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A summary of the status of the Company’s stock-based compensation plans as of December 31, 2013 and 2012, and changes during the years ended on those dates is presented below: 

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The following table summarizes outstanding stock options at December 31: 

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The Company recorded $293,000 in compensation expense for the year ended December 31, 2013 (2012 - $302,000) as well as corresponding changes to contributed surplus related to stock options. Compensation expense was determined using the Binomial Model based on the following assumptions: 

<img src='content_image/143542.jpg'>

