Document:

Exhibit 4.10

Lease Contract

The leaseholder CJ Internet Co., Ltd.,(hereinafter referred to as “A”) and the lessee, Webzen Inc., (hereinafter referred to as “B”) hereby enter into a lease contract as follows regarding the subject property listed in Article 1.

Article 1 (List of Subject Property)

	
1  

	
Location: 13F, 14F of the Daerung Post Tower 2nd, 182-13 Guro-dong, Guro-gu, Seoul, Korea

	
2  

	
Property Subject to Lease: Above ground floors 13 and 14 of the building located at the aforementioned address.

	
Floor

	
Area for Lease

	
Note

	
13 F

	
4319.93m2 (1306.78 pyeong)

	
Including common space

	
14 F

	
1295.98m2 (392.23 pyeong)

	
Including common space

	
Total

	
5615.91m2 (1699.01 pyeong)

	
Including common space

Article 2 (Term of Lease)

The term of the lease begins upon the date of this contract and will be effective for 2 years. The move-in date is December 19, 2009.

Article 3 (Extension and Alterations to the Lease Contract)

“A” and “B” are to confer upon the terms of the contract and whether to extend the lease contract before the contract expires. When renewing the contract, “A” can adjust the lease deposit and rent taking into account of the prices of surrounding areas.

Article 4 (Limitations of Usage)

“B” shall rent and utilize the aforementioned property for office space and cannot use the property for other purposes without the prior written consent of “A”.

Article 5 (Lease Deposit)

	
1  

	
The lease deposit is six hundred forty five million four hundred eleven thousand KRW (₩645,411,000/VAT not included) and “B” pays “A” the lease deposit in cash before the move-in date, in accordance with the following schedule.

(VAT not included)

	
Lease Deposit

	
Amount

	
Date of Payment

	
Down Payment

	
64,541,100 KRW

	
Date of Contract

	
Remainder

	
580,869,900 KRW

	
Move-in Date

  

  

  

 

	
2    

	
Upon payment of the remainder, “A” and “B” must cooperate with all actions regarding the setting of mortgage rights on the deposit (first priority security rights required).

	
3    

	
If the contract is terminated due to circumstances for which “A” is responsible after the payment of the down payment (advance) and before payment of the remainder and transfer of the subject property, “A” shall pay “B” twice the amount of the down payment (advance) and if the contract is terminated during the same period due to circumstances for which “B” is responsible, “A” will acquire the ownership of the down payment (deposit).

Article 6 (Rent)

	
1  

	
“B” must pay “A” sixty four million five hundred forty one thousand one hundred KRW (₩64,541,100/VAT not included) in rent before the end of each month.

	
2  

	
Rent will be calculated starting on the day that “B” moves in, and for months during which rent does not begin on the first day of the month or does not end on the last day of the month, such as the month of entering into this contact or the month during which this contract is terminated or cancelled, the rent will be calculated per day.

	
3  

	
“B” cannot demand that “A” appropriate part of the lease deposit as monthly rent. However, this does not limit the rights of “A” to appropriate part of or the entirety of the lease deposit as rent in the case that “B” does not fulfill the responsibilities stipulated in section 1.

Article 7 (Interior Usage Fee)

	
1  

	
The yearly interior usage fee is thirty nine million KRW (₩39,000,000/VAT not included).

	
2  

	
“B must pay the interior usage fee twice during the term of the contract. The first payment must be made within 12 months of moving in, and the second within 12 months from the date of the first payment.

Article 8 (Utilities)

	
1  

	
During the time “B” uses the property, “B” is responsible for all of the utilities such as electricity, city gas, water, and service costs (personnel expenses).

	
2  

	
“B” pays the utilities into the account designated by the maintenance office by the 10th of the following month.

	
3  

	
The first utility payment is calculated starting on the day “B” moves in.

Article 9 (Late Fee)

If “B” is late in paying the amounts stipulated in articles 5, 6, and 7, “B” must pay additional late fee calculated by applying a yearly interest rate of 12% till the actual payment date.

  

  

  

 

Article 10 (Cancellation of Contract)

When “B” falls under any one of the following items, “A” can cancel the contract without any notice.

	
1.  

	
When “B” defaults on payment of the rent, and utilities stipulated by this contract for 2 months or longer, or when “B” does not pay the interior usage fee within 2 months from the designated date of payment.

	
2.  

	
When “B” goes into bankruptcy, becomes insolvent or enters into a transfer of property or settlement contract for the purpose of repaying a creditor, or when “B” requests for the initiation of liquidation process, turnaround process, corporate reorganization, or workout etc., of “B” are filed.

Article 11 (Change of Structure or Adding of Equipment inside the Subject Property)

When “B” wishes to pay for and install additional facilities required for its operation, before or after moving into the subject property, “B” must receive approval from “A”.

Article 12 (Repairs)

“B” is responsible for usual repair expenses for the leased property such as costs of repairing broken glass, exchanging fluorescent lights, or replacing damaged auxiliary facilities.

Article 13 (Management of the Subject Property)

	
1  

	
When “A”, due to circumstances that cannot be avoided, intends to limit the operations and use of the facilities, for example by cutting off the water or electricity, “B” must be notified in advance.

	
2  

	
“B” must exercise the duty of care in managing the subject property, and from the time that “A” allows “B” to use the property, responsibility for the safety management of the property of “B” (including parked cars in the parking lot) is assigned to “B”.

	
3  

	
When “B” or its employee damages part or all of the property intentionally or due to negligence, “B” must return the property to its original state or make compensation for the damages.

Article 14 (Transfer of Rights, Subleasing)

	
1  

	
“B” cannot transfer its rights or sublease the leased property without the consent of “A”. However, this does not apply to cases in which “B” subleases part of the subject property to its related companies.

	
2  

	
The related companies referred to in the previous section refer to companies that possess 20% or more of the shares of “B” or companies of which “B” possesses 20% or more of their shares.

 

  

  

  

 

	
3  

	
When “B” violates the previous sections, “A” can terminate this contract.

Article 15 (Return of the Lease Deposit)

	
1  

	
Upon expiration of the term of this lease contract, the obligation of “A” to return the lease deposit and the obligation of “B” to return the subject property to its original state and transfer it to “A” are to be fulfilled simultaneously.

	
2  

	
When “B” delays transferring the property after receiving the lease deposit back, “B” must pay the amount equivalent to the rent for the period after receiving the deposit and make compensation for other damages.

	
3  

	
When there are unpaid amounts of rent, interior usage fee, utilities, and other payments remaining that “B” must make, “A” can deduct such amounts from the deposit when returning it.

Article 16 (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 17 (Obligation of Transfer)

	
1  

	
Upon expiration of the term of this contract or termination of this contract, “B” must immediately remove its property and assets from the subject property and transfer the subject property to “A” in its original state, as it was before leasing.

	
2  

	
When this contract expires or is terminated, “B” cannot assert ownership or demand facility fees, amelioration expenses, or premiums from “A”.

Article 18 (Prohibitions)

“B” is prohibited from the following actions

	
1.  

	
Actions that cause discomfort to the public or harm the aesthetic value. For example, leaving objects that can obstruct the hallway or other public facilities or installing or displaying billboard (sun coating included) or advertisements.

	
2.  

	
Bringing in or storing explosives, dangerous objects, or other objects that are harmful to the human body and cause discomfort to people or that may damage property within the leased property or other areas.

	
3.  

	
Noisy acts, usage of musical instruments, having pets other than fish in fish tanks, and actions that cause discomfort and revulsion or inconvenience to other people.

	
4.  

	
Using the leased property for residential purposes or using the property for purposes other than those stipulated by this contract.

	
5.  

	
Discarding or leaving trash, in areas other than those designated by “A” or the maintenance office.

 

  

  

  

 

	
6.  

	
Monopolizing shared facilities.

	
7.  

	
Bringing in food for the purpose of cooking.

Article 19 (Entrance and Inspection of Leased Property)

In cases of emergency, where there is no time to get consent from “B”, or when it is urgent and cannot be avoided in terms of managing the building, “A” or its employees may enter the leased property without prior notification and take the necessary measures for the purposes of preventing crime, fire or accident.

Article 20 (Ownership Transfer of Furniture and Others)

In addition to the lease contract, “A” transfers ownership of the furniture and equipment listed in the attachment and located within the leased property to “B” and “B” pays “A” the cost of such ownership to “A” on the move-in date. A separate agreement is to be drafted regarding the transfer of ownership and the price.

Article 21 (Special Contract Items)

	
1  

	
“B” does not acquire the rights to use the fitness facilities on the 5th floor of the building from “A”.

	
2  

	
Whether the part-time workers and manager of the café on the 14th floor are to be succeeded will to “B” be decided through an agreement between “A” and “B” not later than 3 months before “B” is to move in.

	
3  

	
“B” will be allowed to park a total of 65 vehicles regarding the usage of the leased property.

Article 22 (Other)

	
1  

	
Items not stipulated in this contract will be resolved by agreement between “A” and “B” in accordance with general laws and commercial practices.

	

2  

	
When conflicts arise with regards to this contract, the Seoul Central District Court will be the court of jurisdiction.

  

  

  

 

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

December 18, 2009

Leaseholder (A) 182-13 Guro-dong, Guro-gu, Seoul

   14F, Daerung Post Tower 2nd

   CJ INTERNET CO., LTD.

   Representative Director Jung, Young Jong

Lessee (B)        467-6, Dogok-dong, Gangnam-gu, Seoul

   8F Daerim Acrotel

   WEBZEN Inc.

   Representative Director Kim, Chang KeunExhibit 4.11

 

 

Real Estate Sales Contract

This real estate sales contract is entered into between the seller, Webzen Inc. or “A”, and the purchaser, KINX Co., Ltd. or “B”, as follows.

- Follows –

Article 1 (Subject of Sales and Price)

“A” sells the subject real estate property listed in Annex A to “B” for the amount of two billion four hundred seventy nine million nine hundred three thousand seven hundred ten KRW (₩2,479,903,710). The VAT on the building which amounts to sixty five million four hundred ninety one thousand seven hundred twenty one KRW (₩65,491,721) is not included.

	
Price of Land(A)

	
Price of Building(B)

	
VAT(C)

	
Total Price(A+B+C)

	
1,824,986,499

	
654,917,211

	
65,491,721

	
2,545,395,431

Article 2 (Deposit)

	
1)  

	
“B” pays a deposit of two hundred fifty four million five hundred thirty nine thousand five hundred forty three KRW (₩254,539,543) to “A” on July 31, 2009.

	
2)  

	
The deposit is appropriated as part of the sales price.

Article 3 (Seller’s Obligation to Transfer)

	
1)  

	
Upon receiving payment of the funds stipulated in Article 2, section 1, “A” sets a mortgage upon the request of “B” in order to provide security for all debts that may occur following this contract. (However, the expenses of setting up the mortgage are to be borne by the requestor, namely “B”)

	
2)  

	
Simultaneously with the receipt of the intermediate payment stipulated in Article 4, section 1, “A” must expunge all legal restraints and burdens such as provisional attachments, injunctions, and mortgages etc., that restrain the transfer of ownership of “A” except the mortgage set on the building in question by “B”.

	
3)  

	
“A” completes the process of registering the transfer of ownership in the name of “B” and hands over the building in question to “B” on December 21, 2009 (simultaneously with the receipt of the remaining funds from “B”).

Article 4 (Purchaser’s Obligation of Payment)

	
1)  

	
On August 31, 2009, “B” pays the intermediate payment of one billion eighteen million one hundred fifty eight thousand one hundred seventy two KRW (₩1,018,158,172) to “A”.

	
2)  

	
On December 21, 2009, “B” must pay the remainder of the funds for this purchase, namely one billion two hundred seventy two million six hundred ninety seven thousand seven hundred sixteen KRW (₩1,272,697,716) to “A”.

  

  

  

 

Article 5 (Time of Transfer of Ownership)

The ownership of this building is transferred from “A” to “B” on the day the transfer of ownership registration documents are accepted and the payment of the remaining funds stipulated in Article 4, section 2 are made.

Article 6 (Ownership of Income)

After entering into this contract, “A” cannot conduct legal transactions regarding the property in question such as leasing or setting mortgages without the prior consent of “B”, and if other income is generated from this building after the date of this contract, such income shall be divided between “A” and “B” according to the number of days in the months in question and based on the time of transfer of ownership stipulated in the previous article as the standard date.

Article 7 (Relegation of Obligations)

Tax or other fees levied by public authorities imposed on “A” will be borne by “A”. However, those imposed on “A” because “B” did not properly complete the transfer registration or other appropriate procedures will be borne by “B”.

Article 8 (Taxes and Other Fees)

Taxes and other fees arising from the sale of real estate per this contract will be borne by each party as imposed in accordance with the relevant laws, and expenses for the transfer of ownership procedure such as acquisition taxes and registration taxes will be borne by “B”.

Article 9 (Transfer of Rights of Attachments Etc.)

	
1)  

	
“A” shall transfer the rights of waterworks, electricity, gas, and other equipment necessary for the use of the building in question (hereinafter referred to as “attachments”) to “B” and cooperate with the procedure of transfer of title.

	
2)  

	
The maintenance costs, water rates, electric bills, gas bills, and other obligations imposed with regards to the equipment mentioned in the previous section of this Article will be borne by “A” and “B” in accordance with the number of days of usage, using the day that the building was actually transferred as the starting date.

	
3)  

	
After this contract is entered into, “A” and “B” will enter into another contract on the transfer of furnishings and equipment, and upon entering into this contract, “A” will be exempt from the duty to return the real estate in Annex A to its original state in spite of the regulations by the board of resident representatives, and “B” will succeed such duties.

  

  

  

 

Article 10 (Risk Bearing)

	
1)  

	
If all or part of the building in question is lost or damaged due to circumstances that “B” cannot be held liable for before the time of transfer of ownership and handing over as stipulated in Article 5, such damages will be borne by “A”.

	
2)  

	
When the original purpose of this contract cannot be achieved in the case of the previous section, “B” can terminate this contract.

	
3)  

	
When “B” cancels this contract in accordance with the section 2 of this Article, “A” must return the deposit to “B”.

	
4)  

	
Notwithstanding the previous provisions, both parties will not be held responsible for defaulting on these provisions of this contract due to force majeure, and force majeure refers to fires, explosions, natural disasters, wars, actions of the government and other similar circumstances that cannot be controlled by the parties of the contract.

Article 11 (Forfeiture Clause)

When “A” does not fulfill its obligations on the date stipulated in Article 3 or “B” fails to fulfill its duties on the date stipulated in Article 4, each party can cancel this contract without prior notice.

Article 12 (Penalties)

	
1)  

	
When “A” cancels the contract due to default on the contract by “B”, “B” cannot request the return of the deposit.

	
2)  

	
When “B” cancels the contract due to default on the contract by “A”, “A” must pay “B” twice the amount of the funds stipulated in section 1 of Article 2.

Article 13 (Special Provision on the Change of Contract Parties)

	
1)  

	
When the legal person of “A” or “B” as of the time of this contract cannot be maintained due to circumstances such as transfer of control of the company, merger, or dissolution, the party in question must notify the other party of such circumstances in writing and confer.

	
2)  

	
When, with regards to this contract, the legal person cannot be maintained before the expiration of the term of this contract, the successor of the legal person is deemed to have succeeded the items of this contract under the same conditions.

Article 14 (Resolution of Conflicts)

When a conflict between the parties regarding this contract arises, the parties must make efforts to resolve such conflict through mutual agreements and in good faith, and when such resolutions cannot be reached and the conflict goes to trial, the court of jurisdiction will be the court with jurisdiction over the headquarters or branch office of “A”.

 

  

  

  

 

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

July 31, 2009

Granter (A)

8F, Daelim Acrotel, 467-6 Dogok-dong, Kangnam-gu, Seoul

WEBZEN CO., LTD.

Representative Director Kim, Chang Keun

Grantee (B)

5F, Daelim Acrotel, 467-6 Dogok-dong, Kangnam-gu, Seoul

KINX CO., LTD.

Representative Director Lee, Sung Young

 

  

  

  

 

Annex A.

[Property Details]

Details on the Building

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

Daelim Acrotel

Details on Exclusively Owned Part of Building

Bldg No. : 3-302

Structure : Steel frame, ferroconcrete structure

Area : 3rd Floor, Office 302, 283.433m2

Details of Land Rights

Details of Land : 467-6 Dogok-dong, Kangnam-gu, Seoul. 14000.4m2

Type of Land Right : Ownership

Percentage of Land Right : 43.916 over 14000.4 (43.916/14000.4)

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