Document:

Exhibit 10.29

 

EMPLOYMENT AGREEMENT

 

Between:

 

RANDY WALL

 

(the “Executive”)

 

And:

 

RITCHIE BROS. AUCTIONEERS (CANADA) LTD.,

a corporation incorporated under the laws
of Canada

 

(the “Employer”)

WHEREAS:

 

A.   The Employer, its parent, and
the other subsidiaries is in the business of facilitating the exchange, buying, selling and auctioneering of industrial equipment;
and

 

B.   The Employer
and the Executive wish to enter into an employment relationship on the terms and conditions as described in this Agreement;

 

NOW THEREFORE THIS AGREEMENT WITNESSES
THAT in consideration of the mutual covenants and agreements herein contained, and for other good and valuable consideration,
the sufficiency of which is hereby acknowledged by both parties, the Employer and the Executive agree as follows:

 

		1.	EMPLOYMENT

 

		a.	The Employer agrees to employ the Executive pursuant to the terms and conditions described in this Agreement, including the
appendices to this Agreement, and the Executive hereby accepts and agrees to such employment. Unless otherwise defined, the defined
terms in this Agreement will have the same meaning in the appendices hereto.

 

		b.	The Executive will be employed in the position of President,
                                         Canada, and shall perform and assume such duties and responsibilities as may be assigned
                                         by the Employer from time to time.

 

		c.	The Executive's employment with the Employer in this new role
                                         will commence on January 1, 2015 (the “Commencement Date”), and the
                                         Executive's employment hereunder will continue for an indefinite period of time until
                                         terminated in accordance with the terms of this Agreement or applicable law (the “Term”).

 

		d.	During the Term, the Executive will at all times:

 

		i.	well and faithfully serve the Employer, and act honestly and in good faith in the best interests of the Employer;

 

		ii.	devote all of the Executive's business time, attention and abilities, and provide his best efforts, expertise, skills and talents,
to the business of the Employer, except as provided in Section 2(b);

 

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		iii.	adhere to all generally applicable written policies of the Employer, and obey and observe to the best of the Executive's abilities
all lawful orders and directives, whether verbal or written, of the Board;

 

		iv.	act lawfully and professionally, and exercise the degree of care, diligence and skill that an executive employee would exercise
in comparable circumstances; and

 

		v.	to the best of the Executive's abilities perform the duties and exercise the responsibilities required of the Executive under
this Agreement.

 

		2.	PRIOR COMMITMENTS AND OUTSIDE ACTIVITIES

 

		a.	The Executive represents and warrants to the Employer that the Executive has no existing common law, contractual or statutory
obligations to his former employer or to any other person that will conflict with the Executive's duties and responsibilities under
this Agreement.

 

		b.	During the term of this Agreement, the Executive will not be engaged directly or indirectly in any outside business activities,
whether for profit or not-for-profit, as principal, partner, director, officer, active shareholder, advisor, employee or otherwise,
without first having obtained the written permission of the Employer.

 

		3.	POLICIES

 

		a.	The Executive agrees to comply with all generally applicable written policies applying to the Employer's staff that may reasonably
be issued by the Employer from time to time. The Executive agrees that the introduction, amendment and administration of such generally
applicable written policies are within the sole discretion of the Employer. If the Employer introduces, amends or deletes such
generally applicable written policies, such introduction, deletion or amendment will not constitute a constructive dismissal or
breach of this Agreement. If there is a direct conflict between this Agreement and any such policy, this Agreement will prevail
to the extent of the inconsistency.

 

		4.	COMPENSATION

 

		a.	Upon the Commencement Date, and continuing during the Term, the Executive will earn the following
annual compensation, less applicable statutory and regular payroll deductions and withholdings:

 

	Compensation	 	
	Element	 	$CDN
	 	 	 
	Annual Base Salary	 	$350,000 (the
    “Base Salary”)
	 	 	 
	Annual Short-Term	 	65% of Base Salary
    at Target (the “STI Bonus”)
	Incentive	 	(0% - 200% of Base Salary based on actual performance)
	 	 	 
	Annual Long-Term	 	100% of Base Salary
    at Target (the “LTI Grant”)
	Incentive Grant	 	 

 

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The Employer shall review the Executive's compensation
package for increase no less frequently than annually, starting in 2016.

 

		b.	The structure of the STI Bonus and LTI Grant will be consistent with those granted to the RBA Pubco's other executives, and
is subject to amendments from time to time by the Employer. Currently, LTI grants for executives are provided as follows:

 

		i.	33% in stock options, with a ten-year term, with all such options vesting in equal one-third parts after the first, second
and third anniversaries of the grant date;

 

		ii.	33% in restricted share units, with cliff vesting on the third anniversary of the grant date.

 

		iii.	33% in performance share units, vesting on the third anniversary of the grant date based on meeting pre-established performance
criteria (currently based on EBITDA and ROIC targets), with the number of share units that ultimately vest ranging from 0% to 200%
of target based on actual performance.

 

		c.	The specific terms and conditions for LTI Grants (including but not limited to the provisions upon termination of employment)
will be based on the relevant plan documents and may be subject to amendments from time to time by RBA Pubco.

 

		d.	Notwithstanding any other provisions in this Agreement to the contrary, the Executive will be subject to any clawback/recoupment
policy of the Employer in effect from time-to-time, allowing the recovery of incentive compensation previously paid or payable
to the Executive in cases of misconduct or material financial restatement, whether pursuant to the requirements of Dodd-Frank Wall
Street Reform and the Consumer Protection Act, the listing requirements of any national securities exchange on which common
stock of RBA Pubco is listed, or otherwise.

 

		e.	In the event of a restatement of the financial results of Ritchie Bros. Auctioneers Incorporated (“RBA Pubco”)
(other than due to a change in applicable accounting rules or interpretations), the Board of Directors of RBA Pubco (the “Board”)
shall determine whether any performance-based compensation (pursuant to both short-term and long-term incentive compensation plans)
paid or awarded to the Executive during the three years preceding such restatement (the “Awarded Compensation”), would
have been a lower amount had it been calculated based on such restated financial statement (such lower amount being referred to
herein as the “Adjusted Compensation”). If the Board determines that the Awarded Compensation exceeds the Adjusted
Compensation, then the Board may demand from the Executive the recovery of any excess of the Awarded Compensation over the Adjusted
Compensation, and the Executive shall immediately forfeit and/or repay, as applicable, any such amount.

 

		5.	BENEFITS

 

		a.	The Executive will be eligible to participate in the Employer's Canadian group benefit plans, subject to the terms and conditions
of said plans and the applicable policies of the Employer and applicable benefits providers.

 

		b.	The liability of the Employer with respect to the Executive's employment benefits is limited to the premiums or portions of
the premiums the Employer regularly pays on behalf of the Executive in connection with said employee benefits. The Executive agrees
that the Employer is not, and will not be deemed to be, the insurer and, for greater certainty, the Executive will not be liable
for any decision of a third-party benefits provider or insurer, including any decision to deny coverage or any other decision that
affects the Executive's benefits or insurance.

 

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		c.	The Executive will be provided with a car in accordance with the Employer's standard practice and purchase limits.

 

		6.	EXPENSES

 

		a.	The Employer will reimburse the Executive, in accordance with the Employer's policies, for all authorized travel and other
out-of-pocket expenses actually and properly incurred by the Executive in the course of carrying out the Executive's duties and
responsibilities under this Agreement.

 

		7.	HOURS OF WORK AND OVERTIME

 

		a.	Given the management nature of the Executive's position, the Executive is required to work additional hours from time to time,
and is not eligible for overtime pay. The Executive acknowledges and agrees that the compensation provided under this Agreement
represents full compensation for all of the Executive's working hours and services, including overtime.

 

		8.	VACATION

 

		a.	The Executive will earn up to four (4) weeks (or twenty (20) business days) of paid vacation per annum, pro-rated for any partial
year of employment.

 

		b.	The Executive will take his vacation subject to business needs, and in accordance with the Employer's vacation policy in effect
from time to time.

 

		c.	Annual vacation must be taken and may not be accrued, deferred or banked without the Employer's written approval.

 

		9.	TERMINATION OF EMPLOYMENT

 

		a.	Termination for cause: The Employer may terminate the Executive's employment at any time for Cause, after
                                                              providing Executive with at least 30 days' notice of such proposed termination and 15 days to remedy the alleged defect. In
                                                              this Agreement, “Cause” means the wilful and continued failure by the Executive to substantially perform, or
                                                              otherwise properly carry out, the Executive's duties on behalf of RBA Pubco or an affiliate, or to follow, in any material
                                                              respect, the lawful policies, procedures, instructions or directions of the Employer or any applicable affiliate (other than
                                                              any such failure resulting from the Executive's disability or incapacity due to physical or mental illness), or the Executive
                                                              wilfully or intentionally engaging in illegal or fraudulent conduct, financial impropriety, intentional dishonesty, breach of
                                                              duty of loyalty or any similar intentional act which is materially injurious RBA Pubco or an affiliate, or which may have the
                                                              effect of materially injuring the reputation, business or business relationships of the Employer or an affiliate, or any
                                                              other act or omission constituting cause for termination of employment without notice or pay in lieu of notice at common
                                                              law. For the purposes of this definition, no act, or failure to act, on the part of the Executive shall be considered
                                                              “wilful” unless done, or omitted to be done, by the Executive in bad faith and without reasonable belief that the
                                                              Executive's action or omissions were in, or not opposed to, the best interests of the Employer and its affiliates.

 

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In the event of termination for Cause, all unvested
stock options granted to the Executive pursuant to the terms of the REA Pubco's Stock Option Plan (the “Option Plan”)
will immediately be void on the date the Employer notifies the Executive of such termination. The Executive will have 30 days from
the date of termination to exercise any options which have vested prior to the date of termination, subject to the terms and conditions
of the Option Plan and the applicable individual option agreements.

 

In the event of termination for Cause, the rights
of the Executive with respect to any performance share units (“PSUs”) and restricted share units (“RSUs”)
granted pursuant to the RBA Pubco's Performance Share Unit Plan (the “PSU Plan”) and Restricted Share Unit Plan (the
“RSU Plan”), respectively, and pursuant to any and all PSU and RSU grant agreements, respectively, will be governed
pursuant to the PSU Plan and RSU Plan, respectively.

 

		b.	Termination for Good Reason: The Executive may terminate his employment with the Employer for Good Reason by delivery
of written notice to the Employer within the sixty (60) day period commencing upon the occurrence of Good Reason including the
basis for such Good Reason (with such termination effective thirty (30) days after such written notice is delivered to the Employer
and only in the event that the Employer fails or is unable to cure such Good Reason within such thirty (30) day period). In the
event of a termination of the Executive's employment for Good Reason, the Executive will receive pay and benefits as if terminated
by the Employer without Cause under Section 9 c., below, and the termination shall be regarded as a termination without Cause for
purposes of the Option Plan, the PSU Plan, and the RSU Plan. In this Agreement, “Good Reason” means a material
adverse change by RBA Pubco or an affiliate, without the Executive's consent, to the Executive's position, authority, duties, responsibilities,
Executive's place of residence, Base Salary or the potential short-term or long-term incentive bonus the Executive is eligible
to earn, but does not include (1) a change in the Executive's duties and/or responsibilities arising from a change in the scope
or nature of RBA Pubco's business operations, provided such change does not adversely affect the Executive's position or authority
or (2) a change across the board affecting similar executives in a similar fashion.

 

		c.	Termination without Cause: The Employer may terminate the Executive's employment at any time, without Cause by providing
the Executive with the following:

 

		i.	eighteen (18) months' Base Salary plus eighteen (18) months' at-target STI Bonus;

 

		ii.	continuation of all applicable PSU and RSU rights held by the Executive in accordance with the applicable PSU and RSU grant
agreements, and the terms and conditions of the respective PSU Plan and RSU Plan;

 

		iii.	immediate accelerated vesting of all unvested stock options, with the Executive having 90 days from the date of termination
to exercise such options, subject to the terms and conditions of the Option Plan and the applicable individual option agreements;
and

 

		iv.	continued extended health and dental benefits coverage at active employee rates until the earlier of the first anniversary
of the termination of the Executive's employment or the date on which the Executive begins new full-time employment, or paying
for such period of time the Employer's share of the costs of such benefits.

 

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		d.	Resignation: The Executive may terminate his employment with the Employer at any time by providing the Employer with
three (3) months' notice in writing to that effect. If the Executive provides the Employer with written notice under this Section,
the Employer may waive such notice, in whole or in part, in which case the Employer will pay the Executive the Base Salary only
for the amount of time remaining in that notice period and the Executive's employment will terminate on the earlier date specified
by the Employer without any further compensation.

 

In the event of termination by the Executive as provided
in this section, all unvested stock options held by the Executive will immediately be void on the termination date of the Executive's
employment, with the Executive having 90 days from said date to exercise any vested stock options held by the Executive. The rights
of the Executive with respect to any PSUs or RSUs will be as set forth in the PSU Plan and RSU Plan with respect to termination
by the Executive.

 

		e.	Retirement: In the event of the Executive's retirement, as defined by the Employer's policies, all unvested stock options
will continue to vest according to their initial grant schedules and will remain exercisable up to the earlier of the original
grant expiry date and the third anniversary of the date of retirement.

 

RSUs and PSUs will continue to vest and be paid in
accordance with the original grant schedule applicable thereto.

 

		f.	Deductions and withholdings: All payments under this Section are subject to applicable statutory and regular payroll
deductions and withholdings as applicable.

 

		g.	Terms of Payment upon Termination: Upon termination of the Executive's employment, for any reason:

 

		i.	Subject to Section 9 d. and except as limited by Section 9 g. (ii), the Employer will pay the Executive all earned and unpaid
Base Salary, earned and unpaid vacation pay, earned and unpaid STI for a preceding year (if any remains unpaid), and a prorated
STI Bonus for the year of termination, up to and including the Executive's last day of active employment with the Employer (the
“Termination Date”), with such payment to be made within five (5) business days of the Termination Date.

 

		ii.	In the event of resignation by the Executive or termination of the Executive's employment for Cause, no STI Bonus for the year
of termination will be payable to the Executive; and

 

		iii.	On the Termination Date, or as otherwise directed by the Board, the Executive will immediately deliver to the Employer all
files, computer disks, Confidential Information, information and documents pertaining to the Employer's Business, and all other
property of the Employer that is in the Executive' s possession or control, without making or retaining any copy, duplication or
reproduction of such files, computer disks, Confidential Information, information or documents without the Employer's express written
consent.

 

		h.	Other than as expressly provided herein, the Executive will not be entitled to receive any further pay or compensation,
                                                              severance pay, notice, payment in lieu of notice, incentives, bonuses, benefits, rights and damages of any kind. The
                                                              Executive acknowledges and agrees that, in the event of a payment under Section 9b. or Section 9 c. of this Agreement, the
                                                              Executive will not be entitled to any other payment in connection with the termination of the Executive's employment.

 

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		i.	Notwithstanding the foregoing, in the event of a termination
                                         without Cause or termination for Good Reason, the Employer will not be required to pay
                                         any Base Salary or STI Bonus to the Executive beyond that earned by the Executive up
                                         to and including the Termination Date, unless the Executive signs within sixty (60) days
                                         of the Termination Date and does not revoke a full and general release (the “Release”)
                                         of any and all claims that the Executive has against the Employer or its affiliates and
                                         such entities' past and then current officers, directors, owners, managers, members,
                                         agents and employees relating to all matters, in form and substance satisfactory to the
                                         Employer acting in good faith, provided, however, that the payment shall not occur prior
                                         to the effective date of the Release, provided further that if the maximum period during
                                         which Executive can consider and revoke the release begins in one calendar year and ends
                                         in another calendar year, then such payment shall not be made until the first payroll
                                         date occurring after the later of (A) the last day of the calendar year in which such
                                         period begins, and (B) the date on which the Release becomes effective.

 

		j.	Notwithstanding any changes in the terms and conditions of the Executive's employment which may occur in the future, including
any changes in position, duties or compensation, the termination provisions in this Agreement will continue to be in effect for
the duration of the Executive employment with the Employer unless otherwise amended in writing and signed by the Employer.

 

		k.	Agreement authorizing payroll deductions: If, on the
                                         date the employment relationship ends, regardless of the reason, the Executive owes the
                                         Employer any money (whether pursuant to an advance, overpayment, debt, error in payment,
                                         or any other reason), the Executive hereby authorizes the Employer to deduct any such
                                         debt amount from the Executive's salary, severance or any other payment due to the Executive
                                         (to the extent permissible by applicable law). Any remaining debt will be immediately
                                         payable to the Employer and the Executive agrees to satisfy such debt within 14 days
                                         of the Termination Date or any demand for repayment.

 

		10.	SHARE OWNERSHIP REQUIREMENTS

 

		a.	The Executive will be subject to the RBA Pubco’s share ownership guideline policy, as amended from time to time.

 

		11.	CONFIDENTIAL INFORMATION

 

		a.	In this Agreement “Confidential Information” means information proprietary to RBA Pubco or the Employer that is
not publically known or available, including but not limited to personnel information, customer information, supplier information,
contractor information, pricing information, financial information, marketing information, business opportunities, technology,
research and development, manufacturing and information relating to intellectual property, owned, licensed, or used by RBA Pubco
or the Employer or in which the Employer otherwise has an interest, and includes Confidential Information created by the Executive
in the course of his employment, jointly or alone. The Executive acknowledges that the Confidential Information is the exclusive
property of the Employer.

 

		b.	The Executive agrees at all times during the Term and after the Term, to hold the Confidential Information in strictest confidence
and not to disclose it to any person or entity without written authorization from the Employer and the Executive agrees not to
copy or remove it from the Employer’s premises except in pursuit of the Employer’s business, or to use or attempt to
use it for any purpose other than the performance of the Executive’s duties on behalf of the Employer.

 

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		c.	The Executive agrees, at all times during and after the Term, not use or take advantage of the Confidential Information for
creating, maintaining or marketing, or aiding in the creation, maintenance, marketing or selling, of any products and/or services
which are competitive with the products and services of RBA Pubco or the Employer.

 

		d.	Upon the request of the Employer, and in any event upon the termination of the Executive’s employment with the Employer,
the Executive will immediately return to the Employer all materials, including all copies in whatever form containing the Confidential
Information which are within the Executive’s possession or control.

 

		12.	INVENTIONS

 

		a.	In this Agreement, “Invention” means any invention, improvement, method, process, advertisement, concept, system,
apparatus, design or computer program or software, system or database.

 

		b.	The Executive acknowledges and agrees that every Invention which the Executive may, at any time during the terms of his employment
with the Employer or its affiliates, make, devise or conceive, individually or jointly with others, whether during the Employer’s
business hours or otherwise, and which relates in any manner to the Employer’s business will belong to, and be the exclusive
property of the Employer, and the Executive will make full and prompt disclosure to the Employer of every such Invention. The Executive
hereby irrevocably waives all moral rights that the Executive may have in every such Invention.

 

		c.	The Executive undertakes to, and hereby does, assign to the Employer, or its nominee, every such Invention and to execute all
assignments or other instruments and to do any other things necessary and proper to confirm the Employer’s right and title
in and to every such Invention. The Executive further undertakes to perform all
proper acts within his power necessary or desired by the Employer to obtain letters patent in the name of the Employer and at the
Employer’s expense for every such Invention in whatever countries the Employer may desire, without payment by the Employer
to the Executive of any royalty, license fee, price or additional compensation.

 

		d.	The Executive acknowledges that all original works of authorship which are made by the Executive (solely or jointly with others)
within the scope of the Executive’s employment and which are protectable by copyright are “works made for hire,”
pursuant to United States Copyright Act (17 U.S.C., Section 101).

 

		13.	NON-SOLICITATION

 

		a.	The Executive acknowledges that in the course of the Executive’s employment with the Employer the Executive will develop
close relationships with the Employer’s clients, customers and employees, and that the Employer’s goodwill depends
on the development and maintenance of such relationships. The Executive acknowledges that the preservation of the Employer’s
goodwill and the protection of its relationships with its customers and employees are proprietary rights that the Employer is entitled
to protect.

 

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		b.	The Executive will not during the Applicable Period, whether individually or in partnership or jointly or in conjunction with
any person or persons, as principal, agent, shareholder, director, officer, employee or in any other manner whatsoever:

 

		i.	solicit any client or customer of the Employer or an affiliate with whom the Executive dealt during the twelve (12) months
immediately prior to the termination of the Executive’s employment with the Employer (however caused) for the purposes of
(a) causing or trying to cause such client or customer to cease doing business with the Employer or to reduce such business with
the Employer or an affiliate by diverting it elsewhere or (b) providing products or services that are the same as or competitive
with the business of the Employer or an affiliate in the area of facilitating the exchange of industrial equipment; or

 

		ii.	seek in any way to solicit, engage, persuade or entice, or attempt to solicit, engage, persuade or entice any employee of the
Employer or an affiliate, to leave his or her employment with the Employer or affiliate,

 

The “Applicable Period” means
twelve (12) months following termination, regardless of the reason for such termination or the party effecting it.

 

		14.	NON-COMPETITION

 

The Executive agrees that,
without the prior written consent of the Employer, the Executive will not, directly or indirectly, in a capacity similar to
that of the Executive with the Employer, carry on, be engaged in, be concerned with or interested in, perform services for,
or be employed in a business which is the same as or competitive with the business of the Employer in the area of
facilitating the exchange of industrial equipment, or in the area of the buying, selling or auctioning of industrial
equipment, either individually or in partnership or jointly or in conjunction with any person as principal, agent, employee,
officer or shareholder. The foregoing restriction will be in effect for a period of twelve (12) months following the
termination of the Executive’s employment, regardless of the reason for such termination or the party effecting it,
within the geographical area of Canada and the United States.

 

		15.	REMEDIES FOR BREACH OF RESTRICTIVE COVENANTS

 

		a.	The Executive acknowledges that the restrictions contained in Sections 9 g. iii., 11, 12, 13 and 14 of this Agreement are,
in view of the nature of the Employer’s business, reasonable and necessary in order to protect the legitimate interests of
the Employer and that any violation of those Sections would result in irreparable injuries and harm to the Employer, and that damages
alone would be an inadequate remedy.

 

		b.	The Executive hereby agrees that the Employer will be entitled to the remedies of injunction, specific performance and other
equitable relief to prevent a breach or recurrence of a breach of this Agreement and that the Employer will be entitled to its
reasonable legal costs and expenses, including but not limited to its attorneys’ fees, incurred in properly enforcing a provision
of this Agreement.

 

		c.	Nothing contained herein will be construed as a waiver of any of the rights that the Employer may have for damages or otherwise.

 

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		d.	The Executive and the Employer expressly agree that the provisions of Sections 9 g. iii., 11, 12,13,14, and 21 of this Agreement
will survive the termination of the Executive’s employment for any reason.

 

		16.	GOVERNING LAW

 

This Agreement will be governed by the laws of the
Province of British Columbia.

 

		17.	SEVERABILITY

 

		a.	All sections, paragraphs and covenants contained in this Agreement are severable, and in the event that any of them will be
held to be invalid, unenforceable or void by a court of a competent jurisdiction, such sections, paragraphs or covenants will be
severed and the remainder of this Agreement will remain in full force and effect.

 

		18.	ENTIRE AGREEMENT

 

		a.	This Agreement, including the Appendices, and any other documents referenced herein, contains the complete agreement concerning
the Executive’s employment by the Employer and will, as of the date it is executed, supersede any and all other employment
agreements between the parties.

 

		b.	The parties agree that there are no other contracts or agreements between them, and that neither of them has made any representations,
including but not limited to negligent misrepresentations, to the other except such representations as are specifically set forth
in this Agreement, and that any statements or representations that may previously have been made by either of them to the other
have not been relied on in connection with the execution of this Agreement and are of no effect.

 

		c.	No waiver, amendment or modification of this Agreement or any covenant, condition or restriction herein contained will be valid
unless executed in writing by the party to be charged therewith, with the exception of those modifications expressly permitted
within this Agreement. Should the parties agree to waive, amend or modify any provision of this Agreement, such waiver, amendment
or modification will not affect the enforceability of any other provision of this Agreement. Notwithstanding the foregoing, the
Employer may unilaterally amend the provisions of Section 9 c. relating to provision of certain health benefits following termination
of employment to the extent the Employer deems necessary to avoid the imposition of excise taxes, penalties or similar charges
on the Employer or any of its Affiliates.

 

		19.	CONSIDERATION

 

		a.	The parties acknowledge and agree that this Agreement has been executed by each of them in consideration of the mutual premises
and covenants contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which is
acknowledged. The parties hereby waive any and all defenses relating to an alleged failure or lack of consideration in connection
with this Agreement.

 

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		20.	INTERPRETATION

 

Headings are included in this Agreement for convenience
of reference only and do not form part of this Agreement.

 

		21.	DISPUTE RESOLUTION

 

In the event of a dispute arising out of or in connection with
this Agreement, or in respect of any legal relationship associated with it or from it, which does not involve the Employer seeking
a court injunction or other injunctive or equitable relief to protect its business, confidential information or intellectual property,
that dispute will be resolved in strict confidence as follows:

 

		a.	Amicable Negotiation - The parties agree that, both during and after the performance of their responsibilities under this Agreement,
each of them will make bona fide efforts to resolve any disputes arising between them via amicable negotiations;

 

		b.	Arbitration - If the parties have been unable to resolve a dispute for more than 90 days, or such other period agreed to in
writing by the parties, either party may refer the dispute for final and binding arbitration by providing written notice to the
other party. If the parties cannot agree on an arbitrator within thirty (30) days of receipt of the notice to arbitrate, then either
party may make application to the British Columbia Arbitration and Mediation Society to appoint one. The arbitration will be held
in Vancouver, British Columbia, in accordance with the BCICAC’s Shorter Rules for Domestic Commercial Arbitration, and each
party will bear its own costs, including one-half share of the arbitrator’s fees.

 

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		22.	ENUREMENT

 

		a.	The provisions of this Agreement will enure to the benefit of and be binding upon the parties, their heirs, executors, personal
legal representatives and permitted assigns, and related companies.

 

		b.	This Agreement may be assigned by the Employer in its discretion, in which case the assignee shall become the Employer for
purposes of this Agreement. This Agreement will not be assigned by the Executive.

 

	Dated this 19 day of December, 2014.

 

	Signed, Sealed and Delivered by	 	)	 
	RANDY WALL in the	 	)	 
	presence of:	 	)	 
	 	 	)	 
	/s/ Cassidy Knowles	 	)	/s/ Randy
    Wall
	Name	 	)	RANDY WALL
	 	 	)	 
	347 20th Ave	 	)	 
	Address	 	)	 
	 	 	)	 
	Vancouver,
    BC V5V 1M4	 	)	 
	 	 	)	 
	 	 	)	 
	Executive Assistant	 	)	 
	Occupation	 	)	 

 

	RITCHIE BROS. AUCTIONEERS (CANADA) LTD.
	 
	Per:	/s/ Darren Watt	 
	 	Authorized Signatory	 

 

    	 	 	Page 12 of 12Exhibit 10.30

 

EMPLOYMENT AGREEMENT

 

Between:

 

JEROEN RIJK

 

(the “Executive”)

 

And:

 

RITCHIE BROS. SHARED SERVICES B.V.

a private company with limited liability
(besloten vennootschap met beperkte aansprakelijkheid), established under the laws of the Netherlands, having its statutory
seat at ’s-Gravenhage, the Netherlands, and its principal place of business at Concordiastraat 20, (4811 NB) Breda, the Netherlands

 

(the “Employer”)

 

WHEREAS:

 

A.   The Employer, its parent, and
the other subsidiaries is in the business of facilitating the exchange, buying, selling and auctioneering of industrial equipment;

 

B.   The Executive
has been employed by the Employer since January 23, 1995 on an indefinite term and he is currently employed in the position of
Senior Vice-President of Sales - Europe. The Executive will keep his seniority with the Employer since the original hire date of
January 23, 1995; and

 

C.   The Employer and the Executive
wish to enter into a modification of the employment relationship on the terms and conditions as described in this Agreement;

 

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in consideration
of the mutual covenants and agreements herein contained, and for other good and valuable consideration, the sufficiency of which
is hereby acknowledged by both parties, the Employer and the Executive agree as follows:

 

		1.	EMPLOYMENT

 

		a.	The Employer agrees to employ the Executive pursuant to the terms and conditions described in this Agreement, including the
appendices to this Agreement, and the Executive hereby accepts and agrees to such employment. Unless otherwise defined, the defined
terms in this Agreement will have the same meaning in the appendices hereto.

 

		b.	The
                                         Executive will be employed in the position of Senior Vice President and Managing Director,
                                         Europe, and shall perform and assume such duties and responsibilities as may be
                                         assigned by the Employer from time to time.

 

		c.	The Executive’s employment with the Employer will commence
                                         on January l, 2015 (the “Commencement Date”), and the Executive’s employment
                                         hereunder will continue for an indefinite period of time until terminated in accordance
                                         with the terms of this Agreement or applicable law (the “Term”).

 

		d.	During the Term, the Executive will at all times:

 

    Page 1 of 12

    	 

    

 

		i.	well and faithfully serve the Employer, and act honestly and in good faith in the best interests of the Employer;

 

		ii.	devote all of the Executive’s business time, attention and abilities, and provide his best efforts,
expertise, skills and talents, to the business of the Employer, except as provided in Section 2(b);

 

		iii.	adhere to all generally applicable written policies of the Employer, and obey and observe to the
best of the Executive’s abilities all lawful orders and directives, whether verbal or written, of the Board;

 

		iv.	act lawfully and professionally, and exercise the degree of care, diligence and skill that an
executive employee would exercise in comparable circumstances; and

 

		v.	to the best of the Executive’s abilities perform the duties and exercise the responsibilities required of the Executive under
this Agreement.

 

		2.	PRIOR COMMITMENTS AND OUTSIDE ACTIVITIES

 

		a.	The Executive represents and warrants to the Employer that
the Executive has no existing common law, contractual or statutory obligations to his former employer or to any other person that
will conflict with the Executive’s duties and responsibilities under this Agreement.

 

		b.	During the term of this Agreement, the Executive will not
be engaged directly or indirectly in any outside business activities, whether for profit or not-for-profit, as principal, partner,
director, officer, active shareholder, advisor, employee or otherwise, without first having obtained the written permission of
the Employer.

 

		3.	POLICIES

 

		a.	The Executive agrees to comply
with all generally applicable written policies applying to the Employer’s staff that may reasonably be issued by the Employer
from time to time. The Executive agrees that the introduction, amendment and administration of such generally applicable written
policies are within the sole discretion of the Employer. If the Employer introduces, amends or deletes such generally applicable
written policies, such introduction, deletion or amendment will not constitute a constructive dismissal or breach of this Agreement.
If there is a direct conflict between this Agreement and any such policy, this Agreement
will prevail to the extent of the inconsistency.

 

		4.	COMPENSATION

 

		a.	Upon the Commencement Date, and continuing during the Term,
the Executive will earn the following annual compensation, less applicable statutory and regular payroll deductions and withholdings:

 

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	Compensation	 	€EUR
	Element	 	 
	 	 	 
	Annual Base Gross Salary	 	€220.000,00 (the “Base
    Salary”)
	 	 	 
	Annual Short-Term	 	60% of Base Salary at Target (the
    “STI Bonus”)
	Incentive	 	(0% - 200% of target based on actual performance)
	 	 	 
	Annual Long-Term Incentive Grant	 	80% of Base Salary at Target (the
    “LTI Grant”)
	 	 	 

The Employer shall review the Executive’s compensation
package for increase no less frequently than annually.

 

		b.	The structure of the STI Bonus and LTI Grant will be consistent with those granted to the RBA Pubco’s other executives, and
is subject to amendments from time to time by the Employer. Currently, LTI grants for executives are provided as follows:

 

		i.	50% in stock options, with a ten-year term, with all such options vesting in equal one-third parts after the first, second
and third anniversaries of the grant date;

 

		ii.	50% in performance share units, vesting on the third anniversary of the grant date based on meeting pre-established performance
criteria, with the number of share units that ultimately vest ranging from 0% to 200% of target based on actual performance.

 

		c.	The specific terms and conditions for LTI Grants (including but not limited to the provisions upon termination of employment)
will be based on the relevant plan documents and may be subject to amendments from time to time by RBA Pubco.

 

		d.	Notwithstanding any other provisions in this Agreement to the contrary, the Executive will be subject to any clawback/recoupment
policy of the Employer in effect from time-to-time, allowing the recovery of incentive compensation previously paid or payable
to the Executive in cases of misconduct or material financial restatement, whether pursuant to the requirements of Dodd-Frank Wall
Street Reform and the Consumer Protection Act, the listing requirements of any national securities exchange on which common
stock of RBA Pubco is listed, or otherwise.

 

		e.	In the event of a restatement of the financial results of Ritchie Bros. Auctioneers Incorporated (“RBA Puce”) (other
than due to a change in applicable accounting rules or interpretations), the Board of Directors of RBA Pubco (the “Board”)
shall determine whether any performance-based compensation (pursuant to both short-term and long-term incentive compensation plans)
paid or awarded to the Executive during the three years preceding such restatement (the “Awarded Compensation”), would
have been a lower amount had it been calculated based on such restated financial statement (such lower amount being referred to
herein as the “Adjusted Compensation”). If the Board determines that the Awarded Compensation exceeds the Adjusted Compensation,
then the Board may demand from the Executive the recovery of any excess of the Awarded Compensation over the Adjusted Compensation,
and the Executive shall immediately forfeit and/or repay, as applicable, any such amouut.

 

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		5.	BENEFITS

 

		a.	The Executive will be eligible to participate in the Employer’s group benefit plans, subject to the terms and conditions of
said plans and the applicable policies of the Employer and applicable benefits providers.

 

		b.	The liability of the Employer with respect to the Executive’s employment benefits is limited to the premiums or portions of
the premiums the Employer regularly pays on behalf of the Executive in connection with said employee benefits. The Executive agrees
that the Employer is not, and will not be deemed to be, the insurer and, for greater certainty, the Employer will not be liable
for any decision of a third-party benefits provider or insurer, including any decision to deny coverage or any other decision that
affects the Executive’s benefits or insurance. Any tax consequences related to the Executive’s employment benefits are to be paid
by the Executive.

 

		c.	The Executive may participate in the Employer’s pension scheme taken out for statutory directors with Zwitserleven. By executing
this Agreement the Executive confirms his agreement with the contents of such pension scheme.

 

		d.	The Executive will be provided with a company car in accordance with the Employer’s standard practice
and purchase limits. Any tax consequences related to the Executive’s personal use of the company car are to be paid by the Executive.

 

		6.	RETIREMENT

 

		a.	The Executive’s Term of employment will in any event end by operation of law on the day which the Executive reaches the statutory
retirement age as mentioned in the General Old Age Pensions Act (Algemene Ouderdomswet).

 

		7.	EXPENSES

 

		a.	The Employer will reimburse the Executive, in accordance with the
Employer’s policies, for all authorized travel and other out-of-pocket expenses actually and properly incurred by the Executive
in the course of carrying out the Executive’s duties and responsibilities under this Agreement.

 

		8.	HOURS OF WORK AND OVERTIME

 

		a.	Given the management nature of the Executive’s position, the Executive is required to work additional hours from time to time,
and is not eligible for overtime pay. The Executive acknowledges and agrees that the compensation provided under this Agreement
represents full compensation for all of the Executive’s working hours and services, including overtime.

 

		9.	VACATION

 

		a.	The Executive will earn twenty-six (26) business days of paid vacation per annum, pro-rated for any partial year of employment.

 

		b.	The Executive will take his vacation subject to business needs, and in accordance with
                                                                the Employer’s vacation policy in effect from time to time.

  

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		c.	The Executive will take his annual vacation entitlement within the accrual year and any unused vacation days not taken by the
end of the accrual year will be treated in accordance to the local regulations.

 

		10.	TERMINATION OF EMPLOYMENT

 

		a.	Termination for cause: The Employer may terminate the
                                         Executive’s employment at any time for Cause, after providing Executive with at
                                         least 30 days’ notice of such proposed termination and 15 days to remedy the alleged
                                         defect. In this Agreement, “Cause” means the willful and continued failure
                                         by the Executive to substantially perform, or otherwise properly carry out, the Executive’s
                                         duties on behalf of RBA Pubco or an affiliate, or to follow, in any material respect,
                                         the lawful policies, procedures, instructions or directions of the Employer or any applicable
                                         affiliate (other than any such failure resulting from the Executive’s disability
                                         or incapacity due to physical or mental illness), or the Executive willfully or intentionally
                                         engaging in illegal or fraudulent conduct, financial impropriety, intentional dishonesty,
                                         breach of duty of loyalty or any similar intentional act which is materially injurious
                                         RBA Pubco or an affiliate, or which may have the effect of materially injuring the reputation,
                                         business or business relationships of the Employer or an affiliate, or any other act
                                         or omission constituting cause for termination of employment without notice or pay in
                                         lieu of notice at common law. For the purposes of this definition, no act, or failure
                                         to act, on the part of the Executive shall be considered “wilful” unless
                                         done, or omitted to be done, by the Executive in bad faith and without reasonable belief
                                         that the Executive’s action or omissions were in, or not opposed to, the best interests
                                         of the Employer and its affiliates.

 

In the event of termination
for Cause, all unvested stock options granted to the Executive pursuant to the terms of the RBA Pubco’s Stock Option Plan
(the “Option Plan”) will immediately be void on the date the Employer notifies the Executive of such termination. The
Executive will have 30 days from the date of termination to exercise any options which have vested prior to the date of termination,
subject to the terms and conditions of the Option Plan and the applicable individual option agreements.

 

In
the event of termination for Cause, the rights of the Executive with respect to any performance share units (“PSUs”)
and restricted share units (“RSUs”) granted pursuant to the RBA Pubco’s Performance Share Unit Plan (the “PSU Plan”)
and Restricted Share Unit Plan (the “RSU Plan”), respectively, and pursuant to any and all PSU and RSU grant agreements,
respectively, will be governed pursuant to the PSU Plan and RSU Plan, respectively.

 

		b.	Termination
                                         for Good Reason: The Executive may terminate his employment with the Employer for
                                         Good Reason by delivery of written notice to the Employer within the sixty (60) day period
                                         commencing upon the occurrence of Good Reason including the basis for such Good Reason
                                         (with such termination effective thirty (30) days after such written notice is delivered
                                         to the Employer and only in the event that the Employer fails or is unable to cure such
                                         Good Reason within such thirty (30) day period). In the event of a termination of the
                                         Executive’s employment for Good Reason, the Executive will receive
                                         pay and benefits as if terminated by the Employer without Cause under Section 10 c.,
                                         below, and the termination shall be regarded as a termination without Cause for purposes
                                         of the Option Plan, the PSU Plan, and the RSU Plan. In this Agreement, “Good
                                         Reason” means a material adverse change by RBA Pubco or an affiliate, without
                                         the Executive’s consent, to the Executive’s position, authority, duties,
                                         responsibilities, Executive’s place of residence, Base Salary or the potential
                                         short-term or long-term incentive bonus the Executive is eligible to earn, but does not
                                         include (1) a change in the Executive’s duties and/or responsibilities arising
                                         from a change in the scope or nature of RBA Pubco’s business operations, provided
                                         such change does not adversely affect the Executive’s position or authority or
                                         (2) a change across the board affecting similar executives in a similar fashion.

 

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		c.	Termination without Cause: The Employer may terminate
                                         the Executive’s employment at any time, without Cause by providing the Executive
                                         with the following:

 

		i.	eighteen (18) months’ Base Salary plus eighteen (18) months’ at-target STI Bonus;

 

		ii.	continuation of all applicable PSU and RSU rights held by the Executive in accordance with the
applicable PSU and RSU grant agreements, and the terms and conditions of the respective PSU Plan and RSU Plan;

 

		iii.	immediate accelerated vesting of all unvested stock options, with the Executive having 90 days from the date of termination
to exercise such options, subject to the terms and conditions of the Option Plan and the applicable individual option agreements;
and

 

		iv.	continued health and dental benefits coverage at active employee rates until the earlier of the first anniversary of the termination
of the Executive’s employment or the date on which the Executive begins new full-time employment, or paying for such period of
time the Employer’s share of the costs of such benefits;

 

subject to due observance of the statutory notice
period of the Dutch Civil Code and with due observance of other requirements, if any, prescribed by Dutch law.

 

		d.	Resignation: The Executive may terminate his employment
                                         with the Employer at any time by providing the Employer with three (3) months’
                                         notice in writing to that effect. If the Executive provides the Employer with written
                                         notice under this Section, the Employer may waive such notice, in whole or in part, in
                                         which case the Employer will pay the Executive the Base Salary only for the amount of
                                         time remaining in that notice period and the Executive’s employment will terminate
                                         on the earlier date specified by the Employer without any further compensation.

 

In the event of termination by the Executive as provided
in this section, all unvested stock options held by the Executive will immediately be void on the termination date of the Executive’s
employment, with the Executive having 90 days from said date to exercise any vested stock options held by the Executive. The rights
of the Executive with respect to any PSUs or RSUs will be as set forth in the PSU Plan and RSU Plan with respect to termination
by the Executive.

 

		e.	Retirement: In the event of the Executive’s retirement,
                                         as defined by clause 6(a) of this Agreement and the Employer’s policies, all unvested
                                         stock options will continue to vest according to their initial grant schedules and will
                                         remain exercisable up to the earlier of the original grant expiry date and the third
                                         anniversary of the date of retirement.

 

RSUs and PSUs will continue to vest and be paid in
accordance with the original grant schedule applicable thereto.

 

		f.	Deductions and withholdings: All payments under this
                                         Section are subject to applicable statutory and regular payroll deductions and withholdings
                                         as applicable.

 

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		g.	Terms of Payment upon Termination: Upon termination
                                         of the Executive’s employment, for any reason:

 

		i.	Subject to Section 10 d. and
                                         except as limited by Section 10 g. (ii), the Employer will pay the Executive all earned
                                         and unpaid Base Salary less any statutory tax withholdings, earned and unpaid vacation
                                         pay, earned and unpaid STI for a preceding year (if any remains unpaid), and a prorated
                                         STI Bonus for the year of termination, up to and including the Executive’s last day of
                                         active employment with the Employer (the “Termination Date”),
                                         with such payment to be made within five (5) business days of the Termination Date.

 

		ii.	In the event of resignation by the Executive or termination of the Executive’s employment for Cause, no STI Bonus for the year
of termination will be payable to the Executive; and

 

		iii.	On the Termination Date, or as otherwise directed by the Board, the Executive will immediately deliver to the Employer all
files, computer disks, Confidential Information, information and documents pertaining to the Employer’s Business, and all other
property of the Employer that is in the Executive’s possession or control, without making or retaining any copy, duplication or
reproduction of such files, computer disks, Confidential Information, information or documents without the Employer’s express written
consent.

 

		h.	Other than as expressly provided herein, the Executive will not be entitled to receive any further pay or compensation, severance
pay, notice, payment in lieu of notice, incentives, bonuses, benefits, rights and damages of any kind. The Executive acknowledges
and agrees that, in the event of a payment under Section 10b. or Section 10 c. of this Agreement, the Executive will not be entitled
to any other payment in connection with the termination of the Executive’s employment.

 

		i.	Notwithstanding
                                         the foregoing, in the event of a termination without Cause or termination for Good Reason,
                                         the Employer will not be required to pay any Base Salary or STI Bonus to the Executive
                                         beyond that earned by the Executive up to and including the Termination Date, unless
                                         the Executive signs within sixty (60) days of the Termination Date and does not revoke
                                         a full and general release (the “Release”) of any and all claims that
                                         the Executive has against the Employer or its affiliates and such entities’ past
                                         and then current officers, directors, owners, managers, members, agents and employees
                                         relating to all matters, in form and substance satisfactory to the Employer acting in
                                         good faith, provided, however, that the payment shall not occur prior to the effective
                                         date of the Release, provided further that if the
                                         maximum period during which Executive can consider and revoke the release begins in one
                                         calendar year and ends in another calendar year, then such payment shall not be made
                                         until the first payroll date occurring after the later of (A) the last day of the calendar
                                         year in which such period begins, and (B) the date on which the Release becomes effective.

 

		j.	Notwithstanding any changes in the terms and conditions of the Executive’s employment which may occur in the future, including
any changes in position, duties or compensation, the termination provisions in this Agreement will continue to be in effect for
the duration of the Executive employment with the Employer unless otherwise amended in writing and signed by the Employer.

 

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		k.	Agreement authorizing payroll deductions: If, on the
                                         date the employment relationship ends, regardless of the reason, the Executive owes the
                                         Employer any money (whether pursuant to an advance, overpayment, debt, error in payment
                                         or any other reason), the Executive hereby authorizes the Employer to deduct any such
                                         debt amount from the Executive’s salary, severance or any other payment due to
                                         the Executive (to the extent permissible by applicable law). Any remaining debt will
                                         be immediately payable to the Employer and the Executive agrees to satisfy such debt
                                         within 14 days of the Termination Date or any demand for repayment.

 

		l.	Application
                                         of Dutch Civil Code: Any termination of the Executive shall be conducted
                                         with due observance of the provisions of the Dutch Civil Code. To the extent the Executive’s
                                         rights are greater under the Dutch Civil Code than under the contractual terms of this
                                         Agreement, the provisions of the Dutch Civil Code shall govern.

 

		11.	SHARE OWNERSHIP REQUIREMENTS

 

		a.	The Executive will be subject to the RBA Pubco’s share ownership guideline policy, as amended from time to time.

 

		12.	CONFIDENTIAL INFORMATION

 

		a.	in this Agreement “Confidential Information” means information proprietary to RBA Pubco or the Employer that is not
publically known or available, including but not limited to personnel information, customer information, supplier information,
contractor information, pricing information, financial information, marketing information, business opportunities, technology,
research and development, manufacturing and information relating to intellectual property, owned, licensed, or used by RBA Pubco
or the Employer or in which the Employer otherwise has an interest, and includes Confidential Information created by the Executive
in the course of his employment, jointly or alone. The Executive acknowledges that the Confidential lnformation is the exclusive
property of the Employer.

 

		b.	The Executive agrees at all times during the Term and after the Term, to hold the Confidential Information in strictest confidence
and not to disclose it to any person or entity without written authorization from the Employer and the Executive agrees not to
copy or remove it from the Employer’s premises except in pursuit of the Employer’s business, or to use or attempt to use it for
any purpose other than the performance of the Executive’s duties on behalf of the Employer.

 

		c.	The Executive agrees, at all times during and after the Term, not use or take advantage of the Confidential Information for
creating, maintaining or marketing, or aiding in the creation, maintenance, marketing or selling, of any products and/or services
which are competitive with the products and services of RBA Pubco or the Employer.

 

		d.	Upon the request of the Employer, and in any event upon
the termination of the Executive’s employment with the Employer, the Executive will immediately return to the Employer all materials,
including all copies in whatever form containing the Confidential Information which are within the Executive’s possession or control.

 

		13.	INVENTIONS

 

		a.	In this Agreement, “Invention” means any invention, improvement, method, process, advertisement, concept, system,
apparatus, design or computer program or software, system or database.

 

    Page 8 of 12

    	 

    

 

		b.	The Executive acknowledges and agrees that every Invention which the Executive may, at any time during the terms of his employment
with the Employer or its affiliates, make, devise or conceive, individually or jointly with others, whether during the Employer’s
business hours or otherwise, and which relates in any manner to the Employer’s business will belong to, and be the exclusive property
of the Employer, and the Executive will make full and prompt disclosure to the Employer of every such Invention. The Executive
hereby irrevocably waives all moral rights that the Executive may have in every such Invention.

 

		c.	The Executive undertakes to, and hereby does, assign to the Employer, or its nominee, every such
Invention and to execute all assignments or other instruments and to do any other things necessary and proper to confirm the Employer’s
right and title in and to every such Invention. The Executive further undertakes to perform all proper acts within his power necessary
or desired by the Employer to obtain letters patent in the name of the Employer and at the Employer’s expense for every such Invention
in whatever countries the Employer may desire, without payment by the Employer to the Executive of any royalty, license fee, price
or additional compensation.

 

		d.	The Executive acknowledges that all original works of authorship which are made by the Executive (solely or jointly with others)
within the scope of the Executive’s employment and which are protectable by copyright are “works made for hire,” pursuant
to United States Copyright Act (17 U.S.C., Section 101).

 

		14.	NON-SOLICITATION

 

		a.	The Executive acknowledges that in the course of the Executive’s employment with the Employer the Executive will develop close
relationships with the Employer’s clients, customers and employees, and that the Employer’s goodwill depends on the development
and maintenance of such relationships. The Executive acknowledges that the preservation of the Employer’s goodwill and the protection
of its relationships with its customers and employees are proprietary rights that the Employer is entitled to protect.

 

		b.	The Executive will not during the Applicable Period, whether individually or in partnership or
jointly or in conjunction with any person or persons, as principal, agent, shareholder, director, officer, employee or in any other
manner whatsoever:

 

		i.	solicit any client or customer of the Employer or an affiliate with whom the Executive dealt during the twelve (12) months
immediately prior to the termination of the Executive’s employment with the Employer (however caused) for the purposes of (a) causing
or trying to cause such client or customer to cease doing business with the Employer or to reduce such business with the Employer
or an affiliate by diverting it elsewhere or (b) providing products or services that are the same as or competitive with the business
of the Employer or an affiliate in the area of facilitating the exchange of industrial equipment; or

 

		ii.	seek in any way to solicit, engage, persuade or entice, or attempt to solicit, engage, persuade
or entice any employee of the Employer or an affiliate, to leave his or her employment with the Employer or affiliate,

 

The “Applicable Period” means
twelve (12) months following termination, regardless of the reason for such termination or the party effecting it.

 

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		15.	NON-COMPETITION

 

The Executive agrees that, without the prior written
consent of the Employer, the Executive will not, directly or indirectly, in a capacity similar to that of the Executive with the
Employer, carry on, be engaged in, be concerned with or interested in, perform services for, or be employed in a business which
is the same as or competitive with the business of the Employer in the area of auctioning of industrial equipment, either individually
or in partnership or jointly or in conjunction with any person as principal, agent, employee, officer or shareholder. The foregoing
restriction will be in effect for a period of twelve (12) months following the termination of the Executive’s employment, regardless
of the reason for such termination or the party effecting it, within those countries in Europe where the Executive represented
the Employer.

 

		16.	REMEDIES FOR BREACH OF RESTRICTIVE COVENANTS

 

		a.	The Executive acknowledges that the restrictions contained in Sections 10 g. iii., 12, 13, 14 and 15 of this Agreement are,
in view of the nature of the Employer’s business, reasonable and necessary in order to protect the legitimate interests of the
Employer and that any violation of those Sections would result in irreparable injuries and harm to the Employer, and that damages
alone would be an inadequate remedy.

 

		b.	The Executive hereby agrees that the Employer will be entitled to the remedies of injunction,
specific performance and other equitable relief to prevent a breach or recurrence of a breach of this Agreement and that the Employer
will be entitled to its reasonable legal costs and expenses, including but not limited to its attorneys’ fees, incurred in properly
enforcing a provision of this Agreement.

 

		c.	Nothing contained herein will be construed as a waiver of any of the rights that the Employer may have for damages or otherwise.

 

		d.	The Executive and the Employer expressly agree that the provisions of Sections 10 g. iii., 12, 13, 14, 15, and 22 of this
                                                                Agreement will survive the termination of the Executive’s employment for any reason.

 

		17.	GOVERNING LAW

 

This Agreement will be governed by the laws of the
Netherlands, including the provisions of the Dutch Civil Code. To the extent the rights of the Executive are greater under application
of the Dutch Civil Code than provided under this Agreement, the provisions of the Dutch Civil Code shall govern.

 

		18.	SEVERABILITY

 

		a.	All sections, paragraphs and covenants contained in this Agreement are severable, and in the event that any of them will be
held to be invalid, unenforceable or void by a court of a competent jurisdiction, such sections, paragraphs or covenants will be
severed and the remainder of this Agreement will remain in full force and effect.

 

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		19.	ENTIRE AGREEMENT

 

		a.	This Agreement, including the Appendices, and any other documents referenced herein, contains the complete agreement concerning
the Executive’s employment by the Employer and will, as of the date it is executed, supersede any and all other employment agreements
between the parties.

 

		b.	The parties agree that there are no other contracts or agreements between them, and that neither of them has made any representations,
including but not limited to negligent misrepresentations, to the other except such representations as are specifically set forth
in this Agreement, and that any statements or representations that may previously have been made by either of them to the other
have not been relied on in connection with the execution of this Agreement and are of no effect.

 

		c.	No waiver, amendment or modification of this Agreement or any covenant, condition or restriction herein contained will be valid
unless executed in writing by the party to be charged therewith, with the exception of those modifications expressly permitted
within this Agreement. Should the parties agree to waive, amend or modify any provision of this Agreement, such waiver, amendment
or modification will not affect the enforceability of any other provision of this Agreement. Notwithstanding the foregoing, the
Employer may unilaterally amend the provisions of Section 9 c. relating to provision of certain health benefits following termination
of employment to the extent the Employer deems necessary to avoid the imposition of excise taxes, penalties or similar charges
on the Employer or any of its Affiliates.

 

		20.	CONSIDERATION

 

		a.	The parties acknowledge and agree that this Agreement has been executed by each of them in consideration of the mutual premises
and covenants contained in this Agreement and for other good and valuable consideration, the receipt and sufficiency of which is
acknowledged. The parties hereby waive any and all defenses relating to an alleged failure or lack of consideration in connection
with this Agreement.

 

		21.	INTERPRETATION

 

Headings are included in this Agreement for convenience
of reference only and do not form part of this Agreement.

 

		22.	DISPUTE RESOLUTION

 

In the event of a dispute arising
out of or in connection with this Agreement, or in respect of any legal relationship associated with it or from it, which does
not involve the Employer seeking a court injunction or other injunctive or equitable relief to protect its business, confidential
information or intellectual property, that dispute will be resolved in strict confidence as follows:

 

		a.	Amicable Negotiation - The parties agree that, both during and after the performance of their responsibilities
under this Agreement, each of them will make bona fide efforts to resolve any disputes arising between them via amicable
negotiations;

 

		b.	Arbitration - If the parties have been unable to resolve a dispute for more than 90 days, or such other period agreed to in
writing by the parties, either party may refer the dispute for final and binding arbitration by providing written notice to the
other party. If the parties cannot agree on an arbitrator within thirty (30) days of receipt of the notice to arbitrate, then either
party may make application to the Netherlands Arbitration Institute (NAI) to appoint one. The arbitration will be held in Amsterdam,
Netherlands, in accordance with the NAI’s rules, and each party will bear its own costs, including one-half share of the arbitrator’s
fees.

 

    Page 11 of 12

    	 

    

 

		23.	ENUREMENT

 

		a.	The provisions of this Agreement will ensure to the benefit of and be binding upon the parties,
their heirs, executors, personal legal representatives and permitted assigns, and related companies.

 

		b.	This Agreement may be assigned by the Employer in its discretion, in which case the assignee shall become the Employer for
purposes of this Agreement. This Agreement will not be assigned by the Executive.

 

 

	Dated this 6 day of May, 2015.	 	 	 	 
	Signed, Sealed and Delivered by	 	)	 	 
	JEROEN RIJK in the	 	)	 	 
	presence of:	 	)	 	
	 	 	)	 	 
	Maria Zulema Herrero	 	)	 	/s/ Jeroen Rijk 
	Name	 	)	 	JEROEN RIJK
	 	 	)	 	 
	Barranco de Burset 13	 	)	 	 
	Address	 	)	 	 
	 	 	)	 	 
	Puzol 46530 Valencia Spain	 	)	 	 
	 	 	)	 	 
	 	 	)	 	 
	Legal division	 	)	 	 
	Occupation	 	)	 	 
	 	 	)	 	 
	/s/ Maria Zulema Herrero	 	 	 	 
	 	 	 	 	 
	RITCHIE BROS. SHARED SErvices B.V.	 	 	 	 

 

	Per:	/s/ Darren Watt	 
	 	Authorized Signatory	 
	 	Statutory Director	 

 

    Page 12 of 12

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