FIRST AMENDMENT TO
Exhibit 4.57
FIRST AMENDMENT TO
THE EXCLUSIVE XXXX CHRONICLE ONLINE LICENSE AND DISTRIBUTION AGREEMENT
THIS AMENDMENT was entered into on this 23rd day of January, 2008 (“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 offices at 000-0 Xxxxxxx-Xxxx, Xxxxxx Xxxxx 00X, Xxxxxxx-Xx,
Xxxxx, Xxxxx and GameCyber Technology Ltd., a corporation having its principal place of business at
Xxxx 000, 0/X, Xxx Xxxx Xxxxx, Xx. 00 Hung To Road, Xxxxx Xxxx, Kowloon, Hong Kong (“Licensee”).
RECITALS
WHEREAS, Licensor and Licensee (“Parties” collectively) has entered into EXCLUSIVE XXXX CHRONICAL
ONLINE LICENSE AND DISTRIBUTION AGREEMENT (“the Agreement”), on August 1st, 2007.
WHEREAS, the Parties to the Agreement now desire to amend the Agreement as specified below.
NOW, THEREFORE, the Parties agree as follows:
1. Term
Licensee may commence and service the Game in one Territory separately and independently from the
other Territory. In the event that Licensee commences the commercial service in HongKong prior to
Taiwan, the Agreement regarding each Territory shall remain in effect for a period of three (3)
years counted from the commercial service date of each Territory. Licensee shall commence the
Commercial Service in Taiwan not later than ninety (90) calendar days from the Commercial Service
date in HongKong
2. Payment Schedule
Licensee shall follow License Fee Payment schedule (as defined in the Agreement Article 5.1) and
Minimum Guarantee Payment schedule (as defined in the Agreement
Article 5.2) under the Agreement in accordance with the commencing date of Opening Beta Test and
Commercial Service of HongKong.
3. Manner of Payment
In the event that Licensee commences the commercial service in one Territory prior to the other,
Licensee must provide Licensor with a separate royalty report for each territory on a monthly basis
within Fifteen (15) days after the end of the applicable month. Licensor shall issue one invoice
for each territory. Upon Licensee’s receipt of Licensor’s each written invoice for each territory,
Licensee shall pay such total invoice amount to Licensor. Any and all payments under the Agreement
by Licensee to Licensor shall be made in US Dollars (USD) and by wire transfer to any bank account
designated by Licensor.
4. Other Contents
Except as hereinabove expressly agreed and amended, all of the terms and conditions of the
Agreement shall continue in full force and effect.
IN WITNESS THEREOF, the Parties have caused and executed this Amendment on the date first
above-written in duplicate originals by their duly authorized representatives as of the day and
year first above written.
| Gravity Co., Ltd | GameCyber Technology Ltd. | |||||||||
By:
|
By: | |||||||||
| Title: Chairman & CEO | Title: CEO | |||||||||
| Date: | Date: 15 February 2008 | |||||||||
