Common use of Management Committee and Administrator as Named Fiduciaries for the Plan Clause in Contracts

Management Committee and Administrator as Named Fiduciaries for the Plan. (a) The Management Committee, acting on behalf of the Plan or Trust and subject to subsection (b) hereof, shall be a Named Fiduciary with respect to the authority to manage and control the administration and operation of the Plan, including without limitation, the management and control with respect to the operation and administration of the Plan contained in an agreement with a Named Fiduciary but only to the extent it has been specifically designated in such agreement as being the responsibility of the Administrator, an Employer, the Company, or any employee, member or delegate of any of them. (b) Notwithstanding any other term or provision of the Plan, Trust, or an agreement with a Named Fiduciary, the Management Committee shall cease to be a Named Fiduciary with respect to some specified portion of the operation and administration of the Plan or Trust, to the extent that a Named Fiduciary is designated pursuant to the procedure in the Plan or Trust to severally have authority to manage and control such portion of the operation and administration of the Plan or Trust. (c) To the extent that administrative functions with respect to the Plan are delegated to the Administrator pursuant to Section 15.10 of the Plan (and pursuant to Sections 15.20 and 15.21, if a separate Plan Administrator apart from the Administrator is not delegated the responsibilities under Section 15.21), the Administrator shall be the Named Fiduciary with respect to those responsibilities under the Plan, and the Management Committee shall cease to be a Named Fiduciary with respect to the responsibilities so delegated.