BB&T 2015 Annual Report Download - page 317

conformity with the requirements of applicable law, the funds and properties in its control or possession then constituting the Trust
Fund.
Section 10. Enforcement of Trust Agreement and Legal Proceedings:
The Company and the Trustee shall have the right to enforce any provision of the Trust. In any action or proceeding
affecting the Trust, the only necessary parties shall be the Company, the Trustee and the Participants and, except as otherwise required
by applicable law, no other person shall be entitled to any notice or service of process. Any judgment entered in such an action or
proceeding shall, to the maximum extent permitted by applicable law, be binding and conclusive on all persons having or claiming to
have any interest in the Trust. Time is of the essence of the Trust. In case any provision of the Trust is enforced by the Trustee or by
any Participant by legal process or through an attorney-at-law, or under advice therefrom, including but not limited to the collection of
amounts due hereunder to either the Trustee or such Participant, or for the benefit of such Participant, then the Company shall pay all
costs of such enforcement or collection, including reasonable attorneys’ fees.
Section 11. Termination:
This Trust shall continue until it terminates following the first to occur of (i) all payments required by Section 6 or other
provisions of the Trust have been made, or (ii) the Trust Fund contains no assets and retains no claims to recover assets. If the Trust
terminates pursuant to this Section 11, the Trustee, after its final account has been settled as provided in Section 8.2, shall distribute to
the Company the net balance of any assets remaining in the Trust Fund. Upon making distribution of the Trust Fund, the Trustee shall
be relieved from all further liability. The powers of the Trustee hereunder shall continue so long as any assets of the Trust Fund remain
in its hands.
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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