Document:

EXHIBIT 4.28

 

Long Cheng Industrial Zone General Estate
Rental Contract

 

Contract No.:

 

	
        The Landlord (Party A): Shenzhen
Long Cheng Industry & Trade Industrial Ltd.
	 	
        Signing Location: Long Cheng

        Industry Area

	
        The Tenant (Party B): Shenzhen
Dalong Boa An Long

       Cheng Hi-Lite Electricity Factory
	 	Signing Time: 25th Nov 2011

 

According to <Contract Law of P.R.C> and related regulations,
for the purpose of making rights and responsibilities relationship clear, as agreed by both sides to sign this contract.

 

		1.	Name and area of the rented estate:

Party A rent 6# factory workshop to Party
B, the total area is 5325 M2.

 

		2.	Payment of rental fee and other expenses:

Party B should pay rental fee, management
fee in total of RMB seventy seven thousand six hundred seventy eight and cents four only (77,678.04 RMB) to Party A every month.
Rental fee should be settled once a month, Party B should pay the monthly rental fee, management fee and other expenses to Party
B before 10th of each month by cash or transfer to Party A's account.

 

		3.	Deposit :

Party B pay two months' rental fee and
management fee at RMB one hundred fifty five thousand and three hundred fifty six and cents eight only (155,356.08RMB) to Party
A, when the contract expired, after deducted unpaid rental fee and recovering fee, Party A should return the remaining deposit
to Party B.

 

		4.	Rental period:

The rental period is one year, from 1st
Mar, 2012 to 28th Feb, 2013. This contract will be implemented from 1st March, 2012.

 

		5.	Premises Repair during rental period:

Party B should be in charge of the repairing
and maintenance of the premises during rental period and the alteration Party B requested with Party A approval. Party B has the
responsibility to maintain and keep the rented premises in good status. If the premises need to be repair and reform because of
the problem of premises itself, the expenses should be on the side of Party A.

 

Requirements for repairing and maintenance
to the rented house:

		1.	Main structure of the premises should be kept intactness; the decoration proposal must be checked and approved by Party A in
advance.

		2.	The location and function of facility in the premises shall not be changed and damaged.

 

    	 

    	 

    

 

		3.	Doors and windows should be kept intactness; glasses shall not be covered by colored material.

		4.	Keep water and power supply facility complete, sewer smooth and no obstacle put in the fire exit.

 

		6.	Responsibilities of Party A and Party B:

 

Party A:

		1.	Provide the factory, dormitory to Party B to use on time, and take charge of water, road, electricity get-through.

		2.	Assist Party B to apply business license and tax registration etc. (costs needed above should be undertaken by Party B).

		3.	Assist Party B to solve difficulties in practical work during contract period.

		4.	Make sure fire control safety, sanitation in good status, handle complaint in time.

 

Party B:

		1.	Pay rental fee, management fee, water and electricity fee on time.

		2.	Responsible for the water and electricity fee of yearly rented factory and dormitory (include public facilities). In addition,
Party B should be responsible for the repairing expenses caused by artificial damage of facilities in workshop and dormitory rented
during rental period (Party A can provide payable service).

		3.	Party B should obey related laws and regulations of P.R.C. and local government decree, and comply with Long Cheng's management,
should not carry out any illegal activities, make harm to the public benefit or change the regulated content of the contract.

		4.	Party B should not transfer the premises and dormitory rented from Party A to another Party.

		5.	Every company should appoint a fire-prevention person in charge, and organize a fireproof team with 5-7 members, premises should
equip with regulated fire distinguish facility, fire exit of premises and dormitory shall not be obstructed, violator will be punished
according to the Fire Control regulations. Damaging fixed fire distinguish equipments and water pool in the premises and dormitory,
installing steel gate, using fire distinguish water pool and hose to wash floor are not allowed. Violator will be punished according
to Fire control regulations.

		6.	During the rental period, Party B should not affect other factory or other people's normal working when using public facilities.
Furthermore, Party B should educate its staff to care for public facilities; any damage should be paid in equal value.

		7.	Any unauthorized demolition and rebuilding to structure and facility of the premises and dormitory should be paid as 100% of
the value of complaint facility.

 

Party A reserves the right to release
the rental relationship before expired; terminate the rental contract; get back the rented premises, if Party B violate the term
no.1,3.4,7 in the Clause No. 6 (Responsibilities of Party B) seriously. Deposit paid by Party B will be forfeited by Party
A, Party B undertake all consequences caused.

 

If Party A seriously violate Clause No.
6 (Responsibilities of Party A), and not remedy immediately, Party B reserved the right to claim from Party A.

 

    	 

    	 

    

 

		7.	Responsibilities for breach of contract:

 

Party A:

		1.	Have not provided premises to Party B on time as contract stipulated.

		2.	Have not provided related equipment for Party B using as contract stipulated.

 

Party B:

		1.	Premises damage caused by improper usage or decoration, maintenance, Party B should be responsible for repairing or compensation.

		2.	Unauthorized demolition and rebuilding should undertake all consequences caused by.

		3.	Fail to return the estate exceed the date stipulated after contract expired, beside paying the rental fee and related expenses,
Party B should pay additional lease breach fees, one day equal to 1‰ of monthly rental fee, longest period exceeding could
not be over 30 days.

		4.	If delay to pay rental fee and management fee, except paying the rental fee in required time, must pay overdue penalty 1‰
of the total overdue sum per day.

Calculation method:

Overdue penalty = monthly rental fee and
total expenses * days overdue * 1‰

 

If Party B breach of contract, Party A
reserve the right to take following measures depend on the violation situation:

		1.	Imposes two months' rental fee and total expenses as overdue penalty punishment.

		2.	Compel Party B to move out, return the premises.

		3.	If Party B owes two months' rental and other expense, Party A reserves the right to sue Party B in People's Tribunal and take
any legal measure to get the overdue back.

 

		8.	Disclaimer:

 

		1.	The rented premises damaged due to force majeure and cause losses to Party A, Party B has not the liability to repair or reparation,
but should report to Party A and explain the situation immediately, if necessary, to get the certification by law from the related
Department is needed.

		2.	If Government manipulate or the Long Cheng Group Ltd development require to dismantled the simple workshop, Party A should
inform Party B three months in advance and terminate the contract for the part of simple workshop rental, no right to claim the
loss occurred from demolition by both parties. If Long Cheng Group Ltd require to dismantle 1# simply workshop wholly for development,
Party A promises to provide another workshop with height not less than 7m ground floor and area not less than 1# simply workshop
in the contract to Party B three months in advance.

 

		9.	Dispute solving method

 

Both parties should negotiate to solve
the disputes that happen during execution of this contract. If compromise failed, should ask for arbitration from Contract Management
Office or adjudication to authoritative People's Tribunal.

 

    	 

    	 

    

 

		10.	Miscellanies

 

		1.	During the contract period any party want to terminate the contract should provide written report to the other party 3 months
in advance, contract can stop after negotiated and agreed, but the party advise to stop contract should pay 3 months' rental fee
as liquidated damages.

		2.	When contract expired and doesn't renew, Party B should restore the estate as standard and settle all the expenses, then Party
A return the deposit to Party B in one time. If Party A restores the premises, the costs will be deducted from the deposit and
Party B should pay the balance not covered.

		3.	Party B has priority to renew the rental contract with equal condition and should apply by written within six months before
this contract expired. Both parties should sign the renewed contract.

		4.	Premises reconstruction during the rental contract period and the terms needs to be changed or the newly rental premises price,
rental period and deposit etc. should further compromise with both parties.

		5.	Matters not covered in this contract will be supplemented according to <Contract Law of P.R.C.> after compromise with
both parties; supplementary agreement has the same juristic force with contract.

		6.	For this contract, Chinese version is the standardized form with four copies, each party keep two copies with equal juristic
force. Contract will be force into effective upon signed by representatives of each party.

 

	The Landlord (stamped)	 	The Tenant (stamped)
	 	 	 
	Legal Representative (signed)	 	Legal Representative (signed)
	 	 	 
	Date:2011___month___date	 	Date:2011___month___dateSUBSCRIPTION AGREEMENT

San Lotus Holding Inc.

a Nevada Corporation

 

 

  

The undersigned (sometimes referred to herein
as “Subscriber”) hereby subscribes to purchase the number of shares of Common Stock (the “Shares”) of San
Lotus Holding Inc., a Nevada Corporation (the “Company”) indicated below.  The undersigned understands that,
if accepted, its subscription is irrevocable, but that it may be rejected for any reason in the sole discretion of the Company.

 

In consideration for the acceptance by
the Company of this Subscription Agreement, the Subscriber hereby 

agrees, represents and warrants as follows:

 

1.           Acceptance
or Rejection of Subscription.  The Company shall have the right to accept or reject this subscription in whole or
in part.  If rejected, the Subscriber's check and Subscription Documents (as defined below) shall be promptly returned
to the Subscriber.  If accepted, the Subscriber's check will be forwarded directly to the Company, and Subscriber's Investor
Questionnaire and Subscription Agreement (collectively referred to herein as the "Subscription Documents") will be retained
by the Company.

 

2.           Closing.  If
the Company has not received and accepted subscriptions and the closing date is not extended in the sole discretion of the Company
for up to an additional ninety (90) days (the "Closing Date"), the Offering will terminate and any unaccepted investments
in the possession of the Company, along with all Subscription Documents, shall be promptly returned to the Subscriber.

 

3.           Agreement
to Indemnify.  The Subscriber hereby agrees to indemnify and hold harmless the Company and all of its directors,
officers, agents and employees from any and all damages, losses, costs and expenses (including reasonable attorneys' fees) which
they may incur (i) by reason of the Subscriber's failure to fulfill any of the terms and conditions of this Agreement, (ii) by
reason of the Subscriber's breach of any of the Subscriber's representations, warranties or agreements contained herein or in the
Investor Questionnaire, and (iii) with respect to any and all claims made by or involving any person, other than the Subscriber,
claiming any interest, right, title, power or authority regarding the Subscriber's purchase of Shares.  The Subscriber
further agrees and acknowledges that this indemnification agreement shall survive any sale or transfer, or attempted sale or transfer,
of any portion of the Subscriber's Shares or upon the Subscriber's death.

 

4.           Representations,
Warranties and Covenants.  The Subscriber hereby represents, warrants, and covenants that:

(i)           Subscriber
acknowledges that the Shares have not been registered with the Securities and Exchange Commission pursuant to the Securities Act
of 1933, as amended (the “Securities Act”), nor have the Shares been registered or qualified for sale under the laws
of any other jurisdiction (either within or outside of the United States).

(ii)         Subscriber
is acquiring the Shares for Subscriber’s own account and not for the account of others and for investment purposes only.

(iii)          All
subsequent offers and sales of the Shares by Subscriber shall be made in compliance with the Securities Act, pursuant to registration
under the Securities Act or pursuant to an exemption from such registration.

(iv)         Subscriber
understands that the Shares are being offered and sold to it in reliance on specific exemptions from the registration requirements
of U.S. federal and state securities laws and that the Company is relying upon the truth and accuracy of the representations, warranties,
agreements acknowledgments and understandings of Subscriber set forth in the Subscription Agreement and Investor Questionnaire
in order to determine the applicability of such exemptions and the suitability of Subscriber to acquire the Shares.

(v)        Subscriber
has adequate net worth and means of providing for his or her current needs and personal contingencies to sustain a complete loss
of his or her investment in the Shares and has no need for liquidity in this investment.

(vi)       The Company has
made available to Subscriber, its counsel and advisors, if any, the opportunity to ask questions of, and receive answers from,
the Company and its representatives concerning the terms and conditions of an investment in the Shares, and has given it access
to any requested information, documents, financial statements, books and records relative to the Company and an investment in the
Shares.

 

    	 

    	 

    

 

(vii)          If
the Subscriber is a corporation, it is duly organized, validly existing and in good standing under the laws of the jurisdiction
of its incorporation, and if the Subscriber is a partnership or other organization, it is duly organized, validly existing and
in good standing under the laws of its jurisdiction of organization.

(viii)           (a)
If the Subscriber is a corporation, the execution, delivery and performance of this Agreement has been duly authorized by all necessary
corporate action; (b) if the Subscriber is a partnership or other organization, all governing documents necessary to enter into
this Agreement and to consummate the transactions contemplated hereby, and all necessary consents and approvals required by the
partnership agreement or other governing documents have been obtained; and (c) for both corporations and partnerships, this Agreement
constitutes a legal, valid and binding obligation of the Subscriber, enforceable against the Subscriber in accordance with its
terms, except to the extent that enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium
and similar laws affecting creditors' rights generally.

(ix)          Subscriber
is aware that investing in the Shares is speculative and involves a high degree of risk and that any right to transfer Shares in
the Company is limited and restricted by law and this Subscription Agreement.

(x)         Subscriber
has evaluated the risks of investing in the Shares and has substantial experience in making investment decisions of this type or
is relying on his advisors or Purchase Representative, if applicable, in making this investment decision.

(xi)        Subscriber
understands that the shares subject to this Subscription Agreement will be registered under a Registration Statement on Form S-1,
filed with the Securities and Exchange Commission, however, until such Registration Statement has been declared effective by the
Securities and Exchange Commission, a legend will be placed on any certificate representing the Shares substantially as follows:

 

THIS SECURITY HAS NOT BEEN REGISTERED
OR QUALIFIED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES OR BLUE SKY LAWS OF ANY STATE AND MAY BE OFFERED AND SOLD ONLY
IF REGISTERED AND QUALIFIED PURSUANT TO THE RELEVANT PROVISIONS OF UNITED STATES FEDERAL AND STATE SECURITIES OR BLUE SKY LAWS
OR IF AN EXEMPTION FROM SUCH REGISTRATION OR QUALIFICATION IS APPLICABLE.

 

The foregoing representations, warranties, and covenants and
all other information which the Subscriber has provided to the Company concerning the Subscriber and the Subscriber's financial
condition (or concerning the entity or organization which the subscriber represents and its financial condition) are true and accurate
as of the date hereof.

 

5.           Subscription
Agreement Binding on Heirs, Successors and Assigns.  This Subscription Agreement shall be binding upon the Subscriber's
heirs, successor’s estate, legal representatives and assigns, and shall be construed in accordance with the laws of the State
of Nevada.

 

6.           Execution
Authorized.  If this Subscription Agreement and the other relevant Subscription Documents are executed on behalf
of a corporation, partnership, trust or other entity, the Subscriber has been duly authorized and empowered legally to represent
such entity and to execute this Subscription Agreement and such Subscription Documents and all other instruments in connection
with the purchase of the Shares, and the Subscriber's signature is binding upon such entity.

 

7.           Legal
Representation/Conflict of Interest.  The Subscriber, by executing this Subscription Agreement acknowledges, represents
and agrees that (a) the Company has retained legal counsel to represent it in connection with the preparation of this Subscription
Agreement. (b) such legal counsel has prepared such documents with a view to the interests of the Company only and has not undertaken
to represent the interest of the Subscriber and that no attorney-client relationship or fiduciary duty exists between such legal
counsel and the Subscriber, notwithstanding that the Subscriber's investment may pay, directly or indirectly, for such legal services;
(c) the Subscriber has been advised to have such legal documents reviewed by the Subscriber's own independent attorney and/or other
advisors; and (d) the services performed by such legal counsel have been limited to the preparation of such documentation at the
request and direction of the Company and such legal counsel has not undertaken to conduct any investigation whatsoever concerning
the facts, risks or circumstances concerning or relating to the investment and/or the background or financial qualifications of
the Company.

 

    	 

    	 

    

 

8.           Governing
Law and Venue.  This Agreement shall be construed in accordance with, and governed by, the laws of the State of Nevada
with venue proper in Nevada.

 

9.           Definition
of Terms.  The terms used herein, if not otherwise defined herein, shall have the meanings attributed to such terms
in the Agreement.  All pronouns and any variations thereof used herein shall be deemed to refer to the masculine, feminine,
neuter, singular or plural as the identity of the person or persons herein may require.

 

10.           Number
of Shares.  The undersigned hereby subscribes for Units as follows:

_____________ @ $ 0.1 per share = $ _________________

 

All checks should be made payable to:  “San
Lotus Holding Inc.”

 

11.          Taxpayer
Identification Number Certification.

 

	 	 	 
	Social Security or Tax I.D. No.	 	Social Security or Tax I.D. No.

 

I declare that the number shown in this Subscription Agreement
is my correct taxpayer identification number and/or social security number (or I am waiting for a number to be issued to me), that
I have read and understood the foregoing documents, and that I desire to purchase the shares herein under the terms set forth in
this Subscription Agreement.

 

	Signature 	 	 	Signature 	 

	Date 	 	 	Date 	 

 

TYPE OF OWNERSHIP (Check one)

 

	
         ̈ INDIVIDUAL
        OWNERSHIP

         (One signature required)
	 	
              ̈
        COMMUNITY PROPERTY

         (one signature required if interest held in one name,
        i.e., managing spouse; two signatures required if interest held in both names)

	 	 	 
	
         ̈ JOINT TENANTS
        WITH RIGHT OF SURVIVORSHIP

         (both or all parties must sign)

         
	 	
              ̈
        CORPORATION

         (Please include certified Corporate Resolution authorizing
        signature)

	
         ̈ PARTNERSHIP

        (Please include a copy of the Statement of Partnership Agreement
        authorizing signature)
	 	
                ̈
        TRUST

         (Please include a copy of the Trust Agreement)

 

 

 

[Please print above the exact name(s) in which the Shares is
to be held]

 

    	 

    	 

    

  

IN WITNESS WHEREOF, the undersigned has executed this
Subscription Agreement this ____ day of ______, 2012.

 

	 	 	 
	Subscriber #1 Signature	 	Subscriber #2 Signature
	Subscriber #1 Print or Type Name and	 	Subscriber #2 Print or Type Name and
	Title (if applicable)	 	Title (if applicable)
	 	 	 
	 	 	 
	Telephone Number	 	Telephone Number
	 	 	 
	 	 	 
	Street Address	 	Street Address
	 	 	 
	 	 	 

	City	State	Zip	 	City	State	Zip

 

	SUBSCRIPTION ACCEPTED:
	San Lotus Holding Inc.
	 	 
	By:	 
	 	Authorized Officer
	Dated:

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