Common use of Allocation of Supplemental Contributions Clause in Contracts

Allocation of Supplemental Contributions. For each Plan Year, the Committee or its designee shall allocate the Supplemental Contribution made by an Employer among the Participants who are employed by the Employer during the Plan Year, based upon each such Participant’s Considered Compensation paid by the Employer as compared to the Considered Compensation for all such Participants employed by the Employer and eligible for the allocation.

Appears in 2 contracts

Samples: Employee Savings Plan (Quanex Corp), 401(k) Savings Plan (Quanex Corp)

AutoNDA by SimpleDocs

Allocation of Supplemental Contributions. For each Plan Year, the The Committee or its designee shall allocate the Supplemental Contribution Contributions made by an Employer during a Plan Year among the Participants who are employed by the Employer during the Plan Year, based upon each such Participant’s Considered Compensation paid by the Employer as compared to the Considered Compensation for all such Participants who are employed by the Employer and eligible for the allocation.Employer

Appears in 1 contract

Samples: 401(k) Savings Plan Amendment (Quanex Corp)

Allocation of Supplemental Contributions. For each Plan Year, the Committee or may, in its designee shall sole discretion, allocate the Supplemental Contribution. If any such Contribution is made by an the Employer during the Plan Year, it will be allocated among the Participants who are employed by the Employer during the Plan Year, based upon each such Participant’s Considered Compensation paid by the Employer as compared to the Considered Compensation for all such Participants employed by the Employer and eligible for the allocation.

Appears in 1 contract

Samples: 401(k) Savings Investment Plan Amendment (Furmanite Corp)

AutoNDA by SimpleDocs

Allocation of Supplemental Contributions. For each Plan Year, the Committee or its designee shall allocate the Supplemental Contribution made by an Employer among the Participants who are employed by the Employer during the Plan YearYear and working at or in connection with a particular plant or division of the Employer, based upon each such Participant’s Considered Compensation paid by the Employer as compared to the Considered Compensation for all such Participants employed by the Employer and eligible for the allocationEmployer.

Appears in 1 contract

Samples: 401(k) Plan Amendment and Restatement (Quanex Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!