BB&T 2015 Annual Report Download - page 294

under the Plans, the balance, if any, remaining in the Trust shall revert to the Company, subject to the terms of the Trust. References
herein to “Participants” shall include Beneficiaries of deceased Participants unless expressly stated to the contrary.
1.2 Description of Trust: The Company represents and agrees that the Trust does not fund and is not intended to fund
the Plans or any other employee benefit plan or program of the Company. Subject to the provisions of Section 5.1.1, contributions by
the Company to the Trust shall be in amounts determined solely by the Company.
1.3 Copies of the Plans: Upon execution of the Trust, the Company shall provide the Trustee with copies of the Plans
and resolutions of the Board of Directors of the Company approving the Plans. Thereafter, any amendment to any of the Plans and
resolutions of the Board of Directors of the Company approving any such amendment shall be delivered to the Trustee as soon as
practicable after adoption.
1.4 Trust Irrevocable: The Trust hereby established shall be irrevocable, and except as specifically provided in
Sections 2, 6.8, 6.10, 11 and 12, the Trust Fund shall be held for the exclusive purpose of providing benefits to Participants and
defraying expenses of the Trust in accordance with the provisions hereof. Except as specifically provided in Sections 2, 6.8, 6.10, 11
and 12, no part of the income or corpus of the Trust Fund shall be recoverable by or for the benefit of the Company.
1.5 Acceptance: The Trustee hereby agrees and consents to serve as Trustee of the Trust and accepts the Trust on the
terms and subject to the provisions set forth herein and agrees to discharge and perform fully and faithfully all of the duties and
obligations imposed upon it under the Trust.
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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