Finance Lease Agreement

No : 2019-00208-000
Date :

We hereby consists of :

The Lessor: VIETNAM INTERNATIONAL LEASING COMPANY LIMITED

Suite 902, Centec Tower, 72-74 Nguyen Thi Minh Khai Street, Ward 6, District 3, Hochiminh City, Vietnam
Establishment License No 117/NHNN-GP dated 24th April 2008; granted by the Governor of State Bank
of Vietnam and its supplements/amendments.
The Lessee: SNY VINA CO., LTD
No. 74/1 Road DT743, Phu Hoa ward, Thu Dau Mot city, Binh Duong province
Business Registration Certificate No. 3701693051 , dated 16/03/2010 , issued by
Planning & Investment Department of Binh Duong province

The Guarantor(s): YOON HAE KIM

No. 74/1 Road DT743, Phu Hoa ward, Thu Dau Mot city, Binh Duong province.

Together sign Lease Agreement with terms and conditions set forth hereinafter and make this Agreement to executed in
duplicate or triplicate (in case of Guarantor’s presence) by their legally or duly authorized representatives of Lessor, Lessee,
and Guarantor (if any). Each party hereto shall keep a copy.

On behalf of Lessor On behalf of Lessee

Vietnam International Leasing Company Limited SNY VINA CO., LTD

Authorized representative Authorized representative

Name: Name:
Title: Title:

Guarantor(s)

YOON HAE KIM

Name:
Title:
A. Lease terms:
1. Equipment: As per the List of Equipment attached.
(Article 1)
2. Currency: VND
3. Acquisition cost (estimated): VND 3,865,100,000.00
(Article 6, 21)
4. Lease term: 48 months.
(Article 2)
5. Interest rate: 7.47000 % p.a. Where: The base rate: 7.47000 % p.a.
The designated rate: 0.00000 % p.a.
The interest rate is the aggregate of the base rate and the designated rate. The base rate for VND currency is adjustable and
calculated by averaging the interest rate of thirteen-month time deposit, interest payable at maturity date, applicable for
individual of three banks include Vietcombank Main Transaction Office, ACB main Transaction Office and Sacombank
Main Transaction Office.
The effective date for interest calculation is the commencement date of each lease payment. In case the commencement date
of the lease payment falls on holiday, the interest rate applied will be the interest rate of the day right before the holiday.
If there is no thirteen-month time deposit interest rate offered, the alternative rate shall be the one of which ever term is
closest to thirteen months. If both more-than and less-than closest term to thirteen months are available, the more-than-closest
one shall be applied.
The interest portion of the lease payment shall be determined by the actual number of days leased and the aforementioned
interest rate. For the purpose of calculating the amount of interest, one year is assumed to have 365 days.

6. Interim interest rate: 7.47000 % p.a. Where: The base rate: 7.47000 % p.a.
The designated rate: 0.00000 % p.a.

The interim interest rate is the aggregate of the base rate and the designated rate. The base rate is subject to the above article.
The designated rate is offered by Lessor basing on the length of interim period and status of fund of Lessor. Lessee shall pay
interim interest to Lessor, interim interest shall be calculated basing on the interim interest rate and the date of each
disbursement to the Commencement Date. The base amount that bears interim interest shall be the difference between the
amount Lessor has paid to supplier and the downpayment of Lessee.

7. Method of payment of lease payments: Monthly payment in arrear

8. Lease payments (estimated): As per the estimated Lease Payment Schedule enclosed
(Article 3, 21)
The above lease payments have been calculated on the basis of the interest rate, method of payment of lease payments,
acquisition cost and lease term as herein specified. The final amounts of lease payments shall be calculated when the
Acquisition Cost is finally determined. The amounts of actual lease payments shall be subject to change and adjustment
depending on the base rate applied for each lease payment.
The lease payment No. 1 is the downpayment and it shall be paid upon signing the Lease Agreement.

9. Residual value: 0.50 % of Aquisition cost.

At the expiration of the Lease Term, Lessee shall purchase the Equipment at the herein specified Residual Value, which shall
not include any fees, costs, taxes or other charges. Lessor may without notice to or the consent of Lessee, apply the Security
Deposit to the payment of the Residual Value at the termination of Lease Agreement. Lessee shall bear all fees, costs, taxes
or other charges with respect to the ownership transfer of the Equipment at the expiration of the Lease Term.

10. Default interest rate: 150% of the interest rate, currently is 11.20500 % p.a.

11. Promissory notes, Checks: Not applicable.

(Article 9)
12. Security deposit: 15.00000 % of Acquisition cost.

13. Insurance (Article 12): Lessor shall be responsible to buy Fire and special perils insurance and machinery breakdown insurance
for the whole Lease Term.

14. Security: Not applicable

(Article 24)
15. Commitment fee: 0.00 % of Acquisition cost.

On the signing of this Agreement, Lessee shall pay in cash or/and by bank transfer to Lessor the herein specified
commitment fee, which shall not be refunded in any cases.
All expressions used in the part A bear the same meaning as in part B which, except as modified in part A, remains in full
force and effect.
LIST OF EQUIPMENT
Attached to the Lease Agreement No. 2019-00208-000 , dated

No Description Unit Quantity Supplier Place of installation

1 Knitting machine Daeshin (6.85M), model DSSR4, new 100%, unit 1 SNY VINA CO., LTD No. 74/1 Road DT743, Phu Hoa Ward, Thu Dau
YOM 2019, Korea origin Mot cCty, Binh Duong Province, VietNam
Lease Payment Schedule (estimated)
Attached to the Lease Agreement No. 2019-00208-000 , dated

No Beginning Principal Interest Lease payment Ending balance

AC 3,865,100,000 0 0 0 3,865,100,000
1 3,865,100,000 579,765,000 0 579,765,000 3,285,335,000
2 3,285,335,000 68,444,480 20,171,057 88,615,537 3,216,890,520
3 3,216,890,520 68,444,480 20,409,188 88,853,668 3,148,446,040
4 3,148,446,040 68,444,480 19,974,950 88,419,430 3,080,001,560
5 3,080,001,560 68,444,480 18,280,021 86,724,501 3,011,557,080
6 3,011,557,080 68,444,480 19,106,474 87,550,954 2,943,112,600
7 2,943,112,600 68,444,480 18,069,906 86,514,386 2,874,668,120
8 2,874,668,120 68,444,480 18,237,998 86,682,478 2,806,223,640
9 2,806,223,640 68,444,480 17,229,445 85,673,925 2,737,779,160
10 2,737,779,160 68,444,480 17,369,522 85,814,002 2,669,334,680
11 2,669,334,680 68,444,480 16,935,284 85,379,764 2,600,890,200
12 2,600,890,200 68,444,480 15,968,754 84,413,234 2,532,445,720
13 2,532,445,720 68,444,480 16,066,807 84,511,287 2,464,001,240
14 2,464,001,240 68,444,480 15,128,293 83,572,773 2,395,556,760
15 2,395,556,760 68,444,480 15,198,331 83,642,811 2,327,112,280
16 2,327,112,280 68,444,480 14,764,093 83,208,573 2,258,667,800
17 2,258,667,800 68,444,480 12,943,095 81,387,575 2,190,223,320
18 2,190,223,320 68,444,480 13,895,617 82,340,097 2,121,778,840
19 2,121,778,840 68,444,480 13,027,141 81,471,621 2,053,334,360
20 2,053,334,360 68,444,480 13,027,141 81,471,621 1,984,889,880
21 1,984,889,880 68,444,480 12,186,681 80,631,161 1,916,445,400
22 1,916,445,400 68,444,480 12,158,665 80,603,145 1,848,000,920
23 1,848,000,920 68,444,480 11,724,427 80,168,907 1,779,556,440
24 1,779,556,440 68,444,480 10,925,989 79,370,469 1,711,111,960
25 1,711,111,960 68,444,480 10,855,951 79,300,431 1,642,667,480
26 1,642,667,480 68,444,480 10,085,529 78,530,009 1,574,223,000
27 1,574,223,000 68,444,480 9,987,475 78,431,955 1,505,778,520
28 1,505,778,520 68,444,480 9,553,237 77,997,717 1,437,334,040
29 1,437,334,040 68,444,480 8,236,515 76,680,995 1,368,889,560
30 1,368,889,560 68,444,480 8,684,761 77,129,241 1,300,445,080
31 1,300,445,080 68,444,480 7,984,377 76,428,857 1,232,000,600
32 1,232,000,600 68,444,480 7,816,285 76,260,765 1,163,556,120
33 1,163,556,120 68,444,480 7,143,916 75,588,396 1,095,111,640
34 1,095,111,640 68,444,480 6,947,809 75,392,289 1,026,667,160
35 1,026,667,160 68,444,480 6,513,571 74,958,051 958,222,680
36 958,222,680 68,444,480 5,883,225 74,327,705 889,778,200
37 889,778,200 68,444,480 5,645,095 74,089,575 821,333,720
38 821,333,720 68,444,480 5,042,765 73,487,245 752,889,240
39 752,889,240 68,444,480 4,776,619 73,221,099 684,444,760
40 684,444,760 68,444,480 4,342,381 72,786,861 616,000,280
 41 616,000,280 68,444,480 3,529,935 71,974,415 547,555,800
42 547,555,800 68,444,480 3,473,905 71,918,385 479,111,320
43 479,111,320 68,444,480 2,941,613 71,386,093 410,666,840
44 410,666,840 68,444,480 2,605,428 71,049,908 342,222,360
45 342,222,360 68,444,480 2,101,152 70,545,632 273,777,880
46 273,777,880 68,444,480 1,736,952 70,181,432 205,333,400
47 205,333,400 68,444,480 1,302,714 69,747,194 136,888,920
48 136,888,920 68,444,480 840,461 69,284,941 68,444,440
49 68,444,440 68,444,440 420,231 68,864,671 0

Total : 3,865,100,000 501,250,781 4,366,350,781