BB&T 2015 Annual Report Download - page 279

the Committee, as a condition precedent to such payment, to execute a receipt and release with respect thereto in such form as shall be
acceptable to the Committee.
18.5 Headings. The headings and subheadings of the Plan have been inserted for convenience of reference and are to be
ignored in any construction of the provisions hereof.
18.6 Continuation of Employment. The establishment of the Plan shall not be construed as conferring any legal or other
rights upon any Employee or any persons for continuation of employment or the annual rate of compensation of any such pension for
any period, nor shall it interfere with the right of the Employer to discharge any Employee or to deal with him without regard to the
effect thereof under the Plan.
18.7 Construction. The provisions of the Plan shall be construed and enforced according to the laws of the State of North
Carolina, without giving effect to its conflict of laws provisions.
18.8 Nonliability of Employer. The Employer does not guarantee the Participants, former Participants, or Beneficiaries
against loss of or depreciation in value of any right or benefit that any of them may acquire under the terms of the Plan, nor does the
Employer guarantee to any of them that the assets of the Employer will be sufficient to provide any or all benefits payable under the
Plan at any time, including any time that the Plan may be terminated or partially terminated.
18.9 Severability. All provisions contained in the Plan shall be severable, and in the event that any one or more of them
shall be held to be invalid by any competent court, the Plan shall be interpreted as if such invalid provisions were not contained herein.
18.10 Merger and Consolidation. The Company shall not consolidate or merge into or with another corporation or
entity, or transfer all or substantially all of its assets to another
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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