WHEREAS, the Town of Little Compton (hereinafter referred to as the "Employer") adopted the Town of Little Compton Pension Plan (hereinafter referred to as the "Plan") for the benefit of its Employees, effective as of January 1, 1972; and
WHEREAS, Article Ten of said Plan provides that the Employer may amend the Plan; and
WHEREAS, the Employer wishes to amend the Plan; and
WHEREAS, it is intended that the Plan is to be a qualified plan under Section 401(a) of the Internal Revenue Code and is to be operated for the exclusive benefit of the Participants and their Beneficiaries;
NOW, THEREFORE, the Plan is hereby amended by restating the Plan in its entirety as follows: