Fiduciary Responsibility Clause Samples

Fiduciary Responsibility. (a) The Trustee shall discharge its duties under this Trust Agreement in effectuating the Plan in a manner consistent with the objectives of this Trust Agreement and the Plan. The Trustee shall not be liable for any loss sustained by the Trust Fund by reason of the purchase, retention, sale or exchange of any investment in good faith and in accordance with the provisions of this Trust Agreement. The Trustee shall have no responsibility or liability for any failure of the Company to make contributions to the Trust Fund or for any insufficiency of assets in the Trust Fund to pay Benefits when due. The Trustee shall not be liable hereunder for any act taken or omitted to be taken in good faith, except for its own negligence or misconduct. (b) No bond shall be required of the Trustee unless otherwise required by law. (c) The Trustee's duties and obligations shall be limited to those expressly imposed upon it by this Trust Agreement. (d) The Company at any time may employ as agent (to perform any act, keep any records or accounts, or make any computations required of the Company or the Committee by this Trust Agreement or the Plan) the individual, corporation or association serving as Trustee hereunder. Nothing done by said individual, corporation or association as such agent shall affect its responsibilities or liability as Trustee hereunder.

Fiduciary Responsibility. Plan Sponsor acknowledges that it is the named fiduciary with respect to the Plan. Plan Sponsor understands and agrees that it and the Plan Administrator have delegated to MHHSI the authority to determine the Plan design but that Plan Sponsor and the Plan Administrator shall maintain discretion to accept such Plan design and shall maintain full responsibility for continued compliance with all provisions of applicable federal, state, and local laws, including, but not limited to: ERISA; the Internal Revenue Code of 1986, as amended; the Consolidated Omnibus Reconciliation Act of 1985, as amended (“COBRA”); the Family and Medical Leave Act of 1993, as amended; the Health Insurance Portability and Accountability Act of 1996, as may be amended (“HIPAA”); the Mental Health Parity Act of 1996, as may be amended; the Newborns’ and Mothers’ Health Protection Act of 1996, as may be amended; the Women’s Health and Cancer Rights Act of 1998, as may be amended; the Deficit Reduction Act of 1984, as amended; and the Tax Equity and Fiscal Responsibility Act of 1982, as amended. Plan Sponsor acknowledges that Plan compliance shall include, but not be limited to, the following: preparation and filing of Forms 5500 [or 990 for 501(c) tax-exempt funds] and all related schedules; preparation or review of all ERISA required plan documentation; advising Covered Persons of their rights under any federal, state or local law, and the preparation and distribution of any notices, except for certificates of creditable coverage, required to be distributed under such laws; and preparation, distribution and filing of all reports related to the Plan required under any federal, state or local law, including but not limited to with the Internal Revenue Service and with the U.S. Department of Labor.

Fiduciary Responsibility. Client acknowledges that: (i) Consultant shall have no discretionary authority or discretionary control respecting the management of any of the employee benefit plans; (ii) Consultant shall exercise no authority or control with respect to management or disposition of the assets of Client's employee benefit plans; and (iii) Consultant shall perform services pursuant to this Agreement in a non-fiduciary capacity. Client agrees to notify Consultant as soon as possible of any proposed amendments to the plans' legal documents to the extent that the amendments would affect Consultant in the performance of its obligations under this Agreement. Client agrees to submit (or cause its agent, consultants or vendors to submit) all information in its (or their) control reasonably necessary for Consultant to perform the services covered by this Agreement.

Fiduciary Responsibility. If the Operator assumes management responsibility over Your funds, the Operator shall maintain such funds in a fiduciary capacity to You. Any interest on money received and held for You by the Operator shall be Your property.

Fiduciary Responsibility. UCB, the Bank and Employee agree and ------------------------ acknowledge that UCB and the Bank (and their subsidiaries and affiliates) may entrust Employee with highly sensitive confidential, restricted and proprietary information concerning various "Business Opportunities" (hereinafter defined), customer lists, and personnel matters. Employee acknowledges that, as an essential incident of Employee's employment with UCB and the Bank, Employee shall have a fiduciary responsibility to UCB and the Bank to protect such information from use or disclosure that is not necessary for the performance of Employee's duties hereunder.

Fiduciary Responsibility. The General Partner shall have a fiduciary responsibility for the safekeeping and use of all funds and assets of the Partnership, whether or not in its immediate possession or control, and the General Partner shall not employ or permit another to employ such funds or assets in any manner except for the exclusive benefit of the Partnership.

Fiduciary Responsibility. CTFS and Employee mutually agree and ------------------------ acknowledge that CTFS and the Bank (and their subsidiaries and affiliates) may entrust Employee with highly sensitive confidential, restricted and proprietary information concerning various "Business Opportunities" (hereinafter defined), customer lists, and personnel matters. Employee acknowledges that, as an essential incident of Employee's employment with CTFS, Employee shall bear a fiduciary responsibility to CTFS to protect such information from use or disclosure that is not necessary for the performance of Employee's duties hereunder.

Fiduciary Responsibility. The Company or the Pension Fund ------------------------------------ Committee of the Company (as the case may be) intends by this Article to delegate to Investment Managers all fiduciary responsibility with respect to the assets of the Trust Fund that are invested, managed and controlled by, and under the custody of the Investment Manager. Unless the Trustee by action or failure to act participates in or undertakes to conceal an act or omission of an Investment Manager, the Trustee shall incur no liability for any loss of any kind which may result (i) solely by reason of any action taken by it in accordance with any direction of such Investment Manager or (ii) by reason of any act or omission of an Investment Manager and, except where the Trustee has failed fully to perform and discharge all of its duties and obligations under this Agreement, the Company shall indemnify and hold harmless the Trustee for any legal liability judicially imposed by a court of competent jurisdiction on the Trustee solely as a result of complying with the instructions of an Investment Manager appointed by the Company or the Pension Fund Committee of the Company or solely as a result of any act or omission of the Investment Manager. The Trustee shall not be deemed to be a party to or to have any obligations under any agreement with any Investment Manager, except as otherwise provided for herein. On receipt of directions from an Investment Manager the Trustee shall promptly make, execute, acknowledge and deliver any and all documents of transfer and conveyance and any and all other instruments that may be necessary or appropriate to carry out such directions. The Trustee shall not be deemed to have participated in any act or omission of the Investment Manager solely by reason of acting or failing to act in accordance with the direction of the Investment Manager.

Fiduciary Responsibility. (a) For purposes of ERISA, the Board of Directors of Arkla, Inc., the Committee, the Director of Investments, the Company's Director of Compensation and Benefits, and IDS Trust will be the "named fiduciaries" with respect to the Plan and the Trust fund, but only to the extent that each named fiduciary exercises any discretionary authority or discretionary control with respect to the management or disposition of assets of the Trust fund, or otherwise is a Fiduciary. (b) The Board's responsibilities as a named fiduciary are to appoint the Trustee and the Committee. (c) Except as provided in Section 3.2(e), whenever a person or organization (the "Delegating Party") has the power and authority under the Plan or this Trust Agreement to delegate discretionary power and authority respecting the control, management, operation or administration of the Plan or any portion of the Trust fund to another person or organization (the "Appointee"), the Delegating Party's responsibility with respect to such delegation is limited to the selection of the Appointee and a periodic review of the Appointee's performance and compliance with applicable law or regulations. Any breach of fiduciary responsibility by the Appointee which is not proximately caused by the Delegating Party's failure to properly select or supervise the Appointee, and in which breach the Delegating Party does not otherwise participate, will not be considered to be a breach of fiduciary responsibility by the Delegating Party. (d) Subject to the provisions of Section 3.3(c), the Participating Affiliates, the Committee, the Director of Investments, and the Director of Compensation and Benefits will not have any discretion, direction or control over the investment decisions of a Participant or Beneficiary, IDS Trust or any Investment Manager with respect to the assets of the Trust fund for which such individual or entity has investment responsibility. (e) Subject only to the provision of Section 3.3(c), neither the Participating Affiliates, the Committee, the Director of Investments, nor the Director of Compensation and Benefits will be responsible or liable for any losses or other unfavorable investment results arising from the investment, reinvestment and management of any assets of the Trust fund by any Investment Manager, including IDS Trust, or (to the extent permitted under Section 404(c) of ERISA) by any Participant or Beneficiary. (f) In the event that a Fiduciary succeeds to the management and control o...