BB&T 2015 Annual Report Download - page 286

APPENDIX E
SPECIAL PROVISIONS FOR PRIOR PLANS
E.1 SPECIAL PROVISIONS RELATING TO SOUTHERN NATIONAL ESOP EXCESS PLAN. Prior to January 1, 1996,
the Company sponsored and maintained the Southern National ESOP Excess Plan (the "SNC Excess Plan"). The purpose of the SNC
Excess Plan was to restore to employees certain benefits ("restoration benefits") that would have been provided under the Southern
National Corporation 401(k) Savings Plan (formerly known as the "Southern National Employee Stock Ownership Plan") except for
the limitations imposed by Sections 401(k)(3) and 402(g)(1) of the Code. Since the restoration benefits provided by the SNC Excess
Plan are now provided pursuant to Sections 3.1 and 3.2 of the Plan (and which restoration benefits were also provided under the SNC
Plan and the Plan prior to this restatement), the SNC Excess Plan was frozen as of December 31, 1995. All employees who were
participants in the SNC Excess Plan on December 31,1995, automatically became Participants in the SNC Plan on January 1, 1996.
All participants' accounts under the SNC Excess Plan were combined with the separate bookkeeping accounts of similar character
under the Plan as of January 1, 1997. Each Former SNC Excess Plan Participant's Tax-Deferred Contribution Account (formerly
known as his "Employee's Pre-Tax Account") under the SNC Excess Plan became his Salary Reduction Account under the Plan.
Each Former SNC Excess Plan Participant's Matching Contributions Account (formerly known as his "Company's Pre-Tax Account")
became his Matching Account under the Plan. The balance in the accounts of each Former SNC Excess Plan Participant under the
SNC Excess Plan were deemed invested in Company Stock. The amounts transferred from the accounts under the SNC Excess Plan to
the separate bookkeeping accounts of similar character under the Plan shall remain deemed invested in Company Stock until a Former
SNC Excess Plan
E-1
Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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