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 Catch-up Salary Deferral Contributions of each such Participant bear to the total matched Salary Deferral Contributions and matched Catch-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 (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 Salary Deferral Contributions and matched Catch-up Matched Salary Deferral Contributions of each such Participant bear to the total matched Salary Deferral Contributions and matched Catch-up Salary Deferral Contributions of all such ParticipantsParticipant. Each Participant’s proportionate share shall be credited to his Matching Contribution Account.
Appears in 1 contract
Samples: 401(k) Savings Investment Plan Amendment (Furmanite 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 and Contributions, matched Catch-up Salary Deferral Contributions, and matched After-Tax Contributions of each such Participant bear to the total matched Salary Deferral Contributions and matched CatchAfter-up Salary Deferral 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 the proportion which the matched Salary Deferral Contributions and matched Catch-up Salary Deferral Contributions, and matched After–Tax Contributions of each such Participant bear to the total matched Salary Deferral Contributions and Contributions, matched Catch-up 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: Employee Savings Plan (Quanex Corp)
