CANCELLATION OF PROMISSORY NOTE
CANCELLATION OF PROMISSORY NOTE
This Cancellation of Promissory Note (“Cancellation Agreement”) is entered into this 27th day of December, 2013, between San Lotus Holding Inc. (“SLH”) and Yu, Xxxxx-Xxxx (the “Land Seller”).
RECITALS
| A. | WHEREAS, SLH assumed a certain Promissory Note dated as of December 27, 2013 and originally held by Green Forest Management Consulting Inc. in the original principal amount of Two Hundred Million Three Hundred One Thousand Nine Hundred Eighty Five New Taiwan Dollars (TWD $200,301,985), in favor of the Land Seller (the “Note”); |
| B. | WHEREAS, the Land Seller used the funds owed under the Note to subscribe to shares of SLH common stock, which stock was distributed pursuant to the instructions of the Land Seller as indicated on Schedule A attached hereto; |
| C. | WHEREAS, the parties hereto agree that there are no obligations outstanding among the parties whatsoever relating to the Note; and |
| D. | NOW, THEREFORE, the parties hereto desire to cancel the Note. |
AGREEMENT
The Note is hereby terminated and cancelled and is of no further force and effect. The Land Seller hereby agrees to promptly return the Note to SLH.
IN WITNESS WHEREOF, the parties hereto have executed this Cancellation Agreement.
| By: | /s/ Xxxx, Xx Hsing | /s/ Yu, Xxxxx-Xxxx | |
| Xxxx, Xx Xxxxx | Xx, Xxxxx-Xxxx | ||
| Chairman of the Board |
Green Forest Management Consulting Inc.
| By: | /s/ Chiang, Xx-Xxxxx | |
| Chiang, Xx-Xxxxx | ||
| Director |
| 1 |
Schedule A
PURCHASER LIST
| Purchaser | Purchase Amount (TWD) | Purchase Amount(USD) | Purchasing Shares | |||||||||
| Ocean Reserve Ltd. | $ | 3,949,827 | $ | 133,215.1 | 659,154 | |||||||
| Xxxxxx Xxxx Ltd. | $ | 7,601,411 | $ | 256,371.40 | 1,268,537 | |||||||
| Xxxxx Xx Ltd. | $ | 7,601,411 | $ | 256,371.40 | 1,268,537 | |||||||
| Xxxxxxx Xx Ltd. | $ | 7,601,411 | $ | 256,371.40 | 1,268,537 | |||||||
| Xxxxxx Xx Ltd. | $ | 7,601,411 | $ | 256,371.40 | 1,268,537 | |||||||
| Xxxxx Ltd. | $ | 50,934,253 | $ | 1,717,850.00 | 8,500,000 | |||||||
| XXX XXX LTD. | $ | 830,923 | $ | 28,024.40 | 138,666 | |||||||
| UHAO LTD. | $ | 1,024,671 | $ | 34,558.90 | 170,999 | |||||||
| XXXX, XXXX-XXX | $ | 399,480 | $ | 13,473.20 | 66,666 | |||||||
| Joyful Wealth Co., Ltd. | $ | 694,359 | $ | 23,418.50 | 115,876 | |||||||
| Xxxx Xx Ltd. | $ | 152,276 | $ | 5,135.80 | 25,412 | |||||||
| Zhao Li Ltd. | $ | 344,065 | $ | 11,604.20 | 57,418 | |||||||
| FU TAI INTERNATIONAL CORP. | $ | 26,541,372 | $ | 895,155.90 | 4,429,272 | |||||||
| XXXX, XXX-LAN | $ | 119,845 | $ | 4,042.00 | 20,000 | |||||||
| XX,XXXXX-MING | $ | 179,768 | $ | 6,063.00 | 30,000 | |||||||
| CHENG, SU-WEI | $ | 479,381 | $ | 16,168.00 | 80,000 | |||||||
| XX, XXX-XXXX | $ | 29,961 | $ | 1,010.50 | 5,000 | |||||||
| XXX XXXXX, XXXXX-XXX | $ | 599,227 | $ | 20,210.00 | 100,000 | |||||||
| LO, XXXX-XXXX | $ | 395,489 | $ | 13,338.60 | 66,000 | |||||||
| CHENG,SU-HUI | $ | 119,845 | $ | 4,042.00 | 20,000 | |||||||
| KU, FANG-HSIANG | $ | 29,961 | $ | 1,010.50 | 5,000 | |||||||
| XX,XXXX-SHIH | $ | 149,807 | $ | 5,052.50 | 25,000 | |||||||
| LIU,FEN | $ | 59,923 | $ | 2,021.00 | 10,000 | |||||||
| XXXX, XXX-XXXX | $ | 119,845 | $ | 4,042.00 | 20,000 | |||||||
| SUNG, SHAO-FEI | $ | 59,923 | $ | 2,021.00 | 10,000 | |||||||
| XXXXX, XX-WEN | $ | 778,994 | $ | 26,273.00 | 130,000 | |||||||
| XXX, XXXX-CHUAN | $ | 299,613 | $ | 10,105.00 | 50,000 | |||||||
| XXXXX,XXXX-XXXXX | $ | 29,961 | $ | 1,010.50 | 5,000 | |||||||
| LIN,XXXX-XXXX | $ | 1,498,066 | $ | 50,525.00 | 250,000 | |||||||
| XXX XX, LI-FANG | $ | 239,691 | $ | 8,084.00 | 40,000 | |||||||
| CHIANG, YA-YING | $ | 59,923 | $ | 2,021.00 | 10,000 | |||||||
| Benchmark Assets Management Limited | $ | 213,246 | $ | 7,192.10 | 35,587 | |||||||
| SONG,YA-RU | $ | 19,871 | $ | 670.20 | 3,316 | |||||||
| XXXXX, XXXXXX-XXXX | $ | 73,909 | $ | 2,492.70 | 12,334 | |||||||
| XXX,XXXX-LING | $ | 9,989 | $ | 336.90 | 1,667 | |||||||
| XXXXX,XXXXX-YI | $ | 8,323 | $ | 280.70 | 1,389 | |||||||
| LIU,SAN-YU | $ | 22,638 | $ | 763.50 | 3,778 | |||||||
| 2 |
| XXXX,XXXX-PING | $ | 23,969 | $ | 808.40 | 4,000 | |||||||
| PENG, XX-XXXX | $ | 29,961 | $ | 1,010.50 | 5,000 | |||||||
| XXXXX,XXXX-FANG | $ | 24,304 | $ | 819.70 | 4,056 | |||||||
| XXXX,XXXX-JU | $ | 31,986 | $ | 1,078.80 | 5,338 | |||||||
| MagicNLP Ltd. | $ | 975,150 | $ | 32,888.70 | 162,735 | |||||||
| Brilliant Fine Co., Ltd. | $ | 1,597,904 | $ | 53,892.20 | 266,661 | |||||||
| LIN, CHI-PING | $ | 90,848 | $ | 3,064.00 | 15,161 | |||||||
| BABAIYI LTD | $ | 2,459,346 | $ | 82,945.90 | 410,420 | |||||||
| ZHOU, YINZHI | $ | 4,494,199 | $ | 151,575.00 | 750,000 | |||||||
| NING,CHI-WEI | $ | 131,765 | $ | 4,444.00 | 21,989 | |||||||
| XXX,XXX-TZU | $ | 329,509 | $ | 11,113.30 | 54,989 | |||||||
| YIN,CHIEN | $ | 8,664 | $ | 292.20 | 1,446 | |||||||
| XXXXX,XXX-TING | $ | 77,977 | $ | 2,629.90 | 13,013 | |||||||
| HO, XXXX-XXX | $ | 251,441 | $ | 8,480.30 | 41,961 | |||||||
| XXXXX, XXXX-WEN | $ | 35,079 | $ | 1,183.10 | 5,854 | |||||||
| YANG, XXXX-XXXX | $ | 1,056 | $ | 35.60 | 000 | |||||||
| XXXX, XXXXXXXX | $ | 101,946 | $ | 3,438.30 | 17,013 | |||||||
| KAN, XXXX-XXX | $ | 2,176 | $ | 73.40 | 363 | |||||||
| XXXX, XXXX-YI | $ | 6,538 | $ | 220.50 | 1,091 | |||||||
| XXXX, XXXX-LAN | $ | 41,142 | $ | 1,387.60 | 6,866 | |||||||
| XXXX, XXX-HUA | $ | 39,212 | $ | 1,322.50 | 6,544 | |||||||
| LiJin Ltd | $ | 4,119,684 | $ | 138,943.80 | 687,500 | |||||||
| Xxxx'x Ltd | $ | 374,518 | $ | 12,631.30 | 62,500 | |||||||
| XXX,XXX-CHE | $ | 9,989 | $ | 336.90 | 1,667 | |||||||
| XXXX,XXX-TING | $ | 10,031 | $ | 338.30 | 1,674 | |||||||
| LU,XXXXX-XX | $ | 23,382 | $ | 788.60 | 3,902 | |||||||
| XXX, XXXXXXX | $ | 3,745,166 | $ | 126,312.50 | 625,000 | |||||||
| XXX,CHEN-EN | $ | 10,941 | $ | 369.00 | 1,826 | |||||||
| GU,YA-TING | $ | 9,983 | $ | 336.70 | 1,666 | |||||||
| XXXXX,XXXXXXXX | $ | 64,717 | $ | 2,182.70 | 10,800 | |||||||
| XXXXX, XXXXXXXX | $ | 39,950 | $ | 1,347.40 | 6,667 | |||||||
| XXXXX, XXXX-XXXX | $ | 8,534,681 | $ | 287,847.60 | 1,424,283 | |||||||
| XXX, XXXXX-CHE | $ | 19,972 | $ | 673.60 | 3,333 | |||||||
| XXXXX, XXX-XXXX | $ | 665,806 | $ | 22,455.50 | 111,111 | |||||||
| XXX, XXXXX-TSUNG | $ | 319,585 | $ | 10,778.60 | 53,333 | |||||||
| WAN, XXXXX-XXXXX | $ | 133,161 | $ | 4,491.10 | 22,222 | |||||||
| XXX, XXX-YUN | $ | 798,967 | $ | 26,946.60 | 133,333 | |||||||
| XXXX, I-XXXX | $ | 798,967 | $ | 26,946.60 | 133,333 | |||||||
| XXXXX, XXXX-XXXXX | $ | 883,781 | $ | 29,807.10 | 147,487 | |||||||
| LO, HUAI-JUNG | $ | 399,486 | $ | 13,473.40 | 66,667 | |||||||
| XXX, XXX-HAO | $ | 1,424,828 | $ | 48,054.90 | 237,778 | |||||||
| XXXX, XXX-LI | $ | 66,579 | $ | 2,245.50 | 11,111 | |||||||
| XXXX, XX-WEN | $ | 16,646 | $ | 561.40 | 2,778 | |||||||
| XXX, XXXX-CHI | $ | 19,972 | $ | 673.60 | 3,333 | |||||||
| XXX, XXXX-CHIEH | $ | 33,288 | $ | 1,122.70 | 5,555 | |||||||
| XXX, XXX-CHUAN | $ | 665,806 | $ | 22,455.50 | 111,111 | |||||||
| XXXXX, XXXX-XXX | $ | 798,967 | $ | 26,946.60 | 133,333 | |||||||
| LIN, YU-SHAN | $ | 132,909 | $ | 4,482.60 | 22,180 | |||||||
| XXXX, XXX-CHI | $ | 66,579 | $ | 2,245.50 | 11,111 |
| 3 |
| XXX, XXX-XXXXX | $ | 13,316 | $ | 449.10 | 2,222 | |||||||
| HSIEH, LI-CHUAN | $ | 399,486 | $ | 13,473.40 | 66,667 | |||||||
| LIANG, SHIH-JU | $ | 299,613 | $ | 10,105.00 | 50,000 | |||||||
| TAI, XXX-XXX | $ | 395,567 | $ | 13,341.20 | 66,013 | |||||||
| XXXXX, XXXXX | $ | 1,997,420 | $ | 67,366.60 | 333,333 | |||||||
| XXX, XX-WEN | $ | 403,154 | $ | 13,597.10 | 67,279 | |||||||
| XXXX, XXX-XXXX | $ | 402,745 | $ | 13,583.30 | 67,211 | |||||||
| XXXX, XXXX-MING | $ | 610,203 | $ | 20,580.20 | 101,832 | |||||||
| XXXXX, XXXXX-XXXXX | $ | 227,706 | $ | 7,679.80 | 38,000 | |||||||
| XXXXX, XXXXX-YI | $ | 227,706 | $ | 7,679.80 | 38,000 | |||||||
| HU, LIAN-YUN | $ | 119,845 | $ | 4,042.00 | 20,000 | |||||||
| LIN, SU-E | $ | 141,890 | $ | 4,785.50 | 23,679 | |||||||
| CHEN, PING-YU | $ | 80,313 | $ | 2,708.70 | 13,403 | |||||||
| XXXXX, XXXX-LING | $ | 397,737 | $ | 13,414.40 | 66,375 | |||||||
| LAI, ZIH-LING | $ | 397,737 | $ | 13,414.40 | 66,375 | |||||||
| XXX, XXX-XXXX | $ | 256,529 | $ | 8,651.90 | 42,810 | |||||||
| XXXX, XXX-HUNG | $ | 101,869 | $ | 3,435.70 | 17,000 | |||||||
| TANG, CHI-HAO | $ | 259,663 | $ | 8,757.60 | 43,333 | |||||||
| JIANG, YU TU | $ | 310,100 | $ | 10,458.70 | 51,750 | |||||||
| LIN, CHIN CHAI | $ | 584,449 | $ | 19,711.60 | 97,534 | |||||||
| CHEN, YA-FEN | $ | 17,977 | $ | 606.30 | 3,000 | |||||||
| YANG, YU-WEI | $ | 23,969 | $ | 808.40 | 4,000 | |||||||
| WU, XXXX-XX | $ | 5,992 | $ | 202.10 | 1,000 | |||||||
| XXX, XXXX-KUN | $ | 217,717 | $ | 7,342.90 | 36,333 | |||||||
| XXX, XXXX-YI | $ | 39,950 | $ | 1,347.40 | 6,667 | |||||||
| Guyi Ltd. | $ | 798,967 | $ | 26,946.60 | 133,333 | |||||||
| LIAO, PEN-CHUN | $ | 299,613 | $ | 10,105.00 | 50,000 | |||||||
| XXXXX, XXXX-YEN | $ | 519,332 | $ | 17,515.40 | 86,667 | |||||||
| XXXX, XXX-XXXX | $ | 39,950 | $ | 1,347.40 | 6,667 | |||||||
| XXXX, XX-RU | $ | 39,950 | $ | 1,347.40 | 6,667 | |||||||
| XXXXX, XXXX-CHI | $ | 79,895 | $ | 2,694.60 | 13,333 | |||||||
| Aeki Ltd. | $ | 95,114 | $ | 3,207.90 | 15,873 | |||||||
| XXXXX, XXXX-XXXX | $ | 95,114 | $ | 3,207.90 | 15,873 | |||||||
| LI, CHINE-LIN | $ | 19,026 | $ | 641.70 | 3,175 | |||||||
| Fuxin Ltd. | $ | 123,649 | $ | 4,170.30 | 20,635 | |||||||
| KO, BO-CHENG | $ | 39,950 | $ | 1,347.40 | 6,667 | |||||||
| LU, HUNG-CHIEH | $ | 32,215 | $ | 1,086.50 | 5,376 | |||||||
| LIN, PING-YI | $ | 79,901 | $ | 2,694.80 | 13,334 | |||||||
| XXX, PO-MING | $ | 74,905 | $ | 2,526.30 | 12,500 | |||||||
| TSAI, XXXXX-XXX | $ | 11,985 | $ | 404.20 | 2,000 | |||||||
| XXX, XXXXX-XXX | $ | 59,923 | $ | 2,021.00 | 10,000 | |||||||
| TSENG, LI-FU | $ | 44,517 | $ | 1,501.40 | 7,429 | |||||||
| XXXX, XXXX-YI | $ | 19,978 | $ | 673.80 | 3,334 | |||||||
| XX, XXXX-YUN | $ | 39,950 | $ | 1,347.40 | 6,667 | |||||||
| XX, XXX-TZU | $ | 515,459 | $ | 17,384.80 | 86,021 | |||||||
| XXX, XXXX-PENG | $ | 951,151 | $ | 32,079.30 | 158,730 | |||||||
| Kajar Tsai Ltd. | $ | 332,901 | $ | 11,227.70 | 55,555 | |||||||
| KUO, XXX-XXXX | $ | 59,923 | $ | 2,021.00 | 10,000 |
| 4 |
| LIN, LIEH-HUI | $ | 59,923 | $ | 2,021.00 | 10,000 | |||||||
| Xxxx Xxxxx-An | $ | 59,923 | $ | 2,021.00 | 10,000 | |||||||
| XXXX, XXXX-XXX | $ | 59,923 | $ | 2,021.00 | 10,000 | |||||||
| WEI, TZU-NING | $ | 279,611 | $ | 9,430.40 | 46,662 | |||||||
| Xxxx, Xxx-Yu | $ | 419,459 | $ | 14,147.00 | 70,000 | |||||||
| Show King Holdings Inc | $ | 1,141,382 | $ | 38,495.20 | 190,476 | |||||||
| WANG XXXX XX | $ | 172,302 | $ | 5,811.20 | 28,754 | |||||||
| XXX XXXX WEI | $ | 863,310 | $ | 29,116.70 | 144,071 | |||||||
| XXXXX XXX XXXXX | $ | 172,901 | $ | 5,831.40 | 28,854 | |||||||
| XXXXX XXX CHE | $ | 172,901 | $ | 5,831.40 | 28,854 | |||||||
| XXXX XXXXXX XXXXX XXX | $ | 231,955 | $ | 7,823.10 | 38,709 | |||||||
| Allegro Equity Ltd. | $ | 5,271,174 | $ | 177,779.90 | 879,663 | |||||||
| Bellini Ventures Ltd. | $ | 7,490,331 | $ | 252,625.00 | 1,250,000 | |||||||
| Tree of Knowledge Ltd. | $ | 2,996,133 | $ | 101,050.00 | 500,000 | |||||||
| XXXX, XXX-SHENG | $ | 433,839 | $ | 14,632.00 | 72,400 | |||||||
| XXX, XXXX-MIN | $ | 10,247 | $ | 345.60 | 1,710 | |||||||
| KUAN, XXXXX-XX | $ | 59,923 | $ | 2,021.00 | 10,000 | |||||||
| ANCLA Ltd. | $ | 2,996,133 | $ | 101,050.00 | 500,000 | |||||||
| FUI XXXXXX | $ | 2,996,133 | $ | 101,050.00 | 500,000 | |||||||
| 13 Fangs Ltd | $ | $2,996,133 | $ | 101,050.00 | 500,000 | |||||||
| Xxxxx Xxxx Ltd. | $ | 2,996,133 | $ | 101,050.00 | 500,000 | |||||||
| Xxxx Xxxxxxxx | $ | 299,613 | $ | 10,105.00 | 50,000 | |||||||
| Total: | $ | 200,301,985 | $ | 6,755,547.6 | 33,426,757 |
| 5 |
