Submitted by SM to the Financial Supervisory Service
1. Title of Incident
Exclusive Contract Invalidity Confirmation
2. PlaintiffㆍApplicant
Kim Jaejoong, Kim Junsu, Park Yoochun (Members of TVXQ)
3. Contents of Lawsuit
* 1. To confirm that the effectiveness of the exclusive contract between the plaintiffs and the defendant is no longer valid.
* 2. The defendant must pay each plaintiff 1,000,000,000 Won and must pay an interest of 20% per year from the day after an initial payment is made until the money is fully paid.
* 3. Clause 2 may be executed provisionally.
* 4. All lawsuit expenses will be covered by the defendant.
4. Compensation Amount
* Compensation Amount (Won): 3,000,000,000 Won
* Equity Capital (Won): 63,375,222,440 Won
* Ratio of Equity Capital (%): 4.7%
5. Competent Court
Seoul District Courts
6. Countermeasures to be Taken
The company in question will actively deal with this incident through their legal advisers with the lawsuit and claim for damages that were filed on April 12th, 2010 by the company in question.
7. Date the Lawsuit was Submitted
2010-06-25
8. Date the Lawsuit was Confirmed
2010-06-29
Source: [Financial Supervisory Service+DNBN]
Translation credits: jeeelim5@tohosomnia.net
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