BB&T 2015 Annual Report Download - page 292

BB&T CORPORATION
NON-QUALIFIED DEFERRED COMPENSATION TRUST
THIS TRUST AGREEMENT amends, restates and supersedes as of January 1, 2012, the BB&T Corporation Non-
Qualified Deferred Compensation Trust effective as of November 1, 2001 (and subsequently amended from time to time). This
amended and restated Trust Agreement is made and entered into on the ___ day of _______________, 2012, to be effective as of
January 1, 2012, by and between BB&T CORPORATION (the “Company”), and BRANCH BANKING AND TRUST
COMPANY (the “Trustee”).
R E C I T A L S:
The Company has incurred and expects to continue to incur certain liabilities to or with respect to selected employees
and non-employee directors of the Company pursuant to the terms of the BB&T Non-Qualified Defined Contribution Plan, the BB&T
Corporation Amended and Restated Non-Employee Directors’ Deferred Compensation Plan, and the BB&T Supplemental Defined
Contribution Plan for Highly Compensated Employees (referred to herein individually as the “Plan” and collectively as the “Plans”).
To assist the Company in meeting its obligations under the Plans, the Company wishes to establish an irrevocable trust (the “Trust”) to
hold assets of the Company as a reserve for the discharge of the Company’s liabilities under the Plans. The Trust is intended to be a
grantor trust with the corpus and income of the Trust treated as assets and income of the Company for federal income tax purposes
pursuant to Sections 671 through 677 of the Internal Revenue Code of 1986, as amended (the “Code”). The Company intends that the
existence of the Trust will not alter the characteristics of either the BB&T Non-Qualified Defined Contribution Plan or the BB&T
Supplemental Defined Contribution Plan for Highly Compensated Employees for purposes of the Employee Retirement Income
Security Act
Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.