CANCELLATION OF PROMISSORY NOTE

 

This Cancellation of Promissory Note ("Cancellation Agreement") is entered into
August 11, 2014, between San Lotus Holding Inc. ("SLH") and Chen, Kuan-Yu (the
"Land Sellers").

 

R E C I T A L S

 

A.      WHEREAS, SLH assumed a certain Promissory Note dated as of  August 11,
2014 and originally held by Green Forest Management Consulting Inc. in the
original principal amount of One Billion Two Hundred Fourteen Million Three
Hundred Ninety Eight Thousand Fifteen New Taiwan Dollars (TWD $1,214,398,015),
in favor of the Land Sellers (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.

 

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 Seller hereby agree 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                     

         Chen, Li Hsing

Chairman of the Board

 

 

Green Forest Management Consulting Inc.

 

 

By:  /s/ Chiang,
Yu-Chang                                                          By: /s/ Chen,
Kuan-Yu               

             Chiang,
Yu-Chang                                                                      
Chen, Kuan-Yu

            
Director                                                                                         
4F, Flat2, Man Wah Building

                                                                                                                     Man
Wui Street, Yau Ma Tei

                                                                                                                    
Hong Kong SAR

 

1

 

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Schedule A

 

PURCHASER LIST

 

 

 

Purchaser

 

Purchase Amount(TWD)

 

Purchase Amount(USD)

 

Purchasing Shares

1

Ocean Reserve Ltd.

 

$287,594,246

 

$9,699,637.30

 

47,994,245

2

Show King Holdings Inc.

 

$31,388,053

 

$1,058,619

 

5,238,095

3

YU, CHIEN-YANG

 

$9,987,110

 

$336,833.40

 

1,666,667

4

CHANG, CHING

 

$4,955,903

 

$167,146.80

 

827,050

5

R&G INTERNATIONAL CO., LTD.

 

$191,752,551

 

$6,467,202.40

 

32,000,012

6

CHEN TSENG, CHIH YING

 

$10,652,946

 

$359,289.90

 

1,777,783

7

CHEN, LI HSING

 

$15,357,271

 

$517,951.80

 

2,562,849

8

YEN, HSIU CHEN

 

$1,210,221

 

$40,816.90

 

201,964

9

LEUNG, SIU WING

 

$119,845

 

$4,042.00

 

20,000

10

CHANG, HAO-CHUN

 

$719,072

 

$24,252.00

 

120,000

11

GU, YA-TING

 

$75,447

 

$2,544.60

 

12,591

12

LU, CHING-HO

 

$15,646

 

$527.70

 

2,611

13

Mohialddin Khalid AL-Sawaf

 

$85,689

 

$2,890.00

 

14,300

14

CHEN,LING-JU

 

$27,936

 

$942.20

 

4,662

15

CHEN,QUAN-PING

 

$37,151

 

$1,253.00

 

6,200

16

PENG, YI-CHEN

 

$13,933

 

$469.90

 

2,325

17

LIU,SAN-YU

 

$14,861

 

$501.20

 

2,480

18

TSENG, HSIANG-CHIH

 

$27,865

 

$939.80

 

4,650

19

LIN,CHIA-LING

 

$1,995

 

$67.30

 

333

20

Benchmark Assets Management Limited

 

$41,682

 

$1,405.80

 

6,956

21

Daphne Chen Ltd.

 

$303,150

 

$10,224.30

 

50,590

22

Rocky Yu Ltd.

 

$303,150

 

$10,224.30

 

50,590

23

Jackson Yu Ltd.

 

$303,150

 

$10,224.30

 

50,590

24

Dennis Yu Ltd.

 

$303,150

 

$10,224.30

 

50,590

25

Gu Gu Gu Ltd.

 

$4,232,715

 

$142,756.00

 

706,363

26

Nan Fang Ltd.

 

$740,458

 

$24,973.30

 

123,569

27

LIAO, MIAO-CHEN

 

$59,923

 

$2,021.00

 

10,000

28

Chen, Chun-hung

 

$11,985

 

$404.20

 

2,000

29

Liu, Chi-Jen

 

$179,768

 

$6,063.00

 

30,000

30

LIN, CHUN-HAN

 

$1,523,215

 

$51,373.20

 

254,197

31

Golden Hen Holding Inc

 

$2,396,906

 

$80,840.00

 

400,000

32

A Band Inc

 

$2,396,906

 

$80,840.00

 

400,000

33

A Benbow Holding Inc

 

$2,396,906

 

$80,840.00

 

400,000

34

Animedia Holding Inc

 

$25,966,480

 

$875,766.60

 

4,333,333

35

AHI Adaptation Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

36

AHI Advertising Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

37

AHI Animation Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

38

AHI Blueprint Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

39

AHI Broadcasting Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

40

AHI Diction Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

41

AHI Equipment Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

42

AHI Illustration Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

43

AHI Library Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

44

AHI Marketing Inc

 

$23,969,060

 

$808,400.00

 

4,000,000

45

AHI Peripherals Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

46

AHI Photography Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

47

AHI Pictures Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

48

AHI Post Production Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

49

AHI Publishing Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

50

AHI Sound Inc

 

$29,961,325

 

$1,010,500.00

 

5,000,000

51

AHI Talent Agency Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

52

AHI Voice Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

53

Animedia TV Inc

 

$19,974,215

 

$673,666.60

 

3,333,333

54

AHI Content Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

55

AHI Lighting Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

56

AHI Film Inc

 

$19,974,215

 

$673,666.60

 

3,333,333

57

AHI Records Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

58

App Artist Holding Inc

 

$2,396,906

 

$80,840.00

 

400,000

59

App Artist Blueprint Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

60

App Artist Library Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

61

App Artist Marketing Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

62

App Artist Services Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

63

App Artist Software Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

64

A Peace World Holding Inc

 

$2,396,906

 

$80,840.00

 

400,000

65

APW Assets Inc

 

$59,922,650

 

$2,021,000.00

 

10,000,000

66

APW Construction Inc

 

$29,961,325

 

$1,010,500.00

 

5,000,000

67

APW Contractor Inc

 

$29,961,325

 

$1,010,500.00

 

5,000,000

68

APW Development Inc

 

$29,961,325

 

$1,010,500.00

 

5,000,000

69

Genie Experiences Holding Inc

 

$19,974,215

 

$673,666.60

 

3,333,333

70

Genie Experiences Coach Inc

 

$9,987,110

 

$336,833.40

 

1,666,667

71

Genie Experiences Marketing Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

72

Genie Experiences Realty Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

73

Genie Experiences Services Inc

 

$19,974,215

 

$673,666.60

 

3,333,333

74

Autarky Holding Inc.

 

$2,396,906

 

$80,840.00

 

400,000

75

Autarky Consulting Inc

 

$15,979,375

 

$538,933.40

 

2,666,667

76

Autarky Immigration Services Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

77

Autarky Library Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

78

Autarky Management Consulting Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

79

Autarky Marketing Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

80

Autarky Publishing Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

81

Autarky Services Inc

 

$5,992,265

 

$202,100.00

 

1,000,000

82

BKPR Inc.

 

$5,992,265

 

$202,100.00

 

1,000,000

83

Magnate Holding Inc

 

$2,396,906

 

$80,840.00

 

400,000

84

Framework Capital Inc

 

$39,948,435

 

$1,347,333.40

 

6,666,667

85

Axis Holding Inc

 

$19,974,215

 

$673,666.60

 

3,333,333

86

Kreo Socivs Holding Inc

 

$2,396,906

 

$80,840.00

 

400,000

 

Total

 

$1,214,398,015

 

$40,957,774.70

 

202,660,931

2

 

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