12.01 Contributions
The plan will be funded by two percent (2%) contributions by the employee and eight percent (8%) by the Employer.

Employees who have attained ten (10) years seniority with the Employer shall have the option of contributing an additional one percent (1%) of gross wages to the Plan with said contribution matched by the Employer up to one percent (1%) maximum.

The maximum annual contribution that the Employer shall be required to make on behalf of any one employee is five thousand five hundred dollars ($5,500.00).

All employees shall automatically become members of this Plan the first (1st)of the month following the month in which they attained benefit service. It is understood that those employees already participating in the plans shall continue to do so.

12.02 Vesting
If a member terminates employment or dies before retirement, he or his estate shall receive a cash refund of his contributions. He shall receive his contributions and the Company contributions made on his behalf with accumulated interest in the form of a lump sum payment or deferred pension, at the option of the employee or his estate. In the event Legislation is passed that requires earlier vesting than presently provided, the Plan shall be amended to provide compliance.

12.03 Investment of Funds
All funds shall be deposited into a trust fund at competitive interest rate, which will then be folded into the Pension Plan. Voluntary contributions may be placed into a group RRSP in the employee's name. Employee’s pension funds will be deposited through electronic transfer of funds.

12.04 Administrative Assessment
The Employer agrees to pay an additional one-half of one percent (0.5%) on behalf of each contributing member of the Pension Plan. This payment will be considered as an administrative assessment.