Document:

Exhibit
4.12

     

    Global
Game Portal webzen.com Joint Venture Agreement

    

    Webzen
Inc.,(hereinafter referred to as “A”) has begun the operation of the global game
portal “webzen.com” and to promote growth of “webzen.com” and produce
synergistic effect, “A” is entering into this agreement that stipulates that NHN
Games Co., Ltd.,(hereinafter referred to as “B”) will have joint ownership and
conduct joint operation of “webzen.com” and that “A” will service its game
titles MU and SUN Online and B its game titles Archlord and Reign of Revolution
(“R2”) through “webzen.com”. As such, “A” and “B” agree to execute the following
contents of this agreement in good faith.

    

    Article 1
(Purpose)

    

    The purpose of this
agreement is to define the rights, obligations, and other necessary items of
each party with regards to the global game portal “webzen.com,” jointly owned
and operated by “A” and “B”.

    

    Article 2
(Definitions)

    

    Unless otherwise
stipulated, the definitions of the terms used in this agreement are as
follows.

    

    
      	
              1.  

            	
              Game Sales:
      Direct sales from within the games. Examples include the sales of items
      and subscription fees from flat rate
games.

            

    

    
      	
              2.  

            	
              Change of
      Management: Situations in which certain entities, excluding the management
      (registered directors) of the two companies, as of the date of signing
      this agreement (a) possess 10% or more of the company’s stock or (b)
      possess stock in excess of the stock possessed by the current management,
      resulting in the current management being unable to manage the company as
      it intends.

            

    

    
      	
              3.  

            	
              Global Portal
      Committee: The committee that is composed of personnel from the two
      parties that are in charge of making important decisions regarding the
      Portal Business (as defined below).

            

    

    
      	
              4.  

            	
              Global Portal
      Task Force Team (“TFT”): Refers to the department or organization made up
      of personnel in charge of the practical operations of the Portal Business
      (as defined below).

            

    

    
      	
              5.  

            	
              Merchandising:
      Offshoot or related products utilizing the Portal
  Business.

            

    

    
      	
              6.  

            	
              Billing
      System: Refers to the computer programs and related tools needed to
      process the billing related data (Game Sales, recharging and spending of W
      Coins (as defined below), Billing DB (as defined below) etc.) from the
      global game portal “webzen.com”.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	
              7.  

            	
              Billing DB:
      Refers to all information on the overall process of users recharging their
      W Coins, spending and being reimbursed for W Coins in games serviced on
      the portal at “webzen.com”. The Billing DB refers to information related
      to the process of recharging, spending and reimbursement W Coins, and
      includes age, gender, payment method, number of accounts and total
      playtime in addition to payment information. However, certain personal
      information that needs to be protected is
  excluded.

            

    

    
      	
              8.  

            	
              Website
      Advertisement: Refers to advertisements displayed on the
      website.

            

    

    
      	
              9.  

            	
              “webzen.com”:
      Refers to the global game portal service provided to users through the
      portal page www.webzen.com
      and related pages.

            

    

    
      	
              10.  

            	
               User
      DB: Refers to all information related to game playing and the member
      management of the portal. Member management information includes all
      information necessary to certify and manage members on the portal, i.e.,
      account ID, email address, gender, address, nationality, name, member
      level and others etc. Game play information refers to all information
      needed for a user to play games which is actually recorded on the server,
      for example, character name, face type, appearance, class, level,
      experience, skill tree, stat, owned items and items attached etc. However,
      certain personal information that needs to be protected is
      excluded.

            

    

    
      	
              11.  

            	
              In-Game
      Advertisements: Refers to advertisements displayed in the
      games

            

    

    
      	
              12.  

            	
              Channeling:
      Refers to affiliated operations which take game titles serviced by other
      companies and allow members of “webzen.com” to play said games
      using “webzen.com” ID/PW through the
      “webzen.com”
      website. In return “webzen.com” receives a portion of the sales from such
      games as a fee from other
companies.

            

    

    
      	
              13.  

            	
              Channeling
      Sales: Refers to the income collected as fees from other companies that
      “webzen.com”
      receives through Channeling
services.

            

    

    
      	
              14.  

            	
              Titles of
      Other Companies: Refers to game titles developed by third-parties other
      than the parties to this agreement.

            

    

    
      	
              15.  

            	
              Common Portal
      Services: Refers to services of the global game portal “webzen.com” offered to all portal
      users rather than users of individual game titles such as the main page
      service and general user related page (portal membership sign up,
      withdrawal, customer service pages
etc.).

            

    

    
      	
              16.  

            	
              Portal
      Business: Refers to the global game portal publishing service in which “A”
      and “B” provide game service to the users through
      “webzen.com.”

            

    

    
      	
              17.  

            	
              Portal
      Infrastructure Assets: Refers to the basic assets required to operate the
      Portal Business. The Portal Infrastructure Assets include all User DB and
      Billing DB of  “webzen.com,” the domain address of “webzen.com,”
      the websites that fall under the Common Portal Services and the Billing
      System.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	
              18.  

            	
              W Coins: The
      game money (cyber money) that can be used in all the games serviced by the
      Portal Business and which can be recharged using cash and credit
      cards.

            

    

    

    Article 3
(Operation of the Global TFT)

    
      	
              1.  

            	
              The Portal
      Business is owned and operated jointly by the parties with the detailed
      rights and obligations agreed upon as
follows.

            

    

    
      	
              1  

            	
              The Portal
      Infrastructure Assets are owned jointly by the
  parties.

            

    

    
      	
              2  

            	
              Notwithstanding
      1 above, ownership of the hardware and software purchased individually by
      “A” or “B” using its own funds to operate the Portal Business is held by
      the party that paid for and purchased such hardware and software
      equipment.

            

    

    
      	
              3  

            	
              Notwithstanding
      1 above, the titles owned by “A” and “B” and serviced through the Portal
      Business are owned by the original owner of the
  title.

            

    

    
      	
              4  

            	
              The business
      rights to Titles of Other Companies belong to the party who entered into
      contract with the third party. When both parties have entered into
      contract with the third party jointly regarding Titles by Other Companies,
      the usage rights are allotted to the parties in accordance with the
      percentages stipulated by the relevant
contract.

            

    

    

    
      	
              2.  

            	
              The method of
      operation of the Portal Business is as
follows.

            

    

    
      	
              1  

            	
              The final
      decision rights concerning how to operate individual game title of the
      Portal Business lie with the title owner or user rights holder. Therefore,
      when the Titles of Other Companies is owned jointly by both the parties to
      this agreement, the party with the higher rights percentage holds the
      final decision rights of the game title in
  question.

            

    

    
      	
              2  

            	
              When the
      operation levels of the Portal Business are significantly lower than those
      of similar businesses, the Global Portal Committee can demand revisions
      and the Global Portal TFT must accept such
  demands.

            

    

    

    
      	
              3.  

            	
              A Global
      Portal TFT composed of personnel from both parties will be formed to
      operate the Portal Business and the Global Portal Committee is to be
      installed for making important
decisions.

            

    

    
      	
              4.  

            	
              Each party
      can recommend up to 3 personnel to the Global Portal Committee, which is
      not to exceed a total of 6
personnel.

            

    

    
      	
              5.  

            	
              The important
      decisions that need to be made by the Global Portal Committee are as
      follows.

            

    

    
      	
              1  

            	
              Decision on
      the games to be provided to the Portal
Business.

            

    

    
      	
              2  

            	
              Composition
      of the Global Portal Committee and any changes
  thereof.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
              3  

            	
              Other
      decisions on important items of resolution regarding the operation of the
      Portal Business.

            

    

    
      	
              6.  

            	
              Resolutions
      of the Global Portal Committee requires an attendance of more than half of
      the committee members and majority of the votes of the attending
      members.

            

    

    

    Article 4
(Allotment of Sales and Expenses)

    

    
      	
              1.  

            	
              The sales
      from the Portal Business will be collected in its entirety by “A” and
      divided amongst “A” and “B” in accordance with the standards stipulated in
      Article 5.

            

    

    
      	
              2.  

            	
              The expenses
      accrued with regards to the Portal Business are paid by “A” and then
      settled with “B” in accordance with the standards stipulated in Article
      6.

            

    

    
      	
              3.  

            	
              Contracts/affiliations
      occurring in relation to the Portal Business are conducted in the name of
      “A”. However, in the case of publishing contracts in which titles the
      ownership etc., of which are held by third party companies other than “A”
      or “B” can be conducted independently or jointly by both
      parties.

            

    

    

    Article 5
(Sales)

    

    
      	
              1.  

            	
              All sales
      accrued from the Portal Business are managed through the account in the
      name of “A” to be exclusively used for the Portal Business (bank
      name:       , account
      number:       , currency:
      USD).

            

    

    
      	
              2.  

            	
              “A” pays “B”
      the percentage of sales due to “B” each month in US
    Dollars.

            

    

    
      	
              3.  

            	
              Sales will be
      recognized at the point in which the client uses W Coins and spends W
      Coins for each game. Such sales accrued each month in the portal business
      will be allotted each month. The refunds by users are deducted by each
      game title when allotting the sales
amounts.

            

    

    
      	
              4.  

            	
              When sales
      from the titles of “B” occur, “A” must notify “B” of the sales allocation
      statement calculated in accordance with Annex 1 in writing or through
      e-mail not later than 5 working days before the end of the month following
      the month during which the sales
occurred.

            

    

    
      	
              5.  

            	
              When “B” has
      no objections to the statement mentioned in section 4 of this article, “B”
      shall request payment for the month in question through an invoice based
      on the sales allocation statement to “A” and “A” shall pay the amount in
      question based on this invoice by the end of the following
      month.

            

    

    
      	
              6.  

            	
              When “B” has
      objections to the statement mentioned in section 4 of this article and
      there is an ensuing mutual agreement regarding the payment, “B” sends an
      invoice based on such agreement to “A” to request payment. When there is
      no agreement reached by 10 working days after “A” makes notification of
      the statement, “B” issues an invoice in accordance with the amount
      stipulated by section 4 of this article and requests “A” to make
      payment.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	
              7.  

            	
              After
      receiving request for payment of the sales, “A” must pay the amount in
      question by the end of the month following the month during which sales
      occurred.

            

    

    
      	
              8.  

            	
              Miscalculations
      (calculation adjustments made in accordance with the latter paragraph of
      section 6 of this article included) will be reflected in the settlement of
      the month following the month in which such miscalculation is
      discovered.

            

    

    
      	
              9.  

            	
              When “A” does
      not pay “B” by the date stipulated by this article, a penalty interest
      rate of 5% per annum will be levied, on a daily basis, in addition to the
      obligation to pay the unpaid
amount.

            

    

    
      	
              10.  

            	
              When the
      payment dates stipulated in sections 5 and 8 of this article are public
      holidays, such payment dates are presumed to refer to the first working
      day following the public holiday.

            

    

    

    Article 6
(Expenses)

    
      	
              1.  

            	
              All expenses
      occurring from the Portal Business shall be first settled in the name of
      and paid by “A” at the time of their occurrence and then billed to and
      settled with “B” in accordance with the standards set by this article and
      Annex 1.

            

    

    
      	
              2.  

            	
              The wages of
      the members of the Global Portal TFT are borne by the company to which
      each member respectively belongs.

            

    

    
      	
              3.  

            	
              Requests by
      “A” to “B” for the payment of expenses shall be by quarter (every 3
      months), at the end of each
quarter.

            

    

    
      	
              4.  

            	
              “A” shall
      provide “B” with an invoice and expense allotment data within 10 working
      days after the end of the quarter for which payment expenses was
      requested. In the case of expenses accrued domestically in relation to the
      Portal Business, tax statements are issued to “B” based on the tax
      statements provided to “A” and payment requested in KRW, and in case of
      expenses accrued overseas, payment of the amount in question is requested
      in USD based on the invoice submitted to
“A”.

            

    

    
      	
              5.  

            	
              When there
      are no problems with the invoice and expense allotment data provided by
      “A”, “B” pays the expenses calculated based on the tax statements and
      invoices provided by “A” by the end of the month following the end of each
      quarter.

            

    

    
      	
              6.  

            	
              Sections 6
      through 10 of the previous article are deemed to apply to the settlement
      of expenses.

            

    

    

    Article 7 (Auditing
of the Sales/Expenses Allotment Data)

    
      	
              1.  

            	
              “A” may not unlawfully
      edit or correct information in Portal Business statements and must keep
      the materials related to the calculation and allotment of sales/expenses
      (“Sales/Expenses Allotment Data”) for the duration as required by
      law.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	
              2.  

            	
              During the
      term of this agreement or within 2 years after expiration or termination
      of this agreement and with prior written notice to “A”, “B” can inspect
      and audit the data of “A” on sales, expense and sales/expenses allotment
      directly or through public auditors designated by “B”. The expenses of
      auditing will be borne by “B”, but if the difference between the sales
      allotted and expenses actually paid and such amount that should have been
      allotted or paid shows is more than 10%, the audit expenses will be borne
      by “A”.

            

    

    
      	
              3.  

            	
              If results of
      the audit of section 2 above show that the payments made by “A” to “B” are
      less than they should have been, “A” must immediately pay “B” the unpaid
      amount. In this case, interest of 5% a year should also be paid in
      addition to the unpaid amount.

            

    

    
      	
              4.  

            	
              If results of
      the audit of section 2 above show that the payments made by “A” to “B” are
      more than they should have been, “B” shall immediately return the surplus
      to “A”. In this case an interest rate of 5% a year must be added to the
      surplus.

            

    

    
      	
              5.  

            	
              Sections 3
      and 4 of this article are deemed to apply to cases in which results of the
      audit of section 2 show that “B” has paid more or less expenses than they
      should have.

            

    

    

    Article 8 (Term of
Agreement)

    
      	
              1.  

            	
              The term of
      this agreement is 3 years from the day of this
  agreement.

            

    

    
      	
              2.  

            	
              If a party
      does not express its intention to terminate this agreement by at least one
      month before the day of its expiration, this agreement shall be
      automatically extended by one year.

            

    

    

    Article 9
(Termination or Cancellation of the Agreement)

    
      	
              1.  

            	
              When there is
      a default on obligations or delay of execution by a party, the other party
      can designate a term and notify in writing that such situations be
      remedied, and if no action is taken to remedy the situation during that
      term, that party cam immediately terminate or cancel this
      agreement.

            

    

    
      	
              2.  

            	
              However, in
      the following cases, a party can immediately cancel (terminate) this
      agreement.

            

    

    
      	
              1  

            	
              When issued
      checks or promissory notes do not clear or a party receives disposition
      for failure to pay

            

    

    
      	
              2  

            	
              When a party
      receives seizure, provisional attachment, injunctions, auctions, or other
      forms of forcible execution by a third
party

            

    

    
      	
              3  

            	
              When a party
      goes through or requests bankruptcy, composition, or corporate
      reorganization

            

    

    
      	
              4  

            	
              When a party
      receives an order of cessation or cancellation of operations by the
      governing authorities and it is deemed difficult for this contract to be
      sustained

            

    

    
      	
              5  

            	
              When there is
      a “change of management” during the term of this agreement without prior
      written consent of the other party

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
              3.  

            	
              A party’s
      obligation to pay settlement or bear expenses is still valid even if the
      agreement is terminated or cancelled, but when a party has the right to
      demand compensation from the other party, they can cancel said rights out
      with their obligations to pay settlement or bear
  expenses.

            

    

    

    Article 10 (Effects
of Termination)

    
      	
              1.  

            	
              The parties
      agree to divide the tangible/intangible assets (Common Portal Service
      rights and Portal Infrastructure Assets included) that the parties have
      joint ownership of as of the date of termination of this
      agreement.

            

    

    
      	
              2.  

            	
              However, in
      the case of jointly owned assets that are required for one party to
      independently service games that they own (or hold user rights to) and
      were serviced through the existing portal business such as the Billing DB
      or personal information, such assets are not to be divided but
      continuously owned jointly and each party allowed to enjoy usage within
      the necessary boundaries of usage without limitation, but in the case of
      transferring such assets to a third party, the prior written consent of
      the other party is required.

            

    

    
      	
              3.  

            	
              From the date
      of dividing assets, the Portal Infrastructure Assets may be used by “A”
      and “B” for their respective portals. However, in the case of domain
      address, “B” can specify a domain to replace “webzen.com” and use
      it.

            

    

    
      	
              4.  

            	
              As sections 1
      and 2 of this article only regulate jointly owned assets, they do not
      apply to the ownership of software and hardware purchased by each party
      with their own funds for the operation of the Portal Business” and such
      ownership remains with the relevant party and the other party loses usage
      rights to such assets.

            

    

    
      	
              5.  

            	
              Ownership of
      game titles serviced on the Portal Business returns to the original
      owners.

            

    

    
      	
              6.  

            	
              Notwithstanding
      section 5 of this article, it must be possible for users to access and
      play games, that was offered through “webzen.com” during the six months
      period before the termination of this agreement, through the new portal
      sites of “A” and “B” for 1 year. However, the terms and conditions of
      sales and expense settlement remain the same as with this
      agreement.

            

    

    

    Article 11
(Compensation)

    When damages are
incurred upon a party by defaults on obligations or illegal actions for which a
party is responsible, the responsible party must compensate the other party for
damages.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Article 12
(Confidentiality)

    
      	
              1.  

            	
              The parties
      cannot reveal to third parties (other related businesses and newspapers,
      TV, internet or media) or use for other purposes the technical and
      business secrets acquired through the contracting and execution of this
      agreement for 3 years after expiration of this agreement without the prior
      written consent of the other party and must strictly abide by other
      obligations of confidentiality.

            

    

    
      	
              2.  

            	
              When the
      violation of the previous section leads to infringement of rights of “A”
      or “B”, the party that suffered damages is entitled to demand
      compensation, and the party that caused the damages must
      comply.

            

    

    

    Article 13
(Prohibition of the Transfer of Rights, Obligations)

    Unless the other
party gives prior written consent, a party cannot dispose of the rights or
obligations acquired through this agreement to a third party through transfer,
succession, providing of collateral etc.

    

    Article 14
(Resolution of Conflicts)

    When a clash of
opinions or conflicts arise with relation to this agreement, efforts must be
made to peacefully resolve them through agreement foremost, and if that is not
possible legal proceedings will be initiated through the Seoul Central District
Court as the court of jurisdiction.

    

    For the purpose of
evidencing this contract and its contents, 2 copies of this lease contract are
to be drafted, signed, and sealed, and “A” and “B” shall each keep a
copy.

    

    August 1,
2009

    

    
      	
              “A”

              WEBZEN
      Inc.

              467-6
      Dogok-dong, Gangnam-gu, Seoul

              9F Daelim
      Acrotel

              Representative
      Director Kim, Chang Keun

            	
              “B”

              NHN GAMES
      CO., LTD.

              Jungja-dong,
      Bundang-gu, Sungnam-si, Gyeonggi-do

              6F 102 Ipark
      Bundang

              Representative
      Director Kim, Byung Gwan

            

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    Annex
1

    

    I.
Sales

    

    
      	
              1.  

            	
              “Common Portal
      Services” Related Sales

            

    

    

    
      	
              Category

            	
              Standard of
      Sales Allotment

            	
              Example of
      Item

            
	
              Sales from
      Advertisements in the Portal Main Page and Common Service
      Pages

            	
              Allotted to
      “A” and “B” 5:5

            	
              Sales from
      banner ads on the main page of the portal, advertisement sales from the
      membership subscription page, email advertisement sales
    etc.

            
	
              Game
      Channeling Sales

            	
              Allotted to
      “A” and “B” 5:5

            	
              Channeling
      sales

            
	
              Portal Common
      Merchandising

            	
              The sales of
      merchandising using the “webzen.com” portal are allotted
      to “A” and “B” 5:5

            	
              Sales of
      merchandising products using portal logos
etc.

            

    

    

    
      	
              2.  

            	
              Sales of
      Individual Game Titles

            

    

    
      	
              Category

            	
              Standard of
      Sales Allotment

            	
              Example of
      Item

            
	
              Game
      Sales

            	
              Sales are
      assigned to each owner/user rights holder of the game in question as of
      the time of W-Coin consumption for individual games

            	
              Partial
      charged item sales, monthly flat rate game sales

            
	
              Advertisement
      Sales per Game

            	
              1. The
      advertisement sales accrued from the webpage of each game title are
      assigned to the owner/user rights holder of the game in
      question

              2. The
      in-game advertisement sales accrued each game title are assigned to the
      owner/user rights holder of the game in question

            	
              Webpage ads,
      in-game ads

            
	
              Individual
      Title Merchandising Sales

            	
              The sales
      from merchandising using the characters of individual games etc., are
      assigned to the owner/users right holder of each individual
      title.

            	
              Merchandising
      product sales.

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
 

    
      	
              3.  

            	
              Publishing
      Sales from “Titles of Other
Companies”

            

    

    

    
      	
              Category

            	
              Standard of
      Sales Allotment

            	
              Example of
      Item

            
	
              Game Sales
      from “Titles of Other Companies”

            	
              Allotted to
      “A” and “B” respectively in accordance with the usage rights percentages
      of the publishing game titles in question

            	 
      

    

    

    
      	
              4.  

            	
              Advance
      Profits of Payments Etc.

            

    

    
      	
              Category

            	
              Standard of
      Sales Allotment

            	
              Example of
      Item

            
	
              Interest on
      Advances

            	
              All interest
      on advances are assigned to “A”

            	
              Interest on
      advances

            

    

    

    II.
Expenses

    

    
      	
              1.  

            	
              Expenses
      Related to “Common Portal Services”

            

    

    
      	
              Category
      (Sales/Expenses)

            	
              Standard of
      Expense Allotment

            	
              Example of
      Item

            
	
              Web
      Planning/Design/Development

            	
              Borne 100% by
      “A” using web planning/design/development personnel of “A” or
      outsourcing

            	 
      
	
              Systems
      Operations

            	
              Borne 100% by
      “A” using system operations personnel of “A” or
outsourcing

            	 
      
	
              Hardware,
      Software

            	
              Purchased by
      “A”, 100% of expenses borne by ”A”

            	 
      
	
              Business,
      Analysis Personnel

            	
              Employed and
      paid for 100% by “B”

            	 
      
	
              Web
      QA

            	
              Borne 100% by
      “B” using web QA personnel of “B” or outsourcing

            	 
      
	
              Common Portal
      Operations/CS and Lines Expenses

            	
              Borne by “A”
      and “B”, 5:5

            	 
      
	
              Common Portal
      Marketing Expenses

            	
              Borne by “A”
      and “B”, 5:5

            	 
      

    

    

    
      	
              2.  

            	
              Individual
      Game Title Service Expense Bearing
Standard

            

    

    
      	
              Category
      (Sales/Expenses)

            	
              Standard of
      Expense Allotment

            	
              Example of
      Item

            
	
              Web
      Planning/Design/Development of Web Pages of Individual Game
      Titles

            	
              Borne 100% by
      the owner of each individual game title. However, in the case of Titles of
      Other Companies, borne by “A” and “B” respectively according to their user
      rights percentages

            	 
      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     

    
      	
              Hardware and
      Software for the Service/Operation of Individual Game
    Titles

            	
              Borne 100% by
      the owner of each individual game title. However, in the case of Titles of
      Other Companies, borne by “A” and “B” respectively according to their user
      rights percentages

            	 
      
	
              Lines
      Expenses for the Service/Operation of Individual Game
    Titles

            	
              Borne 100% by
      the owner of each individual game title. However, in the case of Titles of
      Other Companies, borne by “A” and “B” respectively according to their user
      rights percentages

            	 
      
	
              Marketing
      Expenses of Individual Game Titles

            	
              Borne 100% by
      the owner of each individual game title. However, in the case of Titles of
      Other Companies, borne by “A” and “B” respectively according to their user
      rights percentages

            	 
      
	
              Business/Analysis,
      Operation/CS of Individual Games

            	
              Borne 100% by
      the owner of each individual game title. However, in the case of Titles of
      Other Companies, borne by “A” and “B” respectively according to their user
      rights percentages

            	 
      
	
              Billing
      Fees

            	
              1. Borne 100%
      by the owner of each individual game title. However, in the case of Titles
      of Other Companies, borne by “A” and “B” respectively according to their
      user rights percentages

              2. In cases
      in which the billing fees for each title cannot be clearly separated,
      expenses for billing fees are allotted to the owner of each title
      according to the percentage of each title of the entire payment
      amountsExhibit
4.13

     

    
      

      INTERNET
GAME DISTRIBUTION

      AND

      SERVICE
AGREEMENT

      (R2
– Taiwan)

      

      THIS
INTERNET GAME DISTRIBUTION AND SERVICE AGREEMENT (“Agreement”), is made and
entered into on this 1st day
of December, 2009 (“Effective Date”) between:

      

      NHN Games Corp. a corporation
established under the laws of Korea with its registered office at 6Fl., 102Dong,
I-Park Bundang 9 Jeongja-dong, Bundang-gu, Seongnam City, Gyeonggi,
KOREA(“Licensor”); and

      

      Webzen Taiwan Inc., a
corporation established under the laws of R.O.C with its registered office at
7F, No. 176, Jian 1st Rd., Jhonghe City, Taipei County 23553, Taiwan, the Republic of China
(“Licensee”).

       

      Licensor
and Licensee shall be referred to individually as a “Party” and collectively as
the “Parties.”

      

      RECITALS:

      

      WHEREAS, Licensor possesses
exclusive rights to the Game (defined hereafter) and agrees to grant to Licensee
exclusive license (i) to distribute and sell the Game in the Territory (defined
hereafter) and (ii) to provide certain Services (defined hereafter) to end users
located in the Territory; and

      

      WHEREAS, Licensee desires to
enter into an exclusive license agreement with Licensor pursuant to which
Licensee will distribute and market the Game in the Territory specified below;
and

      

      NOW, THEREFORE, in
consideration of the mutual covenants and other terms and conditions contained
herein, and other good and valuable consideration, the sufficiency and receipt
of which are hereby acknowledged, the Parties hereby agree as
follows:

      

      Article
1

      Definitions

      

      In this
Agreement, unless the context otherwise requires, the following terms shall have
the following meanings:

      
        

        
          	
                  1.1

                	
                  “Advertising
      Revenue” means any revenue actually collected from advertisers with
      respect to advertisements included inside the play area of the Game
      (including product placement, loading and log-in/log-out pages) in the
      Territory, but shall not include revenue arising from advertisements
      posted on web pages for the Game but outside the play area of the
      Game. Advertising
      Revenue shall not include any fees paid to third party agents in
      connection with such advertising business, and discounts
  

                

        

        
          
             

            
              
                 

              

              
                 

                
                  

                

              

              
                 

              

            

             

            
              	
                       

                    	
                      etc
      payable to the third parties.

                    

            

             

          

        

      

      
        	
                1.2

              	
                “Billing
      Data” shall mean a complete collection of data relating exclusively to the
      billing and payment information of the
Game.

              

      

      

      
        	
                1.3

              	
                “Business
      Day” shall mean any day other than a Saturday, Sunday or a legal holiday
      in Taiwan or in Korea.

              

      

      

      
        	
                1.4

              	
                “Client
      Software” shall mean the portion of the software for the Game, in object
      code form, distributed to end users to enable them to access to and use
      the Game.

              

      

      

      
        	
                1.5

              	
                “Commercial
      Launch Date” shall mean the date upon which Licensee begins charging fees
      for use of the Game in any one of the jurisdictions within the
      Territory.

              

      

      

      
        	
                1.6

              	
                “Confidential
      Information” shall mean all materials, know-how, software or other
      information including, but not limited to, proprietary information and
      materials regarding a Party’s technology, products, business information
      or objectives, including the software for the Game and the Licensed
      Materials under this Agreement, which is designated as confidential in
      writing by the providing Party or which is the type that is customarily
      considered to be confidential information by persons engaged in similar
      activities.

              

      

      

      
        	
                1.7

              	
                “Externally-Caused
      Situation” shall mean any defect, bug, malfunction or other similar
      situation relating to the Game or the Software, that is caused, directly
      or indirectly, in part or wholly, by any external factor(s), including but
      not limited to the event of the Hacking and other type(s) of hacking and
      intentional act(s) of a third party, if
any.

              

      

      

      
        	
                1.8

              	
                “Game”
      shall mean the Internet game known as “R2”, developed and owned by
      Licensor, which can be played by an end user with other end users by
      installing the Client Software onto such end users’ computers and then
      accessing the Server Software via the Internet. Any subtitled version,
      series or Sequel to the Game which may be developed or distributed by
      Licensors after the execution of this Agreement shall be clearly
      excluded from
      the scope of this Agreement. The Game is licensed hereunder to Licensee
      and it is to be commercially released by Licensee simultaneously in the
      Territory in the Service Language
only.

              

      

      

      
        	
                1.9

              	
                “Hacking”
      shall mean any intentional attempts or acts of third parties to gain
      access to the Game illegally or without authorization of Licensee. Hacking
      may cause abnormal situations within the Game, including but not limited
      to, abnormal creation of certain items, abnormal increasing play level,
      abnormal modification of various attributes of the Game,
    etc.

              

      

      

      
        	
                1.10

              	
                “Intellectual
      Property” shall mean all patents, designs, utility models, copyrights,
      know-how, trade secrets, trademarks, service mark, trade dress and any
      other intellectual property rights in or related to the Game or the
      Licensed Materials.

              

      

      

      
        	
                1.11

              	
                “Licensed
      Materials” shall mean the Game in its original and/or localized form and
      any part thereof, including the Game engine, Client and Server Software,
      tools, know-how, data, test result, layouts, artwork, processes, scripts,
      concepts, other information 

              

      

      
         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                   

                	
                  on
      or in relation to the Game, and the contents of any documentation provided
      by Licensors hereunder.

                

        

         

      

      
        	
                1.12

              	
                “Localization”
      shall mean the translation of the Game and all Game software files as well
      as documents into the Service
Language.

              

      

       

      
        	
                1.13

              	
                “Package
      Sales Revenue” shall mean any and all sales revenue or other sums realized
      by Licensee and/or its related parties arising from or relating to the
      sale and distribution of the Customer Part in physical form excluding any
      electronic distribution to customers and end users in the Territory.
      Package Sales Revenue shall exclude applicable value added taxes and any
      fees actually paid by Licensee to third parties for distribution or other
      commercially reasonable costs relating to the sales of the Customer Part.
      The Parties hereby agree that such excluded fees will not exceed (30%) of
      the Package Sales Revenue.

              

      

      

      
        	
                1.14

              	
                “Revenue”
      shall mean all revenue recognized by Licensee that is generated from the
      sale, distribution and provision of the Game including game points that
      are purchased or recharged offline by means of prepaid card purchase or
      other income-generating activities relating to the Game in the Territory
      excluding any fees actually paid by Licensee to third parties for
      distribution which shall not exceed (30%) of the Revenue. However, Revenue
      shall not include (i) sale of the copies
      of Client Software packaged with gifts, and manuals as the case may be
      with prior mutual agreement by the Parties (“Package Sales
      Revenue”), or (ii) Advertising
Revenue.

              

      

      
        

        
          	
                  1.15

                	
                  “Sequel” means any new
      massively-multiplayer online game that (i) is based on the main story and
      characters of the Game or the Game and commercially launched as a sequel,
      prequel or series of the Game, (ii) reflects a substantially different
      gameplay than the Game, (iii) does not interoperate with the existing Game
      and is capable of being played as a massively-multiplayer online PC-based
      game separate and apart from the Game, and (iv) is commercially launched
      as a separate massively-multiplayer online PC-based
  game.

                

        

         

      

      
        	
                1.16

              	
                “Services”
      shall mean those services related to the server administration and
      management of the Game, technical support assistance to end users, billing
      to end users, marketing of the Game and any other activities as stipulated
      in, and contemplated under, this
Agreement.

              

      

      

      
        	
                1.17

              	
                “Service
      Language” shall mean traditional
Chinese.

              

      

      

      
        	
                1.18

              	
                “Servers”
      shall mean the servers established, installed and operated by Licensee
      within the Territory only for the service of Game to end users in the
      Territory.

              

      

      

      
        	
                1.19

              	
                “Server
      Software” shall mean the system software installed in the Internet server
      of Licensee as the case may be, in order to create, operate and maintain
      the system for enabling end users / customers to play the Game
      online.

              

      

      

      
        	
                1.20

              	
                “Software”
      shall mean both the Server Software and Client
  Software.

              

      

      

      
        	
                1.21

              	
                “Subscribers”
      shall mean the customers and/or end users of the Game who use the
      

              

      

      
         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                   

                	
                  Game
      after paying a fee for such usage, and those customers and/or end users
      who purchase package games and/or in-game items within the Game.
      Subscribers shall include both individual users and commercial users such
      as internet cafes.

                

        

         

      

      
        	
                1.22

              	
                “Subscription
      Fees” shall mean the fees paid by the Subscribers for the use of the Game
      itself, or the fees paid for purchasing package games and/or in-game items
      in relation to the Game.

              

      

      

      
        	
                1.23

              	
                “Territory”
      shall mean all parts of Taiwan, Macao and Hong Kong. Any access to servers
      or other acts made anywhere else in the world for the purpose of using the
      Game shall not be deemed to be taken place in the Territory. Territory can
      be revised only by a writing signed by the
  Parties.

              

      

      

      Article
2

      Grant
of License

      

      
        	
                2.1

              	
                Licensor
      hereby grants, during the term of this Agreement, to Licensee, subject to
      the terms and conditions of this Agreement, an exclusive,
      non-transferable, non-assignable, non-sublicensable and royalty-bearing
      license to service, use, promote, distribute, operate, copy, display and
      market the Game within the
Territory.

              

      

      

      
        	
                2.2

              	
                Any
      service, use, promotion, distribution and marketing of the Game outside
      the Territory and any use of the Licensed Materials for any purpose other
      than performance under this Agreement are strictly
    prohibited.

              

      

      

      
        	
                2.3

              	
                For
      avoidance of any doubt, Licensee shall not allow any access from outside
      of the Territory to Servers. Licensee shall make its best efforts to block
      any access to Servers or to Server Program and any acts made from the
      internet protocol addresses located outside of the
    Territory.

              

      

      

      
        	
                2.4

              	
                The
      service of the Game by Licensee shall be made only through the on-line
      method (excluding mobile access) using the Servers.  In case
      Licensee wishes to service the Game by other methods in addition to the
      on-line method, Licensee shall obtain prior written approval by Licensor
      for the servicing by other methods.

              

      

      
        

        
          	
                  2.5

                	
                  The
      foregoing is the complete and exhaustive list of rights granted hereunder
      by Licensor to Licensee and, therefore, Licensee may not engage in any act
      in relation to the Game and/or the Licensed Products, other than those
      acts that are specifically described above and those expressly permitted
      by Licensor in writing. Any and all rights not specifically described
      herein as those belonging to Licensee such as rights for character
      business shall be reserved to
Licensor.

                

        

         

        Article
3

      

      Delivery
of Game

      

      
        	
                3.1

              	
                Subject
      to the terms and conditions of this Agreement, Licensor shall provide
      Licensee the full and completed Service Language version of the game
      software. Notwithstanding the foregoing, Licensee shall bear any and all
      related costs for Localization.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                3.2

              	
                For
      initial set-up, Licensor shall deliver master copies of the Game to
      Licensee within reasonable time upon execution of this Agreement. Once
      Licensee receives such copies from Licensor, Licensee shall perform its
      review and test promptly and inform Licensor of any defect within thirty
      (30) Business Days after receipt thereof. If Licensor does not receive any
      notice of defect from Licensee within such thirty (30) Business Days,
      Licensor shall consider Licensee has accepted the master copies as
      suitable for initial set-up.

              

      

      

      
        	
                3.3

              	
                The
      Game shall be serviced in the Territory only in the manner provided under
      this Agreement. Licensee is strictly prohibited from any reverse
      assembling, de-compiling, reverse engineering or other attempting to
      recreate the source code or extracting any trade secrets of, and
      modification, amendment or revision of any part of the original Game, Game
      Software and Delivery Materials including the name of title and characters
      of the Game, without prior written approval from
  Licensor.

              

      

      

      
        	
                3.4

              	
                Licensee
      shall provide and apply anti-hacking solution to the Software for any
      reason agreed and acknowledged through a written consent between the
      Parties, the cost and expense required thereto shall be solely borne by
      the Licensee.

              

      

      

      Article
4

      Game
Servicing

      

      
        	
                4.1

              	
                During
      the term of this Agreement, Licensee shall diligently perform the
      following functions at its sole cost and expense in order to provide the
      Services in the Territory.

              

      

      
        

        
          	
                   

                	
                  
                    (i)
      Licensee shall maintain a business presence in the Territory and shall
      provide support, whether it is technical or administrative, to end users
      within the Territory throughout the term of this
      Agreement.

                  

                

        

        
          

          
            	
                     

                  	
                    
                      (ii)
      Licensee, at its sole cost, shall prepare a billing system before the
      Commercial Launch
      Date and provide computer server equipment connected to the Internet with
      sufficient
      processing speed and power, as well as telecommunications bandwidth, and
      shall ensure that the foregoing computer server equipment is generally
      accessible at alltimes to and by the end users via the Internet in order
      to play the Game. Licensor shall
      be responsible for commercially reasonable technical support on
      integrating Licensee’s
      billing system to the
Software.

                    

                  

          

          
            

            
              	
                       

                    	
                      
                        (iii)
      Licensee shall have the exclusive right to provide the Services and
      installation, operation,
      use, management and maintenance of the Game and the Software within the
      Territory.

                      

                    

            

            
              

              
                	
                        4.2

                      	
                        During
      the term of this Agreement, Licensor shall make commercially reasonable
      efforts to assist Licensee on the Game servicing including software
      installation and set-up, maintenance support, patch updates in connection
      with the Game, the Game Software and Localization. At the request of
      Licensee, Licensor shall provide remote, or if deemed necessary by
      Licensor, on-site technical or operational support, provided all relevant
      costs and expenses for dispatch of Licensor’s personnel shall be borne by
      Licensee according to Article 4.6.

                      

              

              
                
                  

                  
                    	
                            4.3

                          	
                            Licensor
      shall provide Licensee, at no additional costs to Licensee, with all
      updates, 

                          

                  

                  
                    
                      
                        
                           

                          
                            
                               

                            

                            
                               

                              
                                

                              

                            

                            
                               

                            

                          

                           

                          
                            	
                                     

                                  	
                                    upgrades,
      revisions patches, enhancements and/or improvements to the Software (the
      “Updates”) when such Updates on the relevant servers in , or in the event
      that such Updates are not installed on the servers in China, as soon as
      such Updates become available. Licensee shall provide for the Localization
      of the Updates, at the sole expense of Licensee, and Licensor shall
      provide Licensee with commercially reasonable technical assistance, at the
      expense of Licensor, to install the Updates on the Server
      system.

                                  

                          

                          
                            
                              
                                 

                              

                            

                          

                        

                        
                          	
                                  4.4

                                	
                                  Licensor
      upon the request of Licensee, may determine to dispatch its personnel to
      Licensee for installation of Servers, training of Licensee’s personnel or
      any other technical assistance, and such dispatch shall be limited to
      twice in total if such assistance can be provided remotely by Licensor
      with the same degree of quality and
effect.

                                

                        

                         

                      

                    

                  

                

              

            

          

        

      

      
        	
                4.5

              	
                During
      the term of this Agreement, Licensor shall receive Licensee’s personnel in
      their offices in Korea for training with respect to the installation and
      service of the Game and the installation, maintenance and operation of the
      Servers, provided that all relevant costs and expenses for Licensee’s
      personnel under this Article 4.5 shall be borne by
    Licensee.

              

      

      

      
        	
                4.6

              	
                Licensee shall pay for the actual costs including
      the lodging, meals, and airfare of any personnel of Licensor (including
      Licensor’s own interpreter, if the case may be), who travels to the
      Territory after the launch of Commercial Service to provide technical
      assistance for the Game pursuant to this Article; provided, however, that
      the actual costs including the lodging, meals and airfare of any
      Licensor’s personnel who travels to Licensee’s territory for less than two
      weeks without Licensee’s request shall be borne by Licensor.
      Notwithstanding the foregoing, all costs and expenses related to travel
      made by Licensor’s personnel on or before the launch of Commercial Service
      to the Territory shall be borne by Licensor, and such travel shall be
      limited to twice in total if Licensor determines that technical assistance
      can be provided remotely by Licensor with the same degree of quality and
      effect. In any event Licensor at its sole discretion may decide to
      remotely provide technical support upon Licensee’s request for dispatch of
      Licensor personnel.

              

      

      

      
        	
                4.7

              	
                Any
      further assistance may be rendered by Licensor upon mutual written
      agreement of the Parties.

              

      

      

      
        	
                4.8

              	
                Each
      Party shall be fully responsible for the behaviour and activities
      performed by its own employees and personnel during their stay at the
      other Party’s facilities.

              

      

      

      Article
5

      Defect
& Correction

      

      
        	
                5.1

              	
                In
      the event there is any bug or other flaw that impairs the functionary of
      the Game is found, the respective responsible personnel of Licensor and
      Licensee shall promptly cooperate to take necessary actions to cure such
      defects.

              

      

      

      
        	
                5.2

              	
                The
      Parties shall bear its own costs and expenses incurred in curing such bug
      or other 

              

      

      
         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                   

                	
                  flaw
      subject only to the Article 4.6 above regarding dispatch of personnel and
      the Article 10.9 regarding costs/ expenses for any legal actions or
      measures enforced within the Territory unless the problem is due to cause
      solely attributable to one Party in mutual determination of the Parties,
      in which case the Party at fault shall bear all the costs and
      expenses.

                

        

         

      

      
        	
                5.3

              	
                In
      case any Hacking and/or other intentional acts of third parties is
      reported in writing to Licensor by Licensee, under the condition that
      Licensee can reproduce and has actually reproduced the actual situation of
      such Hacking (the “Hacking Reproduction”) that occurred previously,
      Licensor shall use its best efforts to test and confirm the reported
      Hacking and provide a plan with a view to correct and fix the Hacking
      problem. Licensee shall also use its best efforts to correct and fix the
      Hacking problem along with Licensor. Notwithstanding any provisions to the
      contrary and for avoidance of any doubt, Licensor and Licensee shall not
      be responsible for any Externally-Caused Situations in any way if they are
      not the cause of such Externally-Caused Situations and if they have made
      good faith efforts to correct, fix and resolve any such situation, in
      which case it shall be deemed as an event of Force Majeure as set forth in
      Article 17.

              

      

      

      Article
6

      Payment

      

      
        	
                6.1

              	
                In
      consideration of the license and other rights granted to Licensee
      hereunder and the technical assistance and support to be provided in
      connection with the localization of the Game, Licensee will pay to
      Licensor the following payments in accordance with this Article
      6.

              

      

       

      
        	
                6.2 

              	
                Royalty
      Payments shall be made by Licensee to Licensor as
  follows:

              

      

      
        

        
          	
                   

                	
                  
                    (i)
      Running Royalty equivalent to 40% of the Revenue shall be paid to Licensor
      (“Monthly Running
Royalties.”)

                  

                

        

        
          
            
              

              
                	
                         

                      	
                        
                          (ii)
      Within ten (10) Business Days after the end of each month during the Term
      of this Agreement, Licensee shall furnish Licensor with a copy of a
      royalty report (the “Royalty Report”) confirmed by the chief financial
      officer of the Licensee. The Royalty Report shall specify the number of
      on-line players and Subscribers for the preceding month, and the Running
      Royalties to be paid to the Licensor hereunder with respect to such prior
      month.  Within the end of the following month, Licensee shall
      send the Running Royalties determined due for the preceding month as
      evidenced in the Royalty Report converted into U.S. dollars on the basis
      of the exchange rates on the date of wire transfer at the transferring out
      bank by bank transfer to the bank account designated by the Licensor for
      such purpose. The Licensee shall pay interest of ten percent (10%) per
      annum in case there is any unpaid royalty
      payment.

                        

                      

              

              
                
                   

                  
                    	
                            6.3

                          	
                            Royalty
      Payments for Package Sales Revenue.

                          

                  

                  
                    
                      

                      
                        	
                                 

                              	
                                
                                  (i)
      In
      addition to other payments under this Agreement Licensee shall pay
      Licensor forty percent (40%) of monthly Package Sales Revenue (“Package
      Royalties.”)

                                

                              

                      

                      
                        
                          
                             

                            
                              
                                 

                              

                              
                                 

                                
                                  

                                

                              

                              
                                 

                              

                            

                             

                            
                              	
                                       

                                    	
                                      
                                        (ii)
      Notwithstanding
      the foregoing, any package of the Client Software with retail price of
      fifty (50) New Taiwan Dollars or less per package shall be considered as
      mere promotional and not be subjected to Package Royalties. Licensee may
      deduct number of such promotional packages from the calculation of Package
      Royalties.

                                      

                                    

                            

                            
                              
                                
                                   

                                  
                                    	
                                             

                                          	
                                            
                                              (iii)
      Within ten (10) Business Days after the end of each month during the Term
      of this Agreement, Licensee shall furnish Licensor with a copy of a
      royalty report (the “Package Royalty Report”) confirmed by the chief
      financial officer of the Licensee. The Package Royalty Report shall
      specify the number of both promotional and non-promotional packages sold
      and the number of purchased Subscribers for the preceding month,
      applicable value added taxes and any fees actually paid by Licensee to
      third parties for distribution which shall not exceed 30% of the Package
      Sales Revenue or other commercially reasonable production costs relating
      to the sales of the Customer Part as mutually agreed by the Parties as
      well as the package running royalties to be paid to the Licensor hereunder
      with respect to such prior month.  Within the end of the
      following month, Licensee shall send the Package Running Royalties
      determined due for the preceding month as evidenced in the Royalty Report
      converted into U.S. dollars on the basis of the exchange rates on the date
      of wire transfer at the transferring out bank by bank transfer to the bank
      account designated by the Licensor for such purpose. The Licensee shall
      pay interest of ten percent (10%) per annum in case there is any unpaid
      royalty payment.

                                            

                                          

                                  

                                  
                                    
                                      
                                        

                                        
                                          	
                                                  6.4

                                                	
                                                  Advertising
      Revenue and Report.

                                                

                                        

                                        
                                          

                                          
                                            	
                                                     

                                                  	
                                                    In
      addition to other payments under this Agreement Licensee shall pay
      Licensor forty percent (40%) of monthly Advertising
    Revenue.

                                                  

                                          

                                          
                                             

                                            
                                              	
                                                       

                                                    	
                                                      
                                                        (i)
      Licensee
      shall provide to Licensor a statement (the “Advertising Revenue
      Statement”) specifying
      the exact amount of Advertising Revenue generated each month within thirty
      (30)
      Business Days of the end of the particular month during the Term of this
      Agreement. Licensor shall provide Licensee with an invoice for a given
      month in the amount of the Advertising Fees set forth in the relevant
      Advertising Revenue
  Statement.

                                                      

                                                    

                                            

                                            
                                              
                                                
                                                  
                                                     

                                                    
                                                      	
                                                               

                                                            	
                                                              
                                                                (ii)
      All
      payments of Advertising Fees (the “Advertising Payments”) shall be
      computed by Licensee on a monthly basis, and shall be due and payable by
      wire transfer to a bank account designated by Licensor (in U.S. dollars in
      immediately available funds) within thirty (30) Business Days after
      receipt of the Licensor invoice in accordance with Article 6.3(i). The
      amount of an Advertising Payment for a given month shall be converted into
      U.S. dollars on the basis of the exchange rates on the date of wire
      transfer at the transferring out
  bank..

                                                              

                                                            

                                                    

                                                    
                                                      
                                                        
                                                           

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

      
        	
                6.5

              	
                If
      Licensee obtains any other revenue from or in conjunction with its
      operation or licensing of the Game other than as reflected in Revenue,
      Package Sales Revenue or Advertising Revenue, such revenue will be
      promptly disclosed to Licensor and the Parties will discuss and agree upon
      an equitable amount to be paid to Licensor from such other revenue which
      will be memorialized in a written amendment to this
    Agreement.

              

      

      

      
        	
                6.6

              	
                Notwithstanding
      the foregoing, in the event any withholding tax is imposed by the
      competent tax authority on Licensor’s income under this Agreement,
      Licensee shall 

              

      

      
         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                   

                	
                  deduct
      and pay such withholding tax on behalf of Licensor from any payments due
      hereunder, provided that Licensee supplies Licensor with appropriate
      official documentation enabling Licensor to claim any credit from its tax
      authorities.

                

        

         

      

      
        	
                6.7

              	
                Licensor
      shall have the right to review financial documentation which would only
      related to the Running Royalty and to access to the Licensee’s billing
      system of the Game accompanying with the employees of the Licensee,
      provided that such review and access shall be subject to the seven (7)
      Business Days written prior notice to Licensee.  Any information
      known and/or acquired from such review and access shall be treated as
      confidential information that is proprietary to
  Licensee.

              

      

      

      Article
7

      Report
& Audit

      

      
        	
                7.1

              	
                Licensee,
      upon Licensor’s request, shall provide Licensor with all the information
      on the development of its business in relation to the Game during the Term
      of this Agreement.

              

      

      
        

        
          	
                  7.2

                	
                  Billing
      Access:  Licensee shall develop and provide prior to the
      Commercial Launch Date a webpage for Licensor to have access to real time
      Subscriber numbers including concurrent Subscribers numbers and Subscriber
      Billing Data which information shall not be belated more than twenty four
      (24) hours. Licensor shall otherwise, have the right to access Licensee’s
      billing system and other billing related documents and information. In any
      event, Licensee shall cooperate in order to provide Licensor with an
      efficient and clear access to Licensee’s billing
  system.

                

        

         

      

      
        	
                7.3

              	
                Licensee
      shall keep all of its record, contractual and accounting documents and
      company documents in relation to its business and activities under this
      Agreement in its offices, during the term of this Agreement and for two
      (2) years after the expiration or termination of this
      Agreement.

              

      

      

      
        	
                7.4

              	
                During
      the term of this Agreement and two (2) years after the expiration or
      termination thereof,
      Licensor may by itself or through an accountant designated by Licensor
      investigate and audit all of the company documents of Licensee with
      respect to its Game business. For this purpose, Licensor may request
      Licensee to produce the relevant documents, and may visit Licensee’s
      office and make copies of Licensee’s documents. Licensee shall provide all
      assistance and co-operation required by Licensors for such investigation
      and audit.

              

      

      

      
        	
                7.5

              	
                All
      expenses incurred for such investigation and audit by the Article 7.3
      above will be borne
      by Licensor unless such investigation and audit reveals an underpayment by
      greater
      than three percent (3%) of the amounts
      due to Licensor hereunder, in which case
      Licensee hereby acknowledges and agrees such underpayment will
      be considered evidence of bad faith and that it will bear all
      expenses for such investigation and audit and will also promptly pay to
      Licensor the unpaid amount with the default interest at the rate of twelve
      per cent (10%) per annum from
      the date such payment is due until the date such payment is actually made
      to Licensor.

              

      

      

      Article
8

      Marketing

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                8.1

              	
                Licensee
      shall use its best efforts to advertise, promote and perform marketing
      activities on the Game in the Territory by, among other things, providing
      the Services and generally disseminating information regarding the
      Game.

              

      

      

      
        	
                8.2

              	
                Licensee
      shall develop, at its sole cost and expense, and provide to Licensor a
      quarterly marketing plan for promoting the Game and the implementing the
      Services in the Territory (the “Marketing
  Plan”).

              

      

      

      
        	
                8.3

              	
                Licensor
      will provide Licensee with samples of the marketing and promotional
      materials for the Game which have been or will be produced and used by
      Licensor during the term of this
Agreement.

              

      

      
        

        
          	
                  8.4

                	All of the copyright on the marketing and advertising materials
      produced or used by Licensee on the Game (“Advertising Materials”) shall
      be exclusively owned by Licensor, and Licensee shall not use any
      Advertising Materials in a manner outside the scope of this
      Agreement.  For the effectiveness of this provision, Licensee
      hereby assigns all of its right on such Advertising Materials to
      Licensor. Licensee shall
      provide to Licensor copies of Advertising Materials at the request of
      Licensor for prior review, and Licensee shall not release or otherwise use
      such Advertising Materials upon Licensor’s
disapproval.

        

        
           

          
            	
                    8.5

                  	Licensor will provide its product roadmap and product expansion plan
      within thirty
      (30) Business Days of the effective day. And the future yearly product
      roadmap
      and product expansion plan shall be provided to Licensee on the first week
      of every year. Licensor shall keep Licensee updated for all the plan
      and  roadmap change.

          

           

        

      

      Article
9

      Other
Obligation

      

      
        	
                9.1

              	
                Licensee
      shall exert its best efforts to supply, distribute, market, promote and
      sell the Game in the Territory.

              

      

      

      
        	
                9.2

              	
                Licensee
      shall be solely responsible for service, use, promotion, distribution and
      marketing of the Game in the Territory, and Licensor shall not be
      responsible for any of such activities unless stipulated otherwise in this
      Agreement.

              

      

      

      
        	
                9.3

              	
                Licensee
      shall provide full and comprehensive technical support to end users to
      assist in their use of the Game, including but not limited to Licensee’s
      maintaining 24-hour technical contact window, on-line customer services,
      sufficient outbound bandwidth and circuits for operating business under
      this Agreement, and game servers required for on-line game
      operation.

              

      

      

      
        	
                9.4

              	
                Licensee
      shall conform to all laws and regulations of the Territory in its service,
      use, promotion, distribution and marketing of the Game in the
      Territory.

              

      

      

      Article
10

      Intellectual
Property

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                10.1

              	
                The
      Licensed Materials and all of the Intellectual Property rights relating
      thereto shall be exclusively owned by Licensor, and this Agreement shall
      not grant Licensee or permit Licensee to exercise any right or license on
      the Intellectual Property except for the license granted under this
      Agreement. Licensee shall not obtain or try to obtain any registered
      industrial property or copyright on any of the Intellectual Property of
      Licensor regardless of the territory and exploitation
  area.

              

      

      
         

        
          	
                  10.2

                	
                  
                    For
      the avoidance of doubt, all Intellectual Property and other proprietary
      rights in the Game and/or the Licensed Materials shall incorporate any
      updates, upgrades, adaptation, variation, modification, localization and
      translation into Traditional Chinese, and/or derivation of the Game and/or
      the Licensed Materials which rights shall at all times vest wholly in
      Licensors. Licensee agrees that neither this Agreement nor the exercise of
      the rights under this Agreement shall vest in Licensee or be construed to
      vest in Licensee any right of ownership in or to the Licensed Materials.
      Except for the rights granted under this Agreement and as otherwise
      expressly provided herein, to the extent that any Intellectual Property
      rights or other rights in the Licensed Materials accrue to Licensee (by
      operation of law or otherwise), Licensee hereby assigns to Licensor all
      right, title and interest in and to such rights, and no further action or
      documentation by Licensor shall be necessary to effectuate such
      assignment.

                  

                

        

        
          
             

            
              	
                      10.3

                    	
                      
                        All
      data and data files, except the Billing Data, which are generated,
      recorded and stored relating to the Services of the Game, and the contents
      of related documentation, are the sole and exclusive properties of
      Licensors.

                      

                    

            

            
              
                 

                
                  	
                          10.4

                        	
                          
                            Licensor
      hereby grants Licensee a limited license to utilize and display the marks
      and other proprietary trademarks, service marks, trade names, trade dress,
      slogans, logos and/or designs including, without limitation, corresponding
      marks and names of Licensor and the Game (“Licensor Trademarks”) in
      themselves and/or in a form changed into a language or languages in the
      Territory and/or any other languages during the Term of this Agreement in
      connection with the marketing, promotion, copying, displaying, servicing
      or operating of the Game in the Territory. In any event, Licensee shall
      inform Licensor of its intended purpose and the method of use with respect
      to the Licensor Trademarks and shall obtain a prior written approval of
      Licensor in this regard, such approval not to be unreasonably withheld or
      delayed.

                          

                        

                

                 

              

            

          

        

      

      
        	
                10.5

              	
                Licensor
      may determine in consultation with Licensee any changes to the original
      title, Trademark, character names or other names of the Game (together the
      "New Title") to
      customize the Game more appropriately for the market in the Territory. All
      of the rights in and related to the New Title will be exclusively owned by
      Licensor.

              

      

      
         

        
          	
                  10.6

                	For the purpose of providing the Services safely with protecting
      Licensor’s Intellectual Property as well as the New Title in the
      Territory, Licensee shall, upon the request and prior written consent of
      Licensor, take actions to register the Licensor’s Intellectual Property
      and the New Title in the name of and on behalf of Licensor to relevant
      authorities at the sole cost of Licensee. Nothing in this Agreement grants
      Licensee ownership or any rights in or to use the Licensor’s Intellectual
      Property and the New Title, except in accordance with the license granted
      under this Agreement, and any such use is for and inures to the benefit of
      Licensor.

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

          
             

            
              	
                      10.7

                    	Licensee shall endeavor to protect the proprietary technologies
      licensed to it by the Licensor under this Agreement to ensure that no
      unauthorized persons have access to the Licensed Materials in the
      Territory, and Licensee shall refrain from any disclosures, duplication or
      reproduction thereof, except as specifically permitted
  herein.

            

            
               

              
                	
                        10.8

                      	Licensee will affix any copyright or other proprietary rights notices
      to the Game and to any related materials where relevant and appropriate in
      a way previously agreed between the Parties.

              

               

            

          

        

      

      
        	
                10.9

              	
                Licensee
      agrees to report to Licensor, and the Licensor agree to report to
      Licensee, of any
      infringements, illegal uses or misuses of the Licensed Materials in the
      Territory or the likelihood or possibility of any of the foregoing actions
      (the “Illegal Use”) immediately upon becoming aware of the same. Licensor
      shall have the decision making power with respect to any action or
      measures to be taken and shall immediately upon becoming aware of such
      Illegal Use take any and all such actions and measures with a view to end
      such Illegal Use. Licensee agrees to provide reasonable assistance to
      Licensor, and Licensor shall provide reasonable assistance to Licensee, in
      enforcing or obtaining protection against the foregoing Illegal Use of
      such items. The Parties shall bear its own costs and expenses incurred and
      arising from the foregoing assistance unless and to the extent the matter
      to which such assistance applies arises out of or from or is related in
      any way to the breach by Licensee of any term or condition of this
      Agreement or by Licensee’s misconduct, in which case such assistance shall
      be at Licensee’s sole cost and expense. For avoidance of any doubt, all
      incurring costs and expenses to enforce any legal actions or measures
      taken by Licensee within the Territory shall be borne by Licensee unless
      Licensor decides to enforce such legal actions on its own. Notwithstanding
      the foregoing, Licensee shall make good faith efforts to shut down any
      servers operated by unauthorized third parties that provide end users
      access to the Server Software, and any and all incurring costs and
      expenses for the measures taken by Licensee shall be solely born by
      Licensee.

              

      

       

      
      

      
        	
                10.10

              	
                Licensor
      hereby represent and warrant to the best of its knowledge as of Effective
      Date, that Licensor have legal and valid rights to grant the rights and
      licenses under this Agreement to Licensee and that the Game and the
      Licensed Materials do not violate or infringe any patent, copyright and
      trademark of any third party (provided that, as for the Licensor
      Trademarks and/or patent, only to the extent the Licensor owns the right
      within Korea as of the Effective Date of this
  Agreement).

              

      

      

      Article
11

      Indemnification

      
         

        
        

        
          	
                  11.1

                	
                  Licensee
      shall indemnify, defend and hold Licensor, and their affiliates,
      directors,   officers, employees and agents, harmless from
      and against any and all third party claims, losses, liabilities, costs and
      expenses (including legal fees and costs) reasonably incurred by Licensor
      arising out of or relating to:

                

        

        
           

          
          

          
            	
                     

                  	(i) any violation by Licensee of any of the provisions of this
      Agreement, including, but not limited to, any misrepresentation or breach
      of any representation, warranty or covenant by Licensee hereunder;
  and

          

          
             

            
              
                 

              

              
                 

                
                  

                

              

              
                 

              

            

             

            
            

            
              	
                       

                    	
                      (ii)
      any negligence or intentional acts or omissions on the part of Licensee or
      its employees or agents.

                    

            

            
               

              
              

              
                	
                        11.2

                      	Licensor shall indemnify, defend and hold Licensee and its affiliates,
      directors, officers, employees and agents, harmless from and against any
      and all third party claims, losses, liabilities, costs and expenses
      (including legal fees and costs) reasonably incurred by Licensee arising
      out of or relating to:

              

              
                 

              

            

          

        

      

      (i)  any
violation by Licensor of any of the provisions of this Agreement, including, but
not limited to, any misrepresentation or breach of any representation, warranty
or covenant by Licensors hereunder; and

      

      (ii)  any
negligence or intentional acts or omissions on the part of Licensor, or their
employees or agents.

      
        
           

          
          

          
            	
                    11.3

                  	The indemnification procedures shall be as
follows:

          

          
             

          

        

      

      (i) A
Party seeking indemnification (the “Indemnified Party”) shall promptly notify
the other Party (the “Indemnifying Party”) in writing of any claim for
indemnification; provided that failure to give such notice will not relieve the
Indemnifying Party of any liability hereunder (except to the extent that the
Indemnifying Party has suffered actual material prejudice by such
failure).

      

      (ii) The
Indemnified Party will tender sole defense and control of such claim to the
Indemnifying Party.  The Indemnified Party will, if requested by the
Indemnifying Party, give reasonable assistance to the Indemnifying Party in
defense of any such claim.  The Indemnifying Party will reimburse the
Indemnified Party for any reasonable expenses (including, without limitation,
attorney expenses) directly incurred from providing such
assistance.

      

      (iii)The
Indemnifying Party will have the right to consent to the entry of judgment with
respect to, or otherwise settle, an indemnified claim with the prior written
consent of the Indemnified Party, which consent will not be unreasonably
withheld or delayed; provided, however, that the Indemnified Party may withhold
its consent only if any such judgment or settlement (A) imposes a
non-reimbursable monetary or continuing non-monetary obligation on such
Indemnified Party, (B) does not include an unconditional release of that
Indemnified Party and its affiliates from all liability in respect of claims
that are the subject-matter of the indemnified claim, and/or (C) requires a
stipulation to, or admission or acknowledgment of, any liability or
wrongdoing.

      

      Article
12

      Limitation
of Liability

       

        
           

          
          

          
            	
                    12.1

                  	
                    Except
      for the warranty and indemnification obligations set forth in Article 11
      above,
      Licensor makes no warranties, express or implied, concerning the Game
      including but not limited to its merchantability, and the Game is
      licensed hereunder “As
Is”.

                  

          

        

      

       

      
        	
                12.2

              	
                In
      no event will either Party be liable to the other for any indirect,
      

              

      

      
         

        
          	
                   

                	
                  consequential,
      incidental, punitive or special damages, whether based on breach of
      contract, tort ( including negligence) or otherwise, and whether or not
      such Party
      has been advised of the possibility of such
  damage.

                

        

         

      

      Article
13

      Confidentiality

      

      
        	
                13.1

              	
                All
      Confidential Information disclosed by either Party under this Agreement
      shall be maintained in confidence by the receiving Party and shall not be
      used for any purpose other than explicitly granted under this
      Agreement.  Each Party agrees that it shall provide Confidential
      Information received from the other Party only to its employees,
      consultants and advisors who need to know for the performance of this
      Agreement. The receiving Party shall be responsible for any breach of this
      Article by its employees, consultant and
  advisors.

              

      

      

      
        	
                13.2

              	
                The
      confidential obligation shall not apply, in the event that it can be shown
      by competent documents that the Confidential
  Information:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                becomes
      published or generally known to the public before or after the execution
      of this Agreement without any breach of this Agreement by any
      Party;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                was
      known by the receiving Party prior to the date of disclosure to the
      receiving Party;

              

      

      

      
        	
                 
      

              	
                (c)

              	
                either
      before or after the date of disclosure is lawfully disclosed to the
      receiving Party by a third party who has no confidential obligation for
      such information;

              

      

      

      
        	
                 
      

              	
                (d)

              	
                is
      independently developed by or for the receiving Party without reference to
      or reliance upon the Confidential Information;
  or

              

      

      

      
        	
                 
      

              	
                (e)

              	
                is
      required to be disclosed by the receiving Party in accordance with the
      applicable laws and orders from the government or court; provided that, in
      this case, the receiving Party shall provide prior written notice of such
      disclosure to the providing Party and takes reasonable and lawful actions
      to avoid and/or minimize the degree of such
  disclosure.

              

      

      

      Article
14

      Term

      

      
        	
                14.1

              	
                This
      Agreement will become effective on the Effective Date and, unless
      terminated earlier in accordance with this Agreement, shall remain in
      effect for a period of two (2) years from the Commercial Launch Date
      subject to extension or renewal by mutual written agreement of the Parties
      hereto (the "Term"), provided that, this starting date shall be the date
      when the Game is first commercially launched in any one of the countries
      in the Territory. Three months prior to termination of this Agreement (the
      “Negotiation Period”), the Parties shall engage in negotiation with each
      other with respect to the possibility of re-entering into an agreement
      with each other in relation to the Game. In case the Parties do not reach
      an agreement with each other with respect

              

      

      
         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                   

                	
                  to
      continuing the Game licensing in the Territory within the Negotiation
      Period, this Agreement shall be deemed mutually terminated at the end of
      the Term or its renewed term.

                

        

         

      

      
        	
                14.2

              	
                Phase-Out
      Period.
      There shall be a phase out period of three (3) months (“Phase-Out Period”) during which time Licensee shall
      reasonably assist Licensor’s continuous service of the Game within the
      Territory. Such Phase-Out Period shall be immediately following either the
      expiration of the Term or otherwise early termination of the Agreement,
      provided that a non breaching party, at its option may elect to commence
      the Phase-Out Period prior to termination of the
      Agreement.

              

      

      
         

        
          	
                   

                	
                  During the Phase Out Period,
      Licensee shall (i) wind down the service of the Game to Subscribers and to
      ultimately terminate immediately upon the end of the Phase Out Period,
      (ii) provide information and materials (including but not limited to the
      Billing Data, Subscriber game play data, etc.) reasonably requested by
      Licensor in order to be able to continue the service to the subscribers in
      the Territory, (iii) post a service termination notice to its Subscribers
      on Licensee’s Game site with details of service transfer, if available,
      for one (1) month following termination of expiry of this Agreement and
      two (2) months thereafter and transfer to Licensor as the case may be at
      its own costs and expenses the information of the Subscriber who have
      agreed on the transfer of his/ her information at least once per week, and
      (iv) terminate its marketing and sales activities relating to the Game.
      During the Phase-Out Period, Licensor is not obligated to provide
      technical or operations services
  hereunder.

                

        

         

        Article
15

      

      Other
Business

      
         

        
          	
                  15.1

                	Should Licensor or Licensee, at any time during the Term, wish to
      start any business (i) selling, merchandising or otherwise commercializing
      characters of the Game, (ii) publishing books or other materials on or in
      relation to the Game, or (iii) servicing the subtitled version, series or
      sequel of the Game, the terms and conditions shall be negotiated and
      agreed by Licensee and Licensor in writing.

        

        
           

        

      

      
        Article
16

      

      
        Breach

      

      
        
           

          
            	
                    16.1

                  	Licensee acknowledges that any breach of its obligations hereunder may
      cause Licensor irreparable injury for which there may not be adequate
      remedies at law and that Licensor shall be entitled to equitable relief in
      addition to all other remedies available to
Licensor.

          

          
            
              
                 

                
                  	
                          16.2

                        	If Licensee has breached its obligation to pay any
      other  payments due to Licensor under this Agreement Licensor
      with written notice of such late
      payment may suspend performing its obligation required under this
      Agreement without
      incurring any liabilities until such breach is
cured.

                

                
                   

                

              

            

          

        

      

      Article
17

      Termination

      

      
        	
                17.1

              	
                This
      Agreement may be terminated upon the mutual agreement of the
      Parties.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

       

      
        	
                17.2

              	
                Each
      Party shall have the right to immediately terminate this
      Agreement:

              

      

      

      
        	
                 
      

              	
                (a)

              	
                upon
      written notice to the other Party in the event of the other Party’s
      material breach of this Agreement and such breach shall continue for a
      period of thirty (30) Business Days after the breaching Party’s receipt of
      written notice setting forth the nature of the breach or its failure to
      perform and the manner in which it may be
  remedied;

              

      

      

      
        	
                 
      

              	
                (b)

              	
                if
      the other Party or its creditors or any other eligible party files for its
      liquidation, bankruptcy, reorganization, composition or dissolution, or if
      the other Party is unable to pay any kind of debts as they become due, or
      the creditors of the other Party have taken over its management;
      or

              

      

      

      
        	
                 
      

              	
                (c)

              	
                in
      accordance with Section 17.2 below.

              

      

      
         

        
          	
                  17.3

                	
                  Notwithstanding
      Article 16.2 above, Licensor may immediately terminate this Agreement upon
      a written notice to Licensee:

                

        

        
          

          
            	
                     
      

                  	
                    (a)

                  	If the Commercial Launch Date is delayed beyond six (6) months from
      the Effective Date without reasonable obstacles;

          

          
            

            
              	
                       
      

                    	
                      (b)

                    	If it is reasonably considered to be difficult to continue the
      services of the Game because
      Licensee having committed or having been alleged to commit a breach of
      applicable laws or regulations in the Territory or taking actions
      reasonably deemed obscene or extremely
immoral;

            

            
               

              
                	
                         
      

                      	
                        (c)

                      	It is reasonably considered to be difficult to continue the Services
      because of cancellation or failure to obtain any necessary Government
      Approval;

              

              
                 

                
                  	
                           
      

                        	
                          (d)

                        	If Licensee has breached its obligation to pay any other payments due
      to Licensor under this Agreement within thirty (30) Business Days after
      receiving written notice from Licensor for late payment;
or

                

                
                   

                  
                    	
                             
      

                          	
                            (e)

                          	If the service of the Game in the Territory is stopped, suspended,
      discontinued or disrupted for more than thirty (30) Business Days in total
      during the Term of this Agreement
      due to causes attributable to Licensee

                  

                  
                     

                    
                      	
                              17.4

                            	Notwithstanding Article 16.3 above, Licensee may immediately terminate
      this Agreement upon a written notice to
Licensor:

                    

                    
                      
                        

                        
                          	
                                   
      

                                	
                                  (a)

                                	If the service of the Game in the Territory is stopped, suspended,
      discontinued
      or disrupted for more than thirty (30) Business Days in total during
      the Term of the Agreement due to causes solely attributable to
      Licensor.

                        

                        
                          

                          
                            	
                                     
      

                                  	
                                    (b)

                                  	If the Commercial Launch Date is delayed beyond (6) months from the
      effective
      date without reasonable obstacles by Licensor’s Technical Issue and for
      reasons solely attributable to Licensor.

                          

                          
                             

                            
                              
                                 

                              

                              
                                 

                                
                                  

                                

                              

                              
                                 

                              

                            

                             

                          

                        

                      

                    

                  

                

              

            

          

        

      

      
        	
                17.5

              	
                Upon
      the effective date of such termination or expiry, all rights granted to
      Licensee hereunder shall immediately cease and shall revert to Licensor,
      and Licensee shall immediately cease servicing of the Game and return to
      Licensor any and all software, Licensed Materials and other materials or
      information provided by Licensor to Licensee under this
      Agreement.

              

      

      
         

        
          	
                  17.6

                	Any Monthly Payment accrued hereunder prior to the termination or
      expiry hereof shall
      be payable by Licensee to Licensor, notwithstanding the termination or
      expiry hereof in accordance with the terms regarding payment
      hereunder.

        

        
           

          
            	
                    17.7

                  	No termination of this Agreement shall affect the Parties’ rights or
      obligations that     were incurred prior to the
      termination.  The expiration or termination of this Agreement
      shall not affect the effectiveness of Article 1, 7, 10 through 13, 16 and
      18 which shall survive the expiration or termination of this
  Agreement.

          

           

        

      

      
        	
                17.8

              	
                As
      soon as License knows of the impending termination or expiry of this
      Agreement, Licensee
      shall support and cooperate with Licensor in all respects in order to
      efficiently and smoothly carry out the transition process, as requested by
      Licensor.

              

      

      

      Article
17

      Force
Majeure

      

      
        	
                17.1

              	
                Notwithstanding
      anything in this Agreement to the contrary, no default, delay or failure
      to perform on the part of either Party shall be considered a breach of
      this Agreement if such default, delay or failure to perform is shown to be
      due entirely to causes beyond the reasonable control of the Party charged
      with such default, delay or failure, including, without limitation, causes
      such as strikes, lockouts or other labor disputes, riots, civil
      disturbances, actions or inactions of governmental authorities or
      suppliers, epidemics, war, embargoes, severe weather, fire, earthquake,
      acts of God or the public enemy (“Force
  Majeure”).

              

      

      

      
        	
                17.2

              	
                If
      the period of such default, delay or failure to perform as set forth above
      in Section 17.1 exceeds thirty (30) Business Days from the initial
      occurrence, the Party who is not affected from such Force Majeure event
      shall have the right to terminate this Agreement with a written notice to
      the other Party.

              

      

      
      

       

      Article
18

      General
Provisions

      

      
        	
                18.1

              	
                Neither
      Party’s rights, duties or responsibilities under this Agreement may be
      assigned, delegated or otherwise transferred in any manner, without prior
      written consent of the other Party.

              

      

      

      
        	
                18.2

              	
                It
      is understood and agreed by the Parties hereto that this Agreement does
      not create a fiduciary relationship between them, that Licensee shall be
      an independent contractor, and that nothing in this Agreement is intended
      to constitute either Party an agent, legal representative, subsidiary,
      joint venture, employee or servant of the other for any purpose
      whatsoever.

              

      

      

      
        	
                18.3

              	
                If
      any kind of notices, consents, approvals, or waivers are to be given hereunder, such
      

              

      

      
         

        
          
             

          

          
             

            
              

            

          

          
             

          

           

        

        
          	
                   

                	
                  notices,
      consents, approvals or waivers shall be in writing, shall be properly
      addressed to the Party to whom such notice, consent, approval or waiver is
      directed, and shall be either hand delivered to such Party or sent by
      certified mail, return receipt requested, or sent by FedEx, DHL or
      comparable international courier service, or by
      telephone, facsimile or electronic mail (in either case with written
      confirmation in any of the other accepted forms of notice) to the
      following addresses or such addresses as may be furnished by the
      respective Parties from time to
time:

                

        

         

      

      All
notices hereunder to Licensor shall be delivered, transmitted or sent
to:

      NHN
Games Corp.

      6Fl.,
102Dong, I-Park Bundang 9 Jeongja-dong, Bundang-gu, Seongnam City, Gyeonggi,
KOREA

      Attention:
Tae Young Kim

      Email:
tonykim@nhngames.com

      

      All
notices hereunder to Licensee shall be delivered, transmitted or sent
to:

      Webzen Taiwan Inc.

      7F, No.
176, Jian 1st Rd,

      Jhonghe
City,

      Taipei
County 23553

      Taiwan,
R.O.C.

      Attention:
Phillip Lee

                  Email:
phillip_lee@webzen.com.tw

      

      
        	
                18.4

              	
                No
      course of dealing or delay by a Party in exercising any right, power, or
      remedy under this Agreement shall operate as a waiver of any such right,
      power or remedy except as expressly
      manifested in writing by the Party waiving such right, power or remedy,
      nor shall the waiver by a Party of any breach by the other Party of any
      covenant, agreement or provision contained in this Agreement be construed
      as a waiver of the covenant, agreement or provision itself or any
      subsequent breach by the other Party of that or any other covenant,
      agreement or provision contained in this
  Agreement.

              

      

      

      
        	
                18.5

              	
                This
      Agreement, including all exhibits, addenda and schedules referenced herein
      and attached hereto, constitutes the entire agreement between the Parties
      hereto pertaining to the subject matters hereto and supersedes all
      negotiations, preliminary agreements, and all prior and contemporaneous
      discussions and understandings of the Parties in connection with the
      subject matters hereof.

              

      

      

      
        	
                18.6

              	
                This
      Agreement may be amended only upon the execution of a written agreement
      between Licensor and Licensee which makes specific reference to this
      Agreement.

              

      

      

      
        	
                18.7

              	
                This
      Agreement shall be governed by and construed in accordance with the laws
      of Republic of Korea, without reference to the principles of conflict of
      laws thereof.

              

      

      

      
        	
                18.8

              	
                In
      the event of any dispute, controversy or difference, which may arise both
      the Parties and be notified in writing (the “Dispute Notice”), out of or
      in relation to or in connection with the interpretation or performance of
      this Agreement or any of the terms hereof, or a breach hereof (the
      “Dispute”), the Parties hereto shall promptly conduct discussions and
      negotiations in good faith with a view to resolve such Dispute
      

              

      

      
         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                   

                	
                  effecting
      as nearly as possible the intent and purposes of the Parties
      hereto.  Any resolution of such Dispute shall be set forth in a
      writing signed by the Parties. Notwithstanding the foregoing, the Parties
      may apply to any court of competent jurisdiction for injunctive relief
      (including but without limitations to temporary restraining order,
      preliminary or permanent injunction and other equitable and provisional
      relief as deemed necessary). Each Party irrevocably and unconditionally
      agrees that any litigation which may arise out of or in connection with
      this Agreement shall be subject to the exclusive jurisdictions of the
      Seoul Central District Court.

                

        

         

      

      
        	
                18.9

              	
                If
      any section, subsection or other provision of this Agreement or the
      application of such section, subsection or provision, is held invalid,
      then the remainder of the Agreement, and the application of such section,
      subsection or provision to persons or circumstances other than those with
      respect to which it is held invalid shall not be affected
      thereby.

              

      

      

      IN
WITNESS WHEREOF, the Parties have executed this Agreement the day and year first
above-written.

      

      

      2009. 12.
11

      

      

      NHN Games
Corp.

      
         

         

        
          
            	By:   
      	/s/ Kim Byoung
      Gwan	 

          

        

      

      Name:  Kim
Byoung Gwan

      Title:  C.E.O

      

      
 

      Webzen
Taiwan Inc.

       

       

      
        
          	By:   
      	/s/ Kim Tae
      Hoon	 

        

        Name:  Kim
Tae Hoon

      

      Title:  C.E.O

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]