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The petitioners, James A. Davala, et al., brought this petition in equity against the respondents, the Town of Merrimack and its Board of Selectmen, seeking damages and other relief arising from the respondents' termination of certain retirement benefit plans. The respondents seek summary judgment. For the following reasons, the motion is GRANTED in part and DENIED in part.

Dartmouth College was founded in 1769. Under the Dartmouth College Charter, the College is governed by a Board of Trustees (“Board”). Between 1769 and 1891, the Trustees of Dartmouth College designated their own successors, who exercised authority and responsibility over the College governance without participation from College alumni. Starting in the 1860s, the Association and its members began pressing the College for alumni participation on the Board. (Petition ¶8). The dialogue between the Association and the College continued throughout the 1860s, 1870s and 1880s. (Pet. ¶¶ 9, 10, and 11). In June of 1891, the College and the Association reached an agreement that became known as the “1891 Agreement” (hereinafter referred to as the “Agreement”).