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 matched Catch-up Salary Deferral Contributions, and matched After–Tax Contributions of each such Participant bear to the total matched Salary Deferral 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
Sources: Employee 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 the proportion which the matched Salary Deferral Contributions Contributions, matched Catch-up Salary Deferral Contributions, and matched After–-Tax Contributions of each such Participant bear to the total matched Salary Deferral Contributions, matched Catch-up Salary Deferral Contributions, 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
Sources: 401(k) Plan Amendment and Restatement (Quanex Corp)