Document:

Exhibit
10.1

 

 

FIRST
AMENDMENT TO THE

QUANEX CORPORATION EMPLOYEE SAVINGS PLAN

 

THIS AMENDMENT by QUANEX
CORPORATION (the
“Sponsor”),

 

WITNESSETH:

 

WHEREAS,
on December 30, 2002, the Sponsor executed the amendment and restatement
of the Plan known as the “Quanex Corporation Employee Savings Plan” (the
“Plan”);

 

WHEREAS,
pursuant to Section 12.01 of the Plan, the Sponsor has the right to amend
the Plan; and

 

WHEREAS,
the Sponsor desires to amend the Plan to exclude interns and students from the
eligibility provisions of the Plan;

 

NOW,
THEREFORE, the Sponsor agrees that, effective as of July 1,
2003, Section 2.01 of the Plan is amended to provide as follows:

 

2.01         Eligibility Requirements.  Each Eligible Employee shall be eligible to
participate in the Plan beginning on the Entry Date that occurs with or next
follows the date on which the Eligible Employee completes 90 days of Active
Service.  However, an Employee who is
included in a unit of Employees covered by a collective bargaining agreement
between the Employees’ representative and the Employer shall be excluded, even
if he has met the requirements for eligibility, if there has been good faith
bargaining between the Employer and the Employees’ representative pertaining to
retirement benefits and the agreement does not require the Employer to include
such Employees in the Plan.  In
addition, a Leased Employee shall not be eligible to participate in the Plan
unless the Plan’s qualified status is dependent upon coverage of the Leased
Employee.  An Employee who is a
nonresident alien (within the meaning of section 7701(b) of the Code) and
receives no earned income (within the meaning of section 911(d)(2) of the
Code) from any Affiliated Employer that constitutes income from sources within
the United States (within the meaning of section 861(a)(3) of the Code) is
not eligible to participate in the Plan. 
An Employee who is a nonresident alien (within the meaning of section
7701(b) of the Code) and who does receive earned income (within the meaning of
section 911(d)(2) of the Code) from any Affiliated Employer that constitutes
income from sources within the United States (within the meaning of section
861(a)(3) of the Code) all of which is exempt from United States income tax
under an applicable tax convention is not eligible to participate in the
Plan.  During any period in which an
individual is classified by an Employer as an independent contractor with
respect to such Employer, the individual is not eligible to participate in the 

 

 

Plan (even if he is subsequently reclassified by the Internal Revenue
Service as a common law employee of the Employer and the Employer acquiesces to
the reclassification).  During any
period in which an individual is classified by an Employer as an intern or
student with respect to such Employer, the individual is not eligible to
participate in the Plan.  Finally, an
Employee who is employed outside the United States is not eligible to
participate in the Plan unless the Committee elects to permit him to
participate in the Plan.

 

2

 

IN
WITNESS WHEREOF, the Sponsor has executed this Amendment this
2nd day of June, 2003, effective as of July 1, 2003.

 

 

	
   

  	
  QUANEX CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Paul Giddens

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
    Vice President – Human Resources

  	
   

  
						

 

3Exhibit
10.2

 

 

SECOND
AMENDMENT TO THE

QUANEX CORPORATION 401(k) SAVINGS PLAN FOR HOURLY EMPLOYEES

 

THIS AMENDMENT by QUANEX
CORPORATION (the
“Sponsor”),

 

WITNESSETH:

 

WHEREAS,
on February 22, 2002, the Sponsor executed the amendment and restatement of the
Plan known as the “Quanex Corporation 401(k) Savings Plan for Hourly Employees”
(the “Plan”);

 

WHEREAS,
pursuant to Section 13.01 of the Plan, the Sponsor has the right to amend
the Plan; and

 

WHEREAS,
the Sponsor desires to amend the Plan to exclude interns and students from the
eligibility provisions of the Plan;

 

NOW,
THEREFORE, the Sponsor agrees that, effective as of July 1,
2003, Section 1.17 of the Plan is amended to provide as follows:

 

1.17         Eligible Employee.  means an Employee who is (1) compensated by
the Sponsor on an hourly basis and (2) is included in a unit of employees
covered by the Teamsters Collective Bargaining Agreement.  Effective July 1, 1999, “Eligible Employee” also
means an Employee who (1) is compensated on an hourly basis by Nichols Aluminum
Alabama, Inc., a Delaware corporation, and (2) is included in a unit of
employees covered by the Steelworkers Collective Bargaining Agreement.  Effective July 1, 2001, “Eligible Employee” also
means an Employee who (1) is compensated on an hourly basis by Temroc Metals,
Inc., a Minnesota corporation, and (2) is included in a unit of employees
covered by the UAW Collective Bargaining Agreement.  During any period in which an individual is classified by an
Employer as an intern or student with respect to such Employer, the individual
is not eligible to participate in the Plan.

 

 

IN
WITNESS WHEREOF, the Sponsor has executed this Amendment this
2nd day of June, 2003, effective as of July 1, 2003.

 

 

	
   

  	
  QUANEX CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By  :

  	
    /s/ Paul Giddens

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:  

  	
     Vice President – Human Resources

  	
   

  
						

 

2Exhibit
10.3

 

 

THIRD
AMENDMENT TO THE QUANEX CORPORATION

HOURLY BARGAINING UNIT EMPLOYEES SAVINGS PLAN

 

THIS
AMENDMENT by QUANEX
CORPORATION (the “Sponsor”),

 

WITNESSETH:

 

WHEREAS,
on February 14, 2002, the Sponsor executed the amendment and restatement of the
Plan known as the “Quanex Corporation Hourly Bargaining Unit Employees Savings
Plan” (the “Plan”);

 

WHEREAS,
pursuant to Section 12.01 of the Plan, the Sponsor has the right to amend
the Plan; and

 

WHEREAS,
the Sponsor desires to amend the Plan to exclude interns and students from the
eligibility provisions of the Plan;

 

NOW,
THEREFORE, the Sponsor agrees that, effective as of July 1,
2003, Section 1.16 of the Plan is amended to provide as follows:

 

1.16        “Eligible
Employee” means an Employee who (1) is compensated by the
Employer on an hourly basis for services rendered at its MacSteel Michigan
division or, effective February 1, 2001, at its MacSteel Arkansas division, and
(2) is included in a unit of employees covered by a collective bargaining agreement
between an employees’ representative and the Employer.  However, during any period in which an
individual is classified by an Employer as an intern or student with respect to
such Employer, the individual is not an “Eligible Employee.”

 

 

IN
WITNESS WHEREOF, the Sponsor has executed this Amendment this
2nd day of June, 2003, effective as of July 1, 2003.

 

 

	
   

  	
  QUANEX CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Paul Giddens

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:  

  	
  Vice President – Human
  Resources

  	
   

  
						

 

2Exhibit
10.4

 

 

FIRST
AMENDMENT TO THE

PIPER IMPACT 401(k) PLAN

 

THIS
AMENDMENT by QUANEX
CORPORATION (the “Sponsor”),

 

WITNESSETH:

 

WHEREAS,
on December 30, 2002, the Sponsor executed the amendment and restatement
of the Plan known as the “Piper Impact 401(k) Plan” (the “Plan”);

 

WHEREAS,
pursuant to Section 13.01 of the Plan, the Sponsor has the right to amend
the Plan; and

 

WHEREAS,
the Sponsor desires to amend the Plan to exclude interns and students from the
eligibility provisions of the Plan;

 

NOW, THEREFORE,
the Sponsor agrees that, effective as of July 1, 2003, Section 2.01 of the Plan
is amended to provide as follows:

 

2.01                           Eligibility
Requirements.  Each Eligible
Employee who is employed by an Employer shall be eligible to participate in the
Plan beginning on the Entry Date that occurs with or next follows the date on
which the Employee completes 90 days of Active Service.  However, an Employee who is included in a
unit of Employees covered by a collective bargaining agreement between the
Employees’ representative and the Employer shall be excluded, even if he has
met the requirements for eligibility, if there has been good faith bargaining
between the Employer and the Employees’ representative pertaining to retirement
benefits and the agreement does not require the Employer to include such
Employees in the Plan.  In addition, a
Leased Employee shall not be eligible to participate in the Plan unless the
Plan’s qualified status is dependent upon coverage of the Leased Employee.  An Employee who is a nonresident alien
(within the meaning of section 7701(b) of the Code) and receives no earned
income (within the meaning of section 911(d)(2) of the Code) from any
Affiliated Employer that constitutes income from sources within the United
States (within the meaning of section 861(a)(3) of the Code) is not
eligible to participate in the Plan.  An
Employee who is a nonresident alien (within the meaning of section 7701(b) of
the Code) and who does receive earned income (within the meaning of section
911(d)(2) of the Code) from any Affiliated Employer that constitutes income
from sources within the United States (within the meaning of section 861(a)(3)
of the Code) all of which is exempt from United States income tax under an
applicable tax convention is not eligible to participate in the Plan.  During any period in which an individual is
classified by an Employer as an independent contractor with respect to such
Employer, the individual is not eligible to participate in the Plan (even if he
is subsequently reclassified by the Internal Revenue Service as a 

 

 

common law employee of the Employer and the Employer acquiesces to the
reclassification).  During any period in
which an individual is classified by an Employer as an intern or student with
respect to such Employer, the individual is not eligible to participate in the
Plan.  Finally, an Employee who is
employed outside the United States is not eligible to participate in the Plan
unless the Committee elects to permit him to participate in the Plan.

 

2

 

IN
WITNESS WHEREOF, the Sponsor has executed this Amendment this
2nd day of June, 2003, effective as of July 1, 2003.

 

 

	
   

  	
  QUANEX CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By  :

  	
  /s/ Paul Giddens

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:  

  	
  Vice President – Human
  Resources

  	
   

  
						

 

3

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