WHEREAS, the Trustees of the Iron Workers' Local No. 55 Pension Plan desire to amend the Plan for purposes of complying with the Employee Retirement Income Security Act of 1974 as amended; and

WHEREAS, the Plan and Trust authorized the Trustees to amend the Plan from time to time.

NOW THEREFORE, the Amendment and Restatement is hereby amended as follows:

Effective October 1, 2001, the following paragraph shall be added as the last paragraph in Article VII, Section 12.2:

Severance benefits shall be terminated for all benefits accrued after October 1, 2001. If a Participant is eligible to repay a severance benefit subsequent to October 1, 2001, pursuant to either Federal law or Plan provisions, he will still have a protected right to take a distribution of the repaid benefit in the form of a single sum (severance) distribution.

IN WITNESS WHEREOF, the Board of Trustees has approved and adopted this First Amendment to the Amendment, Restatement and Continuation of the Iron Workers' Local No. 55 Pension Plan on this 29th day of August, 2001, to become effective as of the day and year first written above.

UNION TRUSTEES ___________________________ ___________________________ ___________________________ ___________________________

EMPLOYER TRUSTEES ___________________________ ___________________________ ___________________________ ___________________________

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