Exhibit 10.4


 


RITCHIE BROS. AUCTIONEERS INCORPORATED 


 


(the “Company”)


 


AMENDED AND
RESTATED EXECUTIVE LONG TERM INCENTIVE PLAN 


 


		1.	Commencement of the Plan 



 


This Executive Long Term Incentive Plan (the “Plan”)
commenced on September 30, 2004 and was amended and restated with effect from February 24, 2009 and February 24, 2011 and was further
amended and restated with effect from January 23, 2013. The purpose of the Plan is to encourage eligible employees to invest in
common shares of the Company (“Common Shares”).


 


		2.	Eligibility



 


Any senior officers or senior employees of the Company or any
subsidiary of the Company (as such term is defined in the Securities Act (British Columbia)) as from time to time (anticipated
to be at least annually) specified by the Board of Directors of the Company (or the Compensation Committee thereof if so delegated)
(“Board of Directors”) as an eligible person for the purpose of this Plan shall be eligible to become a participant
of the Plan (“Eligible Person”).


 


		3.	Enrolment



 


In order to become a participant of the Plan (a “Participant”),
an Eligible Person must sign a participation form and other necessary documents as required by the Company (the “Participation
Documentation”). Each Eligible Person who wants to participate in a particular year must execute and deliver the Participation
Documentation to the Company on or before the 5th Business Day following receipt of notification of their performance bonus in
the particular fiscal year in accordance with section 6 hereof. Participation Documentation is available from the Corporate Secretary
of the Company. As part of the Participation Documentation, a Participant can specify that all Common Shares held by the Administrator
(as defined below) for him under the Plan shall be held in a joint account for him and his spouse, as joint tenants and if such
specification is made, the Participant and the Participant’s spouse shall both sign the Participation Documentation and be
bound by the terms and conditions of this Plan.


 


		4.	Compliance with Share Ownership Guideline



 


In order to align the interests of the Participants with those
of the shareholders of the Company, the Company has adopted a share ownership guideline (the “Share Ownership Guideline”)
as follows:


 


		(a)	Each Participant who is a member of the Company’s Senior Leadership Team (“SLT”)
or a Senior Vice President (collectively, “Senior Vice President or above”) shall be required to accumulate
ownership of Common Shares which are held by the Administrator with a minimum Share Value equal to three (3) times such person’s
relevant base salary from time to time; and



 


		(b)	Each Participant who is a Vice-President (or equivalent) of the Company shall be required to accumulate
ownership of Common Shares which are held by the Administrator with a minimum Share Value equal to two (2) times such person’s
relevant base salary from time to time; and



 



     


     


    

 


For the purpose of this provision, “Share Value”
shall be determined by aggregating (i) all acquisition costs of the Common Shares acquired directly and held by the Administrator
for the benefit of the Participant; and (ii) the deemed acquisition costs of any Common Shares acquired by the Participant outside
this Plan and transferred to the Administrator and held in accordance with section 5 of this Plan, as determined based on the closing
price of the Common Shares on the New York Stock Exchange on the date of transfer of such Common Shares to the Administrator.


 


For the purpose of this provision, the “relevant base
salary” shall be the base salary of the Participant as of February 1 of the particular year.


 


For all Participants whose relevant base salaries are denominated
in a currency other than United States dollars, the exchange rate to be used for all translation purposes under the Plan shall
be the average applicable U.S. dollar to foreign currency exchange rate for the immediate previous fiscal year.


 


An Eligible Person who has not yet met the applicable Share
Ownership Guideline as of February 1 in a particular year may either (a) participate in the Plan in accordance with section 6 of
this Plan or (b) not participate in the Plan.


 


		5.	Transfer of Shares to Administrator



 


For the purpose of satisfying the Share Ownership Guideline,
a Participant may, but shall not be required to, transfer Common Shares owned or controlled by him outside the Plan (the “Transferred
Shares”) to the Administrator to be held pursuant to the terms, conditions and restrictions provided hereunder. From
the date when the Transferred Shares are held by the Administrator, such shares shall be counted towards the satisfaction of the
Share Ownership Guideline for that Participant.


 


		6.	Participant’s Contributions



 


		(a)	Designation
                                         of Contribution. Subject to the provisions of subparagraph 6(b) and section 7 hereunder,
                                         each Participant shall designate in the Participation Documentation for each particular
                                         year commencing prior to January 1, 2014 the amount of his contribution under the Plan
                                         for the particular year (“Contribution”).





 


		(b)	Minimum
                                         and Maximum Designation. For any Participant who is not in compliance with the Company’s
                                         Share Ownership Guideline as of February 1 in a particular year commencing prior to January
                                         1, 2014, such Participant shall designate as their Contribution for that year an amount
                                         equal to at minimum the lesser of:



 


		(i)	50% of their ELTIP Entitlement under this Plan for the particular year;



 


		(ii)	50% of their short-term incentive bonus for the particular
year; and 



 




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		(iii)	the amount required for the Participant to be in compliance with the Share Ownership Guideline;



 


subject to a maximum of the ELTIP Target Entitlement
in accordance with section 7 hereunder.


 


For the purpose of this provision, the “Roll
Forward Entitlement” means the difference between the ELTIP Entitlement amount under section 7 for a Participant in the immediately
preceding year and the actual Contribution made by that Participant for that immediately preceding year.


 


For greater certainty, in the event that there is
no ELTIP Entitlement in accordance with this Plan in a particular year, a Participant is not required to make a Contribution, regardless
of their compliance with the Company’s Share Ownership Guideline. In addition, a Participant is not required to make a Contribution
that exceeds their short term incentive bonus for a particular year, regardless of their compliance with the Company’s Share
Ownership Guideline. In either case, a Participant may designate a Contribution at their option in that year, subject to the maximums
outlined above.


 


		(c)	No Contributions After 2013. Participants shall not designate or make any Contributions in any year commencing after
December 31, 2014. Participants shall not designate or make any Contributions in any year commencing after December 31, 2013, except
that, notwithstanding the foregoing, if a Participant has a Roll Forward Entitlement in the year ending December 31, 2013 as a
result of the Participant’s Contribution for the year ending December 31, 2013 being less than the Participant’s ELTIP
Entitlement under section 7 in that year, the Participant shall be entitled to designate and make a Contribution in 2014 in an
amount not exceeding the Participant’s Roll Forward Entitlement in respect of the year ending December 31, 2013.



 


		7.	ELTIP Entitlement 



 


Each Participant shall be entitled in respect of each year following
the commencement of the Plan until December 31, 2012 to an amount (the “ELTIP Entitlement”) equal to A x (B
/ 20%), where “A” is equal to the target ELTIP entitlement amount approved by the Board at the start of each year for
each Participant (the “ELTIP Target Entitlement”), and where “B” is equal to the Return in aggregate
for 12 quarters immediately preceding the date of determination divided by the Average Invested Capital in aggregate for 12 quarters
immediately preceding the date of the determination, subject to a maximum of 20%. “Return” for the purpose of
this provision means net income before interest and income taxes for a quarter, normalized for unusual gains or losses similar
to adjustments made to the target income for the MAC Short Term Incentive Bonus Plan. “Average Invested Capital”
for the purpose of this provision means average Total Shareholders’ Equity during a quarter plus average Long Term Debt outstanding
during that quarter. The ELTIP Entitlement so calculated in respect of any year shall be the Participant’s ELTIP Entitlement
for the purposes of Contributions in the following year. For example, the ELTIP Entitlement calculated in respect of the year ended
December 31, 2012 shall be the Participant’s ELTIP Entitlement for 2013 in respect of which Participants may make Contributions
in 2013.


 



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No Participant shall be entitled to any further ELTIP Entitlement
in respect of any year after the year ended December 31, 2012.


 


		8.	ELTIP Award



 


Subject to subparagraphs 13(b) and 13(c) hereunder, for each
year that a Participant makes a Contribution, the Company shall pay to such Participant an ELTIP award amount (the “ELTIP
Award”) in cash equal to the lesser of :


 


		(a)	the amount of such Participant’s Contribution for that year; and



 


		(b)	the amount of such Participant’s ELTIP Entitlement
for that year plus their Roll Forward Entitlement.



 


Such ELTIP Award shall
be paid by the Company to the Participants at the same time as when the annual short term incentive bonuses are customarily paid,
subject to all necessary withholding taxes and other source deductions.


 


For greater certainty, since, as is provided in section
6, there will be no Contributions made by any Participant after the year ending December 31, 2013, there will be no ELTIP Awards
paid by the Corporation for any year after the year ending December 31, 2013 other than, in the circumstances described in section
6(c), if a Participant has a Roll Forward Entitlement in the year ending December 31, 2013 and makes a Contribution in 2014, the
Company shall pay to such Participant an ELTIP Award in cash equal to the amount of such Participant’s Contribution for
that year.


 


		9.	The Administrator and Establishment of Participants’ Accounts 



 


		(a)	The Administrator. The administrator of the Plan will be Canadian Western Trust (the “Administrator”).
The Company may change the Administrator to any other person at any time.



 


		(b)	Establishment of Accounts. The Administrator shall establish and maintain:



 


		(i)	an individual securities account or accounts (in case where subparagraph 13(b) applies) (a “Personal Securities Account”)
for each Participant to record the number of Common Shares of the Company and other assets held by the Administrator on behalf
of the Participant (showing year of acquisition, costs and other relevant details); and



 


		(ii)	an individual cash account (a “Personal Cash Account”) for each Participant to record cash received from
or on behalf of and distributed out to or on behalf of each Participant by the Administrator from time to time under this Plan.



 




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		10.	Use of Contributions 



 


A Participant’s Contribution in a particular year shall
be paid by the Participant to the Administrator as soon as practicable (and in any event within two Business Days (as defined below)
after receipt of the Participant’s short term incentive bonus in that year) and the Administrator shall apply such Contribution
pursuant to the Participation Documentation towards the acquisition of Common Shares in the manner provided below during the Price
Determination Period (as defined below).


 


The Price Determination Period (the “Price
Determination Period”) for a particular year shall commence on the first day of the first trading window of that
fiscal year under the Company’s Policy regarding Securities Trades by Company Personnel (“Insider Trading
Policy”) that remains open for at least 5 days on which the New York Stock Exchange is open for trading
(“Business Days”) (which is usually the 4th Business Day following the day when the Company issues the
press release relating to the results of the immediately preceding fiscal year). The Price Determination Period shall end on
the last day of the first trading window for that year under the Company’s Insider Trading Policy that remains open for
at least 5 Business Days (the “Price Determination End Day”), which is usually the 11th Business Day prior
to the first quarter end of the Company in that year. For the purpose of this Plan, the Board of Directors shall have the
absolute authority to determine and confirm the exact commencement and end dates of the Price Determination Period for a
particular year and such determination and confirmation shall be final and conclusive.


 


The Administrator shall use the Participant’s Contribution
in a particular year to purchase Common Shares during the Price Determination Period on the New York Stock Exchange and such purchases
are made by the Administrator as agent for and on behalf of the Participants. The Administrator shall have sole discretion over
the timing and quantum of individual trades needed to accumulate the shares necessary to invest the combined Contributions of all
Participants for the relevant year towards purchase of Common Shares. The Administrator will, to the extent reasonably practicable,
attempt to make the purchases in a manner that does not disrupt the orderly market for the Common Shares. The Administrator may
in its discretion choose to have the Common Shares purchased under this Plan registered in the name of the Canadian Depository
for Securities Ltd.


 


		11.	Allocation of Common Shares to Personal Securities Accounts



 


Each year, following the full application of all Participants’
Contributions in purchasing Common Shares, the Administrator shall allocate the Common Shares acquired each day during the Price
Determination Period by allocating and crediting to the Personal Securities Accounts of each of the Participants, the number of
Common Shares that is equal to the product of (a) the quotient obtained by dividing such Participant’s aggregate Contribution
for that year by the sum of the Contributions of all Participants for that year, and (b) the total number of Common Shares purchased
by the Administrator on that day (partial share to be rounded at the Administrator’s sole discretion).


 



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Payment for such Common Shares will be made by the Administrator
using Contributions received from the Participants pursuant to section 10 above. Subject to following the provisions relating to
allocation under this section, the Administrator shall have absolute discretion in allocating the Common Shares acquired under
this Plan among the Participants, notwithstanding that the Common Shares subject to allocation may have different acquisition costs
and the allocation by the Administrator of such Common Shares shall be final and binding on all Participants unless there are manifest
calculation errors. The Administrator shall record the number of Common Shares so purchased and allocated, the cost base and the
date of acquisition in such Participant’s Personal Securities Account. The Administrator shall hold all Common Shares and
other assets recorded in the Participants’ Personal Securities Account and Personal Cash Account in accordance with and subject
to the terms and conditions of this Plan.


 


		12.	Dividends and Distributions



 


All cash dividends and distributions on the Common Shares held
by the Administrator on behalf of the Participants shall be credited to such Participants’ Personal Cash Account and all
non-cash dividends or distributions on the Common Shares held by the Administrator on behalf of each of the Participants shall
be credited to such Participants’ Personal Securities Account. All cash or other distributions received and held by the Administrator
and credited to the Participant’s Personal Cash Account or Personal Securities Account shall be paid or transferred to the
Participants by the Administrator as soon as practicable after receipt of the same in accordance with the Administrator’s
records, subject to deduction or satisfaction of any applicable withholding tax as determined to be necessary in the sole discretion
of the Administrator.


 


		13.	Share Withdrawal



 


		(a)	Notice of Withdrawal. Subject to the provisions hereunder, a Participant (or his legal representative) may elect to
make withdrawals from his or her Personal Securities Account and receive all or part of the Common Shares in his or her Personal
Securities Account at the end of any month by providing at least one month’s notice to the Company’s Corporate Secretary
in the prescribed form as from time to time specified by the Administrator and delivered in accordance with section 27 hereunder
(the “Withdrawal Election”), provided that at least one of the following conditions is satisfied:



 


		(i)	the Participant has for any reason (including but not limited to resignation, death or termination for cause) ceased to be
an employee of the Company or its subsidiaries; or



 


		(ii)	the Participant is 55 years old or more and the Participant beneficially owns Common Shares held by the Administrator under
this Plan with a Share Value that exceeds the requirements of the Share Ownership Guideline, in which case such excess may be withdrawn,
subject to the provisions of subparagraph 13(d) hereunder; or



 


		(iii)	the Chief Executive Officer and Chairman of the Compensation Committee have approved such withdrawal by a Participant, whether
for extreme hardship or otherwise.



 



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		(b)	In the event of withdrawal pursuant to subparagraph 13(a)(ii), all subsequent Contributions made by that Participant, to the
extent permitted hereunder, shall be used to purchase Common Shares to be held by the Administrator under a separate account and
no withdrawal shall be permitted from that account until the occurrence of events under subparagraph 13(a)(i) or 13(a)(iii).



 


		(c)	In the event that a Participant elects to withdraw Common Shares under the condition set out in subparagraph 13(a)(iii) above,
the Participant’s eligibility to receive any additional ELTIP Award from the Company for any future year shall, subject to
section 7, be determined pursuant to the terms and conditions as may be specified by the Chief Executive Officer and Chairman of
the Compensation Committee. For greater certainty, as specified in section 7, no Participant shall be entitled to any further ELTIP
Award after December 31, 2013.



 


		(d)	In the event that a Participant elects to withdraw Common Shares under the condition set out in subparagraph 13(a)(ii), the
number of Common Shares that the Participant shall be entitled to withdraw at any time shall be equal to the following:



 


	 	A x (B – 55 + 1) x 20% – C
	 	 
	 	Where:	 
	 	 	 
	 	A	=	the number of Common Shares held by the Administrator for the Participant as recorded in his Personal Securities Account at the time when the Participant makes the first withdrawal election;
	 	 	 	 
	 	B	=	age (in whole number, no rounding up) of the Participant at the time of the current withdrawal;
	 	 	 	 
	 	C	=	the number of Common Shares previously withdrawn under the Plan in accordance with subparagraph 13(a)(ii).




 


In no event shall a withdrawal
be allowed if such withdrawal will result in a breach of the requirements of the Share Ownership Guideline.


 


		(e)	Withdrawal Election - Personal Securities Account. No Participant shall be entitled to elect to make a Withdrawal
Election more than once in a calendar year unless specifically approved in writing by the Chief Executive Officer and Chairman
of the Compensation Committee. Upon receipt of a valid Withdrawal Election, the Administrator and the Company will cause to be
issued a share certificate representing the number of whole Common Shares in the Participant’s Personal Securities Account
specified in the Withdrawal Election registered in the name of the Participant or as otherwise directed by the Participant and
shall deliver such certificate to the Participant at an address specified in the Withdrawal Election. Alternatively, if a Participant
specifies in the Withdrawal Election that the Common Shares withdrawn shall be issued to a depository agent for his account, the
Company will cause such Common Shares to be issued in accordance with such instructions on the Withdrawal Election and evidence
of such issuance shall constitute full discharge of the obligations of the Company to the Participant under this section.



 



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		14.	Termination of Employment



 


		(a)	Unless specified otherwise in writing by the Chief Executive Officer and the Chairman of the Compensation Committee, if a Participant
ceases to work as an active employee of the Company or its subsidiaries (other than for death, disability or leave of absence provided
for below), including but not limited to, resignation, termination or retirement, the Participant shall be deemed to have ceased
to be a Participant in the Plan effective from the date when the Participant ceases to report to work at the Company or its subsidiaries
(the “Cessation Date”). Upon receipt of notification from the Company that such cessation occurs and if the
Administrator does not receive a Participant’s Withdrawal Election pursuant to section 13, the Administrator shall within
a reasonable time send to the Participant a share certificate registered in the Participant’s name representing all Common
Shares recorded in the Participant’s Personal Securities Account and any other cash or assets recorded in the Participant’s
Personal Cash Account, all as of the Cessation Date. If a Participant’s Withdrawal Election pursuant to section 13 is received
by the Administrator from such Participant within 30 days of the Cessation Date, the Administrator shall carry out the instructions
contained therein within 10 Business Days of receipt of same and transfers shall be made to that Participant or as he directs within
10 Business Days.



 


		(b)	Settlement in the manner provided in subparagraph 14(a) shall serve as full discharge of all obligations of the Company and
the Administrator to a Participant under the Plan.



 


		15.	Death of a Participant



 


If a Participant should die during any period of employment,
subject to requirements of applicable law (as determined by the Company), the beneficiary designated by a Participant in the Participation
Documentation or the estate of the deceased Participant, as the case may be, shall be entitled to receive all Common Shares, assets
and cash recorded in the Participant’s Personal Securities Account and Personal Cash Account, respectively. A married Participant’s
designation of a non-spouse beneficiary shall be effective only to the extent that the Participation Documentation includes the
spouse’s consent to such designation, in a form acceptable to the Company, where such consent is required by applicable law.
Nothing herein shall require the Company or the Administrator to transfer any Common Shares or assets in a Participant’s
Personal Securities Account or Personal Cash Account to any person if in the sole opinion of the Company, such transfer may be
in breach of applicable laws or would result in liabilities to the Company.


 


		16.	Disability or Leave of Absence



 


In the event that a Participant becomes disabled or takes a
leave of absence, whether that Participant may continue his participation or whether such participation under the Plan will be
suspended or terminated shall be at the discretion of the Chief Executive Officer and the Chairman of the Compensation Committee.


 



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		17.	Plan Administrator Duties



 


No amendment, change or modification shall be made to the Plan
which will, without the Administrator’s written consent, alter the duties of the Administrator under the Plan.


 


		18.	Administrator and Costs



 


The Company shall appoint the Administrator and shall enter
into an agreement with such Administrator as the Company deems appropriate. The Administrator shall not be liable to any Participant
for any loss resulting from a decline in the market value of any securities held by the Administrator on behalf of the Participants
under this Plan. The Company shall be responsible for all costs and administration fees relating to the design, set up, implementation
and administration of this Plan.


 


		19.	Conclusive Records



 


The Administrator shall keep or cause to be kept such records
and open and maintain accounts in the names of the Participants as may be necessary or appropriate for the efficient and effective
administration of the Plan. Records of the Administrator and the Company shall be conclusive as to all matters involved in the
administration of the Plan.


 


		20.	Account Statements



 


Each Participant shall receive a statement of account detailing
all transactions recorded in the Participant’s Personal Securities Account and Personal Cash Account by the Administrator
semi-annually as at June 30 and December 31 of each year. The Administrator shall issue to all Participants, on a timely basis,
the income tax reporting information which is required by applicable tax legislation. A tax form reflecting investment income shall
be sent annually to each Participant.


 


		21.	Reports to Participants and Voting



 


The Administrator and the Company will arrange for each Participant
to receive all communications provided to shareholders of the Company, including notices of meetings of holders of Common Shares.
The same shall apply for the Allowed Securities. A Participant may vote by proxy at a meeting of shareholders of the Company in
respect to those Common Shares held on his behalf by the Administrator in his Personal Securities Account at the record date for
such meeting and the Administrator shall arrange for appropriate proxies to be executed and delivered to the Participant or the
Company to effect this.


 


For any offer, proposal or arrangement made in respect of the
Common Shares or the Allowed Securities, the Administrator shall send to the Participants all notices, information circulars and
other documents received by it relating thereto and shall seek and carry out the instructions from the Participant in relation
thereto, except that if any such instruction involves the withdrawal of Common Shares from the Participant’s Personal Securities
Account, the provisions under this Plan including but not limited to section 13, will apply and such instructions will be carried
out to the extent consistent therewith.


 



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		22.	Change or Termination of the Plan



 


The terms of the Plan are subject to various regulatory and
other approvals, consents or requirements as may be applicable from time to time. Accordingly, the Plan may be amended or suspended
to comply with such approvals, consents or requirements without prior consultation or approval from the Participants. While the
Company has every intention of continuing the Plan, the Board of Directors may at any time, subject to regulatory approval and
applicable laws, amend or discontinue the Plan in any manner it deems advisable. If the Plan is discontinued, Common Shares and
cash held by the Administrator on behalf of each Participant in the Participant’s Personal Securities Account and Personal
Cash Account shall be distributed to each Participant as if termination of each Participants’ employment had occurred.


 


		23.	No Entitlement



 


This Plan and participation in this Plan will not give any Participant
any right or claim to any benefit except to the extent specifically provided for in the Plan and for clarification purpose, this
Plan and participation therein does not confer on any Participant any right or entitlement to any bonus payment from the Company.
Annual performance and other bonuses for the Company’s senior officers and senior employees have always been and are expected
to continue to be determined or approved at the discretion of the Board of Directors.


 


		24.	Applicable Law



 


The Plan shall be governed, construed and administered in accordance
with the laws of the Province of British Columbia.


 


		25.	Assignment and Enurement



 


		(a)	Any benefits payable under the terms of this Plan are for the Participant’s own use and benefit, are not capable of assignment,
alienation or surrender without the prior written consent of the Company or as provided for under this Plan, and do not confer
upon any Participant, his beneficiary, personal representative, dependent, or any other person, any right or interest in the benefits,
if any, capable of being assigned, surrendered, or otherwise alienated.



 


		(b)	The rights and obligations of the Company, the Administrator and the Participants pursuant to this Plan shall be binding upon
and shall enure to the benefit of each Company, the Administrator and the Participants, respectively, and each of their permitted
successor and assigns. The rights and obligations of the Administrator and the Participants under this Plan may not be assigned
without the consent of the Company. The rights and obligations of the Administrator and the Participants under this Plan may be
assigned by the Company to a successor in the business of the Company or to a corporation with which the Company may amalgamate
or merge or a corporation resulting from any reconstruction or reorganization of the Company.



 




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		26.	Severability and Extended Meaning



 


If any provisions of this Plan or the application thereof to
any person or circumstances shall be invalid or unenforceable to any extent, the remainder of the Plan and the application of such
provisions to other persons or circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted
by law. In this Plan, words importing the singular number only include the plural and vice versa and words importing any gender
include all genders.


 


		27.	Notice



 


Any Withdrawal Election or any other notice to be given by the
Company, the Administrator or any Participant shall be in writing signed by an authorized signatory of the party giving the notice.
Any such notice shall be addressed to the relevant party at its address set out below or at such other address as may be notified
from time to time in accordance with section 27 and delivered or sent by facsimile to such party:


 


		(a)	If to the Company:



 


9500 Glenlyon Parkway 


Burnaby, BC, Canada 


V5J 0C6


 


Facsimile: 778.331.5500


 


Attention: Corporate Secretary


 


		(b)	If to the Administrator:



 


Suite 2200, 666 Burrard Street


Vancouver,
British Columbia


V6C 2X8


 


Facsimile: 604-669-6069 


Attention: Managing Director,
Fiduciary Operations and Risk Management


 


		(c)	If to a Participant:



 


As set out in the Participation Documentation.


 


Any such notice shall be deemed to have been received at the
time of delivery, or time of sending if by facsimile (provided complete transmission is confirmed), provided that any delivery
made or facsimile shall be deemed to have been received at 9:00 a.m. (Vancouver time) on the next following Business Day. Any
facsimile shall be followed by a delivery of the same document by hand, courier or by mail, provided that notice shall be deemed
to have been validly sent by facsimile notwithstanding inadvertent failure to deliver the same document by hand, courier or mail.


 



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