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## 9. EMPLOYEE FUTURE BENEFITS OBLIGATION 

The Company has an unfunded, non-registered, non-indexed defined retirement benefit plan for an officer. The retirement benefit is two months’ salary for each year the employee is employed by the Company up to age 55. 

Management is required to make an estimate regarding the discount rate used to determine the accrued benefit obligation. This estimate is of a long-term nature, which is consistent with the nature of the employee future benefits. The discount rate used to determine the accrued benefit obligation as at December 31, 2012 was 4.19% (2011 – 4.19%). 

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Defined benefit costs have been presented under research and product development expenses in the consolidated statements of net (loss) income for the year. 

