Disregard of Certain Service. If an Employee incurs a Separation From Service at a time when he does not have a Nonforfeitable Interest in a portion of his Matching Contribution Account balance or his Supplemental Contribution Account balance and his Period of Severance continues for a continuous period of five years or more, the Period of Service completed by the Employee before the Period of Severance shall not be taken into account as Active Service, if his Period of Severance equals or exceeds his Period of Service, whether or not consecutive, completed before the Period of Severance.
Appears in 6 contracts
Samples: 401(k) Savings Plan (Quanex Corp), Employee Savings Plan (Quanex Corp), 401(k) Plan Amendment and Restatement (Quanex Corp)
Disregard of Certain Service. If such an Employee incurs a Separation From Service at a time when he does not have a Nonforfeitable Interest in a portion of his Matching Contribution Account balance or his Supplemental Contribution Account balance and his Period of Severance continues for a continuous period of five years or more, the Period of Service completed by the Employee before the Period of Severance shall not be taken into account as Active Service, if his Period of Severance equals or exceeds his Period of Service, whether or not consecutive, completed before the Period of Severance.
Appears in 3 contracts
Samples: 401(k) Savings Plan (Quanex Corp), 401(k) Savings Plan Amendment and Restatement (Quanex Corp), 401(k) Savings Plan Amendment and Restatement (Quanex Corp)
Disregard of Certain Service. If an Employee incurs a Separation From Service at a time when he does not have a Nonforfeitable Interest in a portion of his Matching Contribution Account balance or his Supplemental Contribution Account balance and his Period of Severance continues for a continuous period of five years or more, the Period of Service completed by the Employee before the Period of Severance shall not be taken into account as Active Service, for Vesting Service purposes if his Period of Severance equals or exceeds his Period of Service, whether or not consecutive, completed before the Period of Severance.
Appears in 3 contracts
Samples: 401(k) Savings Investment Plan (Furmanite Corp), 401(k) Savings Investment Plan Amendment (Furmanite Corp), 401(k) Savings Investment Plan (Xanser Corp)
Disregard of Certain Service. If an Employee incurs a Separation From Service at a time when he does not have a Nonforfeitable Interest nonforfeitable interest in a portion of his Matching Contribution Account balance or his Supplemental Contribution Account balance and his Period of Severance continues for a continuous period of five years or more, the Period of Service completed by the Employee before the Period of Severance shall not be taken into account as Active Service, for Vesting Service purposes if his Period of Severance equals or exceeds his Period of Service, whether or not consecutive, completed before the Period of Severance.
Appears in 2 contracts
Samples: 401(k) Savings Plan (Kaneb Services LLC), 401(k) Savings Plan (Kaneb Services LLC)
Disregard of Certain Service. If an Employee incurs a Separation From Service at a time when he does not have a Nonforfeitable Interest in a portion of his Matching Contribution Account balance or his Supplemental Contribution Account balance and his Period of Severance continues for a continuous period of five years or more, the Period of Service completed by the Employee before the Period of Severance shall not be taken into account as Active Service, if his Period of Severance equals or exceeds his Period of Service, whether or not consecutive, completed before the Period of Severance.
Appears in 1 contract
Samples: Hourly Bargaining Unit Employees Savings Plan (Quanex Corp)
