1、ACCOUNTING SERVICES AGREEMENTTHIS ACCOUNTING SERVICES AGREEMENT (this “Agreement”) is made effective as of March 1, 2016BETWEEN:XX Korea (the “Client”), a company organized and existing at:802, A-Dong INNOVALLEY, 253, Pangyo-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, KoreaAND:XX Corporation, (the “Ac
2、counting Firm”) an Accounting Firm organized and existing at:9th Floor, GangnamJeil-Bld, 109 Teheran-ro, Gangnam-gu, Seoul, Korea NOW, THEREFORE, in consideration of the mutual covenants set forth herein and intending to be legally bound, the parties hereto agree as follow;1. SERVICESThe Accounting
3、Firm hereby agrees to provide the following services to Client (the “Service”). 1) Making accounting note and preparing for financial statement2) Bookkeeping3) Reporting of payroll and social security insurance 4) Monthly financial reporting to parentrelevant company5) Filling out VAT declaration 6)
4、 Corporate Tax Return7) Real time communication (QQ online chatting program)The term of Service is for six months , from March 1, 2016 to August 31, 2016.2. PAYMENTThe Client agrees to pay the Accounting Firm for services at the following rates:1) During the term of this Agreement, Client shall pay
5、the Accounting Firm for the Services under this Agreement for the sum of KRW 1,100,000/month(VAT included) from March 1, 2016 to August 31, 2016. Payment shall be made and including the execution date of this Agreement (which execution date shall be the initial payment date).In the event of earlier
6、termination due to the Clients causes, payment shall not be refundable.2) The payment for corporate tax return in accordance to this Agreement is basically as below (VAT included), and the Client has to pay the above mentioned payment to the Accounting Firm until the due date for corporate tax retur
7、n period.(Unit: KRW)Sales amount in previous yearBasic FeeAdditional FeeNot more than 100,000,0001,100,000N/A100,000,000 500,000,0001,100,000Excess over 100,000,000 x 0.14%500,000,000 1,000,000,0001,716,000Excess over 500,000,000 x 0.10%Above 1,000,000,0002,266,000Excess over 1,000,000,000 x 0.08%3.
8、 TERMSThis Agreement is effective from above to the date after six month.Thereafter,this Agreement shall be extended automatically for successive periods unlesseither party gives the other party notice of non-extension in writing one month prior to the expirationof the original or any extended term
9、of this Agreement.4. DUTIESThe Accounting Firm shall perform the following duties:provide necessary documents, provide reasonable and appropriate accounting services in accordance with Korean Accounting Principal.5. CONFIDENTIALITYThe Accounting Firm shall not, during the term of this Agreement, dis
10、close any proprietary or confidential information relating to the Services, this Agreement or the Clients business or operations without the prior consent of the Client and obligation to disclose Confidential Information by law or by court or governmental order.6. RESPONSIBILITIES OF TERMINATION(a)
11、In case of termination due to the Clients causes, the Accounting Firm shall not be liable for tax related affairs that may arise after this Agreement has been terminated.(b) If the Accounting Firm is unable to perform the duties laid out in this Agreement due to its causes, the Accounting Firm shall
12、 review all tasks performed up to that point in time and conclude the remaining tasks under this Agreement after reaching a mutual agreement.7. FAILURE TO PERFORM (a) If the Accounting Firm is not able to perform a task set forth in this Agreement due to deficiencies in the material provided by the
13、Client, or due to the receipts of any other material that is misleading, the Accounting Firm shall not be liable for the Services. In this case, however, the Client shall be liable for the monthly payment to the Accounting Firm.(b) In the case of inability to perform a task due to natural calamities
14、, neither the Client nor the Accounting Firm shall bear the responsibility for the inability.8. EXEMPTION FROM RESPONSIBILITY(a) The occurrence of the Client not providing the material required for the Accounting Firms Service at the appropriate time, or providing any inappropriate material, the Cli
15、ent takes all the responsibility for the problems caused by the above mentioned circumstances.(b) If the Client has an objection after thoroughly reviewing the content of bookkeeping, the Client shall inform the Accounting Firm immediately, or else the Client may not claim any compensation regarding
16、 the content of bookkeeping against the Accounting Firm. However, if it is proved that the Accounting Firm has caused the Client any damage intentionally or negligently, the Accounting Firm shall compensate the Client the amount limited up to the payment made for bookkeeping as mentioned in Article
17、2 for the period during which the Accounting Firm is proved to have caused such damage. 9. OWNERSHIP OF REPORTS AND INTELLECTUAL PROPERTYThe Accounting Firm has the ownership of reports and other electronic documents provided by the firm during the performance of service.10. OTHERSThe particulars th
18、at are not defined in this Agreement shall be cooperatively decided upon by both the Client and the Accounting Firm in accordance with general commercial custom.11. EFFECTIVE DATEThis Agreement shall take effect from the execution date of this Agreement. Provided that Service that was provided prior
19、 to the execution date of this Agreement shall be deemed to have been provided pursuant to this Agreement.This document will be photo-copied, two copies, and held by CLIENT and ACCOUNTING FIRM after they are signed and sealed.IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
20、the(Date) 3, 1, 2016 CLIENTName : XX Korea Co., Ltd.Address: 802, A-Dong INNOVALLEY, 253, Pangyo-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, KoreaTitle: (Signature/Seal)ACCOUNTING FIRMName : XX CorporationAddress: 9th Floor, GangnamJeil-Bld, 109 Teheran-ro, Gangnam-gu, Seoul, KoreaTitle: (Signature/Seal)