Amendment to Loan Agreements between Kyeongho Lee and GCT Research, Inc.
This amendment is between Kyeongho Lee (Lender) and GCT Research, Inc. (Borrower) and modifies three previous loan agreements dated November 11, 2024, December 11, 2024, and December 17, 2024. The main change is an increase in the penalty for late payment from 1.25% per month to 3.0% per month. All other terms of the original agreements remain unchanged. The amendment was signed by both parties on January 24, 2025.
EXHIBIT 10.28
CERTAIN INFORMATION CONTAINED IN THIS EXHIBIT, MARKED BY [***], HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE THE REGISTRANT HAS DETERMINED THAT IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.
Amendment to Loan Agreements
Kyeongho Lee (“Lender”) and GCT Research, Inc. (“Borrower”) are executing the amendment to loan agreements as follows.
“Lender” and “Borrower” entered into a loan agreement with a principal of KRW 4 billion on November 11, 2024, a loan agreement with a principal of KRW 1 billion on December 11, 2024, and a loan agreement with a principal of KRW 2 billion on December 17, 2024. This revised agreement agrees to change the penalty provision stipulated in Article 6 (Events of Late Payment) of the above three loan agreements as follows:
| Before revision | After revision |
Penalty | 1.25% per month | 3.0% per month |
Except for the above amendment agreement, all other matters are identical to the three contracts mentioned above.
The parties to the contract have entered into the above revised agreement and, in order to prove this, have created two copies of the contract, each of whom has signed and stamped one copy and retained one copy.
January 24, 2025
Lender: Kyeongho Lee
[***]
By:
/s/ Kyeongho Lee
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Name: Kyeongho Lee
Borrower: GCT Research, Inc.
Address: 11F., Specialty Construction Center, 15, Boramae-ro 5-gil, Dongjak Gu, Seoul 07071, Korea
By:
/s/ Jeongmin Kim
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Name: Jeongmin Kim
Title: President and Representative Director
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