Common use of FORFEITURES BY LOST PARTICIPANTS OR BENEFICIARIES Clause in Contracts

FORFEITURES BY LOST PARTICIPANTS OR BENEFICIARIES. If a person who is entitled to a distribution cannot be located during a reasonable search after the Committee has initially attempted making payment, his Account balance shall be forfeited. However, if at any time prior to the termination of the Plan and the complete distribution of the Trust assets, the missing former Participant or Beneficiary files a claim with the Committee for the forfeited Account balance, that Account balance shall be reinstated (without adjustment for trust income or losses during the period of forfeiture) effective as of the date of the receipt of the claim.

Appears in 7 contracts

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

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FORFEITURES BY LOST PARTICIPANTS OR BENEFICIARIES. If a person who is entitled to a distribution cannot be located during a reasonable search after the Committee Trustee has initially attempted making payment, his Account balance shall be forfeited. However, if at any time prior to the termination of the Plan and the complete distribution of the Trust assetsFund, the missing former Participant or Beneficiary files a claim with the Committee for the forfeited Account balance, that Account balance shall be reinstated (without adjustment for trust income or and losses during the period of forfeitureforfeited period) effective as of the date of the receipt of the claim.

Appears in 2 contracts

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

FORFEITURES BY LOST PARTICIPANTS OR BENEFICIARIES. If a person who is entitled to a distribution cannot be located during a reasonable search after the Committee has initially attempted making payment, his Account balance shall be forfeited. However, if at any time prior to the termination of the Plan and the complete distribution of the Trust assets, the missing missing IX-1 former Participant or Beneficiary files a claim with the Committee for the forfeited Account balance, that Account balance shall be reinstated (without adjustment for trust income or losses during the period of forfeiture) effective as of the date of the receipt of the claim.

Appears in 2 contracts

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

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FORFEITURES BY LOST PARTICIPANTS OR BENEFICIARIES. If a person who is entitled to a distribution cannot be located during a reasonable search after the Committee has initially IX-1 attempted making payment, his Account balance shall be forfeited. However, if at any time prior to the termination of the Plan and the complete distribution of the Trust assets, the missing former Participant or Beneficiary files a claim with the Committee for the forfeited Account balance, that Account balance shall be reinstated (without adjustment for trust income or losses during the period of forfeiture) effective as of the date of the receipt of the claim.

Appears in 1 contract

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

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