Document:

ECDIS
on R.O.K. Navy P154(AOE-II) Contract

Navigation Technology Solution for Hyundai Heavy Industries

 

Project:
1 Shipset of ECDIS on R.O.K. Navy P154(AOE-II)

Ordering:
Hyundai Heavy Industries Co., Ltd.

Contract
No. (HHI): PU1544E302

Product
No.: E302

Price:
272,000,000 Won

Payment
Terms

 

	 	●	30%
    Initial Payment
	 	 	 
	 	●	70%
    After Installation

 

Installation
Date: July 12th 2016

Supply
& Installation Terms

 

	 	●	Technical
    Support and Training
	 	 	 
	 	●	Test
    Drive & Commissioning
	 	 	 
	 	●	The
    installation date can be changed per The Ordering’s demand
	 	 	 
	 	●	The
    Contract is in full effect when there is no refusal for 30 days after being issued

 

Hyundai
Heavy Industries Co., Ltd. (“The Customer”) and e-MARINE Inc. (“The Supplier”) agree to execute all matters
for [ECDIS for R.O.K. Navy P154(AOE-II)]

 

April
1st 201624
Sets of HATTELAND Supply Contract

Navigation Technology Solution for Hyundai Heavy Industries

 

Project:
24 Sets of HATTELAND for Hyundai Heavy Industries

Ordering:
Hyundai Heavy Industries Co., Ltd.

Contract
No. (HHI): EM146M6013

Project
No. (HHI): SH744 9H35DF – G/E

Price:
132,000,000 Won

Payment
Terms

 

	Product	 	Qt.	 	Installation Date	 	Price	 
	POS FOR MARITIME MULTI COMPUTER (BA5737-4480-01)	 	4	 	02/10/2015	 	 	20,000,000 Won	 
	POS FOR MARITIME MULTI COMPUTER (BA5737-4480-01)	 	4	 	03/19/2015	 	 	20,000,000 Won	 
	POS FOR MARITIME MULTI COMPUTER (BA5737-4480-01)	 	4	 	06/19/2015	 	 	20,000,000 Won	 
	POS FOR MARITIME MULTI COMPUTER (BA5737-4480-01)	 	4	 	08/10/2015	 	 	20,000,000 Won	 
	POS FOR MARITIME MULTI COMPUTER (BA5737-4480-01)	 	4	 	10/26/2015	 	 	20,000,000 Won	 
	POS FOR MARITIME MULTI COMPUTER (BA5737-4480-01)	 	4	 	01/05/2016	 	 	20,000,000 Won	 

 

Installation
Date: February 10th 2015 – January 5th 2016 

 

Hyundai
Heavy Industries Co., Ltd. (“The Customer”) and e-MARINE Inc. (“The Supplier”) agree to execute all matters
for [24 Sets of HATTELAND]

 

June
3rd 2014Employment(Salary)
Agreement

 

e-Marine
Co., Ltd.(The Company) and Min Sik Park(The Employee) sign an annual salary agreement for the period between March 1st, 2017 and
February 28th, 2018 and mutually pledge to fulfill faithfully

 

Article
1. Agreement Period

 

The
agreement is for the period between March 1st, 2017 and February 28th, 2018, total of twelve (12) months. If the date of entry
is later than the commencement date of this Agreement (March 1st), the salary amount noted in the agreement is for the period
between the date of entry and Feb 28th of the following year.

 

Article
2. Compensation Configuration

 

	Sort	 	Summary
	Basic
    Salary	 	-
    Basic monthly Salary
	Legal
    Allowance	 	-
    Overtime Allowance 
	Other
    Allowance	 	-
    Meals, childcare allowance, vehicle maintenance cost, organization management fee
	 	 	-
    Bonus

 

Article
3. Compensation Calculation

 

3.1
Annual salary for the period between March 1st, 2017 and February 28th, 2018 is 93,370,393 KRW which consists of basic salary,
legal allowance and other allowance.

 

3.2
Basic salary is 65,709,993 KRW and it is calculated as below

 

-
Basic Salary = Monthly Basic Salary X 12

 

3.3
Legal Allowance means overtime allowance and it is 26,460,400 KRW. It is calculated with the base of 40 hours of overtime per
a month.

 

-
Monthly Overtime = Monthly basic salary ÷ 209 hours x 1.5 x 40 hours

-
Legal Allowance = Monthly overtime x 12

 

3.4
Other Allowance is 1,200,000 KRW for lunch meals. The company may pay a prescribed allowance determined by The Company.

 

Article
4. Payment method and time

 

4.1
Total annual salary is divided by twelve and distributed per month.

 

4.2
Monthly salary is given on 25th date of each month. If the date is a holiday, the salary is paid on the day before.

 

    	 

     

    

 

Article
5. Salary Establishment and Adjustment

 

5.1
Salary is adjusted once a year on the date that The Company chooses.

 

5.2
Salary can be adjusted due to reasons such as promotion, change of position, etc.

 

Article
6. Confidentiality 

 

Contents
of the agreement between The Company and The Employee must be confidential. The Employee’s salary shall not be disclosed
to other employees.

 

Article
7. Termination

 

If
The Company finds The Employee to be harmful to The Company and/or finds The Employee damaging The Company, The Company has the
right to terminate the agreement.

 

Article
8. Other

 

Regarding
severance pay and vacation days compensation, The Employee agree to follow The Company’s Articles of Incorporation and other
related Korean laws.

 

In
order to prove the above, two copies of the agreement must be fully executed, and The Company and The Employee each will keep
one copy.Employment
(Salary) Agreement

 

e-Marine
Co., Ltd.(The Company) and Seung HO Yang(The Employee) sign an annual salary agreement for the period between March 1st, 2017
and February 28th, 2018 and mutually pledge to fulfill faithfully

 

Article
1. Agreement Period

 

The
agreement is for the period between March 1st, 2017 and February 28th, 2018, total of twelve (12) months. If the date of entry
is later than the commencement date of this Agreement (March 1st), the salary amount noted in the agreement is for the period
between the date of entry and Feb 28th of the following year.

 

Article
2. Compensation Configuration

 

	Sort	 	Summary
	Basic
    Salary	 	-
    Basic monthly Salary
	Legal
    Allowance	 	-
    Overtime Allowance 
	Other
    Allowance	 	-
    Meals, childcare allowance, vehicle maintenance cost, organization management fee
	 	 	-
    Bonus

 

Article
3. Compensation Calculation

 

3.1
Annual salary for the period between March 1st, 2017 and February 28th, 2018 is 94,188,353 KRW which consists of basic salary,
legal allowance and other allowance.

 

3.2
Basic salary is 66,293,132 KRW and it is calculated as below

 

-
Basic Salary = Monthly Basic Salary X 12

 

3.3
Legal Allowance means overtime allowance and it is 26,265,221 KRW. It is calculated with the base of 40 hours of overtime per
a month.

 

-
Monthly Overtime = Monthly basic salary ÷ 209 hours x 1.5 x 40 hours

-
Legal Allowance = Monthly overtime x 12

 

3.4
Other Allowance is 1,200,000 KRW for lunch meals. The company may pay a prescribed allowance determined by The Company.

 

Article
4. Payment method and time

 

4.1
Total annual salary is divided by twelve and distributed per month.

 

4.2
Monthly salary is given on 25th date of each month. If the date is a holiday, the salary is paid on the day before.

 

    	 

     

    

 

Article
5. Salary Establishment and Adjustment

 

5.1
Salary is adjusted once a year on the date that The Company chooses.

 

5.2
Salary can be adjusted due to reasons such as promotion, change of position, etc.

 

Article
6. Confidentiality 

 

Contents
of the agreement between The Company and The Employee must be confidential. The Employee’s salary shall not be disclosed
to other employees.

 

Article
7. Termination

 

If
The Company finds The Employee to be harmful to The Company and/or finds The Employee damaging The Company, The Company has the
right to terminate the agreement.

 

Article
8. Other

 

Regarding
severance pay and vacation days compensation, The Employee agree to follow The Company’s Articles of Incorporation and other
related Korean laws.

 

In
order to prove the above, two copies of the agreement must be fully executed, and The Company and The Employee each will keep
one copy.Employment(Salary)
Agreement

 

e-Marine
Co., Ltd.(The Company) and Ung Gyu Kim(The Employee) sign an annual salary agreement for the period between March 1st, 2017 and
February 28th, 2018 and mutually pledge to fulfill faithfully

 

Article
1. Agreement Period

 

The
agreement is for the period between March 1st, 2017 and February 28th, 2018, total of twelve (12) months. If the date of entry
is later than the commencement date of this Agreement (March 1st), the salary amount noted in the agreement is for the period
between the date of entry and Feb 28th of the following year.

 

Article
2. Compensation Configuration

 

	Sort	 	Summary
	Basic
    Salary	 	-
    Basic monthly Salary
	Legal
    Allowance	 	-
    Overtime Allowance 
	Other
    Allowance	 	-
    Meals, childcare allowance, vehicle maintenance cost, organization management fee
	 	 	-
    Bonus

 

Article
3. Compensation Calculation

 

3.1
Annual salary for the period between March 1st, 2017 and February 28th, 2018 is 202,411,080 KRW which consists of basic salary,
legal allowance and other allowance.

 

3.2
Basic salary is 143,447,134 KRW and it is calculated as below

 

-
Basic Salary = Monthly Basic Salary X 12

 

3.3
Legal Allowance means overtime allowance and it is 57,763,946 KRW. It is calculated with the base of 40 hours of overtime per
a month.

 

-
Monthly Overtime = Monthly basic salary ÷ 209 hours x 1.5 x 40 hours

-
Legal Allowance = Monthly overtime x 12

 

3.4
Other Allowance is 1,200,000 KRW for lunch meals. The company may pay a prescribed allowance determined by The Company.

 

Article
4. Payment method and time

 

4.1
Total annual salary is divided by twelve and distributed per month.

 

4.2
Monthly salary is given on 25th date of each month. If the date is a holiday, the salary is paid on the day before.

 

    	 

     

    

 

Article
5. Salary Establishment and Adjustment

 

5.1
Salary is adjusted once a year on the date that The Company chooses.

 

5.2
Salary can be adjusted due to reasons such as promotion, change of position, etc.

 

Article
6. Confidentiality 

 

Contents
of the agreement between The Company and The Employee must be confidential. The Employee’s salary shall not be disclosed
to other employees.

 

Article
7. Termination

 

If
The Company finds The Employee to be harmful to The Company and/or finds The Employee damaging The Company, The Company has the
right to terminate the agreement.

 

Article
8. Other

 

Regarding
severance pay and vacation days compensation, The Employee agree to follow The Company’s Articles of Incorporation and other
related Korean laws.

 

In
order to prove the above, two copies of the agreement must be fully executed, and The Company and The Employee each will keep
one copy.

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