BB&T 2015 Annual Report Download - page 328

  During the Term, Executive shall continue to participate in any bonus or incentive
plans of Employer, whether any such plan provides for awards in cash or securities, made available to other executives of Employer
similarly situated to Executive, as such plan or plans may be modified from time to time, or such other similar plans for which
Executive may become eligible and designated a participant.
  Executive shall be eligible to participate in such employee benefits plans and programs of
Employer (such as retirement, sick leave, vacation, group disability, health, life, and accident insurance) as may be in effect from time
to time (and subject to the terms thereof) during the Term as are afforded to other similarly situated executives of BB&T.
If, during the Term, Executive becomes eligible for benefits under the Pension Plan and retires, Executive shall be
eligible to participate in the same retiree health care program provided to other retiring employees of BB&T who are also retiring at the
same time. During the Compensation Continuance Period, Executive shall be deemed to be an “active employee” of Employer for
purposes of participating in BB&T’s health care plan and for purposes of satisfying any age and service requirements under BB&T’s
retiree health care program. Thus, if Executive has not satisfied either the age or service requirement (or both) under BB&T’s retiree
health care program at the time payment of Executive’s Termination Compensation begins, but satisfies the age or service requirement
(or both) at the time such Termination Compensation payments end, Executive shall be deemed to have satisfied the age or service
requirement (or both) for purposes of BB&T’s retiree health care program as of the date Executive’s Termination Compensation
payments end. For purposes of satisfying any service requirement under BB&T’s retiree health care program, Executive shall be
credited with one year of service for each Computation Period which begins and ends during the Compensation Continuance Period.
 Employer shall, upon receipt from Executive of supporting receipts to the extent required by
applicable income tax regulations and Employer’s reimbursement policies, reimburse Executive for all out-of-pocket business expenses
reasonably incurred by Executive in connection with Executive’s employment hereunder.
  Executive’s employment and this Agreement (except as otherwise provided hereunder) shall terminate
upon a date (the “ ”) that is the earlier of (i) the expiration (as provided in Section 1.3) of the Term, or (ii) the
occurrence of any of the following at the time set forth therefor:
. Executive’s employment and this Agreement shall automatically terminate upon Executive’s death.
. Executive’s employment shall terminate automatically upon Executive’s Retirement.
  Immediately upon the reasonable determination by Employer that Executive shall have been unable
to substantially perform the essential functions of Executive’s duties by reason of a physical or mental disability, with or without
reasonable accommodation, for a period of twelve (12) consecutive months (“”); provided that
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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