Lease Agreement Abstract between Jin Su Seo and Clavis Technologies (2011-2013)

Summary

This lease agreement is between Jin Su Seo and Clavis Technologies for office space measuring 247.61 square meters. The lease runs from February 1, 2011, to January 31, 2013, with an option to extend for 12 months without increasing the deposit. The deposit is 30,000,000 KRW (plus VAT), and the monthly rent is 4,600,000 KRW, which includes management fees. The tenant is responsible for electricity charges and cannot sublease or assign the space. The tenant has the right to negotiate an extension and deposit terms before the lease ends.

EX-10.16 2 clavis_10k-ex1016.htm ABSTRACT FOR THE LEASE clavis_10k-ex1016.htm

EXHIBIT 10.16

Abstract for the lease

Parties of the agreements	Jin Su Seo, Clavis Technologies
The agreement period	2011.02.01~2013.01.31 (Extending 12 months without increasing deposit)
The deposit	\ 30,000,000 (separate VAT, Value-Added Tax)
The rental fee	\ 4,600,000/month (including management expenses)
Other payment	Electric charges
The size of rented space	247.61m2
Contents of the contract	- A lessee cannot rent out to other people some or all of the office instead of a landlord - A lessee cannot assign to other people some or all of the office instead of a landlord - Before the lease ends, a lessee has a right to negotiate with a landlord about extending the rental period and increasing rate of deposit.