Alternative Action. In the event it shall become impossible for the Bank, the Holding Company or the Plan Administrator to perform any act required by this Agreement, the Bank, the Holding Company or Plan Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Bank.
Appears in 3 contracts
Samples: Salary Continuation Agreement (Appalachian Bancshares Inc), Salary Continuation Agreement (Appalachian Bancshares Inc), Salary Continuation Agreement (Appalachian Bancshares Inc)
Alternative Action. In the event it shall become impossible for the Bank, Company and/or the Holding Company Bank or the Plan Administrator to perform any act required by this Agreement, the Bank, Company and/or the Holding Company Bank or Plan Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Company and/or the Bank, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 2 contracts
Samples: Director Deferred Compensation Agreement (Sussex Bancorp), Director Deferred Compensation Agreement (Sussex Bancorp)
Alternative Action. In the event it shall become impossible for the BankCompany, the Holding Company Bank or the Plan Administrator to perform any act required by this Agreement, the BankCompany, the Holding Company Bank or Plan Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Company and the Bank.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Fentura Financial Inc)
Alternative Action. In the event it shall become impossible for the Bank, the Holding Company Bank or the Plan Agreement Administrator to perform any act required by this Agreement, the Bank, the Holding Company Bank or Plan Agreement Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Bank.
Appears in 1 contract
Samples: Executive Supplemental Income Agreement (Origin Bancorp, Inc.)
Alternative Action. In the file event it shall become impossible for the Bank, the Holding Company Bank or the Plan Administrator to perform any act required by this Agreement, the Bank, the Holding Company Bank or Plan Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Agreement and is in the best interests of the Bank.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Lyons Bancorp Inc)
