Renewal Agreement to Distributorship Agreement between Samsung Electronics Co., Ltd. and Atlantic Components Ltd.

Summary

Samsung Electronics Co., Ltd. and Atlantic Components Ltd. have agreed to renew their Distributorship Agreement for one year, effective March 1, 2003, through February 29, 2004, unless terminated earlier. The agreement updates Appendix C, which details commission terms, and specifies payment instructions. All other terms remain as previously agreed in the original 2002 contract. The agreement outlines how commissions are calculated based on sales and the roles of the distributor and third parties.

EX-10.7 9 file008.txt RENEWAL AGREEMENT Renewal of Distributorship Agreement Samsung Electronics Co., Ltd., and Atlantic Components Ltd., hereby agree to renew the Distributorship Agreement, which was duly signed on March 1, 2002 hereunder set forth. 1. This Agreement is effective from 1st day of March 2003 and shall continue to expire on the 29th day of February 2004 unless terminated earlier pursuant to this Agreement. 2. The Appendix "C", as enclosure 1, shall supersede the previous Appendix "C" duly signed on 1st day of March 2002. 3. The payee is as follows: Attention: Ms Yau Account number: 024-235-082161-201(USD) Bank name: Hang Seng Bank Ltd. Bank Address: P18, Telford Gardens, Kowloon Bay, Kowloon, Hong Kong 4. The other terms and conditions under this Agreement shall comply with the Distributorship Agreement which was duly signed on 1st March 2002. SAMSUNG DISTRIBUTOR /s/ Chan Hyoung Park /s/ Alan Yang - ---------------------------- ---------------------------- Mr. Chan Hyoung Park Mr. Alan Yng Senior Manager Managing Director Date Date APPENDIX C ---------- COMPENSATION The amount of commission shall be calculated on the base of total invoice amount value of each month which SAMSUNG issues, but BGD will not be applicable for Commission. a) In case that the buyer on L/C is DISTRIBUTOR, Samsung RECOGNIZES THE products as defined below will be resold and in this case the commission rates are as follows: b) In the case that the buyer on L/C is not DISTRIBUTOR but the customer solicited by DISTRIBUTOR, DISTRIBUTOR will be deserved commission at SAMSUNG's own discretion and the rates are as follows. (In case of Samsung System LSI product, the buyer on L/C should be END-CUSTOMER) c) For Samsung System LSI product only, in case that the buyer on L/C is DISTRIBUTOR and "Third Party" was outsourced for development activity, DISTRIBUTOR will be deserved commission at SAMSUNG's own discretion and the rates are as follows: [Commission table intentionally deleted]* * Confidential treatment requested.