CANCELLATION OF PROMISSORY NOTE
This Cancellation of Promissory Note ("Cancellation Agreement") is entered into August 11, 2014, between San Lotus Holding Inc. ("SLH") and Lo, Fun-Ming, Yu, Xxxxx-Xxxx, and Mao Ren International Inc. (the "Land Sellers").
R E C I T A L S
A. WHEREAS, SLH assumed a certain Promissory Note dated as of ugust 11, 2014 and originally held by Green Forest Management Consulting Inc. in the original principal amount of Three Billion Three Hundred Sixty Nine Million Three Hundred Three Thousand Six Hundred Ninety Three New Taiwan Dollars (TWD $3,369,303,693), in favor of the Land Sellers (the "Note");
B. WHEREAS, the Land Sellers 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 Sellers 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.
A G R E E M E N T
The Note is hereby terminated and cancelled and is of no further force and effect. The Land Sellers hereby agree to promptly return the Note to SLH.
IN WITNESS WHEREOF, the parties hereto have executed this Cancellation Agreement.
/s/ Lo, Fun-Ming
By: /s/ Xxxx, Xx Hsing Lo, Fun-Xxxx
Xxxx, Xx Xxxxx
Chairman of the Board
/s/ Xx, Xxxxx-Xxxx
Xx, Xxxxx-Xxxx
Green Forest Management Consulting Inc.
Mao Ren International Inc
By: /s/ Chiang, Xx-Xxxxx
Chiang, Xx-Xxxxx
Director By: /s/ Xxxx, Xxxx-Xx
Xxxx, Kuan-Yu
Chairman of Board
Mao Ren International Inc.
Xx. 000 Xxxxxxx Xxxxx Xx.,
Xxxxxx Xxxx., Xxxxxxxx Xxxx, Xxxxxx (R.O.C.)
1
Schedule A
PURCHASER LIST
|
|
Purchaser |
|
Purchase Amount(TWD) |
|
Purchase Amount(USD) |
|
Purchasing Shares |
|
1 |
LO, FUN MING |
|
$1,917,695,123 |
|
$63,508,250.20 |
|
226,491,620 |
|
2 |
XXXX XXXX LTD |
|
$415,138,026 |
|
$13,748,113.20 |
|
49,030,361 |
|
0 |
XXXXX, XXXXX-XXXXX |
|
$373,866 |
|
$12,381.30 |
|
44,156 |
|
4 |
XXX, XXXX-ER |
|
$560,800 |
|
$18,572.00 |
|
66,234 |
|
5 |
KAO, XX-XXXX |
|
$84,670 |
|
$2,804.00 |
|
10,000 |
|
6 |
XXXXX, XXXX-XXXXX |
|
$592,687 |
|
$19,628.00 |
|
70,000 |
|
7 |
LAI, FU-HSIUNG |
|
$70,097 |
|
$2,321.40 |
|
8,279 |
|
8 |
LIAO, PO-CHAN |
|
$70,097 |
|
$2,321.40 |
|
8,279 |
|
9 |
XXXXX, XXXX-YEN |
|
$8,467 |
|
$280.40 |
|
1,000 |
|
10 |
XXX, XXXXXX-XXXX |
|
$5,647 |
|
$187.00 |
|
667 |
|
11 |
TING, YI-PING |
|
$8,467 |
|
$280.40 |
|
1,000 |
|
12 |
Ocean Reserve Ltd. |
|
$514,675,218 |
|
$17,044,483.30 |
|
60,786,317 |
|
13 |
YU, XXXXX-XXXX |
|
$50,487,881 |
|
$1,672,005.60 |
|
5,962,930 |
|
14 |
Xx Xxxxxx Business Management Consultant Co., Ltd |
|
$2,804,004 |
|
$92,860.10 |
|
331,170 |
|
15 |
UHAO LTD. |
|
$10,960,502 |
|
$362,978.60 |
|
1,294,503 |
|
16 |
XXXX, XXXX-XXX |
|
$535,873 |
|
$17,746.50 |
|
63,290 |
|
17 |
Joyful Wealth Co., Ltd. |
|
$2,747,927 |
|
$91,003.00 |
|
324,547 |
|
00 |
XX, XXXXX-XXX |
|
$58,668 |
|
$1,942.90 |
|
6,929 |
|
19 |
XXXXX, XXXX-MAO |
|
$169,339 |
|
$5,608.00 |
|
20,000 |
|
20 |
XXXXX, XX-XXXXX |
|
$84,670 |
|
$2,804.00 |
|
10,000 |
|
21 |
XXXX, XXXX-FENG |
|
$84,670 |
|
$2,804.00 |
|
10,000 |
|
22 |
XXXXX, XXXX-XXXX |
|
$127,004 |
|
$4,206.00 |
|
15,000 |
|
23 |
XXXX, XXXX-MING |
|
$84,670 |
|
$2,804.00 |
|
10,000 |
|
24 |
XXXX, XXXX-PING |
|
$55,035 |
|
$1,822.60 |
|
6,500 |
|
25 |
Fuxin Ltd. |
|
$55,035 |
|
$1,822.60 |
|
6,500 |
|
26 |
KUO, MAN-YU |
|
$16,934 |
|
$560.80 |
|
2,000 |
|
00 |
XXXXX XXX, XXXX-XXX |
|
$84,670 |
|
$2,804.00 |
|
10,000 |
|
28 |
XXXXX, XXXX-FENG |
|
$84,670 |
|
$2,804.00 |
|
10,000 |
|
29 |
BABAIYI LTD |
|
$161,280 |
|
$5,341.10 |
|
19,048 |
|
30 |
XXX,XXX-TZU |
|
$279,410 |
|
$9,253.20 |
|
33,000 |
|
31 |
Xxxxxx Xxxx Ltd. |
|
$42,426,878 |
|
$1,405,049.60 |
|
5,010,876 |
|
32 |
Xxxxx Xx Ltd. |
|
$42,426,878 |
|
$1,405,049.60 |
|
5,010,876 |
|
33 |
Xxxxxxx Xx Ltd. |
|
$42,426,878 |
|
$1,405,049.60 |
|
5,010,876 |
|
34 |
Xxxxxx Xx Ltd. |
|
$42,426,878 |
|
$1,405,049.60 |
|
5,010,876 |
|
35 |
Gu Gu Gu Ltd. |
|
$21,213,439 |
|
$702,524.80 |
|
2,505,438 |
|
36 |
Xxx Xxxx Ltd. |
|
$42,122,067 |
|
$1,394,955.20 |
|
4,974,876 |
|
37 |
New Bela Ltd. |
|
$6,517,028 |
|
$215,824.20 |
|
769,701 |
|
38 |
Xxxxx Xxxxx |
|
$846,696 |
|
$2,804 |
|
100,000 |
|
|
Total |
|
$3,369,303,693 |
|
$111,581,126.30 |
|
397,935,544 |
