Common use of EMPLOYER DIRECTION OF INVESTMENT Clause in Contracts

EMPLOYER DIRECTION OF INVESTMENT. The Employer and Advisory Committee has the right to direct the Trustee with respect to the investment and re-investment of assets comprising the Trust Fund. Any such direction must be in writing. To the extent the Employer directs the Trustee, the Employer indemnifies and saves harmless the Trustee from and against any and all loss resulting from liability to which the Trustee may be subjected by reason of any act or conduct (except the Trustee's misconduct or negligence) in its official capacity in the administration and investment of the Trust Fund, including all expenses reasonably incurred in its defense, in case the Employer fails to provide such defense. Notwithstanding the foregoing, the indemnification provisions of this Section 7.04 do not indemnify or relieve the Trustee from any liability it may have under ERISA for breach of a fiduciary duty.