<SEC-DOCUMENT>0000902664-14-000653.txt : 20140210
<SEC-HEADER>0000902664-14-000653.hdr.sgml : 20140210
<ACCEPTANCE-DATETIME>20140210125149
ACCESSION NUMBER:		0000902664-14-000653
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		6
FILED AS OF DATE:		20140210
DATE AS OF CHANGE:		20140210

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFC Industrial Ltd.
		CENTRAL INDEX KEY:			0000016859
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-METALS, MINERALS (NO PETROLEUM) [5050]
		IRS NUMBER:				131818111
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-54859
		FILM NUMBER:		14587331

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1620 - 400 BURRARD
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3A6
		BUSINESS PHONE:		604-683-5767

	MAIL ADDRESS:	
		STREET 1:		SUITE 1620 - 400 BURRARD
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 3A6

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TERRA NOVA ROYALTY Corp
		DATE OF NAME CHANGE:	20100330

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KHD HUMBOLDT WEDAG INTERNATIONAL LTD.
		DATE OF NAME CHANGE:	20051103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MFC BANCORP LTD
		DATE OF NAME CHANGE:	19970313

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KELLOGG PETER R
		CENTRAL INDEX KEY:			0000897485

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		48 WALL STREET
		STREET 2:		C/O IAT REINSURANCE CO LTD
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>p14-0417sc13da.htm
<DESCRIPTION>MFC INDUSTRIAL LTD.
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Washington, D.C. 20549</TD></TR>
<TR>
    <TD COLSPAN="4" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: top">SCHEDULE 13D/A</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: top">Under the Securities Exchange Act of 1934</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Amendment No. 8)*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 29.7pt; padding-left: 37.5pt; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">MFC Industrial Ltd.</P>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: top">(Name of Issuer)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 29.7pt; padding-left: 37.5pt; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">Common Stock, no par value</P>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: top">(Title of Class of Securities)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 29.7pt; padding-left: 37.5pt; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">55278T105</P>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: top">(CUSIP Number)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 32.3pt; padding-left: 37.5pt; text-align: center; vertical-align: top">Peter R. Kellogg<BR> 48 Wall Street<BR> 30th Floor<BR> New York, New York 10005<BR> (212) 389-5841</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 32.3pt; padding-left: 37.5pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 32.3pt; padding-left: 37.5pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: top">With a copy to:<BR> Marc Weingarten and David Rosewater<BR> Schulte Roth &amp; Zabel LLP<BR> 919 Third Avenue<BR> New York, New York 10022</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 29.7pt; padding-left: 37.5pt; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid"></P>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Name, Address and Telephone Number of Person<BR> Authorized to Receive Notices and Communications)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 32.3pt; padding-left: 37.5pt; text-align: center"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.5pt solid">February 7, 2014</P>

</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="4" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; vertical-align: middle">(Date of Event Which Requires Filing of This Statement)</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 79px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">If the filing person has previously filed a statement on
Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e),
Rule 13d-1(f) or Rule 13d-1(g), check the following box. [ ]</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">(Page 1 of 7 Pages)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">______________________________</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">The information required on the remainder of this cover page shall
not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&quot;Act&quot;) or
otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).</P>


<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">CUSIP No. 55278T105</TD><TD STYLE="text-align: center; width: 34%">SCHEDULE 13D/A</TD><TD STYLE="text-align: right; width: 33%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --> of 7 Pages</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><BR CLEAR="ALL">
 <B>1</B></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">NAME OF REPORTING PERSONS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">Peter R. Kellogg</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a)&nbsp;<FONT STYLE="font-family: Wingdings 2">T</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(b)&nbsp;<FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">OO</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">United States</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center">NUMBER OF<BR>
SHARES<BR>
BENEFICIALLY<BR>
OWNED BY<BR>
EACH<BR>
REPORTING<BR>
PERSON WITH</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">20,662,400</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">SHARED VOTING POWER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">20,662,400</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="3" STYLE="border: Black 1pt solid; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">SHARED DISPOSITIVE POWER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">20,662,400</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item
        5)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">33.0%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">IN</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 434px">&nbsp;</TD>
    <TD STYLE="width: 1px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 2; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">CUSIP No. 55278T105</TD><TD STYLE="text-align: center; width: 34%">SCHEDULE 13D/A</TD><TD STYLE="text-align: right; width: 33%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --> of 7 Pages</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>1</B></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">NAME OF REPORTING PERSONS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">IAT Reinsurance Company Ltd.</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>2</B></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(a)&nbsp;<FONT STYLE="font-family: Wingdings 2">T</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">(b)&nbsp;<FONT STYLE="font-family: Wingdings 2">&pound;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>3</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">SEC USE ONLY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>4</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOURCE OF FUNDS</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">WC</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>5</B></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>6</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">Bermuda</P></TD></TR>
<TR>
    <TD ROWSPAN="4" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt; text-align: center"><FONT STYLE="font-size: 11pt">NUMBER OF</FONT><BR>
<FONT STYLE="font-size: 11pt">SHARES</FONT><BR>
<FONT STYLE="font-size: 11pt">BENEFICIALLY</FONT><BR>
<FONT STYLE="font-size: 11pt">OWNED BY</FONT><BR>
<FONT STYLE="font-size: 11pt">EACH</FONT><BR>
<FONT STYLE="font-size: 11pt">REPORTING</FONT><BR>
<FONT STYLE="font-size: 11pt">PERSON WITH</FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>7</B></TD>
    <TD COLSPAN="3" STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE VOTING POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">13,405,000</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>8</B></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">SHARED VOTING POWER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>9</B></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">SOLE DISPOSITIVE POWER</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">13,405,000</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>10</B></TD>
    <TD COLSPAN="3" STYLE="border: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">SHARED DISPOSITIVE POWER</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>11</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">13,405,000</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>12</B></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding: 3pt 6pt 6pt"><FONT STYLE="font-size: 11pt">CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-right: 6pt; padding-left: 6pt"><FONT STYLE="font-family: Wingdings 2">&pound;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>13</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item
        5)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">21.4%</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 11pt Times New Roman, Times, Serif; padding-top: 3pt; padding-bottom: 6pt; text-align: center"><B>14</B></TD>
    <TD COLSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 6pt; padding-left: 6pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 0">TYPE OF REPORTING PERSON</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 3pt 0 6pt 0.25in">CO</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="width: 434px">&nbsp;</TD>
    <TD STYLE="width: 1px">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">CUSIP No. 55278T105</TD><TD STYLE="text-align: center; width: 34%">SCHEDULE 13D/A</TD><TD STYLE="text-align: right; width: 33%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> of 7 Pages</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><B>Introduction</B></TD>
    <TD STYLE="width: 85%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Amendment No. 8 (&quot;AMENDMENT NO. 8&quot;)
        to Schedule 13D is being filed pursuant to Rule 13d-1(f) regarding shares of the common stock, no par value per share (the &quot;SHARES&quot;),
        of MFC Industrial Ltd., a British Columbia corporation (the &quot;COMPANY&quot;), that may be deemed to be beneficially owned by
        Peter R. Kellogg (&quot;MR. KELLOGG &quot;) and IAT Reinsurance Company Ltd., a Bermuda limited liability company (&quot;IAT&quot;
        and together with Mr. Kellogg, the &quot;IAT GROUP&quot;). IAT and Mr. Kellogg are each referred hereto as a Reporting Person,
        and are collectively referred to as the Reporting Persons.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Amendment No. 8 amends and supplements
        the statement on Schedule 13D dated February 9, 2001, as amended from time to time, relating to the Shares. This Amendment No.
        8 reflects transactions and developments through February 7, 2014, relating to such Reporting Persons' holdings of the Company.
        Only those items hereby reported in this Amendment No. 8 are amended and all other items remain unchanged. Terms used herein but
        not otherwise defined shall have the meanings set forth in Schedule 13D, as amended.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As a result of the Reporting Persons' completion
        of their solicitation of proxies from the shareholders of the Company in connection with the completion of the Company's Annual
        General and Special Meeting of Shareholders of the Company held on December 27, 2013 in Hong Kong and the termination of the Horn
        NDA in accordance with its terms, the IAT Group and William C. Horn III (&quot;MR. HORN&quot;) are no longer deemed to be a &quot;group&quot;
        for purposes of Section 13(d)(3) of the Act and Rule 13d-5(b)(1) promulgated thereunder. As described in Item 5 of this Schedule
        13D, the IAT Group and Mr. Horn have terminated their status as a &quot;group&quot; for purposes of Section 13(d)(3) of the Act
        and Rule 13d-5(b)(1) promulgated thereunder with respect to the Shares, and have terminated the Joint Filing Agreement, dated November
        27, 2013. The security ownership reported in this Amendment No. 8 does not include the security ownership by Mr. Horn. This Amendment
        No. 8 only reports information on the Reporting Persons identified in the cover pages hereto, and not Mr. Horn.</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Item 2.</B></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>IDENTITY AND BACKGROUND</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Item 2 of the Schedule 13D is hereby amended and restated in its entirety:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">(a)</TD>
    <TD STYLE="width: 79%; padding-right: 5.4pt; padding-left: 5.4pt">This Schedule 13D is filed on behalf of Mr. Kellogg and IAT. Mr. Kellogg is </TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">the sole owner of IAT's voting stock, is a member of IAT's board of directors, and is the President and CEO of IAT.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">(b)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">The business address for Mr. Kellogg and IAT is 48 Wall Street, 30th floor, </TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">New York, NY 10005.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">(c), (f)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Mr. Kellogg is a United States citizen and a private investor. IAT is a </TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">reinsurance company incorporated in Bermuda.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">(d)-(e)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">During the last five years, no Reporting Person, and, to their knowledge, none of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">the directors or executive officers of any Reporting Person, as applicable, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">CUSIP No. 55278T105</TD><TD STYLE="text-align: center; width: 34%">SCHEDULE 13D/A</TD><TD STYLE="text-align: right; width: 33%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --> of 7 Pages</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt"><B>Item 3.</B></TD>
    <TD STYLE="width: 90%; padding-right: 5.4pt; padding-left: 5.4pt"><B>SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Item 3 of the Schedule 13D is hereby amended and restated in its entirety as follows:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">An aggregate of approximately $89,150,130.00 was used by the Reporting Persons to acquire the</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Shares.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">The source of funds for the Shares beneficially held by the IAT Group was derived from the</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">working capital of IAT and its wholly-owned subsidiaries, funds of the foundation administered by Mr. Kellogg and the funds of the companies controlled by Mr. Kellogg. Funds for the purchase of the Shares beneficially held by the IAT Group were also derived from margin borrowings described in the following sentence. Such Shares are held by the IAT Group in commingled margin accounts, which may extend margin credit to the IAT Group from time to time, subject to applicable federal margin regulations, stock exchange rules and credit policies. In such instances, the positions held in the margin account are pledged as collateral security for the repayment of debit balances in the account. The margin accounts bear interest at a rate based upon the broker's call rate from time to time in effect. Because other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Shares reported herein.</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt"><B>Item 4.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt"><B>PURPOSE OF TRANSACTION</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Item 4 of the Schedule 13D is hereby amended
        and supplemented by the addition of the following:</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On February 7, 2014,
        the IAT Group and the Company entered into an agreement (the &quot;AGREEMENT&quot;) in connection with the full and final settlement
        of the litigation between the parties.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Pursuant to the
        Agreement, among other things, each party agreed to provide the other with a mutual release (the &quot;MUTUAL RELEASE&quot;) and
        the IAT Group agreed to abide by certain customary standstill and non-disparagement provisions during the Term (as defined in the
        Agreement).</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Also on February
        7, 2014, the Company and the IAT Group issued a joint press release announcing their entry into the Agreement and Mutual Release
        (the &quot;PRESS RELEASE&quot;).</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The foregoing summary
        of the Agreement and the Press Release is qualified in its entirety by reference to the full text of the Agreement and the Press
        Release, copies of which are attached as Exhibits 10 and 11, respectively, to this Schedule 13D and are incorporated by reference
        herein.</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">CUSIP No. 55278T105</TD><TD STYLE="text-align: center; width: 34%">SCHEDULE 13D/A</TD><TD STYLE="text-align: right; width: 33%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --> of 7 Pages</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt"><B>Item 5.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt"><B>INTEREST IN SECURITIES OF THE ISSUER.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Paragraphs (a) and (b) of Item 5 of the Schedule
        13D are hereby amended and restated in their entirety as follows:</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(a) As of the close of business on February
        7, 2014, the Reporting Persons may be deemed to beneficially own an aggregate of 20,662,400 Shares, constituting approximately
        33.0% of the Shares outstanding. The aggregate number and percentage of Shares reported herein are based upon the 62,552,126 Shares
        outstanding as of November 14, 2013, as reported in the Company's Quarterly Report filed on Form 6-K with the Securities and Exchange
        Commission on November 14, 2013.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">(b) Mr. Kellogg
        may be deemed to beneficially own an aggregate of 20,662,400 Shares, constituting approximately 33.0% of the Shares outstanding.
        IAT may be deemed to beneficially own 13,405,000 Shares, constituting approximately 21.4% of the Shares outstanding. Mr. Kellogg
        has sole dispositive and voting power with respect to the Shares owned by IAT. By virtue of his position with IAT, Mr. Kellogg
        may be considered to indirectly beneficially own such shares. Mr. Kellogg disclaims beneficial ownership of any shares owned by
        IAT. In addition, Mr. Kellogg disclaims beneficial ownership of 1,200,000 Shares owned by his wife, Cynthia. By virtue of the IAT
        Group's completion of the Proxy Solicitation, the IAT Group and Mr. Horn are no longer deemed to have formed a &quot;group&quot;
        within the meaning of Section 13(d)(3) of the Act. By virtue of the IAT Group's completion of the Proxy Solicitation and the termination
        of the Horn NDA in accordance with its terms, the IAT Group and Mr. Horn are no longer deemed to have formed a &quot;group&quot;
        within the meaning of Section 13(d)(3) of the Act. As a result, all Shares reported herein are beneficially owned by the IAT Group.</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt"><B>Item 6.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt"><B>CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Item 6 is hereby amended and supplemented by
        the addition of the following:</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On February 7, 2014, the IAT Group and the Company
        entered into the Agreement and the Mutual Release, which are described in Item 4 of this Schedule 13D and are incorporated by reference
        herein.<FONT STYLE="font-size: 10.5pt"> </FONT></P>
        <P STYLE="font: 10.5pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Reporting Persons are parties to an agreement
        with respect to the joint filing of this Schedule 13D and any amendments thereto (the &quot;JOINT FILING AGREEMENT&quot;). A copy
        of the Joint Filing Agreement is attached as Exhibit 12 to this Schedule 13D and is incorporated by reference herein.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Other than the Agreement, the Mutual Release
        and the Joint Filing Agreement, the Reporting Persons have no contracts, arrangements, understandings or relationships with any
        persons with respect to securities of the Company.</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt"><B>Item 7.</B></TD>
    <TD STYLE="width: 89%; padding-right: 5.4pt; padding-left: 5.4pt"><B>EXHIBITS</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>&nbsp;</B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Item 7 is hereby amended and supplemented by the addition of the
        following:</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B><U>Exhibit</U></B></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B><U>Description</U></B></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 10%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">10</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">11</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">12</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 90%">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Agreement, dated February 7, 2014.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Press Release, issued February 7, 2014.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Joint Filing Agreement, dated February 7, 2014.</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: bold 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 33%">CUSIP No. 55278T105</TD><TD STYLE="text-align: center; width: 34%">SCHEDULE 13D/A</TD><TD STYLE="text-align: right; width: 33%">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --> of 7 Pages</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SIGNATURES</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">After reasonable inquiry and to the best
of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete
and correct.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date: February 10, 2014</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>IAT REINSURANCE COMPANY LTD.</B></TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 43%; padding-right: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 47%; padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="padding-right: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Peter R. Kellogg</P></TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="padding-right: 5.75pt">Peter R. Kellogg</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="padding-right: 5.75pt">President and Chief Executive Officer</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 1pt; border-bottom: Black 0.5pt solid">/s/ Peter R. Kellogg</P></TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Peter R. Kellogg</B></TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_003.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_003.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``@&!@<&!0@'!P<)"0@*#!0-#`L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+#`Q-#0T'R<Y/3@R/"XS-#+_
MVP!#`0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P``1"`"X`:D#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#W^BBB@`HH
MHZT`<[=^-]`L[DP/>[W4[6,2%PI^HXI^I^*(;71/[5T^'^T8,X9HG`">[=Q^
M51^(?!]AKD#-&B6UX!\DR+C/LP[C]:\QBGU3PGJTL++L<?++"_,<R'U'<$=Z
MY*E6I!^]MW.FG3A-:;GIWAWQA9:^DJE#;7$2[VC9LY7U![UM65_::C#YUG<Q
M3QYQNC8'!KP[[:MAJZ7^E,T(5O,C1CDQ^J'U';W%:.D^($TCQ.;^U5H[*=\S
M09X"MU'_``$DX^E3#%/12*GANL3VFN%B\3.GQ)FLED+6<NVVVYX$BC.1^.1_
M^JMGQ5XEAT+2B\3JUW.N+=1S_P`"/L*\S\,S6]MK!U2_<F*S4S'^])(>%`]2
M2<_A5UJMI**9%*G>+DST3QQXB?1=,2*UEV7T[#8>NU0<EOZ?C6WH]_\`VGHU
MI?%0IFB#LHZ`]_UKQ?4+Z^\2ZWYK*7N)V$<42]%&>%'^?4UV7B;7TT#1(/#F
MGRAKE(5CGE4_ZL8Y`]S^@J8U[RE-[%2HV2BMST))$E19(V#HPR&4Y!%.K$\(
M120^$M-24$-Y(.#Z$DC]"*VZZXNZ3.:2LV@HHHIB"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"N?\5^&XO$&G$(JK>Q`F"3I_P$^Q
MKH**F45)68XR<7='SQ)&\4CQR*4=&*LK#D$=16[HMI;65C)KVHQB6&)_+M;=
MO^6TOO\`[([UM?$70O(U&'4K9/ENSY<@`_Y:=C^(_E6'XIE6*^ATJ%O]'TV(
M0`#H7ZNWU)_E7F.'LY._0]%3YTK=3+O[^YU.]DN[N4R3.>3V`[`#L!5:BBL6
M[ZLU2L:FG:FFD1-/:KNU%P565AQ`IX.T=V/KT`J_X:\/-K%P^H:@_EZ9"V^>
M>4X\P]2,GK[FL>QDLH9/-O(9+@*>(5;8K?[S=<>P'XUL0MK/C*\BL(0(K2,@
M>5$NV&!?4CN?KS6L+.U]?(SEI>VGF>Q6\D4UM%+`RM"Z!D*]"I'&*DJ"SM4L
MK*"UBSY<,:QKGT`Q4]>JMCS&%%%%,`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"HI[B&U@>>XE2*)!EG<X`'UJ0D#J:PO&%O%=>&KE)YQ!
M`I1Y9,9(4,"<#N3T`]34R=HMH<5=I,BU+QMHMC9//#=Q7<HX6&%P2Q_H/>N=
MNOB#K%FL,ESH:0QS@M%YCL"P'X5S&J:7#$%>"%K:<H'2R#--*$Z[Y#T3CG%8
MKRRRX\R5WQTW,3C\ZX*F(J7['="A"QZCIWB6R\91C39X#;7:NDZ*S;E;8P;@
M^O'Y5YE>S-<W]S.QRTDKN3]236KX.)'B[3<''[PC_P`=-8C_`.L?_>/\ZSJ3
M<XIO<N$%"32$HHI5V[AO)"]\#)K$U+UBVDQ`27\=W<,/^6,1$:GZMR?R%>K^
M#+HWFB&5-,BL+;S"($CR=RX'S$GKSGGVKA_#">'IM4MK<:;?7UR[#_7%?+0=
MV*@]![YKT/Q)JIT'P]<7D,:EXP$B7'R@DX'X"NW#QY4YMZ(XZ[YFHI:FQ17G
M^I:;KMOH8U,^)KMKAU5_)C0[6)&=J[?\*JZ!IGB[4[E7O=1U"SLP<NTDA5V'
MHH_J:W]L[VY69>R5K\QZ512*-J@<\#')I:W,0HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`**BN+B&U@>>XE2*)!EG<X`'UIMI>6U_;+<VDR30O\`
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M3Y+7."5.IS7L9L.J:KX&NDL=4#7FDL<0SJ/F0>G_`-B?PKNK*^MM1M$NK299
M87Z,I_3V/M7'S^/O#FI6<EM?6MT8G&&1X@0?R/6L[X9M*=3U,0[Q9;0<,<X;
M=\OXXS4PJ*,E&+NG^!4X-Q<I*S7XGI-%%%=1S!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!1110!Y[XTNKK3M5S!JEU)<3("MBL`>'R^GS`]>_8_A7+Z'
MXLO_``_]HCMXHGBE?=Y,F=J-[<\?_6KV;R8O/\_RU\[;LWX^;;G.,^E<;XE\
M+7FO:JJV]G96<`.Z2\/,DI^@'\ZY*M*:?/%ZG53J1:Y9(PQ\3M3[V%I^;?XU
M#K?B&Y\3>%)9IX(XC:WD8(C)P0RMR<^]:^H?#&+[,ITZ]<3JO(G`*N?J.GZU
MSEC9W&D7MSHNL1-;0ZC'Y0D;E0X.4<'H0#U^M8R]JM)[,TC[)ZPW1S5%375K
M-974MK<(4FB8JZGL:AKE.D****0!16QI7AG4M73SHHA#:CEKF<[$`]<GK^%:
M":1X:BN4M'U6]O[EV"A;&$;=WH">M:*G)ZD.:6AR]:&E:M)ILCHR">SFXN+9
M_NR#^A'8UT>O?#^YTZT:\L)7N857<\3J!(H_#@UQE$HRIO4(RC-:'KVF^%_"
MFJ6$-[:V"O%(,C,CY![@\]17165A::;;B"RMXX(LYVHN,GU/K7F?P[UMK/53
MI<K?Z/=<ID_=D`_J/Y"O5:]&@XRCS)69PUE*,K-A1116YB%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`5D>([ZPTW27NM0ACF6,@Q1N`=TG
M\(&>_O6C]IMS<-;^?'YZKN,>\;@/7%>1^.=<.K:XT,;YM;0F-,="W\3?GQ^%
M8UZBA&YK1IN<C!U"_N-3OYKVZ;=-*V6]!Z`>P'%7[?PW>RZ)<:O,!;V42;E:
M0<R'H`H]"2.:N>"=$AUO7-MRNZVMT\UU[.<X`^G^%>O7%G;74*PSP))$I#!&
M&5R.G%<E&@ZB<F=56MR-11XOHWA;5=<8-;P&.`]9Y?E3\/7\*]$T7P#I>F;9
M;H?;;@<[I5^0?1?\<UT-[?V>EVAN+N9((%P-S?H`.]8.J^/-&L;-GM;A;R<C
MY(X\XS[GL*WC2I4M9/4QE4J5-(K0\_\`&&IWEUK][:27+M:P2E(X0<(H''05
M:^'<22>*U9ADQP.R^QX'\B:S-,T75/$]_,]O'N+.6FG?A%).3S_05Z)X8\$C
MP_?_`&U[XSRF,QE%CVJ,X]\]JYZ4)SJ<]M+FU2480Y+ZG6UXCXNT]-+\37D$
M:A8F82H!P`&&<#\<U[=5&;2-/N-0%]/:12W(01AW7=@`D\`_7K796I>T21RT
M:GLW<\%20QNKHY5U.593@@^U:5IKVHV][!/)?W;I'(KLAF8A@#DCK7MTEA9R
MH4DM('0_PM&"*\P\<>'+33?(U'3%46D[%'5#E5?MCV.#Q[5R3H2IKF3.J%:-
M1V:/58Y$EB22-@R.`RD=P:=7&?#S6_MVDG3I6S/:?=S_`!1GI^73\J[.NZ$U
M.*DCBG%QDTPHHHJR0HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#SF;XY>!
M;>>2&34+D/&Q1A]E?J#@]J@E^.O@5X76/5+F-RI"O]C<[3ZXQS7RSJW_`"&;
M[_KXD_\`0C5.@#WR7Q;\.IRTL_B;4Y+EW+/,UDV6_#%+:^+?AO;7<,__``D%
M[+Y;A]DFGL5;'8C'2O`J*Q]A3WL:^VGW/J2Q^+?PSTV_N;NSN[B)[D*)%6T<
M+D9Y`QQUK1_X7QX"_P"@C<_^`DG^%?)5%:I):(S;;W/I'7_B5X"\0W\4USXB
MOTMXAA;=+%\#U.<=3ZUC'Q/\-R3CQ)J('8?8&_PKP>BLY482=VBU5FE9,^K;
M+XU_#O3[..UM[R:..-0`J6;@?7I5C_A?'@+_`*"-S_X"2?X5\E45JE8SW/K7
M_A?'@+_H(W/_`("2?X4?\+X\!?\`01N?_`23_"ODJB@#ZHU;XT>!-4TR:R76
MKVV\T8:2.T?=CN.G?I7)#Q;\.Q#Y(\4:KY.<^7]C;;GUQC%>"45G*E";O)%Q
MJ2BK)GU'\/\`Q/X$F\21V.DZG>7>IW(98?-MWC``4LPZ8Z#OZ5VTOCW0(9I(
M7N)0\;%&'DMU!P>U?,WP3_Y*UHO_`&V_]$O7H&I?\A6]_P"OB3_T(UC6G[%)
M01M2C[5MS/5_^%@^'O\`GYE_[\M_A1_PL'P]_P`_,O\`WY;_``KQZBN?ZW4\
MC;ZM`]A_X6#X>_Y^9?\`ORW^%'_"P?#W_/S+_P!^6_PKQZBCZW4\@^K0/8?^
M%@^'O^?F7_ORW^%'_"P?#W_/S+_WY;_"O'J*/K=3R#ZM`]A_X6#X>_Y^9?\`
MORW^%'_"P?#W_/S+_P!^6_PKQZBCZW4\@^K0/8?^%@^'O^?F7_ORW^%'_"P?
M#W_/S+_WY;_"O'J*/K=3R#ZM`]A_X6#X>_Y^9?\`ORW^%'_"P?#W_/S+_P!^
M6_PKQZBCZW4\@^K0/8?^%@^'O^?F7_ORW^%'_"P?#W_/S+_WY;_"O'J*/K=3
MR#ZM`]A_X6#X>_Y^9?\`ORW^%'_"P?#W_/S+_P!^6_PKQZBCZW4\@^K0/8?^
M%@^'O^?F7_ORW^%'_"P?#W_/S+_WY;_"O'J*/K=3R#ZM`]A_X6#X>_Y^9?\`
MORW^%'_"P?#W_/S+_P!^6_PKQZBCZW4\@^K0/8?^%@^'O^?F7_ORW^%'_"P?
M#W_/S+_WY;_"O'J*/K=3R#ZM`]A_X6#X>_Y^9?\`ORW^%'_"P?#W_/S+_P!^
M6_PKQZBCZW4\@^K0/8?^%@^'O^?F7_ORW^%'_"P?#W_/S+_WY;_"O'J*/K=3
MR#ZM`]A_X6#X>_Y^9?\`ORW^%'_"P?#W_/S+_P!^6_PKQZBCZW4\@^K0/8?^
M%@^'O^?F7_ORW^%'_"P?#W_/S+_WY;_"O'J*/K=3R#ZM`]A_X6#X>_Y^9?\`
MORW^%'_"P?#W_/S+_P!^6_PKQZBCZW4\@^K0/8?^%@^'O^?F7_ORW^%'_"P?
M#W_/S+_WY;_"O'J*/K=3R#ZM`]A_X6#X>_Y^9?\`ORW^%'_"P?#W_/S+_P!^
M6_PKQZBCZW4\@^K0/85^('A]F"BYER3@?N6_PKJ*^>8?]?'_`+X_G7T-73AZ
MLJE^8YZ]*,+6/@S5O^0S??\`7Q)_Z$:J*,L`?6K>K?\`(9OO^OB3_P!"-5$^
M^OUKI,#[`B^#G@!H8V;P]'DJ/^7B7T_WZ^<OBIX7@\(^/KW3[.(Q6+JD]LF2
M<(PZ9//#!A^%?4'C?63X>\(Q:QDA+2YM7DQ_SS,J*_\`XZQKA/C5X//B+7_"
M%S$,K<W8T^9UY^1CO!^@`D-`%GP)\'_"EQX'TBYUO1EN-1N(!-+(TTBGY_F`
MP&`&%('X5Y=\</"NB^%/$>FVNB6*VD,UIYCJ'9LMO(S\Q/85]#ZEJJVWC;PY
MH-OA0\5Q<.B_PHB;%'YN?^^:\1_:2_Y&W2/^O`_^C&H`\X\`Z;::QX]T73K^
M$36EQ<JDL9)&Y?3(YKZ/UKX<_"GP[:I<ZQIMI902/Y:/-=2@%L$X^]Z`U\]_
M"[_DI_AW_K\7^M?4_CSP1I_CO2+?3]1O)[6*&<3JT)4$G:5Q\P/'S&@#@?[*
M^`__`#UTK_P,E_\`BJ\&\:1Z/#XQU./0#&=*67_1C&Q9=N!T)Y/.:]V_X9T\
M+_\`0>U+_OJ+_P")KYUU&V2SU2[M8V+)#,\:L>I`8C/Z4`>C?"CX4-XY>34]
M2ED@T:"39^[X>=QR54]@,C)]\#V]<O=/^#?ABX&CW]OHD5PN%9)D,LB_[S')
M7\2*W/`$::-\'M)EM(P2FF_:<`?>=E+G]37Q[=74]]=S7=S*TL\SF221CDLQ
M.23^-`'OGQ'^"^C'P_/XC\(R+$L47GM;"7?#+'C)9&)X..<9(/:OGVM&;7M6
MN-'M](FU&Y?3K<DQ6ID/EJ2<GCIUK.H`]`^"?_)6M%_[;?\`HEZ]`U+_`)"M
M[_U\2?\`H1KS_P""?_)6M%_[;?\`HEZ]`U+_`)"M[_U\2?\`H1KBQFR.O"[L
MJUTVN:396?A/1;Z"';<7(_>ON)W?+GIT%<S7:>)?^1#\-_3_`-EKEII.,CHF
MVI1*?@C2=.U:^O4U*/?##!Y@)<KMYY.0?2LOQ!HLNA:M):/EHC\\,A_C0]#]
M>QK:\"C)UL>M@W]:FTIU\7^&O['F8?VI8IOM)&/^L3^Z3^0_(]JT45*"774E
MR<9M]#.\.Z79W^C:[<7,6^6UMP\)W$;3AN>.O05CZ7#'<ZM902KNCDG1'&<9
M!8`UTGA-630O%".I5EM<,IZ@@/Q7/:)_R'M._P"OF/\`]"%0TK1_KJ4F[R_K
MH=AK4?@W1-3DL)]'NGD158M'*<<C/=J@AT/PUXDBE30YI[2_12RP3G(?\\_F
M#QZ5G_$#_D<+C_KG'_Z#69X;F>#Q-IKQDAOM"+QW!."/R)JY27M'%I6N1&+Y
M.9-W(;&SSKMM97<1&;E8I8SP1\V"*O>+M/M=+\23VEG'Y<"(A"[B>JY/)K5U
M^-8OB?&$``:YMV./4[<U4\?_`/(X77^Y'_Z"*F4%&+79E1DW)>A7\'Z=:ZKX
MCBM+R/S(6C=BNXCD#CI65J,4=OJ=W#&-L<<SJHST`8@5O_#[_D;X/^N4G\JP
M]7&=:U`?]/,G_H1J6E[-/S&F_:->1T\FF:-X7TJSN-5LWU"_NTWK"7VI&,#K
M^8]:2PD\,^)+I=/?2CI=S+Q#-!)E2WH1_P#6J>'7O#_B'3+6R\0++;W-NNQ+
ME,X/&,Y&<9P,@C%-'@>*X/VCP_KT%PZ?,JEL,I[<J>#^`K:U_@2:_$RO;X[I
M_@9=K%H^B7U]8^(+":ZGBD"HT+%0!CKU'7@UT$=GX0E\-RZV-(N!!')Y90RM
MN)R!_>QWKA+Y;N.]FCOO,^U(VV3S6);(]376VG_));W_`*^O_9EJ:<EJK;)E
M36SOO8QM:N_#T]HBZ1IUQ;3A\L\KY!7!X^\>^*W[FR\-:/H&DW=[I4UQ+>0A
MF,<S#G:"3U]ZX2O2M3T&77/"OA]8KNVM_*@!/GL1G*KT_*BG>7,TE<<[1LF]
M##@N?!-Y,L$FFWMF'.T3"4D+]>3_`"K)\2:$_A_5C:>898F421.1@E3Z^X(K
M<B^'LL:BYOM6L8[)3^\D1B>/3)P*SO&FLVVLZTC6>6M[>(1(_P#?Y))'M2G%
MJ'O*S"#][W7=$D^D62?#VVU58<7CW&QI-QY&YATZ=A7,5VES_P`DFM/^OL_^
MA-7.:%IIU?6[2Q_AD?Y_9!RWZ"IG'6*79%0EHV^[.PT_P98S^$U:5#_:\]NU
MQ%\YR!Q@8SCNH_&O/J]`O=<FB^(UO)'%(+.V(L^$.W:>&/YX_P"^:YOQ=IHT
MOQ-=PJN(I#YT?'&&Y_0Y%75C&UX]-":3=[2ZZEK3-)LKGP/JNI2P[KNWDVQO
MN(P/E[=.YKF:[31?^29Z[_UU_P#B*XNLZB24?0J#;<O4*V?"EA;:GXDM+.[C
M\R"3?N7)&<*2.1[BL:NB\"_\CC8_\#_]`-335YI,J;M%F7K5O%9ZY?VT"[8H
MIW1%SG`!XK0T:\\.06135M-N+FYWDAXWP-O&!]X>]5/$?_(S:I_U]2?SK,IM
M\LG8+<T4>B7-GX0M?#UIK+Z1<&"Y?:J"5MPZ]?FQ_":Y'7+G1+CR?[&L9[7;
MN\WS6SNZ8QR?>N@UC_DEVB_]=O\`XNN)/2M*LMDDMD9TEU;ZG?WEAX6T71M*
MN;[2YYI+N$,3%*W7:I)/S#UJK;0^"=9E%I"EYIT[\1N[Y4GL.21^>*=XV_Y%
MOPU_U[_^R)7$'IP<&G4FHRM96%"+E&]V:&M:1<:'J<EE<\E>4<='4]"*SZ[;
MQZ?/T[P_>/\`ZZ6V.\^O"G^9-<3656*C)I&E.3E%-CX?]?'_`+X_G7T-7SS#
M_KX_]\?SKZ&KKP?VCFQ70^#-6_Y#-]_U\2?^A&JB??7ZU;U;_D,WW_7Q)_Z$
M:I@X.17:<A]??&%=WP=UCVC@/_D5*O?#?5(/%/P\T&_G59)[>,(Q/598P8RW
MU(Y_X%7RKJ'CSQ5JNGRV%_KU]<6DH`>&23*L`01D?4"H='\9>)-`LS9Z3K-Y
M9VQ<R&.&3"[B`"<?@*`/>]'UDZW^TUJ(5]T.GV#VL?/3;MW?^/LU<E^TE_R-
MND?]>!_]&-7E.G^(]9TK59M4L-2N+>^FW>;<(^'?<<MD^YYINL^(-7\0W$<^
ML:A/>RQKL1YFW%5SG`H`W/A=_P`E/\._]?B_UKVW]H\D>!],()'_`!,5Z?\`
M7-Z^;+&^NM,OH;VRG>"YA;='*APRGU%:>L^,/$7B&U2UU?6+N]@1_,6.9]P#
M8(S]<$_G0!C;V_O'\Z;110!]0?`CQK9ZOX4C\-74R+J.GAECC8\S0YR"/7&2
M"/0#UKF/$7[.E_-KLLV@ZG9QZ=-(66*YW!X0?X1@'<!VZ?UKPNVNKBRN8[FU
MGD@GC.Y)8F*LI]01R*[:W^,OCZVM?(7Q!(RXP&DAC=Q_P(KG\Z`/1O&GPG\#
M^$/A^MSJ%]<QZG"A"7$;?-=S'D+Y9R,?3&!U)KY^K0UC7=5\07GVO5]0N+V?
M&`\SEMH]`.@'L*SZ`/0/@G_R5K1?^VW_`*)>O0-2_P"0K>_]?$G_`*$:\_\`
M@G_R5K1?^VW_`*)>O0-2_P"0K>_]?$G_`*$:XL9LCKPN[*M=IXE_Y$/PW]/_
M`&6N+JS-J%Y<6L-K-<R200_ZJ-CPGTKDC*R:[G5*-VGV.G\`#,VLC_IQ-<K8
M7D^GW<%W;/LFB(93_0^QZ4ZTO[NP,AM+B2$R+L<H<;AZ&J]#G[J2Z`HZMOJ>
MJ#[#J'A[6=>LL(;VR*SQ?W9%!S_/^O>O.=$_Y#VG?]?,?_H0J*WU&\M;>:WM
M[J6.&88EC5N'XQS^%0Q2/#*DL3%)$8,K#J".AJIU%)IVV)A3Y4T=GXVT/5;[
MQ1//:Z?<30E$`=$R#@<TGAGPK=V-^FKZR@LK.S_>_O6&68=..P%8/_"4Z]_T
M%KK_`+[JG>:IJ&H@"\O9YP#D"1R0/PZ53G3YN>SN2H3Y>6Y>O];6\\7'5RI\
ML7*.J]]BD8_'`K>\<Z-=WFJ+K%C$]U9W,2G?"N[!`QT'8C%<16EIWB#5M*3R
M[*^EBCZ^7PR_D<@5*FFFI=2G!IIQZ'3^!]'N=.OIM:U&)[2TMX6PTPVEB?8\
MXQ7'S7*3ZG)=21[HY)S(R=,@MDC\JL:CKNJ:JH6^OI9D!SL)PN?H.*SJ4IJR
MC'9#C%W<I'9>*O#,82VU/0+4R:=+$,B$%BI]2.3S^F*H>$]'U2;Q%9SPVT\4
M<,H>25D*@*.HR>N1QCWK+T_6]3TH$6-[+"I.2@.5)^AXJU>>*]=OHC%/J4NP
MC!5,)GZ[0*KFIN7,3RSMRDWC2\@O?%=W+;,&1=L99>C,HP?\/PK6M/\`DDM[
M_P!?7_LRUQ565U"\2P:Q6YD%HS;FA!^4GKG'X"I53WG)];C<-$ETL5J[3Q>`
M?"?AC(_Y8G_T!:XNK-QJ%Y=P0P7%S)+%`,1(QR$'3C\A4QE:+7<J4;M/L=%X
M*U>&&>71=0PVGWPV8;HKGC\,]/KBL;7M'FT+5I;*7)4?-$Y_C0]#_C[BLVK5
MYJ5]J/E_;;J6X,8(0R')`I\Z<.5]!*-I774ZJY_Y)-:?]?9_]":E\&HNE:/J
MOB.51F&,PP9[MQG]2H_.N3;4+QK!;%KF0VBMN6'/R@]<_J:#J-X;`6'VF3[(
M#N\G/RYSG./K5JHN92[(GV;LUW9O?\+`\18_X^H?^_"UH^*&.O>$-,U_`-Q$
M?)N-H]3C_P!"'_CU</5J/4;R*QDL8[F1;60Y>$'Y6/';\!^5)56TU)W&Z:33
MCH=?X<MI[SX=ZU;VT32S/-A47J>$KGO^$5U__H$W/_?(_P`:JV6LZEIT3165
M]-`C-N*QM@$^M6?^$IU[_H+77_?=-RA)).^@E&:;M;4S;BWFM+A[>XC:.:,X
M9&Z@UN^!?^1QL?\`@?\`Z`:P;BXFNIWGN)&DF<Y9V.233K6ZN+*X6XM9GAF7
M.UT.",C!K.+49)ER3<6CHM=\-ZW<>(-0FATRX>*2X=D95&&!/6L2^TC4=,5&
MOK.6W5SA2XQDU:_X2G7O^@M=?]]U4O=6U#4E1;V\FN%0Y42'.#52<'=J]Q14
MU9.QU6L?\DNT7_KM_P#%UQ)Z59DU"\EL8[*2YD:UB.4B)^53ST_,_G5:E.7,
MT.$>5'H7BG3+[4O#GAT65I+<&.W&_P`M<[<HF,U@:;X(UJ_NDCGLY+6`G]Y+
M+@;1WP.I-4(_$FMPQ)%%JERD:*%50_``Z"F7.O:O>1&*XU*ZDC;@H9#@_45I
M*=.3YFF1&,XJRL=+XD#>*-?@TK10DT=C`5!+@*2"`<'OC@?G7&2QM#,\3C#H
MQ5A[@X-2V=]=:?-YUG</!+MV[XS@X]/TJ%W:1V=R69B68GN3WK.<E)WZE0BX
MZ=!8?]?'_OC^=?0U?/,/^OC_`-\?SKZ&KKP?VCFQ70^0M1^$/CR;5+N6/P],
MR/,[*?.BY!8D?Q56_P"%.^/_`/H7)O\`O_%_\57V-17:<A\<_P#"G?'_`/T+
MDW_?^+_XJC_A3OC_`/Z%R;_O_%_\57V-10!\<_\`"G?'_P#T+DW_`'_B_P#B
MJ/\`A3OC_P#Z%R;_`+_Q?_%5]C44`?'/_"G?'_\`T+DW_?\`B_\`BJ/^%.^/
M_P#H7)O^_P#%_P#%5]C44`?'/_"G?'__`$+DW_?^+_XJC_A3OC__`*%R;_O_
M`!?_`!5?8U%`'QS_`,*=\?\`_0N3?]_XO_BJ/^%.^/\`_H7)O^_\7_Q5?8U%
M`'QS_P`*=\?_`/0N3?\`?^+_`.*H_P"%.^/_`/H7)O\`O_%_\57V-10!\U_"
MOX:^+]`^(VEZGJFBR6UG#YOF2M+&0N8V`X#$]2*[&^\'>()=1NI$TUV1YG93
MO3D%B1WKV.BLJM)5+7-*=5T]CQ3_`(0KQ%_T#'_[^)_C1_PA7B+_`*!C_P#?
MQ/\`&O:Z*Q^IP[LU^M3['BG_``A7B+_H&/\`]_$_QH_X0KQ%_P!`Q_\`OXG^
M->UT4?4X=V'UJ?8\4_X0KQ%_T#'_`._B?XT?\(5XB_Z!C_\`?Q/\:]KHH^IP
M[L/K4^QXI_PA7B+_`*!C_P#?Q/\`&C_A"O$7_0,?_OXG^->UT4?4X=V'UJ?8
M\4_X0KQ%_P!`Q_\`OXG^-'_"%>(O^@8__?Q/\:]KHH^IP[L/K4^QXI_PA7B+
M_H&/_P!_$_QH_P"$*\1?]`Q_^_B?XU[711]3AW8?6I]CQ3_A"O$7_0,?_OXG
M^-'_``A7B+_H&/\`]_$_QKVNBCZG#NP^M3['BG_"%>(O^@8__?Q/\:/^$*\1
M?]`Q_P#OXG^->UT4?4X=V'UJ?8\4_P"$*\1?]`Q_^_B?XT?\(5XB_P"@8_\`
MW\3_`!KVNBCZG#NP^M3['BG_``A7B+_H&/\`]_$_QH_X0KQ%_P!`Q_\`OXG^
M->UT4?4X=V'UJ?8\4_X0KQ%_T#'_`._B?XT?\(5XB_Z!C_\`?Q/\:]KHH^IP
M[L/K4^QXI_PA7B+_`*!C_P#?Q/\`&C_A"O$7_0,?_OXG^->UT4?4X=V'UJ?8
M\4_X0KQ%_P!`Q_\`OXG^-'_"%>(O^@8__?Q/\:]KHH^IP[L/K4^QXI_PA7B+
M_H&/_P!_$_QH_P"$*\1?]`Q_^_B?XU[711]3AW8?6I]CQ3_A"O$7_0,?_OXG
M^-'_``A7B+_H&/\`]_$_QKVNBCZG#NP^M3['BG_"%>(O^@8__?Q/\:/^$*\1
M?]`Q_P#OXG^->UT4?4X=V'UJ?8\4_P"$*\1?]`Q_^_B?XT?\(5XB_P"@8_\`
MW\3_`!KVNBCZG#NP^M3['BG_``A7B+_H&/\`]_$_QH_X0KQ%_P!`Q_\`OXG^
M->UT4?4X=V'UJ?8\7C\&>(5E0G3'P&!/[Q/7ZU[1116U*BJ=[&52JZEKF#XL
M\66'@_2H[^_261))1$L<*Y8\%F;'HJJS'V%;B.LD:NC!D8`JP.00>]>;:OJ+
MZK\1+AAH.H:SIND6KV6VT$147$P!ESO=>1&57C/WFK8^&>HRS>&FT>\BFAOM
M&E-E)%<8$@C`!B+8)&3&5Z$C(-:F9JZ_XGCT:ZM=/M[*?4=5O`QM[*W*@E5^
M\[,Q`11D<GN>,U#IGBJ6;6X]%UG29M*U&>-I;97E66.X5<;MCK_$,@E2`<<U
MEQEHOC#J2N56YN-#B^PM(,KA9'W@>OS%"0.U-CUGQ'I_CC0]'UJ;1+D:@EPP
M^R6TB21!$SG+.W!.!0!U&@ZS%K^DKJ$$3Q(TLL6V3&<QR,A/'J5)I/$.M0^'
M="NM6GBDEBME#,D>-QR0.,_6O.M"::_T[PUX?^V7%I9WUWJDUR]M(8Y)1%.^
M(@XY4$ODXP<+CUJ#Q>)='T3QEX?AO;B>PATZVO(3<RM,ULSRLI3>Q)*_(&`)
M..>U`'K]%<#-9OX2\3>'6M-5O[I-4GDMKV.[NFE$N(GD\X!CA""G.W`P<8Z5
MRKWUW$--UJP?7KJ274[=9-:N+DP6UQ'),%V1VQ<Y0JV!A1ZYH`]5TS6H=3U'
M5K*.*1'TVX6WD9L8<F-7R/;#@53UWQ.-*O[;2[+3Y]3U:Y1I8[2!E7;&I`,C
MNQ`1<D#/<\`&J'A+_D:?&G_83B_])HJ@L"(?C'K*7'^MGTFV>U)[QJ\@<#_@
M3+GZB@#1TGQ4]UK7]BZMI<^E:FT1GACDD66.=`0"4=>"1D9!`(SGI725A^(]
M:M='LKN53!)JD-A<75M`W+N$7)QWQG;FN+GL[C1/"6D>+(=:U"XU:5[-[@R7
M3O#=B9T5D$1.Q1ASMV@$8%`'J%%>3:K:WEQIOCS7#K.J1W&DW4S:>D5VZ1PF
M."-_N@X8$G!#9&.@&36QI]I<:'XP\-;=3O[EM7M+AK\7%PTB22*J.&5"=J8)
M884`8.*`/0:*\4L;74O^$$\/:ZGB#5UU6_U*.T>9KMG589)FC*B,Y7A2""1G
M(SFMK5KR[\$?\)9;Z7>7<L<&E6]Y!]LG>X\F5Y)(V<%R3C"JQ'3(H`]1K.U[
M5XM`T"^U>>-Y8K.%IG1,;F"C.!FN/U#37\':AX=N]/U34KF2]U&.QO$N[MYE
MNED5LOM8D*RD;LJ`,`CI7,:M92>(?A-K?BR]U;4$U":.Y/EK=,L,2+(R"#RL
M[2,+@DC.3G-`'JLFMPQ"^:2VNECL[5;IY3%\CJ0QVH?XF&WD=LCUJUIU]%J>
MF6E_`&$-U"DT8<8.U@",CUP:X'5HWU*Y\6V%Q<W0MH=$M9HXXKAXPK;9\D;2
M.N!D=\#-1:%L\*67@[4&OKE=+OM/%M=+<7+ND<K1"5'&XG:/D=>./F`H`],K
MF+SQ7=-K5YI6B:'-JD]CM^UR&=(8XV9=RH&;[S8(.`,#(R:?X(^W7'A_^U-1
MDF-QJDSWHBD8GR(W_P!7&!V`0+D>I-9\NBKJ6NZEJ_A3Q&^GWXE%MJ,?DK/!
M)+&HP'1L$,%*C*D<8H`W?#VOP^(;&6=+:XM)[>9K>XMKE0'BD7&5."01@@@@
MD$&M>O-I?$FJW4NGV5\8X+^P\20V5W)9.PBN$:)G!YY`(9<J2<$59\6ZE=6^
MJ^*8X+N9!;^%S.BI(1Y<FZ;#C'1N!SUX%`'H%%>9K:3^';/PGK4&LZC=WFH7
M5K;7@N+MY8[I9E^8A"=JE?O`J!@*>M4K33I]0\/>*]=F\0ZI%>Z?J.H&S=;U
MQ':K$[%5*9VL..0P/!P,4`>C1:U#+XFN=#$4@FM[6.Z:0XVE79U`'?/R'\ZT
MZ\IDDU+7=2U.\LWDMM4F\,:?>Q"(E2)1)+($^A(VD>A-='HFLOXL\5PZA93R
M+I%CI\;[%<A9;B<!\,!P=D87@]#)0!M^(?$5MX=M(9)89KFYN91!:VMNH:2>
M0Y(49P`,`DDD``5F0>+[NVU*RLO$&@SZ2+Z3R;6X-Q'-$TI!(C8J?E8X.,C!
MQUJKXC98?B=X-GN.(&CO88V/W1,R(5'U*JX'XUU-_>6%H;47\L,9GN%BM_-Q
M\TISM"Y_BX-`$&AZU#KMM=30Q21BWO)K1@^.6B<H2,=B16G7C<6E2Q^#O%_B
M*+5=1AO;#4=2GLUAN62*(I*YP4!VON(.=P/!Q6YX@F_MC7EMU76=5ECLXF_L
MW3)S:QVSOD^9+-O4$D8PO.`I..:`.]N+X6]]9VIM[B0W3.!)''N2/:N[YS_#
MG&!ZFK=>8>&-:U._MOA])<WT\CW+WJ7!,F?.")(%WD<,1M!SW/-9MO;7D'PY
M3Q<VM:M)JL-R7C+7C^6(Q<[/+,>=K*5SG()]^!0![`2%4LQ``Y)/:N-@\<:A
MJ5NVH:+X5OM0TA2=ET)HXWG`ZM%&QRP],XSVK;\60W%QX.UN&S#&YDL)TB"]
M2QC8#'OFF^#[BUNO!>B3694VS6,.S;T`"`8_#&/PH`MZ-K%GK^CVVJ:?(9+6
MX3<A(P1S@@CL0001ZBK]<+J%U:^)?$&BZ/8:@\>B7%K<WCO83&+[2T;HFP.F
M"`"[$X(S@5SVOW.I:3IGBG0;#5;U8[.YTUK.Y>9GF@\^90T>\G+`8R`<\/@Y
M%`'K=%>;'PSCQX-!&M:U_94NF_;9X3J$I:282;`?,SN4$-DJI`)`XXK/MYM0
MU30O">G3:U?PB36KRRFN$G*RS11?:`JLXY)(11GKWZ\T`>LT5YK>3/X8O/$.
MB0:[>V]@-,BNX;B8M=RV<CR-'M3<2S;L#:I)P<XJ+PY+=6'CO3K:&QUO3[&]
ML[AG35;_`,][AD\LB3878QD;CW&=W3B@#T^BO&]-AO+3X:Z-XM;6=5FU8W-M
MEI+QVC,;W"QF,QYVD;6/)&<\YK;U/6-1TAO$GAU+J9M0O;J+^R9'<EE6ZRIV
M]\1,LK>P`H`])HJ&UMQ:6<-NKR.(HU0/(Q9FP,9)/4^]34`%%%%`!1110`44
M44`%%%%`&?I.C6.B03PV,119[A[F4LQ9GD<Y9B3_`)XI8='LK?6KO5X8BEY=
MQ)%.X8X<)G;D=,C)&>N***`*^N>&]-\0I`;U)5GMF+V]S;RM%-"Q&"5=2",C
MJ.AJEIW@?1].U6#5<WEWJ<.[;>7ET\LF"I7;DG[N">,8YSUHHH`FE\':-+I4
M&G"&:*.VG>YMY(IW26&5F9F97!R,EV[XP<4Q?!6B?V/?Z;+#-<1:B0;R6>=W
MEG(QC<Y.>```.@HHH`73?!ND:9J$=[&+J:6"-HK9;FY>9+9&X*QJQ(4$`#UP
M,=*HGX:^''@2WDBO9+:$[K:W:^F,=J<Y!B&[Y".Q'3M110!OZ?H]GID]Y/;(
MXEO)%DG9W+%V5%0'G_9457USPUIOB#[.]XLR7-L2UO=6TS0S0D\':ZD'![CH
M:**`(='\):9HUU/>(;J\OIXQ%)=WT[3RF,<A,MT7V&!5>S\":'975M+&ET\-
MI)YMK:2W4CP6[\X9(R<`C)QZ=L444`7Y/#FF2V&K6+P,8-69WO%\QOG+H$;!
MSQ\JCI4\FCV4M]I]Z\1,^GHZ6[;C\H<`-QWX`ZT44`5(_"FD1:/8Z4ENPL[&
M=+B!/,;*NC[U.<Y/S<X-69M#TZYO;N[GMEEDO+5;.<.25>(%B%*]/XV_.BB@
M#/TSP7I.EWMO=QF\G>T4I:+=7<DRVRD8(C#$@<<9ZXXSBJM_\.O#NI->+<0W
M?V6\=I)[..[D2!Y#UD\L-C=GG/KSUHHH`VO["T_[5>W!@S)>VZ6L^6.'C3=M
M&.WWVZ>M<7XA\,P3:39>!++3]1GL9YX99KNX9Y8H($8$J)&)PV(P@7T?/K11
M0!Z(JA%"J`%`P`.U<[J'@O3;[5)M2AN-0T^\G`%Q)I]V\/G8&!O`."0.,XS[
MT44`/'@O0UT$Z,EJZ6QF^T;UF?SO.SN\WS,[M^0#NSFLG6O!UEIGA;Q+<Z=%
M>7.J7FE30/++.\\LY"-M').3DX&/I110!9\.>"=*T^+2[TQW9FMH%,%O<7,C
MQ6K%,-LC8X4\D>V2!BL3PYX$L-2@U>75K>_C^T:Q=O+;>?)%%=)YS%&>,$!Q
MC&#CD8ZBBB@#K-3CL]"GN/$$>FWEW=O!':M'91F1V168J`F<<%CS[^U5O`F@
M-X>\+0V\T"07=S(]W<QQ_=221MQ0>R@A?^`T44`:NLZ)I^OZ>;'4K<30[A(N
M&*LCCHRL""K#L0<UEZ=X)TRPU.'4I;C4=0N[<$6[ZA>//Y&1@[`QP"1QGK[T
M44`71X:TL:-J.D^0WV/4'F>Y3S&RQE)+\YR,DGITJK?^"](U"\-R_P!LA>2)
M()Q;7<D*SQKG:L@4C=C)'K@XHHH`?IO@[1-):S-E;21K932S6L?G.RPF1=KA
M03@*03\O0$DBIO\`A&-*_P"$<.@_9V_LXDGR_,;/W]_WLY^]S110!L5R4WPZ
MT5WG6WFU.RM;AF>>SM+^2*"0M][Y`<#/?;BBB@#2O/">CWEA86BP/:KIXQ9R
M6DK0O;\;?E93G!'!'0]ZCC\':,FD3::T$LL4]PEU/)+.[RS2JRLK,Y.2<HO?
M&!CI110!I_V7:'61JWEG[8+<VP?<<>7NW8QTZCK7(^(/"-E)<>&M,@L[@V`U
M2>YF,4C@Q,\4S[]X.5_>,,'/!(%%%`&Q!X(T2+3-0L98KBY74"INYKFX>2:4
MK]W,A.X;<#&",=J9;>!M&MM2M]2+7\^HP-E+N>]E>3;_`'"2W*>J]#110!;'
MA72%\.0:`+=O[.@:-HX_,;(*.'7YLY^\`:QK>T_X2'XA1:Q-I5S:PZ+;R6\$
JMU%L,TTC88IZHJKP>_F'THHH`[.BBB@`HHHH`****`"BBB@`HHHH`__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_004.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_004.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!PD'!@H)"`D+"PH,#QD0#PX.
M#QX6%Q(9)"`F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$!`)C!&2T4^2CD_0#W_
MVP!#`0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P``1"`!L`1,#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V:BBB@"KJ
M$EY':,VGPQ33CHLC[0:Y)_&-[-'+:/&FGZBA^7S%RC_[)S]TGL>17;UA>)_#
MD>MVADB55O(Q^[?^]_LGV_E6512M>+-*;C>TD9=IX[`LXGO+?]XC^7<;#@J.
MS`=QZCM70ZIJ\&G:0]\7#(4S'@_?)'`%>665D;F[=+AFACA!>=R.44=?QSP/
M<TNH:E)?^5&`8[6`;8(<Y"#W]3ZFN=5Y*.INZ,6]#J+/Q--I_@U6N'WWDK.E
MOD\[?[Q]AS^0K6T_Q`++0-+.HLTEW=%45?XF!.-Q_#%>=PRKYR-<(TRH`%CS
MP<=!]/I73:/$'UZVO=<E_P!*E<+;VH'S#T)7^%1V%%.I)O\``)TXI'H5%%%=
MIR!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4456U"YDL[*2>&W>Y=,8B3[S<]J&[`M1MYJEEI[*MY=10LXR
MH=@":Q)_'5C"`XMKIH&8JLH4`-CKC)S5+79[;45>^9%2"&%8V>9""S$YV#C)
MQWQC)P,@5PS[3(QCSMSQGKBN6K6E%Z'33I1:U.D\23VD]J]_IS9CU&51(",%
M2@.01[DJ:YFM"0$>'(#C@W<F/^^%K/KEF[NYT05E8D@($P)G\@#^/!./RKT#
MP;I%BD!U"-)Y)F)59KA=I([E1V'N>:Y;PW8O=W\<<-Q9+(W.)(O-<`=<`C`_
M&NY\1Q7!L8#'')-;QR!KF*(X>2/';'O@XK>C&RYV8UI7?*C:HKD;#PWI&K7'
MVZUNY'M<C_1D8@*?1LG/X<5UJJ$4*H`4#``[5UQDWJSFDDMA:***HD****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`QK
M[Q1I]C<K"\A8B39(1QY?N<]1],UHB_M#TNH/^_@K+UGPS9ZEY]Q+'--<$#8!
M-MVX'1<\"N8/P\O/L?F"X@^T=?*P<8]-WK^%8RE4B]KFJC!K>P>/KXW&I6]N
MCAH8XMXP<@DD\_D*Y2MC4-,NHM-3[1;O%-8_NY`1PR,Q*L#T/)(_*L>N*HVY
M79UTTE&R)'GDDBCC9R8X\[%[+GK4?>BM"'1;AH1/=/'96YZ27!VEO]U>I_*I
M2;*;2+VE^+;C2CB&QL@A^\$CV$_CFN@A\97EYAM/LX[DC[T&2LJ^_HP]Q^58
M5GX2?5+%[C3;KS0AVCS(C&'/^R<_S%8B/<:=>AEWPW,#_0J16JG4@E?8R<(2
M>FYVVG6^H7?BB&_CTM],CVG[22W$OX>M=E65H^O6VI:9#</+%%(PPZ,X!##K
M6K79322T>YRS;;U04445H0%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%)D`@9&37BL_Q\O(;B2/\`L.W.QBN?M#<X
M/TK&O_BZNI71N+K0MTA&`1?.H4>@`'%)WZ#5NIV_BW7WU?4#;0,3:0MM0#_E
MHW3=_A6U:>`D_LK;<2@7DN-SD9$0[A1W/;)KRNU^*MI:*P3PS;L&*M^\NF8@
M@Y&#C(K8_P"&@;S_`*`5O_X$-_A6$:-VY3U-I5;)*!ZA8:%HF@D,QB,ZC<9+
MAQN`]0#T_"N-UGS?$OB6X?2X7N%`5%*CC`&,Y/09KA;KXHVU[<23W/AX232-
MN9S>OGZ=.E:>G_'!]+M5M[/P];I&/^GAB3[D[>:)4G+W=D)5%'WMV>Q^&K&?
M3M!M[:Z0),F[<H(.,DGJ*RM9\%_VOK,EV+I8(W5<@)N)8<9_E7G7_#0-Y_T`
MK?\`\"&_PH_X:!O/^@%;_P#@0W^%:NG%Q460IM/F1TFN^#)](M&NXIUN(DQO
M^3:R^_TKM_#NJKJ^CPS@CS5&R4>C#_'K7A][\75U"ZDN+C0R7D7:P6_D48],
M`8Q75>`/'D5UI^LR6NCQVWV1(Y#_`*0SF0LVW!)'&*SC#V<FUL7*?/%)[GK5
M%<'_`,+%N/\`H'Q?]_3_`(4?\+%N/^@?%_W\/^%/ZQ3[B]C/L=Y17!_\+%N/
M^@?%_P!_#_A1_P`+%N/^@?%_W\/^%'UBGW#V,^QWE%<'_P`+%N/^@?%_W\/^
M%'_"Q;C_`*!\7_?P_P"%'UBGW#V,^QWE%<'_`,+%N/\`H'Q?]_#_`(4?\+%N
M/^@?%_W\/^%'UBGW#V,^QWE%<'_PL6X_Z!\7_?P_X4?\+%N/^@?%_P!_#_A1
M]8I]P]C/L=Y17!_\+%N/^@?%_P!_#_A1_P`+%N/^@?%_W\/^%'UBGW#V,^QW
ME%<'_P`+%N/^@?%_W\/^%'_"Q;C_`*!\7_?P_P"%'UBGW#V,^QWE%<'_`,+%
MN/\`H'Q?]_#_`(4?\+%N/^@?%_W\/^%'UBGW#V,^QWE%<'_PL6X_Z!\7_?P_
MX4?\+%N/^@?%_P!_#_A1]8I]P]C/L=Y17!_\+%N/^@?%_P!_#_A1_P`+%N/^
M@?%_W\/^%'UBGW#V,^QWE%<'_P`+%N/^@?%_W\/^%'_"Q;C_`*!\7_?P_P"%
M'UBGW#V,^QWE%<'_`,+%N/\`H'Q?]_#_`(4?\+%N/^@?%_W]/^%'UBGW#V,^
MQWE%8VDZX^I:9#=-`J&3/RALXP2/Z45HI)JZ(<6G8^4[[_C_`+C_`*ZM_,UZ
MI\/OAEH'B;PC!J>IS7B3R3/'^[E55X;`X*FO*[[_`(_[C_KJW\S7L?AFZEL?
M@%/>6Y*S6\YF0^ZS*?Z51)R?ASX=IJ'Q)O\`0;]IEL['S'ED0@,4'W#G'?*G
M\Z?\4O`^D^#X]+?29+EUN]Y8S.&X&W&,`>M>E^*;NRTCPMK'BVQ8?:-8LX(H
MR/4@@$>^&S_P&N3^.D?EZ=X;3!^6.1?R"4`8_P`-_`FB>)O#NI:EK,EVGV.0
MC]PX`V!-QX(.344]K\+1;R&"^UHR[3L#+QNQQ_#ZUU7P6G:T\":_<(JNT4C.
M%89!(B!P?:N/U+XM:AJ6F7-E)H^D1I<1-&7C@(901C(YZT`8'@WPI<^,=?CT
MZV<1(%,DTQ&1&@ZG'<\@#ZUWESX;^&6GZH="NM0O_MRMY3W._P"1']"<;1S[
M8'<UE?!37K/1_%DUO>R+$M]#Y4<C'`#@@@$^_/XXJSK?P<\177C"Y%LL3V-S
M<-(+MI!A%9L_,O7(SV'-`'#^*-(M-#UV>RL-2AU&W0_+/$<CZ'MD>W%=9\+_
M`/D$^)_^O>#_`-&5R?B?0?\`A&M<FTTWMO>-%C,D!)`/H?0^HYKK/A?_`,@G
MQ/\`]>\'_HRHJ?`RH?$C;/`-:6M:?%ITEHL)<B:V29MQS@GKCVK-;[I^E;OB
MG_7Z;_UX15YR7NL[V]4'B#08],(ELY&E@!"2[N6B<@'!]B#Q5*[L8H-&T^[0
ML9+DR!P3P-IP,5L:OJ`T_P`5W:SH9+2XCC2XB_O+L'(]QU%0^(K-;'1=*ACE
M6:+=,T<B_P`2D@@_7!K245[S7]:D1D]$R.>RT>PLK![M+Z26Z@$I,4B@#\"*
MK:AIENNG+J.FS22VI?RW64`/$W8''4'UJ]K%A=W>G:*UM:SS*+,`F-"P!S[5
M'/;R:3X4FMKP>7=7DZND)^\JKW([4FM]-`3VU*6M:?%ITUJL+.1-;),VXYY;
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MLGA3493!#.!<QC9,NY>GI3TO\OT#6WS_`%(8-/TS58KA=/-W#<PQ-,%G*LK@
M=1D=#56TL(I]!O[UB_FV[QJ@!X(8\YK86\;4/#ERVEV]O:W48Q=QP1@-)$>Z
MGKCU%4=/_P"10UCT\V'^=)I?@PN_Q*VB:=%J%ZPNG:.TAC:6=UZA1_\`7J+5
M[#^S-4GM@2R*=T;'^)",@UKP&TTKPTL=_'.SZF?,*PL%81K]W.>Q/-,UG[/J
M>A6M_9K*!:'[+()2&;;U4DC\J'%<OF-2?-Y%#5]/BL$L#$7/VBU69]QSACZ>
MU9U=)KFG7EW;Z0]K:3S(+%`6C0L`>>*Y^>WFM93%<1/%(!DJZX/Y5,XV8X.Z
M+DUA%'X>M;Y2_FS3/&P)XP.F*=I::7.\4%['>&>60(&B=0H!(`X(S5XV=S>>
M#;`6MO+,5N9"1&I;`_"L^ULKFSU>Q%U;RPEITVB1"N?F'K3:LT[=A7NGJ3ZS
M;Z58S7-I;1WOVF%]@>212AQUX`S5B[L-&TZ"R^U)?R27-NLQ,4B@#/;!%4?$
M7_(Q:C_UW:M/7M/O+N#2'MK6>918H"8XRP!].*?\UD+MJ9^H:9!'81ZAITSR
MVCOY;"0`/$_H<<'ZUEUT36%Q:^'%TUXB;^]N1*EN,;U11U([=*YYE*L588(.
M"/0U$U8N+N>@>%O^1=M?^!_^AFBCPM_R+MK_`,#_`/0S17;#X4<D_B9\SWP/
MV^XX_P"6K?S-*M_>):&U6ZG6W;K$)"$/_`>E?7_V6#_GA%_WP*3[+;_\\(O^
M^!6YB?(#WUW+;);R7,[P)]V)I"57Z#H*6YOKR]"B[N9YPGW?-D+;?IFOK[[+
M;_\`/"+_`+X%'V6W_P">$7_?`H`^08+^\M8GBM[JXAC?[R1R,H;Z@=:KX/I7
MV-]EM_\`GA%_WP*/LMO_`,\(O^^!0!\<X/I6F/$NN+:?95U?4!;XQY8N'VX]
M,9KZS^RV_P#SPB_[X%'V6W_YX1?]\"@#XY.2<G.:]#^%_P#R"?$__7O!_P"C
M*^@_LMO_`,\(O^^!3E@B0';$BYZX4#-*2NFAQ=FF>*TYY'D(\QV;:,#<2<#T
MKVGR8_\`GFGY"CRH_P#GFGY"N7ZKYG3]8\CQ9Y'D8M(S.Q[L2309'9%1G8JO
MW5).%^@[5[3Y4?\`SS3\A1Y,?_/-/R%'U5]P^L>1XTE[=1H%2YN%4<`+(P`J
M)G9V+.S,QZEB237M7E1_\\T_(4>3'_SS3\A1]6?<7UA=CQJWO;FTS]FN)H0W
M41N5S^51.[2.7D9G<]68DD_C7M7DQ_\`/-/R%'E1_P#/-/R%'U9]P^L+L>-6
M][=6F?LUS-#GKY;E<_E4<LTD\ADFD>1SU9R2?S->T^3'_P`\T_(4>5'_`,\T
M_(4?5GW#ZPNQXL9'9%0LQ1>0I)P/H*!(XC*!F"$Y*Y."?I7M/DQ_\\T_(4>3
M'_SS3\A1]5\Q_6/(\6CE>)MT;NC8QE20<4@D=49`S!&^\H)P?J*]J\J/_GFG
M_?(H\J/_`)YI^0H^J^8?6/(\6>1Y,;W=MHP-Q)P/04"1U1D5V"-]Y03@_45[
M3Y,?_/-/R%'DQ_\`/-/R%'U7S#ZQY'C2WUTBA4NKA5'``D8`5')+),^^5W=O
M[S$D_F:]I\F/_GFGY"CR8_\`GFGY"CZL^XOK"['C,=W<0IMBN)HU]$<@?I22
M7,\K*TLTKLOW2SDD?2O9_)C_`.>:?D*/)C_YYI^0H^K/N'UA=CQ5G9V+.S,Q
MY)/)-2K?72*%2ZN%4#``D8`5[+Y,?_/-/R%'DQ_\\T_(4?5GW#ZPNQXL)I!+
MYHDD$G]_<=WYTTG)R<Y->U^3'_SS3\A1Y,?_`#S3\A1]5\Q_6/(Y7PM_R+MK
M_P`#_P#0VHKJPJ@8"@#V%%;QA9)&#G=W.(N==G7Q"VL`7G]F6\_V,LH_<&+[
MKR$YZB3'..BGUK6\2-YNJZ7:7+$64PF+)YA19I54%(V8=C\QQWQWQ6^+>$0&
M`11^2008]HVX/;%-N+6"[@,-S!'-$>J2*&4_@:T(.(M]42UD*VT4L8LK]M]M
M'=><F?LKOL0XZ<?=[&I-5U^^-C&DES9%Y!;7230EE2+=,B[7.3E3G@\9P>*[
M*"QM;9%6"VAB53E0D84`XQD8]C3$TRQCCDC2SMU20Y=1$H#'U(QS0!S-UXIO
MH/.ME>T>Y@F=#)'&6$BJBOD*6`7&\!LMQVSGBYX8U*35+Z]NF;B:VM)0@?*H
M6C)(%;/]EV!A2$V5MY49W(GE+M4^H&.#4T-O#;@B"&.,'KL4#^5`'(Z/#IUS
MI%OJ6HWDD6J/<;99O/*R++YF/*QZ?P[<8Q^=*WBZ^CL5O2MHRSQ7#QVXSYD)
MB5B-YSR/EPW`P2*ZC^S;+[;]K^QV_P!I_P">WEKO_/K3EL+19995M8!),,2,
M(QEQZ$]Z`.;77M8AOGCN38-'!-;1R>6C`N)B!QEN-N>O.?:J\7B76IXDD7^S
ME$MO<W"@QN=HA?;C[W.[(YXQ[UV!MX223$A)().T<D=/RI!;0``"&,``J`%'
M`/4?C0!S'_"4W;[[F-;8013P0&U.3-)Y@0[E.?\`;X&#D*>?3+O/$%W<FUOI
M)K?RY+&[F6UB=E=-NT8<@\D>H`P<UW'V&T^T)/\`9H/.0;4D\L;E'H#VI!IM
MDLLDBVEN))<[V$2Y?/7)QS0!S$>N76D7VJ7&H7,4MC'?F)P%(:$&)2F.3P6P
M/JV:T-6>>Y\*1"_N8M/NK@Q!N6"!BP/EL0<@'[I.1UJQJFFV]W?6L;J%2:0/
M.%51YVSYD#'&2`0*U988[B)HIHTDC<89'4$$>X-`'(Z=J*Z1J1LEMX[=Y+B)
M)E2Y,L"ADD(*9QM8E.01Z'O2R>*[R>;;:S:=%&L%S/OER0XBE*`###@@<GG'
MI72II5A':M;)96PMV.6B$2[2?4C&*HR:+82Z[$\EM$RQVI1(C&I1?G!R!C@Y
MH`R8O%E[-</+BT2!+BVA^RMGSV\Y$.<YZ@OTQR%/2HM%U^[@L;&P`2:YN@IM
MG<D[EWL)2QSSM`S^(K>L=+M4U;4+LPH]P\X82.@+)^[484XR!Q2V]C&=?EG)
M/^C1".",!0D0?EB`!U.T4`4=62*\\5VECJ3D6+6KR1Q%RJ2RA@#GGYB%Y`]R
M>U9K2O:ZK`F@7Z2P0VMVQ^T.TJ@J\?R#!&0#D9).!FNNNK.VOHO*N[>*>/.=
MLJ!AGUP:6.TMXD1(H(D5%**%0`*IZ@>WM0!R;>,K@WMB8U@^SS26T4B[3E&E
M53@N2.1N&``>.I'9D/B344TUYK=;58;6S6ZD67>[/F212H8MQPG4YYKJVTRQ
M>02/9V[.%"AC$I(`Z#..E2BU@"LH@BVLNTC8,$>GTY/YT`8GB1UDN](MKJ1H
M]/N9V6<AR@<A"40D=B>W?`'>JYN+?2KL6&B74:FXN!&XF<R16I$9;`&1RP'W
M<X[_`%Z2>WAN86AN(DEB;AD=0RG\#4"Z78K9_9%LK86V<^4(EV9]<8Q0!RLW
MBW53!-);I8XM;62>0D,1,4E:/Y3GA6"YSSCWJW)KVIQ7G]GR2Z>EQ]L6`SLC
M!`K0F087=][(QUYKI!:6X38((@NSR\;!C;_=^GM5+4M,M;V[LC<0HZB5F960
M%7/ELOS`CG@T`<U>>-;R"R$\8M6,*%Y@JDJX$C)N#%@%5MI(^\?;CF]_;^J-
M=.4%EY+7\EA"A5MV0C,KEL^HP0!T[UT#Z;92>7YEG;MY2[$W1*=B^@XX%)=0
M10V,IACCC**SH50?*V#\P&,9H`H:!K<FN&658U2WB1$;KN$^,R+]%X'US6U5
G'1[1++2X8XRS%@9'=L;G=CN9CCN235Z@`HHHH`****`"BBB@#__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>p14-0417exhibit_10.htm
<DESCRIPTION>EXHIBIT 10
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">EXHIBIT 10</P>

<P STYLE="font: bold 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">MFC Industrial Ltd.<BR>
Suite #1620 &#8211; 400 Burrard Street</P>

<P STYLE="font: bold 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">Vancouver, British Columbia, Canada V6C 3A6</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 6pt 1.5in; text-align: right; text-indent: 76.5pt">February 7,
2014</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0">IAT Reinsurance Company Ltd.<BR>
48 Wall Street, 30<SUP>th</SUP> Floor<BR>
New York, NY 10005<BR>
Attn:&#9;Mr. Peter R. Kellogg&#9;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0in; border-bottom: Black 0.5pt solid"><B>Re:
Mutual Settlement Agreement</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">This letter constitutes
an agreement (the &#8220;<B>Agreement</B>&#8221;) among Peter R. Kellogg (&#8220;<B>Mr. Kellogg</B>&#8221;), IAT Reinsurance Company
Ltd., a Bermuda limited liability company (&#8220;<B>IAT</B>&#8221;, and together with Mr. Kellogg, the &#8220;<B>IAT Group</B>&#8221;)
and MFC Industrial Ltd., a British Columbia corporation (the &#8220;<B>Company</B>&#8221;).</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 6pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, the
IAT Group collectively may be deemed to beneficially own an aggregate of 20,662,400 Shares (as defined herein) of the Company,
which represents approximately 33% of the issued and outstanding Shares;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><B>AND WHEREAS</B>,
the IAT Group and the Company were engaged in a contested solicitation of proxies from the Company&#8217;s shareholders at the
2013 annual general and special meeting of the Company&#8217;s shareholders held on December 27, 2013; and</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><B>AND WHEREAS</B>,
the Company and the IAT Group desire to mutually resolve the Lawsuits (as defined herein) and all matters related thereto and,
in furtherance thereof, undertake the actions and agreements contained herein.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>,
in consideration of the promises and the representations, warranties and agreements contained herein, and other good and valuable
consideration, the parties hereto mutually agree as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">1.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">As used in this Agreement, the following terms shall have the following
meanings:</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: left; text-indent: 1in">&#8220;<B>affiliate</B>&#8221;
shall have the respective meanings ascribed to such terms in Rule 12b-2 of the General Rules and Regulations under the Exchange
Act and shall include Persons who become affiliates of any Person subsequent to the date of this Agreement and, in the case of
the IAT Group, includes, without limitation, each of the IAT Subsidiaries and the entities and/or persons set forth in Schedule
&#8220;A&#8221; hereto;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Articles</B>&#8221;
means the Articles of the Company;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Audit Committee</B>&#8221;
means the Audit Committee of the Board;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>beneficial ownership</B>&#8221;
shall have the meaning ascribed to such term in Rule 13d-3 of the Exchange Act and shall also include ownership, directly or indirectly,
through derivative securities, but for greater certainty, shall not be deemed to include the reference shares in connection with
cash settled swap transactions;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Board</B>&#8221;
means the board of directors of the Company;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>business day</B>&#8221;
means any day other than a Saturday, Sunday or a day on which banks in Vancouver, British Columbia or Toronto, Ontario are authorized
or obligated by applicable law or executive order to close or are otherwise generally closed;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Exchange Act</B>&#8221;
means the Securities Exchange Act of 1934 and the rules and regulations promulgated thereunder, each as amended from time to time;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Existing Directors</B>&#8221;
means the members of the Board as of the date of this Agreement and any other member of the Board appointed pursuant to Section
3 or elected by shareholders of the Company upon the recommendation of the then Existing Directors;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>IAT Subsidiaries</B>&#8221;
means all of the insurance subsidiaries of IAT, including: Acceptance Casualty Insurance Company, Acceptance Indemnity Insurance
Company, Harco National Insurance Company, Occidental Fire &amp; Casualty Company of North Carolina, Transguard Insurance Company
of America, Inc. and Wilshire Insurance Company;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Indirect Proposals</B>&#8221;
means any proposal, motion or resolution proposed, made or put forward at or in respect of any meeting of Shareholders of the Company
to: (i)&nbsp;increase the number of directors of the Company above seven; (ii) remove, replace or dismiss any Existing Director;
(iii)&nbsp;elect as directors any persons not nominated by the Board; and (iv)&nbsp;amend, replace, alter, remove or otherwise
change howsoever the &quot;staggered&quot; nature of the Board or the terms or provisions of the Articles related thereto;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Lawsuits</B>&#8221;
means, collectively, (i) the complaints filed by the Company on November 25, 2013, against the IAT Group and certain other persons
named therein in United States federal district court in New York, which was amended on January 6, 2014, and in Supreme Court of
British Columbia, which was amended on December 2, 2013 (ii) the petition commenced by the IAT Group on December 10, 2013 against
the Company and Michael Smith in Canadian provincial court in British Columbia;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Shares</B>&#8221;
means the common shares of the Company;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">&#8220;<B>Term</B>&#8221;
shall have the meaning ascribed to such term in Section 13 of this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">2.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">(a)&#9;The Company represents and warrants to the IAT Group, and acknowledges
that the IAT Group is relying on such representations and warranties in connection with entering into this Agreement, as follows:</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(i) &#9;The Company is a corporation
duly organized, validly existing and in good standing under the laws of the Province of British Columbia and has the requisite</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify">power, authority and legal capacity to execute,
deliver and perform and to consummate the transactions contemplated by this Agreement.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(ii)&#9;The execution and
delivery of each of this Agreement and the Mutual Release by the Company has been duly authorized by all necessary action and no
other proceedings on the part of the Company are necessary to authorize this Agreement.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="background-color: yellow">&nbsp;</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iii) &#9;This Agreement constitutes
a legal, valid, and binding obligation of such party, enforceable against such party in accordance with its terms, except as such
enforcement may be limited by any applicable bankruptcy, insolvency, moratorium or similar law affecting creditors' rights generally.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iv)&#9;The execution and
delivery of each of this Agreement and the Mutual Release by the Company and the performance and consummation by the Company of
its obligations contemplated hereby and thereby do not (A) violate or breach any law, statute, rule, regulation or order to which
the Company is subject or any provision of the organizational documents of the Company; and B) require any consent of any United
States, Canadian or Bermudian (federal, state, provincial, local) or foreign court or tribunal, or administrative, governmental
or regulatory body, agency or authority or other person is required to be obtained by such party in connection with the execution
and delivery by such party of this Agreement (except to the extent already obtained).</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in">(b)&#9;Each of IAT and
Mr. Kellogg jointly and severally represents and warrants to the Company, and acknowledges that the Company is relying on such
representations and warranties in connection with entering into this Agreement, as follows:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(i) &#9;IAT is a corporation
duly organized, validly existing and in good standing under the laws of Bermuda and each of IAT and Mr. Kellogg has the requisite
power, authority and legal capacity to execute, deliver and perform and to consummate the transactions contemplated by this Agreement.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(ii)&#9;The execution and
delivery of each of this Agreement and the Mutual Release by IAT has been duly authorized by all necessary action and no other
proceedings on the part of IAT are necessary to authorize this Agreement.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iii) &#9;Each of this Agreement
and the Mutual Release constitutes a legal, valid, and binding obligation of such party, enforceable against such party in accordance
with its terms, except as such enforcement may be limited by any applicable bankruptcy, insolvency, moratorium or similar law affecting
creditors' rights generally.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iv)&#9;The execution and
delivery of each of this Agreement and the Mutual Release by the IAT Group and the performance and consummation by the IAT Group
of its obligations hereby and thereby do not (A) violate or breach any law, statute, rule, regulation or order to which IAT, Mr.
Kellogg or the IAT Subsidiaries is subject or any provision of the organizational documents of IAT or the IAT Subsidiaries; and
(B) require any consent of any United States, Canadian or Bermudian (federal, state, provincial, local) or foreign court or tribunal,
or administrative, governmental or regulatory body, agency or authority or other person </P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify">is required to be obtained by such party
in connection with the execution and delivery by such party of this Agreement (except to the extent already obtained).</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(vi)&#9;The IAT Group beneficially
owns and has voting and dispositive power over a total of 20,662,400 Shares of the Company as set forth at Schedule &#8220;A&#8221;
hereto and Kellogg has sole voting control over all such Shares and have no other interest (including convertible securities) in
the securities of the Company<B>.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">3.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">On or prior to the date hereof, the Board has passed a resolution fixing
the number of directors of the Company at seven (7), subject to the filing of the Notices of Dismissal of All Claims With Prejudice
pursuant to Sections 8(a) and 8(b) hereof. The Company covenants that during the Term, the number of directors of the Company shall
not be increased from seven directors unless such increase is approved by at least 6 of the 7 directors of the Company. The vacancy
on the Board resulting from the increase in the number of directors of the Company to seven shall be filled within one hundred
and twenty (120) days from the date hereof by a person who is qualified to act as a director of the Company and who is selected
and approved by mutual written agreement of the Company and IAT. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">4.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">The Board has approved the following amendments to the Articles to remove
the casting vote of the chair at shareholders&#8217; and directors&#8217; meetings:</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">(i)&#9;an amendment to
Section 8.20 of the Articles by deleting the title of Section 8.20 of the Articles and replacing it with the following word: &#8220;Equality
of votes decided in the negative&#8221; and further by deleting all of the words in Section 8.20 of the Articles and replacing
them with the following words:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 12pt 0.5in; text-align: justify; text-indent: 0in">&#8220;In the
case of an equality of votes by shareholders on any question at a meeting of shareholders, such question shall be deemed to have
not been passed, and, for the avoidance of doubt, the chair of a meeting of shareholders shall not have a casting or second vote.&#8221;;
and</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">(ii)&#9;an amendment
to Section 12.3 of the Articles by deleting all of the words in Section 12.3 of the Articles and replacing them with the following
words:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 12pt 0.5in; text-align: justify; text-indent: 0in">&#8220;Questions
arising at any meeting of directors are to be decided by a majority of votes and, in the case of an equality of votes, such question
shall be deemed to have not been passed, and, for the avoidance of doubt, the chair of the meeting shall not have a casting or
second vote.&#8221;.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">5.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">The Company covenants that during the Term, the amended sections of
the Articles referenced in Section 4 of this Agreement shall not be further amended unless such amendment is approved by at least
6 of the 7 directors of the Company. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">6.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif"> (a) During the Term, the IAT Group agree, on behalf of themselves and
their respective affiliates, that they shall not and shall cause their respective affiliates not to, except pursuant to a negotiated
transaction with the IAT Group and/or any of their respective affiliates approved by the Board: </FONT></P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">make, effect, initiate, cause or participate in (A) any acquisition of beneficial ownership of
any securities of the Company or any subsidiary or other affiliate or associate of the Company; or (B) any &#8220;solicitation&#8221;
of &#8220;proxies&#8221; (as those terms are defined in the Exchange Act or Canadian National Instrument 51-102) or consents with
respect to any securities of the Company;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">form or join in a partnership, limited partnership, syndicate or other group, including, without
limitation, a group as such term is used in Section 13(d) of the Exchange Act, with respect to the Shares or otherwise support
or participate in any effort by a third party, with respect to the matters set forth in Section 6(a)(i) above, or deposit any Shares
in a voting trust or subject any Shares to any voting agreement, other than in each case solely with its affiliates (which affiliates
the IAT Group shall cause to be subject to the same restrictions set forth herein as if they were parties hereto) with respect
to the Shares now or hereafter owned by the IAT Group or pursuant to this Agreement;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">except pursuant to Section 3 above, nominate or seek to nominate any person to the Board or otherwise
act, alone or in concert with others to seek to control or publicly influence the management, Board, or policies of the Company
(other than through Mr. Kellogg and Mr. Horn in their capacities as members of the Board);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">take any action which might force the Company to make a public announcement regarding any of the
types of matters set forth in subsection (a) of this Section 6;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(v)</TD><TD STYLE="text-align: justify">request or propose that the Company (or its directors, officers, employees or agents), directly
or indirectly, amend or waive any provision of this Section 6, including this subsection (v);</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vi)</TD><TD STYLE="text-align: justify">agree or offer to take, or encourage or propose (publicly or otherwise) the taking of, any action
referred to in subsections (i), (ii), (iii), (iv), or (v) of this Section 6;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(vii)</TD><TD STYLE="text-align: justify">assist, induce or encourage any other person or entity to take any action referred to in subsections
(i), (ii), (iii), (iv), or (v) of this Section 6; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(viii)</TD><TD STYLE="text-align: justify">enter into any discussions or arrangements with any third party with respect to the taking of any
action referred to in subsections (i), (ii), (iii), (iv), or (v) of this Section 6.</TD></TR></TABLE>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">(b)&#9;During the Term,
the IAT Group agree, on behalf of themselves and their respective affiliates that they shall, with respect to any proposal approved
by the Board and submitted to the shareholders of the Company relating to: (i) the election of directors of the Company; (ii) the
appointment of auditors of the Company; and (iii) the approval of financial statements of the Company (collectively, the &#8220;<B>Proposals</B>&#8221;),
vote any and all Shares beneficially owned by them as of the date hereof, or any Shares acquired by the IAT Group and their respective
affiliates after the date of this Agreement, whether pursuant to the exercise of any convertible security beneficially owned by
them or otherwise: (i)&nbsp; in favour of the Proposals and as recommended by the Board; and (ii) in respect of Indirect Proposals,
as recommended by the Board. The </P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify">foregoing voting restrictions
do not apply if there is any change in the majority of the then Existing Directors following the date of this Agreement. The IAT
Group further covenant and agree that they will deposit, or cause the deposit, of duly executed and valid proxies or voting instruction
forms to vote as provided for in this Section 6(b), with the Company at least four (4) business days prior to the deadline for
depositing proxies as set forth in the notice of meeting relating to such proposal.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">(c)&#9;During the Term,
the IAT Group agree, on behalf of themselves and their respective affiliates that each person comprising the IAT Group and their
respective affiliates will only sell, transfer or otherwise dispose of Shares in open market transactions on the New York Stock
Exchange or on such principal stock exchange as the Shares are then listed for trading or in private transactions so long as any
sale in any private transaction is not to any person or group (as defined in Section 13(d)(3) of the Exchange Act) who any member
of the IAT Group knows, or has reason to know, beneficially owns or as a result of such transaction would beneficially own more
than 5% of the then outstanding Shares.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">(d)&#9;During the Term,
the IAT Group agree, on behalf of themselves and their respective affiliates, that neither the IAT Group nor any of their respective
affiliates or associate will engage in the short sale of Shares beneficially owned by the IAT Group or any of their respective
affiliates, nor will they permit such Shares to be used for lending or otherwise by any third party in connection with short selling
transactions or any other derivative transactions with similar economic effect.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">(e)&#9;Notwithstanding
the foregoing provisions of this Article 6, upon the occurrence of any of the following events, the obligations of the IAT Group
under this Article 6 will terminate immediately and nothing in this Agreement will prohibit the IAT Group or any of its affiliates
from undertaking any of the actions specified in the foregoing provisions of this Article 7:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Company approves or enters into or announces the approval or entering into, of an agreement,
transaction or proposal with a person (in this section, a &#8220;<B>Supported Acquiror</B>&#8221;) other than the IAT Group or
any of its affiliates, a person under common control with the IAT Group or any of its affiliates, or a person acting jointly or
in concert with the IAT Group or any of its affiliates or a person under common control with the IAT Group or any of its affiliates,
in each case having as its object the acquisition, directly or indirectly, of: (i) such number of the outstanding Shares of the
Company as would, when added to the shareholdings of the Supported Acquiror, a person under common control with the Supported Acquiror
or a person acting jointly or in concert with the Supported Acquiror or a person under common control with the Supported Acquiror,
constitute more than 50% of the outstanding Shares; or (ii) all or substantially all of the Company&#8217;s assets; or</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">a third party publicly commences a bona fide formal take-over bid to the Company&#8217;s shareholders
under applicable securities laws for more than 50% of the Shares; or</TD></TR></TABLE>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Book Antiqua, Times, Serif; margin-top: 12pt; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">a third party enters into an agreement with the Company to acquire, or acquires, beneficial ownership
of more than 50% of the Shares,</TD></TR></TABLE>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 12pt 0.5in; text-align: justify; text-indent: 0in">provided that
the obligations of the Kellogg Group under Article 6 shall be reinstated under this Agreement immediately in the event that such
take-over bid, agreement or transaction referred to in (i), (ii) or (iii) above, as applicable, is terminated or withdrawn without
being successful or completed.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">(f)&#9;In the event that
during the Term the Company waives the application of the shareholder rights plan agreement between the Company and Computershare
Inc. dated November 11, 2013, or waives the application of any other shareholder rights plan adopted by the Company after the date
hereof, in each case for the benefit of any person other than the IAT Group, the Company shall also concurrently waive the application
of such rights plan for the benefit of the IAT Group and the IAT Group&#8217;s obligations under Section 6(a)(i) shall immediately
terminate.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">(g)&#9;Notwithstanding
Section 6(a) or any other provision of this Agreement to the contrary, Mr. Kellogg shall be entitled to receive options, restricted
stock units or other equity awards, as such awards may be granted from time-to-time by the Company, pursuant to the Company&#8217;s
equity compensation plans as compensation for services rendered as a member of the Board. In addition, for the avoidance of doubt,
nothing in this Section 6 or any other provision of this Agreement shall prohibit, constrain or otherwise restrict Mr. Kellogg
or Mr. Horn from carrying out their duties as directors of the Company, including voicing their opinions and voting on Board matters
as they deem fit in the circumstances.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">7.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">The IAT Group covenant and agree that they shall cause all of their
affiliates to abide by, and comply with, all of the terms of this Agreement and the IAT Group shall be jointly and severally fully
responsible and liable for any breach of this Agreement by their affiliates. </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">8.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">As soon as possible and in any event within two business days of the
execution of this Agreement: </FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">the Company shall (i) file the Notice of Dismissal of All Claims With
Prejudice in the form attached hereto as Schedule &#8220;B&#8221; relating to the MFC Lawsuit commenced in British Columbia on
a without cost basis; and (ii) file the Notice of Dismissal of All Claims With Prejudice in the form attached hereto as Schedule
&#8220;B&#8221; relating to the MFC Lawsuit commenced in New York on a without cost basis; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">the IAT Group shall file the Notice of Dismissal of All Claims With
Prejudice in the form attached hereto as Schedule &#8220;C&#8221; relating to the IAT Canadian Petition on a without cost basis.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">9.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Concurrent with the execution of this Agreement, the Company and certain
of its directors and the IAT Group have executed and delivered to each other the full and final mutual release between the Company,
IAT, Mr. Kellogg and the other named defendants to the Lawsuits in a form mutually agreed among the parties (the &#8220;<B>Mutual
Release</B>&#8221;). </FONT></P>


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">10.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif"> The Company shall issue a joint press release of the Company and the
IAT Group in the form attached hereto as Schedule &#8220;D&#8221; (in this section, the &#8220;<B>Press Release</B>&#8221;) as
soon as practicable on or after the date hereof, but in no event later than one business day after the date of this Agreement,
and the Company shall file with the SEC a corresponding Form 6-K that includes both the Press Release and this Agreement. The IAT
Group shall promptly file an early warning report and an amendment to their Schedule 13D reporting entry into this Agreement, amending
applicable items to conform to their obligations hereunder and appending or incorporating by reference this Agreement as an exhibit
thereto in the form provided to the Company on the date hereof. Except as provided under this Section 10 or as required under applicable
law, no party shall make any further public releases in respect hereof.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">11.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">The Company and the IAT Group each acknowledge and agree that (a) a
breach or a threatened breach by either party of this Agreement may give rise to irreparable injury inadequately compensable in
damages and accordingly each party shall be entitled to injunctive relief, without proof of actual damages, to prevent a breach
or threatened breach of the provisions hereof and to enforce specifically the terms and provisions hereof in any state or federal
court having jurisdiction, (b) neither party shall plead in defense for any such relief that there would be no irreparable injury
or an adequate remedy at law, (c) any applicable right or requirement that a bond be posted by either party is waived and (d) such
remedies shall not be the exclusive remedies for a breach of this Agreement, but will be in addition to all other remedies available
at law or in equity. Each party shall promptly notify the other parties of this Agreement in writing of any breach or threatened
breach of this Agreement by such party or its affiliates. In the event of any legal suit, action or proceeding relating to this
Agreement before a court of competent jurisdiction, the prevailing party or parties in such legal suit, action or proceeding shall
be entitled to reimbursement from the non-prevailing party or parties for the reasonable legal fees and expenses incurred by such
party or parties in connection with such legal suit, action or proceeding, including any appeal therefrom. Each party hereto hereby
irrevocably waives, to the fullest extent permitted by applicable law, any right it may have to a trial by jury in any legal proceeding
directly or indirectly arising out of or relating to this Agreement (whether based on contract, tort or any other theory).&nbsp;
</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">12.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">During the Term, each of the IAT Group and the Company covenants and
agrees that it shall not engage in any pattern of conduct that involves the making or publishing of written or oral statements
or remarks (including, without limitation, the repetition or distribution of derogatory rumours, allegations, negative reports
or comments) which are disparaging, deleterious or damaging to the integrity, reputation or goodwill of the such other party, its
affiliates or its and their management, officers, directors, representatives, agents or advisors.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">13.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">The term (the &#8220;<B>Term</B>&#8221;) of this Agreement shall be
from the date hereof until August </FONT><FONT STYLE="color: blue">7</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">,
2016 unless earlier terminated;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">by mutual written agreement between the Parties;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">by the Company by written notice to the IAT Group if there has been
a material breach by the IAT Group of any of their commitments or obligations under this Agreement </FONT></P>


<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: justify"><FONT>and such material breach is
incapable of being cured or, if capable of being so cured, </FONT>has not been cured by the IAT Group
within 21 business days of the IAT Group's receipt of written notice of such material breach from the Company; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">(c)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">by the IAT Group by written notice to the Company if there has been
a material breach by the Company of any of their commitments or obligations under this Agreement and such material breach is incapable
of being cured or, if capable of being so cured, has not been cured by the Company within 21 business days of the Company's receipt
of written notice of such material breach from the IAT Group or if the director designated by the IAT&nbsp;Group to serve on the
Audit Committee is removed from such committee, provided that the Company or the Board shall be permitted to replace such designated
director in the event he resigns or otherwise ceases to be a director of the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">14.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">All notices and other communications under this Agreement shall be in
writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person or by facsimile or
by a PDF attachment to an e-mail, or by courier or registered or certified mail, postage pre-paid, return receipt requested, as
follows:</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 0 0.5in">If to the Company:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1.5in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in; text-align: left"><FONT STYLE="font-weight: normal">MFC Industrial
Ltd.<BR>
Suite #1620 &#8211; 400 Burrard Street</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">Vancouver, British Columbia, Canada V6C 3A6</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">Attn: Michael Smith</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">Facsimile: (852) 2840 1260</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">E-Mail: mjsmith@mfinancialcorp.hk</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 0 0.5in">with a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">Sangra Moller LLP<BR>
1000 Cathedral Place</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">925 West Georgia Street</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">Vancouver, British Columbia</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">V6C 3L2<BR>
Attn: Harjit Sangra<BR>
Facsimile: (604) 669-8803</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">E-Mail: hsangra@sangramoller.com</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 0 0.5in">If to IAT or Peter Kellogg:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">IAT Reinsurance Company Ltd.<BR>
48 Wall Street, 30<SUP>th</SUP> Floor<BR>
New York, NY 10005<BR>
Attn:&#9;Peter R. Kellogg</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">Facsimile: (847) 472-6032</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-indent: 1in">E-Mail: pkellogg@iatre.com</P>


<!-- Field: Page; Sequence: 9 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0 0 0.5in">with a copy (which shall not constitute notice) to:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">Stikeman Elliott LLP<BR>
5300 Commerce Court West</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">199 Bay Street<BR>
Attn: Donald Belovich</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 1in">Facsimile: (416) 947-0866</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-indent: 1in">E-Mail: dbelovich@stikeman.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">15.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">The IAT Group hereby each designate, appoint and empower Stikeman Elliot
LLP at their at Suite 1700, Park Place, 666 Burrard Street, Vancouver, British Columbia V6C 2X8 as their authorized agent to receive
for and on each of their behalf service of summons or other legal process in any such action, suit or proceeding in connection
with this Agreement. The IAT Group may change the process agent appointed under this Section 15 to another party in Vancouver,
British Columbia upon five business days' prior written notice to the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">16.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">This Agreement may be executed by the signatories hereto in separate
counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute
one and the same instrument.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">17.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Each party will, at its own expense, execute and deliver all such further
agreements and documents and do such further acts and things as may be reasonably required to give effect to this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">18.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">This Agreement shall not confer any rights or remedies upon any person
other than the Parties hereto and their respective successors and permitted assigns.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">19.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">This Agreement is governed by, and will be interpreted and construed
in accordance with, the laws of the Province of British Columbia and the federal laws of Canada applicable therein, without regard
to its conflict of laws principles. The parties hereto each (a) irrevocably and unconditionally consent to the personal jurisdiction
and venue of the courts located within Province of British Columbia; (b) shall not attempt to deny or defeat such personal jurisdiction
by motion or other request for leave from any such court; and (c) shall not bring any action relating to this Agreement or otherwise
in any court other than the courts located within the Province of British Columbia.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">20.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Subject to the following sentence, this Agreement contains the entire
agreement between the IAT Group and the Company concerning the subject matter hereof. This Agreement shall inure to the benefit
of the parties hereto and their respective successors and permitted assigns. This Agreement may not be assigned by any party without
the express written consent of the other parties. No amendment, modification, supplement or waiver of any provision of this Agreement
may in any event be effective unless in writing and signed by the party or parties affected thereby. Any waiver by any party hereto
of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such
provision or of any breach of any other provision of this Agreement. The failure of a party hereto to insist upon strict adherence
to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter
to insist upon strict adherence to that term or any other term of this Agreement. </FONT></P>

<!-- Field: Page; Sequence: 10 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
21. &nbsp;&nbsp;&nbsp;If any provision of this Agreement is held invalid or unenforceable by a court of competent jurisdiction, the other provisions
of this Agreement shall remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in
part or degree shall remain in full force and effect to the extent not held invalid or unenforceable. The parties hereto shall
replace such invalid or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to
the extent possible, the purposes of such invalid or unenforceable provision.</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif"><B>MFC
INDUSTRIAL LTD.</B></FONT><BR>
<BR></TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">By:</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="width: 43%; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;<B>Accepted and agreed to this 7<SUP>th</SUP><FONT STYLE="color: blue">
</FONT>day of February, 2014:</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="3" STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD ROWSPAN="3" STYLE="vertical-align: top; padding-top: 6pt; padding-bottom: 6pt; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif"><B>IAT REINSURANCE COMPANY LTD</B></FONT><BR>
<BR>
</TD>
    <TD STYLE="vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">By:</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Authorized Signatory</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="width: 43%; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Peter Kellogg</FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 11 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0"></P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">&nbsp;</FONT><B>SCHEDULE
&#8220;A&#8221;</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 12pt; text-align: center"><B>KELLOGG GROUP OWNERSHIP OF SHARES</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; border: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif"><B>NAME</B></FONT></TD>
    <TD STYLE="width: 48%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif"><B>NUMBER OF SHARES</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Peter
    Kellogg</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">100,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">IAT
    Reinsurance Company Ltd.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">10,567,620</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Acceptance
    Casualty Insurance Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">227,273</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Acceptance
    Indemnity Insurance Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">303,030</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Bermuda
    Partners</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">1,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Cynthia
    Kellogg</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">1,200,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Harco
    National Insurance Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">776,511</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Kellogg
    Family Trust</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">200,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Occidental
    Fire &amp; Casualty Company of North Carolina</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">580,093</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Peter
    &amp; Cynthia Kellogg Foundation</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">2,693,536</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Peter
    Vest PTRS L.P.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">190,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">PRK
    Corporation</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">966,718</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">PRK
    Non-Marital Trust</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">649,746</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Transguard
    Insurance Company of America, Inc.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">414,004</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-bottom: 12pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">Wilshire
    Insurance Company</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 11pt Book Antiqua, Times, Serif">793,869</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 12 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SCHEDULE &#8220;B&#8221;</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center"><B>NOTICE OF DISMISSAL OF ALL CLAIMS WITH PREJUDICE
RELATING TO THE MFC LAWSUIT COMMENCED IN BRITISH COLUMBIA </B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 4in; text-align: center">Court File No.: S138773</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 4in; text-align: center; text-indent: 0.5in">Vancouver Registry</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">IN THE SUPREME COURT OF BRITISH COLUMBIA</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">BETWEEN:</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 28.55pt 0 21.3pt; text-align: center">MFC INDUSTRIAL LTD.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 28.55pt 0 21.3pt; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 28.55pt 0 21.3pt; text-align: right">PETITIONER</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 28.55pt 0 21.3pt; text-align: center">AND</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 28.55pt 0 21.3pt">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 35.65pt 0 28.35pt; text-align: center"><FONT STYLE="text-transform: uppercase">peter
R. kellogG, CYNTHIA KELLOGG, lee Kellogg, Charles Kellogg, KELLOGG FAMILY TRUST, PETER AND CYNTHIA KELLOGG FOUNDATION, PETER VEST
PTRS L.P., PRK CORPORATION, PRK NON-MARITAL TRUST, bermuda partners (US), iat reinsurance company, ltd., Acceptance Casualty Insurance
Company, Acceptance Indemnity Insurance Company, Harco National Insurance Company, Occidental Fire &amp; Casualty Company of North
Carolina, INC., Transguard Insurance Company of America, Inc. </FONT>and<FONT STYLE="text-transform: uppercase"> Wilshire Insurance
Company, Inc.</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">RESPONDENTS</P>

<P STYLE="font: 11pt/18pt Book Antiqua, Times, Serif; margin: 8.4pt 0; text-align: center"><B>NOTICE OF DISCONTINUANCE</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.75in"><FONT STYLE="text-transform: uppercase"><B>Filed
by:</B></FONT> &#9;MFC Industrial Ltd.</P>

<P STYLE="font: bold 11pt Book Antiqua, Times, Serif; margin: 12pt 0 3pt">TAKE NOTICE<FONT STYLE="font-weight: normal"> that MFC
Industrial Ltd. discontinues this proceeding against the Respondents, on a with prejudice, without costs basis. </FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">Notice of trial has not been filed.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/18pt Times New Roman, Times, Serif; margin: 8.4pt 0"><FONT STYLE="font-family: Book Antiqua, Times, Serif">Date:
        February </FONT><FONT STYLE="font-family: Wingdings">l</FONT><FONT STYLE="font-family: Book Antiqua, Times, Serif">, 2014</FONT></P>
        <P STYLE="font: 11pt/18pt Book Antiqua, Times, Serif; margin: 8.4pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 52%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/18pt Book Antiqua, Times, Serif; margin: 8.4pt 0 0">....................................................................</P>
        <P STYLE="font: 11pt/18pt Book Antiqua, Times, Serif; margin: 0 0 8.4pt">Groia &amp; Company,<BR>
        Lawyers for the Petitioner, MFC Industrial Ltd.</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 13 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: center; text-indent: 0in"><B>NOTICE OF DISMISSAL OF
ALL CLAIMS WITH PREJUDICE RELATING TO THE MFC LAWSUIT COMMENCED IN NEW YORK</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: left; text-indent: 0in"></P><P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">UNITED STATES DISTRICT COURT<BR>
SOUTHERN DISTRICT OF NEW YORK</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 63%; border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0"></P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">MFC INDUSTRIAL LTD.,</P></TD>
    <TD STYLE="width: 37%; padding-right: 5.4pt; padding-left: 0.3in; font: 11pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 200pt">Plaintiff,</P></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 0.3in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-indent: 0.5in">-against-</P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">PETER KELLOGG, CYNTHIA KELLOGG, LEE KELLOGG, CHARLES KELLOGG, KELLOGG
        FAMILY TRUST, PETER AND CYNTHIA KELLOGG FOUNDATION, PETER VEST PTRS L.P., PRK CORPORATION, PRK NON-MARITAL TRUST, IAT REINSURANCE
        COMPANY LTD., BERMUDA PARTNERS, ACCEPTANCE CASUALTY INSURANCE CO., ACCEPTANCE INDEMNITY INSURANCE CO., HARCO NATIONAL INSURANCE
        CO., OCCIDENTAL FIRE &amp; CASUALTY CO. OF NORTH CAROLINA, TRANSGUARD INSURANCE CO. OF AMERICA, INC., and WILSHIRE INSURANCE CO.,<BR>
        <BR>
        </P></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 0.3in"></P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 12.6pt">13 Civ. 8400 (JGK)(JCF)</P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 21.8pt">&nbsp;</P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 12.6pt"><B>NOTICE OF DISMISSAL WITH PREJUDICE </B></P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 12.6pt"><B>PURSUANT TO </B></P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 12.6pt"><B><U>F.R.C.P. 41(a)(1)(A)(i)</U></B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 200pt">&#9;Defendants.</P>
        <P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="font: 11pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 0.3in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0.3in 12pt 0.5in; text-indent: -0.5in"><FONT STYLE="font-variant: small-caps">&nbsp;</FONT></P>

<P STYLE="font: 11pt/200% Book Antiqua, Times, Serif; margin: 0 0 6pt 0.25in">&nbsp;WHEREAS, Plaintiff MFC Industrial Ltd. initiated
the above-captioned case by filing a Complaint against Defendants Peter Kellogg, Cynthia Kellogg, Lee Kellogg, Charles Kellogg,
Kellogg Family Trust, Peter and Cynthia Kellogg Foundation, Peter Vest PTRS L.P., PRK Corporation, PRK Non-Marital Trust, IAT
Reinsurance Company Ltd., Bermuda Partners, Acceptance Casualty Insurance Co., Acceptance Indemnity Insurance Co., Harco National
Insurance Co., Occidental Fire &amp; Casualty Co. of North Carolina, Transguard Insurance Co. of America, Inc., and Wilshire Insurance
Co. (hereafter &#8220;Defendants&#8221;) on November 25, 2013;</P>

<P STYLE="font: 11pt/200% Book Antiqua, Times, Serif; margin: 0; text-indent: 1in">WHEREAS, the above-captioned case has been assigned
to the Honorable John G. Koeltl of this Court;</P>


<!-- Field: Page; Sequence: 14 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt/200% Book Antiqua, Times, Serif; margin: 0; text-indent: 1in">WHEREAS, as of the date of this Notice of Dismissal,
the Defendants in the above-captioned case have not served an answer or a motion for summary judgment in response to the Complaint;</P>

<P STYLE="font: 11pt/200% Book Antiqua, Times, Serif; margin: 0; text-indent: 1in">THE PLAINTIFF, MFC INDUSTRIAL LTD., HEREBY GIVES
NOTICE, pursuant to Rule 41(a)(1)(A)(i) of the Federal Rules of Civil Procedure, that it hereby dismisses the above-captioned case
against the Defendants, with prejudice.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">Dated: New York, New York</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 40.5pt"><FONT STYLE="font-family: Book Antiqua, Times, Serif">February
</FONT><FONT STYLE="font-family: Wingdings">l</FONT><FONT STYLE="font-family: Book Antiqua, Times, Serif">, 2014</FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.25in; text-indent: 0pt">&#9;Respectfully submitted,</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.25in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.25in">LATHAM &amp; WATKINS LLP</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.25in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.25in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.25in">By: _________________________</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.5in">Craig A. Batchelor<BR>
<BR>
</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in">885 Third Avenue</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in">New York, New York 10022</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in">(212) 906-1200</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in">E-mail: craig.batchelor@lw.com</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in"><I>Attorneys for Plaintiff </I></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 3.5in; text-indent: -0.25in"><I>MFC Industrial Ltd.</I></P>


<!-- Field: Page; Sequence: 15 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 12pt; text-align: center"><B>SCHEDULE &#8220;C&#8221;</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: center; text-indent: 0in"><B>NOTICE OF DISMISSAL OF
ALL CLAIMS WITH PREJUDICE RELATING TO THE IAT CANADIAN PETITION</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">No. S139195</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">Vancouver Registry</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">IN THE SUPREME COURT OF BRITISH COLUMBIA</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">BETWEEN</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">IAT REINSURANCE COMPANY, LTD. and PETER R. KELLOGG</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">PETITIONERS</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">and</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: center">MFC INDUSTRIAL LTD. and MICHAEL SMITH</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0; text-align: right">RESPONDENTS</P>

<P STYLE="font: 11pt/18pt Book Antiqua, Times, Serif; margin: 8.4pt 0; text-align: center"><B>NOTICE OF DISCONTINUANCE</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.75in"><B>Filed by:</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 0.75in; text-align: center; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0 0 0 0.75in; text-indent: -0.75in">IAT REINSURANCE COMPANY, LTD. and
PETER R. KELLOGG</P>

<P STYLE="font: bold 11pt Book Antiqua, Times, Serif; margin: 12pt 0 3pt">TAKE NOTICE<FONT STYLE="font-weight: normal"> that IAT
Reinsurance Company, Ltd. and Peter R. Kellogg discontinue this proceeding against MFC Industrial Ltd. and Michael Smith, on a
with prejudice, without costs basis. </FONT></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">Notice of trial has not been filed.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/18pt Times New Roman, Times, Serif; margin: 8.4pt 0"><FONT STYLE="font-family: Book Antiqua, Times, Serif">Date:
        February </FONT><FONT STYLE="font-family: Wingdings">l</FONT><FONT STYLE="font-family: Book Antiqua, Times, Serif">, 2014</FONT></P>
        <P STYLE="font: 11pt/18pt Book Antiqua, Times, Serif; margin: 8.4pt 0">&nbsp;</P></TD>
    <TD STYLE="width: 52%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 11pt/18pt Book Antiqua, Times, Serif; margin: 8.4pt 0 0">....................................................................</P>
        <P STYLE="font: 11pt/18pt Book Antiqua, Times, Serif; margin: 0 0 8.4pt">Stikeman Elliott LLP,<BR>
        Lawyers for the Petitioner</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 16 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: center; text-indent: 0in"><B>SCHEDULE &#8220;D&#8221;</B></P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: center; text-indent: 0in"><B>PRESS RELEASE</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt"><IMG SRC="image_004.jpg" ALT="" STYLE="height: 108px; width: 275px"></TD>
    <TD STYLE="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 18pt">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 18pt"><FONT STYLE="font-size: 18pt"><B>IAT Reinsurance</B></FONT><BR>
<FONT STYLE="font-size: 18pt"><B>Company, Ltd.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9; &#9;&#9;</P>

<P STYLE="font: 10pt Book Antiqua, Times, Serif; margin: 0; text-align: right; color: #333399"><FONT STYLE="color: Black"><B>NEWS
RELEASE</B></FONT><B> </B></P>

<P STYLE="font: 10pt Book Antiqua, Times, Serif; margin: 0 0 0 22.5pt">&#9; &#9;</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0 0 6pt; text-align: center"><B>MFC AND KELLOGG GROUP ANNOUNCE DEFINITIVE
AGREEMENT</B></P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">NEW YORK (February 7, 2014) - MFC Industrial
Ltd. (&quot;MFC&quot; or the &quot;Company&quot;) (NYSE: MIL), IAT Reinsurance Company, Ltd. and Peter Kellogg are pleased to jointly
announce that they have entered into a settlement agreement pursuant to which, among other things, all outstanding claims and actions
between them will be dismissed and they have agreed to work cooperatively to enhance long term value for all MFC's stakeholders.</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">A copy of the agreement will be filed under
the Company's profile on SEDAR at www.sedar.com and on Form 6-K with the United States Securities and Exchange Commission in due
course.</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Book Antiqua, Times, Serif; margin: 0 63.35pt 12pt 0; text-align: justify"><B>About MFC Industrial Ltd.</B></P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0 0.9pt 12pt 0; text-align: justify">MFC is a global commodity supply
chain company and is active in a broad spectrum of activities, including its integrated commodities operations, mineral and hydrocarbon
interests, which focus on metals, energy, chemicals, plastics and wood products. MFC also provides logistics, financial and risk
management services to producers and consumers of commodities. Our global business activities are supported by our captive commodities
sources through strategic direct or indirect investments and other commodities sources secured by us from third parties.</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0 9.35pt 12pt 0; text-align: justify">To obtain further information
on the Company, please visit its website at www.mfcindustrial.com.</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify"><B>About IAT </B></P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">IAT is a Class 3-A Bermuda-domiciled reinsurer.
IAT&#8217;s head office is located at 48 Wall Street, 30th Floor, New York, NY 10005. IAT is an active underwriter of commercial
and personal lines property and casualty reinsurance and insurance, directly and through its eight wholly-owned insurance subsidiaries
domiciled and licensed in the US.</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: center; text-indent: 1in"><B>&nbsp;</B></P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>5
<FILENAME>p14-0417exhibit_11.htm
<DESCRIPTION>EXHIBIT 11
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: right">EXHIBIT 11</P>

<P STYLE="font: 11pt Book Antiqua, Times, Serif; margin: 12pt 0; text-align: center; text-indent: 0in"><B><U>Press Release</U>
</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding-right: 5.4pt; padding-left: 5.4pt; font: 11pt Times New Roman, Times, Serif"><IMG SRC="image_003.jpg" ALT="" STYLE="height: 81pt; width: 206.25pt"></TD>
    <TD STYLE="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; font: 18pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; font: 18pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 18pt"><B>IAT Reinsurance</B></FONT><BR>
<FONT STYLE="font-size: 18pt"><B>Company, Ltd.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Book Antiqua, Times, Serif; margin: 0; text-align: right; color: #333399"><B>NEWS RELEASE </B></P>

<P STYLE="font: 10pt Book Antiqua, Times, Serif; margin: 0 0 0 22.5pt; color: blue"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0 0 6pt; text-align: center"><B>MFC AND KELLOGG GROUP ANNOUNCE DEFINITIVE
AGREEMENT</B></P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">NEW YORK (February 7, 2014) - MFC Industrial
Ltd. (&quot;MFC&quot; or the &quot;Company&quot;) (NYSE: MIL), IAT Reinsurance Company, Ltd. and Peter Kellogg are pleased to jointly
announce that they have entered into a settlement agreement pursuant to which, among other things, all outstanding claims and actions
between them will be dismissed and they have agreed to work cooperatively to enhance long term value for all MFC's stakeholders.</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">A copy of the agreement will be filed under
the Company's profile on SEDAR at www.sedar.com and on Form 6-K with the United States Securities and Exchange Commission in due
course.</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 63.35pt 6pt 0"><B>About MFC Industrial Ltd.</B></P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 0.9pt 6pt 0">MFC is a global commodity supply chain company
and is active in a broad spectrum of activities, including its integrated commodities operations, mineral and hydrocarbon interests,
which focus on metals, energy, chemicals, plastics and wood products. MFC also provides logistics, financial and risk management
services to producers and consumers of commodities. Our global business activities are supported by our captive commodities sources
through strategic direct or indirect investments and other commodities sources secured by us from third parties.</P>

<P STYLE="font: 10pt/120% Times New Roman, Times, Serif; margin: 0 9.35pt 6pt 0">To obtain further information on the Company,
please visit its website at www.mfcindustrial.com.</P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify"><B>About IAT </B></P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/120% Book Antiqua, Times, Serif; margin: 0; text-align: justify">IAT is a Class 3-A Bermuda-domiciled reinsurer.
IAT&rsquo;s head office is located at 48 Wall Street, 30th Floor, New York, NY 10005. IAT is an active underwriter of commercial
and personal lines property and casualty reinsurance and insurance, directly and through its eight wholly-owned insurance subsidiaries
domiciled and licensed in the US.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>6
<FILENAME>p14-0417exhibit_12.htm
<DESCRIPTION>EXHIBIT 12
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: right; text-indent: 0in">EXHIBIT 12</P>

<P STYLE="font: 10.5pt/115% Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Joint Filing Agreement, dated February
10, 2014</U></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>JOINT FILING AGREEMENT</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The undersigned acknowledge and agree that the
foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement
on Schedule 13D may be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements.
The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and
accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness
and accuracy of the information concerning the others, except to the extent that he or it knows that such information is inaccurate.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Dated as of February 10, 2014</P>

<P STYLE="font: 12pt Book Antiqua, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>IAT REINSURANCE COMPANY LTD.</B></TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 66%; padding-right: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="width: 24%; padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.75pt">/s/ Peter R. Kellogg</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Name:</TD>
    <TD STYLE="padding-right: 5.75pt">Peter R. Kellogg</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Title:</TD>
    <TD STYLE="padding-right: 5.75pt">President and Chief Executive Officer</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.75pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 1pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">/s/ Peter R. Kellogg</TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><B>Peter R. Kellogg</B></TD>
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
