Common use of R.S.P Clause in Contracts

R.S.P. The Company agrees to provide a group RRSP voluntary retirement savings plan. If an employee contributes 3% of his/her income the Company will contribute 50% of the employee’s contribution. If an employee contributes an additional 1 or 2 percent (4% or 5% in total) of his/her income, the Company will contribute 50% of the employees additional contributions. There is no vesting period for funds contributed by MetoKote Canada Limited. An employee may withdraw funds from his/her Group RRSP prior to their retirement, however, they will not be eligible to withdraw any funds contributed by MetoKote Canada Limited unless for the purpose of the First Time Homeownership Plan or if the employee’s employment is terminated.

R.S.P. The Company agrees to provide a group RRSP voluntary retirement savings plan. If an employee contributes 3% of his/her income the Company will contribute 50% of the employee’s contribution. If an employee contributes an additional 1 or 2 percent (4% or 5% in total) of his/her income, the Company will contribute 5035% of the employees additional contributions. There is no vesting period for funds contributed by MetoKote Canada Limited. An If an employee may withdraw withdraws funds from his/her Group RRSP prior to their retirement, however, they will not be eligible to withdraw any funds contributed by MetoKote Canada Limited unless for the purpose of the First Time Homeownership Plan or if the employee’s employment is terminated.