Partial or Complete Termination or Complete Discontinuance of Contributions. Without regard to any other provision of the Plan, if there is a partial or total termination of the Plan (within the meaning of section 411 of the Code) or there is a complete discontinuance of the Employer’s Contributions (within the meaning of section 411 of the Code), each of the affected Participants shall immediately have a fully Nonforfeitable Interest in his Account as of the end of the last Plan Year for which a substantial Employer Contribution was made and in any amounts later allocated to his Account. If the Employer then resumes making substantial Contributions at any time, the appropriate vesting schedule shall again apply to all amounts allocated to each affected Participant’s Account beginning with the Plan Year for which they were resumed.
Appears in 2 contracts
Samples: 401(k) Savings Plan (Quanex Corp), Employee Savings Plan (Quanex Corp)
Partial or Complete Termination or Complete Discontinuance of Contributions. Without regard to any other provision of the Plan, if there is a partial or total termination of the Plan (within the meaning of section 411 of the Code) or there is a complete discontinuance of the Employer’s Contributions (within the meaning of section 411 of the Code)Contributions, each of the affected Participants shall immediately have a fully Nonforfeitable Interest in his Account as of the end of the last Plan Year for which a substantial Employer Contribution was made and in any amounts later allocated to his Account. If the Employer then resumes making substantial Contributions at any time, the appropriate vesting schedule shall again apply to all amounts allocated to each affected Participant’s Account beginning with the Plan Year for which they were resumed.
Appears in 2 contracts
Samples: 401(k) Savings Plan (Quanex Corp), 401(k) Plan Amendment and Restatement (Quanex Corp)
Partial or Complete Termination or Complete Discontinuance of Contributions. Without regard to any other provision of the Plan, if there is a partial or total termination of the Plan (within the meaning of section 411 of the Code) or there is a complete discontinuance of the Employer’s Contributions (within the meaning of section 411 of the Code)Contributions, each of the affected Participants and former Participants shall immediately have a fully 100 percent Nonforfeitable Interest in his Account as of the end of the last Plan Year for which a substantial Employer Contribution was made and in any amounts later allocated to his Account. If the Employer then resumes making substantial Contributions at any time, the appropriate vesting schedule shall again apply to all amounts allocated to each affected Participant’s and former Participant’s Account beginning with the Plan Year for which they were resumed.
Appears in 2 contracts
Samples: 401(k) Savings Investment Plan (Furmanite Corp), 401(k) Savings Investment Plan Amendment (Furmanite Corp)
Partial or Complete Termination or Complete Discontinuance of Contributions. Without regard to any other provision of the Plan, if there is a partial or total termination of the Plan (within the meaning of section 411 of the Code) or there is a complete discontinuance of the Employer’s Contributions (within the meaning of section 411 of the Code)'s Contributions, each of the affected Participants Members shall immediately have a fully Nonforfeitable Interest become 100 percent vested in his Account as of the end of the last Plan Year for which a substantial Employer Contribution was made and in any amounts later allocated to his Account. If the Employer then resumes making substantial Contributions at any time, the appropriate vesting schedule shall again apply to all amounts allocated to each affected Participant’s Member's Account beginning with the Plan Year for which they were resumed.
Appears in 2 contracts
Samples: 401(k) Savings Plan (Mens Wearhouse Inc), 401(k) Savings Plan Amendment and Restatement (Mens Wearhouse Inc)