BB&T 2015 Annual Report Download - page 266

ARTICLE IX
FUNDING
The Plan is intended to be both an excess benefit plan and an unfunded plan of deferred compensation maintained for a
select group of highly compensated or management employees. The obligation of the Employer to make payments hereunder may
constitute a general unsecured obligation of the Employer to the Participant. Notwithstanding the foregoing,
the Company shall establish and maintain a special separate fund as provided for in the document entitled “BB&T Corporation Non-
Qualified Deferred Compensation Trust.” Subject to the restrictions in Section 409A(b), the Employer shall make contributions to the
trust no less frequently than annually, and shall provide for trust assets that are at least equal to the sum of the amounts of all Accounts
under the Plan as of a date within ten business days before such contribution. Notwithstanding the foregoing, no Participant or his
Beneficiary shall have any legal or equitable rights, interest or claims in any particular asset of the trust or the Employer by reason of
the Employer's obligation hereunder, and nothing contained herein shall create or be construed as creating any other fiduciary
relationship between the Employer and a Participant or any other person. To the extent that any person acquires a right to receive
payments from the trust or the Employer hereunder, such right shall be no greater than the right of an unsecured creditor of the
Employer.
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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