There is a catch, though. To access instant level 10 characters, you’re going to need to have the new Veteran Status III applied to your account. You can either earn this with in-game favor or by purchasing the status through the game store. The upside of this, in addition to getting a character who has advanced essentially 40 levels in any other MMO, is that he, she, or it will be given a set of level 10 gear and a Cleric hireling contract.
The Veteran Status III event is running through December 17th.
Source: DDO. Thanks Wakkander!