BB&T 2015 Annual Report Download - page 331

comply with Executive’s Section 2 covenants (including, without limitation, compliance with the noncompetition and nonsolicitation
covenants of Section 2) for a one (1) year period following Executive’s Termination Date.
 . In the case of a termination of Executive’s employment hereunder for Disability in
accordance with Section 1.6.3 above, during the first twelve (12) consecutive months of the period of Executive’s Disability,
Executive shall continue to earn all compensation (including bonuses and incentive compensation) to which Executive would have
been entitled if Executive had not been disabled, such compensation to be paid at the time, in the amount, and in the manner provided
in Section 1.4, inclusive of any compensation received pursuant to any applicable disability insurance plan of Employer. Thereafter,
Executive shall receive only compensation to which Executive is entitled under any applicable disability insurance plan of Employer;
and Executive shall have no right to receive any other compensation (such as Termination Compensation) or other benefits upon or
after Executive’s Termination Date. In the event a dispute arises between Executive and Employer concerning Executive’s Disability
or ability to continue or return to the performance of his duties as aforesaid, Executive shall submit, at the expense of Employer, to
examination of a competent physician mutually agreeable to the parties, and such physician’s opinion as to Executive’s capability to so
perform shall be final and binding upon Employer and Executive.
  . In the case of a termination of Executive’s employment hereunder Without
Just Cause in accordance with Section 1.6.6, Executive shall be entitled to the following in lieu of any other compensation or benefits
(under Section 1.4 of this Agreement or otherwise) from Employer:
(i) Executive shall receive Termination Compensation each month during the Compensation Continuance
Period, subject, however, to Executive’s compliance with Executive’s Section 2 covenants (including,
without limitation, compliance with the noncompetition and nonsolicitation covenants of Section 2) for a
one (1) year period following Executive’s Termination Date.
(ii) Employer shall use their best efforts to accelerate vesting of any unvested benefits of Executive under
any employee stock-based or other benefit plan or arrangement to the extent permitted by Code Section
409A or other applicable law and the terms of such plan or arrangement.
(iii) Employer shall make available to Executive, at Employer’s cost, outplacement services by such entity or
person as shall be designated by Employer, with the cost to Employer of such outplacement services not
to exceed Twenty Thousand Dollars ($20,000).
(iv) During the Compensation Continuance Period, Executive shall either continue to participate (treating
Executive as an “active employee” of Employer for this purpose) in the same group
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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