Agreement on Changes of the Lease Contract
Exhibit 4.48
Agreement on Changes of the Lease Contract
“Lessor” Meritz Fire and Marine Insurance Co., Ltd. / “Lessee” GRAVITY Co., Ltd.
“Lessor” and “Lessee” hereby agree to the changes of the contract in the regard to the Lease
Contract (hereinafter “Original Contract”) previously agreed on October 19 2005 for the floors of
7th and 11th through 14th of Meritz Tower.
The following are the terms of the changes:
1. Main Contract Conditions of “Original Contract”
Summary: Main Content of the Contract
| Note | Content of the Changes | Remarks | ||
Lease Floors
|
7th and 11th through 14th Floors | |||
Lease Area
|
2,747.59 Pyeong | |||
Lease Security Deposit
|
KRW 1,875,230,000 (KRW 682,500 / Pyeong) | KRW 89,297,000 increased | ||
Monthly Rental Fee
|
- KRW 189,583,000 (KRW 69,000 / Pyeong) | |||
(Excluding VAT)
|
- Payment Due Date: the last day of each month | KRW 13,738,000 increased | ||
Monthly Maintenance Fee
|
- KRW 87,922,000 (32,000 KRW/Pyeong) | |||
(Excluding VAT)
|
- Payment Due Date: the last day of each month | KRW 5,495,000 increased | ||
Term of Lease
|
December 5 2006 ~ December 4 2007 | |||
Free Parking Lots
|
For 37 Vehicles | |||
Conditions of Cancellation
|
Prior 6 Months Notice in Writing | |||
Providing Guarantee of
Security Deposit
|
Creating a collateral security, 120% of the lease security deposit | |||
| * | Unit of a hundred-KRW is cut. |
2. Original Contract
Article 3 (Lease Security Deposit)
(1) Lease security deposit shall be KRW 1,875,230,000 (KRW 682,500 / Pyeong) and the additional amount of the lease security deposit (KRW 89,297,000) shall be paid by February 15 2007. (There shall be no interests regarding the lease security deposit)
(1) Lease security deposit shall be KRW 1,875,230,000 (KRW 682,500 / Pyeong) and the additional amount of the lease security deposit (KRW 89,297,000) shall be paid by February 15 2007. (There shall be no interests regarding the lease security deposit)
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Article 4 (Monthly Rental Fee)
(1) The Monthly Rental Fee shall be KRW 189,583,000 (KRW 69,000 / Pyeong).
(1) The Monthly Rental Fee shall be KRW 189,583,000 (KRW 69,000 / Pyeong).
Article 5 (Monthly Maintenance Fee)
(1) Maintenance fee shall be computed and charged from the beginning date of the term of the lease based on the contract area agreed in Article 1 and its amount shall be KRW 87,922,000 (KRW 32,000 / Pyeong) / month.
(1) Maintenance fee shall be computed and charged from the beginning date of the term of the lease based on the contract area agreed in Article 1 and its amount shall be KRW 87,922,000 (KRW 32,000 / Pyeong) / month.
Others, except for the described above, shall follow “Original Contract.”
January 8th 2007
| Lessor | Lessee | |
825-2 Yeoksam-Dong
|
000-0 Xxxxxxx-Xxxx | |
Xxxxxxx-Xx, Xxxxx
|
Xxxxxxx-Xx, Xxxxx | |
Xxxxxx Fire & Marine Insurance Co., Ltd.
|
GRAVITY Co., Ltd. | |
| /s/ Xxxxxx-Xxx Won | /s/ Il Young Ryu | |
Representative & President: Xxxxxx-Xxx Won
|
Representative: Il Young Ryu |
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