BB&T 2015 Annual Report Download - page 318

Section 12. Amendment:
12.1 Consent Required: Subject to Section 12.2, this Trust may be amended by a written instrument executed by the
Trustee and the Company.
12.2 Other Limitations on Amendment: Amendment of the Trust shall be subject to the following limitations: (i) no
amendment shall cause the Trust, the Plans or the assets of the Trust Fund to be governed by or subject to part 2, 3 or 4 of title I of
ERISA; (ii) no amendment shall cause the assets of the Trust Fund to be taxable to Participants prior to distribution therefrom; (iii) no
amendment shall make the Trust revocable; and (iv) no amendment shall adversely affect any benefits to Participants under the Plans
accrued to the date of such amendment or the amount of assets of the Trust Fund allocable thereto.
12.3 Compliance with ERISA and the Code: Notwithstanding anything in this Section 12 to the contrary, the Trust
and the Plans shall be amended from time to time (without the consent of any Participant) to maintain the Plans as unfunded plans
maintained primarily for the purpose of providing deferred compensation for a select group of management or highly compensated
employees for purposes of ERISA, the Code and any other applicable law, to maintain the Trust as a grantor trust, to ensure that
contributions to the Trust by the Company will not constitute a taxable event and income and gains of the Trust Fund will not be
taxable as income and gains to the Trust or Participants, and that benefits paid to Participants from the Trust Fund will be deductible by
the Company in the year of payment.
Section 13. Indemnification of Trustee:
To the extent permitted by law, the Company shall indemnify and hold the Trustee harmless from and against any and
all losses, damages, costs, expenses and liabilities (herein “Liabilities”), including reasonable attorneys’ fees and other costs of
litigation, to which
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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