BB&T 2015 Annual Report Download - page 280

corporation, partnership, trust or other entities (a "Successor Entity") unless such Successor Entity shall assume the rights, obligations
and liabilities of the Company under the Plan and upon such assumption, the Successor Entity shall become obligated to perform the
terms and conditions of the Plan.
18.11 Withholding Taxes. The Employer shall satisfy all federal, state and local tax reporting and withholding tax
requirements prior to making any benefit payment under the Plan. Whenever under the Plan payments are to be made by the Employer
in cash, such payments shall be net of any amounts sufficient to satisfy all federal, state, and local withholding tax requirements.
Whenever payments shall be made in Company Stock, the Employer shall have the right to require the Participant (or Beneficiary) to
remit to the Employer an amount sufficient to satisfy all federal, state, and local withholding tax requirements as a condition to the
registration of the transfer of such Company Stock on the books of the Company.
18.12 Timing of 2005 Deferrals. The requirements of Article III relating to the timing of deferral elections shall not apply
to any deferral elections for 2005 made on or before March 15, 2005; provided that the requirements of Q&A 21 of IRS Notice 2005-1
were met namely: (1) the amounts to which the deferral election related had not been paid or had not become payable at the time of the
election; (2) the elections to defer compensation were made in accordance with the terms of the Plan as in effect on December 31, 2005
(other than a requirement to make a deferral election after March 15, 2005); (3) the Plan was otherwise operated in accordance with the
requirements of Section 409A with respect to deferrals subject to Section 409A; and (4) the Plan shall be or has been amended to
comply with Section 409A in accordance with applicable IRS guidance.
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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