GARMIN LTD
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<TYPE>EX-10
<SEQUENCE>6
<FILENAME>form8k_exhibit10-5.htm
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<TITLE>Exhibit 10.5</TITLE>
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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 10.5 </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>GARMIN LTD.2000 <BR>EQUITY
INCENTIVE PLAN </I></FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>STOCK OPTION AGREEMENT</B><BR><I>(Nonqualified Stock
Option) </I><BR><B>FOR EMPLOYEES OF GARMIN (EUROPE) LTD.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Garmin
Ltd., (the &#147;Company&#148;), grants to __________________________, an option (the &#147;Option&#148;) to
purchase that number of the Company&#146;s common shares, $ 0.01 par value per share
(&#147;Shares&#148;), set forth below, all subject to the terms and conditions, in the
attached Exhibit A and in the Garmin Ltd. 2000 Equity Incentive Plan, as may from time to
time be amended (the &#147;Plan&#148;), a copy of which is attached. Please refer to the
Plan documents for definitions of terms used in this Agreement and Exhibit A. </FONT></P>


<TABLE BORDER="0" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="BOTTOM">
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>Grant Date</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><I>Expiration Date</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR><BR><I>Number of Shares</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR><BR>__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Option Price</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2">__________________</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR><I>When Option first exercisable</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In installments on the dates specified below:</FONT></TD></TR>
<TR VALIGN="TOP">
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="2"></FONT></TD></TR>
</TABLE>
<BR>
<BR>
<BR>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I><U>Years After Grant Date</U></I> </FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Percentage</U></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2>No. of Shares<BR><U>Exercisable</U> </FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Less than one year</I></FONT></TD>
     <TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>0&nbsp;</FONT></TD>
     <TD WIDTH=25% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR>0&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>At least 1, but less than 2 years</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>20%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>____&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>2 years but less than 3 years</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>40%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>____&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>3 years but less than 4 years</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>60%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>____&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>4 years but less than 5 years</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>80%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>____&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>5 or more years</I></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>100%</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>____&nbsp;</FONT></TD></TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>By
accepting this Option, you are also agreeing to be bound by the restrictive covenants in
paragraph 7 of Exhibit A.</B> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
indicate your acceptance of this Agreement and Exhibit A by entering your OptionsLink
password and clicking on the &#147;Accept&#148; button on the previous screen. Responses
should be delivered electronically within 10 days of your receipt. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Garmin Ltd. </FONT></P>

<BR>
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By:_______________________</FONT></P>






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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>EXHIBIT A<BR>to<BR>GARMIN LTD. 2000
EQUITY INCENTIVE PLAN<BR>STOCK OPTION AGREEMENT<BR> FOR EMPLOYEES OF GARMIN (EUROPE) LTD. </FONT></H1>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Manner of Exercise</U>.&nbsp;&nbsp; This Option may be exercised by delivering to the
          Company (or its authorized agent), during the period in which the Option is
          exercisable, (i) a written notice to purchase a specific number of Shares under
          this Option, and (ii) full payment of the Option Price together with applicable
          federal, state, local or foreign withholding taxes (&#147;Required
          Withholding&#148;). </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment
of the Option Price and the Required Withholding shall be made by any one or more of (i),
(ii), or (iii), below: </FONT></P>

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     <TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
          <TR VALIGN=TOP>
          <TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
          <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          cash, personal check or electronic wire transfer, or </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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     <TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
          <TR VALIGN=TOP>
          <TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
          <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          the sale of the Shares acquired on exercise of this Option through a
          broker-dealer to whom you have submitted an irrevocable notice of exercise and
          irrevocable instructions to deliver promptly to the Company the amount of sale
          or loan proceeds sufficient to pay for the Shares and/or Required Withholding,
          or </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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          <TR VALIGN=TOP>
          <TD WIDTH=25%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
          <TD WIDTH=75%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Shares with a Fair Market Value equal to the Required Withholding, at your
          election, may be retained by the Company upon exercise to satisfy the Required
          Withholding and you will receive the number of Shares you elected to purchase
          reduced by the Shares retained by the Company, </FONT></TD>
          </TR>
          </TABLE>
          <BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
exercise will become effective on the date on which both such notice and full payment have
been actually received by the Company, which date must be before the Expiration Date shown
in this Stock Option Agreement. You will not have any rights as a shareholder of the
Company with respect to the Shares which you receive upon exercise of this Option until
the Shares have been registered in your name. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Upon Death or Disability</U>. &nbsp;&nbsp;This Option shall become fully exercisable upon
          your Termination of Affiliation due to death or Disability. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Vesting in Case of Change of Control</U>. &nbsp;&nbsp;This Option shall become fully
          exercisable upon a Termination of Affiliation initiated by your employer other
          than for Cause or initiated by you for Good Reason if your Termination of
          Affiliation occurs within the one-year period following a Change of Control.
          Change of Control and Good Reason are defined in the Plan. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Termination for Cause</U>. &nbsp;&nbsp;This Option shall terminate immediately and any
          unexercised portion shall be forfeited immediately upon your Termination of
          Affiliation for Cause. In the event of your Termination of Affiliation for
          Cause, the Company or the Subsidiary by which you were employed shall have the
          right to recover from you any Shares (or the proceeds thereof) acquired by you
          on exercise of this Option, upon repayment to you of the Option Price for such
          shares. Cause is defined in the Plan. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Exercise After Termination</U>. &nbsp;&nbsp;This Option may be exercised only while you
          are employed with the Company or a Subsidiary, except as follows: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)&nbsp;&nbsp;&nbsp;&nbsp;
          if you have a Termination of Affiliation due to Disability, you may exercise
          this Option at any time during the first 12 months after your Termination of
          Affiliation; </FONT></P>




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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)&nbsp;&nbsp;&nbsp;&nbsp;
          if you have a Termination of Affiliation due to death, the executor or
          administrator of your estate, your heirs or legatees, or beneficiary designated
          in accordance with the Plan, as applicable, may exercise this Option at any time
          during the first 12 months after your Termination of Affiliation; and </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)&nbsp;&nbsp;&nbsp;&nbsp;
          if you have a Termination of Affiliation due to any other reason (other than a
          termination for Cause), you may also exercise this Option at any time during the
          first three months after your Termination of Affiliation; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>provided, however, that except as
otherwise provided in Section 2 or 3 of this Exhibit&nbsp;A, this Option can be exercised
after your Termination Date only to the extent it is exercisable on the Termination Date
and, provided further that, under no circumstances can this Option be exercised on or
after the Expiration Date. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Option Non-Transferable</U>.&nbsp;&nbsp; This Option is not transferable except to (a)
          your child, stepchild, grandchild, parent, stepparent, grandparent, spouse,
          former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law,
          daughter-in-law, brother-in-law, or sister-in-law (including adoptive
          relationships), (b) any person sharing your household (other than a tenant or
          employee), (c) a trust in which persons described in (a) or (b) have more than
          50% of the beneficial interest, (d) a foundation in which persons described in
          (a) or (b) or you own more than 50% of the voting interests; provided such
          transfer is not for value. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Restrictive Covenants</U>.&nbsp;&nbsp; As a condition of this Option and in addition to
          any restrictive agreements you may have entered into with your employer, you
          accept and agree to be bound as follows: </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <B><I>Nondisclosure of Option Terms</I></B><I>.</I> &nbsp;&nbsp;You agree not to disclose or
          cause to be disclosed at any time, nor authorize anyone to disclose any
          information concerning this Stock Option Agreement or your Option except (i) as
          required by law, or (ii) to a permitted transferee listed in Section 6 who
          agrees to be bound by this Paragraph 7(a), or (iii) to your legal and financial
          advisors who agree to be bound by this Paragraph 7(a). </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <B><I>Noncompetition</I></B><I>.</I> &nbsp;&nbsp;During your employment and until one year
          after you cease being employed by or acting as a consultant or independent
          contractor to the Company or any Subsidiary, you will not perform services as an
          employee, director, officer, consultant, independent contractor or advisor, or
          invest in, whether in the form of equity or debt, or otherwise have an ownership
          interest in any company, entity or person that directly competes anywhere in the
          United States, the United Kingdom, Taiwan, or in any other location outside the
          United States, the United Kingdom or Taiwan where the Company or a Subsidiary
          conducts or (to your knowledge) plans to conduct business. Nothing in this
          Section 7(b) shall, however, restrict you from making an investment in and
          owning up to one-percent (1%) of the common stock of any company whose stock is
          listed on a national securities exchange or actively traded in an
          over-the-counter market; <I>provided</I> that such investment does not give you
          the right or ability to control or influence the policy decisions of any direct
          competitor of the Company or a Subsidiary. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <B><I>Noninterference</I></B><I>.</I> &nbsp;&nbsp;During your employment and until one year
          after you cease being employed by or acting as a consultant or independent
          contractor to the Company or any Subsidiary, you will not, either directly or
          indirectly through another business or person, solicit, entice away, or
          otherwise interfere with any employee, customer, prospective customer, vendor,
          prospective vendor, supplier or other similar business relation or (to your
          knowledge) prospective business relation of the Company or any Subsidiary. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <B><I>Nonsolicitation</I></B><I>.</I> &nbsp;&nbsp;During your employment and until one year
          after you cease being employed by or acting as a consultant or independent
          contractor to the Company or any Subsidiary, you will not, either directly or
          indirectly through another business or person, hire, recruit, employ, or attempt
          to hire, recruit or employ, or facilitate any such acts by others, any person
          then currently employed by the Company or any Subsidiary. </FONT></P>


<P ALIGN="CENTER"><FONT FACE="Times New Roman" SIZE="2">-2-</FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <B><I>Confidentiality</I></B><I>.</I> &nbsp;&nbsp;You acknowledge that it is the policy of
          the Company and its subsidiaries to maintain as secret and confidential all
          valuable and unique information and techniques acquired, developed or used by
          the Company and its subsidiaries relating to their businesses, operations,
          employees and customers (&#147;Confidential Information&#148;). You recognize
          that the Confidential Information is the sole and exclusive property of the
          Company and its subsidiaries, and that disclosure of Confidential Information
          would cause damage to the Company and its subsidiaries. You shall not at any
          time disclose or authorize anyone else to disclose any Confidential Information
          or proprietary information that (A)&nbsp;is disclosed to or known by you as a
          result or as a consequence of or through your performance of services for the
          Company or any Subsidiary, (B)&nbsp;is not publicly or generally known outside
          the Company and (C)&nbsp;relates in any manner to the Company&#146;s business.
          This obligation will continue even though your employment with the Company or a
          Subsidiary may have terminated. This paragraph 7(e) shall apply in addition to,
          and not in derogation of any other confidentiality agreements that may exist,
          now or in the future, between you and the Company or any Subsidiary. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <B><I>No Detrimental Communications</I></B>. &nbsp;&nbsp; You agree not to disclose or cause
          to be disclosed at any time any untrue negative, adverse or derogatory comments
          or information about the Company or any Subsidiary, about any product or service
          provided by the Companies, or about prospects for the future of the Company or
          any Subsidiary. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          <B><I>Remedy</I></B>. &nbsp;&nbsp;You acknowledge the consideration provided herein
          (absent your agreement to this Section 7) is more than Garmin is obligated to
          pay, and you further acknowledge that irreparable harm would result from any
          breach of this Section and monetary damages would not provide adequate relief or
          remedy. Accordingly, you specifically agree that, in the event that you breach
          any of your obligations under this Section 7, the Company and its Subsidiaries
          shall be entitled to injunctive relief therefor, and in particular, without
          limiting the generality of the foregoing, neither the Company nor any Subsidiary
          shall be precluded from pursuing any and all remedies they may have at law or in
          equity for breach of such obligations. In addition, this Option shall terminate
          immediately the first date on which you engage in such activity and the
          Committee shall be entitled on or after the first date on which you engage in
          such activity to require you to return any Shares obtained by your exercise of
          this Option to the Company and to require you to repay any proceeds received at
          any time from the sale of Shares obtained by your exercise of this Option (plus
          interest on such amount from the date received at a rate equal to the prime
          lending rate as announced from time to time in the <I>Wall Street Journal</I>)
          and to recover all reasonable attorneys&#146; fees and expenses incurred in
          terminating this Option and recovering such Shares and proceeds. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Nonstatutory Option</U>.&nbsp;&nbsp; This Option has been designated by the Committee as
          a Nonstatutory Option; it does not qualify as an incentive stock option. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Taxes</U>.&nbsp;&nbsp; The Company is not required to issue Shares upon the exercise of
          this Option unless you first pay, in cash or by Share withholding to the Company
          such amount, if any, of Required Withholding. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>No Right to Employment or Affiliation</U>. &nbsp;&nbsp;Nothing in the Agreement shall
          interfere with or limit in any way the right of the Company or any Subsidiary to
          terminate your employment at any time, nor confer upon you the right to continue
          in the employ of the Company or any Subsidiary. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Amendments</U>. &nbsp;&nbsp;This Agreement may be amended only by a writing executed by
          the Company and you which specifically states that it is amending this
          Agreement; <I>provided</I> that this Agreement is subject to the power of the
          Board to amend the Plan as provided therein. Except as otherwise provided in the
          Plan, no such amendment shall materially adversely affect your rights under this
          Agreement without your consent. </FONT></P>


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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Notices</U>. &nbsp;&nbsp;Any notice to be given under the terms of this Agreement to the
          Company shall be addressed to Garmin (Europe) Ltd. in care of the General
          Manager. Any notice to be given to you shall be addressed to you at the address
          listed in the Company&#146;s records. By a notice given pursuant to this
          Section, either party may designate a different address for notices. Any notice
          shall have been deemed given when actually delivered. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Severability</U>. &nbsp;&nbsp;If any part of this Agreement is declared by any court or
          governmental authority to be unlawful or invalid, such unlawfulness or
          invalidity shall not serve to invalidate any part of this Agreement not declared
          to be unlawful or invalid. Any part so declared unlawful or invalid shall, if
          possible, be construed in a manner which gives effect to the terms of such part
          to the fullest extent possible while remaining lawful and valid. Additionally,
          if any of the covenants in Section 7 are determined by a court to be
          unenforceable in whole or in part because of such covenant&#146;s duration or
          geographical or other scope, such court shall have the power to modify the
          duration or scope of such provision as the case may be, so as to cause such
          covenant, as so modified, to be enforceable. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;&nbsp;&nbsp;&nbsp;
          <U>Applicable Law</U>. &nbsp;&nbsp;This Agreement shall be governed by the substantive laws
          of the State of Kansas in the United States of America. </FONT></P>
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