Common use of Sponsor Clause in Contracts

Sponsor. The Employee delegates to the Sponsor the following powers with respect to the Plan: (a) to remove the Custodian and select a successor Custodian; and (b) to amend this Plan (including retroactive amendment). The powers herein delegated to the Sponsor shall be exercised by such officer thereof as the Sponsor may designate from time to time, and shall be exercised only when similarly exercised with respect to all other Employees adopting the Plan. The Sponsor, The Dreyfus Corporation, and each of the Funds, and each of their respective officers, directors, trustees, general partners, affiliates, agents and employees shall have no responsibility or liability of any kind and shall be fully protected by the Employee with regard to the administration of the Plan except as provided in this Section VI of the Plan, and none of them shall incur any liability of any nature to the Employee or any beneficiary or other person in connection with any act done or omitted to be done in good faith in the exercise of any power or authority herein delegated to the Sponsor. The Employee agrees to indemnify and hold the Sponsor, The Dreyfus Corporation and each of the Funds, and each of their respective officers, directors, trustees, general partners, affiliates, agents and employees harmless from and against any and all claims, liabilities, losses, damages and expenses, including attorneys' and accountants' fees, incurred in connection with the exercise of, or omission to exercise, any of the powers delegated to the Sponsor under this Section VI, except such liabilities and expenses as may arise from the Sponsor's own negligence or willful misconduct.