THIRD AMENDMENT TO THE EXCLUSIVE RAGNAROK ONLINE LICENSE AND DISTRIBUTION AGREEMENT

Exhibit 4.50

THIRD AMENDMENT TO

THE EXCLUSIVE RAGNAROK ONLINE LICENSE

AND DISTRIBUTION AGREEMENT

THIS THIRD AMENDMENT (“this Amendment”) iss made and entered into on this 5^th day of March, 2013 (“Effective Date”), by and between Gravity Co., Ltd., (“Licensor”), a corporation duly organized and existing under the laws of the Republic of Korea and having its principal office at 00X, Xxxxxxxx Xxxxxx BIZ Tower, 1605, Sangam-Dong, Mapo-Gu Seoul and AsiaSoft Corporation Public Co., Ltd., (“Licensee”) a corporation duly organized and existing under the laws of the Thailand and having its principal office at 9 U.M. Tower, 28^th Floor, Room 9/283-5, Xxxxxxxxxxxx Xxxx, Xxxxxxxxx, Xxxxxxx 00000, Xxxxxxxx.

RECITALS

WHEREAS, Licensor and Licensee (“Parties” collectively) signed EXCLUSIVE RAGNAROK ONLINE LICENSE AND DISTRIBUTION AGREEMENT (“the Agreement”), on 5^th day of March 2010; and

WHEREAS, Parties entered into FIRST AMENDMENT TO RAGNAROK LICENSE AND DISTRIBUTION AGREEMENT (“the First Amendment”),on 5^th day of March 2010.

WHEREAS, Parties entered into SECOND AMENDMENT TO THE EXCLUSIVE RAGNAROK ONLINE LICENSE AND DISTRIBUTION AGREEMENT (“the Second Amendment”), on 5^th day of March 2012.

WHEREAS, this Amendment is supplemental to the Agreement, and the Parties enter into this Amendment, to amend certain provisions in the Agreement.

NOW, THEREFORE, in consideration of the mutual promise and covenants contained herein, the Parties agree as follows:

1. Renewal Term

The Parties agree to extend the term of the Agreement for two (2) years (“Renewed Term”) from March 5^th, 2013 with conditions stated below in this Amendment. The Newly extended term of the Agreement shall be from March 5^th, 2013 to March 4^th, 2015.

2. Renewal Condition

(1) License Fee.

Licensee shall pay to Licensor a non-recoupable and non-refundable Renewal License Fee in the amount of Fifty Thousand USD (US$50,000) within Thirty (30) Calendar days of the Effective Date.

3. Continuing Effectiveness of the Agreement

Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms, conditions obligations, covenants or agreements contained in the Agreement amended by its amendments, all of which are ratified and affirmed in all respects and shall continue in full force and effect.

IN WITNESS WHEREOF, Parties have executed this Amendment on the date first above written.

Gravity Co., Ltd.						AsiaSoft Corporation Public Co., Ltd.
By:						By:
Name:		Hyun Xxxx Xxxx				Name:
Title:		CEO				Title: