Document:

Exhibit 4.2

Exhibit 4.2

Translation of Shares Transfer Agreement for Lake Communication Limited

	 	 	 	 	 
	Seller:

	 	Shenzhen GrenTech Company Limited (party A)

	Address:

	 	Guoren Building, Keji Central 3rd Road, Hi-Tech Park, Nanshan District, Shenzhen

	Authorized representative:

	 	Gao YingJie

	Position:

	 	Chairman

	Buyer:

	 	Zhuang HaiFan (party B)

	ID#:

	 	320102196412081637
	Address:

	 	Room 604, 48 Xin Hua Nan Road, Quanzhou

This contract is signed by party A and party B in Shenzhen

Party A agreed to sell his 100% shares of Quanzhou Lake Communication Company Limited (Lake
Communication) to Party B.

Whereas Party B agree to accept 100% shares of Lake Communication from Party A. After the friendly
compromised from both parties with the principle of fair, both parties had agreed on the following
terms in the transfer 100% shares of Lake Communication from party A:

Term 1: Shares transfer price

Party A agree to transfer 100% shares of Lake Communication to party B in RMB101.33 million under
the terms and regulations of this agreement. Party B is willing to accept party A’s Lake
communication shares in the above amount.

Term 2: Guarantee

Party A guarantee that all shares which is going to transfer to party B are the possession of party
A. Party A has the full right on reallocation. Party A has guaranteed that all shares has no
collateral and other hypothec. Otherwise, party A have to responsible on any economic and law
liabilities caused by the above.

Party B had guarantee will finish the payment amount in term 1 within 30 days.

Term 3: The share of liabilities

	1.	 	After this agreement goes into effect, party B will hold 100% shares of Lake Communication
and possess the company’s profit and loss and risks which include all liabilities that Lake
communication has.

	2.	 	After this agreement goes into effect, party A will not hold any shares of Lake Communication
and possess the company’s profit and loss and risks which include all liabilities that Lake
communication has.

 

 

 

Term 4: Related Fees

Both parties agree to responsible on the fees that is generated by the shares transfer and will pay
50% by each party.

Term 5: Breach of contract

1. The party who breach of faith will need to responsible on the liabilities if any party does not
property and fully perform the contract obligations. The party who breach of faith should also
reponsible on any loss on the other party.

2. If party B does not pay the payment on time, 1% of late payment penalty for each late payment
day will be applied.

Term 6: Changes and termination of the oontract

The contract can be change or terminate if one of the following situation happen. However, both
party A and B must signed the agreement of change or termination in order to be effective.

	1.	 	The contract cannot be carry out caused by the act of God or any party without mistake but
unavoidable accident:

	 
	2.	 	The situation had been changed and both party A & B agree to change or terminate.

Term 7: Applied law and settlement of conflict

	1.	 	This contract is under the Chinese Law

	2.	 	Any conflict or related matters about the contract, both parties should solve the conflict in
friendly manner. If both parties cannot solved the conflict, the case should submit to
Shenzhen Arbitration Commission. The result of the commission is the final and both parties
have to be in force.

Term 8: The effective terms of the contract

This contract will be effective after the date which is signed or stamped by both parties
representatives or consigners. Both parties should proceed the registration process within 15
days.

Term 9: Others

	1.	 	There are 4 original copies. Each party A and B keep 1 copy and Lake Communication keep 1
copy. The rest of the copy will be kept in the related governmental authorities.

2. The contract is signed by both party A and B in Shenzhen.

Sell side: (Stamp) Shenzhen GrenTech Company Limited Buy Side: (signature)            

Legal representative: (Signature/stamp)            

December 17, 2008

 

 

 

Translation of Disposition of Liabilities Agreement

Contract
Number: _____

Party A:

	1.	 	Shenzhen GrenTech Company Limited (Party A1)

Address: Guoren Building, Keji Central 3rd Road, Hi-Tech Park, Nanshan District, Shenzhen

Representative: Gao Yingjie

	2.	 	GrenTech (BVI) Limited (Party A2)

Address: P.O.Box 957, Offshore Incorporations Centre, Road Town, Tortala, British Virgin Islands

Party A1 and Party A2 be called Party A

Party B:

	1.	 	Quanzhou Lake Communication Company Limited (Party B1)

Address: Floor 2-4, Production Area B3, JiangNan Hi-Tech Communication Industrial Park, Li Cheng
District, Quanzhou

Representative: Zhuang HaiFan

	2.	 	Quanzhou Lake Microwave Company Limited (Party B2)

Address: 3/F, R&D Building, Block A, Lake Technology Park, Baozhou Road North, Fengze District,
Quanzhou, Fujian

Representative: Zhuang HaiFan

Party B1 and Party B2 be called Party B.

Party C:

	1.	 	Zhuang HaiFan (Party C1)

ID number: 320102196412081637

Address: Room 604, 48 Xin Hua Nan Road, Quanzhou, Fujian

	2.	 	Lake (HK) Technology Limited (Party C2)

Representative: Zhuang KunjieNationality: ChinaPosition: Chairman

Address: 16/F, Wing Lung Bank Building, 45 Des Voeux Road Central, Hong Kong

Party C1 and Party C2 be called Party C

Whereas:

	1.	 	On December 17, 2008, Party A1 and Party C1 had signed an agreement <Shares transfer
agreement for Lake Communication Limited>. Party A1 transfer 100% of Party B1’s shares to
Party C1 in the price of RMB101.33 million and Party C1 had agree to accept the transfer.

	2.	 	On December 17, 2008, Party A and Party C had signed an agreement <Shares Transfer
Agreement> and also signed an agreement <Supplementary Agreement: Regarding to the Price
of Lake Microwave shares transfer> on December 20, 2008. Party A1 transfer 51% of Party
B2’s shares to Party C1 in the price of RMB2.55 million. Party C1 had agree to accept the
transfer. Party A2 transfer 49% of Party B2’s shares to Party C2 in the price of RMB2.45 million. Party C2 had agree to accept the transfer.

 

 

 

	3.	 	Party A2 had deputize Party A1 receives Party B2’s share transfer fee in the amount of
RMB2.45 million. Party C1 agreed to pay the transfer fee RMB2.45 million for Party C2.
Finally, Party A1 will accept payment from party C1 in the total of RMB106.33 million.

	4.	 	During the discussion between Party A and party C on the share transfer, the payment
RMB106.33 million of share transfer had inculded the bonus receivable RMB15.2 million which is
owe to Party A1 from Party B1. Finally, Party A1’s bonus receivable of RMB15.2 million which
is owe from Party B1 should be wavied.

	 
	5.	 	Party A1 owe Party B total amount of RMB106.33 million. (See Details <Receivable List>)

The liabilities problems from Party A and Party B, and Party A and Party C had been fully agree by
all parties according to the <Contract Law of PRC>. All parties had come to the following
liabilities disposition agreement:

	1.	 	Party A, Party B and Party C had all confirmed the <Receivable List> in the total of
RMB106.33 million which is owe from Party A1 to Pary C.

	2.	 	Party A, Party B and Party C had all agreed that Party A1 should transfer the liability
payable right, which is pay from Party C in the amount of RMB106.33 million, to Party B.
Party B should use all receivable due from Party A1 in the <Receivable List> to exchange
the liability payable right in the amount of RMB106.33 million. Finally, any liabilities in
the <Receivable List> and generated from the shares transfer will be settled.

	3.	 	Party A1 agree to wavied the Bonus payable of RMB15.2 million from party B1 and the bonus
payable between Party A1 and B1 will be settled.

	 
	4.	 	Statement, Guarantee and Promises

	 	1.	 	Party A promised and guaranteed

	 
	 	a)	 	will legally impeach and execute the terms of the liabilities transfer in the
agreement and will assume all civil action independently.

	 
	 	b)	 	The transfer of the liabilities are legal and effective.

	 
	 	2.	 	Party B promised and guaranteed

	 
	 	a)	 	will legally impeach and accept the terms of the liabilities transfer in the
agreement and will assume all civil action independently.

	 
	 	b)	 	Any related authorities or department had already permitted the acceptance of the
liabilities transfer to Party B.

	 
	 	3.	 	Party C promised and guaranteed

Party C1 is the first payor while Party C2 is the alternate payor of the liabilities for
Party B

	5.	 	After the effective of the contract, Party A cannot ask Party C for the transferred debt of
RMB106.33 million; Party B cannot ask Party A1 for the receivable which in the the
<Receivable List> in the amount of RMB106,33 million; Party A1 cannot ask Party B1 for
the Bonus receivable of RMB15.2 million.

	6.	 	Party A, Party B and Party C all agreed that if any party/parties breach the statement,
guranttee, promise or other obligations and make other party/parties suffer loss, penalty,
damage and etc. The party/parties who breach the contract will compensate all the losses.

 

 

 

	7.	 	The effective and temination of the contract

	 	1.	 	The contract will be effective after Party A, Party B and Party C’s representative
or authorized people signed and stamped the company chop.

	 	2.	 	The attachments are part of the contract, they have the same legal power as the
contract.

	 	3.	 	If there is not details enough in the contract, then the contract will follow the
law, regulation and rules to be processed.

	 	4.	 	There are totally 6 copies of the contract, Party A, Party B, Party C each have 1
copy and all copies are equally cover by the law.

Attachment: <Receivable List>

(No more below)

 

 

 

	 	 	 	 	 	 	 	 	 
	(Signature page only, no other content in this page)
	 
	 	 	 	 	 	 	 	 
	Party A:
	 	 	 	1.	 	 	Shenzhen GrenTech Company Limited (Stamp)
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Authorized Representative (Signature):
	 
	 	 	 	 	 	 	 	 
	 	 	 	2.	 	 	GrenTech (BVI) Limited (Stamp)
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Authorized Representative (Signature)
	 
	 	 	 	 	 	 	 	 
	Party B:
	 	 	 	1.	 	 	Quanzhou Lake communication Company Limited (Stamp)
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Authorized Representative (Signature)
	 
	 	 	 	 	 	 	 	 
	 	 	 	2.	 	 	Quanzhou Lake Microwave Company Limited (Stamp)
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Authorized Representative (Signature)
	 
	 	 	 	 	 	 	 	 
	Party C:
	 

	 	 	1.	 	 	 
	 	 
	 	 	 	 	 	 	Mr. Zhuang HaiFan (Signature)
	 
	 	 	 	 	 	 	 	 
	 	 	 	2.	 	 	Lake (HK) Technology Company Limited (Stamp)
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Authorized Representative (Signature)

This contract is signed in Shenzhen on year month dayEX-4.61

Exhibit 4.61

AMENDMENT TO

THE EXCLUSIVE RAGNAROK ONLINE LICENSE AND DISTRIBUTION AGREEMENT

THIS AMENDMENT was entered into on this 4th day of March, 2008 (“Effective Date”), by
and between Gravity Co., Ltd.,(“Licensor”), a corporation duly organized and existing under the
laws of the Republic of Korea and having its Principle office at 15F, Nuritkum Square BIZ Tower,
1605, Sangam-Dong, Mapo-Gu Seoul and AsiaSoft Corporation Public Co., Ltd., (“Licensee”) a
corporation duly organized and existing under the laws of the Thailand and having its principal
office at 9 U.M. Tower, 28th Floor, Room 9/283-5, Ramkhamhaeng Road, Suanluang, Bangkok
10250, Thailand.

RECITALS

WHEREAS, Licensor has entered into EXCLUSIVE RAGNAROK ONLINE LICENSE AND DISTRIBUTION AGREEMENT
(“the Agreement”), on June 13th, 2002; and

WHEREAS, Licensor has entered into AMENDMENT TO THE EXCLUSIVE RAGNAROK ONLINE LINCENSE AND
DISTRIBUTION AGREEMENT (“the First Amendment”), on October 27th, 2004; and

WHEREAS, Licensor has entered into AMENDMENT TO THE EXCLUSIVE RAGNAROK ONLINE LINCENSE AND
DISTRIBUTION AGREEMENT (“the Second Amendment”), on March 5th, 2007;

NOW, THEREFORE, the Parties agree as follows:

1. Extend the Term of the Agreement

The Parties agree to extend the term of the Agreement for two (2) year (“Renewed Term”) from March
5th, 2008 with conditions stated below in this Amendment. The Newly extended term of the
Agreement shall be from March 5th, 2008 to March 4th, 2010.

 

 

2. Payment

2.1. Technical Support Service Maintenance Fee

Licensee shall pay to Licensor a non-recoupable and non-refundable sum of One Hundred Thousand
United States Dollars (USD $100,000) as Technical Support Service Maintenance Fee in the following
installments;

	 	a)	 	Twenty Five Thousand USD (US$ 25,000): within Thirty (30) calendar days of the Effective
Date
	 
	 	b)	 	Twenty Five Thousand USD (US$ 25,000): within Forty (40) calendar days of the Effective
Date
	 
	 	c)	 	Twenty Five Thousand USD (US$ 25,000): within Sixty (60) calendar days of the Effective
Date
	 
	 	d)	 	Twenty Five Thousand USD (US$ 25,000): within Seventy (70) calendar days of the Effective
Date

2.2. Royalty

Licensee shall pay to Licensor thirty five percent (35%) of the Service-Sales Amount paid by End
Users(Royalty rate(30%) of the Service-Sales Amount as defined in Article 5.1 (b) of the Agreement
is replaced with thirty five percent(35%) of the Service-Sales Amount in this Amendment).

3. Billing System and Relative obligations of Licensee

Licensee shall approve the real-time access of Licensor to the Billing system and Game Database
only for the purpose of collecting the information necessary to calculate Royalty payment and to
analyze the number of End-Users, including, but not limited to, the maximum and average of daily
concurrent End-Users and the registered number of End-Users in the Territory. Licensee shall make
best efforts to provide an appropriate database interface agreed between the Parties and adapt the
formulated System and Network policy and technical configuration by Licensor, which enables
Licensor to monitor the aforementioned information in real-time basis.

4. Except as hereinabove expressly agreed and amended, all of the terms and conditions of the
Agreement shall continue in full force and effect.

 

 

IN WITNESS THEREOF, the Parties have caused and executed this Amendment on the date first
above-written in duplicate originals by their duly authorized representatives as of the day and
year first above written.

	 	 	 	 	 	 	 	 
	GRAVITY Co., Ltd.
 	 	AsiaSoft Corporation Public Co., Ltd.
 	 
	By	 	 	By:  	 	 
	Name: Il Young, Ryu	 	Name: Sherman Tan	 
	Title: Chairman & CEO	 	Title: Chairman

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