Document:

Project
      No.

            	
              SA09-002

            
	 	 
      	 
      
	 	
              Contract
      No.

            	
              SA09ZL-001

            

    

    

    

    Land
Lease Contract

    

    

    
      	
              Party
      A (Lessor):

            	
              No.
      3 Company of Shenyang Lumber General Corporation

            
	 
      	 
      
	
              Party
      B (Lessee):

            	
              Shaanxi
      Suo’ang New Energy Enterprise Co.,
Ltd.

            

    

    

    
      	
              Place
      of Execution:

            	
              Shenyang
      City

            
	 
      	 
      
	
              Date
      of Execution:

            	
              July
      21, 2009

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    Land
Lease Contract

    

    

    
      	
              Party
      A (Lessor):

            	
              No.
      3 Company of Shenyang Lumber General Corporation

            
	 
      	 
      
	
              Legal
      Representative:

            	
              LIANG
      Jianhua

            
	 
      	 
      
	
              Address:

            	
              Wenguantun,
      Qianjin Town, Dongling District, Shenyang
City

            

    

    

    Postal
Code:

    

    Telephone:

    

    Fax
Number:

    

    
      	
              Porject
      Contact:

            	
              YU
      Jie

            
	 
      	 
      
	 
      	 
      
	 
      	 
      
	
              Party
      B (Lessee):

            	
              Shaanxi
      Suo’ang New Energy Enterprise Co., Ltd.

            
	 
      	 
      
	
              Legal
      Representative:

            	
              ZHOU
      Peng

            
	 
      	 
      
	
              Address:

            	
              Dongjiahe
      Town, Yaozhou District, Tongchuan City

            
	 
      	
              Shaanxi
      Province, China

            
	 
      	 
      
	
              Postal
      Code:

            	
              727100

            
	 
      	 
      
	
              Telephone
      (Switch Board):

            	
              0919-6985809

            
	 
      	 
      
	
              Fax
      Number:

            	
              0919-6985811

            
	 
      	 
      
	
              Porject
      Contact:

            	
              LI
      Fu

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    In
accordance with Contract Law and other related laws and regulations, with regard
to the matter that Party A leases the land of 7,400 square meters in Wenguantun,
Qianjin Town, Dongling District, Shenyang City to Party B for the project of
constructing a coal-water slurry fuel plant, Party A and Party B, based on the
principles of self volition, equality and mutual benefit, through negotiation,
agree as follows:

    

    I.           
Location, Coverage and Function and Use of Land

    

    1.           The
Lessor will lease to the lessee the land of 7400 square meters located in
Wenguantun, Qianjin Town, Dongling District, Shenyang City.

    

    2.           The
use of the land must be within the approved business scope set forth in the
“Business License” of Party B.

    

    3.           The
land is leased in the manner of rent-only, Party B shall undertake the
construction and management and bear all the associated costs, expenses and
fees.

    

    

    II.           Term
of Lease

    

    1.           The
term of the lease is 10 years starting from August 1, 2009 and ending on August
1, 2019.

    

    2.           Within
6 months prior to the expiration of the lease, Party A and Party B may negotiate
for Party B to renew the lease but a new lease contract shall be
executed.  Party B is entitled to the first refusal right to lease the
land under the same terms.

    

    

    III.         Rent
and the Form of Payment

    

    1.           Rent:
Renminbi (“RMB”) Two Hundred Forty Thousand (¥240,000.00) per year.

    

    2.           The
form of the payment of the rent is payment in advance.  Upon the
execution of this contract, the rent must be paid in one lump sum to Party A by
August 31, 2009.  The rent for each succeeding year must be paid in
one lump sum to Party A by July 31st of each
succeeding year.

    

    3.           During
the term of the lease, if the rent needs to be adjusted, Party A must have
justifiable reason and must notify Party B three months before the contemplated
adjustment.  The adjustment can only take effect upon execution of a
supplementary agreement after negotiation between the parties of this
contract.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IV.         Party
A’s Rights and Obligations

    

    1.           During
the term of the lease, Party A must assist Party B in managing the relationship
with the neighbors, perform relevant services, and assist Party B with
procedures of corporation registrations and with other procedures related to the
construction so as to ensure the stable production of the business
operation.

    

    2.           Party
A must ensure the provision of industrial electricity and water for the leased
land and must ensure that the roads and facilities are clear and unblocked
before Party B’s construction contractors enter the land.

    

    3.           During
the term of the lease, the leased land cannot be recovered without a consent of
Party B.  In the event that the leased land is to be recovered by the
government for social public construction, Party A must notify Party B in
written form, and make a public announcement of such recovery, with regard to
the location of the property to be recovered, the confines thereof, the grounds
for recovery and the date of recovery 6 months before the contemplated
recovery.  Party A must compensate Party B for economic loss due to
the earlier recovery of the leased land and the compensation amount shall be
determined through negotiation by considering the actual factors such as the
market value of the buildings, structures and fixtures on the leased land and
the remaining period of the term of the lease.

    

    4.           In
the event that Party A terminates this contract for no justifiable reason, Party
A shall pay to Party B a penalty equal to 30% of all the rent that has already
been paid in addition to the compensation for economic loss stipulated in
provision 3 of Article IV above.

    

    5.           During
the term of the lease, the personnel changes on the part of Party A shall not
affect the performance of this contract.

    

    6.           Party
A has the right to collect rent in the amount and at the time in accordance with
the provisions of this contract.

    

    

    V.           Party
B’s Rights and Obligations

    

    1.           The
business contemplated and operated by Party B must be in compliance with the
State industrial policies and with the State Safety Operation
Regulations.

    

    2.           During
the term of the lease, Party B has the right to run joint operation on the
leased land, sublease and pledge the leased land; Party A shall not interfere
with such actions.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    3.           Upon
expiration of the term of the lease, if Party A desires to continue to lease out
the leased land, Party B shall have the first right of refusal under the same
terms; if Party B wants to end the lease, Party B must notify Party A 3 months
prior to the expiration of the lease.

    

    4.           In
the event that Party B terminates the lease in the middle of the term for no
justifiable reason, Party B cannot demand the refund of the rent that has
already been paid, shall forfeit the right to the lease and cannot continue the
use of the buildings and fixtures on the leased land.

    

    5.           Party
B must pay to Party A the rent in the amount and at the time in accordance with
the provisions of this contract.

    

    6.           Party
B shall bear all the costs, expenses and fees in connection with the
construction of the liquefied coal pulp factory.

    

    

    VI.         Breach
of Contract

    

    1.           During
the term of the lease, Party B must pay the rent for the leased land on time; if
the rent payment is past due for less than 6 months, Party A shall have the
right to assess a 5% penalty; if the rent payment is past due for more than 6
months but less than a year, Party B shall have the right to terminate the lease
in addition to the right to assess a 5% penalty.

    

    2.           During
the term of the lease, Party A shall bear full responsibility for all the
problems resulting from issues regarding property right certificate that affect
Party B’s normal operation and shall compensate Party B for any resulting
loss.

    

    

    VII.        Miscellaneous
Stipulations and Matters

    

    1.           During
the term of the lease, both Party A and Party B shall follow the State laws and
regulations and shall not use the leased land to engage in any illegal
activities.

    

    2.           During
the term of the lease, Party A has the right to supervise and assist Party B
with any work in connection with construction in the civilized manner and with
operation safety and other related work.

    

    3.           During
the term of the lease, neither party shall bear any responsibility for inability
to perform the contract due to Force Majeure or to relocation ordered by the
city government.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    4.           Upon
the expiration of the lease, if Party A desires to continue to lease out the
leased land, Party B shall have the first right of refusal; if Party A does not
desire to continue to lease out the leased land, Party B must move out on
schedule; otherwise Party B must bear the responsibility for all the loss and
consequences resulting from such failure to move out on schedule.

    

    5.           In
the event of a change of enterprise name after the execution of this contract,
such change shall be verified by both parties and acknowledged by the seals and
signatures of both parties; the terms of the original lease contract shall
remain and continue to be performed until the end of the term of the
lease.

    

    

    VIII.       Any
matters not covered herein shall be settled by consensus and negotiation between
the parties hereto according to law.

    

    

    IX.          This
contract has one original and four copies, with two copies to each party and all
of them carry the same legal power.  This contract becomes effective
on the day of execution by both parties by affixing each respective party’s
signature and seal hereto.

    

    

    

    Party A
(seal):

     

    (seal of
No. 3 Company of Shenyang Lumber General Corporation)

    

    Authorized
Agent:

    

    Date: July
21, 2009

    

    

    

    Party B
(seal):

     

    (seal of
Shaanxi Suo’ang New Energy Enterprise Co., Ltd.)

    

    Authorized
Agent: (signature of LI Fu)

    

    Date: July
21, 2009Unassociated Document

    AMENDMENT NO. 2 TO RIGHTS
AGREEMENT

     

    THIS AMENDMENT NO. 2 dated as of April
9, 2010 (the "Amendment"), to the Rights Agreement dated as of October 25, 2001,
as amended on November 7, 2005 (the "Rights Agreement"), between Garmin Ltd., a
Cayman Islands company (the "Company"), and Computershare Trust Company, N.A.,
as successor rights agent to UMB Bank, n.a. (the "Rights Agent").

     

    RECITALS:

     

    WHEREAS,
the Company and the Rights Agent have heretofore executed and entered into the
Rights Agreement;

     

    WHEREAS,
pursuant to Section 26 of the Rights Agreement, from time to time the Company
may, and the Rights Agent shall if the Company so directs supplement and amend
the Rights Agreement;

     

    WHEREAS,
the Board of Directors of the Company has determined that an amendment to the
Rights Agreement as set forth herein is necessary and desirable to permit notice
to rights holders through the filing of a Form 8-K, as an alternative to the
current notice provisions which permit notice by first-class mail only, and the
Company desires to evidence such amendment in writing;

     

    WHEREAS,
all acts and things necessary to make this Amendment a valid agreement,
enforceable according to its terms have been done and performed, and the
execution and delivery of this Amendment by the Company have been in all
respects fully authorized by the Company.

     

    In consideration of the foregoing and
the mutual agreements set forth herein, the parties agree as
follows:

     

    1.    The
Rights Agreement is hereby modified and amended by deleting the second and third
sentences of Section 23(b) in their entirety and replacing them with the
following:

     

    "Promptly
after the action of the Board of Directors ordering the redemption for the
Rights, the Company shall file with the Rights Agent evidence of such action by
the Board of Directors and shall give notice of such redemption to the holders
of the then outstanding Rights in the manner permitted under Section 25
hereof.  Any notice which is made in accordance with the provisions of
Section 25 hereof shall be deemed given, whether or not the holder receives the
notice."

     

    2.    The
Rights Agreement is hereby modified and amended by deleting the last sentence of
Section 25 in its entirety and replacing it with the following:

     

    "Notices
or demands authorized by this Agreement to be given or made by the Company or
the Rights Agent to the holder of any right or any Rights Certificate shall be
sufficiently given or made if either (i) publicly announced through the filing
of a Current Report on Form 8-K on the Securities and Exchange Commission's
EDGAR database, or (ii) sent by first-class mail, postage prepaid, addressed to
such holder at the address of such holder as shown on the register of members of
the Company."

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    3.    This
Amendment shall be governed by and construed in accordance with the laws of the
State of Delaware for all purposes and shall be governed by and construed in
accordance with the laws of such State applicable to contracts to be made and
performed entirely within such State.

     

    4.    This
Amendment may be executed in any number of counterparts and each of such
counterparts shall for all purposes be deemed an original and all such
counterparts shall together constitute but one and the same
instrument.  A signature to this Amendment transmitted electronically
shall have the same authority, effect and enforceability as an original
signature.

     

    5.    If any
provision, covenant or restriction of this Amendment is held by a court of
competent jurisdiction or other authority to be invalid, illegal or
unenforceable, the remainder of the terms, provisions, covenants and
restrictions of this Amendment shall remain in full force and effect and shall
in no way be effected, impaired or invalidated.  Except as otherwise
expressly provided herein, or unless the context otherwise requires, all terms
used herein have the meanings assigned to them in the Rights
Agreement.  The Rights Agent and the Company hereby waive any notice
requirement under the Rights Agreement pertaining to the matters covered by this
Amendment.

     

    IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed and attested, all as of the date and year first written
above.

     

    
      
        
          
            
              
                
                  
                    	 	GARMIN
      LTD.	 
	 	 	 
	 	 	 	 
	 	

                            By: 

                          	
                            /s/ Clifton
      Pemble

                          	 
	 	Name:	
                            Clifton
      Pemble

                          	 
	 	Title: 	
                            President
      and Chief Operating Officer

                          	 
	 	 	 	 

                  

                

              

            

          

        

      

    

    
       

      
        
          
            
              
                
                  
                    
                      	 	

                              COMPUTERSHARE
      TRUST COMPANY, N.A.

                              (As
      Rights Agent)

                            	 
	 	 	 
	 	 	 	 
	 	

                              By: 

                            	
                              /s/ Dennis V.
      Moccia

                            	 
	 	Name:	
                              Dennis V.
      Moccia

                            	 
	 	Title: 	
                              Manager, Contract
      Administration

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