Office Lease Agreement between Jin Su Seo and Clavis Technologies

Summary

This agreement is a lease between Jin Su Seo and Clavis Technologies for an office space of 247.61 square meters. The lease began on January 30, 2005, with an initial term of 24 months and two extensions, totaling up to January 30, 2010. The deposit is 50,000,000 won, with staged payments, and the monthly rent is 4,500,000 won, including management fees. The lessee cannot sublet or assign the office without the landlord's consent. The lessee has the right to negotiate lease extensions and deposit increases before the lease ends.

EX-10.8 12 clavis_s1-ex1008.htm OFFICE LEASE Unassociated Document

EXHIBIT 10.8

Abstract for the lease

Parties of the agreement	Jin Su Seo, Clavis Technologies
The agreement period	1st contract date: 2005.01.17
The amount of loan	1st contract period: 2005.01.30~2007.01.29 (24months) 2nd contract period: 2007.01.30~2009.01.30 (Extending 24 months without increasing deposit) 3rd contract period: 2009.01.31~2010.01.30 (Extending 12 months without increasing deposit)
The deposit	W 50,000,000 (separate VAT, Value-Added Tax)
The payment condition	The initial payment W 5,000,000 The part payment W 20,000,000 The rest W 25,000,000
The rental fee	W 4,500,000/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.