BB&T 2015 Annual Report Download - page 314

pertaining thereto. The Trustee shall, at Company expense, contest the validity of such taxes in any manner deemed appropriate by the
Company or its counsel, but only if it has received an indemnity bond or other security satisfactory to the Trustee to pay any expenses
of such contest. Alternatively, the Company may contest the validity of any such taxes.
7.2 Expenses and Compensation: The Trustee shall be paid compensation in accordance with· the Trustee’s regular
schedule of fees for trust services and applicable investment management services, as in effect from time to time, unless the Company
and Trustee otherwise agree. To the extent there is a balance in the Expense Account established pursuant to Section 5.3, the Trustee
shall utilize such Expense Account for payment of the Trustee’s fees and Trust expenses. In the absence of such a balance, the
Company shall pay all Trust expenses, including fees of the Trustee. Upon failure of the Company to pay such expenses, the Trustee
may satisfy such obligations out of the assets of the Trust Fund and charge the Unallocated Account and Participant Accounts as
provided in Section 6.5. In that event, the Company shall deposit into the Trust Fund a sum equal to the amount paid from the Trust
Fund (other than the amount charged to the Unallocated Account) for such fees and expenses, and the Participant Accounts so charged
shall be credited.
Section 8. Administration and Records:
8.1 Records: The Trustee shall keep or cause to be kept accurate and detailed accounts of any investments, receipts,
disbursements and other transactions hereunder. All accounts, books and records relating thereto shall be open to inspection and audit
at all reasonable times by any person designated by the Company.
8.2 Settlement of Accounts: Within sixty days after the close of each Fiscal Year, and within sixty days after the
removal or resignation of the Trustee or the termination of
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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