LEASE AGREEMENT (English Summary)
Exhibit 10.9
LEASE AGREEMENT (English Summary)
| Date: |
April 25, 2003 | |
| Landlord: |
Ho Jeong, located at Suite Xx. 0, Xxxxxx Xxxxxxxx Building Xx. X000-0 Xxxxx-xxxx, Xxxxxxx-xx, Xxxxx, Xxxxx | |
| Tenant: |
Webzen Inc., located at 0xx Xxxxx, Xxxxxx Xxxxxxxx Building No. C 000-0 Xxxxx-xxxx, Xxxxxxx-xx, Xxxxx, Xxxxx | |
| Premise: |
3,627.7 square feet (including common use areas), located at Dealim Acrotown Building No. C (Daelim Acrotel) 000-0 Xxxxx-xxxx, Xxxxxxx-xx, Xxxxx, Xxxxx | |
| Term: |
14 months from the date of full payment of Security Deposit (from April 25, 2003 to June 24, 2004), automatically renewable for one year unless either party terminates in writing at least three months prior to the expiration date. | |
| Security Deposit: |
(Won)458,775,000, payable on April 25, 2003 | |
| Maintenance Fee: |
Payable monthly. Default interest will incur at the rate of 24% per annum on the amount that is not paid when due. | |
| Sublease: |
Tenant may not sublease all or part of the Premise to a third party without prior written consent of Landlord. | |
| Termination: |
Landlord may terminate the lease without notice in the event of, including, but not limited to (i) Tenant’s failure to pay monthly maintenance fees or other expenses more than twice in a timely manner, (ii) pledge of the security deposit by Tenant or (iii) Tenant’s bankruptcy or insolvency. | |
| Surrender: |
Upon expiration or termination of the lease, Tenant shall remove all the fixtures attached by Tenant and restore the Premise to its original condition at his expenses. | |
| Jurisdiction: |
Korean court having jurisdiction over the location of the Premise. | |
