BB&T 2015 Annual Report Download - page 297

commenced against it in which an order for relief is entered or which remains undismissed; or the Company by
any act or omission shall indicate its consent to, approval of or acquiescence in any such petition, application or
case or order for relief or for the appointment of a custodian, receiver or any trustee for the Company or any
substantial part of any of the Company’s property, or shall suffer any such custodianship, receivership or
trusteeship to continue undischarged.
2.6 Repayment of Amounts Paid to Creditors: In the event that amounts are paid from the Trust Fund to the
Company’s creditors (other than payments to Participants under the terms of the Trust), then as soon as practicable, or as soon as the
Company is no longer insolvent or Bankrupt, the Company may deposit into the Trust Fund a sum equal to the amount paid from the
Trust Fund to such creditors.
Section 3. Powers of Trustee:
3.1 Investment of the Trust Fund:
3.1.1 The Trustee shall hold, manage, invest and otherwise administer the Trust Fund pursuant to the terms of this Trust
Agreement. The Trustee shall be responsible only for contributions actually received by it hereunder. Subject to the provisions
of Section 5.1.1, the amount of each contribution by the Company to the Trust Fund shall be determined in the sole discretion
of the Company.
3.1.2 The assets of the Trust Fund shall be invested by the Trustee at the direction of or in accordance with the
investment guidelines provided from time to time by the Compensation Committee of the Board of Directors of BB&T
Corporation (the “Compensation Committee”). If no such directions or guidelines are received by the Trustee, the assets of the
Trust Fund shall be invested in short and intermediate term obligations of the United States government or its agencies, savings
certificates and certificates of deposit issued by federally-insured financial institutions, cash equivalent deposits or accounts, life
insurance policies and guaranteed investment contracts issued by quality insurance companies, mutual funds, and common or
collective trust funds which reflect investments of the nature described in this Section 3.1.2.
3.1.3 Notwithstanding any other provision of this Trust, the Compensation Committee shall have the right and power at
any time and from time to time to contribute shares of BB&T Corporation’s $5 par value common stock registered pursuant to
the Securities Act of 1933 (“Company Stock”) to the Trust Fund and to direct the Trustee to acquire Company Stock. (The
term “Company Stock” shall also include shares of a common fund, the purpose of which is to invest primarily in Company
Stock.) The Trustee shall hold such Company Stock as part of the Trust Fund and shall not sell, transfer or encumber such
Company Stock except as the Compensation Committee may
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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