BB&T 2015 Annual Report Download - page 270

ARTICLE XII
BENEFICIARY
The Participant's Beneficiary shall be the person or persons designated by the Participant on the beneficiary designation
form provided by and filed with the Committee or its designee. If the Participant does not designate a Beneficiary, the Beneficiary
shall be his Surviving Spouse. If the Participant does not designate a Beneficiary and has no Surviving Spouse, the Beneficiary shall
be the Participant's estate. The designation of a Beneficiary may be changed or revoked only by filing a new beneficiary designation
form with the Committee or its designee. If a Beneficiary (the "Primary Beneficiary") is receiving or is entitled to receive payments
under the Plan and dies before receiving all of the payments due him, the balance to which he is entitled shall be paid to the
Contingent Beneficiary, if any, named in the Participant's current beneficiary designation form. If there is no Contingent Beneficiary,
the balance shall be paid to the estate of the Primary Beneficiary. Any Beneficiary may disclaim all or any part of any benefit to
which such Beneficiary shall be entitled hereunder by filing a written disclaimer with the Committee before payment of such benefit
is to be made. Such a disclaimer shall be made in form satisfactory to the Committee and shall be irrevocable when filed. Any
benefit disclaimed shall be payable from the Plan in the same manner as if the Beneficiary who filed the disclaimer had died on the
date of such filing.
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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