Convertible Bond Subscription Agreement

This article is intended to give a quick overview and explanation of the most important documents during a fundraiser where investors buy convertible bonds. Unlike a stock transaction, these convertible bonds do not change the capitalization of the company by adding new shareholders until the debt is converted into equity. A note subscription is very similar to a note purchase agreement (above) – most of the time it`s just a naming convention. However, you will sometimes see subscription agreements used to add some of the more complex terms of a bond of the bond itself into a separate subscription contract, so the bond and subscription agreement work as the two halves of a convertible debt transaction. The effect of doing it this way is the same, it only allows for a simpler note and more in-depth processing of the conversion mechanics in a more traditional contract format. The main difference between the two documents is that the ASA has no interest rate and has no obligation to repay the amount within a set period of time. The ASA therefore offers the possibility of reaping certain benefits from a convertible bond structure without some of the restrictions inherent in a typical convertible bond. Subscribers of the company at 10.m, Seoul, Korea, on the closing date in funds on the same day. 3. Closure 3.1 Deadline and place of sending. The closing of the issuance and subscription of the Convertible Bonds (“closing”) shall be carried out at the offices of one of the subscribers or at any other place agreed between the parties, at another place agreed between the parties, around 10.m Seoul, Korean time, on April 12, 2007 or on any other date agreed between the parties (the “Closing Date”). 3.2 Closing conditions.

. .