Alternative Action. In the event it shall become impossible for the Company or the Employer to perform any act required by this Agreement due to regulatory or other constraints, the Company or the Employer may 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, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 2 contracts
Sources: Supplemental Executive Retirement Agreement (Midwest Banc Holdings Inc), Supplemental Executive Retirement Agreement (Midwest Banc Holdings Inc)