Document:

dzsi-ex102_9.htm

Exhibit 10.2

 

INTELLECTUAL PROPERTY PLEDGE AGREEMENT

 

THIS INTELLECTUAL PROPERTY PLEDGE AGREEMENT (this “Agreement”) is entered into on this 3rd day of March, 2020 by and between DASAN Networks, Inc. (the “Pledgee” or the “Lender”) and DASAN Network Solutions, Inc. (the “Pledgor” or the “Borrower”). 

 

RECITALS

 

WHEREAS the Pledgor and the Pledgee have entered into a loan agreement dated March 3, 2020 (the “Loan Agreement”), the Pledgor is to enter into this Agreement with the Pledgee for the purpose of securing its obligations under the Loan Agreement

 

Section 1.  Purpose of this Agreement 

The purpose of this Agreement is to set forth the terms and conditions of the pledge of the Pledgor’s interest in the intellectual property under Section 7 Clause 4 of the Loan Agreement. 

 

Section 2.  Definitions

 

Unless otherwise provided herein, the following terms are used in this Agreement with the respective meanings ascribed to such terms below. Any term used herein without definition shall have the meaning assigned to such term in the Loan Agreement.  

 

“Secured Obligations” means Borrower’s obligations towards the Lender under the Loan Agreement, including the obligation to repay the principal amount of the Loan, now owing or later arising.

 

Section 3.  Establishment of Pledge

For the purpose of securing the Secured Obligations under the Loan Agreement, the Pledgor pledges and grants a security interest in, assigns, transfers and delivers unto the Pledgee and assigns its interest in the intellectual property detailed in Appendix I hereto (hereinafter, the 

1

 

“Collateral”) of which the Pledgor is the owner. The maximum amount of the Secured Obligations to be secured by the pledge shall be 43,300,000,000 KRW; provided, that this Agreement will take effect from the date that the pledge currently existing on the Collateral as of the date of this Agreement is released, which release shall be effected within 15 days of the Drawdown Date (as defined in the Loan Agreement).

 

Section 4.  Registration of Pledge 

Immediately upon this Agreement taking effect, the Pledgor shall take all steps to register this pledge on the registry maintained by the Korea Intellectual Property Office and submit documentary evidence of such registration to the Pledgee.

 

Section 5.   Real Subrogation

	
(1)
	
Even prior to the Secured Obligations becoming due, in the event that any compensation or payment for licensing of the Collateral is received, the Pledgee may apply that amount to repayment of the Secured Obligations.

	
(2)
	
The Pledgor shall promptly provide all assistance necessary for the Pledgee to exercise its rights under paragraph (1) above when so requested by the Pledgee.  

	
(3)
	
The Pledgor shall notify the Pledgee immediately upon receipt of any asset over which the Pledgee may exercise its rights under paragraph (1) above.  

 

Section 6.  Notification

Upon becoming aware of any third party claims of nullification against all or a portion of the Collateral, the Pledgor will promptly provide notice to the Pledgee.

 

Section 7.  Enforcement

If the Secured Obligations must be performed as the Loan has become due or due to the occurrence of an Event of Default under the Loan Agreement, the Pledgee may enforce its rights hereunder in accordance with the Civil Execution Act. 

 

Section 8.   Others

2

 

 

	
 
	
(1)
	
The Pledgor  shall bear all expenses in relation to this Agreement, all expenses incurred by the Pledgee in connection with the exercise, protection or enforcement of the Pledgee’s rights and remedies, and all the expenses deemed similar to the abovementioned expenses.

	
 
	
(2)
	
This Agreement shall be separate from, and in addition to any other guaranty or security provided, or to be provided, by the Pledgor or the Share Pledgor to secure the Secured Obligations.

	
 
	
(3)
	
This Agreement shall be construed in accordance with the laws of the Republic of Korea.  The Seoul Central District Court in Seoul, Korea shall have exclusive jurisdiction as the competent court of the first instance to hear, settle, and/or determine any disputes which may arise between the Parties out of or in relation to or in connection with the Agreement. 

	
 
	
(4)
	
Any provision of this Agreement which is prohibited or unenforceable under the laws applicable hereto shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting the validity or unenforceability of such provision. 

 

(Remainder intentionally left blank; signature pages to follow)

 

3

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered by their respective duly authorized officers as of the day and year first above written.

 

 

PLEDGEEDASAN NETWORKS, INC.

    

/s/ Min Woo Nam

Name : Min Woo Nam 
Title : Representative Director

 

 

 

 

 

PLEDGORDASAN NETWORK SOLUTIONS, INC.

    

/s/ Deuk Yeon Won

Name : Deuk Yeon Won
Title : Representative Director 

 

 

 

4

 

Appendix 

 

List of Intellectual Property

 

								
	
No
	
Application No
	
Application date
	
Registration No
	
Registration date
	
Title
	
Inventor
	
Applicant/ Obligee

	
1
	
10-2000-0065418
	
2000.11.04
	
0459951
	
2004.11.25
	
Method and apparatus of server load balancing using MAC address translation
	
Yoon, Jeong-gu
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
2
	
10-2000-0066267
	
2000.11.08
	
0456164
	
2004.10.29
	
method and apparatus of distributing IP addresses to the clients in DHCP system
	
Lee, Seung-dong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
3
	
10-2000-0067261
	
2000.11.13
	
0458986
	
2004.11.19
	
Method and apparatus of Digital Subscriber Line Access Multiplexer using IP addresses
	
Nam, Min-woo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
4
	
10-2001-0032601
	
2001.06.11
	
10-0378522
	
2003.03.19
	
Apparatus for securing of Network
	
Nam, Min-woo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
5
	
10-2001-0032600
	
2001.06.11
	
10-0379130
	
2003.03.26
	
Apparatus for wireless telecommunication
	
Nam, Min-woo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
6
	
10-2003-0025230
	
2003.04.21
	
10-0539163
	
2005.12.21
	
Network Equipment with traffic control facility
	
Shin, Dong-chul
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
7
	
10-2007-0050946
	
2007.05.25
	
10-0885809
	
2009.02.20.
	
AN OPTICAL ETHERNET APPARATUS HAVING A REMOTE CONTROL
	
Lee, Jae-hyung, Lee, Won-shik
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
8
	
10-2007-0050947
	
2007.05.25
	
10-0887927
	
2009.03.03
	
OPTICAL NETWORK TERMINAL HAVING A SELF DIAGNOSIS
	
Lee, Jae-hyung, Lee, Won-shik
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
9
	
10-2007-0056771
	
2007.06.11
	
10-0906603
	
2009.07.01
	
Power providing apparatus with the ability of settling a moment power failure problem
	
Lee, Jae-hyung, Lee, Won-shik, Cho, Jae-bok
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
10
	
10-2007-0071353
	
2007.07.16
	
10-0888398
	
2009.03.05
	
SYSTEM FOR A OPERATING PACKET DATA COMMUNICATION NETWORK
	
Lee, Jae-hyung, Lee, Won-shik
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
11
	
10-2007-0077961
	
2007.08.03
	
10-0891288
	
2009.03.24
	
method and apparatus for avoiding allocation of duplicate IP address
	
Seo, Ju-yeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
12
	
10-2007-0080811
	
2007.08.10
	
10-0914635
	
2009.08.24
	
OPTICAL LINE TERMINATION
	
Moon, Sang-chul, Lee, Ho-shin, Lee, Jae-hyung
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
13
	
10-2007-0080808
	
2007.08.10
	
10-0883575
	
2009.02.06
	
static routing method and packet routing apparatus implementing the same method
	
Baek, Seong-woo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

5

 

								
	
14
	
10-2007-0086067
	
2007.08.27
	
10-0914665
	
2009.08.24
	
apparatus for optical line terminal and apparatus for optical network terminal
	
Moon, Sang-chul, Lee, Ho-shin, Lee, Jae-hyung, Ahn, Hyun-il
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
15
	
10-2007-0086292
	
2007.08.27
	
10-0915317
	
2009.08.27
	
Optical Network Unit and Power control method for it's optical transceiver
	
Lee, Jae-hyung, , Lee, Ho-shin, Moon, Sang-chul, Lee, Byeong-chan
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
16
	
10-2007-0086291
	
2007.08.27
	
10-0912019
	
2009.08.06
	
APPARATUS FOR SWITCHING DUPLICATE PATH IN FIBER OPTIC TELECOMMUNICATION SYSTEM
	
Han, Seo-ho
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
17
	
10-2007-0087852
	
2007.08.30
	
10-0919256
	
2009.09.21
	
apparatus for having layer 3 switching function and network apparatus for having switching function
	
Lee, Kwang-hee
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
18
	
10-2007-0087846
	
2007.08.30
	
10-0890354
	
2009.03.18
	
apparatus for managing forwarding table for layer 3 switching and algorithm for managing forwarding table
	
Lee, Kwang-hee
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
19
	
10-2007-0089167
	
2007.09.03
	
10-0925678
	
2009.11.02
	
apparatus for optical line terminal and apparatus for optical network terminal
	
Lee, Jae-hyung,, Moon, Sang-chul Lee, Ho-shin
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
20
	
10-2007-0090017
	
2007.09.05
	
10-0904160
	
2009.06.16
	
APPARATUS FOR PROTECTING BATTERY IN COMMUNICATION SYSTEM
	
Choi, Seong-wook
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
21
	
10-2007-0098711
	
2007.10.01
	
10-0941118
	
2010.02.01
	
apparatus having layer 3 switching function
	
Lee, Seung-dong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
22
	
10-2007-0104757
	
2007.10.17
	
10-0901347
	
2009.06.01
	
Set Top Box and Multimedia contents service server had a function of dual looking and listening
	
Kim, Young-dong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
23
	
10-2007-0106022
	
2007.10.22
	
10-0946162
	
2010.03.02
	
server for Dynamic Host Configuration Protocol
	
Nam, Gyeong-wan
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
24
	
10-2007-0106016
	
2007.10.22
	
10-0942719
	
2010.02.09
	
apparatus having Dynamic Host Configuration Protocol - Snooping function
	
Choi, Mi-ji
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
25
	
10-2007-0106021
	
2007.10.22
	
10-0958283
	
2010.05.10
	
apparatus having Dynamic Host Configuration Protocol - Snooping function
	
Shin, Hyeon-jae
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
26
	
10-2007-0109921
	
2007.10.31
	
10-0969816
	
2010.07.06
	
network apparatus for coping with disorder
	
Park, Gwang-hyeon, Lee,Seung-ho, Kim,Dong-woo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
27
	
10-2007-0118892
	
2007.11.21
	
10-0953510
	
2010.04.12
	
apparatus having function for managing restart information
	
Lee,Jong-guk
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
28
	
10-2008-0015714
	
2008.02.21
	
10-0914256
	
2009.08.20
	
network terminal apparatus for IP TV service
	
Nam, Gyeong-wan
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
29
	
10-2008-0026755
	
2008.03.24
	
10-0958803
	
2010.05.12
	
Jitter buffering apparatus and method thereof
	
Lee, Seung-dong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
30
	
10-2008-0029688
	
2008.03.31
	
10-0947759
	
2010.03.09
	
MALFUNCTION DETECTION APPARATUS AND MULTI-BOARD SYSTEM USING THE SAME
	
Lee,Jeong-woo, Bae,Chul-min
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

6

 

								
	
31
	
10-2008-0031442
	
2008.04.04
	
10-0938576
	
2010.01.18
	
network apparatus
	
Choi, Seong-wook
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
32
	
10-2008-0040000
	
2008.04.29
	
10-0929132
	
2009.11.23
	
Communication error processing apparatus and method for a subscriber's equipment on Passive Optical Network based on L3/L2 network
	
Ahn, Hyun-il
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
33
	
10-2008-0041242
	
2008.05.02
	
10-0976446
	
2010.08.11
	
METHOD OF MANAGING MENU STRUCTURE ADAPTIVELY IN INTERNET TELEVISION BROADCASTING
	
Choi, Bo-gyeong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
34
	
10-2008-0049725
	
2008.05.28
	
10-0952875
	
2010.04.07
	
OPTICAL NETWORK UNIT
	
Moon, Sang-chul,
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
35
	
10-2008-0049826
	
2008.05.28
	
10-0988498
	
2010.10.12
	
network terminal apparatus
	
Nam, Gyeong-wan
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
36
	
10-2008-0058743
	
2008.06.23
	
10-0971092
	
2010.07.13
	
apparatus for Internet Group Management Protocol Proxy
	
Nam, Gyeong-wan
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
37
	
10-2008-0062628
	
2008.06.30
	
10-0975018
	
2010.08.04
	
apparatus for Internet Group Management Protocol Proxy
	
Shin,Hyeon-jae
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
38
	
10-2008-0074103
	
2008.07.29
	
10-0982907
	
2010.09.13
	
Optical Network Device and monitoring method thereof
	
Jeon,Chang-seob
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
39
	
10-2008-0077335
	
2008.08.07
	
10-0986977
	
2010.10.05
	
network apparatus for preventing from port mis-connection
	
Lee,Bo-gil, Lee,Pil-shin
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
40
	
10-2008-0080306
	
2008.08.18
	
10-0990634
	
2010.10.22
	
operating method for IPTV receiver
	
Park,Jong-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
41
	
10-2008-0080829
	
2008.08.19
	
10-0959834
	
2010.05.18
	
Network end apparatus and data processing method
	
Lee,Bo-gil
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
42
	
10-2008-0088185
	
2008.09.08
	
10-0970367
	
2010.07.08
	
operating method for residential gateway
	
Kim,Tae-hoon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
43
	
10-2008-0088276
	
2008.09.08
	
10-0977399
	
2010.08.17
	
Method and apparatus of processing DHCP packet in dynamic IP address allocation for reducing network load
	
Park,Jong-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
44
	
10-2008-0093243
	
2008.09.23
	
10-0983222
	
2010.09.14
	
Method for providing a content data, method for receiving a content data and system for providing a content data
	
Kim,Tae-hoon, Lee,Dong-hun
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
45
	
10-2008-0095957
	
2008.09.30
	
10-0994356
	
2010.11.09
	
Communication system and method
	
Jeon,Chang-seob
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
46
	
10-2008-0106619
	
2008.10.29
	
10-0984633
	
2010.09.27
	
IPTV receiver and operating method for IPTV receiver
	
Lee,Dong-hun, Lee,Ho-jeong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
47
	
10-2008-0120446
	
2008.12.01
	
10-0992798
	
2010.11.02
	
apparatus for optical network terminal
	
Lee,Bo-gil
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

7

 

								
	
48
	
10-2008-0128985
	
2008.12.18
	
10-1056030
	
2011.08.04
	
apparatus for Internet Group Management Protocol Proxy
	
Park,Jong-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
49
	
10-2009-0040332
	
2009.05.08
	
10-1021151
	
2011.03.03
	
METHOD AND APPARATUS FOR MANAGING NOS INSTALLED TO NETWORK DEVICE
	
Baek, Seong-woo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
50
	
10-2009-0040900
	
2009.05.11
	
10-1063162
	
2011.09.01
	
REMOTE CONTROL UNIT AND DATA FILE REPRODUCTION SYSTEM USING REMOTE CONTROL UNIT
	
Song,Min-chul
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
51
	
10-2009-0092298
	
2009.09.29
	
10-1088630
	
2011.11.25
	
OPTICAL NETWORK TERMINAL AND METHOD FOR DETECTING ROGUE OPTICAL NETWORK TERMINAL
	
Na,Yu-shik,
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
52
	
10-2009-0095557
	
2009.10.08
	
10-1089555
	
2011.11.29
	
Optical Line Termination, Optical Network Terminal and Passive Optical Network
	
Yoo,Seong-hun, Lee,Tae-san
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
53
	
10-2010-0024734
	
2010.03.19
	
10-1113376
	
2012.02.01
	
SET TOP BOX, MOBILE TERMINAL AND METHOD FOR AUTHENTICATING SET TOP BOX
	
Kim,Gi-chul
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
54
	
10-2010-0044507
	
2010.05.12
	
10-1091568
	
2011.12.02
	
OPTICAL COMMUNICATION APPARTUS, OPTICAL TRANSCEIVER PLACED IN OPTICAL COMMUNICATION APPARTUS AND METHOD TO CONTROL OPTICAL TRANSMISSION IN OPTICAL COMMUNICATION APPARTUS
	
Lee,Bo-gil
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
55
	
10-2010-0058548
	
2010.06.21
	
10-1055163
	
2011.08.02
	
APPARATUS FOR ETHERNET SWITCH OF USING VARIOUS PHY CHIP
	
Kim,Seung-gyeong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
56
	
10-2010-0059651
	
2010.06.23
	
10-1106458
	
2012.01.10
	
Apparatus for optical module of ONU
	
Park,Geon-woo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
57
	
10-2010-0060787
	
2010.06.25
	
10-1048273
	
2011.07.05
	
Clock selection method for a lower level apparatus below an Optical Network Terminal of the Passive Optical Network
	
Bae,Chul-min
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
58
	
10-2010-0098167
	
2010.10.08
	
10-1104626
	
2012.01.04
	
METHOD AND APPARATUS FOR SERCHING MANAGED OBJECT IN SIMPLE NETWORK MANAGEMENT PROTOCOL
	
Han il
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
59
	
10-2010-0100154
	
2010.10.14
	
10-1106036
	
2012.01.09
	
MANAGEMENT METHOD AND APPARATUS OF ONT FOR PON
	
Lee,Bo-gil Na,Yu-shik
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
60
	
10-2011-0009628
	
2011.01.31
	
10-1212448
	
2012.12.10
	
Virtual group Managing device for providing Electronic Program Guide for prefer broadcast channels to user
	
Park,Mi-sun
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
61
	
10-2011-0035240
	
2011.04.15
	
10-1176798
	
2012.08.20
	
METHOD FOR CLOCK SYNCHRONIZATION BETWEEN SLAVE AND MASTER
	
Song,Min-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
62
	
10-2011-0117187 
	
2011.11.10
	
10-1266371
	
2013.05.15
	
OPTICAL NETWORK TERMINAL AND METHOD FOR CONFIGURING DUAL OPTICAL NETWORK USING THE OPTICAL NETWORK TERMINAL
	
Yoon,Sang-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
63
	
10-2011-0119804
	
2011.11.16
	
10-1265044
	
2013.05.10
	
FLOW BASED QoS SUPPORTING APPARATUS IN DiffServ
	
Lee,Kwang-hee
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
64
	
10-2012-0007849  
	
2012.01.26
	
10-1339682
	
2013.12.04
	
INTELLIGENT ASSOCIATION BLOCKING BAND STEERING METHOD AND SYSTEM THEREOF
	
Kim,Yeon-gyeong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

8

 

								
	
65
	
10-2012-0011849
	
2012.02.06
	
10-1276077
	
2013.06.12
	
AP DESIGN SYSTEM FOR ACCESS MANAGEMENT MULTIPLE STATION, AND METHOD FOR ACCESS MANAGEMENT OF MULTIPLE STATION AP
	
Kang,Shin-soek
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
66
	
10-2012-0012634
	
2012.02.08
	
10-1335306
	
2013.11.26
	
SYSTEM AND METHOD FOR SETTING NAT DHCP IP OF PLURAL TERMINAL IN AP
	
Lee,Sang-soo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
67
	
10-2012-0025752
	
2012.03.13
	
10-1323128
	
2013.10.23
	
APPARATUS AND METHOD OF TIME SYNCHRONIZATION BY AUTOMATICLLY CONTROLLING SENDING MESSAGE COUNT OF MASTER
	
Park,Geon-woo, Moon, Sang-chul,
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
68
	
10-2012-0030696
	
2012.03.26
	
10-1318156
	
2013.10.08
	
METHOD FOR PROTECTION SWITCHING IN ETHERNET RING NETWORK
	
Shin, Dong-chul
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
69
	
10-2012-0030697
	
2012.03.26
	
10-1361502
	
2014.02.05
	
APPARATUS FOR ETHERNET SWITCH
	
Lee, Byeong-chan
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
70
	
10-2012-0053443
	
2012.05.21
	
10-1353384
	
2014.01.14
	
A Network Load Reduction Method Using CCM
	
Shin, Dong-chul
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
71
	
10-2012-0060546
	
2012.06.05
	
10-1407271
	
2014.06.09
	
Duplex network system
	
Song,Young-ha
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
72
	
10-2012-0117441
	
2012.10.22
	
10-1440271
	
2014.09.04
	
METHOD AND SYSTEM FOR PROCESSING PACKET
	
Lee, Seung-dong, 

Song,Young-ha
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
73
	
 10-2013-0008196
	
2013.01.24
	
10-1505810
	
2015.03.19
	
Phone terminal having two or more settlement scenarios
	
Lee,Geun-seok
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
74
	
10-2013-0008195
	
2013.01.24
	
10-1542474
	
2015.07.31
	
VoIP terminal having a function of credit card settlement, settlement processing system using a VoIP terminal and settlement processing method using a VoIP terminal
	
Jeon,Byeong-guk
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
75
	
10-2013-0015516
	
2013.02.13
	
 10-1533223
	
2015.06.26
	
Content sale system
	
Kim,Jin-hee
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
76
	
10-2013-0018181
	
2013.02.20
	
10-1446013
	
2014.09.24
	
Settlement processing system and method using a VoIP terminal
	
Lee,Geun-ho
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
77
	
10-2013-0065930
	
2013.06.10
	
10-1456140
	
2014.10.23
	
DETERMINING METHOD FOR PACKET FLOW IN VLAN AND VLAN SYSTEM USING ENERGY SAVING FLOW
	
Lee,Sang-san
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
78
	
10-2013-0140130
	
2013.11.18
	
10-1607077
	
2016.03.23
	
Wireless communication apparatus having a function of noise suppression
	
Lee,Min-ho
Lee, Seung-dong,
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
79
	
10-2014-0005707
	
2014.01.16
	
10-1536555
	
2015.07.08
	
Network switch with address configuration function of terminals
	
Park,Jae-sang

Lee, Seung-dong,
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
80
	
10-2014-0015676
	
2014.02.11
	
10-1536902
	
2015.07.09
	
Subscriber''s line open management system for optical network
	
Lee,Jeong-chan
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

9

 

								
	
81
	
10-2014-0042586
	
2014.04.09
	
10-1586624
	
2016.01.13
	
Optical line terminal and time synchronization method in the optical line terminal
	
Moon, Sang-chul,
Lee, Seung-dong,
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
82
	
10-2014-0131733
	
2014.09.30
	
10-1588176
	
2016.01.19
	
Firmware upgrade system
	
Ham,Dae-hoon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
83
	
10-2014-0141039
	
2014.10.17
	
10-1627082
	
2016.05.30
	
Communication relay system
	
Ham,Dae-hoon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
84
	
10-2014-0145503
	
2014.10.24
	
10-1589011
	
2016.01.21
	
Passive Optical Network system for improving impossibility of communication by flooding and improving method for impossibility of communication by flooding thereof
	
Cho,Won-hyeong
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
85
	
10-2014-0181673
	
2014.12.16
	
10-1712370  
	
2017.02.27
	
Ethernet device and system for supporting error packet analysis
	
Lee,Min-ho
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
86
	
10-2015-0036085
	
2015.03.16
	
10-1699218
	
2017.01.18
	
Wireless ad-hoc network system able to transmit power
	
Lee,Sang-jo
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
87
	
10-2015-0041686
	
2015.03.25
	
 10-1685892
	
2016.12.07
	
Virtual device network system
	
Lee,Seung-ho/ Lee/

Chang-geun
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
88
	
10-2015-0053384
	
2015.04.15
	
10-1742951
	
2017.05.29
	
Network switch with MAC/IP assignment protocol
	
Lee,Min-ho /Kim,Bo-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
89
	
10-2015-0137837
	
2015.09.30
	
10-1697059
	
2017.01.11
	
Time synchronization method for Telecommunication Network
	
Lee, Seung-dong, Kim,Dong-woo, Moon, Sang-chul, Cho,Hee-seong, Kim,Bo-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
90
	
10-2016-0041422
	
2016.04.05
	
10-1828234
	
2018.02.06
	
Electronic Control Unit
	
 Kim,Bo-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
91
	
10-2016-0062291
	
2016.05.20
	
10-1789022
	
2017.10.17
	
WiFi node in a car and WiFi connecting method thereof
	
 Kim,Bo-hyeon
	
Dasan Networks Inc
Dasan Network Solutions, Inc 

	
92
	
10-2016-0117563 
	
2016.09.12
	
10-1833894
	
2018.02.23
	
Time synchronization method for PON Network
	
Lee, Seung-dong,, , Kim,Dong-woo, Moon, Sang-chul,, Kim,Jin-ho
	
Dasan Network Solutions, Inc

	
93
	
10-2017-0071828
	
2017.06.08
	
10-1783593
	
2017.09.26
	
Optical Ethernet apparatus
	
Moon, Sang-chul,/ Lee, Byeong-chan
	
Dasan Networks Inc
Dasan Network Solutions, Inc

 

 

 

10

 

Trade Mark Right List

 

									
	
No
	
Origin
	
Application No

(Application date)

 
	
Registration No

(Registration date)
	
Emblem
	
Type
	
Remark
	
 
	
Applicant

	
1
	
Republic of Korea
	
40-2018-0008477
(2018.01.18)
	
40-1410780
(2018.10.26)
	

	
Trade Mark
	
제09류
	
OTT set-top box, TV set-top box, IPTV set-top box, IP router, Broad Network router, switch router, Network router, wireless tele-communication devices (router), computer-networking hub/switch and router, wireless AP, wireless LAN AP, optical network, network control devices, data-transmitting network, communication network, home-network devices, set-top box, smart set-top box, digital set-top box for satellite broadcasting, network management server
	
Dasan Network Solutions, Inc

 

 

11dzsi-ex103_8.htm

Exhibit 10.3

Share Pledge Agreement

 

This Share Pledge Agreement (hereinafter, the “Agreement”), is entered into this 3rd day of March, 2020, by and between DASAN Networks, Inc. (hereinafter, the “Pledgee”), DASAN Network Solutions, Inc. (a company incorporated in accordance with the laws of the State of California, hereinafter the “Pledgor”), and DASAN Network Solutions, Inc. (a company incorporated in accordance with the laws of Republic of Korea, hereinafter, the “Debtor”) 

 

RECITALS

 

The Loan Agreement (hereinafter, the “Loan Agreement”), dated as of the 3rd day of March , 2020, was entered into by and between the Pledgee and the Debtor as security for payment of the Debtor’s indebtedness under the Loan Agreement, and the Pledgee and the Pledgor hereby agree as follows:

 

1. Definition

As used in the Agreement, the following terms have the meanings specified below, whereas other terms have the same meaning used in the Loan Agreement unless stated otherwise:

 

“Secured Obligations” means any and all obligations, liabilities and indebtedness of the Debtor to the Pledgee now or hereafter existing under the Loan Agreement.  

 

2. Pledge and Requirements to Assert

(1) The Pledgor hereby approves the Loan Agreement and each provision thereof, and in order to secure the Secured Obligations, pledges and grants a security interest in, assigns, transfers and delivers unto the Pledgee and assigns its shares , the details of which are specified in Appendix I hereto (hereinafter, the “Collateral”), of which the Pledgor is the owner. This Agreement will create a valid first priority lien on and a first priority perfected security interest in the Collateral pledged by the Pledgor, and the proceeds thereof, securing the payment of the Secured Obligations (the maximum amount of the Secured Obligations to be secured by the pledge shall be 43,300,000,000 KRW); 

provided, that this Agreement will take effect from the date that the pledge currently existing on the Collateral as of the date of this Agreement is released.

(2) In relation to the pledge of the Collateral, at the request of the Pledgee, the Pledgor must follow the legal procedures for “registered pledge of shares” in accordance with the Korean Commercial Act (request the stock issuing company to enter the name and address of the Pledgee in the register of shareholders and to enter the Pledgee’s name in the share certificate, and deliver such share certificate to the Pledgee ) and deliver all related documents to the Pledgee. 

(3) The Debtor, as the stock issuing company of the Collateral, hereby approve the pledge pursuant to the Agreement and agrees to submit the copy of the register of shareholders recording the pledge of the Collateral to the Pledgee without any delay after the execution of the Agreement.

 

3. Rights and Remedies of the Pledgee Upon and After Default.  

(1) When the Debtor must perform the Secured Obligations due to its maturity or acceleration, the Pledgee may execute the enforcement of the pledge, in accordance with Korean Civil Execution Act.

(2) When the Pledgee executes the enforcement of the pledge following the above section (1), the Pledgee shall be entitled to sell the Collateral by means, time, price deemed normally proper, to discharge the Secured Obligations after deducting all costs, fees and expenses, or shall be entitled to acquire the ownership of the Collateral by means, time, price deemed normally proper, by way of either partial or full satisfaction of his claim. In latter case, the Pledgee shall notify the Pledgor immediately of the acquiring the ownership of the Collateral.

 

4. Miscellaneous

(1) The Debtor shall bear all expenses in relation to the pledge pursuant to the Agreement, all expenses incurred by the Pledgee in connection with the exercise, protection or enforcement of the Pledgee’s rights and remedies, and all the expenses deemed similar to the abovementioned expenses.

(2) Other security or guaranty by either the Debtor or the Pledgor, shall not be affected by the Agreement. Any future security or guaranty by either the Debtor or the Pledgor will also not be affected by the Agreement.   

(3) The Agreement shall be governed as to validity, interpretation, effect and in all other respects by the laws of Republic of Korea. The parties hereto agree that Seoul Central District Court in Seoul, Korea shall have exclusive jurisdiction as the competent court of the first instance to hear, settle, 

and/or determine any disputes, controversies, or differences which may arise between the parties out of or in relation to or in connection with the Agreement.

 

(4) If any provision of the Agreement and/or the documents related to it is held invalid, illegal, or unenforceable, the validity, the legality, and the enforceability of the remainder of the Agreement will not be affected.   

 

(5) If the Agreement is drawn in both English and Korean, the Korean version shall prevail the other.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IN WITNESS WHEREOF, the parties have executed and signed the Agreement, in three originals for each to keep, on this 3rd day of March, 2020.

 

	
Pledgee
	
DASAN NETWORKS, INC.
Daewang Pangyo-ro 644 beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Republic of Korea

 

/s/ Min Woo Nam

Name : Min Woo Nam 
Title : Representative Director

 

PledgorDASAN SOLUTIONS, INC.
7195 Oakport Street, Oakland, California 94621, USA

 

/s/ Il Yung Kim

Name: Il Yung Kim             
               Title: Representative Director

 

	
Debtor
	
DASAN NETWORK SOLUTIONS, INC.
Daewang Pangyo-ro 644 beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Republic of Korea

     

/s/ Deuk Yeon Won

Name : Deuk Yeon Won
Title : Representative Director 

 

 

Appendix I

Pledged Shares

		
	
Issuing Company
	
DASAN NETWORK SOLUTIONS, INC.

	
Class of Shares
	
Common Share

	
Value per Share
	
500 KRW

	
Total Number of Shares
	
10,000,000 Shares

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