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,
Chien-Yang (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.

 

San Lotus Holding Inc.

 

By: /s/ Chen, Li Hsing   /s/ Yu, Chien-Yang   Chen, Li Hsing   Yu, Chien-Yang  
Chairman of the Board    

 

Green Forest Management Consulting Inc.

 

By: /s/ Chiang, Yu-Chang     Chiang, Yu-Chang     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  Daphne
Chen  Ltd.  $7,601,411   $256,371.40    1,268,537  Rocky Yu  Ltd.  $7,601,411  
$256,371.40    1,268,537  Jackson Yu  Ltd.  $7,601,411   $256,371.40  
 1,268,537  Dennis Yu  Ltd.  $7,601,411   $256,371.40    1,268,537  Yates Ltd. 
$50,934,253   $1,717,850.00    8,500,000  WEI CHI LTD.  $830,923   $28,024.40  
 138,666  UHAO LTD.  $1,024,671   $34,558.90    170,999  CHEN, MING-CHU 
$399,480   $13,473.20    66,666  Joyful Wealth Co., Ltd.  $694,359  
$23,418.50    115,876  Wang Yi 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  TUNG, HAO-LAN  $119,845   $4,042.00    20,000 
WU,CHANG-MING  $179,768   $6,063.00    30,000  CHENG, SU-WEI  $479,381  
$16,168.00    80,000  WU, PEI-CHEN  $29,961   $1,010.50    5,000  HSU
HUANG,  CHENG-TZU  $599,227   $20,210.00    100,000  LO, CHEN-LIEN  $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  WU,YING-SHIH  $149,807   $5,052.50  
 25,000  LIU,FEN  $59,923   $2,021.00    10,000  TSAI, HUI-CHAN  $119,845  
$4,042.00    20,000  SUNG, SHAO-FEI  $59,923   $2,021.00    10,000  CHANG,
YI-WEN  $778,994   $26,273.00    130,000  HSU, HSIN-CHUAN  $299,613  
$10,105.00    50,000  HUANG,CHIA-CHENG  $29,961   $1,010.50    5,000 
LIN,MIAO-CHEN  $1,498,066   $50,525.00    250,000  LEE YU, 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  TSENG, HSIANG-CHIH  $73,909   $2,492.70    12,334 
LIN,CHIA-LING  $9,989   $336.90    1,667  HUANG,CHING-YI  $8,323   $280.70  
 1,389  LIU,SAN-YU  $22,638   $763.50    3,778 

 

2

 

 

CHEN,QUAN-PING  $23,969   $808.40    4,000  PENG, YI-CHEN  $29,961   $1,010.50  
 5,000  HSIEH,CHUN-FANG  $24,304   $819.70    4,056  CHEN,LING-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  CHU,CHE-TZU  $329,509   $11,113.30    54,989  YIN,CHIEN 
$8,664   $292.20    1,446  HUANG,HUI-TING  $77,977   $2,629.90    13,013  HO,
CHEN-YEN  $251,441   $8,480.30    41,961  CHANG, CHIA-WEN  $35,079   $1,183.10  
 5,854  YANG, CHAN-CHEN  $1,056   $35.60    176  ZHAO, TIANXING  $101,946  
$3,438.30    17,013  KAN, CHIH-HAO  $2,176   $73.40    363  YANG, CHUN-YI 
$6,538   $220.50    1,091  CHEN, HSIN-LAN  $41,142   $1,387.60    6,866  CHEN,
CHI-HUA  $39,212   $1,322.50    6,544  LiJin Ltd  $4,119,684   $138,943.80  
 687,500  Yake's Ltd  $374,518   $12,631.30    62,500  HSU,HAO-CHE  $9,989  
$336.90    1,667  CHEN,WEI-TING  $10,031   $338.30    1,674  LU,CHING-HO 
$23,382   $788.60    3,902  LIU, ZHAOLIN  $3,745,166   $126,312.50    625,000 
HSU,CHEN-EN  $10,941   $369.00    1,826  GU,YA-TING  $9,983   $336.70    1,666 
HUANG,YINGCHAO  $64,717   $2,182.70    10,800  CHENG, SHAOHONG  $39,950  
$1,347.40    6,667  HSIEH, HSIN-CHOU  $8,534,681   $287,847.60    1,424,283 
LEE, SHANG-CHE  $19,972   $673.60    3,333  TSENG, JUI-CHUN  $665,806  
$22,455.50    111,111  KUO, HSIEN-TSUNG  $319,585   $10,778.60    53,333  WAN,
CHIEN-CHENG  $133,161   $4,491.10    22,222  KUO, SHU-YUN  $798,967  
$26,946.60    133,333  CHIU, I-LANG  $798,967   $26,946.60    133,333  HSIAO,
HUNG-CHANG  $883,781   $29,807.10    147,487  LO, HUAI-JUNG  $399,486  
$13,473.40    66,667  HSU, KUO-HAO  $1,424,828   $48,054.90    237,778  TSAI,
MEI-LI  $66,579   $2,245.50    11,111  CHEN, YI-WEN  $16,646   $561.40    2,778 
LIN, CHIH-CHI  $19,972   $673.60    3,333  LIN, HSIN-CHIEH  $33,288  
$1,122.70    5,555  LIN, HUI-CHUAN  $665,806   $22,455.50    111,111  CHANG,
LING-LIN  $798,967   $26,946.60    133,333  LIN, YU-SHAN  $132,909   $4,482.60  
 22,180  CHEN, SHU-CHI  $66,579   $2,245.50    11,111 

 

3

 

 

LEE, YAO-HUANG  $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,
KUO-HAO  $395,567   $13,341.20    66,013  ZHANG, YIXIN  $1,997,420  
$67,366.60    333,333  LIN, YI-WEN  $403,154   $13,597.10    67,279  TSAI,
TSU-CHIN  $402,745   $13,583.30    67,211  TSAI, SUNG-MING  $610,203  
$20,580.20    101,832  CHANG, CHING-HSIAO  $227,706   $7,679.80    38,000 
CHANG, CHING-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  SHIEH, LING-LING  $397,737   $13,414.40  
 66,375  LAI, ZIH-LING  $397,737   $13,414.40    66,375  LEE, CHU-LING 
$256,529   $8,651.90    42,810  CHEN, LIN-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, CHEN-YI  $5,992   $202.10    1,000  LIU, MING-KUN  $217,717   $7,342.90  
 36,333  LIU, CHIA-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  HUANG,
CHIN-YEN  $519,332   $17,515.40    86,667  CHEN, SHU-CHIN  $39,950   $1,347.40  
 6,667  CHEN, YI-RU  $39,950   $1,347.40    6,667  HUANG, HSIN-CHI  $79,895  
$2,694.60    13,333  Aeki Ltd.  $95,114   $3,207.90    15,873  CHANG, CHIA-CHEN 
$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  LEE, PO-MING  $74,905   $2,526.30    12,500  TSAI,
CHENG-HAN  $11,985   $404.20    2,000  LIN, CHANG-JEN  $59,923   $2,021.00  
 10,000  TSENG, LI-FU  $44,517   $1,501.40    7,429  CHEN, CHIA-YI  $19,978  
$673.80    3,334  WU, YUNG-YUN  $39,950   $1,347.40    6,667  WU, JUI-TZU 
$515,459   $17,384.80    86,021  LIN, CHIH-PENG  $951,151   $32,079.30  
 158,730  Kajar Tsai Ltd.  $332,901   $11,227.70    55,555  KUO, CHO-SHAO 
$59,923   $2,021.00    10,000 

 

4

 

 

LIN, LIEH-HUI  $59,923   $2,021.00    10,000  Wang Chien-An  $59,923  
$2,021.00    10,000  LIAO, JIUN-NAN  $59,923   $2,021.00    10,000  WEI,
TZU-NING  $279,611   $9,430.40    46,662  Tsai, Han-Yu  $419,459   $14,147.00  
 70,000  Show King Holdings Inc  $1,141,382   $38,495.20    190,476  WANG SHAO
YU  $172,302   $5,811.20    28,754  LIN SHAN WEI  $863,310   $29,116.70  
 144,071  HUANG YEE CHUNG  $172,901   $5,831.40    28,854  HUANG YEN CHE 
$172,901   $5,831.40    28,854  CHAN JOSHUA CHEUK LUN  $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  WANG, WEN-SHENG  $433,839   $14,632.00  
 72,400  LIN, CHIA-MIN  $10,247   $345.60    1,710  KUAN, CHANG-YU  $59,923  
$2,021.00    10,000  ANCLA Ltd.  $2,996,133   $101,050.00    500,000  FUI
CHEUNG  $2,996,133   $101,050.00    500,000  13 Fangs Ltd  $$2,996,133  
$101,050.00    500,000  Amber Wang Ltd.  $2,996,133   $101,050.00    500,000 
Dawn Michelle  $299,613   $10,105.00    50,000  Total:  $200,301,985  
$6,755,547.6    33,426,757 

 

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