Cancellation Agreement of Promissory Note between San Lotus Holding Inc. and Lo, Fun-Ming
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Summary
San Lotus Holding Inc. and Lo, Fun-Ming entered into an agreement to cancel a promissory note originally valued at TWD $830,490,304. The note, previously held by Green Forest Management Consulting Inc., was used by Lo, Fun-Ming to purchase shares of San Lotus Holding Inc. common stock. Both parties agree that there are no further obligations related to the note, which is now terminated. Lo, Fun-Ming will return the original note to San Lotus Holding Inc. This agreement finalizes the cancellation and confirms that all related obligations are settled.
EX-10.4 5 v371579_ex10-4.htm EXHIBIT 10.4
CANCELLATION OF PROMISSORY NOTE
This Cancellation of Promissory Note (“Cancellation Agreement”) is entered into this 13th day of March, 2014, between San Lotus Holding Inc. (“SLH”) and Lo, Fun-Ming (the “Land Seller”).
RECITALS
| A. | WHEREAS, SLH assumed a certain Promissory Note dated as of March 13, 2014 and originally held by Green Forest Management Consulting Inc. in the original principal amount of Eight Hundred Thirty Million Four Hundred Ninety Thousand Three Hundred Four New Taiwan Dollars (TWD $830,490,304), 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/ 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 | ||||
| 1 |
Schedule A
PURCHASER LIST
| Purchaser | Purchase Amount (TWD) | Purchase Amount(USD) | Purchasing Shares | |||||||||
| DA TEH FU CO., LTD. | $ | 477,531,925 | 16,195,208.70 | 80,134,630 | ||||||||
| DENG DONG LTD | $ | 114,577,430 | 3,885,824.80 | 19,227,238 | ||||||||
| Ocean Reserve Ltd. | $ | 134,741,181 | 4,569,666.30 | 22,610,917 | ||||||||
| WHITE SMALL FISH LTD. | $ | 50,727,912 | 1,720,406.70 | 8,512,651 | ||||||||
| Cheung, Ngai | $ | 99,321 | 3,368.40 | 16,667 | ||||||||
| Wang Wang Ltd. | $ | 1,324 | 44.90 | 222 | ||||||||
| LIAO, MEI-HSUEH | $ | 476,730 | 16,168.00 | 80,000 | ||||||||
| CHEN, CHIH-YEN | $ | 238,365 | 8,084.00 | 40,000 | ||||||||
| Tree of Knowledge Ltd. | $ | 1,324 | 44.90 | 222 | ||||||||
| Aeki Ltd. | $ | 99,321 | 3,368.40 | 16,667 | ||||||||
| CHANG, CHIA-CHEN | $ | 99,315 | 3,368.20 | 16,666 | ||||||||
| UHAO LTD. | $ | 31,780 | 1,077.80 | 5,333 | ||||||||
| HO, CHEN-YEN | $ | 67,493 | 2,289.00 | 11,326 | ||||||||
| YANG, CHUN-YI | $ | 60,968 | 2,067.70 | 10,231 | ||||||||
| YIN,CHIEN | $ | 10,618 | 360.10 | 1,782 | ||||||||
| HSU,CHEN-EN | $ | 2,657 | 90.10 | 446 | ||||||||
| LIU, MING-KUN | $ | 21,852 | 741.10 | 3,667 | ||||||||
| HUANG, CHIN-YEN | $ | 59,591 | 2,021.00 | 10,000 | ||||||||
| JIANG, JIN-AN | $ | 25,821 | 875.70 | 4,333 | ||||||||
| WENG, PENG-HSIANG | $ | 967,105 | 32,798.80 | 162,290 | ||||||||
| Lo, Kun Yuan | $ | 23,836 | 808.40 | 4,000 | ||||||||
| CHEN, CHENG-HUNG | $ | 11,918 | 404.20 | 2,000 | ||||||||
| LIU, YU-LIN | $ | 11,918 | 404.20 | 2,000 | ||||||||
| LU, TIEN-CHANG | $ | 2,981 | 101.10 | 500 | ||||||||
| LIAO, HUI-HSIU | $ | 71,509 | 2,425.20 | 12,000 | ||||||||
| LIU, CHUN-CHENG | $ | 26,818 | 909.50 | 4,500 | ||||||||
| Ocean Reserve Ltd. | $ | 8,757,690 | 297,011.80 | 1,469,628 | ||||||||
| YU, LI-HSIA | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| WANG, CHING-WEN | $ | 20,645 | 700.20 | 3,465 | ||||||||
| WANG, CHI-TSAI | $ | 17,696 | 600.10 | 2,969 | ||||||||
| KU, TSUI-LING | $ | 73,732 | 2,500.60 | 12,373 | ||||||||
| AN, YUNG-CHINA | $ | 943,781 | 32,007.80 | 158,376 | ||||||||
| CHU, WEN-YUAN | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| CHU, MIN-HUA | $ | 53,088 | 1,800.40 | 8,908 | ||||||||
| CHU, SHU-YUN | $ | 324,425 | 11,002.70 | 54,442 | ||||||||
| CHIANG, MIN-CHANG | $ | 115,023 | 3,900.90 | 19,302 | ||||||||
| CHIANG, HUNG-YI | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| CHIANG, CHIN-HSIANG | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| CHIANG, CHING-PO | $ | 70,784 | 2,400.60 | 11,878 | ||||||||
| HO, YU-CHING | $ | 557,420 | 18,904.60 | 93,541 | ||||||||
| HO, HSIV-LAN | $ | 14,454 | 490.20 | 2,426 | ||||||||
| HO, CHING-CHU | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| HO, CHU-CHEN | $ | 12,391 | 420.20 | 2,079 | ||||||||
| WU, HSU-TIEN | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| WU, CHENG-TE | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| WU, MEI-YU | $ | 117,972 | 4,000.90 | 19,797 | ||||||||
| WU, HUA-YING | $ | 825,809 | 28,006.80 | 138,579 | ||||||||
| WU, LUNG-CHENG | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| LEE, YUNG-PAO | $ | 504,332 | 17,104.10 | 84,632 | ||||||||
| LEE, CHAO-TANG | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| 2 |
| LEE, HSIN-CHIN | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| LI, CHIN-YING | $ | 534,712 | 18,134.40 | 89,730 | ||||||||
| LI, KUEI-MEI | $ | 123,871 | 4,201.00 | 20,787 | ||||||||
| LEE, SHIOU-BIN | $ | 1,179,726 | 40,009.70 | 197,970 | ||||||||
| LEE, CHAO-WEN | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| TU, SU-YUN | $ | 324,425 | 11,002.70 | 54,442 | ||||||||
| CHO, YUNG-LANG | $ | 324,425 | 11,002.70 | 54,442 | ||||||||
| CHO, YUNG-FU | $ | 324,425 | 11,002.70 | 54,442 | ||||||||
| CHOU, WEI-CHUN | $ | 6,190 | 209.90 | 1,039 | ||||||||
| CHOU, WEI-TING | $ | 6,190 | 209.90 | 1,039 | ||||||||
| CHOU, WEI-PING | $ | 20,645 | 700.20 | 3,465 | ||||||||
| KUAN, JUI-YUN | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| KUAN, JUI-CHEN | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| LIN, HSIU-FEN | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| LIN, HSIU-CHUN | $ | 88,479 | 3,000.70 | 14,848 | ||||||||
| LIN, LIANG-MEI | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| LIN, YI-SHENG | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| LIN, KUO-HUNG | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| LIN, YU-SHENG | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| LIN, CHING-HAN | $ | 67,835 | 2,300.60 | 11,383 | ||||||||
| LIN, CHAUR-KWANG | $ | 123,871 | 4,201.00 | 20,787 | ||||||||
| CHIU, HSIU-YU | $ | 10,317 | 349.90 | 1,731 | ||||||||
| CHIU, HSIU-MEI | $ | 265,438 | 9,002.20 | 44,543 | ||||||||
| CHIU, JUI-FENG | $ | 92,909 | 3,151.00 | 15,591 | ||||||||
| CHIANG, KUEI-LAN | $ | 117,972 | 4,000.90 | 19,797 | ||||||||
| KO, MEI-CHING | $ | 103,227 | 3,500.90 | 17,323 | ||||||||
| HU, JIAN-HUNG | $ | 44,240 | 1,500.40 | 7,424 | ||||||||
| HU, CHING-HSIEN | $ | 20,645 | 700.20 | 3,465 | ||||||||
| FAN, KUANG-HUNG | $ | 227,098 | 7,701.90 | 38,109 | ||||||||
| HSU, HSIU-CHU | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| HSU, YU-HSIN | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| HSU, LIEN-FA | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| KAO, YU-TSAI | $ | 309,678 | 10,502.50 | 51,967 | ||||||||
| CHANG, LAI-CHU | $ | 117,972 | 4,000.90 | 19,797 | ||||||||
| CHANG, MIN | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| CHANG, CHIA-CHOU | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| CHANG, TE-SUNG | $ | 14,747 | 500.10 | 2,475 | ||||||||
| HSU, YU-LIN | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| KUO, FANG-CHIEN | $ | 589,863 | 20,004.80 | 98,985 | ||||||||
| CHEN, CHIEN-YUN | $ | 235,946 | 8,002.00 | 39,594 | ||||||||
| CHEN, JIAN-YI | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| CHEN, CHUN-HSIANG | $ | 88,479 | 3,000.70 | 14,848 | ||||||||
| CHEN, SHU-HUI | $ | 132,719 | 4,501.10 | 22,272 | ||||||||
| CHEN, LI-MEI | $ | 8,254 | 279.90 | 1,385 | ||||||||
| CHEN, HUANG KUEI-CHIN | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| CHEN, JUI-CHEN | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| CHEN, CHIN-HSIUNG | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| CHEN, TSAI-LIEN | $ | 88,479 | 3,000.70 | 14,848 | ||||||||
| CHEN, YING-CHIU | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| CHEN, LUNG-HSIUNG | $ | 796,314 | 27,006.50 | 133,629 | ||||||||
| CHEN, HUNG-KUN | $ | 2,300,466 | 78,018.90 | 386,041 | ||||||||
| PENG, YUNG-CHE | $ | 176,959 | 6,001.50 | 29,696 | ||||||||
| PENG, HSING-CHIH | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| PENG, HSIU-CHIN | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| PERNG, JIANN-JANG | $ | 442,397 | 15,003.60 | 74,238 | ||||||||
| PENG RSU, YU-MEI | $ | 103,227 | 3,500.90 | 17,323 | ||||||||
| PENG, SU-CHUN | $ | 29,492 | 1,000.20 | 4,949 |
| 3 |
| PENG, MIN-LI | $ | 1,546,922 | 52,462.90 | 259,589 | ||||||||
| PENG, CHEN-CHUAN | $ | 958,528 | 32,507.90 | 160,851 | ||||||||
| TSENG, CHUNG-HSUAN | $ | 117,972 | 4,000.90 | 19,797 | ||||||||
| TSENG, TSAI-HSUAN | $ | 117,972 | 4,000.90 | 19,797 | ||||||||
| TSENG, CHIA-HSUAN | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| TSENG, YUAN-SHUN | $ | 324,425 | 11,002.70 | 54,442 | ||||||||
| TANG, TUNG-SHENG | $ | 61,936 | 2,100.50 | 10,393 | ||||||||
| TANG, SHENG-HANG | $ | 61,936 | 2,100.50 | 10,393 | ||||||||
| HUANG, MIAO-YING | $ | 737,330 | 25,006.10 | 123,731 | ||||||||
| HUANG, MING-JEN | $ | 330,322 | 11,202.70 | 55,431 | ||||||||
| HUANG, MING-YU | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| HUANG, CHIN-CHUN | $ | 247,742 | 8,402.00 | 41,573 | ||||||||
| HUANG, PING-UEN | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| HUANG, KUEI-YUAN | $ | 299,361 | 10,152.60 | 50,236 | ||||||||
| HUANG, SU-CHING | $ | 412,904 | 14,003.40 | 69,289 | ||||||||
| HUANG, CHI-SHIN | $ | 712,265 | 24,156.00 | 119,525 | ||||||||
| HUANG, KUO-HSIEN | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| HUANG, SHU-YING | $ | 103,227 | 3,500.90 | 17,323 | ||||||||
| HUANG, TIEN-SUN | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| HWANG, SHEUE-HUEY | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| HUANG, KUEI-CHU | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| HUANG, CHIN-CHUNG | $ | 1,007,489 | 34,168.40 | 169,067 | ||||||||
| HUANG, HUANG-CHANG | $ | 20,645 | 700.20 | 3,465 | ||||||||
| HUANG, SHIH-WEN | $ | 20,645 | 700.20 | 3,465 | ||||||||
| HUANG, TSAI HIS-CHIAO | $ | 144,516 | 4,901.20 | 24,251 | ||||||||
| HUANG, YI-CHING | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| WAN, CHUNG-YANG | $ | 471,891 | 16,003.90 | 79,188 | ||||||||
| WAN, YU-HUI | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| WAN, YEN-TING | $ | 88,479 | 3,000.70 | 14,848 | ||||||||
| WAN, HOW-YEH | $ | 314,108 | 10,652.80 | 52,711 | ||||||||
| WEN, CHIN-LIEN | $ | 648,850 | 22,005.40 | 108,884 | ||||||||
| WAN, SHU-YUAN | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| WAN, HIS-MEI | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| WAN, JUNG-PING | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| WAN, CHIN-LANG | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| WAN, LI-PING | $ | 1,575,529 | 53,433.10 | 264,389 | ||||||||
| YEH, MU-CHENG | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| YEH, YI-TING | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| LEE YEH, SHU-FEN | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| HSIEH, PEI-CHEN | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| CHAN, YI-KUO | $ | 1,179,726 | 40,009.70 | 197,970 | ||||||||
| LIAO, PO-CHAN | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| LIU, TZU-LUNG | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| LIU, TIN-YU | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| LIU, MEI-LI | $ | 123,871 | 4,201.00 | 20,787 | ||||||||
| LIU, CHUN-HSUN | $ | 88,479 | 3,000.70 | 14,848 | ||||||||
| LIU, SHEN-MEI | $ | 20,645 | 700.20 | 3,465 | ||||||||
| LIU, HUI-LING | $ | 10,317 | 349.90 | 1,731 | ||||||||
| LIU, HSING-CHAO | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| LIU, LAN-JU | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| TSAI, KUN-CHIH | $ | 20,645 | 700.20 | 3,465 | ||||||||
| TSAI, SHU-CHIN | $ | 61,936 | 2,100.50 | 10,393 | ||||||||
| TSAI, HUI-HUANG | $ | 165,162 | 5,601.40 | 27,716 | ||||||||
| TENG, CHIA-PIN | $ | 619,368 | 21,005.50 | 103,936 | ||||||||
| TENG, CHIA-CHI | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| TENG, CHU-YUN | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| TENG, TE-SUNG | $ | 117,972 | 4,000.90 | 19,797 | ||||||||
| CHENG, CHIEN-SHAN | $ | 29,492 | 1,000.20 | 4,949 |
| 4 |
| CHENG, SAEN-CHUAN | $ | 663,595 | 22,505.40 | 111,358 | ||||||||
| LU, FU-HSIUNG | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| HSIAO, CHUNG-HUNG | $ | 70,784 | 2,400.60 | 11,878 | ||||||||
| HSIAO, LI-CHUN | $ | 29,492 | 1,000.20 | 4,949 | ||||||||
| LAI, JIH-HSUAN | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| LAI, YUEH-ER | $ | 20,645 | 700.20 | 3,465 | ||||||||
| LAI, CHIH-LIN | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| LAI, MING-CHUN | $ | 433,549 | 14,703.60 | 72,754 | ||||||||
| LAI, MING-CHU | $ | 132,719 | 4,501.10 | 22,272 | ||||||||
| TAI, CHIEN-KUEI | $ | 88,479 | 3,000.70 | 14,848 | ||||||||
| TAI, TANG-CHIN | $ | 1,445,165 | 49,011.90 | 242,513 | ||||||||
| TAI, I-HUAN | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| TAI, I-YEN | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| TAI, YU-HUAN | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| TAI, CHIA-SHENG | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| HSUEH, WIN-CHUNG | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| HSUEH, CHIN-LUNG | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| HSIEH, PEI-CHI | $ | 2,063 | 70.00 | 346 | ||||||||
| HSIEH, FENG-CHI | $ | 41,291 | 1,400.40 | 6,929 | ||||||||
| CAUNG, WEN-CHENH | $ | 20,645 | 700.20 | 3,465 | ||||||||
| CHUGN, TSAI-MIN | $ | 73,732 | 2,500.60 | 12,373 | ||||||||
| CHIEN, CHIH-MING | $ | 58,987 | 2,000.50 | 9,899 | ||||||||
| CHIEN, SHU-LIN | $ | 88,479 | 3,000.70 | 14,848 | ||||||||
| CHIEN, SHU-HUI | $ | 147,466 | 5,001.20 | 24,746 | ||||||||
| SU, CHIEN-MIN | $ | 600,775 | 20,374.90 | 100,816 | ||||||||
| SU, YUAN | $ | 294,931 | 10,002.40 | 49,492 | ||||||||
| HIS, HUI-MIN | $ | 61,936 | 2,100.50 | 10,393 | ||||||||
| LAI, YI-CHUN | $ | 206,451 | 7,001.70 | 34,645 | ||||||||
| Ocean Reserve Ltd. | $ | 3,765,917 | 127,718.80 | 631,958 | ||||||||
| Joseph Shashaty | $ | 1,787,736 | 60,630.00 | 300,000 | ||||||||
| Vadim Brunell | $ | 1,787,736 | 60,630.00 | 300,000 | ||||||||
| Craig Scott Galper | $ | 1,787,736 | 60,630.00 | 300,000 | ||||||||
| Total: | $ | 830,490,304 | 28,165,580.60 | 139,364,582 |
| 5 |
