Common use of Alternative Action Clause in Contracts

Alternative Action. In the event it shall become impossible for the Bank or the Plan THE NATIONAL UNION BANK OF KINDERHOOK Phantom Stock Appreciation Rights Agreement Administrator to perform any act required by this Agreement due to regulatory or other constraints, the Bank or Plan Administrator 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 Bank, provided that such alternative act does not violate Code Section 409A.