Amendment to BB&T Corporation Supplemental Defined Contribution Plan for Highly Compensated Employees

Summary

BB&T Corporation has amended its Supplemental Defined Contribution Plan for Highly Compensated Employees to allow a designated company officer, as chosen by the Board, to merge or consolidate another non-qualified defined contribution plan into this Plan. The designated officer can also set special provisions for participants from the merged plan. This amendment is effective as of October 24, 2000, and is executed by the company's President and Secretary.

EX-10.23 8 0008.txt SUPPLEMENTAL DEFINED CONTRIBUTION PLAN Exhibit 10(w) 2000 DECLARATION OF AMENDMENT TO THE BB&T CORPORATION SUPPLEMENTAL DEFINED CONTRIBUTION PLAN FOR HIGHLY COMPENSATED EMPLOYEES THIS DECLARATION OF AMENDMENT, made the 24th day of October, 2000, by BB&T Corporation (the "Company"), as sponsor of the BB&T Corporation Supplemental Defined Contribution Plan for Highly Compensated Employees (the "Plan"). R E C I T A L S : - - - - - - - - It is deemed advisable for the Company to amend the Plan to allow a designated officer of the Company to amend the Plan to provide for the merger or consolidation of another plan into the Plan. NOW, THEREFORE, it is declared, that effective as of the date hereof, the Plan shall be and hereby is amended by inserting the following new material after the second sentence of Section 13: "Notwithstanding the foregoing, and until otherwise decided by the Board, the officer of the Company specifically designated in resolutions adopted by the Board shall have the authority to amend the Plan to provide for the merger or consolidation of another non-qualified defined contribution plan into this Plan, and in connection therewith, to set forth any special provisions that may apply to the participants in such other plan on an Exhibit attached hereto." IN WITHNESS WHEREOF, this Amendment has been executed by the Company as of the day and year first above written. BB&T CORPORATION By: /s/ Robert E. Greene --------------------------- President Attest: /s/ Jerone C. Herring - -------------------------------- Secretary [Corporate Seal] 1