BB&T 2015 Annual Report Download - page 249

Notwithstanding any election made by the Participant pursuant to this Section 5.2.1, if prior to the distribution processing date
the Participant advises the Committee in writing that he desires to have his vested Company Stock Accounts, if any, paid to him
in shares of Company Stock (as provided in Section 5.2.4), his vested Company Stock Accounts shall be paid to him in
accordance with the distribution option elected by him pursuant to this Section 5.2.1; provided, however, that if the Participant
elected the Term Certain Option, payment of the Participant's Company Stock Accounts, which are grandfathered from Section
409A, shall be paid to him in approximately equal annual (rather than monthly) installments over the term certain selected by
the Participant.
5.2.2 Commencement and Timing of Distributions.
(a) In General. Except as otherwise provided in Article VI relating to payments in the event of an Unforeseeable
Emergency, no benefit payments will be made to the Participant from the Plan under this Section 5.2 until the Participant has
incurred a Separation from Service. Subject to the provisions of Section 5.2.2(b) and Article XVII, payment of a Participant’s
vested Accrued Benefit shall commence within one of the following periods:
Option 1 Distribution shall commence within the 60-day period next following the date the Participant
incurs a Separation from Service; provided that if such 60-day period begins in one calendar year
and ends in another, the Participant shall not have a right to designate the calendar year of
payment.
Option 2 Distribution shall commence within the period beginning on the first day of January of the Plan
Year which next follows the Plan Year in which the Participant incurred a Separation from
Service and ending on the last day of February of such Plan Year.
Option 3 Distribution shall commence within the 60-day period next following the later of (a) the date the
Participant attains age 65, or (b) the date the Participant has incurred a Separation from Service;
provided that if such 60-day period begins in one calendar year and ends in another, the
Participant shall not have a right to designate the calendar year of payment.
Option 4 Distribution shall commence within the period beginning on the first day of January of the Plan
Year, and ending on the last day of February of such Plan Year, which next follows the later of (a)
the Plan Year in which the Participant attains age 65, or (b) the Plan Year in which the Participant
has incurred a Separation from Service.
The election of the date as of which distribution shall commence (the "Timing Election") shall be made by the Participant on a
form approved by the Committee and filed with the
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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