Common use of Limitation of Responsibilities Clause in Contracts

Limitation of Responsibilities. Except as may otherwise be required under applicable law, neither the Trustee nor any of its agents shall have any responsibility for: (a) Determining the correctness of the amount of any contribution for the sole collection or payment of contributions, which shall be the sole responsibility of the Employer; (b) Loss or breach caused by any Participant's exercise of control over his Accounts, which shall be the sole responsibility of the Participant; (c) Loss or breach caused by the Employer's exercise of control over Accounts pursuant to Section 13.3, which shall be the sole responsibility of the Employer; (d) Performance of any other responsibilities not specifically allocated to them under the Plan.

Appears in 4 contracts

Samples: 401(k) and Profit Sharing Plan Agreement (Earthlink Inc), 401(k) and Profit Sharing Plan Agreement (Conley Canitano & Associates Inc), 401(k) and Profit Sharing Plan Agreement (American Science & Engineering Inc)

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