Common use of Allocation and Delegation of Responsibility Clause in Contracts

Allocation and Delegation of Responsibility. The Trustees are the Named Fiduciaries of each Benefit Plan. The Trustees may, by resolution or bylaw or pursuant to this Trust Agreement allocate fiduciary responsibilities and administrative duties to committees or subcommittees of the Board of Trustees and they may delegate such responsibilities and duties to other individuals or entities as they deem appropriate or necessary in their sole discretion and consistent with ERISA, provided that the Trustees' power to allocate fiduciary responsibility for the management of assets of the Trust is limited to the power to appoint an Investment Manager or Corporate Trustee. Committees and subcommittees of the Board of Trustees shall have an equal number of Employer Trustees and Union Trustees or, subject to the unit vote rule, may have an unequal number of Employer Trustees and Union Trustees.

Allocation and Delegation of Responsibility. The Trustees are the Named Fiduciaries of each Benefit Planthe Fund. The Trustees may, by resolution or bylaw or pursuant to this Trust Agreement allocate fiduciary responsibilities and administrative duties to committees or subcommittees of the Board of Trustees and they may delegate such responsibilities and duties to other individuals or entities as they deem appropriate or necessary in their sole discretion and consistent with ERISA, provided that the Trustees' power to allocate fiduciary responsibility for the management of assets of the Trust is limited to the power to appoint an Investment Manager or Corporate Trustee. Committees and subcommittees of the Board of Trustees shall have an equal number of Employer Trustees and Union Trustees or, subject to the unit vote rule, may have an unequal number of Employer Trustees and Union Trustees.