Exhibit 10.15


 


Canada and All Non-US Locations: 10/10
Compensation Arrangement


 


OVERVIEW


 


Ritchie Bros. Auctioneers Incorporated (“Ritchie Bros.”)
has adopted the program set forth herein pursuant to which certain senior-level employees of Ritchie Bros. or its subsidiaries
(as applicable, the “Employer”) may contribute up to 10% of their received annual base salary into eligible
long-term investment vehicles and, upon the approval of the Director, Global Total Rewards (the “Director”),
the Employer will match such contributions, less any matching contributions made to retirement plans, in cash on a dollar-for-dollar
basis to be paid directly to such employees during the next applicable pay period, subject to all applicable statutory deductions
(the “10-10 Compensation Arrangement”).


 


GUIDELINES


 


The following are the general guidelines pertaining to the 10-10
Compensation Arrangement:


 


		1.	All employees of Ritchie Bros. and its subsidiaries at or above the Vice-President level that are selected by the Employer
are eligible to participate in the 10-10 Compensation Arrangement (“Participants”). Participants can begin
to contribute to the 10-10 Compensation Arrangement on the first day of employment. Participation in the 10-10 Compensation Arrangement
is voluntary and Participants must decide how much money they wish to contribute.



 


		2.	Participants can participate in the 10-10 Compensation Arrangement at any time during the calendar year by providing the Director
with evidence of an investment having been made in an eligible long-term investment vehicle.



 


		3.	Ritchie Bros.’ matching contribution shall be based on the amount actually invested by the Participant and shall be capped
at 10% of the Participant’s received annual base salary for that calendar year (the “Maximum Contribution Amount”).
Ritchie Bros.’ matching contribution of 10% is a combined maximum for both the 10-10 Compensation Arrangement and any retirement
saving program to which Ritchie Bros. contributes up to a maximum of 10% of the employee’s base earnings.



 


		4.	All or any portion of a Participant’s Maximum Contribution Amount not used during any calendar year shall not carry forward
to subsequent years.



 


		5.	Ritchie Bros. reserves the right to amend the 10-10 Compensation Arrangement, but in no event shall any such amendment reduce
or otherwise adversely affect any Participant’s benefits acquired prior to such amendment unless it is required to maintain
compliance with any law, regulation or administrative ruling. While Ritchie Bros. expects to continue the 10-10 Compensation Arrangement
indefinitely, it shall not be under any obligation or liability to continue matching contributions or to maintain the 10-10 Compensation
Arrangement for any length of time. Ritchie Bros. may terminate the 10-10 Compensation Arrangement at any time by appropriate action
of its management team.



 




     


     

    

 


ELIGIBLE INVESTMENTS 


 


The goal of the 10-10 Compensation Arrangement is to provide
Participants with a certain level of flexibility with respect to their desired long-term investment vehicle. As such, the Director
has the discretion to decide whether or not a particular investment qualifies. Common examples of an eligible investment vehicle
include the following:


 


		1.	Payments made on an investment property that is not the primary residence of the Participant or lump sum payments made on a
property that is the primary residence of the Eligible Participant.



 


		2.	Investments made in securities listed on a recognized stock exchange or recognized mutual fund.



 


		3.	Any investment that is long-term in nature.



 


Ritchie Bros. securities are not an eligible investment under
the 10-10 Compensation Arrangement. Participants who wish to make an investment under the 10-10 Compensation Arrangement in a long-term
investment vehicle not listed above should check with the Director before making any such investment in order to confirm whether
or not it would qualify.


 


A decision by Ritchie Bros. to pay any or all of a Participant’s
Maximum Contribution Amount under the 10-10 Compensation Arrangement in respect of an investment made by the Participant is not
to be considered an endorsement of such investment from a financial or tax perspective. Participants are encouraged to seek out
investment and tax advice in respect of any proposed investment.


 


DOCUMENTATION REQUIRED


 


In order to receive any or all of the applicable Maximum Contribution
Amount, Participants must provide the Director with adequate documentary evidence showing that they have made an investment in
an eligible long-term investment vehicle. The Director has the discretion to determine whether the documentary evidence provided
by a Participant is sufficient. Common examples of documentary evidence include: (i) mortgage and related documents evidencing
a Participant’s primary residence and investment property; and (ii) a letter/statement provided by an authorized broker or
Investment Advisor evidencing a stock or mutual fund purchase by the Participant.