Document:

EXHIBIT
      10.1

     

    GARMIN
      LTD.

    2005
      EQUITY INCENTIVE PLAN

    STOCK
      APPRECIATION RIGHTS AGREEMENT

    (Freestanding
      Stock-Settled SAR only)

     

    To: _______________________
      ("you" or the "Grantee")

     

    NOTICE
      OF GRANT:

     

    You
      have
      been granted freestanding stock appreciation rights ("SARs") related to the
      common shares, $0.01 par value per share, of Garmin Ltd. ("Shares"), subject
      to
      the terms and conditions of the Garmin Ltd. 2005 Equity Incentive Plan (the
      "Plan") and the SARs Award Agreement between you and Garmin Ltd. (the
      "Company"), attached as Exhibit A, as follows:

     

    
      	
              Grant
                Date:

            	__________________ 
	
              Total
                Number of Shares Subject to SARs

            	
              __________________
(_______)

            
	
              Exercise
                Price per Share ($):

            	
              $___.___

            
	
              Expiration
                Date:

            	__________________ 

    

     

    In
      order
      to fully understand your rights under the Plan (a copy of which is attached)
      and
      the SARs Award Agreement, attached as Exhibit A, you are encouraged to read
      the
      Plan and this document carefully. Please refer to the Plan document for the
      definition of capitalized terms used in this Agreement.

     

    To
      properly accept these SARs, you must enter your E*Trade password and click
      the
      "Accept" button on the previous screen. Acceptances shall be made electronically
      within ten (10) days of your receipt of this Notice and SAR Award Agreement.
      By
      accepting these SARs, you are also agreeing to be bound by Exhibit A, including
      the restrictive covenants in Section 10 of Exhibit A.

    
      	 	 	 
	 	
              GARMIN
                LTD. 

            
	 
 	 
 	 
 
	
            	By:  	
            
	 	
              

              Name:
                Min H. Kao 

              Title:
                Chairman and CEO

            

    

    
       

      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    EXHIBIT
      A

     

    AGREEMENT:

     

    In
      consideration of the mutual promises and covenants contained herein and other
      good and valuable consideration paid by the Grantee to the Company, the Grantee
      and the Company agree as follows:

     

    
      	
            	Section
              1.	
              Incorporation
                of Plan

            

    

     

    All
      provisions of this Award Agreement and the rights of the Grantee hereunder
      are
      subject in all respects to the provisions of the Plan and the powers of the
      Board therein provided. Capitalized terms used in this Award Agreement but
      not
      defined shall have the meaning set forth in the Plan. 

     

    
      	
            	Section
              2.	
              Grant
                of Stock Appreciation
                Rights

            

    

     

    As
      of the
      Grant Date identified above, the Company grants to the Grantee, subject to
      the
      terms and conditions set forth herein and in the Plan, the right and privilege
      to receive compensation equal to the appreciation on each of the Shares
      identified above opposite the heading "Total Number of Shares Subject to SARs",
      from the Grant Date to the date the SAR with respect to such Shares is
      exercised. 

     

    
      	
            	Section
              3.	
              Exercisability
                of SAR

            

    

     

    
      	 	
              (a)

            	
              During
                the Grantee's lifetime, this SAR may be exercised only by the Grantee.
                This SAR, except as specifically provided elsewhere under the terms
                of the
                Plan, shall become exercisable as
                follows:

            

    

     

    
      	
              Years
                Elapsed from Grant Date

            	 	
              Percentage
                of SAR Exercisable

            
	
              1
                Year

            	 	
              20%

            
	
              2
                Years

            	 	
              40%

            
	
              3
                Years

            	 	
              60%

            
	
              4
                Years

            	 	
              80%

            
	
              5
                Or More Years

            	 	
              100%

            

    

    

    For
      purposes of this Section 3, a Year shall mean a period of 365 days (or 366
      days
      in the event of a leap year). 

     

    
      	 	
              (b)

            	
              In
                the event of the Grantee's death or Disability while the Grantee
                is
                employed on a "Full-Time
                Basis" (as defined below) by the Company, the SAR shall become fully
                exercisable. For purposes of this Agreement, "Full-Time Basis" means
                the
                Grantee is regularly scheduled to work 30 or more hours per week.
                For
                purposes of this Agreement, except where the Board otherwise
                determines,
                a
                Grantee who, immediately before taking a Company-approved leave of
                absence, was employed on a Full-Time Basis will be considered employed
                on
                a Full-Time Basis during the period of such Company-approved leave.
                If the
                Grantee dies or becomes Disabled following the Grantee's Termination
                of
                Affiliation, or following the Grantee ceasing to be employed on a
                Full-Time Basis, the exercisability of the SAR shall not accelerate
                due to
                such death or Disability and shall be exercisable only to the extent
                it
                was exercisable on the date of the Grantee's Termination of Affiliation
                or
                the date the Grantee ceased to be employed on a Full-Time
                Basis.

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    
      	
            	Section
              4.	
              Method
                of Exercise

            

    

     

    Provided
      this SAR has not expired, been terminated or cancelled in accordance with the
      terms of the Plan, that percentage of the SAR which is exercisable in accordance
      with Section 3 above may be exercised, in whole or in part and from time to
      time, by delivery to the Company or its designee a written notice or such other
      electronic or telephonic notice as may be acceptable to the Company or its
      designee which shall:

     

    
      	 	
              (a)

            	
              set
                forth the number of Shares with respect to which the SAR is to be
                exercised (such number must be in a minimum amount of 50 Shares);
                and
                

            

    

     

    
      	
            	(b)	
              if
                the person exercising this SAR is not the Grantee, be accompanied
                by
                satisfactory evidence of such person's right to exercise this
                SAR. 

            

    

     

    
      	
            	Section
              5.	
              Payment
                of SAR

            

    

     

    Upon
      the
      SAR Exercise Date, the Grantee shall be entitled to receive payment from the
      Company in an amount determined by multiplying (i) the positive difference
      between the Fair Market Value of a Share on the SAR Exercise Date over the
      Exercise Price per Share (as set forth at the beginning of this Award Agreement)
      by (ii) the number of Shares with respect to which the SAR is exercised. The
      payment upon a SAR exercise shall be solely in whole Shares equal in value
      to
      the amount of payment calculated immediately above. Fractional Shares shall
      be
      rounded down to the nearest whole Share with no cash consideration being paid
      upon exercise.

     

    
      	
            	Section
              6.	
              Expiration
                of SAR

            

    

     

    Unless
      terminated earlier in accordance with the terms of this Award Agreement or
      the
      Plan, the SAR granted herein shall expire at 5:00 P.M., U.S. Central Time,
      on
      the tenth (10th)
      Anniversary of the Grant Date (the "Expiration Date"). If the Expiration Date
      is
      a Saturday, Sunday or any other day which is a holiday of the United States
      Federal Government (a "Non-Business Day"), then the SAR granted herein shall
      expire, unless earlier terminated in accordance with the terms of this Award
      Agreement or the Plan, at 5:00 P.M., U.S. Central Time, on the first day that
      is
      not a Non-Business Day (a "Business Day") following such Expiration Date.

     

    
      	
            	Section
              7.	
              Effect
                of Termination of Affiliation or Cessation as Full-Time
                Employee

            

    

     

    If
      the
      Grantee has a Termination of Affiliation or ceases to be employed on a Full-Time
      Basis for any reason, including termination by the Company with or without
      Cause, voluntary resignation, change in employment status from full-time to
      part-time, death, or Disability, the effect of such Termination of Affiliation
      or ceasing to be employed on a Full-Time Basis on all or any portion of this
      SAR
      is as provided below. Notwithstanding anything below to the contrary, in no
      event may the SAR be exercised after the Expiration Date. 

     

    
      	 	
              (a)

            	
              If
                the Grantee has a Termination of Affiliation within the SAR Term
                for
                Cause, the SAR shall thereafter be void for all purposes upon such
                Termination of Affiliation. The effect of this Section 7(a) shall
                be
                limited to determining the conditions under which a SAR may be rendered
                null and void, and nothing in this Section 7(a) shall restrict or
                otherwise interfere with the Company's discretion with respect to
                the
                termination of any employee's employment with the
                Company.

            

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
      	 	
              (b)

            	
              If
                the Grantee has a Termination of Affiliation or ceases to be employed
                on a
                Full-Time Basis within the SAR Term due to the Grantee's voluntary
                resignation, change in employment status from full-time to part-time,
                or
                termination by the Company other than for Cause, the SAR may be exercised
                by the Grantee at any time prior to 5:00 P.M., U.S. Central Time,
                on the
                ninetieth (90th) calendar day following the Grantee's Termination
                of
                Affiliation or the date Grantee ceased to be employed on a Full-Time
                Basis, as the case may be, (but in no event later than the Expiration
                Date). If such ninetieth (90th) day shall not be a Business Day,
                then the
                SAR shall expire at 5:00 P.M., U.S. Central Time, on the first (1st)
                Business Day immediately following such ninetieth (90th) day. In
                any such
                case, the SAR may be exercised only as to the Shares as to which
                the SAR
                had become exercisable on or before the date of the Termination of
                Affiliation or the date the Grantee ceased to be employed on a Full-Time
                Basis, as the case may be.

            

    

     

    
      	 	
              (c)

            	
              If
                the Grantee dies or becomes Disabled within the SAR Term (A) while
                he or
                she is employed on a Full-Time Basis, or (B) within the ninety-day
                period
                referred to in clause (b) above, the SAR may be exercised by the
                Grantee
                or the Grantee's Beneficiaries entitled to do so at any time prior
                to 5:00
                P.M., U.S. Central Time, on the 365th
                calendar day following the date of the Grantee's death or Disability
                (but
                in no event later than the Expiration Date). If such 365th
                day is not a Business Day, then the SAR shall expire at 5:00 P.M.,
                U.S.
                Central Time, on the first (1st) Business Day immediately following
                such
                365th
                day. In any such case, the SAR may be exercised only as to the Shares
                as
                to which the SAR had become exercisable on or before the date of
                the
                Grantee's death or Disability, or at such time as the Grantee ceased
                to be
                employed on a Full-Time Basis, whichever is
                earlier.

            

    

     

    
      	 	
              (d)

            	
              If
                the Grantee has a Termination of Affiliation during a Change in Control
                Period (which is the one year period following a Change of Control)
                and
                such Termination of Affiliation is initiated by the Company or a
                Subsidiary other than for Cause or initiated by the Grantee for Good
                Reason, then all SARs shall immediately become exercisable and may
                be
                exercised, in whole or in part, by the Grantee at any time prior
                to 5:00
                P.M., U.S. Central Time, on the ninetieth (90th) calendar day following
                the Grantee's Termination of Affiliation (but in no event later than
                the
                Expiration Date).

            

    

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    
      	
            	Section
              8.	
              Investment
                Intent

            

    

     

    The
      Grantee agrees that the Shares acquired on exercise of this SAR shall be
      acquired for his/her own account for investment only and not with a view to,
      or
      for resale in connection with, any distribution or public offering thereof
      within the meaning of the Securities Act of 1933 (the "1933 Act") or other
      applicable securities laws. If the Board so determines, any share certificates
      issued upon exercise of this SAR shall bear a legend to the effect that the
      Shares have been so acquired. The Company may, but in no event shall be required
      to, bear any expenses of complying with the 1933 Act, other applicable
      securities laws or the rules and regulations of any national securities exchange
      or other regulatory authority in connection with the registration,
      qualification, or transfer, as the case may be, of this SAR or any Shares
      acquired upon the exercise thereof. The foregoing restrictions on the transfer
      of the Shares shall be inoperative if (a) the Company previously shall have
      been
      furnished with an opinion of counsel, satisfactory to it, to the effect that
      such transfer will not involve any violation of the 1933 Act and other
      applicable securities laws or (b) the Shares shall have been duly registered
      in
      compliance with the 1933 Act and other applicable state or federal securities
      laws. If this SAR, or the Shares subject to this SAR, are so registered under
      the 1933 Act, the Grantee agrees that he will not make a public offering of
      the
      said Shares except on a national securities exchange on which the common shares
      of the Company are then listed.

     

    
      	
            	Section
              9.	
              Nontransferability
                of SAR

            

    

     

    Except
      as
      provided above in Section 7(c) (in the event of the Grantee's death) in which
      case the SAR may be transferred by will, or by the laws of descent and
      distribution, no portion of the SAR granted hereunder may be sold, transferred,
      pledged, assigned, or otherwise alienated or hypothecated, including, without
      limitation, any purported transfer to a current spouse or former spouse in
      connection with a legal separation or divorce proceeding. All rights with
      respect to the SAR granted to the Grantee shall be available during his or
      her
      lifetime only to the Grantee.

     

    
      	
            	Section
              10.	
              Restrictive
                Covenants

            

    

     

    As
      a
      condition of this SAR and in addition to any restrictive agreements the Grantee
      may have entered into with the Company, the Grantee accepts and agrees to be
      bound as follows:

     

    
      	 	
              (a)

            	
              Nondisclosure
                of SAR Terms.
                The Grantee agrees not to disclose or cause to be disclosed at any
                time,
                nor authorize anyone to disclose any information concerning this
                Award
                Agreement or the Grantee's SAR except (i) as required by law, or
                (ii) to a
                permitted transferee listed in Section 9 who agrees to be bound by
                this
                Paragraph 10(a), or (iii) to the Grantee's legal and financial advisors
                who agree to be bound by this Paragraph
                10(a).

            

    

     

    
      	 	
              (b)

            	
              Noncompetition.
                During the Grantee's employment and until one year after the Grantee
                ceases being employed by or acting as a consultant or independent
                contractor to the Company or any Subsidiary, the Grantee 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
                the Grantee's knowledge) plans to conduct business. Nothing in this
                Section 10(b) shall, however, restrict the Grantee 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; provided that such
                investment does not give the Grantee the right or ability to control
                or
                influence the policy decisions of any direct competitor of the Company
                or
                a Subsidiary.

            

    

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    
      	 	
              (c)

            	
              Noninterference.
                During the Grantee's employment and until one year after the Grantee
                ceases being employed by or acting as a consultant or independent
                contractor to the Company or any Subsidiary, the Grantee 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 the Grantee's knowledge) prospective business relation
                of
                the Company or any Subsidiary.

            

    

     

    
      	 	
              (d)

            	
              Nonsolicitation.
                During the Grantee's employment and until one year after the Grantee
                ceases being employed by or acting as a consultant or independent
                contractor to the Company or any Subsidiary, the Grantee 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.

            

    

     

    
      	 	
              (e)

            	
              Confidentiality.
                The Grantee acknowledges 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 ("Confidential Information"). The Grantee
                recognizes 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. The Grantee shall not at any time disclose or authorize
                anyone else to disclose any Confidential Information or proprietary
                information that (A) is disclosed to or known by the Grantee as a
                result
                or as a consequence of or through the Grantee's performance of services
                for the Company or any Subsidiary, (B) is not publicly or generally
                known
                outside the Company and (C) relates in any manner to the Company's
                business. This obligation will continue even though the Grantee's
                employment with the Company or a Subsidiary may have terminated.
                This
                paragraph 10(e) shall apply in addition to, and not in derogation
                of any
                other confidentiality agreements that may exist, now or in the future,
                between the Grantee and the Company or any
                Subsidiary.

            

    

     

    
      	 	
              (f)

            	
              No
                Detrimental Communications.
                The Grantee agrees 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 Company or any Subsidiary, or about prospects for the future
                of the
                Company or any Subsidiary.

            

    

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    
      	 	
              (g)

            	
              Remedy.
                The Grantee acknowledges the consideration provided herein (absent
                the
                Grantee's agreement to this Section 10) is more than Garmin is obligated
                to pay, and the Grantee further acknowledges that irreparable harm
                would
                result from any breach of this Section and monetary damages would
                not
                provide adequate relief or remedy. Accordingly, the Grantee specifically
                agrees that, if the Grantee breaches any of the Grantee's obligations
                under this Section 9, the Company and any Subsidiary 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 SAR shall
                terminate immediately the first date on which the Grantee engages
                in such
                activity and the Board shall be entitled on or after the first date
                on
                which the Grantee engages in such activity to require the Grantee
                to
                return any Shares obtained by the Grantee's exercise of this SAR
                to the
                Company and to require the Grantee to repay any proceeds received
                at any
                time from the sale of Shares obtained by the Grantee's exercise of
                this
                SAR (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
                Wall Street Journal)
                and to recover all reasonable attorneys' fees and expenses incurred
                in
                terminating this SAR and recovering such Shares and
                proceeds.

            

    

     

    
      	
            	Section
              11.	
              Status
                of the Grantee

            

    

     

    The
      Grantee shall not be deemed a shareholder of the Company with respect to any
      of
      the Shares subject to this SAR, except to the extent that such Shares shall
      have
      been issued to him or her. The Company shall not be required to issue or
      transfer any certificates for Shares otherwise required to be transferred upon
      exercise of this SAR until all applicable requirements of law have been complied
      with and such Shares shall have been duly listed on any securities exchange
      on
      which the Shares may then be listed.

     

    
      	
            	Section
              12.	
              No
                Effect on Capital
                Structure

            

    

     

    This
      SAR
      shall not affect the right of the Company to reclassify, recapitalize or
      otherwise change its capital or debt structure or to merge, consolidate, convey
      any or all of its assets, dissolve, liquidate, windup, or otherwise
      reorganize.

     

    
      	
            	Section
              13.	
              Adjustments

            

    

     

    Notwithstanding
      any provision herein to the contrary, in the event of any change in the number
      of outstanding Shares effected without receipt of consideration therefor by
      the
      Company, by reason of a merger, reorganization, consolidation, recapitalization,
      separation, liquidation, stock dividend, stock split, share combination or
      other
      change in the corporate structure of the Company affecting the Shares, the
      aggregate number and class of Shares subject to this SAR and the exercise price
      of this SAR shall be automatically adjusted to accurately and equitably reflect
      the effect thereon of such change; provided, however, that any fractional share
      resulting from such adjustment shall be eliminated. In the event of a dispute
      concerning such adjustment, the decision of the Board shall be
      conclusive.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    
      	
            	Section
              14.	
              Amendments
                

            

    

     

    This
      Award Agreement may be amended only by a writing executed by the Company and
      the
      Grantee which specifically states that it is amending this Award Agreement;
      provided that this Award 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 the Grantee's rights under this
      Award Agreement without the Grantee's consent.

     

    
      	
            	Section
              15.	
              Board
                Authority

            

    

     

    Any
      questions concerning the interpretation of this Award Agreement, any adjustments
      required to be made under Sections 13 or 14 of this Award Agreement, and any
      controversy which arises under this Award Agreement shall be settled by the
      Board in its sole discretion.

     

    
      	
            	Section
              16.	
              Withholding

            

    

     

    The
      Company shall withhold from any payment to the Grantee upon the Grantee's
      exercise of this SAR all applicable Federal, state or local income tax or
      payroll tax withholding amounts required by law to be withheld. 

     

    
      	
            	Section
              17.	
              Freestanding
                SAR

            

    

     

    This
      SAR
      is freestanding and has been granted independently of any stock option issued
      by
      the Company.

     

    
      	
            	Section
              18.	
              Notice

            

    

     

    Whenever
      any notice is required or permitted hereunder, such notice must be given in
      writing by (a) personal delivery, or (b) expedited, recognized delivery service
      with proof of delivery, or (c) United States Mail, postage prepaid, certified
      mail, return receipt requested, or (d) telecopy or email (provided that the
      telecopy or email is confirmed). Any notice required or permitted to be
      delivered hereunder shall be deemed to be delivered on the date which it was
      personally delivered, sent to the intended addressee, or, whether actually
      received or not, on the third business day after it is deposited in the United
      States mail, certified or registered, postage prepaid, addressed to the person
      who is to receive it at the address which such person has theretofore specified
      by written notice delivered in accordance herewith. The Company or the Grantee
      may change, at any time and from time to time, by written notice to the other,
      the address specified for receiving notices. Until changed in accordance
      herewith, the Company's address for receiving notices shall be Garmin Ltd.,
      Attention: General Counsel, 1200 East 151st Street, Olathe, KS 66062. Unless
      changed, the Grantee's address for receiving notices shall be the last known
      address of the Grantee on the Company's records. It shall be the Grantee's
      sole
      responsibility to notify the Company as to any change in his or her address.
      Such notification shall be made in accordance with this Section 18.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    

    
      	
            	Section
              19.	
              Severability

            

    

     

    If
      any
      part of this Award 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 Award 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 10 are determined by a court to be
      unenforceable in whole or in part because of such covenant'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.

     

    
      	
            	Section
              20.	
              Binding
                Effect

            

    

     

    This
      Award Agreement shall bind, and, except as specifically provided herein, shall
      inure to the benefit of the respective heirs, legal representatives, successors
      and assigns of the parties hereto.

     

    
      
        	
              	Section
                21.	
                Governing
                  Law

              

      

    

     

    This
      Award Agreement and the rights of all persons claiming hereunder shall be
      construed and determined in accordance with the laws of the State of Kansas
      without giving effect to the principles of the Conflict of Laws to the
      contrary.

     

    
      
        
        

      

      
        9Exhibit
      10.1

     

    Summary
      of Comprehensive Credit Facility Agreement of Maximum Amount (Comprehensive
      Agreement) entered into between Shenzhen BAK Battery Co., Ltd (“the Company”)
      and Shenzhen Branch, China CITIC Bank (“the Creditor”) on March 14,
      2007.

    

    Summary
      of main contents: 

     

    
      	
              ·

            	
              Contract
                number: No. 2007Shenyin sun’ezi 002

            

    

    
      	 	 

    

    
      	
              ·

            	
              Maximum
                amount for credit facilities to be provided: RMB 200 million;
                

            

    

    
      	 	 

    

    
      	
              ·

            	
              Loan
                Term: from March 14, 2007 to March 14, 2008;

            

    

    
      	 	 

    

    
      	
              ·

            	
              Interest
                rate of loan shall be subject to each loan agreement/contract to
                be
                signed;

            

    

    
      	 	 

    

    
      	
              ·

            	
              The
                Company shall apply for using the credit facilities within three
                months,
                otherwise, the Creditor is eligible to terminate all/part of the
                credit
                facility under the agreement;

            

    

    
      	 	 

    

    
      	
              ·

            	
              Adjustment
                of credit can be made by the Creditor under the any of the
                following:

            

    

    
    

     

    
      	(i)  	
              The
                industry the Company locates severely
                deteriorates;

            

    

    
      	 	 

    

    
      	(ii)  	
              The
                Company does not provide true financial statement and other material
                information relating to its
                business;

            

    

    
      	 	 

    

    
      	(iii)  	
              The
                Company suffers severe operational risk or its financial situation
                severely deteriorates;

            

    

    
      	 	 

    

    
      	(iv)  	
              The
                Company does not accept related settlement service and deposit service
                offered by the Creditor.

            

    

    
      	 	 

    

    
      	(v)  	
              The
                Company shall not change the use of loan without prior consent of
                the
                Creditor;

            

    

    
      	 	 

    

    
      	(vi)  	
              The
                Company defaults the repayment of the credit facility offered by
                the
                Creditor;

            

    

    
      	 	 

    

    
      	(vii)  	
              Without
                prior consent of the Creditor, the Company implements or commences
                to
                implement, among other things, any merger, split or joint venture
                that
                could influence the right of the
                Creditor.

            

    

    
      	 	 

    

    
      	(viii)  	
              The
                Company is involved in any material litigation or
                arbitration;

            

    

    
      	 	 

    

    
      	(ix)  	
              The
                officers of the Company are involved in material corruption, bribery,
                malpractice or other illegal case;

            

    

    
      	 	 

    

    
      	(x)  	
              The
                Company does not implement its obligations under Comprehensive Agreement
                or loan agreements executed under Comprehensive
                Agreement;

            

    

    
      	 	 

    

    
      	(xi)  	
              The
                Company is in breach of any contract signed with any other
                creditor.

            

    

     

    
      	
              ·

            	
              Breach
                of contract penalty: cancellation or reduction of credit, cancellation
                of
                unused credit; demand prepayment of loan and other measures; demand
                additional guaranty, or take other measures that is necessary to
                secure
                the Creditor’s rights; deduct the loan payment from the Company’s other
                accounts at the Creditor and its
                affiliates.

            

    

    

    Headlines
      of articles omitted:

     

    
      	
              ·

            	
              Credit
                amounts and types

            

    

    
      	 	 

    

    
      	
              ·

            	
              Use
                of the line of credit

            

    

    
      	 	 

    

    
      	
              ·

            	
              Representations
                and undertakings of the Creditor 

            

    

    
      	 	 

    

    
      	
              ·

            	
              Representations
                and undertakings of the Company

            

    

    
      	 	 

    

    
      	
              ·

            	
              Adjustment
                or cancellation of the line of
                credit

            

    

    
      	 	 

    

    
      	
              ·

            	
              Guaranty
                of contract Breach of contract penalty

            

    

    
      	 	 

    

    
      	
              ·

            	
              Effectiveness,
                amendment or expiry 

            

    

    
      	 	 

    

    
      	
              ·

            	
              Dispute
                settlement Miscellaneous

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]