As-is

To-be

Article 2 Definitions

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(9) “Launch on STOVE” means registering and posting of the Product on STOVE by the Partner through STOVE Studio.
 
(21) “Service” means content release service, management and operation service, and other services provided by the Company through STOVE and STOVE Studio.

Article 2 Definitions

(1) “Accrued Gross Revenue” means the aggregate amount of Gross Revenue generated during the period the Product is Launched on Stove. For the avoidance of doubt, Accrued Gross Revenue as used to determine the applicable Stove Fee shall be calculated in Korean Won (KRW). If an End User’s payment amount is not in KRW, the amount will be converted into KRW by applying the initial exchange rate (the relevant currency-KRW) announced by the Seoul Money Brokerage Services Co., Ltd. on the last business day of the month in which the End User’s payment occurred.

(10)[강김1] [SGL2]  “Launch on STOVE” means registering and posting of the Product on STOVE by the Partner through STOVE Studio.

(22)       “Service” means content release and distribution service, management and operation service, and other services provided by the Company through STOVE and STOVE Studio.

Article 10 Settlement and Payment

1. Eighty-five percent (85%) of the Net Revenue generated through the Product will be allocated to the Partner, and the remaining fifteen percent (15%) will be allocated to the Company as the STOVE Fee. The Company may handle various tasks related to settlement and payment in accordance with this clause by using StovePay. If the partner receives the partner payment through the settlement and payment services provided by StovePay, the Company is considered to have fulfilled its settlement and payment obligations under this clause (hereinafter, the "Company" shall be deemed as "StovePay" as used in this Article).

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Article 10 Settlement and Payment

1. Eighty percent (80%) of the Net Revenue generated through the Product will be allocated to the Partner, and the remaining twenty percent (20%) will be allocated to the Company as the STOVE Fee. However, in the cases specified below, adjusted STOVE Fee shall be applied to the Net Revenue generated from the Product to determine the amount to be allocated to the Partner.

1. Discount for the Accrued Gross Revenue below KRW 1 billion

1. If and so long as the Accrued Gross Revenue is less than KRW 1 billion, the Partner will be allocated eighty-five percent (85%) of the Net Revenue, while the remaining fifteen percent (15%) will be allocated to the Company as the STOVE Fee. 
2. For the avoidance of doubt, if and once the Accrued Gross Revenue as of any month (M) equals or exceeds KRW 1 billion, the STOVE Fee shall be reverted to the base rate of twenty percent (20%) (with eighty percent (80%) of the Net Revenue allocated to the Partner), starting from 00:00 (GMT+9) on the first day of the following month (M+1). 
3. For the avoidance of further doubt, if, after the STOVE Fee is reverted to the base rate of twenty percent (20%) pursuant to the preceding subsection (ii), the Accrued Gross Revenue as of any subsequent month (N) falls below KRW 1 billion due to refunds or other adjustments, the STOVE Fee shall be reduced to fifteen percent (15%) (with eighty-five percent (85%) of the Net Revenue allocated to the Partner) starting from 00:00 (GMT+9) on the first day of the following month (N+1), until the preceding subsection (ii) becomes applicable again.
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4. Discount for the Accrued Gross Revenue of KRW 200 billion or higher 
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5. If and so long as the Accrued Gross Revenue equals or exceeds KRW 200 billion, the Partner will be allocated eighty-two percent (82%) of the Net Revenue, while the remaining eighteen percent (18%) will be allocated to the Company as the STOVE Fee. 
6. If the Accrued Gross Revenue as of any month (M) equals or exceeds KRW 200 billion, the STOVE Fee shall be adjusted to eighteen percent (18%) (with eighty-two percent (82%) of the Net Revenue allocated to the Partner) starting from 00:00 (GMT+9) on the first day of the following month (M+1).
7. If, after the STOVE Fee is adjusted pursuant to the immediately preceding subsection (i) above, the Accrued Gross Revenue for any subsequent month (N) falls below KRW 200 billion due to refunds or other adjustments, the STOVE Fee shall revert to the base rate of twenty percent (20%) (with eighty percent (80%) of the Net Revenue allocated to the Partner) starting from 00:00 (GMT+9) on the first day of the following month (N+1), until the preceding subsection (i) becomes applicable again.

The Company may handle various tasks related to settlement and payment in accordance with this clause by using StovePay. If the Partner receives the partner payment through the settlement and payment services provided by StovePay, the Company is considered to have fulfilled its settlement and payment obligations under this clause (hereinafter, the “Company” shall be deemed as “StovePay” as used in this Article).