Modified Lease Agreement
Exhibit 10.49
Modified Lease Agreement
The Chairman of Korea Specialty Contractor Financial Cooperative (KSCFC) (from now on, “A”) and the President of GCT Research Co., Ltd. (from now on, “B”) make the below changes to the Modified Lease Agreement executed on December 31, 2010:
BELOW
| 1. | Changes (Unit: |
| Category | Original information | Modification | Remarks | |||||
| Object of the lease | KSCFC Bldg., 10 & 11th floors, 5,229.47m2 | KSCFC Bldg., 10 & 11th floors, 5,229.47m2 | ||||||
| /seal/ | Article 3 Lease Period | 1/1/2011 ~ 12/31/2011 | 1/1/2012 ~ 12/31/2012 | - | ||||
| Article 5 (Lease Security Deposit) | 388,837,200 (74,355/m2) | 388,837,200 (74,355/ m2) | Change - | |||||
| Article 6 (Monthly Lease payment) | 41,250,000 (7,888/ m2) | 43,310,400 (8,282/ m2) | Change 2,060,400 | |||||
| Article 7 (Monthly maintenance fee) | 40,742, 800 (7,791/ m2) | 41,966,400 (8,025/ m2) | Change 1,223,600 | |||||
| Lease / maintenance fee payment date | Last day of the month (the following day if it falls on a holiday) | Last day of the month (the following day if it falls on a holiday) | ||||||
| Free parking spaces | 46 | 46 | ||||||
| Special clause | Shall be based on the [modified] lease criteria (security deposit for the lease, lease payments and maintenance fee) should it be modified in 2013. | |||||||
| /seal/ | 2. Modified agreement effective as of: 1/1/2012 | |||||||
| 3. When “A” or “B” desires to cancel the agreement prematurely, a written notification shall be given to the other party at least 3 months in prior concerning the intent to cancel, and in such a case, there shall be no damages Payment resulting from early termination. However, if the Lessee had prepaid a month’s lease payment (The Sublet tenant and the Lessee of the entire premise shall apply 12% per annum interest rate prorated for a month on the security deposit for the lease) in advance for [possible] damages, then even during such a period, the agreement can be terminated immediately. | ||||||||
In order to reaffirm this agreement, 2 sets of the Modified Lease Agreement were prepared and signed by both “A” and “B” and each party shall keep a set.
December 31, 2011
| Lessor: | Address: | 395-70, Shindaebang-dong, Dongjak-gu, Seoul | ||
| Business Name: | Korea Specialty Contractor Financial Cooperative | |||
| Representative: | Jong Sang Lee (seal) /seal/ | |||
| Lessee: | Address: | 11th. Fl. KSCFC Bldg. 395-70, Shindaebang-dong, Dongjak-gu, Seoul | ||
| Business Name: | GCT Research Co., Ltd. | |||
| Representative: | Kyung Ho Lee, President (seal) /seal/ | |||
Modified Lease Agreement
The Chairman of Korea Specialty Contractor Financial Cooperative (KSCFC) (from now on, “A”) and the President of GCT Research Co., Ltd. (from now on, “B”) make the below changes to the Modified Lease Agreement executed on December 31, 2010:
BELOW
| 1. | Changes (Unit: ( |
| Category | Original information | Modification | Remarks | |||||
| /seal/ | Object of the lease | KSCFC Bldg., 10th floor, 739.13m2 | KSCFC Bldg., 10th floor, 739.13m2 | |||||
| Article 3 Lease Period | 1/1/2011 ~ 12/31/2011 | 1/1/2012 ~ 12/31/2012 | - | |||||
| Article 5 (Lease Security Deposit) | 54,958,000 (74,355/m2) | 54,958,000 (74,355/ m2) | Change - | |||||
| Article 6 (Monthly Lease payment) | 5,830,200 (7,888/ m2) | 6,121,400 (8,282/ m2) | Change 291,200 | |||||
| Article 7 (Monthly maintenance fee) | 5,758,500 (7,791/ m2) | 5,931,500 (8,025/ m2) | Change 173,000 | |||||
| Lease / maintenance fee payment date | Last day of the month (the following day if it falls on a holiday) | Last day of the month (the following day if it falls on a holiday) | ||||||
| Free parking spaces | 6 | 6 | ||||||
| /seal/ | Special clause | Shall be based on the [modified] lease criteria (security deposit for the lease, lease payments and maintenance fee) should it be modified in 2013. | ||||||
| 2. | Modified agreement effective as of: 1/1/2012 |
| 3. | When “A” or “B” desires to cancel the agreement prematurely, a written notification shall be given to the other party at least 3 months in prior concerning the intent to cancel, and in such a case, there shall be no damages Payment resulting from early termination. However, if the Lessee had prepaid a month’s lease payment (The Sublet tenant and the Lessee of the entire premise shall apply 12% per annum interest rate prorated for a month on the security deposit for the lease) in advance for [possible] damages, then even during such a period, the agreement can be terminated immediately. /seal/ |
In order to reaffirm this agreement, 2 sets of the Modified Lease Agreement were prepared and signed by both “A” and “B” and each party shall keep a set.
December 31, 2011
| Lessor: | Address: | 395-70, Shindaebang-dong, Dongjak-gu, Seoul | ||
| Business Name: | Korea Specialty Contractor Financial Cooperative | |||
| Representative: | Jong Sang Lee (seal) /seal/ | |||
| Lessee: | Address: | 11th. Fl. KSCFC Bldg. | ||
| 395-70, Shindaebang-dong, Dongjak-gu, Seoul | ||||
| Business Name: | GCT Research Co., Ltd. | |||
| Representative: | Kyung Ho Lee, President (seal) /seal/ | |||
