BB&T 2015 Annual Report Download - page 237

BB&T NON-QUALIFIED DEFINED CONTRIBUTION PLAN
(January 1, 2012 Restatement)
ARTICLE I
ESTABLISHMENT AND PURPOSES OF THE PLAN
1.1 Establishment of Plan. Effective as of January 1, 1997, Southern National Corporation, a multi-banking holding
company with principal subsidiaries that included Branch Banking and Trust Company, BB&T of South Carolina, and BB&T of
Virginia, (the “Company”) adopted the "Southern National Corporation Non-Qualified Defined Contribution Plan" (the "Plan").
Thereafter in 1997, the Company was renamed BB&T Corporation and, effective as of November 1, 2001, the Plan was renamed the
“BB&T Corporation Non-Qualified Defined Contribution Plan” and was further amended and restated. Effective as of January 1,
2009, the Plan was renamed the “BB&T Non-Qualified Defined Contribution Plan” and was amended and restated for compliance
with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the guidance issued thereunder by the United
States Department of Treasury and/or the Internal Revenue Service (collectively, “Section 409A”). Notwithstanding the foregoing, on
and after January 1, 2005 through December 31, 2008, the Plan has been operated, to the extent applicable, in good faith compliance
with Section 409A. As of the date of execution of this plan document which is effective as of January 1, 2012, the Plan is amended
and restated to make certain clarifications in compliance with Section 409A. Moreover, to the extent applicable, the Company intends
that the Plan comply with Section 409A and the Plan shall be construed consistently with such intent.
1.2 Purpose of Plan. The primary purpose of the Plan is to supplement the benefits payable to certain participants
under the tax-qualified BB&T Corporation 401(k) Savings
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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