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Garmin Ltd – ‘10-K’ for 12/28/13 – ‘EX-10.40’

On:  Wednesday, 2/19/14, at 12:02pm ET   ·   For:  12/28/13   ·   Accession #:  1144204-14-10483   ·   File #:  0-31983

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/19/14  Garmin Ltd                        10-K       12/28/13   92:15M                                    Toppan Merrill/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.39M 
 2: EX-3.2      Articles of Incorporation/Organization or Bylaws    HTML    156K 
 3: EX-10.40    Material Contract                                   HTML     36K 
 4: EX-21.1     Subsidiaries List                                   HTML     44K 
 5: EX-23.1     Consent of Experts or Counsel                       HTML     31K 
 6: EX-31.1     Certification -- §302 - SOA'02                      HTML     34K 
 7: EX-31.2     Certification -- §302 - SOA'02                      HTML     33K 
 8: EX-32.1     Certification -- §906 - SOA'02                      HTML     31K 
 9: EX-32.2     Certification -- §906 - SOA'02                      HTML     30K 
64: R1          Document And Entity Information                     HTML     58K 
50: R2          Consolidated Balance Sheets                         HTML    184K 
62: R3          Consolidated Balance Sheets (Parenthetical)         HTML     42K 
66: R4          Consolidated Statements of Income                   HTML     93K 
85: R5          Consolidated Statements of Comprehensive Income     HTML     46K 
52: R6          Consolidated Statements of Stockholders' Equity     HTML     77K 
61: R7          Consolidated Statements of Stockholders' Equity     HTML     29K 
                (Parenthetical)                                                  
45: R8          Consolidated Statements of Cash Flows               HTML    158K 
35: R9          Description of the Business                         HTML     30K 
86: R10         Summary of Significant Accounting Policies          HTML    153K 
68: R11         Marketable Securities                               HTML    160K 
67: R12         Commitments and Contingencies                       HTML     43K 
73: R13         Employee Benefit Plans                              HTML     31K 
74: R14         Income Taxes                                        HTML    173K 
71: R15         Fair Value of Financial Instruments                 HTML     45K 
75: R16         Segment Information                                 HTML    143K 
63: R17         Stock Compensation Plans                            HTML    143K 
65: R18         Earnings Per Share                                  HTML     59K 
70: R19         Share Repurchase Plan                               HTML     33K 
92: R20         Redomestication                                     HTML     70K 
81: R21         Accumulated Other Comprehensive Income              HTML     58K 
57: R22         Selected Quarterly Information (Unaudited)          HTML     64K 
69: R23         Acquisitions                                        HTML     45K 
59: R24         Schedule Ii - Valuation and Qualifying Accounts     HTML    100K 
27: R25         Summary of Significant Accounting Policies          HTML    235K 
                (Policies)                                                       
82: R26         Summary of Significant Accounting Policies          HTML     81K 
                (Tables)                                                         
89: R27         Marketable Securities (Tables)                      HTML    151K 
40: R28         Commitments and Contingencies (Tables)              HTML     37K 
39: R29         Income Taxes (Tables)                               HTML    158K 
43: R30         Fair Value of Financial Instruments (Tables)        HTML     46K 
44: R31         Segment Information (Tables)                        HTML    139K 
46: R32         Stock Compensation Plans (Tables)                   HTML    131K 
23: R33         Earnings Per Share (Tables)                         HTML     56K 
79: R34         Redomestication (Tables)                            HTML     72K 
55: R35         Accumulated Other Comprehensive Income (Tables)     HTML     58K 
58: R36         Selected Quarterly Information (Unaudited)          HTML     62K 
                (Tables)                                                         
30: R37         Summary of Significant Accounting Policies          HTML     40K 
                (Inventories) (Detail)                                           
91: R38         Summary of Significant Accounting Policies          HTML     32K 
                (Property and Equipment Estimated Useful Lives)                  
                (Detail)                                                         
16: R39         Summary of Significant Accounting Policies (Change  HTML     34K 
                in Carrying Amount of Goodwill) (Detail)                         
47: R40         Summary of Significant Accounting Policies          HTML     39K 
                (Product Warranty) (Detail)                                      
84: R41         Summary of Significant Accounting Policies          HTML    164K 
                (Additional Information) (Detail)                                
29: R42         Marketable Securities (Available for Sale           HTML     54K 
                Securities Measured at Estimated Fair Value on                   
                Recurring Basis) (Detail)                                        
38: R43         Marketable Securities (Classified as                HTML     57K 
                Available-For-Sale Securities) (Detail)                          
42: R44         Marketable Securities (Amortized Cost and           HTML     67K 
                Estimated Fair Value of Marketable Securities by                 
                Contractual Maturity) (Detail)                                   
51: R45         Marketable Securities (Additional Information)      HTML     38K 
                (Detail)                                                         
22: R46         Commitments and Contingencies (Future Minimum       HTML     45K 
                Lease Payments) (Detail)                                         
34: R47         Commitments and Contingencies (Additional           HTML     37K 
                Information) (Detail)                                            
18: R48         Employee Benefit Plans (Additional Information)     HTML     35K 
                (Detail)                                                         
83: R49         Income Taxes (Income Tax Provision Benefit)         HTML     66K 
                (Detail)                                                         
28: R50         Income Taxes (Sources and Tax Effects of            HTML     57K 
                Differences of Income Tax Provision from Amount                  
                Computed by Applying Statutory Federal Income Tax                
                Rate to Income Before Taxes, Including Impact of                 
                Establishing Tax Contingency Accruals) (Detail)                  
80: R51         Income Taxes (Significant Components of Deferred    HTML    101K 
                Tax Assets and Liabilities) (Detail)                             
31: R52         Income Taxes (Unrecognized Tax Benefits) (Detail)   HTML     42K 
48: R53         Income Taxes (Additional Information) (Detail)      HTML     92K 
17: R54         Fair Value of Financial Instruments (Carrying       HTML     38K 
                Amounts and Fair Values of Financial Instruments)                
                (Detail)                                                         
21: R55         Segment Information (Net Sales Operating Income     HTML     55K 
                and Income Before Taxes for Reportable Segments)                 
                (Detail)                                                         
41: R56         Segment Information (Net Sales and Property and     HTML     55K 
                Equipment Net by Geographic Area) (Detail)                       
25: R57         Stock Compensation Plans (Stock-Based Compensation  HTML     62K 
                Activity Stock Options and SARs) (Detail)                        
87: R58         Stock Compensation Plans (Stock-Based Compensation  HTML     57K 
                Related Information Stock Options and SARs)                      
                (Detail)                                                         
54: R59         Stock Compensation Plans (Stock-Based Compensation  HTML     52K 
                Activity Restricted Stock Units) (Detail)                        
72: R60         Stock Compensation Plans (Weighted-Average          HTML     40K 
                Assumptions Used for Fair Value of Options                       
                Estimated Using Black-Scholes Option Pricing                     
                Model) (Detail)                                                  
33: R61         Stock Compensation Plans (Additional Information)   HTML    112K 
                (Detail)                                                         
36: R62         Earnings Per Share (Computation of Basic and        HTML     57K 
                Diluted Net Income Per Share) (Detail)                           
78: R63         Earnings Per Share (Additional Information)         HTML     30K 
                (Detail)                                                         
76: R64         Share Repurchase Plan (Additional Information)      HTML     46K 
                (Detail)                                                         
56: R65         Redomestication (Summary of Components of           HTML     54K 
                Authorized Shares) (Detail)                                      
77: R66         Redomestication (Summary of Components of           HTML     39K 
                Authorized Shares) (Parenthetical) (Detail)                      
32: R67         Redomestication (Additional Information) (Detail)   HTML     40K 
60: R68         Accumulated Other Comprehensive Income (Changes in  HTML     75K 
                Accumulated Other Comprehensive Income) (Details)                
88: R69         Accumulated Other Comprehensive Income              HTML     39K 
                (Reclassifications Out of AOCI) (Details)                        
20: R70         Selected Quarterly Information (Unaudited)          HTML     45K 
                (Quarterly Information) (Detail)                                 
26: R71         Acquisitions (Additional Information) (Detail)      HTML     41K 
49: R72         Schedule Ii - Valuation and Qualifying Accounts     HTML     52K 
                (Detail)                                                         
24: R73         Schedule Ii - Valuation and Qualifying Accounts     HTML     31K 
                (Parenthetical) (Detail)                                         
90: XML         IDEA XML File -- Filing Summary                      XML    140K 
19: EXCEL       IDEA Workbook of Financial Reports                  XLSX    226K 
37: EXCEL       IDEA Workbook of Financial Reports (.xls)            XLS   2.16M 
10: EX-101.INS  XBRL Instance -- grmn-20131228                       XML   3.26M 
12: EX-101.CAL  XBRL Calculations -- grmn-20131228_cal               XML    236K 
15: EX-101.DEF  XBRL Definitions -- grmn-20131228_def                XML   1.31M 
13: EX-101.LAB  XBRL Labels -- grmn-20131228_lab                     XML   1.54M 
14: EX-101.PRE  XBRL Presentations -- grmn-20131228_pre              XML   1.39M 
11: EX-101.SCH  XBRL Schema -- grmn-20131228                         XSD    224K 
53: ZIP         XBRL Zipped Folder -- 0001144204-14-010483-xbrl      Zip    250K 


‘EX-10.40’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]




EXHIBIT 10.40
 
AMENDMENT TO MEMORANDUM OF AGREEMENT
 
THIS AMENDMENT TO MEMORANDUM OF AGREEMENT (the “Amendment”), entered into this 6th day of December, 2013 by and between Garmin International Inc., a Kansas corporation, having a place of business in the city of Olathe, Kansas (“Garmin”), and Bombardier, Inc. a corporation incorporated under the Canada Business Corporations Act with a place of business in the city of Montreal, Quebec, Canada (“Bombardier”).
 
WHEREAS, Garmin and Bombardier have entered into a Memorandum of Agreement dated March 14, 2013 relating to certain advance payments (the “MOA”); and
 
WHEREAS, Garmin and Bombardier desire to amend the MOA as provided in this Amendment
 
NOW, THEREFORE, in consideration of the covenants and conditions hereinafter set forth, and intending to be legally bound the one to the other, the Parties agree as follows:
 
1. Amendments to MOA 
 
Schedule A to the MOA is hereby amended as follows:
 
The due date for payment of the second repayment in the amount of $25.193 million shall be changed from December 6, 2013 to January 8, 2014.
 
The due date for payment of the fifth and final repayment in the amount of $42.862 million shall be changed from March 7, 2014 to April 7, 2014.
 
 
Page 1 of 3

  
2. Governing Law and Jurisdiction.  This Amendment shall be construed and all disputes hereunder shall be settled in accordance with the laws of the United States of America and the State of Kansas, excluding its conflict of laws provisions.  Except for actions to enforce judgments the exclusive jurisdiction for resolution of disputes and/or litigation related to this MOA and/or the advancing of sums by Garmin and/or the repayment of sums to Garmin shall be in the Kansas State Courts and/or the Federal Courts for the District of Kansas. 
 
3. Status of MOA.  Except as expressly amended herein all the terms of the MOA shall remain in full force and effect and all other repayment dates specified in Schedule A to the MOA shall remain unchanged.
 
[Intentionally Left Blank]
 
 
Page 2 of 3

 
IN WITNESS WHEREOF, the Parties hereto have caused this MOA to be properly executed in duplicate by their duly authorized officers, principals, partners or designees on the date set forth below their names.
 
Bombardier Inc.
 
 
By:    Christian Doupart for Kristopher Pinnow
 
Title: Sr. Director Legal Services
 
 
 
Date: December 6 2013
 
 
 
Garmin International, Inc.
 
 
 
 
By:    Kevin Rauckman
 
Title: Chief Financial Officer
 
 
 
Page 3 of 3

 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
4/7/14
3/7/144
Filed on:2/19/148-K
1/8/14
For Period end:12/28/13ARS
12/6/13
3/14/138-K
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Filing Submission 0001144204-14-010483   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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