EX-4.48 10 h01298exv4w48.htm EX-4.48 AGREEMENT ON CHANGES OF THE LEASE CONTRACT EX-4.48 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)

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Article 4 (Monthly Rental Fee)
(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.
Others, except for the described above, shall follow “Original Contract.”
January 8th 2007
     
Lessor   Lessee
825-2 Yeoksam-Dong
  825-2 Yeoksam-Dong
Gangnam-Gu, Seoul
  Gangnam-Gu, Seoul
Meritz Fire & Marine Insurance Co., Ltd.
  GRAVITY Co., Ltd.
/s/ Myoung-Soo Won /s/ Il Young Ryu
Representative & President: Myoung-Soo Won
  Representative: Il Young Ryu

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