LIABILITY AND RESPONSIBILITY. B&W shall have sole responsibility for the administration of each B&W Excess Plan and the B&W New SERP and the payment of benefits thereunder to or on behalf of B&W Employees and Former B&W Employees, and no member of the ▇▇▇▇▇▇▇▇▇ Group shall have any liability or responsibility therefor. MII shall have sole responsibility for the administration of each ▇▇▇▇▇▇▇▇▇ Excess Plan and the ▇▇▇▇▇▇▇▇▇ SRPP and the payment of benefits thereunder to or on behalf of ▇▇▇▇▇▇▇▇▇ Employees and Former ▇▇▇▇▇▇▇▇▇ Employees, and no member of the B&W Group shall have any liability or responsibility therefor.
Appears in 3 contracts
Sources: Employee Matters Agreement (Babcock & Wilcox Co), Employee Matters Agreement (McDermott International Inc), Employee Matters Agreement (Babcock & Wilcox Co)