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permitted by law, it is the intent of this Article to relieve each fiduciary from all liability for any acts or <br />omissions of any other fiduciary or any other person and to declare the absence of liabilities of all <br />persons referred to in this Article to the extent not imposed by law or by provisions of this Trust <br />Agreement. Each of the following Sections, in declaring such limitations, is set forth without limiting <br />the generality of this Section but in each case shall be subject to the provisions, limitations and policies <br />set forth in this Section. <br />8.2 General Limitations of Liability. <br />(a) No fiduciary shall be liable with respect to a breach of fiduciary duty under any <br />applicable Statutes if such breach was committed before he or she became a fiduciary or after he or she <br />ceased to be a fiduciary. <br />(b) No fiduciary shall be liable for any act or omission of any other person to whom <br />fiduciary responsibilities (other than Trustee responsibilities) are allocated by the Plan, the Trust <br />Agreement or by a fiduciary. <br />8.3 Liability of the Trustee. <br />(a) The Trustee shall have no powers, duties or responsibilities with regard to the <br />administration of the Plan or to determine the rights or benefits of any person having or claiming an <br />interest under the Plan or in the Trust or under this Trust Agreement or to examine or control any <br />disposition of the Trust or part thereof which is directed by the Plan Administrator. <br />(b) The Trustee shall have no liability for the adequacy of contributions for the purposes of <br />the Plan or for enforcement of the payment thereof. <br />(c) The Trustee shall have no liability for the acts or omissions of the Agency or the Plan <br />Administrator. <br />(d) The Trustee shall have no liability for following proper directions of a fiduciary, the <br />Agency, the Plan Administrator or a Participant when such directions are made in accordance with this <br />Trust Agreement. <br />(e) During such period or periods of time, if any person other than the Trustee, including <br />but not limited to a Participant, is directing the investment and management of Trust Assets, the Trustee <br />shall have no obligation to determine the existence of any conversion, redemption, exchange, <br />subscription or other right relating to any securities purchased on the directions of such person if notice <br />of any such right was given prior to the purchase of such securities. If such notice is given after the <br />purchase of such securities, the Trustee shall notify the Plan Administrator, which shall transmit the <br />notice to the directing party. The Trustee shall have no obligation to exercise any such right unless it is <br />informed of the existence of the right and is instructed to exercise such right, in writing, by a fiduciary or <br />a Participant through the Plan Administrator within a reasonable time prior to the expiration of such <br />right. <br />(f) During such period or periods of time, if the Trustee is directed to purchase securities <br />issued by any foreign government or agency thereof, or by any corporation domiciled outside of the <br />United States, it shall be the responsibility of the directing party to advise the Trustee in writing with <br />15 <br />55A-33