Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the 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 Company, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 49 contracts
Samples: Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp), Director Retirement Agreement (Plumas Bancorp)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the 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 Company, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 38 contracts
Samples: Westbury Bank Salary Continuation Agreement (Westbury Bancorp, Inc.), Salary Continuation Agreement (Westbury Bancorp, Inc.), Salary Continuation Agreement (Westbury Bancorp, Inc.)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this AgreementAgreement due to regulatory or other constraints, the 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 Company, provided that such alternative acts do act does not violate Code Section 409A of the Code.409A.
Appears in 9 contracts
Samples: Salary Continuation Agreement (Fidelity Federal Bancorp), Salary Continuation Agreement (Floridian Financial Group Inc), Salary Continuation Agreement (Floridian Financial Group Inc)
Alternative Action. In the event it shall become impossible for the Company Corporation or the Plan Administrator to perform any act required by this Agreement, the Company Corporation 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 CompanyCorporation, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 5 contracts
Samples: Continuation Agreement (National Bankshares Inc), Supplemental Executive Retirement Plan Agreement (Habersham Bancorp), Supplemental Executive Retirement Plan Agreement (Habersham Bancorp)
Alternative Action. In the event it shall become impossible for the Company Corporation or the Plan Administrator to perform any act required by this AgreementAgreement due to regulatory or other constraints, the Company Corporation 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 CompanyCorporation, provided that such alternative acts do act does not violate Code Section 409A of the Code.409A.
Appears in 5 contracts
Samples: Supplemental Executive Retirement Agreement (CenterState Banks, Inc.), Supplemental Executive Retirement Agreement (CenterState Banks, Inc.), Supplemental Executive Retirement Agreement (CenterState Banks, Inc.)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the Company Company, Corporation, 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, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 3 contracts
Samples: Salary Continuation Agreement (First Security Group Inc/Tn), Salary Continuation Agreement (First Security Group Inc/Tn), Salary Continuation Agreement (First Security Group Inc/Tn)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the 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 Company, provided that such alternative acts do not violate . The following Sections 9.14 and 9.15 shall be added to the Agreement immediately following Section 409A of the Code.9.13:
Appears in 3 contracts
Samples: Vision Bancshares Inc, Park National Corp /Oh/, Park National Corp /Oh/
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this AgreementAgreement due to regulatory or other constraints, the 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 Company, provided that such alternative acts do not violate Code Section 409A of the Code.
Appears in 3 contracts
Samples: Salary Continuation Agreement (First Keystone Corp), Salary Continuation Agreement (First Keystone Corp), Director Retirement Agreement (Sierra Bancorp)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the 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 Company, provided that such alternative acts do not violate Section 409A of the Code.. GREER STATE BANK Amended and Restated Salary Continuation Agreement
Appears in 2 contracts
Samples: Continuation Agreement (Greer Bancshares Inc), Continuation Agreement (Greer Bancshares Inc)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator plan administrator to perform any act required by this AgreementAgreement due to regulatory or other constraints, the Company or Plan Administrator 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, provided that such alternative acts do not violate Code Section 409A of the Code.. The following Section 8.12 shall be added to the Agreement immediately following Section 8.11:
Appears in 2 contracts
Samples: Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.), Supplemental Executive Retirement Agreement (LaPorte Bancorp, Inc.)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the Company or Plan Administrator may may, in its discretion 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, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 2 contracts
Samples: First Farmers and Merchants Corporation Director Deferred Compensation Agreement (First Farmers & Merchants Corp), Director Deferred Compensation Agreement (First Farmers & Merchants Corp)
Alternative Action. In the event it shall become impossible for the Company Corporation or the Plan Administrator to perform any act required by this AgreementPlan, the Company Corporation or Plan Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Agreement Plan and is in the best interests of the CompanyCorporation, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 2 contracts
Samples: Deferred Compensation Agreement (Choiceone Financial Services Inc), Deferred Compensation Agreement (Choiceone Financial Services Inc)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this AgreementAgreement due to regulatory or other constraints, the 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 Company, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 2 contracts
Samples: Salary Continuation Agreement (United Bancshares Inc/Oh), Salary Continuation Agreement (United Bancshares Inc/Oh)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the 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 Company, provided that such alternative acts do not violate Section 409A of the Code.. 8.9
Appears in 2 contracts
Samples: Grange National (Grange National Banc Corp), Grange National (Grange National Banc Corp)
Alternative Action. In in the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the 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 Company, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 2 contracts
Samples: Salary Continuation Agreement (Community Financial Corp /Md/), Salary Continuation Agreement (Community Financial Corp /Md/)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this Agreement, the Company or Plan Administrator may in its discretion perform pertain’ 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 1 contract
Samples: Executive Incentive Retirement Plan (Sterling Bancorp, Inc.)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this AgreementPlan, the Company or Plan Administrator may in its discretion perform such alternative act as most nearly carries out the intent and purpose of this Agreement Plan and is in the best interests of the Company, provided that such alternative acts do not violate Section 409A of the Code.
Appears in 1 contract
Samples: Cascade Financial Corp
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required requited by this the Agreement, the 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 Company, provided that such . Any alternative acts shall be restricted to actions which do not violate Section 409A of the Code.. The following Section 9.14 shall be added to the Agreement immediately following Section 9.13:
Appears in 1 contract
Samples: Salary Continuation Agreement (Westbury Bancorp, Inc.)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this the Agreement, the 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 Company, provided that such . Any alternative acts shall be restricted to actions which do not violate Section 409A of the Code.. The third sentence of Section 9.14(b) of the Agreement is hereby revised to read as follows:
Appears in 1 contract
Samples: Porter Bancorp, Inc.
Alternative Action. In the event it shall become impossible for the Company Employer or the Plan Administrator to perform any act required by this Agreement, the Company Employer 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, provided that such alternative acts do not violate Section 409A of the CodeEmployer.
Appears in 1 contract
Samples: Supplemental Executive Retirement Agreement (Union Bankshares Inc)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this the Agreement, the 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 Company, provided that such . Any alternative acts shall be restricted to actions which do not violate Section 409A of the Code.. The following Section 9.14 shall be added to the Agreement immediately following Section 9.13:
Appears in 1 contract
Samples: Salary Continuation Agreement (Westbury Bancorp, Inc.)
Alternative Action. In the event it shall become impossible for the Company or the Plan Administrator to perform any act required by this the Agreement, the 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 Company, provided that such . Any alternative acts shall be restricted to actions which do not violate Section 409A of the Code.. The following Sections 9.15 and 9.16 shall be added to the Agreement immediately following Section 9.14:
Appears in 1 contract
