Document:

GREEN FOREST MANAGEMENT CONSULTING INC.

 

PROMISSORY NOTE

 

 

 

TWD $91,996,524

 

Dated: September 17, 2013

 

 

For value received, and pursuant to the Stock Purchase Agreement,
dated September 17, 2013, Green Forest Management Consulting Inc. promises to pay the sellers of Da Ren International Development
Inc., Chang Cheng-Sung, Liao Chi-Sheng, Yu Chien-Yang and Da Chuang Business Management Consultant Co., Ltd. (together, the “Da
Ren Sellers”) the sum of Ninety One Million Nine Hundred Ninety Six Thousand Five Hundred Twenty Four New Taiwan Dollars
(TWD $91,996,524). Each of the Da Ren Sellers’ ownership interests in this Promissory Note is detailed on Annex A
to this Promissory Note.

 

The sum shall be repaid to the Da Ren Sellers on or before September
17, 2013 according to the instructions of the Da Ren Sellers.

 

 

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

 

    	 

    	 

    

  

Annex A

 

 

 

PROMISSORY NOTE HOLDERS

 

	Note Holder	Value of Shares Sold (TWD)

  

	
        Chang Cheng-Sung

         
	TWD $30,000,000
	
        Liao Chi-Sheng

         
	TWD $30,000,000
	
        Yu Chien-Yang

         
	TWD $5,500,000
	
        Da Chuang Business Management Consultant Co., Ltd.

         
	TWD $26,496,524AGREEMENT OF ASSIGNMENT, ASSUMPTION AND
RELEASE

 

 

THIS AGREEMENT is effective as of the 17th day of September,
2013, by and among:

 

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

 

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

 

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

 

WHEREAS, the Debtor is indebted to the Creditors under a promissory
note in the aggregate principal sum of Ninety One Million Nine Hundred Ninety Six Thousand Five Hundred Twenty Four New Taiwan
Dollars (TWD $91,996,524), 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 Creditors (a) approve, consent to, and accept 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.	 	/s/ Chang Cheng-Sung
	 	 	 	Chang Cheng-Sung
	By:	/s/ Chen Tseng Chih-Ying	 	 	 
	 	Chen Tseng Chih-Ying	 	 	 
	 	Chief Executive Officer	 	/s/ Liao Chi-Sheng
	 	 	 	Liao Chi-Sheng
	 	 	 	 	 
	Green Forest Management Consulting Inc.	 	 	 
	 	 	 	/s/ Yu Chien-Yang
	By:	/s/ Chiang Yu-Chang	 	Yu Chien-Yang
	 	Chiang Yu-Chang	 	 	 
	 	Chairman of the Board	 	 	 
	 	 	 	Da Chuang Business Management Consultant Co., Ltd.
	 	 	 	 	 
	 	 	 	By:	/s/ Chen Kuan-Yu
	 	 	 	 	Chen Kuan-Yu
	 	 	 	 	Chairman of the Board

 

    	 

    	 

    

 

Exhibit A

 

 

PROMISSORY NOTE HOLDERS

 

	Promissory Note Holder	Value of Shares Sold (TWD)

  

	
         

        Chang Cheng-Sung

         
	TWD $30,000,000
	
         

        Liao Chi-Sheng

         
	TWD $30,000,000
	
         

        Yu Chien-Yang

         
	TWD $5,500,000
	
         

        Da Chuang Business Management Consultant Co., Ltd.

         
	TWD $26,496,524

 

 

 

    	 

    	 

    

  

Exhibit B

 

GREEN FOREST MANAGEMENT CONSULTING INC.

 

FORM OF

 

PROMISSORY NOTE

 

 

 

TWD $91,996,524

 

Dated: ________________, 2013

 

 

For value received, and pursuant to the Land Sale and Purchase
Agreement dated September __, 2013, Green Forest Management Consulting Inc. promises to pay the sellers of Da Ren International
Development Inc., Chang Cheng-Sung, Liao Chi-Sheng, Yu Chien-Yang and Da Chuang Business Management Consultant Co., Ltd. (together,
the “Da Ren Sellers”) the sum of Ninety One Million Nine Hundred Ninety Six Thousand Five Hundred Twenty Four New Taiwan
Dollars (TWD $91,996,524). Each of the Da Ren Sellers’ ownership interests in this Promissory Note is detailed on Annex
A to this Promissory Note.

 

The sum shall be repaid to the Da Ren Sellers on or before ___________,
2013 according to the instructions of the Da Ren Sellers.

 

 

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

 

    	 

    	 

    

  

Annex A

 

 

 

PROMISSORY NOTE HOLDERS

 

	Promissory Note Holder	Value of Shares Sold (TWD)

  

	
         

        Chang Cheng-Sung

         
	TWD $30,000,000
	
         

        Liao Chi-Sheng

         
	TWD $30,000,000
	
         

        Yu Chien-Yang

         
	TWD $5,500,000
	
         

        Da Chuang Business Management Consultant Co., Ltd.

         
	TWD $26,496,524CANCELLATION OF PROMISSORY NOTE

 

This Cancellation of Promissory Note (“Cancellation
Agreement”) is entered into this 17th day of September, 2013, by and among San Lotus Holding Inc. (“SLH”) and
Chang Cheng-Sung, Liao Chi-Sheng, Yu Chien-Yang and Da Chuang Business Management Consultant Co., Ltd., a Taiwan corporation (together
the “Da Ren Sellers”).

 

RECITALS

 

		A.	WHEREAS, SLH assumed a certain Promissory Note dated as of September 17, 2013 and originally
held by Green Forest Management Consulting Inc. in the original principal amount of Ninety
One Million Nine Hundred Ninety Six Thousand Five Hundred Twenty Four New Taiwan Dollars (TWD $91,996,524), in favor of the Da
Ren Sellers (the “Note”);

 

		B.	WHEREAS, the Da Ren 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 Da Ren 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.

 

AGREEMENT

 

The Note is hereby terminated and cancelled
and is of no further force and effect. The Da Ren Sellers hereby agree to promptly return the Note to SLH.

 

IN WITNESS WHEREOF, the parties hereto have
executed this Cancellation Agreement.

 

 

	San Lotus Holding Inc.	 	 	 
	 	 	 	/s/ Chang Cheng-Sung
	 	 	 	Chang Cheng-Sung
	By:	/s/ Chen Tseng Chih-Ying	 	 	 
	 	Chen Tseng Chih-Ying	 	 	 
	 	Chief Executive Officer	 	 	 
	 	 	 	/s/ Liao Chi-Sheng
	 	 	 	Liao Chi-Sheng
	Green Forest Management Consulting Inc.	 	 	 
	 	 	 	 
	 	 	 	/s/ Yu Chien-Yang
	By:	/s/ Chiang Yu-Chang	 	Yu Chien-Yang
	 	Chiang Yu-Chang	 	 	 
	 	Chairman of the Board	 	 	 
	 	 	 	Da Chuang Business Management Consultant Co., Ltd.
	 	 	 	 	 
	 	 	 	By:	/s/ Chen Kuan-Yu
	 	 	 	 	Chen Kuan-Yu
	 	 	 	 	Chairman of the Board

 

    	 

    	 

    

  

Schedule A

 

PURCHASER LIST

 

 

	Purchaser	Amount of Shares	Purchase Amount (TWD)	Purchase Amount (USD)

  

	
        Da Chuang Business

        Management Consulting Co.,

        Ltd.
	8,843,967	TWD $26,496,524	
         

        $884,396.70

	
         

        Gold Piven Ltd.

         
	3,337,784	TWD $10,000,000	$333,778.40
	Darkin Ltd.	6,008,011	TWD $18,000,000	
         

        $600,801.10

         

	Ocean Reserve Ltd.	667,557	TWD $2,000,000	
         

        $66,755.70

         

	Yamiyo Ltd.	250,334	TWD $750,000	
         

        $25,033.40

         

	Allegro Equity  Ltd.	667,557	TWD $2,000,000	
         

        $66,755.70

         

	New Bela Ltd. 	250,334	TWD $750,000	
         

        $25,033.40

         

	Chang Cheng-Sung	10,680,908	TWD $32,000,000	
         

        $1,068,090.80

         

	Total:	30,706,452	TWD $91,996,524	$3,070,645.2REGULATION S 

STOCK PURCHASE AGREEMENT

 

 

This Regulation S Stock
Purchase Agreement (the “Agreement”), is dated as of September 17, 2013 between San Lotus Holding Inc., a Nevada corporation
having offices at 3F-B302C, No. 185, Kewang Road, Longtan Township, Taoyuan County 325, Taiwan (the “Company”), and the
individual purchasers whose names are set forth in the Schedule A hereunder (each a “Purchaser” and,
collectively, the “Purchasers”).

 

ARTICLE I

PURCHASE, SALE AND TERMS OF SHARES

 

1.1 The Shares. The Company agrees
to issue and sell to Purchasers in an offshore transaction negotiated outside the U.S. and to be consummated and closed outside
the U.S. and, in consideration of and in express reliance upon the representations, warranties, covenants, terms and conditions
of this Agreement, the Purchasers agree to purchase from the Company an aggregate of $3,070,645 US dollars, or 30,706,452 shares
(the “Shares”), of the Company’s common stock, par value $0.10 per share, (the “Common Stock”) at
a per share purchase price which shall be  $0.10 per share (the “Purchase Price”).  The specific number
of Shares that each Purchaser will purchase is set forth in Schedule A attached hereto. Each Purchaser understands
and agrees that the Company in its sole discretion reserves the right to accept or reject this subscription for the Shares, in
whole or in part, prior to receipt by the Company of the Purchase Price, or any applicable portion thereof, as set forth in Article
II hereafter.

 

1.2 Payment of Purchase Price;
Closing.  This transaction will be closed at a location outside the U.S. mutually designated by the Company and the
Purchasers and each Purchaser will pay the applicable purchase price within a reasonable time agreed to by the Company and the
Purchaser following execution of this Agreement. The Company will, within a reasonable period of time upon receipt of the funds,
cause the Share certificates to be delivered to each Purchaser.

 

ARTICLE II

REPRESENTATIONS AND WARRANTIES OF EACH PURCHASER

 

2.1. Representations by Each Purchaser.  Each
Purchaser makes the following representations and warranties to the Company:

 

(a)  Access to Information.  Each
Purchaser, in making the decision to purchase the Shares, has relied solely upon independent investigations made by it and/or its
representatives, if any.  Each Purchaser and/or its representatives during the course of this transaction, and prior
to the purchase of any Shares, has had the opportunity to ask questions of and receive answers from the management of the Company
concerning the terms and conditions of the offering of the Shares and to receive any additional information, documents, records
and books relative to its business, assets, financial condition, results of operations and liabilities (contingent or otherwise)
of the Company.

 

(b)  Sophistication and Knowledge.
Each Purchaser and/or its representatives has such knowledge and experience in financial and business matters that it can represent
itself and is capable of evaluating the merits and risks of the purchase of the Shares.  Each Purchaser is not relying
on the Company with respect to the tax and other economic considerations of an investment in the Shares, and each Purchaser has
relied on the advice of, or has consulted with, only each Purchaser's own advisor(s).

 

(c)  Lack of Liquidity.  Each
Purchaser acknowledges that the purchase of the Shares involves a high degree of risk and further acknowledges that it can bear
the economic risk of the purchase of the Shares, including the total loss of its investment.  Each Purchaser has no present
need for liquidity in connection with its purchase of the Shares.

 

(d)   No Public Solicitation.  Each
Purchaser is not subscribing for the Shares as a result of or subsequent to any advertisement, article, notice or other communication
published in any newspaper, magazine or similar media or broadcast over television or radio, or presented at any seminar or meeting,
or any solicitation of a subscription by a person not previously known to each Purchaser in connection with investments in securities
generally.  Neither the Company nor each Purchaser has engaged in any ‘Directed Selling Efforts in the U.S.,’
as defined in Regulation S promulgated by the U.S. Securities and Exchange Commission under the Securities Act of 1933, as amended.

 

    	 

    	 

    

 

 

(e)    Authority.  Each
Purchaser has the full right and power to enter into and perform pursuant to this Agreement and to make an investment in the Company,
and this Agreement constitutes each Purchaser’s valid and legally binding obligation, enforceable in accordance with its
terms. Each Purchaser is authorized and otherwise duly qualified to purchase and hold the Shares and to enter into this Agreement.

 

(f)    Regulation S
Exemption.  Each Purchaser understands that the Shares are being offered and sold to it in reliance on an exemption
from the registration requirements of the United States federal and state securities laws under Regulation S promulgated under
the Securities Act of 1933, as amended, (the “Securities Act”) and that the Company is relying upon the truth and accuracy
of the representations, warranties, agreements, acknowledgments and understandings of each Purchaser set forth herein in order
to determine the applicability of such exemptions and the suitability of each Purchaser to acquire the Shares.  In this
regard, each Purchaser represents, warrants and agrees that:

 

(1) No Purchaser is a U.S. Person (as defined
below).  A U.S. Person means any one of the following:

 

		(i)	any U.S. Citizen;

		(ii)	any natural person resident in the United States of America;

		(iii)	any partnership or corporation organized or incorporated under the laws of the United States of America;

		(iv)	any estate of which any executor or administrator is a U.S. person;

		(v)	any trust of which any trustee is a U.S. person;

		(vi)	any agency or branch of a foreign entity located in the United States of America;

		(vii)	any non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the
benefit or account of a U.S. Person;

		(viii)	any discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized,
incorporated or (if an individual) resident in the United States of America; and

		(ix)	any partnership or corporation if:

 

		a.	organized or incorporated under the laws of any foreign jurisdiction; and

 

		b.	formed by a U.S. Person principally for the purpose of investing in securities not registered under the Securities Act, unless
it is organized or incorporated, and owned, by accredited investors   (as defined in Rule 501(a) under the Securities
Act) who are not natural persons, estates or trusts.

 

(2)At the time of the origination of
contact concerning this Agreement and the date of the execution and delivery of this Agreement, each Purchaser was outside of the
United States.

 

(3) Each Purchaser will not, during the
period commencing on the date of issuance of the Shares and ending on the first anniversary of such date, or such shorter period
as may be permitted by Regulation S or other applicable securities law (“Restricted Period”), offer, sell, pledge or
otherwise transfer the Shares in the United States, or to a U.S. Person for the account or benefit of a U.S. Person, or otherwise
in a manner that is not in compliance with Regulation S.

 

(4)  Each Purchaser will, after
expiration of the Restricted Period, offer, sell, pledge or otherwise transfer the Shares only pursuant to registration under the
Securities Act or an available exemption therefrom and, in accordance with all applicable state and foreign securities laws.

 

(5)  Each Purchaser has not in
the United States, engaged in, and prior to the expiration of the Restricted Period will not engage in, any short selling of or
any hedging transaction with respect to the Shares, including without limitation, any put, call or other option transaction, option
writing or equity swap.

 

    	 

    	 

    

  

(6)  No Purchaser nor any person
acting on a Purchaser’s behalf has engaged, nor will engage, in any directed selling efforts to U.S. Citizens with respect
to the Shares and each Purchaser and any person acting on its behalf have complied and will comply with the “offering restrictions”
requirements of Regulation S under the Securities Act.

 

(7) The transactions contemplated by
this Agreement have not been pre-arranged with a buyer located in the United States or with a U.S. Person, and are not part of
a plan or scheme to evade the registration requirements of the Securities Act.

 

(8)  Neither any Purchaser nor
any person acting on the Purchaser’s behalf has undertaken or carried out any activity for the purpose of, or that could
reasonably be expected to have the effect of, conditioning the market in the United States, its territories or possessions, for
any of the Shares.  Each Purchaser agrees not to cause any advertisement of the Shares to be published in any newspaper
or periodical or posted in any public place and not to issue any circular relating to the Shares, except such advertisements that
include the statements required by Regulation S under the Securities Act, and only offshore and not in the U.S. or its territories,
and only in compliance with any local applicable securities laws.

 

(9)    Each certificate
representing the Shares shall be endorsed with the following legends:

 

“THE SHARES ARE BEING
OFFERED TO INVESTORS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“THE
SECURITIES ACT”)) AND WITHOUT REGISTRATION WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES
ACT IN RELIANCE UPON REGULATION S PROMULGATED UNDER THE SECURITIES ACT.”

 

“TRANSFER OF THESE SHARES
IS PROHIBITED, EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO REGISTRATION UNDER THE SECURITIES ACT, OR
PURSUANT TO AVAILABLE EXEMPTION FROM REGISTRATION. HEDGING TRANSACTIONS MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES
ACT.”

 

 

as well as any other legend required to
be placed thereon by applicable federal or state securities laws.

 

(10) Each Purchaser consents to the
Company making a notation on its records or giving instructions to any transfer agent of the Company in order to implement the
restrictions on transfer of the Shares.

 

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents and warrants as
follows:

 

3.1 Organization and Standing of
the Company.  The Company is a duly organized and validly existing corporation in good standing under the laws of
the State of Nevada and has all requisite corporate power and authority for the ownership and operation of its properties and for
the carrying on of its business as now conducted and as now proposed to be conducted and to execute and deliver this Agreement
and other instruments, agreements and documents contemplated herein (together with this Agreement, the “Transaction Documents”),
to issue, sell and deliver the Shares and to perform its other obligations pursuant hereto.  The Company is duly licensed
or qualified and in good standing as a foreign corporation authorized to do business in all jurisdictions wherein the character
of the property owned or leased or the nature of the activities conducted by it makes such licensing or qualification necessary,
except where the failure to be so licensed or qualified would not have a material adverse effect on the business, operations or
financial condition of the Company.

 

3.2 Corporate Action.  The
Transaction Documents have been duly authorized, executed and delivered by the Company and constitute the legal, valid and binding
obligations of the Company, enforceable against the Company in accordance with their respective terms.  The Shares have
been duly authorized.  The issuance, sale and delivery of the Shares have been duly authorized by all required corporate
action on the part of the Company.  The Shares, when issued and paid for in accordance with the Transaction Documents,
will be validly issued, fully paid and nonassessable, with no personal liability attaching to the ownership thereof and will be
free and clear of all liens, charges, restrictions, claims and encumbrances imposed by or through the Company, except as expressly
set forth in the Transaction Documents.

 

    	 

    	 

    

  

3.3 Governmental Approvals.  No
authorization, consent, approval, license, exemption of or filing or registration with any court or governmental department, commission,
board, bureau, agency or instrumentality, domestic or foreign, is or will be necessary for, or in connection with, the execution
and delivery by the Company of this Agreement, for the offer, issue, sale, execution or delivery of the Shares, or for the performance
by the Company of its obligations under the Transaction Documents except for any filings required by applicable securities laws.

 

3.4 Litigation. There is no litigation
or governmental proceeding or investigation pending or, to the knowledge of the Company, threatened against the Company affecting
any of its properties or assets, nor, to the best knowledge of the Company, has there occurred any event or does there exist any
condition on the basis of which any litigation, proceeding or investigation might properly be instituted.  The Company
is not in default with respect to any order, writ, injunction, decree, ruling or decision of any court, commission, board or other
government agency, which such default might have a material adverse effect on the business, assets, liabilities, operations, Intellectual
Property Rights, (as defined hereinafter) management or financial condition of the Company.  There are no actions or
proceedings pending or, to the Company’s knowledge, threatened (or any basis therefor known to the Company) against the Company
which might result, either in any case or in the aggregate, in any material adverse change in the business, operations, Intellectual
Property Rights, affairs or financial condition of the Company or in any of its properties or assets, or which might call into
question the validity of any of the Transaction Documents, any of the Shares, or any action taken or to be taken pursuant hereto
or thereto.

 

3.5 Compliance with Other Instruments.  The
Company is in compliance in all respects with its Certificate of Incorporation and Bylaws, each as amended and/or restated to date,
and in all respects with the material terms and provisions of all mortgages, indentures, leases, agreements and other instruments
by which it is bound or to which it or any of its properties or assets are subject.  The Company is in compliance in
all material respects with all judgments, decrees, governmental orders, laws, statutes, rules or regulations by which it is bound
or to which it or any of its properties or assets are subject.  Neither the execution and delivery of the Transaction
Documents nor the issuance of the Shares, nor the consummation or performance of any transaction contemplated hereby or thereby,
has constituted or resulted in or will constitute or result in a default or violation of, create a conflict with, trigger any “change
of control” or other right of any person under, or require any consent, waiver, release or approval under or with respect
to, any term or provision of any of the foregoing documents, instruments, judgments, agreements, decrees, orders, statutes, rules
and regulations.

 

3.6 Disclosure.  There
is no fact within the knowledge of the Company or any of its executive officers which has not been disclosed herein or in writing
by them to each Purchaser and which materially adversely affects, or in the future in their opinion may, insofar as they can now
foresee, materially adversely affect the business, operations, properties, Intellectual Property Rights, assets or condition, financial
or other, of the Company.  Without limiting the foregoing, the Company has no knowledge that there exists, or there is
pending or planned, any patent, invention, device, application or principle or any statute, rule, law, regulation, standard or
code which would materially adversely affect the business, operations, Intellectual Property Rights, affairs or financial condition
of the Company.

 

3.7 Brokers or Finders.  No
person has or will have, as a result of the transactions contemplated by this Agreement, any right, interest or valid claim against
or upon each Purchaser for any commission, fee or other compensation as a finder or broker because of any act or omission by the
Company or its respective agents.

 

3.8 Refusal of Registration.  The
parties hereby acknowledge and agree that the Company shall be required, as a term of this contract, to refuse to register any
transfer of the Shares not made in accordance with the provisions of Regulation S, or pursuant to Registration, or another exemption
from registration, under the Securities Act.

 

    	 

    	 

    

  

ARTICLE IV

MISCELLANEOUS

 

4.1 Waiver; Cumulative Remedies.  No
failure or delay on the part of any party to this Agreement in exercising any right, power or remedy hereunder shall operate as
a waiver thereof; nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise
thereof or the exercise of any other right, power or remedy hereunder.  The remedies herein provided are cumulative and
not exclusive of any remedies provided by law.

 

4.2 Amendments; Waivers and Consents.  Any
provision in the Agreement to the contrary notwithstanding, and except as hereinafter provided, changes in, termination or amendments
of or additions to this Agreement may be made, and compliance with any covenant or provision set forth herein may be omitted or
waived, if either Party shall obtain consent thereto in writing from the other Party.  Any waiver or consent may be given
subject to satisfaction of conditions stated therein and any waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given.

 

4.3 Addresses for Notices.  Any
notice or other communication required or permitted to be given hereunder shall be in writing and shall be mailed by certified
mail, return receipt requested, or delivered against receipt to Company and/or to each Purchaser.  Any notice or other
communication given by certified mail shall be deemed given at the time of certification thereof, except for a notice changing
a party’s address which shall be deemed given at the time of receipt thereof.

 

4.4 Costs; Expenses and Taxes.   Upon
execution of this Agreement and with each delivery of the Purchase Price as set forth in 1.3, the Company shall pay no monies in
the aggregate, to cover fees and disbursements of counsel to each Purchaser incurred in connection with the negotiation, drafting
and completion of the Transaction Documents and all related matters. The Company shall pay any and all stamp, or other similar
taxes payable or determined to be payable in connection with the execution and delivery of this Agreement, the issuance of any
securities and the other instruments and documents to be delivered hereunder or thereunder, and agrees to save each Purchaser harmless
from and against any and all liabilities with respect to or resulting from any delay in paying or omission to pay such taxes.

 

4.5 Effectiveness; Binding Effect; Assignment.  This
Agreement shall be binding upon and inure to the benefit of the Company, each Purchaser and the respective successors and assigns.

 

4.6 Survival of Representations and
Warranties.  All representations and warranties made in the Transaction Documents, the Shares, or any other instrument
or document delivered in connection herewith or therewith, shall survive the execution and delivery hereof or thereof.

 

4.7 Prior Agreements.  The
Transaction Documents executed and delivered in connection herewith constitute the entire agreement between the parties with respect
to the subject matter set forth herein and supersede any prior understandings or agreements concerning the subject matter hereof.

 

4.8 Severability.  The
provisions of the Transaction Documents are severable and, in the event that any court of competent jurisdiction shall determine
that any one or more of the provisions or part of a provision contained therein shall, for any reason, be held to be invalid, illegal
or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision or part of
a provision of such Transaction Document and the terms of the Shares shall be reformed and construed as if such invalid or illegal
or unenforceable provision, or part of a provision, had never been contained herein, and such provisions or part reformed so that
it would be valid, legal and enforceable to the maximum extent possible.

 

4.9 Governing Law; Jurisdiction.

 

(a) This Agreement shall be enforced, governed
and construed in accordance with the laws of the State of New Jersey without giving effect to choice of laws principles or conflict
of laws provisions. Any suit, action or proceeding pertaining to this Agreement or any transaction relating hereto shall be brought
in the State of New Jersey and the undersigned hereby irrevocably consents and submits to the jurisdiction of such courts for the
purpose of any such suit, action, or proceeding.  

 

    	 

    	 

    

  

(b) Each Purchaser hereby waives, and agrees
not to assert against the Company, or any successor assignee thereof, by way of motion, as a defense, or otherwise, in any such
suit, action or proceeding, (i) any claim that each Purchaser is not personally subject to the jurisdiction of the above-named
courts, and (ii) to the extent permitted by applicable law, any claim that such suit, action or proceeding is brought in an inconvenient
forum or that the venue of any such suit, action or proceeding is improper or that this Agreement may not be enforced in or by
such courts.

 

4.10 Headings.  Article,
section and subsection headings in this Agreement are included herein for convenience of reference only and shall not constitute
a part of this Agreement for any other purpose.

 

4.11 Counterparts.  This
Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument,
and any of the parties hereto may execute this Agreement by signing any such counterpart.

 

4.12 Further Assurances.  From
and after the date of this Agreement, upon the request of each Purchaser or the Company, the Company and each Purchaser shall execute
and deliver such instruments, documents and other writings as may be reasonably necessary or desirable to confirm and carry out
and to effectuate fully the intent and purposes of the Transaction Documents and the Shares.

 

 

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be executed as of the date first above written.

 

< Signature Page to Follow >

 

    	 

    	 

    

  

COMPANY:

 

San Lotus Holding Inc.

 

By: _/s/ Chen Tseng Chih-Ying________

Name: Chen Tseng Chih-Ying

Title: President and CEO

 

 

PURCHASERS:

 

__/s/ Chang Cheng-Sung______________

Name: Chang Cheng-Sung

Address: No. 78 Ziqiang Rd.

Zhudong Township, Hsinchu County 310

Taiwan (R.O.C.)

ID No.:

Shares Purchased: 10,680,908

 

 

Gold Piven Ltd.

 

By: __/s/ Chen Kuan-Yu_______________

Name: Chen Kuan-Yu

Title: Chairman of the Board

Address: Apt. 20E, Moon Tower

The Arch. 1 Austin Rd. West

Kowloon, Hong Kong

ID No.:

Shares Purchased: 3,337,784

 

 

Darkin Ltd.

 

By: _/s/ Yu Chien-Yang_________________

Name: Yu Chien-Yang

Title: Chairman of the Board

Address: Rm. B302C, 3F., No. 185, Kewang Rd.

Longtan Township, Taoyuan County 325

Taiwan (R.O.C.)

ID No.:

Shares Purchased: 6,008,011

 

 

Da Chuang Business Management Consultant Co., Ltd.

 

By: __/s/ Chen Kuan-Yu_______________________

Name: Chen Kuan-Yu

Title: Chairman of the Board

Address: 3F., No. 132 Gongyi Rd.

West Dist., Taichung City 403

Taiwan (R.O.C.)

ID No.:

Shares Purchased: 8,843,967

 

    	 

    	 

    

 

Ocean Reserve Ltd.

 

By: _/s/ Yu Chien-Yang____________________

Name: Yu Chien-Yang

Title: Chairman of the Board

Address: No. 548, Kewang Rd.

Longtan Township, Taoyuan County 325

Taiwan (R.O.C.)

ID No.:

Shares Purchased: 667,557

 

 

Yamiyo Ltd.

 

By: _/s/ Chiang Yu-Chang________________

Name: Chiang Yu-Chang

Title: Chairman of the Board

Address: No. 194, Yangguang St.

Neihu Dist., Taipei City 11468

Taiwan (R.O.C.)

ID No.:

Shares Purchased: 250,334

 

 

Allegro Equity Ltd.

 

By: _/s/ Lia Wang_______________________

Name: Lia Wang

Title: Chairman of the Board

Address: Rm. B302E, 3F. -2, No. 185, Kewang Rd.

Longtan Township, Taoyuan County 325

Taiwan (R.O.C.)

ID No.:

Shares Purchased: 667,557

 

 

New Bela, Ltd.

 

By: /s/ Chang Hsin-Yu______________________

Name: Chang Hsin-Yu

Title: Chairman of the Board

Address: No. 6, Ln. 580, Kewang Rd.

Longtan Township, Taoyuan County 325

Taiwan (R.O.C.)

ID No.:

Shares Purchased: 250,334

 

    	 

    	 

    

  

Schedule A

 

PURCHASER LIST

 

 

	Purchaser	Amount of Shares	Purchase Amount (TWD) 	Purchase Amount (USD)

  

	
        Da Chuang Business

        Management Consultant Co.,

        Ltd.
	8,843,967	TWD $26,496,524	
         

        $884,396.70

	
         

        Gold Piven Ltd.

         
	3,337,784	TWD $10,000,000	$333,778.40
	Darkin Ltd.	6,008,011	TWD $18,000,000	
         

        $600,801.10

         

	Ocean Reserve Ltd.	667,557	TWD $2,000,000	
         

        $66,755.70

         

	Yamiyo Ltd.	250,334	TWD $750,000	
         

        $25,033.40

         

	Allegro Equity  Ltd.	667,557	TWD $2,000,000	
         

        $66,755.70

         

	New Bela Ltd. 	250,334	TWD $750,000	
         

        $25,033.40

         

	Chang Cheng-Sung	10,680,908	TWD $32,000,000	
         

        $1,068,090.80

         

	Total:	30,706,452	TWD $91,996,524	$3,070,645.2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00221-of-00352.parquet"}]]