ALLOCATION OF MATCHING CONTRIBUTIONS. The Committee or its designee shall separately allocate the Matching Contribution made by an Employer among the Employer's Participants in the proportion which the matched Salary Deferral Contributions and matched After-Tax Contributions of each such Participant bears to the total matched Salary Deferral Contributions and matched After-Tax Contributions of all such Participants. Each Participant's proportionate share shall be credited to his Matching Contribution Account.
Appears in 2 contracts
Samples: Employee Savings Plan (Quanex Corp), Employee Savings Plan (Quanex Corp)
ALLOCATION OF MATCHING CONTRIBUTIONS. The Committee or its designee shall separately allocate the Matching Contribution made by an Employer among the Employer's Participants in the proportion which the matched Salary Deferral Contributions Contributions, matched Catch-up Salary Deferral Contributions, and matched After-Tax Contributions of each such Participant bears bear to the total matched Salary Deferral Contributions and matched After-Tax Contributions of all such Participants. Each Participant's proportionate share shall be credited to his Matching Contribution Account.
Appears in 1 contract
Samples: 401(k) Plan Amendment and Restatement (Quanex Corp)
ALLOCATION OF MATCHING CONTRIBUTIONS. The Committee or its designee shall separately allocate the Matching Contribution made by an Employer among the Employer's Participants in based upon the proportion which the matched Matched Salary Deferral Contributions and matched After-Tax Contributions of each such Participant bears to the total matched Salary Deferral Contributions and matched After-Tax Contributions of all such ParticipantsParticipant. Each Participant's proportionate share shall be credited to his Matching Contribution Account.
Appears in 1 contract
ALLOCATION OF MATCHING CONTRIBUTIONS. The Committee or its designee shall separately allocate the Matching Contribution made by an Employer among the Employer's Participants in the proportion which the matched Salary Deferral Contributions and matched AfterCatch-Tax up Salary Deferral Contributions of each such Participant bears bear to the total matched Salary Deferral Contributions and matched AfterCatch-Tax up Salary Deferral Contributions of all such Participants. Each Participant's proportionate share shall be credited to his Matching Contribution Account.
Appears in 1 contract
Samples: 401(k) Savings Plan Amendment and Restatement (Quanex Corp)
