Document:

exv10w6

 

[Translation]

[FRONT PAGE OF THE KUN-MORTGAGE AGREEMENT]

Woori Bank must explain the material contents hereof to the Mortgagor and
deliver the General Terms and Conditions for Bank Credit Transactions and a
copy of this Kun-mortgage Agreement to the Mortgagor.

Kun-mortgage Agreement

(for Bank)

Date: March 30, 2007

* As the provision of any property as security is a material legal action that may cause property
loss, please make a prudent decision after carefully reading in advance the contents of this
Kun-mortgage agreement (“Agreement”) and “Matters That a Security Provider Must Know” set out on
the reverse page, and please fill in the blanks below in the Mortgagor’s own handwriting.

	 	 	 	 	 	 	 
	Creditor and Kun-mortgagee:     Woori Bank
	 	 	/s/ Han Sik Kim	 	((signature))
	 	 	 	 	 
	 	 	Title:	 	Relationship Manager
	 	 	 	 	Woori Bank Chongro Corporate Banking Center
	 	 	 	 	(seal of registered general manager affixed)

Address: 203, Heohyeon-dong 1 ga, Joong-gu, Seoul

	 	 	 	 	 	 	 
	Obligor:	 	Amkor Technology Korea, Inc.	 	((seal))
	 

	 	Representative Director
	 	/s/ Kyu-Hyun Kim	 	 
	 

	 	 	 	 	 	 
	Address: 280-8, Sungsoo-dong 2-ga, Sungdong-gu, Seoul	 	 

Seal Authenticity

Verification

 

(seal affixed)

	 	 	 	 	 	 	 
	Kun-mortgagor:	 	Amkor Technology Korea, Inc.	 	((seal))
	 

	 	Representative Director
	 	/s/ Kyu-Hyun Kim	 	 
	 

	 	 	 	 	 	 
	Address: 280-8, Sungsoo-dong 2-ga, Sungdong-gu, Seoul	 	 

Seal Authenticity

Verification

 

(seal affixed)

The parties set forth above hereby enter into a kun-mortgage agreement (this “Agreement”) as
follows:

Article 1. Granting of Kun-mortgage

The mortgagor (the “Mortgagor”) approves the “General Terms and Conditions for Bank Credit
Transactions” (the “General Terms and Conditions”) and grants a kun-

 

 

mortgage with respect to the property set forth in the “List of property subject to kun-mortgage”
on the reverse page (the “Mortgaged Property”) subject to the following terms:

	1.1	 	Scope of Secured Obligations

The Creditor has explained to the Mortgagor that the Mortgagor may elect to grant one of the
following three (3) types of mortgages, and the Mortgagor hereby elects to have:

 Specified kun-mortgage 

      

granted to secure its obligations (including interest, default interest, and other incidental
obligations).

	     (i)	 	Specified kun-mortgage: all obligations owed by the Obligor to the Creditor
(including its head office and branch offices), which are existing now or will exist
hereafter arising from or in connection with the following agreements:
	 
	 	 	- Foreign currency credit facility agreement dated as of                     ; and
	 
	 	 	-                      agreement dated as of                     ;
	 
	     (ii)	 	Limited kun-mortgage: all obligations owed by the Obligor to the Creditor (including
its head office and branch offices), which are existing now or will exist hereafter
arising from or in connection with the following transactions:
	 
	 	 	-                      transaction; and
	 
	 	 	-                      transaction;
	 
	     (iii)	 	All-inclusive kun-mortgage: all of the following obligations owed by the Obligor to
the Creditor (including its head office and branch offices), which are existing now or
will exist hereafter:

	 
	               (a)	 	all obligations arising from or in connection with borrowings based on promissory
notes, certificates or overdraft accounts, promissory note discounts, payment
guarantee, factoring, transactions relating to installment deposits for mutual aid
(sanghobukeum), transfer of corporate bonds, lending of securities, foreign exchange
transactions, and other credit transactions;

	 
	               (b)	 	all obligations arising from or in connection with credit card transactions
(except where a third party other than the Obligor provides property as security);
	 
	               (c)	 	all obligations under a guarantee relating to any transaction set forth in
paragraph (a) and entered into between the Creditor and a third party; and

 

 

	(d)	 	all obligations under promissory notes or cheques acquired by the Creditor in
connection with any transaction set forth in paragraph (a) and entered into between
the Creditor and a third party.

	1.2	 	Maximum Claim Amount

	 	(i)	 	
USD Three Hundred Ninety (390) Million

	 
	 	(ii)	 	Notwithstanding the fact that the maximum claim amount is determined based on the
initial claim amount for purposes of saving registration fees, etc., this Agreement shall
in no event be construed as a kun-mortgage agreement securing certain specified
obligations for such reason.

	1.3	 	Settlement Date of Security Interest under Kun-mortgage

The Creditor has explained to the Mortgagor that the Mortgagor may elect to grant one of the
following three (3) types of settlement date, and the Mortgagor hereby elects elects the date
determined in accordance with:

 Future Designation 

      

as the settlement date.

	 	(i)	 	Future Designation: The settlement date is not currently set. Three (3)
years after the date hereof, however, the Mortgagor can designate the kun-mortgage
settlement date by giving written notice; provided that such designated settlement
date must be at least fourteen (14) days after the date on which the notice is
received, and if fewer days are left after the notice is received, then the settlement
date shall be the date falling on the 14th day after the date on which the notice is
received.
	 
	 	(ii)	 	Automatic Determination: The settlement date is not currently set. Three (3)
years after the date hereof, however, the Mortgagor can designate the kun-mortgage
settlement date by giving written notice; provided that such designated settlement
date must be at least fourteen (14) days after the date on which the notice is
received, and if fewer days are left after the notice is received, then the settlement
date shall be the date falling on the 14th day after the date on which the notice is
received; provided further that if the Guarantor does not express any intention until
five (5) years have passed from the date hereof, then the settlement date shall be the
date falling on the fifth (5th) year after the date hereof.
	 
	 	(iii)	 	Designation:
Year                     Month ___ Day                     

Article 2. Taking All Procedures and Responsibility for Costs

 

 

2.1 The Mortgagor shall, at the request of the Creditor, promptly take all procedures necessary for
registration, recordation of granting, modification, correction, transfer, assignment, and
deregistration, etc. of the kun-mortgage.

2.2 The Creditor has explained to the Obligor and the Mortgagor the types of costs incurred in
connection with the procedures described in Section 2.1 above and the basis of calculation of such
costs, and shall mark “Ö” below in the relevant boxes (o) to designate which party is responsible
for such costs, and the parties agree to be responsible for the relevant costs:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	                                    Category	 	Responsible Party
	 	 	Obligor	 	Mortgagor	 	Creditor
	Registration Tax
	 	 	þ	 	 	 	o	 	 	 	o	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Education Tax
	 	 	þ	 	 	 	o	 	 	 	o	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Purchase of People’s Residence Bonds
	 	 	þ	 	 	 	o	 	 	 	o	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Judicial Scrivener’s Fees
	 	 	þ	 	 	 	o	 	 	 	o	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Deregistration (Termination of
Kun-mortgage)
	 	 	þ	 	 	 	o	 	 	 	o	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Assessment/evaluation Fees
	 	 	þ	 	 	 	o	 	 	 	o	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	o	 	 	 	o	 	 	 	o	 

2.3 Even where it is agreed that the Creditor shall be responsible for certain costs under Section
2.2 above, if it is otherwise separately agreed in connection with the Obligor’s or Mortgagor’s
prepayment prior to the maturity date, the Obligor and the Mortgagor shall be jointly and severally
responsible for such costs pursuant to the separate agreement.

2.4 If, on behalf of the Obligor or the Mortgagor, the Creditor has paid any costs agreed to be
paid by the Obligor or Mortgagor under Section 2.2 or any costs for investigation, occupancy,
maintenance, disposal, etc. of the Mortgaged Property, the Obligor and the Mortgagor shall
immediately repay them to the Creditor pursuant to Article 4 of the General Terms and Conditions
for Bank Credit Transactions.

Article 3. Revocation of Provision of Security and Waiver of Right to Revocation

If the Mortgagor provides a house as collateral to a third party, the Mortgagor may revoke such
provision of house as collateral within three (3) days from the date hereof. In addition, the
Mortgagor may, by waiving in advance the right to revoke its provision of house as collateral,
immediately have this Agreement fixed immediately. If necessary, the Mortgagor shall set out its
intent below in handwriting within the above period (For example, I hereby revoke on                     
___,                     , I hereby waive on

 

 

                     ___,                     ).

	 	 	 
	Do you revoke the provision of house as collateral?
(If you revoke, this Agreement shall be cancelled
and the Mortgagor shall not bear any responsibility
as a mortgagor. In such case, all costs for
granting and terminating the mortgage shall be
borne by the Mortgagor)

	 	                     ___,                     

(month/day/year)
	 
	 	 
	Do you waive your right to revoke the provision of
house as collateral?
(If you waive, this Agreement shall become fixed
immediately.)

	 	                     ___,                     

(month/day/year)

Article 4. Special Agreement

	 	 	 	 	 
	Consultant

	 	Title: Manager
	 	Name:
	 

	 	 	 	/s/ Hongbin Lim ((signature))

* The Mortgagor shall read the following and set out the Mortgagor’s intent below in handwriting
based on fact (Examples: 1. Received; and 2.Heard).

	 	 	 
	Have you certainly received the General Terms and Conditions for
Bank Credit Transactions and a copy of this Agreement?

	 	Received
	 
	 	 
	Have you been explained of the material contents of the above
terms and conditions and in the front and reverse pages of this
Agreement?

	 	Heard

 

 

[REVERSE PAGE OF THE KUN-MORTGAGE AGREEMENT]

Article 5. Discrepancy between a Cadastral Book and Facts

5.1 Even if there is any discrepancy between the facts and descriptions in a cadastral book or a
list attached to this Agreement with respect to the Mortgaged Property, the kun-mortgage granted
hereunder over the actual Mortgaged Property shall be in full force and effect, and the Mortgagor
shall, at the request of the Creditor as necessary for the preservation of its claims, promptly
take all necessary procedures, including without limitation, modification of the registrations or
correction of such descriptions.

5.2 If there is any building unregistered on the land subject to the kun-mortgage hereunder, or if
a building is newly built on such land after the date hereof, at the request of the Creditor as
necessary for the preservation of its claims, the Mortgagor shall without delay make a preservation
registration with respect to such building and simultaneously grant all additional kun-mortgage
over such building pursuant to Article 1.

Article 6. Maintenance of Value of Security, Etc.

6.1 The Mortgagor shall obtain the prior consent of the Creditor if the Mortgagor intends to take
any action to change the current state of the Mortgaged Property which action may cause to impede
the preservation of the Creditor’s claims with respect to the Mortgaged Property (such as
destruction/loss, damages to the Mortgaged Property, etc.).

6.2 The Mortgagor shall promptly notify the Creditor in case of any destruction/loss, damages or
expropriation of or to the Mortgaged Property, other accidents to the Mortgaged Property and
considerable price decrease, or if there is any concern about such destruction, etc.

6.3 In the case of Section 6.2, if there arise any claims, such as compensation, remedy, etc. due
to the Mortgagor from a third party, the Mortgagor shall assign such claims to the Creditor and
take all necessary procedures, and the Creditor may apply such amount received to the repayment of
debts under Article 13 of the General Terms and Conditions for Bank Credit Transactions, unless
there is any special reason (such as provision of another mortgaged property, etc.).

Article 7. Insurance Contracts

7.1 To extent necessary for the preservation of the claims of the Creditors with respect to the
Mortgaged Property, the Mortgagor shall enter into insurance contracts in such amount and type as
designated by the Creditor, grant a pledge over the rights under the insurance contracts and
deliver the pledged insurance policies to the Creditor, and maintain them until there no longer
exist secured obligations subject to the kun-mortgage hereunder.

 

 

7.2 If the Mortgagor enters into a separate insurance contract other than those set forth in
Section 7.1 above with respect to the Mortgaged Property, the Mortgagor shall promptly notify the
Creditor and, at the request of the Creditor as necessary for the preservation of its claims, grant
a pledge over the rights under such contract in favor of the Creditor.

7.3 If the Mortgagor fails to comply with Section 7.1 or 7.2 and the Creditor enters into or
continues an insurance contract on behalf of the Mortgagor and pays insurance premiums thereunder,
the Obligor and the Mortgagor shall jointly and severally repay such premiums paid by the Creditor
and any and all costs incurred, promptly to the Creditor pursuant to Article 4 of the General Terms
and Conditions for Bank Credit Transactions.

7.4 If the Creditor receives an insurance amount based on insurance contracts provided in Sections
7.1 through 7.3, the Creditor may apply such amount to the repayment of debts hereunder pursuant to
Article 13 of the General Terms and Conditions for Bank Credit Transactions, even prior to the
maturity date, unless there is any justifiable reason (such as, provision of another mortgaged
property, etc.).

Article 8. Superficies, Chonsei-kwon & Leasehold

8.1 If the Mortgaged Property is a building, where any superficies or chonsei-kwon is granted over
the land on which the building is located, the Mortgagor shall, immediately upon their expiry, take
all procedures necessary to have such superficies or chonsei-kwon agreements (as the case may be)
continue to be in full force and effect.

8.2 If Section 8.1 is applicable, even if the relevant right to the land is leasehold, the
Mortgagor shall, immediately upon its expiry, take all procedures necessary to have the lease
agreement continue to be in full force and effect and, if the owner of the land is changed or the
substance of the leasehold will be changed, the Mortgagor shall notify the Creditor immediately or
in advance, respectively.

8.3 The Mortgagor shall not take any action that may cause termination, nullification or change of
such superficies, chonsei-kwon or leasehold as provided in Section 8.1 or 8.2 (as the case may be),
and if there is a concern that any of them may be terminated, nullified or changed, the Mortgagor
shall take all procedures necessary for its preservation, and even if the building is destroyed or
substantially damaged, the Mortgagor shall not at its discretion dispose of any such superficies,
chonsei-kwon or leasehold without the consent of the Creditor.

8.4 In case the building is destroyed or substantially damaged, if there still remain debts owed to
the Creditor after appropriation of an insurance amount, etc., to the repayment and the Creditor
and the Mortgagor does not immediately build a new building, the Mortgagor shall be entitled to
dispose of any such superficies, chonsei-kwon or leasehold, but only with the consent of the
Creditor, in which case the Creditor

 

 

may apply any proceeds from such disposal to the repayment of any outstanding debts pursuant to
Section 6.3.

Article 9. Disposal, Management, Etc. of the Mortgaged Property

9.1 In principle, disposal of the Mortgaged Property shall be made only through court proceedings;
provided that if the Mortgagor consents, the Bank may dispose of the Mortgaged Property in such
manner, time, price, etc., as the Bank deems appropriate, and apply an amount remaining after
deduction of costs incurred from the proceeds from such disposal, to the repayment of any
outstanding debts pursuant to Article 13 of the General Terms and Conditions for Bank Credit
Transactions.

9.2 Other than as set out in Section 9.1, the Creditor may, for the benefit of the Mortgagor,
manage the Mortgaged Property and apply any proceeds therefrom to the repayment of any outstanding
debts pursuant to Section 9.1.

9.3 If there is a concern that the Mortgaged Property may be improperly managed and destroyed,
damaged or lost as the Mortgagor disappears or for any other reasons, the Creditor may take
possession of the Mortgaged Property and manage it.

9.4 If Section 9.1, 9.2 or 9.3 is applicable, the Mortgagor shall without delay extend all
cooperation necessary for the disposal or management of the Mortgaged Property by the Creditor.

Article 10. Response and Investigation

The Mortgagor shall, at the request of the Creditor, immediately respond to the questions of the
Creditor concerning the status of the Mortgaged Property or extend all cooperation necessary for
investigation.

Article 11. Relationship with Other Security or Guarantee Agreements

11.1 If the Mortgagor separately provides as security any property or guarantee in favor of the
Creditor with respect to the debts owed by the Obligor to the Creditor, unless otherwise agreed, no
change shall be made to such security or guarantee by this Agreement and shall be applicable
cumulatively, separate from any guarantee responsibility hereunder.

11.2 If, simultaneously with providing any property as security, (to cover any possible decrease in
the value of any provided security) the Mortgagor at the request of the Creditor also guarantees
the Obligor’s performance of its obligations jointly and severally with the Obligor with respect to
the same secured obligations, if and to the extent any such obligations under the security or
guarantee are performed in part or in whole, any such obligations under the other (i.e., the
guarantee or security (as the case may be)) shall be released, notwithstanding Section 11.1.

 

 

Article 12. Change • Termination • Cancellation of Security, etc.

If necessary for the transaction, the Creditor may terminate or cancel another security or
guarantee, in case where the Mortgagor consents or there is no adverse impact on the enforcement of
claims for compensation caused by the Mortgagor’s substitution of an existing security with a new
security of the same value or more, replacement of an existing guarantor with a new guarantor of
the same financial capability or more, or subrogation of the Creditor’s right to the security or
guarantee (including without limitation, termination or cancellation of the security or guarantee
concerned on a pro rata basis in case and to the extent of any partial repayment to the Creditor).

List of property subject to kun-mortgage

	 	 	 
	Property	 	Priority
	 
	 	 
	<See Attachment>
	 	 
	 
	 	 
	The completion of the registration pursuant
to this Agreement is hereby confirmed, and
the original certificate of registration has
been received.

March 30, 2007

Mortgagor /s/ Kyu-Hyun Kim ((seal))

 

 

<Attachment>

List of property subject to kun-mortgage1

Factory at Seoul

(i) Land located at 280, 280-1, 280-2, 280-6, 280-8, 280-9, 281-18 through 281-21, 281-23 and
281-24, Sungsu-dong 2-Ga, Sungdong-gu, Seoul, Korea

(ii) All buildings on the land (i) above

(iii) 2,064 items of machinery & equipment at the land and buildings (i) and (ii) above

Factory at Incheon

(i) Land located at 516-1 through 516-3, 517-2, 517-3 and 518-1 through 518-6, Hyosung-dong,
Keyang-gu, Incheon, Korea

(ii) All buildings on the land (i) above

(iii) 1,623 items of machinery & equipment at the land and buildings (i) and (ii) above

(iv) Land located at 412 and 419-1, Chungcheon-dong, Bupyung-gu, Incheon, Korea

(v) All buildings on the land (iv) above

Factory at Gwangju

(i) Land located at 957, Daechon-dong, Buk-gu, Gwangju, Korea

(ii) All buildings on the land (i) above

(iii) 3,526 items of machinery and equipment at the land and buildings (i) and (ii) above

 

			
	1	 	This is a summary, not a full translation, of
the list of mortgaged properties submitted to the court, which list contains
the descriptions of each building and every item of machinery/equipment.<PAGE>

EXHIBIT 10.2

                        DATED THIS 23rd DAY OF APRIL 2007

                                     BETWEEN

                           M2B WORLD HOLDINGS LIMITED

                                       AND

                                  P T AGIS TBK

                  ********************************************

                           SALE AND PURCHASE AGREEMENT

                  ********************************************

<PAGE>

THIS AGREEMENT is made on the 23rd day of April 2007

BETWEEN

1.    M2B WORLD HOLDINGS LIMITED, a company incorporated in the British Virgin
      Island, and having its registered address at Sea Meadow House, Blackburne
      Highway, P.O. Box 116, Road Town Tortola, British Virgin Islands (the
      "Vendor");

AND

2.    P T AGIS TBK a company incorporated in Indonesia, and having its place of
      business at Menara Kebon Sirih, 6th floor, JI, Kebon Sirih, Jakarta Pusat
      #17-19, 10340 Indonesia ("AGIS");

(the Vendor and AGIS, collectively, the "Parties")

WHEREAS

1.    The Vendor is principally engaged in the business of investment holding
      and owning content rights used in the provision of broadband media
      entertainment and video on-demand (VOD) services. The Vendor is wholly
      owned by M2B World Asia Pacific Pte Ltd, which is in the business of the
      provision of broadband media entertainment and Video-on-demand (VOD)
      services.

2.    AGIS is a company listed on the Indonesia Stock Exchange. AGIS will
      incorporate an investment holding entity in the British Virgin Island as a
      wholly-owned subsidiary ("SPV") soon as practicable after the date of this
      Agreement. SPV will in turn incorporate a new company in Indonesia ("PT
      Co") which will operate and manage the Assets (as defined below) (AGIS,
      SPV and PT Co collectively, the "Group").

3.    The Vendor agrees to sell to AGIS and AGIS agrees to buy from the Vendor
      certain assets upon the terms and conditions set forth in this Agreement.

WHEREBY IT IS AGREED as follows:

1.    DEFINITIONS

1.1   In this Agreement, unless otherwise defined herein or the context
      otherwise requires, the following words and expressions shall bear the
      following meanings:

      "Accounts"         means the audited balance sheets of the Group at 31
                         December 2006, and the audited profit and loss accounts
                         of the Group for the financial year ended 31 December
                         2006, including all notes and reports on such balance
                         sheets and profit and loss accounts and documents
                         required by law;

      "Assets"           means collectively, the Domain Name and the IPTV
                         platform;

      "Completion"       completion of the sale and purchase of the Assets
                         hereunder on Completion Date;

                                       2

<PAGE>

      "Completion Date"  30 June 2007 or such other date as the Parties hereto
                         may agree in writing;

      "Domain Name"      means the web address to be mutually agreed upon and
                         under which the IPTV business will be operated within
                         Indonesia;

      "IPTV"             (Internet Protocol Television) refers to internet
                         protocol platform developed by the Vendor under the
                         Domain Name through which broadband media entertainment
                         and video-on-demand (VOD) services are delivered and
                         provided within Indonesia, further details of which are
                         set out and described in SCHEDULE 1 of this Agreement;

      "IDR"              means the lawful currency of Indonesia;

      "Last Accounting
      Date"              means 31 December 2006;

      "Records"          means all the books, files, records and other documents
                         of the Vendor relating wholly or mainly to the Assets
                         and in whatever medium so held.

      "S$"               means the lawful currency of Singapore;

      "Taxes"            means all forms of taxes and includes (without
                         limitation) goods and services tax or value-added tax,
                         overseas taxation, corporation tax, income tax, Central
                         Provident Fund or equivalent contributions, capital
                         gains tax, share transfer tax, customs and other import
                         duties, local governmental and municipal impositions,
                         duties, levies and any payment whatsoever which may be
                         payable as a result of the operation of any statutory
                         provision relating to taxation and all penalties,
                         charges and Interest relating to any claim for taxation
                         or resulting from a failure to comply with the
                         provisions of any statute relating to taxation;

      "US$"              means the lawful currency of the United States of
                         America.

1.2   References to Recitals, Clauses, Exhibits and Schedules are references to
      recitals and clauses of and exhibits and schedules to this Agreement.

1.3   The headings in this Agreement are inserted for convenience only and shall
      be ignored in construing this Agreement.

2.    SALE AND PURCHASE OF ASSETS AND LICENSING OF RIGHTS

2.1   The Vendor agrees to sell, transfer and assign to AGIS (under the name of
      SPV), and AGIS agrees to acquire all rights, title, estate and interests
      to and the full and exclusive benefit of the Domain Name with effect from
      the Completion Date, at the Consideration.

2.2   As part of the transfer and assignment of the Domain Name, the Vendor also
      agrees to grant AGIS (under the name of SPV) an exclusive right and
      licence in respect of the use of the intellectual property rights within
      Indonesia only associated with the IPTV platform and

                                       3

<PAGE>

      the video titles contained therein, on the terms and subject to the
      conditions of the licence agreement referred to in Clause 4.1(b) below.
      For the avoidance of doubt, nothing in this provision or this Agreement
      shall restrict or prevent the Vendor from granting any right and licence
      over or otherwise use the intellectual property rights associated with the
      IPTV platform and the video titles contained therein outside Indonesia.

3.    CONSIDERATION

3.1   The Parties hereto agree that the consideration for the transfer and
      licence of the Assets shell be US$15.0 million based on a mutually-agreed
      valuation of the Assets (the "Consideration").

3.2   The Consideration shall be fully satisfied on Completion by (a) the issue
      and allotment to the Vendor (or its nominee(s)) of 75 million new shares
      in the share capital of AGIS at Completion Date at an agreed issue price
      of IDR1300 per share and (b) the issue and allotment of such number of new
      shares in the share capital of SPV constituting 50% of the enlarged share
      capital of SPV (collectively, the "Consideration Shares"), such
      Consideration Shares to be credited as fully paid and free from all
      encumbrances and ranking pari passu in all respects with the ordinary
      shares in the capital of AGIS and SPV existing as at the Completion Date
      respectively.

4.    CONDITION PRECEDENTS AND COMPLETION

4.1   The Parties agree that the transactions contemplated under this Agreement
      shall be completed upon satisfaction, where applicable, of all the
      following conditions (the "Conditions Precedent"):-

      (a)   satisfactory completion of the legal, financial and operational due
            diligence conducted by the Vendor and its advisors on the Group;

      (b)   the Parties hereto having executed on or before Completion Date all
            the agreements and other written documents as may be necessary for
            the transaction contemplated hereunder including without limitation
            a shareholders' agreement between the Vendor and AGIS in respect of
            their respective shareholding interests in SPV and a licence
            agreement between the Vendor and SPV in respect of the intellectual
            property rights comprised in the IPTV platform and the video titles
            contained therein;

      (c)   the acquisition and licence of the Assets by SPV and all the
            transactions contemplated under this Agreement having been approved
            by the shareholders of AGIS and the board of directors of AGIS and
            SPV and written evidence in respect thereof being provided to the
            Vendor;

      (d)   all other necessary consents and approvals, if any, being granted
            and not withdrawn or revoked by third parties (including without
            limitation, government bodies, stock exchange and other relevant
            authorities having jurisdiction over the transactions contemplated
            under this Agreement) and if such consents are obtained subject to
            any condition(s) and where such condition(s) affect any of the
            Parties, such condition(s) being acceptable to the Party concerned
            and, if such condition(s) are required to be fulfilled before
            Completion, such condition(s) being fulfilled before Completion:

                                       4

<PAGE>

      (e)   each of the warranties and undertakings in this Agreement remaining
            true and not misleading in any material respect at Completion, as if
            repeated at Completion and at all times between the date of this
            Agreement and Completion;

      (f)   the Parties shall on Completion Date execute such further documents,
            agreements, deeds. and do such further acts and things, as may be
            required so that full affect shall be given to the provisions of
            this Agreement and the transactions contemplated under this
            Agreement;

      (g)   SPV being duly and validly incorporated as a wholly-owned subsidiary
            of AGIS and PT Co being duly and validly incorporated as a
            wholly-owned subsidiary of SPV.

4.2   If the conditions set out in Clause 4.1 shall not have been fulfilled
      within two (2) months (or such shorter timeframe as the Parties hereto may
      mutually agree) from the date of this Agreement (or waived by the relevant
      parties or extended by mutual agreement between the parties), then the
      provisions of this Agreement shall (other than this Clause, Clause 5
      (Warranties), Clause 6 (Liabilities for Breach), Clause 8 (Costs), Clause
      9 (Governing Law) and Clause 10.7 (Confidentiality)) from such date ipso
      facto cease and determine and none of the Parties shall have any claim
      against the other for costs, damages, compensation or otherwise save in
      respect of any antecedent breach of this Agreement.

4.3   Completion of the transaction hereunder shall take place on Completion
      Date at Menara Kebon 6th floor, JI. Kebon Sirih, Jakarta Pusat #17-19,
      10340 Indonesia.

4.4   On Completion Date, the Group shall:

      4.4.1 deliver to the Vendor duly certified copies of the relevant board
            and shareholder resolutions of the Group approving the execution of
            all relevant documents in connection with the Acquisition and the
            transactions contemplated herein including the allotment and issue
            of the Consideration Shares to the Vendor; and

      4.4.2 allot and issue the Consideration Shares to the Vendor, such
            Consideration Shares shall be credited as fully paid-up, free from
            all encumbrances and ranking pari passe in all respects with the
            ordinary shares in the capital of AGIS and SPV existing as at
            Completion.

4.5   Against compliance by the Group with the provisions of Clause 4.4 above,
      the Vendor shall:-

      4.5.1 deliver to AGIS the relevant documents of title and any requisite
            consent or license as may be required to vest in SPV the full
            benefit of the Domain Name; and

      4.5.2 deliver to the Group all its Records and other information relating
            to the Assets as the Group !nay reasonably require for the
            management and operation of the Assets.

4.6   The Parties shall do all acts and things end execute all documents as
      shall be necessary or expedient to give effect to Completion and transfer
      and licence of the Assets and the allotment and issue of the Consideration
      Shares upon the terms and conditions of this Agreement.

5. REPRESENTATIONS AND WARRANTIES

                                       5

<PAGE>

5.1   AGIS represents and warrants as follows that:-

      (a)   it is a company duly established and validly existing under the laws
            of Indonesia;

      (b)   it has full power end authority to enter into this Agreement and to
            perform its obligations hereunder;

      (c)   the provisions of this Agreement constitutes its legal, valid and
            binding obligations on it enforceable in accordance with the terms
            hereof.

5.2   Each of the entities within the Group further represent, warrants and
      undertakes to the Vendor as an inducement to the Vendor to enter into this
      Agreement and it is a condition of this Agreement that save as disclosed
      herein or in the Accounts, each of the warranties contained in SCHEDULE 2
      is, at the date hereof (where applicable (and will at Completion he
      completely true and accurate and not misleading in any materiel respect.

6.    LIABILITIES FOR BREACH

6.1   If either party hereto fails to fully perform or suspends the performance
      of its obligations hereunder and fails to rectify the aforesaid acts
      within 10 days of receipt of notice from the other party. the party shall
      be in breach of contract (the Defaulting Party").

6.2   If as a result of the breach of contract by the Defaulting Party and the
      non-defaulting party suffers any losses (including without limitation any
      loss of profits), the Defaulting Party shall compensate the non-defaulting
      party in respect of such losses. Such compensation shall be equivalent to
      the actual loss incurred by the non-defaulting party as a result of the
      breach of contract. In the event that a breach of contract is committed by
      more than one party, each party shall bear its proportional share of the
      liabilities arising from the breach of contract.

7.    TERMINATION

7.1   This Agreement may be terminated by either party, upon thirty (30) days'
      prior written notice to the other, if as a result of a Condition Precedent
      (as set out in Clause 4.1) not having been satisfied (or waived) the
      Completion has not occurred within four (4) months after the signing of
      this Agreement (or such further period as may be mutually agreed upon),
      provided however, that no party may give such notice of termination if
      such non-occurrence of Completion results directly or indirectly from such
      party's wilful breach of any provision of this Agreement.

7.2   In the even; that a termination of this Agreement occurs pursuant to
      Clause 7.1 above, the provisions of this Agreement shall terminate and
      have no effect and all obligations of the Parties.

8.    COSTS

8.1   All stamp and other duty and charges payable or arising in relation to the
      execution of this Agreement and the other documents described or
      contemplated herein, if any, shall be borne by the Group.

                                       6

<PAGE>

8.2   All expenses incurred by or on behalf of the Parties, including all fees
      of agents, solicitors and accountants, employed by either of them in
      connection with the negotiation, preparation and execution of this
      Agreement shall be borne solely by the party which incurred them.

9.    GOVERNING LAW AND DISPUTE SETTLEMENT

9.1   This Agreement shall be construed and governed by the laws of Singapore.

9.2   Each of the Parties hereby submit irrevocably to the non-exclusive
      jurisdiction of the courts of Singapore.

10.   MISCELLANEOUS

10.1  The Schedule sat out in this Agreement shall form an integrated part of
      this Agreement.

10.2  This Agreement constitutes the entire agreement between the Parties with
      respect to the subject matter of this Agreement and supersedes all prior
      discussions, negotiations and agreements between them.

10.3  If any clause or provision is held invalid for whatever reasons, unless
      the continuing performance of this entire Agreement is substantially
      affected by the invalidity of such clause or provision, such invalidity
      shall not affect the other clauses and provisions and such invalid clause
      or provision shall he deemed as having been deleted from this Agreement.

10.4  No variation or amendment to this Agreement shall he effective unless in
      writing and signed by both Parties.

10.5  Unless expressly provided to the contrary in this Agreement, a person who
      is not a party to this Agreement has no right under the Contracts (Rights
      of Third Parties) Act, Chapter 538 of Singapore to enforce or to enjoy the
      benefit of any term of this Agreement.

10.6  Neither party shall assign all or any of its rights or transfer all or any
      of its obligations under this Agreement without a prior written consent of
      the other party.

10.7  The Parties agree to keep strictly secret and confidential, and under no
      circumstances to disclose to any person which is not a party to the
      Agreement, any information arising from or in connection with this
      Agreement unless disclosure of such information is expressly permitted by
      the prior written consent in writing of the other Party (such consent not
      to he unreasonably withheld).

      Notwithstanding Clause 10.6, the confidentiality obligation herein shall
      not apply to:

      (a)   any information obtained from any Party hereto which becomes
            generally known to the public, other than by reason of any wilful or
            negligent act or omission of any Party hereto or any of their
            agents, advisers or employees:

      (b)   any information which is required to be disclosed by law; and

                                       7

<PAGE>

      (c)   any information disclosed by any of the Parties to their respective
            bankers, financial advisers, consultants and legal or other advisers
            for the purpose of this Agreement and the transactions contemplated
            herein.

                [The rest of this page intentionally left blank]

                                       8

<PAGE>

IN WITNESS WHEREOF this Agreement was entered into on the day and year first
above written.

Signed by                     )
for and on behalf of          )
M2B WORLD HOLDINGS LIMITED    )              /s/ signature
Name:                         )
Title:                        )

In the presence of:

/s/ Yvone Foong
------------------------
Name & Signature of Witness
Yvone Foong

Signed by                     )
for and on behalf of          )
PT AGIS TBK                   )              /s/ signature
Name:                         )
Title:                        )

In the presence of:

/s/ signature
------------------------
Name & Signature of Witness
Name

                                       9

<PAGE>

                                   SCHEDULE 1

                        Description of the IPTV Platform
                        --------------------------------

MIDDLEWARE FRONT END
Top level GUI providing access to:
-Program Schedule
-Favorite Channels
-VOD Contents
-Information Channels
-Games
-Helps
-User Admin

Additional Main Menu items can be added upon request.

MIDDLEWARE BACK END
Provision, Maintain, & Edit Live Unicast Channel Channel Meta Data Updates and
Maintenance

Billing & Reporting Facilities:
Unlimited Hierarchy Management
Convergent prepaid and postpaid payments Invoice discounts & adjustments
Customized Invoice & Report Generation Taxation Customer Care Web Uls with
Dispute Management Accounting (Accounts Receiveable, Accounts Payable,
Collections & Dunning)

Highdeal Transactive
Pricing, rating and settlement solution.

-Pricing flexibility
-Automatic Management of Partner Settlement Plans] Real-time Revenue Sharing
-Comprehensive Turn-key Billing Solution -Streamlined Integration for speed to
market with Modular, Open Design -Simulation for profitable business models

CUSTOMER CARE MODULE
Transactive Customer Care enables CSRs to:
Add new customers
Add contacts to customers
Create and manage subscriptions to offers Set up billing information Create and
view accounts between clients and service providers Create discounts and rebates
Create, assign and view payments Manage Customer Disputes

Highly Flexible, Customizable Web-based Interface Built on an open and flexible
architecture Java classes Servlets JavaServer Pages (JSP) technology Rebrand
and change the look and feel of the UI Enables customization of workflows to
suit business processes Enables integration of Transactive UIs in another
web-based system Fast and easy deployment to CSR desktops Simplified mass
deployment to CSR desktops Compatibility with any kind of web browser
3 tier architecture based on application servers (Tomcat)

Server Components
IPTV end WEBTV Middleware Portal (1)
Highdeal Rating/Billing Server (1)
Database Server (2}
MS DRM Server (1)

                                       10

<PAGE>

Provision of Installation Materials
In addition to the proposed equipment, the following will be provided by BNS
during the installation and commissioning of the proposed system:-

Inter-rack Cables
Data connectors
Installation tools end testing equipment

Not Included
The followings are not included in the proposal and might need to be provided by
M2B:-

Equipment Rack
Long range structure wiring
IP Switch/Router fur intra-headend connectivity Gateway Switch/Router for public
internet connectivity Video Server Video Encoder

                                       11

<PAGE>

                                   SCHEDULE 2

AGIS further represents and warrants to the Vendor with the intent that the
provisions of this Schedule shall continue to have full force and effect
notwithstanding Completion, that all the statements set out in this Agreement
are true, complete and accurate:

i.    Information

      (a)   The facts set out in the recitals to this Agreement and in this
            Agreement are true, complete and accurate in all material respects
            and all information contained herein and which has been given by any
            of the directors or officers or professional advisers of the Group
            to any of the directors or officers or professional advisers of the
            Vendor in connection with this Agreement was when given true,
            complete and accurate in all respects and after making due and
            careful enquiries the Group is not aware of any fact or matter not
            disclosed in writing to the Vendor which renders any such
            information untrue, inaccurate or misleading or the disclosure of
            which might reasonably affect the willingness of the Vendor to
            purchase the Consideration Shares or the price at or terms upon
            which the Vendor would be entitled to.

      (b)   The Group will take all such steps within their power to provide all
            such information and documents with regard to the business and
            assets of the Group as the Vendor may reasonably require and will
            give the Vendor and its solicitors such assistance and facilities as
            they may reasonably require to enable them to fully investigate the
            accuracy of the warranties herein contained.

ii.   Memorandum and Articles of Association

      (a)   The copies of the Memorandum and Articles of Association or Bye-laws
            of each of the entities within the Group delivered to the Vendor is
            a true copy.

      (b)   There is no provision in the Memorandum and Articles of Association
            or Bye-laws of each of the entities within the Group and no
            provision of any existing contract, agreement or instrument binding
            on each of the entities within the Group that any of its assets or
            property which has been or would be contravened by the execution and
            delivery of this Agreement arid such other documents and instruments
            as are contemplated in this Agreement or by the performance or
            observance by the Group of any of the terms hereof or thereof.

iii.  Dividends

      No dividends or other distributions of profits have been declared made or
      paid by the Group since the Last Accounting Date and all dividends or
      distributions of profits declared made or paid since the date of
      incorporation of each of the Group have been declared made or paid in
      accordance with its Articles Of Association or Bye-laws.

iv.   Legal Matters

      (a)   Each of the entities within the Group has full power and authority
            to carry on its business as now or previously carried on, in
            particular, each of the entities within the Group has the requisite
            approvals and authority under the present certificate to carry on
            its business as now or previously carried on.

                                       12

<PAGE>

      (b)   There are no claims, actions, suits, proceedings, labour disputes or
            investigations pending or, threatened, before any national, state or
            local court or governmental or regulatory authorities, domestic or
            foreign, or before any arbitrator of any nature, brought by or
            against any entity within the Group, or any of their officers,
            directors, employees or agents involving affecting or relating to
            the Group or transactions contemplated by this Agreement, nor is any
            basis known to any directors or officers of each of the entities
            within the Group for any such action, suit, proceeding or
            investigation.

      (c)   Each of the entities within the Group has not gone into liquidation
            or passed any resolution or winding up, nor has any petition for
            winding up or for each of the entities within the Group to be placed
            under judicial management been presented against or by each of the
            Group. No receiver or receiver or manager of the undertaking or
            assets (or any part thereon of each of the entities within the Group
            has been appointed or is threatened or expected to be appointed.

      (d)   Each of the entities within the Group has not defaulted nor is it in
            default of any of its obligations or undertakings contained in any
            contracts, agreements or instruments binding on it or any of the
            assets or property of each of the entities within the Group nor has
            any event of default (however termed) occurred or is continuing
            under any such contracts, agreements or instruments nor has any
            borrowing or indebtedness of each of the entities within the Group
            whether as principal or surety become or is capable of being
            declared payable prior to its stated maturity.

      (e)   Each of the entities within the Group has and will have full power
            and authority and has taken all necessary corporate action and
            obtained all requisite corporate approval to enter Into and perform
            this Agreement which constitute or will constitute valid and binding
            obligations on it in accordance with the terms hereof, in
            particular, the issue of the Consideration Shares herein has been
            approved by each of the entities within the Group in general
            meeting.

v.    Business

      (a)   Since the Last Accounting Date:-

            (1)   the business of each of the entities within the Group has bean
                  continued in a normal manner;
            (2)   neither the turnover nor the financial nor trading position of
                  any of the entities within the Group has adversely and
                  materially changed;
            (3)   each of the entities within the Group has not borrowed any
                  money;
            {4)   each of the entities within the Group has not learnt of any
                  circumstances making bad or doubtful any debt;
            (5)   there has been no change in any method of accounting or
                  accounting practice of each of the entities within the Group
                  nor has any of them kept its hooks of accounts, files and
                  records other than in the ordinary course and other than in
                  accordance with existing practice.

      (b}   Since the Last Accounting Date:-

            (1)   the business of each of the entities within the Group has not
                  been materially or adversely affected by the loss of any
                  important customer or by any abnormal factor not affecting
                  similar businesses to a like extent; and

                                       13

<PAGE>

            (2)   after making due and careful enquiries is not aware of any
                  facts which are likely to give rise to any such effects.

      (c)   Each of the entities within the Group has all the necessary licences
            and consents for the proper carrying out of its business. All
            statutory, municipal and other requirements applicable to and all
            conditions applicable to any licences and consents involved in the
            carrying out of the business of each entity as now or previously
            carried an have been complied with and each entity is not aware of
            any intended or contemplated refusal or revocation of any such
            licence or consent.

vi.   Assets

      (a)   No statutory or contractual notices have been served on each of the
            entities within the Group in respect of its assets or property which
            in any way might impair. prevent or otherwise interfere with use of
            each of the entities within the Group or proprietary rights in such
            assets property.

      (b)   All the fixed and movable equipment and vehicles used in connection
            with the business of each of the entities within the Group and all
            other assets of or represented as belonging to each of the entities
            within the Group are the absolute property of such entity save as
            those held under hire purchase or lease or rental agreements and
            each of the entities within the Group has not defaulted In any of
            the material provisions of any hire or hire purchase or lease or
            rental agreement, or agreement for payment on deferred terms or bill
            of sale or trading contract to which it is a party and each entity
            has observed and performed all the terms and conditions on its part
            to be observed and performed in all such agreements trading
            contracts and bills.

      (c)   Where any of the assets of each of the entities within the Group or
            property comprise receivables or debts due to Reel] entity
            (including those arising from loans, credit facilities made by each
            entity and hire purchase agreements and lease agreements entered
            into by each entity), that each of the entities within the Group has
            not assigned whether by factoring, forfeiting, absolutely or by way
            of security), transferred, pledged, encumbered, charged, sold or
            disposed of such receivables or debts or agreed to do any of the
            aforesaid.

vii.  Contracts

      (a)   No uncompleted contract or commitment of a Material Amount has been
            entered into or incurred by each of the entities within the Group
            which:-

            (1)   is outside its ordinary and proper course of business or is of
                  an onerous or long-term nature; or

            (2)   involves or is likely to involve obligations or liabilities
                  which by reason of their nature or magnitude ought reasonably
                  to be made known to the Vendor.

            For the purpose of this paragraph, "Material Amount" means an amount
            which by itself or in the aggregate exceeds US$10,000.

      (b)   Each of the entities within the Group:

            (1)   does not, since the Last Accounting Date, have any material
                  capital commitment or will pending Completion undertake any
                  material capital commitment and for the

                                       14

<PAGE>

                  purpose of this paragraph "material capital commitment" means
                  commitment(s) which by itself or in the aggregate exceeds
                  US$10,000/-.

            (2)   is not a party to any contract which cannot be terminated by
                  three months' notice or less or (where not reduced to writing)
                  by reasonable notice without giving rise to any claim for
                  damages or compensation; and

            (3)   has not committed any breach of any of its obligations or any
                  of the terms and conditions of any material contract and will
                  continue to perform all such obligations and to observe all
                  such terms and conditions up to Completion.

      (c)   Each of the entities within the Group has nut by reason of any
            default by it in any of its obligations become hound or liable to be
            called upon to repay prematurely any loan capital or borrowed
            monies,

      (d)   There are no existing contracts or engagements to which any of the
            entities within the Group is a party and in which any shareholder
            and/or director of each of the Group is interested.

      (e)   The terms of all leases, tenancies, licences, concessions and
            agreements of whatever nature to which each of the entities within
            the Group is a party hove been duly complied with by all the parties
            thereto and no such lease, tenancy, licence, concession or agreement
            will become subject to avoidance, revocation or be otherwise
            breached or affected upon or in consequence of the making or
            implementation of this Agreement.

viii. Intellectual Property

      (a)   No disclosure has been made to any person of any of the industrial
            know-how or any intellectual property rights or the financial or
            trade secrets of each of the entities within the Group save in the
            ordinary arid proper course of business of each of the entities
            within the Group and upon (in the case of industrial know-how) each
            of the entities within the Group having secured the confidential
            nature of any such disclosure.

      (b)   There are no claims or threatened claims against each of the Group
            for infringement of:

            (i)   the usage of any patent, registered designs, know-how or trade
                  secrets, copyrights, trade marks, service marks, trade and
                  business names or similar intellectual property rights
                  (whether registered or not) (or which has been used) by it;

            (ii)  the commercial monopoly rights of third parties or which has
                  been disclosed to it by third parties under licence or similar
                  arrangements and no such claims have been settled by the
                  giving of any undertakings which remain in force.

ix.   Book Debts and Absence of Undisclosed Liabilities

      (a)   None of the book debts which are included in the Accounts or which
            have subsequently arisen have been outstanding for more than 3
            months, have realised or will realise in the normal course of
            collection their full value as included in the Accounts or in the
            books of each of the Group after taking into account the provisions
            for bad and doubtful debts in the Accounts.

      (b)   None of the book debts which are included in the Accounts have been
            released on terms that any =ebtor pays loss than the net book value
            after any provision made in the Accounts as at the Last Accounting
            Date or have been written off or have proved to any extent to be
            irrevocable or is now regarded as being irrevocable.

                                       15

<PAGE>

      (c)   There are no known reasons or circumstances why the book debts which
            are included in the Accounts should not be collectable, realisable
            and enforceable in full on their respective due dates.

      {d}   Save as disclosed herein, each of the Group does not have any
            indebtedness or liability absolute or contingent, known or unknown
            relating to each of the Group, which is not shown or provided for in
            the Accounts. Except as shown in the Accounts, each of the Group are
            not directly or indirectly liable upon or with respect to (by
            discount, repurchase agreements or otherwise), or obliged in any
            other way to provide funds in respect of, of obliged in any other
            way to provide funds in respect of, or to guarantee or assume, any
            debt, obligation or dividend of any person.

x.    The records. statutory books and books of account of each of the entities
      within the Group arc duly entered up and contain true, full and accurate
      records of all matters to be dealt with therein and all such books and all
      records and documents (including documents of title) which are its
      property are in its possession or under its control and all returns
      required to he made to the Registrar of Companies or similar authority and
      any relevant authority have been duly and correctly made.

xi.   The Accounts of each of the entities within the Group have been prepared
      in accordance with the applicable statutes and regulations (a true copy of
      the Accounts certified by the Secretary or a director of each of the Group
      has been delivered to the Vendor) and the Accounts of each of the entities
      within the Group have been prepared on a consistent basis in accordance
      with accounting principles, standards and practices generally accepted in
      Indonesia so as to give a true and fair view of the state of affairs of
      each of the entities within the Group at the Last Accounting Date and of
      the profits or losses for the period concerned.

xii.  All lax Returns required to be filed before the Completion Date in respect
      of each of the entities within the Group have been (or will have been by
      the Completion Date) filed, and each of the Group has (or will have by the
      Completion Date) paid or otherwise made full provision or reserve in the
      Accounts for the payment of all Taxes required to be paid in respect of
      the periods covered by the Accounts up to and including the Last
      Accounting Date and has made full provision or reserve for the payment of
      all Taxes with respect to periods ended up to and including the Last
      Accounting Date. All Taxes in respect of the periods up to and including
      the Last Accounting Date of the Group have been paid or adequately
      provided for and there are no proposed additional tax assessment against
      it not adequately provided for in the Accounts.

      For purposes of this paragraph, "Tax Returns" means any return, report,
      information return or other document (including any related or supporting
      information} filed or required to be filed with the government in
      connection with the determination, assessment, collection or
      administration of any Taxes.

                                       16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]