Document:

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                                                              Exhibit 10(xviii)

                                 CO-STEEL GROUP

                         SUPPLEMENTARY RETIREMENT PLAN

                                      FOR

                          SENIOR MANAGEMENT EMPLOYEES

                             Effective July 1, 1997

                                  January 1998

<PAGE>

                               TABLE OF CONTENTS

<Table>
<S>               <C>                                                        <C>
SECTION 1  -      Establishment of the Plan .................................  1

SECTION 2  -      Definitions ...............................................  2

SECTION 3  -      Retirement Fund ...........................................  6

SECTION 4  -      Administration of the Plan ................................ 10

SECTION 5  -      Eligibility ............................................... 11

SECTION 6  -      Contributions ............................................. 12

SECTION 7  -      Retirement Dates .......................................... 13

SECTION 8  -      Retirement Benefits ....................................... 14

SECTION 9  -      Disability Retirement Benefits ............................ 17

SECTION 10 -      Terms of Payment .......................................... 18

SECTION 11 -      Death Benefits ............................................ 19

SECTION 12 -      Ceasing to Hold a Designated Position ..................... 20

SECTION 13 -      Designation of Beneficiary ................................ 21

SECTION 14 -      Transfers ................................................. 22

SECTION 15 -      General Provisions .........................................23

SECTION 16 -      Future of the Plan .........................................25
</Table>
<PAGE>

SECTION 1 - ESTABLISHMENT OF THE PLAN

1.01 The Plan is an unregistered plan that is being established effective
     July 1, 1997, for eligible employees of the Company. The purpose of the
     Plan is to ensure that eligible employees receive retirement benefits as
     defined in the Plan, without limitation due to maximums imposed on
     registered pension plans by applicable regulatory authorities.

1.02 The Company has made arrangements for a letter of credit to be issued by a
     bank. The amount of the letter of credit is set annually as the amount of
     the unfunded liability under the Plan; this amount will be paid into the
     Plan if a triggering event occurs.

                                     Page 1

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SECTION 2                         DEFINITIONS

For the purposes of this Plan, including this Section, as the context may
require, the expressions set out below shall have the following meanings
regardless of any definitions at variance therewith in any other document:

2.01 "Account" means an account established under the Fund in accordance with
     the Funding Agreement to hold funds contributed to the Plan by the Company,
     or to hold the Letter of Credit required in accordance with the Funding
     Agreement.

2.02 "Actuarial Equivalent Value" means a value equal to the value of
     retirement benefits, when computed as described below and in the same
     currency in which benefits are payable to the Participant on whose behalf a
     computation is required. The calculation shall be made as of the date at
     which a determination is required, using the actuarial tables and such
     other methods as may be adopted by the Company on the advice of the
     Actuary.

2.03 "ACTUARY" means a person, firm, or corporation designated by the Company to
     be the Actuary of the Plan, who shall be, or, in the case of a firm or
     corporation, a member of the staff of which shall be, duly qualified and
     acceptable to the Company.

2.04 "COMPANY" means Co-Steel and/or, as the case may be, any past, present or
     future associate, subsidiary or affiliate thereof which may with the
     consent of Co-Steel, be included in the Plan.

2.05 "Co-Steel" means Co-Steel Inc. and any successor company.

2.06 "Continuous Service" means the last period of uninterrupted active service,
     including:
     (1) service before the Effective Date;  and
     (2) approved leave of absence, including sick leave;
     rendered on a regular, full-time basis by a Designated Employee to the
     Company, from the date the Designated Employee became a member of the
     Retirement Plan to the date of his termination of service, death, or
     retirement, whichever first occurs.

2.07 "Credited Service" of a Designated Employee means, subject to Section
     12.01, his number of completed years and months of Continuous Service.

                                     Page 2
<PAGE>
2.08 "Designated Employee" means a regular full-time salaried employee of the
     Company who has been designated as eligible to participate in the Plan
     pursuant to Section 5.03.

2.09 "Designated Position" means a position designated from time to time by
     Co-Steel.

2.10 "Earnings" for a given 12-month period means the basic salary paid to a
     Participant during the period as determined by Co-Steel for purposes of the
     Plan, excluding overtime pay, bonuses, profit-sharing or other extra
     compensation. "Average Earnings" means the average annual Earnings of the
     Participant during the 72 consecutive months of Credited Service preceding
     the Participant's retirement, death or termination of employment in which
     the highest average is attained.

     If a Participant has not completed 72 months of Credited Service, his
     Average Earnings shall be based on his average annual Earnings during his
     period of Credited Service.

     Salary earned from any company that is part of the Co-Steel group of
     companies will be taken into account for this purpose, and any salary
     earned in a currency other than Canadian dollars will be converted to
     Canadian dollars at the exchange rate in effect as of the last day of the
     calendar year in which the compensation was earned.

2.11 "Effective Date" means July 1, 1997.

2.12 "Equivalent Arrangement" means, in relation to any existing Accounts, a
     separate Account:

     (1) that holds a Letter of Credit with an issue date that is not later than
         the expiry date of the Letter of Credit held under any of the existing
         Accounts;

     (2) that holds sufficient assets for the Actuary to certify to the Company
         and the Funding Agency that the value of the assets in the Fund
         (excluding assets attributable to contributions made by the Company
         within the 12 months prior to the effective date of any Letter of
         Credit), equals or exceeds the wind-up liabilities of this Plan, both
         projected one year after the expiry of the current Letter of Credit,
         and determined using the assumptions set out in Section 3; or

                                     Page 3
<PAGE>
     (3) that provides, in the opinion of legal counsel in consultation with the
         Actuary, equivalent or superior security for the benefits under the
         Plan.

2.13 "Fund" means the Fund established as of the Effective Date under the
     Funding Agreement and maintained in accordance with Section 3.01.

2.14 "Funding Agency" means the trustee(s) and/or insurance company(ies) named
     in the Funding Agreement(s) and any successor trustee(s) or insurance
     company(ies) designated by Co-Steel.

2.15 "Funding Agreement" means the agreement(s) governing the Fund as may be
     entered into between Co-Steel and the Funding Agency from time to time, a
     copy of which shall be attached hereto as Schedule A.

2.16 "Letter of Credit" means a letter of credit that satisfies the criteria
     identified in Section 3.02(2), or any renewal thereof.

2.17 "Participant" means an individual who is or has been a Designated Employee
     and who is entitled to benefits and rights under the Plan.

2.18 "Personal Retirement Agreement" means the agreement between each
     Participant and Co-Steel which supplements and modifies this Agreement in
     respect of the particular Participant.

2.19 "Plan" means this Co-Steel Group Supplementary Retirement Plan for Senior
     Management Employees, as it is hereby constituted effective July 1, 1997,
     and including any amendments thereto which may from time to time be made by
     Co-Steel.

2.20 "Plan Year" means the period commencing on January 1st of any year and
     ending on the following December 31st.

2.21 "Retirement Plan" means any formal retirement savings arrangement sponsored
     by the Company for its employees and in which Designated Employees of the
     Company participate.

2.22 "Spouse" means the Participant's legally married spouse to whom he has been
     married for at least two consecutive years immediately preceding the date
     that a determination is required provided that if a Retirement Plan of
     which the Participant is a member at the date a determination is required
     contains a different definition of spouse than that specified hereunder,
     such Retirement Plan's definition shall prevail.

                                     Page 4
<PAGE>

2.23     "Tax Act" means the Income Tax Act (Canada) as amended and the
         regulations issued under the Income Tax Act (Canada) from time to time.

2.24     "Total and Permanent Disability"  means any disability due to bodily
         injury or disease which:

         (1)      would prevent a Participant from engaging in the normal duties
                  of the office or employment for which he is qualified; and

         (2)      has continued for a period of not less than six (6)
                  consecutive months since its inception; and

         (3)      has been certified by a physician acceptable to Co-Steel as
                  likely to be permanent and continuous during the remainder of
                  the lifetime of such Participant;

         and provided the disability:

         (4)      was not contracted, suffered or incurred while the Participant
                  was engaged in, or resulted from his having engaged in, a
                  criminal enterprise for which he was convicted; or

         (5)      did not result from injuries wilfully self-inflicted.

2.25     "Unreduced Age" in respect of a Participant, shall refer to the age of
         the Participant at the time that any one of the following three
         conditions has been fulfilled:

         (1)      The Participant has completed at least 30 years of Continuous
                  Service.

         (2)      The Participant's age plus years of Continuous Service equal a
                  total of at least 80.

         (3)      The Participant has attained one of the following combinations
                  of age and years of Continuous Service:

<Table>
<S>                                          <C>
                                                 Years of
                  Participant's Age          Continuous Service
                  -----------------          ------------------
                         62                           2
                         61                          13
                         60                          16
                         59                          19
                         58                          22
                         57                          25
                         56                          28
                         55                          30
</Table>

                                     Page 5
<PAGE>
SECTION 3 - RETIREMENT FUND

3.01 The Company shall maintain a Fund to be held, invested, re-invested and
     administered by the Funding Agency in trust pursuant to the terms of the
     Funding Agreement and this Plan, for the purpose of holding assets to
     secure payment of pension benefits under this Plan as indicated in the
     Funding Agreement. Benefits under the Plan are to be paid first from the
     Fund when required, to the extent that the Fund shall suffice for such
     purpose. Any benefits not paid from the Fund shall be paid by the Company
     as they become due. For greater certainty, the Company shall be responsible
     for payment of all of the commitments made hereunder to Participants under
     the Plan, but shall not be responsible to pre-fund the benefits as they
     accrue.

3.02 (1)  Subject to the exceptions set out in Article 2 of the Funding
          Agreement, the Company shall arrange with a financial institution
          other than the Funding Agency, for the provision of a Letter of Credit
          to be purchased by the monies held in the Fund.

     (2)  For the purposes of Section 3.02(1), a Letter of Credit must be:

          (a)  irrevocable by the issuing financial institution;

          (b)  payable to the Funding Agency as beneficiary, subject to the
               requirement as set out in the Funding Agreement, that the Funding
               Agency shall deposit any money paid under the Letter of Credit
               into the Account upon receipt;

          (c)  incapable of being assigned by the Funding Agency;

          (d)  incapable of being amended prior to its expiry;

          (e)  for a term of at least 364 days, which term shall commence
               immediately upon the expiry of any Letter of Credit already in
               place;

          (f)  provided by the issuing financial institution without a
               requirement that the Company provide collateral, pledged assets
               or similar security;

          (g)  for an amount no less than the amount, as certified by the
               Actuary, by which (i) exceeds (ii), where (i) and (ii) are both
               determined as at the expiry date of the Letter of Credit and are
               defined as follows:

                                     Page 6
<PAGE>
               (i)  The projected wind up liabilities of the Plan determined as
                    of the expiry date of the Letter of Credit, using the
                    assumptions set out in Section 3.06(1).

               (ii) The projected value of the assets of the Fund determined
                    using the assumptions set out in Section 3.06(2);

          (h)  payable on demand by the Funding Agency upon certification to the
               issuer that a condition for exercise of the Letter of Credit set
               out in the Funding Agreement has been met;

          (i)  provided by an issuer whose debt obligations have a rating of A
               (or its equivalent) by any one of Dominion Bond Rating Service
               Limited, Canadian Bond Rating Service Limited, Standard & Poor's
               Corporation or Moody's Investors Service;

          (j)  payable on the fifth business day preceding its expiry date,
               unless prior written notice is provided to the issuer by the
               Funding Agency that the issuer shall not pay on that day because
               the Letter of Credit has been renewed or an Equivalent
               Arrangement has been established, such notice to be no earlier
               than one month preceding the expiry date of the Letter of Credit.

3.03 The Company shall provide to the Funding Agency, on a timely basis, all
     information that is necessary for the Funding Agency to determine whether
     the Letter of Credit required by the Plan satisfies the criteria in Section
     3.02.

3.04 The Funding Agency will present the Letter of Credit for payment of the
     full amount in accordance with the provisions of the Funding Agreement.

3.05 The Company and the Funding Agency are not required to cause a Letter of
     Credit to be issued in favour of the Funding Agency in accordance with
     Section 3.02(1) if the Actuary has certified to the Company and the Funding
     Agency that the value of the assets in the Fund, equals or exceeds the
     wind-up liabilities of this Plan, both projected one year after the expiry
     of the current Letter of Credit, and determined using the assumptions set
     out in Section 3.06.

                                     Page 7
<PAGE>
     The application of this Section 3.05 shall be reviewed annually after any
     time that it becomes operative, so that if the criteria required by this
     Section 3.06 cease to be met, then Section 3.02 again becomes operative. If
     Section 3.02 again becomes operative and the Company fails to comply with
     that Section within 60 days thereafter, then the Plan shall be
     discontinued.

3.06     (1)   The assumptions to be used in determining the projected
               liabilities of the Plan pursuant to Sections 3.02(2)(g)(i) and
               3.05 are:

               (a)  that the Company will pay all benefits as they fall due
                    prior to the expiry date of the Letter of Credit, and will
                    not pay those amounts on or after that date;

               (b)  that the Retirement Plan and the Plan are terminated as at
                    the expiry date of the Letter of Credit;

               (c)  that liabilities will be determined using actuarial
                    assumptions that are generally acceptable for the valuation
                    of benefits under a registered pension plan on wind-up,
                    without regard to tax considerations, and

               (d)  any benefit in respect of which an Equivalent Arrangement is
                    in place will be paid by that Equivalent Arrangement.

          (2)  The assumptions to be used in determining the projected assets of
               the Plan pursuant to Sections 3.02(2)(g)(ii) and 3.05 are:

               (a)  that the value of the assets of the Fund includes the amount
                    of refundable tax held, or projected to be held, by Revenue
                    Canada on account of the Plan (excluding refundable tax
                    related to amounts excluded in (d) below) at the expiry date
                    of the Letter of Credit;

               (b)  that any assets held by the Fund after the application of
                    (d) below are used to provide benefit payments as they fall
                    due;

               (c)  that if the Retirement Plan were wound up on the expiry
                    date, of the Letter of Credit, any surplus assets
                    attributable to Participants would be recognised as an asset
                    for the purposes of this Section 3.06(2); and

               (d)  that assets attributable to contributions made by the
                    Company within the 12 months prior to the effective date of
                    the Letter of Credit are excluded.

                                     Page 8
<PAGE>

3.07 Subject to the provisions of the Funding Agreement, Co-Steel may remove
     the Funding Agency at any time and, upon such removal, or upon resignation
     of the Funding Agency, Co-Steel may appoint a successor Funding Agency.

3.08 No Participant, annuitant, joint annuitant, beneficiary or estate, nor any
     other person shall have any interest in or right to any part of the
     earnings of the Fund, or any rights in or to or under such Fund or any
     part of the assets thereof, except as expressly provided for in the Plan,
     and then such interest or rights shall be only to the extent of such
     provision.

                                     Page 9

<PAGE>

SECTION 4 - ADMINISTRATION OF THE PLAN

4.01 The administration of the Plan shall be the responsibility of Co-Steel,
     and whenever a question which cannot be settled by reference to the Plan
     arises in the course of such administration, Co-Steel may settle such
     question at its discretion in a manner not inconsistent with the
     provisions of the Plan.

4.02 Co-Steel may appoint any person or corporation to administer the Plan and
     may delegate for such purpose from time to time such authority as it may
     deem necessary and advisable.

                                    Page 10

<PAGE>

SECTION 5 - ELIGIBILITY

5.01 Each Designated Employee in the employ of the Company on the Effective
     Date, subject to Section 5.03, became a Participant as of that date. Such
     Designated Employees are set out in Schedule B to this Plan.

5.02 Each Designated Employee other than a Designated Employee referred to in
     Section 5.01 shall, subject to Section 5.03, become a Participant as of
     the date he becomes a Designated Employee.

5.03 Notwithstanding the provisions of Section 5.01 and 5.02, no person shall
     become a Participant unless and until such status is evidenced and
     confirmed by appropriate documentation of the retirement committee of
     Co-Steel or the equivalent body of any associated, subsidiary or
     affiliated company employing such person, a certified copy of which shall
     be delivered to such person.

                                    Page 11

<PAGE>

SECTION 6 - CONTRIBUTIONS

6.01 Participants are neither required nor permitted to contribute to the Plan.

6.02 The Company shall contribute from time to time to the Fund the amounts
     required to ensure that the Funding Agency has available to it the
     resources that are necessary to pay the amount of any fees, commissions or
     premiums and any deposits against fees, commissions or premiums charged by
     a financial institution for issuing any Letter of Credit and to pay any
     other charges that the Funding Agency is required to pay out of the Fund.
     The Company shall not be required to contribute to the Fund amounts in
     respect of benefits due under the Plan to its Designated Employees.

6.03 In addition to the contributions required under Section 6.02, but subject
     to Section 3.01, the Company may contribute to the Fund amounts not in
     excess of the amount, determined by the Actuary, that is required to fully
     fund future pension benefits.

6.04 The Company shall remit annually to the Receiver General under the Tax Act
     the amount of tax required to be withheld on the purchase of the Letter of
     Credit, within the period of time permitted by the Tax Act, and shall
     inform the Funding Agency in writing that the tax has been withheld from
     the contributions and remitted to the Receiver General within the
     prescribed time.

                                    Page 12

<PAGE>

SECTION 7 - RETIREMENT DATES

7.01 Subject to Section 7.03, the normal retirement date for a Participant will
     be the first day of the month coincident with or next following the
     attainment of age 65 (the "normal retirement date").

7.02 Subject to Section 8.03, a Participant may retire and commence to receive
     a pension benefit under this Plan on the first day of any month prior to
     his attainment of his normal retirement date, provided he has attained the
     earlier of his Unreduced Age and age 55 (his "early retirement date").

7.03 A Participant who has been permitted by Co-Steel or another employer
     participating under the Plan to remain in its service beyond his
     attainment of age 65, will have his retirement benefits determined based
     on his Credited Service to his normal retirement date and on Earnings to
     his postponed retirement date.

                                    Page 13

<PAGE>
SECTION 8 -- RETIREMENT BENEFITS

8.01 (1)  The benefits described in this Section 8 are not subject to
          limitations due to the maximum pension rules established by applicable
          regulatory authorities. The benefits payable from the Plan are the
          benefits calculated in accordance with the applicable provisions of
          this Section 8, reduced by:

          (a)  the amount of any benefits payable in accordance with a
               Retirement Plan of the Company, including bridging supplements
               and any lump sum payable from a defined benefit or defined
               contribution plan, in respect of any part of the same period of
               Credited Service; the adjustment shall be determined as if the
               Participant elected to receive an Actuarial Equivalent pension
               payable in the same form as is payable under the Plan;

          (b)  the proportionate amount of any government sponsored retirement
               benefits to which the Company has contributed, attributable to
               the same period of Credited Service. For the purpose of this
               provision, the applicable amount of any government benefit shall
               be based on the benefit rate in effect as of the date at which a
               calculation is required hereunder; and

          (c)  the amount of any indebtedness of the Participant to the Company.

     (2)  A pension being paid to an individual under this Plan shall further be
          reduced if any amount of surplus is distributed from the Retirement
          Plan to the individual. The reduction shall be equal to the pension
          that has the Actuarial Equivalent Value of the amount of surplus
          distributed.

8.02 Subject to Section 8.01, each Participant who retires on his normal or
     postponed retirement date will be entitled to receive an annual pension
     benefit, payable monthly, equal to 1.5% of his Average Earnings multiplied
     by his years of Credited Service, not to exceed a total of 60% of his
     Average Earnings.

8.3  Each Participant who retires on his early retirement date in accordance
     with Section 7.02 will be entitled to receive an annual pension benefit in
     an amount determined as follows:

                                    Page 14

<PAGE>
     (a) for Participants who retire on or after their Unreduced Age, a benefit
         in accordance with Section 8.02.

     (b) for Participants who retire on or after age 55, but prior to their
         Unreduced Age, a benefit calculated in accordance with Section 8.02,
         but reduced by 0.5% for each complete month that the pension
         commencement date precedes the Unreduced Age.

8.04 The first payment of the retirement benefit payable to a Participant under
     this Section shall be due and payable on the first day of the month
     coincident with or next following his actual retirement date, with
     subsequent amounts being due on the first day of each succeeding month for
     the balance of the applicable payment period.

8.05 Co-Steel reserves the right, in circumstances where retirement is by mutual
     agreement between the Participant and the Company, to provide one or more
     of the following benefit improvements:

     (1) waive the reduction applicable under Section 8.03, when the Participant
         retires subsequent to age 55 but prior to his Unreduced Age;

     (2) increase the Participant's pension benefit to reflect all or part of
         the additional Credited Service the Participant would have completed
         if his Continuous Service had continued uninterrupted until his normal
         retirement date; and

     (3) increase the Participant's pension benefit to reflect all or part of
         the salary increases that would be expected for the Participant over
         the period to his normal retirement date if the Participant was not
         retiring.

8.06 (1) Subject to the reductions specified in Section 8.01(1) for the amount
         of any benefits payable in accordance with a Retirement Plan of the
         Company or any government sponsored retirement benefits, in respect of
         any part of the same period of Credited Service, annual cost of living
         increase payments pursuant to this Section 8.06 are provided to:

         (a) a Participant who is receiving monthly pension payments (either
             due to retirement or disability) from the Plan; and

         (b) the surviving Spouse or surviving joint annuitant of the
             Participant who dies in service or was receiving monthly

                                    Page 15
<PAGE>
               pension payments from the Plan (either due to retirement or
               disability),

          provided that the Participant or the surviving Spouse or surviving
          joint annuitant was receiving his or her pension on November 1 of the
          year preceding the year during which the increase is paid.

     (2)  The increase for the cost of living adjustment pursuant to this
          Section 8.06 is determined as at January 1 each year. The pension
          payment will be increased to reflect 80% of the percentage change in
          the Consumer Price Index for the 12 months ending October in the prior
          calendar year, up to a maximum increase in pension of 4% per annum.

          For the purposes of this Section 8.06, "Consumer Price Index" means
          the Consumer Price Index for Canada for All Items (Not Seasonally
          Adjusted) provided by Statistics Canada, or such other official
          measure of price movement as may be substituted therefor.

     (3)  The percentage increase described in Section 8.06(2):

          (a)  applies to the amount of the pension (calculated pursuant to the
               other provisions of this Section 8, or Section 9 prior to the
               application of any offset under Section 8.01(1)) being paid to
               the Participant or the surviving Spouse or the surviving joint
               annuitant at the date the cost of living adjustment is granted,
               being January 1; and

          (b)  is payable in the same form and with the same guarantees as the
               pension to which the increase is applied;

          and such additional pension payments shall be cumulative.

8.07 Notwithstanding any of the provisions of this Plan, if the Plan is
     terminated the Company may, at its discretion, calculate the Actuarial
     Equivalent Value of any Participant's or other person's entitlement under
     this Plan, and pay to the person such lump sum in full satisfaction of the
     benefits accrued and remaining unpaid to such person under the Plan.

                                    Page 16
<PAGE>

SECTION 9 - DISABILITY RETIREMENT BENEFITS

9.01  A Participant who suffers a Total and Permanent Disability prior to his
      normal retirement date will continue to accrue benefits under this Plan
      until he or she retires, reaches normal retirement age or ceases to be
      disabled, whichever first occurs. Such Participant's Earnings for the
      purposes of this Plan, during the period that he or she remains disabled,
      shall be deemed to be their Earnings in effect at the date of the
      commencement of their disability. The Participant's Continuous Service
      will be deemed to have continued uninterrupted during their period of
      disability.

      If a Participant retires and commences to receive a benefit under this
      Plan while still suffering from a Total and Permanent Disability, the
      Participant shall be entitled to receive an annual pension benefit
      calculated in accordance with the appropriate provisions of Section 8,
      but further reduced by

      (1)  the amount of any government-sponsored disability benefits to which
           the Company has contributed; and

      (2)  the amount of any benefits payable under a disability plan sponsored
           by the Company.

                                    Page 17

<PAGE>

SECTION 10 - TERMS OF PAYMENT

10.01 Terms of Payment of Benefit

      Subject to subsection 8.07, the retirement benefit provided under this
      Plan shall be payable:

      (1)  if the Participant has no Spouse, for the life of the Participant,
           with a minimum payment period of 60 months; and

      (2)  If the Participant has a Spouse, as a joint and survivor pension
           payable in equal monthly installments for the life of the
           Participant, and after his death to the Participant's Spouse for her
           lifetime. The monthly pension payable to the Spouse shall be 60% of
           the amount of each monthly installment paid to the Participant
           during his lifetime. The joint and survivor pension shall have
           Actuarial Equivalent Value to the pension payable in the form
           described in subsection (1) above.

                                    Page 18

<PAGE>

SECTION 11 - DEATH BENEFITS

11.01 Death Prior to Retirement

      Subject to subsection 8.07, if a Participant dies while in the service of
      the Company prior to his retirement date and is survived by a Spouse, his
      Spouse will receive an annual pension benefit payable for the remainder
      of her lifetime, in an amount equal to 60% of the pension the Participant
      had earned up to his date of his death, pursuant to Section 8.02. No
      survivor benefits will be payable upon the death of an active Participant
      who does not have a Spouse at the date of his death.

11.02 Death After Retirement

      In the event of death of a Participant after the commencement of his
      monthly pension payments, the provisions of Section 10.01 will apply.

                                    Page 19

<PAGE>
SECTION 12 - CEASING TO HOLD A DESIGNATED POSITION

12.01  If  Participant ceases to occupy a Designated Position, but remains in
       the employ of the Company, he shall be entitled to a benefit commencing
       at his retirement date in accordance with Section 8. However, unless
       otherwise determined by Co-Steel, for purposes of calculating the
       entitlement of such a Participant under that Section,

       (1)  his period of Credited Service shall exclude completed months
            following the date on which he ceased to occupy a Designated
            Position; and

       (2)  his Earnings shall be based on the completed months during which he
            occupied a Designated Position.

12.02  If the service of a Participant is terminated either,

       (1)  by voluntary action of the Participant; or

       (2) for just cause,

       prior to his becoming eligible to receive retirement benefits under any
       Retirement Plan or government-sponsored arrangement, there shall be no
       benefit payable from this Plan.

12.03  If the service of a Participant is terminated prior to his normal
       retirement date, otherwise than as provided in 12.02, such Participant
       shall be entitled to a benefit determined as follows:

       (1)  if, at his termination date, the Participant would be eligible for
            early retirement pursuant to Section 7.02, he will be deemed to have
            retired early on his termination date and will be entitled to an
            annual pension benefit determined in accordance with Section 8.03.
            Such benefit shall be payable on the first day of the month
            coincident with or next following his deemed retirement date, and
            monthly thereafter for the balance of the applicable payment period.

       (2)  if, at his termination date, the Participant would not be eligible
            for early retirement pursuant to Section 7.02, he will be entitled
            to a deferred pension benefit commencing at normal retirement date
            determined in the same manner as provided in Section 8.02.

                                    Page 20
<PAGE>

SECTION 13 - DESIGNATION OF BENEFICIARY

13.01 The designation, or alteration of a previous designation, of a beneficiary
      to receive any benefits payable under the Plan in the event of the
      Participant's death, will be made in accordance with the terms of the
      Retirement Plan.

13.02 If, for any reason, the Participant dies with no designated beneficiary
      or the beneficiary designated to receive benefits dies before all
      guaranteed payments, if any, have been made, any remaining benefits
      payable under the Plan shall be paid in accordance with the terms of the
      Retirement Plan.

13.03 The Company may require the execution and delivery of such documents and
      receipts as it may deem necessary or desirable in order to be assured
      that the payment of death benefits is properly made to the party entitled
      thereto.

                                    Page 21

<PAGE>

SECTION 14 - TRANSFERS

14.01 In the event a Participant is transferred and becomes an employee of a
      subsidiary, affiliated or associated company to which the provisions of
      this Plan do not apply, his normal pension benefit will be based on his
      Earnings and his Credited Service up to the date of his transfer, and
      will be held to his credit until his retirement from or termination of
      employment with the subsidiary, affiliated or associated company.

14.02 In the event a Participant is employed by more than one company
      participating under this Plan, each such company shall share in the cost
      of any benefit to which the Participant is entitled under the Plan. The
      amount payable by each participating company shall be related to the
      Participant's service and earnings with such company, as determined in
      consultation with the Actuary and in accordance with any applicable
      agreement among the participating companies as may be in effect from time
      to time.

                                    Page 22

<PAGE>
SECTION 15 - GENERAL PROVISIONS

15.01  (1)  The adoption and maintenance of the Plan shall not be deemed to
            constitute a contract of employment between the Company and any
            Designated Employee or to be a consideration for the employment of
            any person.

       (2)  Nothing contained herein shall be deemed to give to any Designated
            Employee the right to be retained in the service of the Company or
            to interfere with the right of the Company to terminate the
            employment of any Designated Employee at any time without regard to
            the effect of such discharge upon the rights of such employee as a
            Participant of the Plan.

15.02  In the event that, on termination of the Plan, there should be a surplus
       in any of the Accounts set up under the Fund after making full provision
       for the accrued benefits payable from such Accounts to the Participants,
       such surplus shall revert to the Company or be applied as the Company
       may direct.

15.03  All payments made to a person entitled to benefits pursuant to the
       Plan's provisions are for the support and maintenance of such person and
       may not in any manner, in whole or in part, be assigned, alienated,
       sold, transferred, pledged, encumbered or charged and, except to the
       extent permitted by law, shall not be subject to attachment or subject
       to the claims of creditors of such person.

15.04  If the employment of a Participant is terminated and that person is
       thereafter re-employed, he will for all purposes of the Plan be
       considered to have first commenced employment with the Company on the
       date of his re-employment unless otherwise determined by Co-Steel.

15.05  Co-Steel shall have the sole authority to administer and interpret the
       Plan. Wherever the records of the Company are used for the purpose of
       this Plan, such records shall be considered conclusive of the facts with
       which they are concerned unless and until they are proven to be in error.

15.06  If, in the opinion of Co-Steel, any person receiving a benefit or
       entitled to receive a benefit under the terms of this Plan is, as a
       result of physical or mental infirmity, incapable of managing his
       affairs and no guardian, committee or other representative of the
       estate of such person has been duly appointed by a court of competent
       jurisdiction, Co-Steel may authorize any payment to which such person is
       entitled to be made to his

                                    Page 23
<PAGE>

       spouse, child or other person on his behalf and such payment shall be a
       complete discharge of the obligation of the Plan to make such payment.

15.07  All expenses incurred in administering the Plan will be paid by Co-Steel.

15.08  Subject to the provisions of the Funding Agreement, any notice or
       election to be given, made or communicated pursuant to or for any
       purpose of the Plan shall be given, made or communicated in writing.

15.09  Section headings are for convenient reference only and shall not be
       deemed to be a part of the substance of this instrument or in any way to
       enlarge or limit the contents of any Section.

15.10  The masculine gender shall include the feminine and the singular shall
       include the plural unless the context clearly indicates otherwise.

15.11  The Plan is to be construed according to the laws of the Province of
       Ontario.

15.12  If any provision of the Plan shall be held illegal or invalid for any
       reason, such illegality or invalidity shall not affect the remaining
       parts of the Plan, but the Plan shall be construed and enforced as if
       such illegal or invalid provision had never been inserted therein.

                                    Page 24

<PAGE>
SECTION 16 -- FUTURE OF THE PLAN

16.01    Co-Steel retains the right to amend, modify or terminate the Plan in
         whole or in part, at any time and from time to time, and in such manner
         and to such extent as it may deem advisable, subject to the following
         provisos:

         (1)   no amendment shall have the effect of reducing the then existing
               interest in the Fund of any Participant, joint annuitant,
               beneficiary, or estate unless a benefit of the same Actuarial
               Equivalent Value as the reduction is provided under another
               arrangement and in the opinion of the Funding Agency in
               consultation with the Actuary and legal counsel, this other
               arrangement does not adversely affect the security of benefits;

         (2)   no amendment to;

               (a)  change any attributes of the Letter of Credit as set out in
                    Section 3, unless in the opinion of the Funding Agency in
                    consultation with the Actuary and legal counsel the change
                    does not adversely affect the security of benefits provided
                    under the Plan, or

               (b)  remove the requirement to maintain the Fund except where the
                    Plan is discontinued,

               shall be made without the unanimous written consent of the
               Participants and, with respect to deceased Participants, their
               Spouses or beneficiaries who at the effective date of the
               amendment are entitled to current payments under the Plan;

         (3)   any amendment that removes any right of the Funding Agency or
               imposes additional duties or responsibilities on the Funding
               Agency is effective only if it is signed by both the Company and
               the Funding Agency;

         (4)   any amendment that alters the terms of an existing Personal
               Retirement Agreement is effective only if it is signed by both
               the Company and the relevant Participant.

16.02    If it should become necessary to discontinue the Plan, the assets of
         the Fund may be applied to provide for the payment of retirement and
         other benefits in an equitable and non-discriminatory manner to
         Participants, joint annuitants, beneficiaries, and estates provided
         that the amounts of and methods of payment of the benefits arising from
         the asset allocations

                                    Page 26
<PAGE>

      shall be as determined by Co-Steel on the advice of the Actuary in
      accordance with the method of asset allocation chosen.

                                    Page 26

<PAGE>

                                   SCHEDULE B

                     Designated Employees on the Effective
                         Date Pursuant to Section 5.01

The following Employees became Participants of the Plan as at the Effective
Date in accordance with Section 5.01 of the Plan:

                              Edward Reilly
                              Terry Newman
                              Dale Schmeizle
                              David Camozzi
                              John MacLean
                              Beth Kidney

<PAGE>

                                 CO-STEEL GROUP

                SUPPLEMENTARY EXECUTIVE RETIREMENT PLAN "B" FOR

                          SENIOR MANAGEMENT EMPLOYEES

                             Effective May 25, 2000

<PAGE>

                               TABLE OF CONTENTS

ARTICLE 1   DEFINITIONS .....................................................  2

ARTICLE 2   ESTABLISHMENT OF THE PLAN .......................................  6

ARTICLE 3   BENEFITS UNFUNDED ...............................................  7

ARTICLE 4   ADMINISTRATION OF THE PLAN ......................................  8

ARTICLE 5   ELIGIBILITY .....................................................  9

ARTICLE 6   VESTING ......................................................... 10

ARTICLE 7   RETIREMENT DATES ................................................ 11

ARTICLE 8   RETIREMENT BENEFITS ............................................. 12

ARTICLE 9   DISABILITY ACCRUAL .............................................. 15

ARTICLE 10  TERMS OF PAYMENT ................................................ 16

ARTICLE 11  DEATH BENEFITS .................................................. 17

ARTICLE 12  TERMINATION AFTER THE VESTING DATE .............................. 18

ARTICLE 13  DESIGNATION OF BENEFICIARY ...................................... 19

ARTICLE 14  GENERAL PROVISIONS .............................................. 20

ARTICLE 15  FUTURE OF THE PLAN .............................................. 22

<PAGE>

                                     - 2 -

ARTICLE 1                         DEFINITIONS

For purposes of this Plan, including this Section, as the context may require,
the expressions set out below shall have the following meanings regardless of
any definitions at variance therewith in any other document.

1.01     "Actuarial Equivalent Value" means a value equal to the value of
         retirement benefits, when computed as described below and in the same
         currency in which benefits are payable to the Participant on whose
         behalf a computation is required. The calculation shall be made as of
         the date at which a determination is required, using the actuarial
         tables and such other methods as may be adopted by the Company on the
         advice of the Actuary.

1.02     "Actuary" means a person, firm, or corporation designated by the
         Company to be the actuary of the Plan, who shall be, or, in the case of
         a firm or corporation, a member of the staff of which shall be, duly
         qualified and acceptable to the Company.

1.03     "Average Earnings" means the average annual Earnings of the Participant
         during the 36 consecutive months of Credited Service at any time
         preceding the Participant's retirement, death or termination of
         employment in which the highest average is attained. If a Participant
         has not completed 36 months of Credited Service, the Participant's
         Average Earnings shall be based on his average annual Earnings during
         his period of Credited Service.

1.04     "Company" means Co-Steel and/or, as the case may be, any past, present
         or future associate, subsidiary or affiliate thereof which may with the
         consent of Co-Steel, be included in the Plan.

1.05     "Co-Steel" means Co-Steel Inc. and any successor company.

1.06     "Continuous Service" means the last period of uninterrupted active
         employment rendered on a regular, full-time basis by a Designated
         Employee to the Company, from the date the Designated Employee became a
         member of the Retirement Plan to the date such Designated Employee
         ceases employment, (that is, the date of the termination of employment
         of such Designated Employee without regard to notice of termination,
         payment in lieu thereof, severance or other damages unless otherwise
         agreed with the Designated Employee in writing), or such Designated
         Employee's death, or retirement, whichever first occurs and includes
         the following:

         (1)      service of the Designated Employee before the Effective Date;

<PAGE>
                                     - 3 -

     (2)  approved leave of absence of the Designated Employee, including sick
          leave; and

     (3)  Disability of the Designated Employee.

1.07 "Credited Service" of a Designated Employee means the Designated Employee's
     number of completed years and months of Continuous Service.

1.08 "Designated Employee" means a regular full-time salaried employee of the
     Company who has been designated as eligible to participate in the Plan
     pursuant to Article 5.

1.09 "Disability" means

     (1)  any period in which the Participant is in receipt of a benefit under
          a Company sponsored disability plan, other than this Plan, to which
          the Company makes contributions directly or indirectly;

     (2)  the portion of any period, not exceeding one year, in which the
          Participant is in receipt of Worker's Compensation disability income
          benefits with respect to employment with a Company; and

     (3)  the portion of any period in which the Participant is in receipt of
          Worker's Compensation disability income benefits with respect to
          employment with a Company which exceed one (1) year, provided that the
          Participant wound be eligible (whether the disability is occupational
          or non-occupational in nature) to receive benefits under a Company
          sponsored disability plan if he or she were not in receipt of such
          Worker's Compensation disability income benefits.

1.10 "Earnings" for a given 12-month period means the basic salary paid to a
     Participant during the period as determined by Co-Steel for purposes of the
     Plan, excluding overtime pay, bonuses, profit-sharing or other extra
     compensation. Salary earned from any company that is part of the Co-Steel
     group of companies, but excluding a Non-Participating Affiliate, will be
     taken into account for this purpose, and any salary earned in a currency
     other than Canadian dollars will be converted to Canadian dollars at the
     exchange rate in effect as of the last day of the calendar year in which
     the compensation was earned.

1.11 "Effective Date" means May 25, 2000.
<PAGE>
                                      -4-

1.12  "Non-Participating Affiliate" means an associate, subsidiary or affiliate
      of Co-Steel that does not participate in the Plan.

1.13  "Participant" means an individual who is or has been a Designated Employee
      and who is or will be entitled to benefits and rights under the Plan upon
      reaching the Vesting Date or as otherwise provided hereunder.

1.14  "Personal Retirement Agreement" means the agreement, if any, between each
      Participant and Co-Steel which supplements and modifies this Agreement in
      respect of the particular Participant.

1.15  "Plan" means this Co-Steel Group Supplementary Executive Retirement Plan
      "B" for Senior Management Employees, as it is hereby constituted effective
      May 25, 2000, and including any amendments thereto which may from time to
      time be made by Co-Steel.

1.16  "Plan Year" means the period commencing on January 1st of any year and
      ending on the following December 31st.

1.17  "Retirement Plan" means any formal retirement savings arrangement
      sponsored by the Company for its employees and in which the Designated
      Employee participates, whether registered or unregistered or whether
      funded or unfunded.

1.18  "Same-Sex Partner" means a person of the same sex as the Participant who
      is living with the Participant in a conjugal relationship:

      (1)  continuously for a period of not less than 3 years; or

      (2)  in a relationship of some permanence if the Participant and that
           person are the natural or adoptive parents of a child, both as
           defined in the Family Law Act (Ontario).

1.19  "Spouse" means the Participant's legally married spouse provided that if a
      Retirement Plan of which the Participant is a member at the date a
      determination is required contains a different definition of spouse than
      that specified hereunder, such Retirement Plan's definition shall prevail.

1.20  "Tax Act" means the Income Tax Act (Canada) as amended and the regulations
      issued under the Income Tax Act (Canada) from time to time.

1.21  "Unreduced Age" in respect of a Participant, shall refer to the age of the
      Participant at the time that any one of the following three conditions has
      been fulfilled:

      (1)  The Participant has completed at least 30 years of Continuous
           Service.
<PAGE>
                                     - 5 -

          (2)  The Participant's age plus years of Continuous Service equals a
               total of at least 80.

          (3)  The Participant has attained one of the following combinations of
               age and years of Continuous Service:

                                                        YEARS OF
                    PARTICIPANT'S AGE             CONTINUOUS SERVICE
                    -----------------             ------------------

                          62                               2

                          61                              13

                          60                              16

                          59                              19

                          58                              22

                          57                              25

                          56                              28

                          55                              30

1.22 "Vesting Date" in respect of a Participant shall mean the date that the
     Participant attains the age of 55.
<PAGE>
                                     - 6 -

ARTICLE 2                  ESTABLISHMENT OF THE PLAN

2.01  The Plan is an unregistered plan that is being established as of the
      Effective Date, for Designated Employees. The purpose of the Plan is to
      ensure that Designated Employees receive enhanced retirement benefits as
      defined in the Plan, without limitation due to maximums imposed on
      registered pension plans by applicable regulatory authorities.

2.02  The Plan is unfunded. At such time in the future when a Designated
      Employee attains the age of 55, the Company will secure the benefits
      promised hereunder by establishing an arrangement for such Designated
      Employee to provide funding in a manner acceptable to both such
      Designated Employee and the Company.

<PAGE>

                                     - 7 -

ARTICLE 3     BENEFITS UNFUNDED

3.01 The benefits under this Plan shall not be funded in respect of a
     Participant until such Participant attains the Vesting Date.

3.02 The Company may maintain reserve accounts and make such investments as it
     deems desirable to meet the potential future obligations hereunder but
     such investments are assets of the Company and subject to the claims of
     its creditors.

<PAGE>

                                     - 8 -

ARTICLE 4     ADMINISTRATION OF THE PLAN

4.01 The administration of the Plan shall be the responsibility of Co-Steel,
     and whenever a question which cannot be settled by reference to the Plan
     arises in the course of such administration, Co-Steel may settle such
     question at its discretion in a manner not inconsistent with the
     provisions of the Plan.

4.02 Co-Steel may appoint any person or corporation to administer the Plan and
     may delegate for such purpose from time to time such authority as it may
     deem necessary and advisable.

<PAGE>

                                     - 9 -

ARTICLE 5                         ELIGIBILITY

5.01   The persons set out in Schedule "B" to this Plan are hereby designated as
       Designated Employees and Participants in the Plan.

5.02   Each regular full-time Salaried Employee of the Company shall, subject to
       Section 5.03 become a Participant as of the date he or she becomes a
       Designated Employee.

5.03   No person shall become a Designated Employee unless such person has been
       so recommended by the Chief Executive Officer and approved by:

       (1)  the Compensation Committee of the Board of Directors of Co-Steel; or

       (2)  the Board of Directors of Co-Steel.

       The status of Designated Employee must be evidenced and confirmed by
       appropriate documentation of the retirement committee of Co-Steel or the
       equivalent body of any associated, subsidiary or affiliated company
       employing such person, a certified copy of which shall be delivered to
       such person.

<PAGE>

                                     - 10 -

ARTICLE 6     VESTING

6.01 A Participant shall become vested with respect to the benefits hereunder
     when he or she attains the Vesting Date while in Continuous Service. If a
     Participant is terminated, resigns or retires prior to attaining the age
     of fifty-five (55) such employee shall not be entitled to any benefits
     hereunder.

<PAGE>

                                     - 11 -

ARTICLE 7     RETIREMENT DATES

7.01 Subject to Section 7.03, the normal retirement date for a Participant will
     be the first day of the month coincident with or next following the
     Participant's attainment of age 65 (the "normal retirement date").

7.02 Subject to Section 8.03, a Participant may retire and commence to receive
     a pension benefit under this Plan on the first day of any month prior to
     attainment of normal retirement date, provided such Participant has
     attained the earlier of the Participant's Unreduced Age and age 55 ("early
     retirement date").

7.03 A Participant who has been permitted by Co-Steel or another employer
     participating under the Plan to remain in its service beyond attainment of
     age 65, will have his or her retirement benefits determined based on his
     or her Credited Service to his or her normal retirement date and on
     Earnings to his or her postponed retirement date.

<PAGE>
                                     - 12 -

ARTICLE 8                      RETIREMENT BENEFITS

8.01 (1)  The benefits described in this Article 8 are not subject to
          limitations due to the maximum pension rules established by
          applicable regulatory authorities. The benefits payable from the Plan
          are the benefits calculated in accordance with the applicable
          provisions of this Article 8, reduced by:

          (a)  the amount of any benefits payable in accordance with a
               Retirement Plan of the Company, including bridging supplements
               and any lump sum payable from a defined benefit or defined
               contribution plan, in respect of any part of the same period of
               Credited Service; the adjustment shall be determined as if the
               Participant elected to receive an Actuarial Equivalent pension
               payable in the same form as is payable under the Plan; and

          (b)  the proportionate amount of any government sponsored retirement
               benefits to which the Company has contributed, attributable to
               the same period of Credited Service. For the purpose of this
               provision, the applicable amount of any government benefit shall
               be based on the benefit rate in effect as of the date at which a
               calculation is required hereunder.

     (2)  A pension being paid to an individual under this Plan shall further
          be reduced if any amount of surplus is distributed from the
          Retirement Plan to the individual. The reduction shall be equal to
          the pension that has the Actual Equivalent Value of the amount of
          surplus distributed and such reduction shall be determined by
          Co-Steel and implemented within six months after such surplus
          distribution.

8.02 Subject to Section 8.01, each Participant who retires on the Participant's
     normal or postponed retirement date will be entitled to receive an annual
     pension benefit, payable monthly, equal to 2% of the Participant's Average
     Earnings multiplied by the Participant's years of Credited Service, not to
     exceed a total of 70% of the Participant's Average Earnings.

8.03 Each Participant who retires on his or her early retirement date in
     accordance with Section 7.02 will be entitled to receive an annual pension
     benefit in an amount determined as follows:

<PAGE>
                                     - 13 -

          (a)  for a Participant who retires on or after the Participant's
               Unreduced Age, a benefit in accordance with Section 8.02.

          (b)  for a Participant who retires on or after age 55, but prior to
               his or her Unreduced Age, a benefit calculated in accordance with
               Section 8.02, but reduced by 0.5% for each complete month that
               the pension commencement date precedes the Unreduced Age.

8.04 The first payment of the retirement benefit payable to a Participant under
     this Section shall be due and payable on the first day of the month
     coincident with or next following the Participant's actual retirement date,
     with subsequent amounts being due on the first day of each succeeding month
     for the balance of the applicable payment period.

8.05 Co-Steel reserves the right, in circumstances where retirement is prior to
     the normal retirement date and by mutual agreement between the Participant
     and the Company, to provide one or more of the following benefit
     improvements:

     (1)  waive the reduction applicable under Section 8.03, when the
          Participant retires subsequent to age 55 but prior to the
          Participant's Unreduced Age; and

     (2)  increase the Participant's pension benefit to reflect all or part of
          the salary increases that would be expected for the Participant over
          the period to the Participant's normal retirement date if the
          Participant was not retiring.

8.06 (1)  Subject to the reductions specified in Section 8.01 for the amount of
          any benefits payable in accordance with a Retirement Plan of the
          Company or any government sponsored retirement benefits, in respect of
          any part of the same period of Credited Service, annual cost of living
          increase payments pursuant to this Section 8.06 are provided to:

          (a)  a Participant who is receiving monthly pension payments from the
               Plan; and

          (b)  the surviving Spouse or Same-Sex Partner or surviving joint
               annuitant of the Participant who dies in service or was receiving
               monthly pension payments from the Plan,

          provided that the Participant or the surviving Spouse or Same-Sex
          Partner or surviving joint annuitant was receiving his or her pension
          on November 1 of the year preceding the year during which the increase
          is paid.
<PAGE>

                                     - 14 -

     (2)  The increase for the cost of living adjustment pursuant to this
          Section 8.06 is determined as at January 1 each year. The pension
          payment will be increased to reflect 80% of the percentage change in
          the Consumer Price Index for the 12 months ending October in the prior
          calendar year, up to a maximum increase in pension of 4% per annum.

          For the purposes of this Section 8.06, "Consumer Price Index" means
          the Consumer Price Index for Canada for All Items (Not Seasonally
          Adjusted) provided by Statistics Canada, or such other official
          measure of price movement as may be substituted therefor.

     (3)  The percentage increase described in paragraph 8.06(2):

          (a)  applies to the amount of the pension (calculated pursuant to
               the other provisions of this Article 8 or Article 9 prior to the
               application of any offset under Section 8.01) being paid to the
               Participant or the surviving Spouse or Same-Sex Partner or the
               surviving joint annuitant at the date the cost of living
               adjustment is granted, being January 1; and

          (b)  is payable in the same form and with the same guarantees as the
               pension to which the increase is applied;

          and such additional pension payments shall be cumulative.

8.07 Notwithstanding any of the provisions of this Plan, if the Plan is
     terminated the Company may, at its discretion, calculate the Actuarial
     Equivalent Value of any Participant's or other person's entitlement under
     this Plan, and pay to the person such lump sum in full satisfaction of the
     benefits accrued and remaining unpaid to such person under the Plan.

<PAGE>
                                     - 15 -

ARTICLE 9                       DISABILITY ACCRUAL

9.01  A Participant who experiences a Disability prior to his or her normal
      retirement date will be deemed not to have terminated employment with the
      Company and will continue to accrue benefits under this Plan until he or
      she retires, reaches normal retirement age or ceases to experience such
      Disability, whichever first occurs. Such Participant's Earnings for the
      purposes of this Plan, during the period that he or she experiences such
      Disability, shall be deemed to be his or her Earnings in effect at the
      date of the commencement of such Disability. The Participant's Continuous
      Service will be deemed to have continued uninterrupted during such
      Disability.

      If a Participant retires and commences to receive a benefit under this
      Plan while still experiencing a Disability, the Participant shall be
      entitled to receive an annual pension benefit calculated in accordance
      with the appropriate provisions of Article 8, but further reduced by

      (1)  the amount of any government-sponsored disability benefits to which
           a Company has contributed; and

      (2)  the amount of any benefits payable under a disability plan sponsored
           by a Company

      received by such Participant.

<PAGE>

                                     - 16 -

ARTICLE 10                       TERMS OF PAYMENT

10.01    Subject to Section 8.07, the retirement benefit provided under this
         Plan shall be payable;

         (1)      if the Participant has no Spouse or Same-Sex Partner, at the
                  time of the Participant's retirement, for the life of the
                  Participant, with a minimum payment period of 60 months; and

         (2)      if the Participant has a Spouse or Same-Sex Partner at the
                  time of the Participant's retirement, as a joint and survivor
                  pension payable in equal monthly instalments for the life of
                  the Participant, and after the Participant's death to the
                  Participant's Spouse or Same-Sex Partner for his or her
                  lifetime. The monthly pension payable to the Spouse or
                  Same-Sex Partner shall be 60% of the amount of each monthly
                  instalment paid to the Participant during his or her lifetime.
                  The joint and survivor pension shall have Actuarial Equivalent
                  Value to the pension payable in the form described in
                  subsection (1) above.

10.02    A Participant who has a spouse of Same-Sex Partner may elect the form
         of pension described in paragraph 10.01(1) above, provided that the
         Participant and the Spouse or the Same-Sex Partner, as the case may be,
         jointly waive the joint and survivor pension described in paragraph
         10.01(2) in the same manner and subject to the same provisions provided
         with respect to waiver of a spousal joint and survivor pension as
         provided in the Retirement Plan. If the Retirement Plan does not
         provide for a Same-Sex Partner, such a joint waiver for a Participant
         and a Same-Sex Partner shall be in accordance with the Retirement Plan
         provisions for spousal waiver of a joint and survivor pension.

<PAGE>
                                     - 17 -

ARTICLE 11                        DEATH BENEFITS

11.01     Subject to Section 8.07, if a Participant dies while in the service of
          the Company prior to his or her retirement date the Participant shall
          be deemed to have reached the Vesting Date if he or she has not
          already done so.

          (1)  If such Participant is survived by a Spouse or Same-Sex Partner,
               the Spouse or Same-Sex Partner will receive an annual pension
               benefit payable for the remainder of his or her lifetime, in an
               amount equal to 60% of the pension the Participant had earned up
               to the date of such Participant's death, pursuant to Section
               8.02; provided that the value of such benefit shall not be less
               than the commuted value of such Participant's accrued benefit
               under the Plan at the date of his or her death.

          (2)  If such Participant does not have a Spouse or Same-Sex Partner at
               the date of his or her death, a death benefit of a lump sum equal
               to the commuted value of his or her pension as of the date of
               death, will be paid in accordance with the provisions of Article
               13.

11.02     In the event of death of a Participant after the commencement of his
          or her monthly pension payments, the provisions of Section 10.01 will
          apply.
<PAGE>

                                     - 18 -

ARTICLE 12     TERMINATION AFTER THE VESTING DATE

12.01 If the service of a Participant is terminated on or after the date such
      Participant reaches the Vesting Date but prior to his or her normal
      retirement date, such Participant shall be entitled to a benefit
      determined as follows:

      (1)  at the Participant's termination date, the Participant will be
           deemed to have retired early on the termination date and will be
           entitled to an annual pension benefit determined in accordance with
           Section 8.03. Such benefit shall be payable on the first day of the
           month coincident with or next following the Participant's deemed
           retirement date, and monthly thereafter for the balance of the
           applicable payment period.

<PAGE>

                                     - 19 -

ARTICLE 13     DESIGNATION OF BENEFICIARY

13.01 A Participant may designate a beneficiary to receive any benefits payable
      under the Plan in the event of the Participant's death and such
      designation or alteration of such designation will be made in accordance
      with the terms of the Retirement Plan.

13.02 If, for any reason, the Participant dies with no designated beneficiary
      or the beneficiary designated to receive benefits dies before all
      guaranteed payments, if any, have been made, any remaining benefits
      payable under the Plan shall be paid in accordance with the terms of the
      Retirement Plan.

13.03 The Company may require the execution and delivery of such documents and
      receipts as it may deem necessary or desirable in order to be assured
      that the payment of death benefits is properly made to the party entitled
      thereto.

<PAGE>
                                      -20-

ARTICLE 14                     GENERAL PROVISIONS

14.01     (1)  The adoption and maintenance of the Plan shall not be deemed to
               constitute a contract of employment between the Company and any
               Designated Employee or to be a consideration for the employment
               of any person.

          (2)  Nothing contained herein shall be deemed to give to any
               Designated Employee the right to be retained in the service of
               the Company or to interfere with the right of the Company to
               terminate the employment of any Designated Employee at any time
               without regard to the effect of such discharge upon the rights of
               such employee as a Participant of the Plan.

14.02     In the event that, on termination of the Plan, there should be a
          surplus in any of the funds set aside under any funding arrangement to
          secure any benefits provided under this Plan, after making full
          provision for the accrued benefits payable from such funds to the
          Participants, such surplus shall revert to the Company or be applied
          as the Company may direct.

14.03     All payments made to a person entitled to benefits pursuant to the
          Plan's provisions are for the support and maintenance of such person
          and may not in any manner, in whole or in part, be assigned,
          alienated, sold, transferred, pledged, encumbered or charged and,
          except to the extent permitted by law, shall not be subject to
          attachment or subject to the claims of creditors of such person.

14.04     Except as otherwise provided herein, if the employment of a
          Participant is terminated and that person is thereafter re-employed,
          he will for all purposes of the Plan be considered to have first
          commenced employment with the Company on the date of his re-employment
          unless otherwise determined by Co-Steel.

14.05     Co-Steel shall have the sole authority to administer and interpret the
          Plan. Wherever the records of the Company are used for the purpose of
          this Plan, such records shall be considered conclusive of the facts
          with which they are concerned unless and until they are proven to be
          in error.

14.06     If, in the opinion of Co-Steel, any person receiving a benefit or
          entitled to receive a benefit under the terms of this Plan is, as a
          result of physical or mental infirmity, incapable of managing his or
          her affairs and no guardian, committee or other representative of the
          estate of such person has been duly appointed by a court of competent
          jurisdiction, Co-Steel may authorize any payment to which such person
          is entitled to be made to his
<PAGE>
                                     - 21 -

      or her Spouse or Same-Sex Partner, child or other person on his or her
      behalf and such payment shall be a complete discharge of the obligation of
      the Plan to make such payment.

14.07 All Expenses incurred in administering the Plan will be paid by
      Co-Steel.

14.08 Any notice or election to be given, made or communicated pursuant to or
      for any purpose of the Plan shall be given, made or communicated in
      writing.

14.09 Section headings are for convenient reference only and shall not be deemed
      to be a part of the substance of this instrument or in any way to enlarge
      or limit the contents of any Section.

14.10 The masculine gender shall include the feminine and the singular shall
      include the plural unless the context clearly indicates otherwise.

14.11 The Plan is to be construed according to the laws of the Province of
      Ontario.

14.12 If any provision of the Plan shall be held illegal or invalid for any
      reason, such illegality or invalidity shall not affect the remaining parts
      of the Plan, but the Plan shall be construed and enforced as if such
      illegal or invalid provision had never been inserted therein.

14.13 This Plan is binding on the Company and its successors and assigns.
<PAGE>

                                     - 22 -

ARTICLE 15     FUTURE OF THE PLAN

15.01 Co-Steel retains the right to amend, modify or terminate the Plan in
      whole or in part, at any time and from time to time, and in such manner
      and to such extent as it may deem advisable, subject to the following
      provisos:

      (1)  any amendment that alters the terms of an existing Personal
           Retirement Agreement is effective only if it is signed by both the
           Company and the relevant Participant; and

      (2)  any amendment or discontinuance may not impair any benefits
           previously granted.

<PAGE>

                                   SCHEDULE B

                     Designated Employees on the Effective
                         Date Pursuant to Section 5.01

The following Employees became Participants of the Plan as at the Effective
Date in accordance with Section 5.01 of the Plan:

                                    Andy Boulanger
                                    Brett Richards<PAGE>

                                                                Exhibit 10(xix)

<TABLE>
<S>                                                         <C>                       <C>
Mandak Metal Processors,                                    P.O. Box 334,                     Phone: (204) 482-8701
A Division of Gerdau MRM Steel Inc.                         Selkirk, Manitoba         From Winnipeg: (204) 284-3375
                                                            R1A 2B3                             Fax: (204) 482-8241
</TABLE>

                                                                PENSION PLAN FOR
                                                                 UNION EMPLOYEES

                                                            Office Consolidation
                                       up to and including Amendment No. 9 as at
                                                                   June 27, 2002

                                                                      July, 2002
                                                        Ellement & Ellement Ltd.
                                                            Consulting Actuaries
<PAGE>
TABLE OF CONTENTS

                                                                            PAGE
                                                                            ----

Section 1      Introduction ..............................................    1

Section 2      Definitions ...............................................    3

Section 3      Membership ................................................    9

Section 4      Contributions .............................................   12

Section 5      Retirement Dates ..........................................   15

Section 6      Retirement Benefits .......................................   16

Section 7      Form of Pension Benefits ..................................   20

Section 8      Termination Benefits ......................................   24

Section 9      Death Benefits ............................................   26

Section 10     Designation of Beneficiary ................................   28

Section 11     Administration ............................................   29

Section 12     Pension Fund ..............................................   31

Section 13     Future of the Plan ........................................   32

Section 14     General Provisions ........................................   34

Section 15     Marriage Breakdown ........................................   37

Appendix A     ...........................................................   40
<PAGE>
SECTION 1 - INTRODUCTION

The Pension Plan for Union Employees of Mandak (the Plan) was established by
Mandak Metal Processors, A Division of MRM Steel Inc. effective July 1, 1990.

Prior to July 1, 1990, Mandak, maintained a Prior Plan of the money purchase
type for its union employees. The Prior Plan was known as the Retirement Plan
for the Employees of Mandak Metal Processors Ltd. and continues in force for
participants not eligible to join this Plan. A related company, Winnipeg Car
Crushers Ltd., who participated in the Prior Plan, will also participate in this
Plan. For the purpose of the Plan as of July 1, 1990, the Winnipeg Car Crushers
is solely a division of the Company and no longer exists as a taxable entity.

The salaried employees of Mandak also participated in the Prior Plan. Benefits
earned by union employees of Mandak while participants in the Prior Plan will
continue to be paid in accordance with the Prior Plan, although no further
contributions will be made on their behalf. Salaried employees will continue to
participate in the Prior Plan.

The Plan as amended from time to time is subject to subsection 13.01 hereof and
to the continued registration thereof by:

(a)  the relevant tax authorities as is necessary to establish that the Company
     is entitled to deduct the amount of its payments to this registered pension
     plan, in computing taxable income, under the provision of the Income Tax
     Act (Canada) or any other applicable tax laws, and

(b)  the Pension Commission of Manitoba pursuant to the Pension Benefits Act
     (1985).

The Plan is also subject to any other applicable legislation, as is now in
effect, as amended from time to time or as may hereafter be enacted.

Effective July 31, 1998, the Company, acting through the Board of Directors of
Gerdau MRM Steel Inc. or any person authorized by that Board of Directors for
the purposes of the Plan has acknowledge the merger of the Retirement Plan for
Employees of Mandak Metal Processors, A Division of Gerdau MRM Steel Inc. with
the Pension Plan for Salaried Employees of the MRM Steel Division of Gerdau MRM
Steel Inc. Due to this merger, the accounts of the union employees of Mandak,
while participants in the Prior Plan, will be transferred to this Plan.

                                      -1-

<PAGE>

Effective July 31, 1998, any benefits to be paid under this Plan, in respect of
the Prior Plan benefits, will be paid in accordance with provision changes made
to this Plan to replace the Prior Plan provisions.

Appendix A of the Plan details the union employees and their transferred amounts
from the Prior Plan effective July 31, 1998.

                                      -2-

<PAGE>

SECTION 2 - DEFINITIONS

In this Plan, the following words shall have the following meanings,
respectively, unless a different meaning is specifically required by the
context.

2.01 ACTUARIAL EQUIVALENT

     ACTUARIAL EQUIVALENT means a pension of an actuarially equivalent value
     computed using actuarial tables and such other methods and assumptions as
     may be adopted by the Company on the recommendation of the Actuary for the
     purposes of the Plan, subject to any requirements of the Pension Benefits
     Act.

2.02 ACTUARY

     ACTUARY means a person or firm retained by the Company who is, or one of
     whose employees is, a Fellow of the Canadian Institute of Actuaries.

2.03 BENEFICIARY

     BENEFICIARY means a beneficiary designated by a Member in accordance with
     Section 11.

2.04 COMMUTED VALUE

     COMMUTED VALUE means, in relation to benefits that a person has a present
     or future entitlement to receive, a lump-sum amount which is the actuarial
     present value of those benefits computed at the rate of interest and using
     the actuarial tables adopted by the Company on the recommendation of the
     Actuary, subject to the requirements of the Pension Benefits Act and Canada
     Customs and Revenue Agency.

2.05 COMPANY

     COMPANY means the Mandak Metal Processors, A Division of Gerdau MRM Steel
     Inc. Where any reference in the Plan is made to any action to be taken,
     consent approval or opinion to be given, discretion or decision to be
     exercised by the Company, COMPANY means Mandak Metal Processors, A Division
     of Gerdau MRM Steel Inc. acting through

                                      -3-

<PAGE>

     the Board of Directors of Gerdau MRM Steel Inc. or any person authorized by
     that Board of Directors for the purposes of the Plan.

2.06 CONTINUOUS SERVICE

     CONTINUOUS SERVICE means an Employee's uninterrupted period of service
     since his last date of hire by the Company, including any period while
     receiving long-term disability benefits from a plan sponsored by the
     Company, any periods of paid or unpaid leave of absence, any period of
     layoff, and any periods of Temporary Suspension of Employment.

2.07 CREDITED CURRENT SERVICE

     CREDITED CURRENT SERVICE means Credited Service earned with respect to
     service on and after July 1, 1990 as determined pursuant to subsection
     3.06(c).

2.08 CREDITED INTEREST

     CREDITED INTEREST means effective July 31, 1998, interest on the Member's
     Account of the net rate earned on the investments of the Pension Fund,
     credited annually and calculated at the end of each Plan Year and in
     compliance with the requirements of the Pension Benefits Act.

     If a lump-sum payment is to be made or a pension or other benefit is to
     commence in a Plan Year for which a rate of interest has not yet been
     calculated, interest will be added at the rate which the Company considers
     to be appropriate for that period of time but no less than .5% per month.

2.09 CREDITED PAST SERVICE

     CREDITED PAST SERVICE means Credited Service granted for service prior to
     July 1, 1990 as determined pursuant to subsection 3.06(b).

2.10 CREDITED SERVICE

     CREDITED SERVICE means the years and partial years of credit granted to a
     Member of the Plan in accordance with subsection 3.06.

                                      -4-

<PAGE>

2.11 EFFECTIVE DATE

     EFFECTIVE DATE means July 1, 1990.

2.12 EMPLOYEE

     EMPLOYEE means any person who is employed by the Company and is subject to
     a collective bargaining agreement with the Union.

2.13 FUNDING AGENT

     FUNDING AGENT means an insurance company authorized to carry on a life
     insurance business in Canada or a trust company or a group of at least 3
     individuals resident in Canada, at least one of whom is independent of the
     Company and includes any combination or successors thereof appointed by the
     Company to hold, administer, and invest the Pension Fund.

2.14 FUNDING AGREEMENT

     FUNDING AGREEMENT means any agreement or agreements now or hereafter
     executed between the Company and the Funding Agent for purposes of this
     Plan.

2.15 HOURS OF WORK

     HOURS OF WORK means time for which a Member was paid by the Company whether
     he actually worked or not including time for which benefits were received
     under any weekly indemnity plan sponsored by the Company unless the Member
     was in receipt of a pension under this Plan. Such additional time for
     weekly indemnity shall be credited at the rate of 40 hours per week.
     Overtime shall be credited as straight time so that a Member does not
     accrue Credited Service on the basis of "time-and-a-half" or any other such
     similar compensation system.

2.16 INCOME TAX ACT

     INCOME TAX ACT means the Income Tax Act, Statutes of Canada, and the
     Regulations thereunder, and where applicable, includes the provisions of
     Information

                                      -5-

<PAGE>

     Circular 72-13R8 issued by the Department of National Revenue, as amended
     or replaced from time to time.

2.17 MEMBER

     MEMBER means an Employee or a former Employee who has become a member of
     the Plan pursuant to Section 3 and who continues to be entitled to benefits
     under the Plan. MEMBER excludes a person by whom or in respect of whom
     benefits have been transferred under subsection 8.03.

2.18 NORMAL RETIREMENT DATE

     NORMAL RETIREMENT DATE means the normal retirement date of a Member as
     described in subsection 5.01.

2.19 PENSION BENEFITS ACT

     PENSION BENEFITS ACT means the Pension Benefits Act being Chapter P.32 of
     the Continuing consolidation of the Statutes of Manitoba as amended from
     time to time, and the regulations thereunder.

2.20 PENSION FUND

     PENSION FUND means the fund maintained to provide benefits under or related
     to the Plan.

2.21 PLAN

     PLAN means the Pension Plan for Union Employees of Mandak Metal Processors,
     A Division of Gerdau MRM Steel Inc., effective July 1, 1990, and as
     subsequently amended from time to time.

2.22 PLAN YEAR

     PLAN YEAR means July 1, 1990 through December 31, 1990 and thereafter, it
     means the calendar year.

                                      -6-

<PAGE>

2.23 PRIOR PLAN

     PRIOR PLAN means the Retirement Plan for the Employees of Mandak Metal
     Processors Ltd.

2.24 SPOUSE

     SPOUSE means, at the time of determination of marital status is required, a
     person who is:

     (a)  a legal spouse, or

     (b)  a common-law spouse, which, for purposes of this Plan, means a person
          publicly represented by the Member as the Member's Spouse with whom
          the Member is not legally married, but the Member and that person have
          been cohabiting continuously in a conjugal relationship for:

          (i)  a period of at least 3 years where either of the persons is
               prevented by law from marrying the other, or

          (ii) a period of not less than one year where neither of them is
               prevented by law from marrying the other,

          provided that such person qualifies as a spouse as defined at the
          relevant time by the Income Tax Act for purposes of registered pension
          plans.

2.25 TEMPORARY SUSPENSION OF EMPLOYMENT

     TEMPORARY SUSPENSION OF EMPLOYMENT means a period not exceeding 52
     consecutive weeks during which a person who immediately before the period
     was employed by an employer is not performing duties as an employee of the
     employer and after the expiry of which the person is again employed by the
     employer, except where an actual termination of the employment of the
     person has occurred, and includes any leaves of absence authorized by the
     employer or required by law to be granted which do not extend the period to
     more than 52 consecutive weeks.

                                      -7-

<PAGE>

2.26 UNION

     UNION means United Steel Workers of America, Local 8740.

2.27 LEGAL INTERPRETATION OF WORDS

     In this Plan, reference to the male gender includes the female gender
     unless the context required otherwise, and words importing the singular
     number only include the plural number and vice versa.

                                      -8-

<PAGE>

SECTION 3 - MEMBERSHIP

3.01 ELIGIBILITY

     Each Employee must become a Member of the Plan on the first day of the
     month coincident with or next following the completion of one year of
     Continuous Service. Employees who are members of the Prior Plan must become
     Members on the Effective Date.

3.02 TERMINATION OF PARTICIPATION NOT PERMITTED

     A Member's participation in the Plan shall not be terminated while he
     remains an Employee. An individual who has been laid off for more than 52
     weeks will no longer be considered an Employee.

3.03 RE-EMPLOYMENT

     (a)  Non-Pensioners

          If a former Employee, other than a person described in subsection
          3.03(b), is subsequently re-hired by the Company, the Employee shall
          be treated as a new Employee for purposes of eligibility for
          membership and benefits under the Plan, except with respect to any
          vested benefits which he may have to his credit in the Plan for his
          previous service. Any benefit earned after the date of re-hire shall
          be calculated based on Continuous and Credited Service after that
          date.

     (b)  Pensioners

          If a Member who is receiving a pension from the Plan is re-hired by
          the Company, the Member may elect either:

          (i)  to join the Plan immediately upon hire, in which case:

               (A)  his pension ceases immediately,

                                      -9-

<PAGE>

               (B)  the amount of accrued pension will not be altered and
                    recommences on his subsequent termination of Continuous
                    Service, and

               (C)  any benefit earned after the date of re-employment is
                    calculated based on Continuous and Credited Service after
                    that date, or

          (ii) to continue to receive his pension and not accrue any further
               benefits during the period of re-employment.

3.04 TRANSFER INTO THE PLAN

     If an Employee of the Company who participates in another pension plan
     sponsored by the Company is transferred to a category of employment such
     that he becomes an Employee for the purposes of the Plan, such Employee
     shall become a Member of the Plan upon the date of transfer of employment.
     The Continuous Service of the Employee shall include the entire period of
     uninterrupted employment with the Company and the Employee shall be deemed
     to have been a Member of this Plan from the date at which he became a
     member of the preceding plan. However, the Employee's Credited Service
     shall not include the period of employment prior to the date at which the
     Employee becomes a Member of the Plan.

3.05 TRANSFER TO OTHER EMPLOYMENT

     If a Member of the Plan is transferred to other employment with the Company
     and ceases to be an Employee for the purposes of the Plan, the Member's
     participation in the Plan shall be suspended. No benefits shall be payable
     during such period of suspension until such time as the Member subsequently
     retires, terminates employment, or dies. However, the uninterrupted period
     of time during which the member continues to be employed by the Company
     shall be included in the Member's Continuous Service and the Employee's
     period of Membership in the Plan shall be deemed to include membership in
     the subsequent plan.

                                      -10-

<PAGE>

     If such a Member is later transferred back so that he again becomes an
     Employee for the purposes of the Plan, and if there has been no break in
     Continuous Service, the Member's subsequent pension will be calculated
     based on all Credited Service earned while he was an Employee.

3.06 CREDITED SERVICE

     (a)  Credited Service is determined as the sum of Credited Past Service and
          Credited Current Service.

     (b)  Credited Past Service is determined as the Member's amount of
          Continuous Service at July 1, 1990 subject to a Maximum of 5 years.

     (c)  Credited Current Service is determined by the number of Hours of Work
          in a Plan Year according to the following table:

                 Hours of Work                  Credited Current Service
                 -------------                  ------------------------
                  Less than 1                               0
                   1 -   379                               .1
                 380 -   569                               .2
                 570 -   759                               .3
                 760 -   949                               .4
                 950 - 1,139                               .5
               1,140 - 1,329                               .6
               1,330 - 1,519                               .7
               1,520 - 1,709                               .8
               1,710 - 1,899                               .9
               1,900 or more                              1.0

     (d)  Credited Current Service for the Plan Year July 1, 1990 through
          December 31, 1990 shall be limited to .5 of a year.

                                      -11-

<PAGE>

SECTION 4 - CONTRIBUTIONS

4.01 COMPANY CONTRIBUTIONS

     (a)  Subject to subsection 4.01(b), the Company shall make such
          contributions to the Pension Fund as are required, based on the advice
          of the Actuary to provide:

          (i)  the normal cost of the benefits currently accruing to Members
               under the Plan, and

          (ii) for the proper amortization of any unfunded liability or
               experience deficiency.

     (b)  If at any time while the Plan continues in existence, the Actuary
          certifies that the assets of the Pension Fund exceed the actuarial
          liabilities of the Plan in respect of benefits defined in the Plan,
          such surplus assets or any portion of such assets, may be used by the
          Company to reduce its contribution obligations under subsection
          4.01(a), subject to any limitations prescribed under the Pension
          Benefits Act.

     (c)  The Company's contributions in respect of the normal cost of benefits
          shall be paid in monthly installments within 30 days following the
          month for which the contributions are payable. The Company's
          contributions in respect of special payments to amortize any unfunded
          liability or experience deficiency shall be payable within 30 days
          after the end of the Plan Year.

     (d)  Subject to the prior approval of the Superintendent of Pensions of
          Manitoba, any overpayment by the Company in the Plan Year in excess of
          the amount required to be contributed under subsection 4.01(a) or
          payments made by the Company that should have been paid out of the
          Pension Fund may be returned to the Company out of the Pension Fund.

     (e)  No contribution shall be made by the Company to the Pension Fund after
          1990, in accordance with subsection 4.01(a), unless it is an eligible
          contribution as defined by the Income Tax Act and is permitted by the
          Income Tax Act.

                                      -12-

<PAGE>

     (f)  Employer contributions to the Prior Plan equaled the amount of the
          Member required contributions to the Prior Plan as described in
          subsection 4.02.

4.02 MEMBER CONTRIBUTIONS

     As of the effective date of this Plan, Members are neither required nor
     permitted to make contributions to the Plan. Under the Prior Plan, a Member
     contributed by payroll deduction 4% of his salary during each year of
     membership in the Prior Plan.

4.03 RETURN OF CONTRIBUTIONS

     An amount contributed by the Company under subsection 4.01 may be refunded
     at any time to the Member or Company as applicable where such action is
     required to avoid the revocation of registration of the Plan under the
     Income Tax Act, subject to the approval of the Superintendent of Pensions
     of Manitoba.

4.04 MEMBER VOLUNTARY CONTRIBUTIONS

     Prior to July 1, 1990, a Member of the Prior Plan had been permitted to
     make voluntary contributions, in the amount and manner approved by the
     Company, which contributions will be allocated to an individual account on
     behalf of the Member. No Member Voluntary Contributions are permitted after
     the effective date of this Plan.

     The total of Company Contributions under subsection 4.02, and Member
     Voluntary Contributions shall not exceed the maximum limits for the year as
     prescribed by the Income Tax Act.

4.05 MEMBER'S ACCOUNT

     An account will be maintained for each Member where contributions have been
     made to the Prior Plan and where the Member still is entitled to a benefit
     in respect of such contributions. The account will consist of Member,
     Company, and Voluntary Contributions made to the Prior Plan and the
     interest that has been earned on these contributions.

                                      -13-

<PAGE>

     Where a benefit becomes payable to a Member following termination, death,
     or retirement, the value of the Member's Account will be the value at the
     end of the last Plan Year plus Credited Interest to the end of the month
     preceding the date of payment of the benefit.

                                      -14-

<PAGE>

SECTION 5 - RETIREMENT DATES

5.01 NORMAL RETIREMENT DATE

     For purposes of the Plan, Normal Retirement Date means the first day of the
     month coincident with or next following the date on which the Member
     attains age 65.

5.02 EARLY RETIREMENT DATE

     If a Member who is entitled to a deferred pension leaves active employment
     with the Company after attaining age 55 and before Normal Retirement Date:

     (a)  the Member shall be considered to have retired early for the purposes
          of the Plan on his early retirement date which is the first day of the
          month coincident with or next following the date on which the Member
          leaves active employment with the Company, and

     (b)  the Member shall be entitled to receive an early retirement pension.

5.03 POSTPONED RETIREMENT DATE

     A Member who remains in the employment of the Company after his Normal
     Retirement Date, has the right to continue as a Member of the Plan and
     Credited Service will continue to accrue. The Member may retire on the
     first day of any month after his Normal Retirement Date but shall in any
     event be deemed to retire for the purposes of the Plan not later than the
     first day of December in the calendar year in which the Member attains age
     69.

                                      -15-

<PAGE>

SECTION 6 - RETIREMENT BENEFITS

6.01 NORMAL RETIREMENT PENSION

     A Member who retires on his Normal Retirement Date shall be entitled to an
     annual pension, commencing on his Normal Retirement Date, in an amount
     equal to the sum of:

     (a)  $360 multiplied by the number of years of Credited Current Service,
          plus

          (b)  (i)  $360 multiplied by the number of years of Credited Past
                    Service reduced by

               (ii) the pension that can be provided by the contributions, plus
                    accrued interest, made by the Company during the period July
                    1, 1985 through June 30, 1990 to the Prior Plan on behalf of
                    the Member.

               The pension under this subsection 6.01(b) shall not be less than
               zero, plus

          (c)  the retirement annuity, if any, that can be provided by the
               Member's Account from the Prior Plan.

6.02 EARLY RETIREMENT PENSION

     A Member who retires early pursuant to subsection 5.02, may elect to
     receive either:

     (a)  a pension, commencing on the first day of any month on or following
          his early retirement date. The Member's pension shall be:

          (i)  the pension calculated according to the formula in subsection
               6.01(a) based on his Credited Current Service to the date he
               leaves active employment with the Company reduced by 1/2 of 1%
               for each month by which the pension commencement date precedes
               the Member's Normal Retirement Date, plus

          (ii) the pension calculated according to the formula in subsection
               6.01(b) based on Credited Past Service to the date he leaves
               active employment

                                      -16-

<PAGE>

                with the Company, reduced by 1/2 of 1% for each month by which
                the pension commencement date precedes the Member's Normal
                Retirement Date, reduced by the pension that can be provided by
                the contributions, plus accrued interest, made by the Company
                during the period July 1, 1985 through June 30, 1990 to the
                Prior Plan on behalf of the Member.

          The pension under this subsection 6.02(a)(i) shall not be less than
          zero, plus

          (iii) the retirement annuity, if any, that can be provided by the
                Member's Account from the Prior Plan.

          Notwithstanding the above, the reduction for early retirement
          described above will be at least equal to the reduction outlined in
          paragraph 8503(3)(c) of the Regulations to the Income Tax Act, or

     (b)  a deferred pension, commencing on his Normal Retirement Date,
          calculated according to the formula in subsection 6.01(a) and (b)
          based on his Credited Service to the date he leaves active employment
          with the Company, plus the retirement annuity, if any, that can be
          provided by the Member's Account from the Prior Plan at his Normal
          Retirement Date.

6.03 POSTPONED RETIREMENT PENSION

     A Member who remains in the employ of the Company beyond his Normal
     Retirement Date will continue to accrue benefits during his continued
     employment and will receive a pension commencing on his Postponed
     Retirement Date calculated according to the formula in subsection 6.01
     based on Credited Service up to his Postponed Retirement Date.

6.04 SMALL BENEFIT COMMUTATION

     If the annual pension payable at the Member's Normal Retirement Date or its
     Commuted Value is not more than 4% of the YMPE in the year of the Member's
     retirement, payable in the normal form indicated in subsection 7.02, the
     Member shall receive a lump-sum payment equal to the Commuted Value of his
     pension or deferred pension in full discharge of all obligations under the
     Plan.

                                      -17-

<PAGE>

6.05 MAXIMUM PENSION

     Notwithstanding any other provision of this Plan to the contrary, the
     annual lifetime pension payable to a Member under this Plan, payable in the
     form of pension to be paid to the Member, including any portion of pension
     payable to the Member's Spouse or former Spouse, determined at the time of
     pension commencement, shall not exceed the years of the Member's Credited
     Service multiplied by the lesser of:

     (a)  $1,722.22 or such greater amount permitted under the Income Tax Act,
          and

     (b)  2% of the Member's Highest Average Earnings in any 3 non-overlapping
          periods of 12 consecutive months,

     reduced, if the pension commencement date precedes the earliest of the days
     on which:

     (a)  the Member will attain age 60,

     (b)  the Member's age plus early retirement eligibility service would have
          equaled 80, or

     (c)  the Member would have completed 30 years of early retirement
          eligibility service,

     by 1/4 of 1% of each month by which the pension commencement date precedes
     that day.

     The pre-1992 maximum pension shall not be less than the benefits calculated
     according to the maximum value test contained in paragraph 21 of
     Information Circular 72-13R8.

     This subsection 6.05 does not apply to additional benefits payable as a
     result of any Actuarial Equivalent increase due to deferral of pension
     commencement after age 65, nor does it apply to that portion, if any, of
     the pension derived from the Member's Account from the Prior Plan.

     For the purposes of this subsection 6.05, a Member's pensionable service
     before January 1, 1992 is limited to 35 years and that pensionable service
     is as defined under the Income Tax Act and Regulations.

                                      -18-

<PAGE>

6.06 MAXIMUM VALUE

     Notwithstanding any other provision of this Plan to the contrary, the value
     of an annual pension benefit provided upon early retirement under this Plan
     shall not exceed the value of the maximum pension as set out in subsection
     6.05, payable at the earliest of age 60, Normal Retirement Date, or the age
     of date of disability, in the form of a single life annuity guaranteed for
     10 years.

6.07 PENSION ADJUSTMENT

     In no event shall the benefit accrued by a Member in a Plan Year under
     subsection 6.01 result in a pension adjustment for the Member (as described
     by the Income Tax Act) in excess of the limits for the year prescribed by
     the Income Tax Act.

6.08 REDUCTION OF BENEFITS

     The Plan may, at any time, be amended by the Company to reduce the benefits
     provided under this Section 6 where such action is required to avoid the
     revocation of registration of the Plan under the Income Tax Act, subject to
     the approval of the Superintendent of Pensions of Manitoba.

                                      -19-

<PAGE>

SECTION 7 - FORM OF PENSION BENEFITS

7.01 PENSION CALCULATION ACCORDING TO NORMAL FORM

     The amount of pension provided under subsection 6.01, 6.02, or 6.03 is
     calculated according to the normal form of pension for the Member and is
     payable in that normal form of pension unless the Member elects an optional
     form of pension.

7.02 NORMAL FORM OF PENSION BENEFIT

     The normal form of pension is as follows depending on whether the Member
     has a Spouse on the date when pension payments commence:

     (a)  Member without a Spouse

          For a Member who has no Spouse on the date on which pension payments
          commence, the normal form of pension benefit is an annuity payable in
          monthly installments for the life of the Member, and

     (b)  Member with a Spouse

          For a Member who has a Spouse on the date on which pension payments
          commence, the normal form of a pension is a joint and survivor annuity
          which is:

          (i)  payable in monthly installments of a reduced amount for the life
               of the Member and payable after the Member's death to the
               Member's Spouse for her life in monthly installments equal to 66
               2/3% of the amount of each monthly installment paid during the
               life of the Member, and

          (ii) the reduced amount of pension referred to in subsection
               7.02(b)(i) is the Actuarial Equivalent of a pension in the form
               described in subsection 7.02(a).

                                      -20-

<PAGE>

     (c)  Waiver of spousal joint and survivor pension

          A Member who has a Spouse may elect any other form of pension which
          provides no benefit to the Spouse or a benefit to the Spouse that is
          less than 66 2/3% of the benefit paid to the Member where the
          administrator of the Plan receives a written waiver that:

          (i)   is signed by the Spouse of the retiring Member in the presence
                of a witness and separate from the Member not more than 15 days
                after receipt of the retirement statement, and

          (ii)  contains a statement that the Spouse of the retiring Member is
                aware of the right of the Spouse to a pension benefit upon the
                death of the retiring Member and intends to waive that right,
                and

          (iii) is signed by the retiring Member.

7.03 ELECTION OF OPTIONAL FORMS

     In lieu of the normal form of pension payable according to subsections
     7.02(a) or 7.02(b), subject to the restriction under subsection 7.02(c), a
     Member may elect, before pension commencement, to receive his pension
     benefit in one of the optional forms of pension specified in subsection
     7.04.

7.04 DESCRIPTION OF OPTIONAL FORMS OF PENSION BENEFIT

     (a)  Life guaranteed 5 years

          Under the life guaranteed 5 years form of pension, the Member receives
          equal monthly installments of pension payable for life with the
          guarantee that, if the Member dies before receiving 60 months of
          guaranteed payments, the Member's Beneficiary will receive the
          Commuted Value of the remainder of these 60 payments.

                                     -21-

<PAGE>

     (b)  Life guaranteed 10 years

          Under the life guaranteed 10 years form of pension, the Member
          receives equal monthly installments of pension payable for life with
          the guarantee that, if the Member dies before receiving 120 months of
          guaranteed payments, the Member's Beneficiary will receive the
          Commuted Value of the remainder of these 120 payments.

     (c)  100% joint and survivor pension

          Under the 100% joint and survivor form of pension, the Member receives
          equal monthly installments of pension payable for life and, after the
          Member's death, the monthly pension continues without reduction to the
          Member's Spouse or former Spouse for life.

     (d)  Level income option

          Under the level income form of pension, the Member receives increased
          amounts of monthly pension until age 65 and a reduced pension
          thereafter, in order to provide a reasonably level pension income from
          the pension plan, OAS and CPP/QPP throughout retirement.

7.05 ADJUSTED PENSION PAYABLE ON OPTIONAL FORMS

     The optional form of pension benefit elected by the Member, as described in
     subsection 7.04 shall be the Actuarial Equivalent of the normal form of
     pension payable according to subsection 7.02.

7.06 DATE OF PENSION PAYMENTS

     The pension shall be paid in equal monthly installments with the first
     installment due on the first day of the month in which the Member retires
     and the last installment due on the first day of the month in which the
     death of the Member, Spouse, or Beneficiary occurs, as applicable, or the
     date the guarantee period expires, if later.

                                      -22-

<PAGE>

7.07 NO CHANGE IN FORM OF PENSION

     No change can be made in the form of pension chosen by a retired Member
     after the first pension payment has been made to him.

7.08 BENEFIT PURCHASED AT RETIREMENT

     At normal, early, or postponed retirement, the Member's pension will
     normally be payable from the Pension Fund. However, the Company may direct
     that the pension be purchased from an insurance company licensed to
     transact business in Canada, by a single premium which is sufficient to
     provide the lifetime pension for the Member, as determined in subsection
     6.01, 6.02, or 6.03.

                                      -23-

<PAGE>

SECTION 8 - TERMINATION BENEFITS

8.01 TERMINATION BENEFITS

     A Member who terminates employment with the Company after completing 2
     years of Continuous Service is entitled to receive a deferred pension in
     the amount accrued or granted to him under subsection 6.01.

8.02 EARLY COMMENCEMENT OF DEFERRED PENSION

     A Member who terminates employment with the Company before attaining age 55
     and who is entitled to receive a deferred pension under Section 8 may elect
     to commence receiving this pension on the first day of any month on or
     following the attainment of age 55 and prior to his Normal Retirement Date.
     The amount of this pension will be the Actuarial Equivalent of the deferred
     pension otherwise commencing on his Normal Retirement Date.

     Notwithstanding the above, the reduction for early retirement described
     above will be at least equal to the reduction described in paragraph
     8503(3)(c) of the Regulations to the Income Tax Act.

8.03 TRANSFER OF VALUE OF DEFERRED PENSION

     (a)  A Member who terminates Continuous Service with the Company before
          attaining age 55, and is entitled to a deferred pension under the
          provisions of subsection 8.01, may elect to have the Commuted Value of
          the deferred pension:

          (i)   transferred to another pension plan, provided that the
                administrator of that pension plan agrees to accept the
                transfer, or

          (ii)  transferred to a locked-in retirement account as prescribed in
                the Pension Benefits Act.

          This election must be made within 30 days of receipt of the Member's
          pension statement provided as a result of the Member's termination.

                                      -24-

<PAGE>

     (b)  The Company shall not permit a transfer or purchase under subsection
          8.03(a) unless the Company is satisfied that:

          (i)   the transfer or purchase is in accordance with the Pension
                Benefits Act,

          (ii)  the transfer complies with the requirements of the Income Tax
                Act, and

          (iii) the Plan has been accepted for registration under the Income Tax
                Act.

     (c)  Amounts transferred in accordance with subsection 8.03(a)(i) to a
          defined contribution provision of a pension plan and amounts
          transferred in accordance with subsection 8.03(a)(ii) on and after
          January 1, 1989 shall not exceed the maximum amount prescribed under
          the Income Tax Act, and the excess of the Commuted Value, if any, over
          the amount transferred shall be paid to the Member as a benefit, as
          permitted by the Income Tax Act and the Pension Benefits Act.

8.04 SMALL BENEFIT COMMUTATION

     If the annual pension payable at the Member's Normal Retirement Date or its
     Commuted Value is not more than 4% of the YMPE in the year of the Member's
     retirement, payable in the normal form indicated in subsection 7.02, the
     Member shall receive a lump-sum payment equal to the Commuted Value of his
     pension or deferred pension in full discharge of all obligations under the
     Plan.

                                      -25-

<PAGE>

SECTION 9 - DEATH BENEFITS

9.01 DEATH BENEFIT

     (a)  Death benefit amount

          If a Member dies before pension commencement but after completing 2
          years of Continuous Service, a death benefit is payable in an amount
          equal to the Commuted Value of the Member's pension accrued to him
          under subsection 6.01.

     (b)  Death benefit payable to spouse

          The death benefit as determined in subsection 9.01(a) must be paid to
          the Member's Spouse. The Spouse may elect that the death benefit be
          paid in either of the following forms:

          (i)  an immediate or deferred annuity payable for the Spouse's
               lifetime which can be provided by the death benefit amount, or

          (ii) transfer the death benefit amount to another registered pension
               plan, a locked-in retirement account, or a life income fund as
               prescribed in the Pension Benefits Act. The election to transfer
               the death benefit amount under this Section must be made within
               30 days of receiving the statement provided as a result of the
               Member's death.

          The annuity payable for the Spouse's lifetime, as may be provided by
          the death benefit amount determined in subsection 9.01(a), may
          commence at any time prior to the December 1 of the calendar year in
          which the Spouse attains age 69.

     (c)  Death benefit payable to non-spouse beneficiary

          If the Member does not have a Spouse at the date of death, the death
          benefit payable under subsection 9.01(a) is payable in a lump sum to
          the Member's Beneficiary.

                                      -26-

<PAGE>

9.02 DEATH BENEFIT AFTER COMMENCEMENT OF PENSION

     Any death benefit payable upon the death of a Member who has commenced to
     receive his pension is determined in accordance with the form of the
     pension being paid to the Member pursuant to Section 7.

9.03 TIMING OF DEATH BENEFIT PAYMENT

     Any death benefit payable upon the death of the Member shall be paid as
     soon as practicable after the death of the Member.

                                      -27-

<PAGE>

SECTION 10 - DESIGNATION OF BENEFICIARY

10.01 DESIGNATION OF BENEFICIARY

     Subject to the requirements of the Pension Benefits Act, a Member may
     designate, by written notice delivered to the Company, a Beneficiary to
     receive any benefits payable on the death of the member to the Member's
     Beneficiary. A Member may revoke or amend such designation in the same
     manner at any time before the commencement of his pension subject to any
     applicable laws governing the designation of beneficiaries.

10.02 NO BENEFICIARY

     If a Member fails to validly designate a Beneficiary, or if a designated
     Beneficiary predeceases the Member or dies before payment of the death
     benefit, any benefits payable on the Member's death shall be paid to his
     Spouse or in the absence of a Spouse, in a lump sum to the estate of the
     Member.

10.03 DEATH OF BENEFICIARY

     If a Beneficiary, as a result of a Member's death, is entitled to payments
     under a form of benefit with a guaranteed number of payments, and if the
     Beneficiary dies before receiving all of the guaranteed number of payments,
     the Commuted Value of the remainder of the guaranteed payments will be paid
     in a lump sum to the estate of the Beneficiary.

                                      -28-

<PAGE>

SECTION 11 - ADMINISTRATION

11.01 RESPONSIBILITY FOR ADMINISTRATION

     The administrator of the Plan shall be the Company which shall be
     responsible for all matters relating to the administration of the Plan and
     may delegate such matters as it deems appropriate to be performed by one or
     more agents. The Company shall decide conclusively all matters relating to
     the operation, interpretation, and application of the Plan.

11.02 RULES FOR ADMINISTRATION

     The Company may enact rules and regulations relating to the administration
     of the Plan to carry out the terms hereof and may amend such rules and
     regulations from time to time. Such rules and regulations shall not
     conflict with any provisions of the Plan.

11.03 PLAN SUMMARY

     The Company shall provide each Employee with a written explanation of the
     terms and conditions of the Plan and amendments thereto applicable to him,
     together with an explanation of the rights and duties of the Employee with
     reference to the benefits available to him under the terms of the Plan.

11.04 NOTICE OF AMENDMENT

     The Company shall provide a notice and written explanation of an amendment
     to the Plan to each Member, or other persons entitled to payment from the
     Pension Benefits Act.

11.05 ANNUAL STATEMENT

     The Company shall provide annually to each active Member a written
     statement containing the information prescribed under the Pension Benefits
     Act in respect of the Member's benefits under the Plan.

                                      -29-

<PAGE>

11.06 STATEMENT ON TERMINATION OF EMPLOYMENT OR MEMBERSHIP

     When a Member of the Plan terminates employment or otherwise ceases to be a
     Member, the Company shall give to the Member, or to any other person who
     becomes entitled to a benefit under the Plan, a written statement setting
     out the information prescribed under the Pension Benefits Act in respect of
     the benefits of the Member or other person.

11.07 INSPECTION OF DOCUMENTS

     The Company shall make available for inspection by eligible individuals,
     the documents and information concerning the Plan and the Pension Fund as
     prescribed under the Pension Benefits Act.

                                      -30-

<PAGE>

SECTION 12 - PENSION FUND

12.01 PENSION FUND ADMINISTRATION

     The Pension Fund shall be administered by the Funding Agent in accordance
     with the Funding Agreement.

12.02 EXPENSES

     All normal or reasonable expenses incurred in the operation of the Plan
     shall be paid from the Pension Fund unless such expenses are paid by the
     Company.

12.03 INVESTMENTS

     The Company shall direct the investment of the Pension Fund in accordance
     with the provisions of the Pension Benefits Act and the Income Tax Act.

12.04 ONGOING SURPLUS

     Subject to receiving the prior consent of the Pension Commission of
     Manitoba, if at any time while the Plan continues in existence, the Actuary
     certifies that the assets of the Pension Fund exceed its liabilities (such
     excess referred to hereafter as the "surplus"), the Company may receive a
     refund of that part of the surplus which is in excess of 2 years, regular
     Company payments for current service provided that all initial unfunded
     liabilities and experience deficiencies have been eliminated.

                                      -31-

<PAGE>

SECTION 13 - FUTURE OF THE PLAN

13.01 CONTINUATION OF THE PLAN

     The Company intends to maintain the Plan indefinitely, but reserves the
     right to amend or discontinue the Plan either in whole or in part.

13.02 AMENDMENT TO THE PLAN

     No amendment shall operate to reduce the pension benefits which have
     accrued to any Member before the date of such amendment, based on Credited
     Service at the date of retirement.

     Where an amendment results in a certifiable past service pension adjustment
     (as defined under the Income Tax Act) in respect of a Member, the amendment
     shall not apply to such Member prior to certification of the past service
     pension adjustment in accordance with the Income Tax Act.

13.03 TERMINATION OF THE PLAN

     (a)  If the Plan is wound up in whole or in part, the assets of the Pension
          Fund shall first be allocated for provision of benefits in accordance
          with the terms of the Plan, and in accordance with the terms of the
          Pension Benefits Act, the Income Tax Act, and the rules and
          regulations of Canada Customs and Revenue Agency, and any other
          applicable legislation.

     (b)  If the Plan is wound up in whole or in part, the Company shall not
          make further contributions to the Pension Fund in respect of the Plan
          or the portion of the Plan being wound up, as the case may be, except
          for amounts due or that have accrued up to the effective date of the
          wind-up and have not been paid into the Pension Fund as required by
          the Plan and the Pension Benefits Act.

     (c)  If the Plan is wound up in whole or in part and the assets in the
          Pension Fund are not sufficient to pay all the benefits under the
          Plan, or the portion of the Plan being wound up, as the case may be,
          the benefits shall be reduced in the manner prescribed by the Pension
          Benefits Act.

                                      -32-

<PAGE>

13.04 WIND-UP SURPLUS

     If after provision for benefits payable to or in respect of Members on the
     wind-up in whole or in part of the Plan, the assets of the Pension Fund
     exceed its liabilities (such excess referred to hereafter as "surplus"),
     such surplus shall be refunded to the Company, or used as the Company may
     direct, provided, that:

     (a)  the Company obtains the prior written approval of the Pension
          Commission of Manitoba, and, if necessary, the approval of Canada
          Customs and Revenue Agency, and otherwise complies with the
          requirements of the Pension Benefits Act, the Income Tax Act, and the
          rules and regulations of Canada Customs and Revenue Agency, and

     (b)  if such surplus is used to provide benefits to or in respect of a
          Member that are in addition to benefits defined under the Plan, the
          Member's total benefit shall not exceed the maximum benefit permitted
          to be paid under subsection 6.05, and the portion of such surplus that
          is not used to provide benefits shall be refunded to the Company.

                                      -33-

<PAGE>

SECTION 14 - GENERAL PROVISIONS

14.01 NON-ALIENATION

     Except as specified in Section 15, money payable under the Plan is subject
     to the following restrictions:

     (a)  Non-enforceable transactions

          Any transaction that purports to assign, charge, anticipate,
          surrender, or give as security any right of a person under the Plan,
          or money payable under the Plan, shall not be enforceable against the
          Plan, and

     (b)  Exemption from seizure

          Money payable under the Plan is exempt from execution, seizure, or
          attachment.

     Notwithstanding the foregoing provisions of this subsection 14.01, the Plan
     will comply with a garnishing order obtained under Section 14 of the
     Garnishment Act of Manitoba or similar Act of Manitoba or another province
     to enforce a maintenance order against a Member of the Plan. The amount to
     be paid out and the reduction in the Member's pension benefit credit will
     be determined as prescribed under the Pension Benefits Act.

14.02 NON-COMMUTATION OF PENSIONS

     A pension or deferred pension payable under this Plan shall not be capable
     of being commuted, except as follows:

     (a)  as permitted under subsection 6.04,

     (b)  as permitted under subsection 8.04, or

     (c)  as permitted under subsection 10.03, or

     (d)  as permitted in accordance with the Pension Benefits Act in the event
          that the life expectancy of the Member is likely to be considerably
          shortened by reason of his mental or physical disability, or

                                      -34-

<PAGE>

     (e)  as permitted under Section 15.

14.03 NO RIGHT TO EMPLOYMENT

     The Plan shall not be construed to create or enlarge any right of any
     person to remain in the employment of the Company, nor shall it interfere
     in any manner with the right of the Company to discharge any person.

14.04 NO RIGHT TO COMPANY CONTRIBUTIONS

     Contributions made by the Company shall not constitute an enlargement of
     the amount of any benefit defined in the Plan and shall not at any time
     create for any person other than the Company any right, title, or interest
     in the assets of the Company or the Pension Fund, except as specifically
     provided in the Pension Benefits Act.

14.05 INFORMATION TO BE PROVIDED BEFORE COMPANY PAYS BENEFITS

     Payment of benefits shall not be made until the person entitled to payment
     of the benefit delivers to the Company:

     (a)  satisfactory proof of age of the person and other persons who may
          become entitled to payment of the pension and such other information
          as may be required to calculate and pay the benefit, and

     (b)  if the benefit is payable to a Member or Spouse, a signed declaration
          of marital status.

14.06 COMPANY RECORDS

     Wherever the records of the Company are used for the purposes of the Plan,
     such records shall be conclusive of the facts with which they are
     concerned, unless and until they are proven to be in error.

                                      -35-

<PAGE>

14.07 SEVERABILITY

     If any provision of the Plan is held to be invalid or unenforceable by a
     court of competent jurisdiction, its invalidity or unenforceability shall
     not affect any other provision of the Plan and the Plan shall be construed
     and enforced as if such provision had not be included therein.

14.08 CAPTIONS AND HEADINGS

     The captions, headings, and table of contents of this Plan are included for
     convenience of reference only and shall not be used in interpreting the
     provisions of the Plan.

14.09 CONSTRUCTION

     (a)  The Plan is intended to constitute an employee's pension plan
          qualified for registration under the Income Tax Act and the Pension
          Benefits Act.

     (b)  Any provision of the Funding Agreement that is inconsistent with the
          terms of the Plan shall, to the extent of the inconsistency, be of no
          force or effect.

     (c)  The Plan shall be governed and construed in accordance with the laws
          of the Province of Manitoba.

                                      -36-

<PAGE>

SECTION 15 - MARRIAGE BREAKDOWN

15.01 SPLITTING OF PENSION ENTITLEMENT

     Where an order of the court or separation agreement exists respecting the
     division of family assets, on the breakdown of the marriage or common-law
     relationship of a Member residing in Manitoba, notwithstanding such court
     order or agreement, the value of the Member's pension entitlement which
     accumulated during the period of marriage or common-law relationship shall
     be split equally as prescribed in the Pension Benefits Act, unless the
     special provisions of subsections 15.09 or 15.10 apply.

     The Company must be provided with a copy of the court order or written
     agreement as referenced in Section 31(2) of the Pension Benefits Act.

     This Section shall apply only in cases where the Member and his Spouse
     began living separate and apart after December 31, 1983.

15.02 COMMON-LAW PARTIES - OPTING IN

     Subsection 15.01 does not apply in the case of a Member and his Spouse who
     are parties to a common-law relationship unless the Member makes and
     executes a written declaration, in the form prescribed in the Pension
     Benefits Act:

     (a)  identifying the other party and showing that the other party is his or
          her Spouse within the meaning of the definition of that term in
          subsection 2.23,

     (b)  specifying the commencement date of the common-law relationship, and

     (c)  stating that subsection 15.01 shall apply to the Member's benefits in
          this Plan.

                                      -37-

<PAGE>

15.03 TERMINATION DATE OF COMMON-LAW RELATIONSHIP

     For the purposes of this Section 15, a common-law relationship is
     considered to be terminated on a date specified as the termination date in
     a written declaration, in the form prescribed therefore in the Pension
     Benefits Act, or in a written agreement, made and executed or entered into
     by both parties to the common-law relationship, or where the parties are
     unable to agree, on a date determined by a court of competent jurisdiction
     on the application of the parties or either of them.

15.04 TERMINATION CALCULATION

     The value of a Member's pension entitlement divisible pursuant to
     subsection 15.01 shall be calculated according to Section 8 as if the
     Member had terminated employment on the date the parties to a legal
     marriage began living separate and apart, and in respect of a common-law
     relationship, the date specified in subsection 15.03 that the relationship
     has been terminated.

15.05 VALUE OF SPLIT PENSION

     The value of any pension, required pursuant to subsection 15.04, shall be
     the Commuted Value calculated as of the date referred to in subsection
     15.03.

15.06 SPOUSE MUST TRANSFER

     The Member's Spouse must transfer the value of her portion of the Member's
     pension entitlement to another registered pension plan, a life income fund,
     or a locked-in retirement account which meets the specifications required
     by the Pension Benefits Act.

15.07 SPLIT AFTER PENSION COMMENCEMENT

     On the breakdown of a marriage or common-law relationship as per subsection
     15.01 after a Member has received a pension payment, then the Spouse shall
     be entitled to one-half of the remaining pension, which has accrued during
     the period of marriage or common-law relationship. Such pension shall be
     split and paid separately to the Spouse.

                                      -38-

<PAGE>

15.08 REMAINING ENTITLEMENT

     Upon subsequent termination, death, or retirement of a Member whose pension
     entitlement has been split pursuant to this Section, all provisions of the
     Plan shall apply except one-half of the amount of any pension which has
     been valued and split pursuant to this Section shall be deducted from any
     pension entitlement the Member otherwise would have had.

15.09 OPTING OUT FROM SPLITTING

     The splitting of the Member's pension entitlement as described in
     subsection 15.01 does not apply where both the Member and his Spouse have
     each received:

     (a)  independent legal advice, and

     (b)  a statement from the administrator of the pension plan showing the
          Commuted Value of the pension benefit credit in the pension plan, or
          the amount of the payments under the pension plan, to which each would
          be entitled if subsection 15.01 remained applicable, and

     enter into a written agreement with each other to the effect that the
     pension benefit credit or the pension payments, as the case may be, shall
     not be divided between them. Such written agreement must be in the
     prescribed form and acceptable under the Pension Benefits Act.

15.10 SPLIT OF DIFFERENCE IN PENSION

     Where both the Member and his Spouse are members of pension plans and both
     the Member and his Spouse agree in writing, the division of the pension
     benefit credits or the payments due under this Section may be determined by
     an equal division of the net difference between the larger pension benefit
     credit or payments due and the smaller pension benefit credit or payments
     due and that division shall apply only in respect of that portion of the
     pension benefit credit and payments due that accrued from the date that, as
     the case may be, the marriage or common-law relationship began.

                                      -39-
<PAGE>
APPENDIX A

Appendix A lists the union employees of Mandak Metal Processors that previously
accrued pension benefits on a money purchase basis under the Prior Plan. It
depicts each Member's Account accumulated with interest effective July 31, 1998:

<TABLE>
<CAPTION>
                                       Member        Employer        Voluntary
Name                               Contributions   Contributions   Contributions
----                               -------------   -------------   -------------
<S>                                  <C>             <C>             <C>
Swiderski, D.                        $3,697.02       $3,601.39       $      --
Hawes, C.                             3,243.39        3,160.35              --
Curic, J.                             3,055.47        2,974.69              --
Gigolyk, J.                           2,709.79        2,633.15              --
McDonald, W.                          4,185.02        4,074.90              --
Waterman, B.                          3,445.38        3,352.16              --
Hrabi, B.                             2,378.94        2,307.35              --
Lam, T.                               4,068.50        3,958.84              --
Gislason, R.                          4,224.95        4,113.16              --
Dunning, S.                           3,516.80        5,298.53              --
Whitwell, T.                          4,316.86        4,204.55              --
Homeniuk, R.                          4,489.71        4,372.53              --
Fey, B.                               4,123.89        4,013.97              --
Bresoline, J.                         3,532.65        3,441.96        9,263.16
Andrusko, G.                          2,469.15        2,397.39              --
Thorsteinson, P.                      2,697.35        2,623.21        2,109.77
Lavallee, D.                          4,162.13        4,142.96              --
Bow, A.                               4,252.81        4,141.87        4,138.40
Cook, A.                              3,942.75        3,842.48              --
Hunnie, C.                            4,615.97        4,500.56              --
Darker, C.                            3,784.31        3,683.04              --
Little, G.                            4,170.36        4,060.96              --
Monkman, R.                           3,860.89        3,758.42              --
Michaud, F.                           2,113.18        2,050.47              --
Single, D.                            2,074.97        2,074.97              --
Klatt, D.                             2,135.54        2,058.21              --
Melsted, A.                           1,952.62        1,952.62              --
Lischinski, C.                        1,889.65        1,889.65              --
Sprong, R.                            1,678.15        1,678.15              --
Grant, G.                             2,468.38        2,396.85              --
Swiderski, R.                         1,549.04        1,549.04              --
Waterman, T.                          1,872.09        1,872.09              --
</TABLE>

                                      -40-

<PAGE>

<TABLE>
<CAPTION>
                                       Member        Employer        Voluntary
Name                               Contributions   Contributions   Contributions
----                               -------------   -------------   -------------
<S>                                  <C>             <C>             <C>
Noakes, J.                           $1,893.93       $1,893.93       $1,105.58
Hebert, R.                              661.41          661.41              --
Kitchen, M.                           1,426.49        1,426.49              --
Berman, K.                              778.02          778.02              --
Still, R.                               944.59          944.59              --
Craig, E.                               341.35          341.35              --
Dubois, H.                              527.04          527.04              --
Yanisiw, W.                             976.98          976.98              --
Gorda, A.                               557.47          557.47              --
MacDonald, B.                           335.89          335.89              --
Bannish, H.                             276.56          276.56              --
Hilton, L.                              571.91          571.91              --
Hunter, S.                              280.94          280.94              --
Vennard, W.                             419.77          419.77              --
Koben, D.                               438.64          438.64              --
Augustowich, D.                         161.15          161.15              --
Nordin, J.                              146.49          146.49              --
Rowen, C.                               164.25          164.25              --
Murphy, L.                              428.86          428.86              --
Hykawy, M.                              159.27          159.27              --
McLeod, B.                              262.41          262.41              --
Dunning, K.                             124.82          124.82              --
Read, P.                                 35.56           35.56              --
Miller, E.                               42.32           42.32              --
Grimolfson, C.                        2,339.80        2,277.89              --
Peeters, J.                              27.48           27.48              --
</TABLE>

                                      -41-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00045-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00045-of-00352.parquet"}]]