Rights to Benefits. Malone's rights to the
Benefit under the Plan shall not be subject in any manner to anticipation,
alienation, sale, transfer, assignment, pledge, encumbrance, attachment or
garnishment by Malone, by creditors of Malone or Malone's Beneficiary.

                                       5
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         7.4      Unfunded Plan. It is the intention of SouthTrust and Malone
that the Plan be unfunded for tax purposes and for purposes of Title I of ERISA.

         7.5      Right to Employment. This Plan shall not be construed as
giving Malone any right to continued employment with SouthTrust.

         7.6      Binding Nature of the Plan. The Plan shall be binding upon and
inure to the benefit of SouthTrust, its successors and assigns, Malone, his
Beneficiary and their heirs and legal representatives.

         7.7      Written Notice. Any notice or other communication required or
permitted under the Plan shall be in writing. If directed to SouthTrust, the
notice or communication shall be sent to the Board of SouthTrust at the
principal executive offices of SouthTrust. If directed to Malone, it shall be
sent to Malone at the last known address as it appears on SouthTrust's records
or, if Malone is employed by SouthTrust, at the work site, at SouthTrust's
option. If directed to a Beneficiary, it shall be sent to such Beneficiary at
the last known address as it appears on SouthTrust's records.

         7.8      Entire Plan. This Plan, as completed and executed by
SouthTrust and Malone, and the Beneficiary Designation shall constitute the
entire Plan between SouthTrust and Malone.

         7.9      Controlling Law. This Plan shall be construed in accordance
with the laws of the State of Alabama.

         7.10     Expenses. The costs of administering the Plan will be paid by
SouthTrust.

         7.11     Captions. The captions or headings in this Plan are made for
convenience and general reference only and shall not be construed to describe,
define or limit the scope or intent of the provisions of this Plan.

                  [Remainder of Page Intentionally Left Blank]

                                        6
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         IN WITNESS WHEREOF, SouthTrust Corporation by and through its duly
authorized officers and Malone have caused this instrument to be executed under
seal on the day of July, 1999.

                                         SOUTHTRUST CORPORATION

                                         By: /s/ Charles Whitfield, Jr.
                                            ---------------------------
                                         Its Senior Vice President

ATTEST:

  /s/ Alton E. Yother
------------------------
Its Secretary

[CORPORATE SEAL]

  /s/ Angie Laughlin                        /s/ Wallace D. Malone, Jr.
------------------------                 -------------------------------
Witness                                  Wallace D. Malone, Jr.
<PAGE>

                                    EXHIBIT A

                          BENEFICIARY DESIGNATION FORM

BENEFICIARY DESIGNATION

         I hereby designate Wallace D. Malone, III, Catherine M. Wilson, and
Alyson D. Malone as my Beneficiaries under the Plan to receive all amounts held
for me under the Plan which have not been paid to me at the date of my death.
Each of the above-named Beneficiaries should receive an equal share of the
proceeds. In the event any of the above-named Beneficiaries does not survive me,
then such deceased Beneficiary's share shall be apportioned among his or her
lineal descendants, per stirpes, and such lineal descendants(s) shall be
designated in place of such deceased individual as my Beneficiary(ies) under the
Plan. If any of the six (6) Beneficiaries first named above shall not be living
at the time of my death, and shall have left no descendants of him or her living
at the time of my death, then such Beneficiary's share of the Plan
proceeds shall be divided among the remaining Beneficiaries named above, per
stirpes. If any individual to whom Plan proceeds shall be paid under this
Beneficiary Designation shall not have attained the age of twenty-one (21) years
at the time of distribution of the Plan proceeds to him or her, then his
share of the proceeds shall be distributed to my Executor, as custodian for such
Beneficiary under the Alabama Uniform Transfers to Minors Act. The receipt of my
Executor as such custodian shall constitute complete and final acquittance of
the Plan Administrator hereunder.

Date:       1/25/2000
     -------------------------

                                           /s/ Wallace D. Malone, Jr.
------------------------------           ------------------------------
Witness                                  Wallace D. Malone, Jr.

ACCEPTED:                                SOUTHTRUST CORPORATION

Date: January 25, 2000                   By: /s/ Charles Whitfield, Jr.
      ------------------------              ---------------------------
                                            Its Sr. Vice President
/s/ Carol Williams
------------------------------
Witness<PAGE>
                                                      EXHIBIT 10(h)
STATE OF ALABAMA

JEFFERSON COUNTY

                                   ADDENDUM TO
                             SOUTHTRUST CORPORATION
                      EXECUTIVE DEFERRED COMPENSATION PLAN

         SOUTHTRUST CORPORATION, a Corporation organized and existing under the
laws of the State of Delaware, (hereinafter called the "Employer"), hereby
publishes on this the 20th day of April, 1994 this Addendum to the SouthTrust
Corporation Executive Deferred Compensation Plan, as follows:

                              W I T N E S S E T H:

         WHEREAS, Employer, effective on October 21, 1987, established an
Executive Deferred Compensation Plan and Trust; and

         WHEREAS, the Internal Revenue Service has recently taken the position
in a private letter ruling that all employers which participate in nonqualified
deferred compensation plans are grantors under the plan and accompanying trust;
and

         WHEREAS, it is the desire of SouthTrust Corporation that the Plan and
Trust conform to the Internal Revenue Service position.

         NOW, THEREFORE, in consideration of the premises hereinabove set forth,
Employer hereby clarifies the Plan, by addendum, as follows:

         FIRST: Section 8.3 of said Plan shall be amended to read as follows:

         8.3 Unsecured Promise. SouthTrust, each Participating Employer and each
Participant acknowledges that this Agreement shall create only an unsecured
promise by SouthTrust and each Participating Employer to Participants to pay the
benefits provided herein. Until the occurrence of a distribution event, at which
point Participant shall be entitled to receive all amounts as provided
hereunder, all such amounts shall remain solely the property of SouthTrust and
each Participating Employer (with respect to the assets contributed on behalf of
its employees) subject only to the claims of the general creditors of the
Employer and each Participating Employer.

         SECOND: This Addendum shall be effective as of the date first entered
above.

         THIRD: In all other respects, said Plan is hereby ratified, confirmed
and approved.
<PAGE>

                 The Employer has caused this Addendum to be executed by its
duly authorized officer and duly attested, and its corporate seal to be hereunto
affixed on the day and year first above written.

                                    SOUTHTRUST CORPORATION

                                    By   /s/ Wallace D. Malone
                                      ----------------------------------
                                    Wallace D. Malone,
                                    Chairman and Chief Executive Officer

ATTEST:                                          (EMPLOYER)

  /s/ Aubrey D. Barnard
-------------------------
Aubrey D. Barnard,
Secretary

(CORPORATE SEAL)

                                       -2-
<PAGE>

STATE OF ALABAMA    )
JEFFERSON COUNTY    )

                              AMENDED AND RESTATED
                             SOUTHTRUST CORPORATION
                      EXECUTIVE DEFERRED COMPENSATION PLAN

         SOUTHTRUST CORPORATION, a Delaware corporation with its principal place
of business in Birmingham, Alabama (hereinafter for convenience referred to as
"SouthTrust"), hereby adopts and publishes on this the 12 day of July, 1993,
this Amended and Restated SouthTrust Corporation Executive Deferred Compensation
Plan for the benefit of those Executives of SouthTrust and any other
Participating Employer who have been designated by the Committee and elect to
participate (hereinafter for convenience referred to as "Participants"), as
follows:

                              W I T N E S S E T H:

         WHEREAS, SouthTrust has previously established the SouthTrust
Corporation Executive Deferred Compensation Plan effective the 21st day of
October, 1987 which was amended effective the 1st day of January, 1989 and again
on the 1st day of January, 1989, and amended and restated effective the 15th
day of April, 1992; and

         WHEREAS, notwithstanding the establishment of a trust, it is intended
that the Plan shall remain unfunded for purposes of Title I of ERISA and for tax
purposes.

         WHEREAS, SouthTrust has established the Trust for the Benefit of
Participants in the SouthTrust Corporation Executive Deferred Compensation Plan
(hereinafter referred to as "Trust") for the purpose of providing, upon the
occurrence of certain events, the benefits prescribed under this Plan; and

         WHEREAS, due to the establishment of the Trust, it is appropriate to
amend and restate the Plan in its entirety; and

         WHEREAS, Participants are currently certain named Executives of
SouthTrust or other Participating Employers; and

         WHEREAS, SouthTrust has determined that the Participants have performed
outstanding services for SouthTrust or other Participating Employers and as such
shall be entitled to additional retirement benefits according to the terms and
provisions set forth in this Plan and the Internal Revenue Code of 1986 as
amended.

         NOW, THEREFORE, IN CONSIDERATION OF THE ABOVE PREMISES, and the mutual
covenants hereinafter set forth, faithfully to be kept by the parties hereto, it
is agreed as follows:
<PAGE>

         1.       DEFINITIONS.

                  1.1      "Accrued Benefit" means a benefit equal to the
product of a Participant's Normal Retirement Benefit, as determined in Paragraph
6.1 hereinbelow, and a fraction, the numerator of which is the number of years
(with proportionate allowances for completed months) of Service completed by the
Participant at the date the determination is made and the denominator of which
is the number of years (with proportionate allowances for completed months) of
Service the Participant could complete if he continued to serve as an Executive
until his Normal Retirement Age, provided that a Participant's Accrued Benefit
at any time after his Normal Retirement Age shall be the same as his Accrued
Benefit at his Normal Retirement Age.

                  1.2      "Benefit Accrual Commencement Date" shall mean with
respect to each Participant the date specified as the Benefit Accrual
Commencement Date in his Participation Agreement.

                  1.3      "Beneficiary" means the individual or entity
designated in his Participation Agreement, entitled to be paid the balance of a
deceased Participant's Accrued Benefit.

                  1.4      "Board" means the Board of Directors of SouthTrust.

                  1.5      "Code" means the Internal Revenue Code of 1986, as
amended.

                  1.6      "Committee" means the Human Resources Committee of
the Board.

                  1.7      "Effective Date" means the 21st day of October, 1987.

                  1.8      "Normal Retirement Age" means the Normal Retirement
Age specified in the Participant's Participation Agreement.

                  1.9      "Participant" means an Executive of SouthTrust or a
Participating Employer who has been selected to participate by the Committee and
who has executed a valid Participation Agreement.

                  1.10     "Participating Employer" means any organization
which, together with SouthTrust, is a member of an Affiliated Group as such term
is defined in Section 1504 of the Code, which has been designated by SouthTrust
as eligible to participate in this Plan and elects to participate in this Plan.

                  1.11     "Participation Agreement" means a written instrument,
satisfactory in form and substance to the Committee, executed by the Participant
and SouthTrust or the Participating Employer, setting forth the individual terms
of participation for said Participant.

                  1.12     "Plan" means the Amended and Restated SouthTrust
Corporation Executive Deferred Compensation Plan established by this document
and as may be amended from time to time and executed by SouthTrust, and any
related documents executed by the Participant.

                  1.13     "Plan Year" means the calendar year.

                                      -2-
<PAGE>

                  1.14     "Service" shall mean the total number of years of
service (a consecutive twelve month period) with SouthTrust or a Participating
Employer, with a proportionate allowance for completed months, commencing with a
Participant's Benefit Accrual Commencement Date and ending on the earlier of the
Participant's Normal Retirement Age or the date he ceases to be employed as an
Executive of SouthTrust or a Participating Employer; provided, however, that a
Participant who transfers from service as an employee as an Executive of
SouthTrust or a Participating Employer to serve as an employee as an Executive
of another Participating Employer shall not be deemed to have terminated Service
solely by reason of such transfer.

                  1.15     "SouthTrust" means SouthTrust Corporation, a
corporation, organized and existing under the laws of the State of Delaware,
with its principal place of business in Birmingham, Alabama, and any corporate
successor thereto, whether by merger, consolidation, liquidation into a parent
corporation, or otherwise.

                  1.16     "Trust" shall mean the Trust for the Benefit of
Participants in the SouthTrust Corporation Deferred Compensation Plan created
simultaneously herewith for the benefit of Participants pursuant to the terms of
this Plan.

         2.       PURPOSE. The Plan is intended to provide additional retirement
benefits to Participants.

         3.       ELIGIBILITY. Executive employees of SouthTrust or other
Participating Employers shall be eligible to participate in the Plan if selected
by the Committee.

         4.       PARTICIPATION.

                  4.1      Selection to Participate. The Committee may from time
to time, designate one or more Executives as eligible to participate in the Plan
by delivering a Participation Agreement to said Executive. An eligible Executive
to whom a Participation Agreement is delivered may become a participant in the
Plan by executing and delivering to the Committee the Participation Agreement.

                  4.2      Modification or Revocation of Participation
Agreement. The Participation Agreement may be modified at any time by written
agreement executed by the Participant and a duly elected Officer of SouthTrust
designated by the Committee. The Participant may amend his designation of
Beneficiary contained in the Participation Agreement at any time by providing
written notice to the Committee in accordance with Paragraph 6.5 hereinbelow.

         5.       ESTABLISHMENT OF TRUST. Any and all funds which may be set
aside by SouthTrust or any Participating Employer to satisfy any and all
obligations created by this agreement or the Participating Employer shall be
paid by SouthTrust or the Participating Employer to the Trustee under the Trust
which is, at the date of this Amendment and Restatement, Trust Company Bank,
Atlanta, Georgia.

                                      -3-
<PAGE>

         6.       BENEFITS.

                  6.1      Benefits Upon Attainment of Normal Retirement Age. A
Participant who attains Normal Retirement Age while in the continuous full time
employ of SouthTrust or a Participating Employer shall commence receiving his
Normal Retirement Benefit in the amount and at such times as set forth in each
Participant's Participation Agreement regardless of whether the Participant
continues to be employed by SouthTrust or a Participating Employer after said
date.

                  6.2      Benefits Upon Termination Prior to Normal Retirement
Age. If a Participant terminates employment for reasons, other than death, with
SouthTrust or a Participating Employer without thereafter being employed by
SouthTrust or another Participating Employer prior to attainment of Normal
Retirement Age, the Participant shall receive his vested portion of his Accrued
Benefit, payable only upon attaining Normal Retirement Age, in the same manner
and form as his Normal Retirement Benefit and in accordance with his
Participation Agreement.

                  6.3      Death Benefits.

                           (a)      If Participant dies prior to becoming
eligible for payment pursuant to Paragraphs 6.1 or 6.2, hereinabove, the
Participant's designated Beneficiary shall be entitled to receive the
Participant's full Normal Retirement Benefit payable in the same form and manner
as set forth in the Participant's Participation Agreement commencing on the
first day of the month immediately following the death of Participant or as soon
as administratively possible after the first day of that month.

                  6.4      Death Benefits While in Pay Status. If Participant
dies after payments under Paragraphs 6.1 or 6.2 have commenced, the remaining
payments, if any, shall be paid to Participant's designated Beneficiary in the
same form and manner as the Participant was previously receiving said benefits
and in accordance with Participant's Participation Agreement.

                  6.5      Beneficiary Designations. The Participant may
designate one or more individuals or entities as his Beneficiary or change any
prior designation, such designation or change in designation to be (i) in
writing, (ii) in such form as the Committee shall prescribe, and (iii)
maintained by the Committee. In the absence of a valid Beneficiary designation
by the Participant, payment of death benefits will be paid to the estate of the
Participant. Any Participant or former Participant may change his designated
Beneficiary, at any time, and without consent of the former designated
Beneficiary.

         7.       ADMINISTRATION.

                  7.1      Administrator. This Plan shall be administered by the
Committee.

                  7.2      Administrator's Powers and Duties. The Administrator
shall have the power and duty to:

                           (a)      construe and interpret the provisions of the
Plan;

                                      -4-
<PAGE>

                           (b)      adopt, amend, or revoke rules and
regulations for the administration of the Plan, provided they are not
inconsistent with the provisions of the Plan;

                           (c)      provide appropriate parties with such
returns, reports, descriptions and statements as may be required by law, within
the times prescribed by law and to make them available for examination by
Participants and their Beneficiaries when required by law;

                           (d)      take such other action as may reasonably be
required to administer the Plan in accordance with its terms or as may be
provided for or required by law;

                           (e)      withhold applicable taxes and file with the
Internal Revenue Service appropriate information returns, with respect to
distributions made from the Plan; and

                           (f)      appoint and retain such persons as may be
necessary to carry out the functions of the Administrator; and

                           (g)      Upon the occurrence of a Change In Control,
the Committee shall delegate and the Trustee shall accept any and all
administrative duties created by this Agreement.

         8.       MISCELLANEOUS.

                  8.1      Amendment or Termination of Plan. This Plan may not
be modified or amended in whole or in part, or terminated, at any time while
there are any Participants or Beneficiaries who have benefits remaining to be
paid, if such amendment or termination of the Plan shall reduce or impair the
Participant's or Beneficiary's accrued benefits or optional forms of benefits
which have accrued prior to the amendment or termination. In the event the Plan
is terminated, all Participants shall be fully vested in their benefits.

                  8.2      Reversion of Excess Assets. In the event there are
assets (Excess Assets) remaining in the Trust after all obligations to all
Participants and Beneficiaries have been satisfied and after this Plan has been
terminated, such Excess Assets shall revert to SouthTrust.

                  8.3      Unsecured Promise. SouthTrust and Participants
acknowledge that this Agreement shall create only an unsecured promise by
SouthTrust to Participants to pay the benefits provided herein. Until the
occurrence of a distribution event, at which point Participant shall be entitled
to receive all amounts as provided hereunder, all such amounts shall remain
solely the property of SouthTrust, subject only to the claims of its general
creditors.

                  8.4      Assignment of Rights to Benefits. A Participant's
rights to benefit payments under the Plan shall not be subject in any manner to
anticipation, alienation, safe, transfer, assignment, pledge, encumbrance,
attachment or garnishment by the Participant, by creditors of the Participant or
the Participant's beneficiary.

                  8.5      Unfunded Plan. It is the intention of South Trust,
each Participating Employer and each Participant that the Plan be unfunded for
tax purposes and for purposes of Title I of ERISA.

                                      -5-
<PAGE>

                  8.6      Right to Employment. This Agreement shall not be
construed as giving the Participant any right to continued employment with
SouthTrust.

                  8.7      Binding Nature of the Plan. The Plan shall be binding
upon and inure to the benefit of SouthTrust, its successors and assigns, the
Participant and Beneficiaries and their heirs and legal representatives.

                  8.8      Written Notice. Any notice or other communication
required or permitted under the Plan shall be in writing. If directed to
SouthTrust, the notice or communication shall be sent to the Committee. If
directed to the Participant, it shall be sent to such Participant at the last
known address as it appears on SouthTrust's records or at the work site, at
SouthTrust's option. If directed to a Beneficiary, it shall be sent to such
Beneficiary at the last known address as it appears on SouthTrust's records. A
copy of any such notice shall be promptly delivered to Trustee.

                  8.9      Entire Agreement. This Plan, as completed and
executed by SouthTrust, the Participation Agreements, and all amendments
thereto, will constitute the entire agreement between SouthTrust and
Participants regarding the Plan.

                  8.10     Controlling Law. This Plan shall be construed in
accordance with the laws of the State of Alabama.

                  8.11     Captions. The captions or headings in this Agreement
are made for convenience and general reference only and shall not be construed
to describe, define or limit the scope or intent of the provisions of this
Agreement.

         IN WITNESS WHEREOF, SouthTrust by and through its duly authorized
officers have caused this instrument to be executed under seal on the 12th day
of July, 1993.

                                             SOUTHTRUST CORPORATION

                                               /s/ Wallace D. Malone
                                             -------------------------

                                             Wallace D. Malone
                                             Chairman of the Board and
                                             Chief Executive Officer

Attest:

  /s/  Aubrey D. Barnard                         (SouthTrust)
---------------------------
Aubrey D. Barnard
Secretary

[CORPORATE SEAL]

                                       -6-
<PAGE>

                                AMENDMENT TO AND
                               RESTATEMENT OF THE
                        SOUTHTRUST CORPORATION EXECUTIVE
                           DEFERRED COMPENSATION PLAN
                            PARTICIPATION AGREEMENT
                                with respect to
                             WALLACE D. MALONE, JR.

         Pursuant to the provisions of Section 2.1 of the SouthTrust Corporation
Executive Deferred Compensation Plan, as amended ("the Plan"), Section 4 of the
Participation Agreement of Wallace D. Malone, Jr. ("the Executive"), is hereby
amended and the remainder of the agreement is hereby restated as follows:

         1.       The name of the Participant is Wallace D. Malone, Jr.

         2.       The date as of which the Participant commences participation
in the Plan is October 21, 1987.

         3.       The Benefit Accrual Commencement Date for the Participant is
October 21, 1987.

         4.       The monthly amount of the Participant's Normal Retirement
Benefit is $15,000.

         5.       In the event the Participant's Service terminates prior to his
Normal Retirement Date for a reason other than death, his vested interest shall
be determined in accordance with the table set forth below, based on his
completed years of Service at the time his Service terminates:

<Table>
<Caption>
               Years of Service              Vested Percentage
               ----------------              -----------------
               <S>                           <C>
                within 1 year                       50%
                      1                             56%
                      2                             61%
                      3                             67%
                      4                             72%
                      5                            100%
</Table>

         6.       The Participant's designated Beneficiary, who shall be
entitled to receive any benefit payable upon the Participant's death under the
Plan shall be W. D. Malone, III, Catherine M. Wilson, and Alyson Davis Malone
Trust under Agreement dated November 10, 1972, whose address is 111 Woodcreek
Drive, Dothan, Alabama 36301, and whose Social Security Numbers are ###-##-####,
###-##-####, I.D. #57-6056553, respectively. In the event the aforesaid
designated Beneficiaries shall predecease the Participant, the Participant's
contingent Beneficiary shall be the Estate of W. D. Malone, Jr., whose address
is 4220 Fredericksburg Drive, Birmingham, Alabama 35213.

         IN WITNESS WHEREOF, the Committee has caused this instrument to be
executed on its behalf by the President, SouthTrust Corporation, and the
Participant has hereunto affixed his hand, on the date or dates indicated below.

                                    /s/   Roy W. Gilbert, Jr.
                                    -------------------------------------
                                    President, SouthTrust Corporation
   2-28-92
---------------
Date

                                    /s/   Wallace D. Malone, Jr.
                                    --------------------------------------
                                    Wallace D. Malone, Jr.
<PAGE>

                                AMENDMENT TO AND
                               RESTATEMENT OF THE
                        SOUTHTRUST CORPORATION EXECUTIVE
                           DEFERRED COMPENSATION PLAN
                            PARTICIPATION AGREEMENT
                                with respect to
                              ROY W. GILBERT, JR.

         Pursuant to the provisions of Section 2.1 of the SouthTrust Corporation
Executive Deferred Compensation Plan, as amended ("the Plan"), Section 4 of the
Participation Agreement of Roy W. Gilbert, Jr. ("the Executive"), is hereby
amended and the remainder of the agreement is hereby restated as follows:

         1.       The name of the Participant is Roy W. Gilbert, Jr.

         2.       The date as of which the Participant commences participation
in the Plan is October 21, 1987.

         3.       The Benefit Accrual Commencement Date for the Participant is
October 21, 1987.

         4.       The monthly amount of the Participant's Normal Retirement
Benefit is $10,833.33.

         5.       In the event the Participant's Service terminates prior to his
Normal Retirement Date for a reason other than death, his vested interest shall
be determined in accordance with the table set forth below, based on his
completed years of Service at the time his Service terminates:

<Table>
<Caption>
               Years of Service              Vested Percentage
               ----------------              -----------------
               <S>                           <C>
                      1                             50%
                      2                             55%
                      3                             60%
                      4                             70%
                      5                            100%
</Table>

         6.       The Participant's designated Beneficiary, who shall be
entitled to receive any benefit payable upon the Participant's death under the
Plan shall be Judith Henry Gilbert, whose address is Route 1 Box 1 Box 603,
Leeds, Alabama 35094, and whose Social Security Number is ###-##-####. In the
event the aforesaid Judith Henry Gilbert shall predecease the Participant, the
Participant's contingent Beneficiary shall be the Estate of Roy W. Gilbert, Jr.

         IN WITNESS WHEREOF, the Committee has caused this instrument to be
executed on its behalf by the President, SouthTrust Corporation, and the
Participant has hereunto affixed his hand, on the date or dates indicated below.

                                    /s/   Wallace D. Malone, Jr.
                                    -------------------------------------
                                    Chairman, SouthTrust Corporation
   2-28-92
---------------
Date

                                    /s/   Roy W. Gilbert, Jr.
                                    --------------------------------------
                                    Roy W. Gilbert, Jr.
<PAGE>

                        SOUTHTRUST CORPORATION EXECUTIVE
                           DEFERRED COMPENSATION PLAN
                            PARTICIPATION AGREEMENT
                                with respect to
                                E. FRANK SCHMIDT

         Pursuant to the terms and provisions of the SouthTrust Corporation
Executive Deferred Compensation Plan, as amended ("the Plan"), the Human
Resources Committee of the Board of Directors of SouthTrust Corporation ("the
Committee") hereby designates the undersigned individual ("the Participant") as
a Participant in the Plan, and the Participant hereby agrees to become a
Participant in the Plan, subject to the terms and conditions set forth in the
Plan and below:

         1.     The name of the Participant is E. Frank Schmidt.

         2.     The date as of which the Participant commences participation in
the Plan is April 15, 1992.

         3.     The Benefit Accrual Commencement Date for the Participant is
April 15, 1992.

         4.     The Normal Retirement Date of the Participant the Participant's
65th birthday.

         5.     The Participant's Normal Retirement Benefit is $833.33 per
month payable beginning on the first day of the month following the
Participant's Normal Retirement Date and continuing for 120 months, at which
time it shall cease. In the event of the death of the Participant prior to the
commencement of the benefit payments or prior to the end of the 120 month
period, said payments shall be paid or shall continue to be paid for the
remainder of the 120 month period to the designated Beneficiary.

         6.     In the event the Participant's Service terminates prior to his
Normal Retirement Date for a reason other than death, his vested interest shall
be determined in accordance with the table set forth below, based on his
completed years of Service at the time his Service terminates:

                  Years of Service          Vested Percentage
                  ----------------          -----------------

                         1                        100%

         7.     The Participant's designated Beneficiary, who shall be entitled
to receive any benefit payable upon the Participant's death under the Plan shall
be Carolyn G. Schmidt, whose address is 4605 Old Shell Road, Mobile, AL 36608,
and whose Social Security Number is ###-##-####. In the event the aforesaid
Beneficiary shall predecease the Participant, the Participant's contingent
Beneficiary shall be his Estate.

         IN WITNESS WHEREOF, the Committee has caused this instrument to be
executed on its behalf by the Chairman, SouthTrust Corporation, and the
Participant has hereunto affixed his hand, on the date or dates indicated below.

                             SOUTHTRUST CORPORATION

                          BY: /s/ Wallace D. Malone, Jr.
                             ------------------------------
                          Chairman, SouthTrust Corporation

Aug. 11, 1993
-------------
Date

                             /s/ E. Frank Schmidt
                             ------------------------------
                             Participant
<PAGE>

                        SOUTHTRUST CORPORATION EXECUTIVE
                           DEFERRED COMPENSATION PLAN
                            PARTICIPATION AGREEMENT
                                with respect to
                                JAMES W. RAINER

         Pursuant to the terms and provisions of the SouthTrust Corporation
Executive Deferred Compensation Plan, as amended ("the Plan"), the Human
Resources Committee of the Board of Directors of SouthTrust Corporation ("the
Committee") hereby designates the undersigned individual ("the Participant") as
a Participant in the Plan, and the Participant hereby agrees to become a
Participant in the Plan, subject to the terms and conditions set forth in the
Plan and below:

         1.     The name of the Participant is James W. Rainer.

         2.     The date as of which the Participant commences participation in
the Plan is April 15, 1992.

         3.     The Benefit Accrual Commencement Date for the Participant is
April 15, 1992.

         4.     The Normal Retirement Date of the Participant the Participant's
65th birthday.

         5.     The Participant's Normal Retirement Benefit is $833.33 per
month payable beginning on the first day of the month following the
Participant's Normal Retirement Date and continuing for 120 months, at which
time it shall cease. In the event of the death of the Participant prior to the
commencement of the benefit payments or prior to the end of the 120 month
period, said payments shall be paid or shall continue to be paid for the
remainder of the 120 month period to the designated Beneficiary.

         6.     In the event the Participant's Service terminates prior to his
Normal Retirement Date for a reason other than death, his vested interest shall
be determined in accordance with the table set forth below, based on his
completed years of Service at the time his Service terminates:

                  Years of Service          Vested Percentage
                  ----------------          -----------------

                         1                        100%

         7.     The Participant's designated Beneficiary, who shall be entitled
to receive any benefit payable upon the Participant's death under the Plan shall
be Anne Lates Rainer, whose address is 2828 Berwick Road, Birmingham, AL 35213,
and whose Social Security Number is ###-##-####. In the event the aforesaid
Beneficiary shall predecease the Participant, the Participant's contingent
Beneficiary shall be his Estate.

         IN WITNESS WHEREOF, the Committee has caused this instrument to be
executed on its behalf by the Chairman, SouthTrust Corporation, and the
Participant has hereunto affixed his hand, on the date or dates indicated below.

                             SOUTHTRUST CORPORATION

                          BY: /s/ Wallace D. Malone, Jr.
                             ------------------------------
                          Chairman, SouthTrust Corporation

August 11, 1993
---------------
Date

                             /s/ James W. Rainer
                             ------------------------------
                             Participant

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