Document:

EX-4.5

 Exhibit 4.5 

SECOND SUPPLEMENTAL INDENTURE 

SECOND SUPPLEMENTAL INDENTURE, dated as of April 1, 2016 (this “Supplemental Indenture”), by and between NATIONAL PENN
BANCSHARES, INC., a Pennsylvania corporation (hereinafter called the “Company”), having its principal executive office located at 645 Hamilton Street, Suite 1100, Allentown, Pennsylvania 18101, BB&T CORPORATION, a North Carolina
corporation (hereinafter called the “Surviving Company”), having its principal executive office located at 200 West Second Street, Winston-Salem, North Carolina 27101, and U.S. BANK NATIONAL ASSOCIATION, a national banking
association (hereinafter called the “Trustee”), having a Corporate Trust Office at 2 Liberty Place EX-PA-WBSP 50 S. 16th Street Suite 2000 Philadelphia, PA 19102, as Trustee under the Indenture (as hereinafter defined). 

RECITALS 
 WHEREAS, the
Company and the Trustee have entered into a Senior Debt Securities Indenture (as supplemented by that certain First Supplemental Indenture, dated as of September 16, 2014, the “Original Indenture” and, as supplemented hereby,
the “Indenture”), dated as of September 16, 2014, providing for the issuance by the Company from time to time of its senior debt securities, including its 4.250% Senior Notes due 2024 (the “2024 Notes”); 

WHEREAS, on the date hereof, the Company is merging with and into the Surviving Company, with the Surviving Company being the surviving Person
of such merger (the “Merger”); 
 WHEREAS, pursuant to Section 9.1(1) of the Indenture, the Trustee is authorized to
execute and deliver this Supplemental Indenture; and 
 WHEREAS, concurrently with the execution hereof, the Company has delivered to the
Trustee an Officers’ Certificate and has caused its counsel to deliver to the Trustee an Opinion of Counsel. 
 NOW, THEREFORE, THIS
SUPPLEMENTAL INDENTURE WITNESSETH: 
 For and in consideration of the mutual premises and agreements herein contained, the Company, the
Surviving Company, and the Trustee covenant and agree, for the equal and proportionate benefit of all Holders of the Securities, as follows: 

1 Definitions. Unless otherwise provided herein or unless the context otherwise requires, terms defined in the Original Indenture have
the same meaning when used in this Supplemental Indenture. 
 2. Assumption of Obligations. Effective upon consummation of the
Merger, the Surviving Company, pursuant to Article VIII of the Indenture, hereby expressly assumes and agrees to pay, perform and discharge when due each and every debt, obligation, covenant and agreement incurred, made or to be paid, performed or
discharged by the Company under the Indenture and the Securities. The Surviving Company hereby agrees to be bound by all the terms, provisions and conditions of the Indenture and the Securities. The parties hereto agree that the Surviving Company
shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture with the same effect as if the Surviving Company had been named as the Company therein. 

 3. Benefits of Supplemental Indenture. Nothing contained in this Supplemental Indenture,
express or implied, shall give to any Person, other than the parties hereto, any Security Registrar, any Paying Agent and their successors under the Indenture and the Holders of Securities (including the 2024 Notes) or Coupons, any benefit or any
legal or equitable right, remedy or claim under the Indenture. 
 4. Effective Date. This Supplemental Indenture shall be effective
as of the date first above written and upon the execution and delivery hereof by each of the parties hereto. 
 5. Governing Law.
This Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made or instruments entered into and, in each case, performed in said State. 

6. Counterparts. This Supplemental Indenture may be executed in several counterparts, each of which shall be an original and all of
which shall constitute but one and the same instrument. 
 7. Separability Clause. In case any provision in this Supplemental
Indenture shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not, to the fullest extent permitted by law, in any way be affected or impaired thereby. 

[Signature pages follow] 

  
 - 2 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed by their
respective officers hereunto duly authorized, all as of the day and year first above written. 
  

					
	NATIONAL PENN BANCSHARES, INC.
		
	By:	 	 /s/ Scott V. Fainor

		 	Name:	 	Scott V. Fainor
		 	Title:	 	President & Chief Executive Officer
	
	BB&T CORPORATION
		
	By:	 	 /s/ Hal S. Johnson

		 	Name:	 	Hal S. Johnson
		 	Title:	 	Executive Vice President and Treasurer
	
	U.S. BANK NATIONAL ASSOCIATION
		
	By:	 	 /s/ Terence C. McPoyle

		 	Name:	 	Terence C. McPoyle
		 	Title:	 	Vice President

  
 [Signature Page to Second
Supplemental Indenture]EX-10.1

 Exhibit 10.1 

BB&T Corporation 

200 West Second Street 

Winston-Salem, NC 27101 

April 1, 2016 
 The Bank of New York Mellon
Trust Company, N.A. 
 as Institutional Trustee and Delaware Trustee 

500 Ross Street, 12th Floor 
 Pittsburgh, PA 15262 

Attn: Corporate Trust Administration 
  

	 	Re:	NPB Capital Trust III 

 Ladies and Gentlemen: 

By virtue of the merger between National Penn Bancshares, Inc., a bank holding company incorporated in the Commonwealth of Pennsylvania
(“National Penn”) and BB&T Corporation, a North Carolina corporation (“BB&T”), pursuant to the Agreement and Plan of Merger, dated as of August 17, 2015, by and between BB&T and National Penn (the
“Merger Agreement”), BB&T, as the surviving corporation, does hereby agree, affirm and acknowledge that, effective as of the Effective Time (as defined in the Merger Agreement), it expressly assumes all the duties, warranties,
and obligations of National Penn under (i) the Junior Subordinated Debt Securities due April 23, 2034 (the “Debt Securities”) issued pursuant to the Indenture, dated as of February 20, 2004, between National Penn and
The Bank of New York Mellon Trust Company, N.A., as successor-in-interest to JPMorgan Chase Bank, as Trustee (the “Indenture”), (ii) the Indenture, (iii) the Amended and Restated Declaration of Trust of NPB Capital Trust
III, dated as of February 20, 2004 (the “Declaration”), among National Penn, as Sponsor, The Bank of New York Mellon Trust Company, N.A., as successor-in-interest to Chase Manhattan Bank USA, National Association, as Delaware
Trustee, The Bank of New York Mellon Trust Company, N.A., as successor-in-interest to JPMorgan Chase Bank, as Institutional Trustee, the Administrators named therein, and the holders from time to time of undivided beneficial interests in the assets
of the Trust (as defined therein) and (iv) the Guarantee Agreement, dated as of February 20, 2004 (the “Guarantee”), between National Penn, as Guarantor, and The Bank of New York Mellon Trust Company, N.A., as
successor-in-interest to JPMorgan Chase Bank, as Guarantee Trustee, for the benefit of the Holders (as defined therein) from time to time of the Capital Securities (as defined therein) of NPB Capital Trust III. 

As to all matters relating to the Declaration, this letter shall be governed by, and construed in accordance with, the laws of the State of
Delaware without regard to its conflict of laws principles. Except as set forth in the immediately preceding sentence, this letter shall be governed by, and construed in accordance with, the laws of the State of New York without regard to its
conflict of laws principles other than Section 5-1401 of the New York General Obligations Law. The undersigned (i) irrevocably submits itself to the non-exclusive jurisdiction and venue of any United States federal court or New York state
court, in each case located in the Borough of Manhattan, The City of New York in any action arising out of this letter, and (ii) consents to the service of process by mail. 

[Signature page follows.] 

			
	Very truly yours,
	
	BB&T CORPORATION
		
	By:	 	 /s/ Hal S. Johnson

	Name:	 	Hal S. Johnson
	Title:	 	Executive Vice President and TreasurerEX-10.2

 Exhibit 10.2 

BB&T Corporation 

200 West Second Street 

Winston-Salem, NC 27101 

April 1, 2016 
 Wilmington Trust Company

 as Institutional Trustee and Delaware Trustee 

Rodney Square North 
 1100 North Market Street 

Wilmington, DE 19890 
 Attention: Corporate Trust Administration

  

	 	Re:	NPB Capital Trust IV 

 Ladies and Gentlemen: 

By virtue of the merger between National Penn Bancshares, Inc., a bank holding company incorporated in the Commonwealth of Pennsylvania
(“National Penn”) and BB&T Corporation, a North Carolina corporation (“BB&T”), pursuant to the Agreement and Plan of Merger, dated as of August 17, 2015, by and between BB&T and National Penn (the
“Merger Agreement”), BB&T, as the surviving corporation, does hereby agree, affirm and acknowledge that, effective as of the Effective Time (as defined in the Merger Agreement), it expressly assumes all the duties, warranties,
and obligations of National Penn under (i) the Floating Rate Junior Subordinated Debt Securities due 2034 (the “Debt Securities”) issued pursuant to the Indenture, dated as of March 25, 2004, between National Penn and
Wilmington Trust Company, as Trustee (the “Indenture”), (ii) the Indenture, (iii) the Amended and Restated Declaration of Trust of NPB Capital Trust IV, dated as of March 25, 2004 (the “Declaration”),
among National Penn, as Sponsor, Wilmington Trust Company, as Institutional Trustee and Delaware Trustee, the Administrators named therein, and the holders from time to time of undivided beneficial interests in the assets of the Trust (as defined
therein) and (iv) the Guarantee Agreement, dated as of March 25, 2004 (the “Guarantee”), between National Penn, as Guarantor, and Wilmington Trust Company, as Guarantee Trustee, for the benefit of the Holders (as defined
therein) from time to time of the Capital Securities (as defined therein) of NPB Capital Trust IV. 
 As to all matters relating to the
Declaration, this letter shall be governed by, and construed in accordance with, the laws of the State of Delaware without regard to its conflict of laws principles. Except as set forth in the immediately preceding sentence, this letter shall be
governed by, and construed in accordance with, the laws of the State of New York without regard to its conflict of laws principles other than Section 5-1401 of the New York General Obligations Law. The undersigned (i) irrevocably submits
itself to the non-exclusive jurisdiction and venue of any United States federal court or New York state court, in each case located in the Borough of Manhattan, The City of New York in any action arising out of this letter, and (ii) consents to
the service of process by mail. 

 
			
	Very truly yours,
	
	BB&T CORPORATION
		
	By:	 	 /s/ Hal S. Johnson

	Name:	 	Hal S. Johnson
	Title:	 	Executive Vice President and Treasurer

 [Signature Page to NPB Capital Trust IV Assumption Letter]

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