Common use of Limitations on Responsibilities and Duties Clause in Contracts

Limitations on Responsibilities and Duties. (a) The Custodian shall not be responsible in any way for the timing, amount or collection of contributions provided for under this Agreement, the selection of the investments for the Account, the timing, amount or purpose or propriety of any distribution made pursuant to Article 5 hereof, or the tax consequences of any such transaction to the Employee or Beneficiary, or any other action taken at the direction of the Employee (or Beneficiary or Employer, where applicable). The Custodian shall not be obliged to take any action whatsoever with respect to the Account except upon receipt of directions in a form acceptable to the Custodian from the Employee (or Beneficiary or Employer, where applicable). The Custodian shall be under no obligation to determine the accuracy or propriety of any such directions and shall be fully protected in acting in accordance therewith. The Custodian will be fully protected in acting in reliance upon any document, order or other direction believed by it to be genuine and properly given. The Custodian will have no responsibility if the Custodian does not act in the absence of proper instructions, or if the Custodian believes any document, order or other direction is not genuine or properly given, or on the basis of any incomplete or ambiguous document, order or other direction until such incompleteness or ambiguity is resolved to the Custodian's satisfaction. (b) The Custodian is an agent appointed by the Company to perform solely the duties assigned to it under the Agreement, it being acknowledged that certain of such duties may be performed by the Custodian in any event pursuant to one or more other contractual arrangements or relationships. The Custodian shall not be deemed to be a fiduciary under ERISA in carrying out its duties. (c) The Employer shall be solely responsible for assuring compliance at all times with the nondiscrimination requirements of Code section 403(b)(12) (whether or not the Account holds any Direct Contributions) and the Custodian shall not be responsible in any way for such compliance. If the Account holds any Direct Contributions, the Employer shall be solely responsible for compliance with all applicable requirements of the Code (including the non-discrimination requirements of Code Section 403(b)(12) applicable to such Direct Contributions) and ERISA. (d) The Custodian will have no liability to the Account Holder for transferring any amount to a state authority in accordance with any law relating to escheat or abandoned or unclaimed property. (e) It is hereby agreed that, subject to the provisions of applicable law, no person other than the Account Holder may institute or maintain any action or proceeding against the Custodian.

Limitations on Responsibilities and Duties. (a) The Custodian shall not be responsible in any way for the timing, amount or collection of contributions provided for under this Agreement, the selection of the investments for the Account, the timing, amount or purpose or propriety of any distribution made pursuant to Article 5 hereof, or the tax consequences of any such transaction to the Employee or Beneficiary, or any other action taken at the direction of the Employee (or Beneficiary or Employer, where applicable). The Custodian shall not be obliged to take any action whatsoever with respect to the Account except upon receipt of directions in a form acceptable to the Custodian from the Employee (or Beneficiary or Employer, where applicable). The Custodian shall be under no obligation to determine the accuracy or propriety of any such directions and shall be fully protected in acting in accordance therewith. The Custodian will be fully protected in acting in reliance upon any document, order or other direction believed by it to be genuine and properly given. The Custodian will have no responsibility if the Custodian does not act in the absence of proper instructions, or if the Custodian believes any document, order or other direction is not genuine or properly given, or on the basis of any incomplete or ambiguous document, order or other direction until such incompleteness or ambiguity is resolved to the Custodian's satisfaction. (b) The Custodian is an agent appointed by the Company to perform solely the duties assigned to it under the Agreement, it being acknowledged that certain of such duties may be performed by the Custodian in any event pursuant to one or more other contractual arrangements or relationships. The Custodian shall not be deemed to be a fiduciary under ERISA in carrying out its duties. (c) The Employer shall be solely responsible for assuring compliance at all times with the nondiscrimination requirements of Code section 403(b)(12) (whether or not the Account holds any Direct Contributions) and the Custodian shall not be responsible in any way for such compliance. If the Account holds any Direct Contributions, the Employer shall be solely responsible for compliance with all applicable requirements of the Code (including the non-non- discrimination requirements of Code Section 403(b)(12) applicable to such Direct Contributions) and ERISA. (d) The Custodian will have no liability to the Account Holder for transferring any amount to a state authority in accordance with any law relating to escheat or abandoned or unclaimed property. (e) It is hereby agreed that, subject to the provisions of applicable law, no person other than the Account Holder may institute or maintain any action or proceeding against the Custodian.