AGREEMENT OF ASSIGNMENT, ASSUMPTION AND
RELEASE


 


THIS AGREEMENT is effective as of the 13th
day of March, 2014, by and among:


 


San Lotus Holding Inc., a Nevada corporation
(the “Assuming Party”);


 


Green Forest Management Consulting Inc.
(the “Debtor”); and


 


The Creditor (the “Creditor”)
listed on Exhibit A hereto.


 


WHEREAS, the Debtor is indebted to the
Creditor under a promissory note in the aggregate principal sum of Eight Hundred Thirty Million Four Hundred Ninety Thousand Three
Hundred Four New Taiwan Dollars (TWD $830,490,304), identified in Exhibit B hereto (referred to as the “Liabilities”).


 


WHEREAS, the Debtor wishes to assign and
delegate its obligations under these Liabilities to the Assuming Party and the Assuming Party wishes to assume the obligations
under the Liabilities.


 


NOW THEREFORE, in consideration of the
mutual covenants hereinafter provided and other valuable consideration, the receipt and sufficiency of which are acknowledged,
the parties agree:


 


		1.	Assignment of the Liabilities. The Debtor assigns its rights and delegates the performance
of all of its duties, liabilities and obligations under the Liabilities to the Assuming Party.



		2.	Assumption of the Liabilities. The Assuming Party assumes and agrees with the Debtor and
the Creditor to fully and faithfully discharge and perform all duties, liabilities and obligations of the Debtor under the Liabilities.



		3.	Approval of Assignment and Assumption. The Creditor (a) approves, consents to, and accepts
the assignment and delegation by the Debtor and to the Assuming Party for the payment and the performance of the Liabilities; and
(b) forever release and discharge the Debtor from the Liabilities.



 


IN WITNESS WHEREOF, the parties
hereto have set their hands.


 


	San Lotus Holding Inc.	 	 
	 	 	 
	By:  	/s/ Chen, Li Hsing	 	/s/Lo, Fun-Ming
	 	Chen, Li Hsing	 	Lo, Fun-Ming
	 	Chairman of the Board	 	 
	 	 	 
	Green Forest Management Consulting Inc.	 	 
	 	 	 
	By: 	/s/ Chiang, Yu-Chang	 	 
	 	Chiang, Yu-Chang	 	 
	 	Director	 	 


 




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Exhibit
A


 


PROMOSSORY NOTE HOLDERS


 


	Note Holder	Land Lot	Land Number	(m2)	Total Area of

Registered

Land	Value of

Interest (TWD)
	
         

         

        Lo, Fun-Ming
	Dataoping Section, Zaoqiao Township	
        81-5、82、647-16、647-17、

        655-6 、656、699-14、699-16、699-17、699-20、699-25、699-26、711
	
         

         

        35,790.4921
	
         

         

        316,906.9921
	
         

         

        $830,490,304

	Laotianliao Section, Touwu Township	414-2、414-3、415、421、424、430、431、432-1、432-3、432-4、432-6、432-7、432-8、432-9、432-13、432-14、432-15、432-26、432-27、432-28、432-29、432-32、432-33、438、439、440、441、442、442-1、442-2、443、443-1、444-14、444-49、448-1、449-1	
         

         

        281,116.5



  




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Exhibit B


 


GREEN FOREST MANAGEMENT CONSULTING
INC.


 


FORM OF PROMISSORY NOTE


 


TWD $830,490,304


 


Dated: March 13, 2014


 


For value received, and pursuant to the
Land Sale and Purchase Agreement dated March 13, 2014, Green Forest Management Consulting Inc. promises to pay the seller of certain
lots of land in Zaoqiao Township and Touwu Township, Miaoli County, Taiwan (R.O.C.), Lo, Fun-Ming (the “Land Seller”)
the sum of Eight Hundred Thirty Million Four Hundred Ninety Thousand Three Hundred Four New Taiwan Dollars (TWD $830,490,304).The
Land Seller’s ownership interest in this Promissory Note is detailed on Annex A to this Promissory Note.


 


The sum shall be repaid to the Land Seller
on or before March 13, 2014 according to the instructions of the Land Seller.


 


	 	 	Green Forest Management Consulting Inc.
	 	 	 
	 	By:	/s/ Chiang, Yu-Chang
	 	 	Chiang, Yu-Chang
	 	 	Director
	 	 	Green Forest Management Consulting Inc.
	 	 	Rm. B302C, 3F.-2, No. 185, Kewang Rd.
	 	 	Longtan Township, Taoyuan County 325
	 	 	Taiwan (R.O.C.)


 




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Annex A


 


PROMOSSORY NOTE HOLDERS


 


	Note Holder	Land Lot	Land Number	(m2)	Total Area of

Registered

Land	Value of

Interest (TWD)
	
         

         

        Lo, Fun-Ming
	Dataoping Section, Zaoqiao Township	
        81-5、82、647-16、647-17、

        655-6 、656、699-14、699-16、699-17、699-20、699-25、699-26、711
	
         

         

        35,790.4921
	
         

         

        316,906.9921
	
         

         

        $830,490,304

	Laotianliao Section, Touwu Township	414-2、414-3、415、421、424、430、431、432-1、432-3、432-4、432-6、432-7、432-8、432-9、432-13、432-14、432-15、432-26、432-27、432-28、432-29、432-32、432-33、438、439、440、441、442、442-1、442-2、443、443-1、444-14、444-49、448-1、449-1	
         

         

        281,116.5



 




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