STOCK PURCHASE AGREEMENTStock Purchase Agreement • June 25th, 2008 • GungHo Online Entertainment, Inc. • Services-business services, nec • New York
THIS STOCK PURCHASE AGREEMENT (the “Agreement”) relating to certain American Depository Shares of Gravity Co., Ltd., a Korean company (“Gravity”), is entered into this June 24, 2008, by and between GUNGHO ONLINE ENTERTAINMENT INC., a Japanese company (the “Buyer”), and RAFFLES ASSOCIATES, L.P., a Delaware limited partnership (the “Seller”). The Buyer and the Seller are sometimes referred to herein each individually as a “Party” and collectively as the “Parties”.
