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LPL » Topics » Transaction with the Largest Shareholder, etc.

This excerpt taken from the LPL 6-K filed Feb 5, 2008.

Transaction with the Largest Shareholder, etc.

1. Name : LG Corp.

 

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Relation with LG.Philips LCD Co., Ltd. : Affiliated company

2. Transaction : Renewal of Trade Mark License Agreement

 

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Licensee : LG.Philips LCD Co., Ltd.

 

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Licensor : LG Corp.

3. Term of the Agreement : January 1, 2008 ~ December 31, 2010

4. Resolution of the Board of Directors

 

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Date : February 4, 2008

 

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Attendance of Outside Directors : 5 out of 5 outside directors

 

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Attendance of Audit Committee Members : 3 out of 3 audit committee members

5. Other information

 

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As the Trade Mark License Agreement that was entered into in July   , 2004 has expired, the Trade Mark License Agreement is being renewed for 3 years and is subject to re-negotiation thereafter.

 

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License fee*

(1) January 1, 2008 ~ June 30, 2008

: [(Gross Revenue** – Advertising Expense**) × 0.1%]

(2) July 1, 2008 ~ December 31, 2010

: [(Gross Revenue** – Advertising Expense**) × 0.2%]

 

* License fee was determined considering preparation period for change of trade name.
** Gross Revenue and Advertising Expense are on a consolidated basis.

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