Exhibit
10.18

     

    Garmin Ltd. 2009 Cash
Incentive Bonus Plan

     

    Bonus Objectives. The Garmin
Ltd. 2009 Cash Incentive Bonus  Plan (the “Plan”) provides for cash
bonuses to be paid to eligible employees of Garmin Ltd. (the “Company”) and its
subsidiaries and is designed to provide a performance incentive to reduce costs,
increase efficiencies and foster growth of the business of the
Company.

     

    Performance Period. The
performance period (“Performance Period”) is from December 28, 2008 through
December 26, 2009.

     

    Timing of Bonus
Payment.  All bonus payments will be made no later than March
15, 2010.

     

    Eligibility for Participation.
This Plan is limited to a select group of individuals on the senior leadership
team who are selected by the Compensation Committee and notified in writing of
their eligibility and their individual bonus target.  A selected
employee is referred to herein as a "Participant."

     

    Performance
Goals.  Applicable performance goals on which bonus payments
will be based will be established by the Compensation Committee and will relate
to Company-wide objectives or objectives that are related to performance of the
individual Participant or of the division, department or function within the
Company in which the Participant works.  Performance Goals may be expressed
in absolute terms or relative terms, based on the level of achievement compared
against one or more prior fiscal years.  The Compensation Committee
will separately establish the Performance Goals for 2009.

     

    Eligibility for Bonus Payment.
Each of the following criteria must be satisfied in order for a Participant to
be eligible to receive one or more bonus payments, if any under the
Plan:

     

    
      	
               
      

            	
              (1)

            	
              The
      Company must achieve the Performance Goals as established by the
      Compensation Committee.

            


    

     

    
      	
               
      

            	
              (2)

            	
              Except
      as expressly provided in this Plan or as otherwise expressly approved by
      the Compensation Committee, a Participant must be employed on a Full-Time
      Basis and must be in Good Standing on the applicable bonus payment date in
      order to be eligible to receive such payment. "Full-Time Basis" means the
      Participant is regularly scheduled to work 30 or more hours per week and
      “Good Standing” means the Employee is not the subject of any disciplinary
      action.

            


    

     

    
      	
               
      

            	
              (3)

            	
              If
      a Participant dies or becomes Disabled (as defined in the Garmin Ltd. 2005
      Equity Incentive Plan”) after the end of the Performance Period, the
      Participant or his or her estate, as the case may be, will remain eligible
      to receive the respective bonus.

            


    

     

    Bonus Calculation Formula. The
bonus amount for each Participant will be based on (i) the Participant's
individual bonus target (“Individual Bonus Target”) and (ii) the Company's or
Participant's level of achievement toward the applicable Performance
Goal.   An applicable bonus payout table illustrating the
anticipated bonus amounts for varying levels of attainment toward the applicable
Performance Goals and each Participant's Individual Bonus Target will be
separately established by the Compensation Committee.


    
      
         


      

      
         


        
          

        

      

      
         


      

    

     

    Taxes.  Any bonus
will be subject to applicable taxes and other required
withholdings.

     

    Severability. This Plan is
intended to be in conformity with all applicable federal, state and local laws
and regulations. To the extent any provision is found to be invalid or
unenforceable, then such provision will be modified to the extent possible to
reflect the Company’s intentions. All remaining provisions of the Plan will
remain in full force and effect unless otherwise determined by the Compensation
Committee.

     

    No Guarantee of
Employment.  This Plan is not an employment policy or
contract.  It does not give any Participant the right to remain an
employee of the Company, nor does it interfere with the Company's right to
discharge the employee.

    


    Administration and Interpretation of
Plan.  The Company retains the exclusive right to interpret the
terms of this Plan in its sole and absolute discretion. The interpretation of
the Company shall be binding, conclusive and final.