EMAIL DETAILS

Joan and Eric:

Please let us know if you will draft the Certificate of Incumbency along the lines that George Martin outlined below, or if you would like us to draft it.

Thank you.

George

From: Martin, George D.
Sent: Wednesday, August 03, 2016 11:34 AM
To: Joan Mayer; Eric Schwerin
Cc: Mesires, George R.; R. Hunter Biden
Subject: RE: 答复: BHR Directorship Issues


Thank you. Eric, for anyone who may need a “Certificate of Incumbency”, not that this is a document designed primarily to confirm the stated position of a company officer to ensure that the person who claims to be the authorized signatory of a company truly is. Incumbency certificates are often issued by the company’s corporate secretary and bear the corporate seal. This makes it an official act of the company. The certificate usually contains information regarding the company's directors and officers, including any applicable terms of office and often includes a signature sample for comparison purposes.

A typical incumbency certificate may be worded as follows: "The undersigned, X, Secretary of ABC Inc. (the "Company"), hereby certifies that the persons named below do hold the position set forth opposite his or her names with the Company, that the signature appearing opposite each such person's name is the true signature of such person, and that they are duly authorized to ..." This mention would then be followed by a list of the directors and officers, the date, and the secretary's signature.
Please advise with any questions.

Best regards,

George

George D. Martin
Partner
george.martin@FaegreBD.com<mailto:george.martin@FaegreBD.com> Download vCard<http://www.faegrebd.com/vcard/george.martin.vcf>
D: +1 612 766 7055 | F: +1 612 766 1600

Faegre Baker Daniels LLP<http://www.FaegreBD.com>
2200 Wells Fargo Center | 90 South Seventh Street | Minneapolis, MN 55402-3901, USA
From: Joan Mayer [mailto:jmayer@rosemontseneca.com]
Sent: Wednesday, August 03, 2016 9:33 AM
To: Eric Schwerin
Cc: Mesires, George R.; R. Hunter Biden; Martin, George D.
Subject: Re: 答复: BHR Directorship Issues

George,
Per you request, attached are the organizational docs and bank reference letter. Thanks!
Joan

On Tue, Aug 2, 2016 at 6:01 PM, Eric Schwerin <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>> wrote:
George-

We are not sure what the certificate of incumbency is. Do you know?

Thanks,

Eric

Eric D. Schwerin
eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>

Sent from my iPhone

On Aug 1, 2016, at 7:27 AM, Mesires, George R. <George.Mesires@faegrebd.com<mailto:George.Mesires@faegrebd.com>> wrote:
Eric - can you please forward to us the organizational and bank reference letter, referenced below?

Thanks.

George

George R. Mesires
Partner
george.mesires@FaegreBD.com<mailto:george.mesires@FaegreBD.com> Download vCard<http://www.faegrebd.com/vcard/george.mesires.vcf>
D: +1 312 356 5101<tel:+1%20312%20356%205101> | M: +1 312 972 4151<tel:+1%20312%20972%204151>

Faegre Baker Daniels LLP<http://www.faegrebd.com/>
311 S. Wacker Drive | Suite 4300 | Chicago, IL 60606, USA

Begin forwarded message:
From: Xiaochuan Han <xiaochuan.han@bhrpe.com<mailto:xiaochuan.han@bhrpe.com>>
Date: August 1, 2016 at 4:08:30 AM EDT
To: <mlschwartz@BSFLLP.com<mailto:mlschwartz@bsfllp.com>>, '王昕' <xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>>, <George.Mesires@FaegreBD.com<mailto:George.Mesires@faegrebd.com>>, <mleonard@thorntonai.com<mailto:mleonard@thorntonai.com>>, <bulger@thorntonai.com<mailto:bulger@thorntonai.com>>, <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>>, <hbiden@rosemontseneca.com<mailto:hbiden@rosemontseneca.com>>
Cc: 'jonathan.li<http://jonathan.li>' <jonathan.li@bhrpe.com<mailto:jonathan.li@bhrpe.com>>, 'Jason Zhu' <jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>>, '余飞强' <felix.yu@bhrpe.com<mailto:felix.yu@bhrpe.com>>, '叶桐' <tong.ye@bhrpe.com<mailto:tong.ye@bhrpe.com>>, <dnelson@BSFLLP.com<mailto:dnelson@bsfllp.com>>, <JEno@BSFLLP.com<mailto:JEno@bsfllp.com>>
Subject: 答复: BHR Directorship Issues
Dear Matthew and George,

Preliminarily, can you please provide, in relation to Ulysses and Skaneateles, certified true copies of:


(i) incorporation documents including certificate of incorporation, memorandum and articles of association;

(ii) other constitutional documents to the extent available (operating agreements, shareholder agreements etc);

(iii) a bank reference letter detailing the company’s accounts and financial information (banks should have their own house form).

Regulators will request additional documents from time to time so please bear with us as we proceed with the amendments.

Note: All incorporation documents shall be certified by a qualified lawyer and U.S. Embassy in China. Please see attached precedent for your reference.

Thanks,
Gilbert/BHR Partners

发件人: Matthew L. Schwartz [mailto:mlschwartz@BSFLLP.com]
发送时间: Tuesday, July 19, 2016 12:09 AM
收件人: 王昕 <xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>>; 'Mesires, George R.' <George.Mesires@FaegreBD.com<mailto:George.Mesires@FaegreBD.com>>; 'Michael Leonard' <mleonard@thorntonai.com<mailto:mleonard@thorntonai.com>>; 'James Bulger' <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>; 'Eric Schwerin' <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>>; hbiden@rosemontseneca.com<mailto:hbiden@rosemontseneca.com>
抄送: 'Jonathan Li' <jonathan.li@bhrpe.com<mailto:jonathan.li@bhrpe.com>>; jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>; 'YU, Felix' <felix.yu@bhrpe.com<mailto:felix.yu@bhrpe.com>>; David Nelson <dnelson@BSFLLP.com<mailto:dnelson@BSFLLP.com>>; Joseph Eno <JEno@BSFLLP.com<mailto:JEno@BSFLLP.com>>
主题: RE: BHR Directorship Issues

Xin-

After conferring with Devon, we wanted to take care of the following outstanding items as it relates to BHR, assuming it all meets with your approval.

1) Please consider Devon’s resignation letter that was emailed to you and which you reference below as a final version and please have his resignation take effect immediately.

2) Please disregard the letter which appoints Hunter to Devon’s Board seat. For the time being, we will leave Devon’s Board seat vacant.

3) We should begin the process to transfer the 20% of the shares of BHR owned by RSB immediately so that 10% will be owned by Skaneateles, LLC (of which the beneficial owners are Hunter Biden and Eric Schwerin) and 10% will be owned by Ulysses Diversified, Inc. (of which the beneficial owner is Devon).

4) Finally, we should begin the process to amend the Articles of Association so that the two Board Seats currently designated to RSB will be designated to Skaneateles, LLC and Ulysses Diversified, Inc, with each entity having a separate right to appoint one director. The three U.S. entities (Ulysses, Skaneateles and Thornton) will jointly designate a Vice-Chair.

I know Devon, Hunter and Jim have all agreed to the above and I am copying Jim Bulger, Hunter Biden, Eric Schwerin and George Mesires as well.

Thanks for your patience on this. Please let us know what additional information you need from us to affect the changes above.
Matthew L. Schwartz
BOIES, SCHILLER & FLEXNER LLP
212-303-3646<tel:212-303-3646> (Direct)
646-337-5787<tel:646-337-5787> (Mobile)


From: 王昕 [mailto:xin.wang@bhrpe.com]
Sent: Thursday, July 7, 2016 11:13 PM
To: 'Mesires, George R.'; Matthew L. Schwartz; 'Michael Leonard'; 'James Bulger'; 'Eric Schwerin'
Cc: 'Jonathan Li'; jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>; 'YU, Felix'
Subject: 答复: BHR Directorship Issues

Dear Matthew,

I received the attached from Devon in relation to his resignation from BHR’s board of directors and RSB’s appointment of Hunter Biden as his replacement. Please note that Hunter is an existing director of BHR. Devon mentioned that you might need to further formalize the letters, however, we need to process the resignation at the earliest and I would be grateful if you could confirm that the attached is in order. Additionally, I would also be grateful for your instructions on the proposed transfer of RSB’s shareholding in BHR to Ulysses, the relevant transfer documents as well as the incorporation documents of Ulysses would be required. Upon your confirmation, we will proceed to make the relevant filings with the PRC regulators.

Xin

Xin Wang 王昕
Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.
渤海华美（上海）股权投资基金管理有限公司
Tel: +86 (10) 5969 5858 ext 816<tel:%2B86%20%2810%29%205969%205858%20ext%20816>
Cel: +86 139 1162 0708<tel:%2B86%20139%201162%200708>
xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>

发件人: 王昕 [mailto:xin.wang@bhrpe.com]
发送时间: Friday, July 1, 2016 1:17 PM
收件人: 'Mesires, George R.' <George.Mesires@FaegreBD.com<mailto:George.Mesires@FaegreBD.com>>; 'Matthew L. Schwartz' <mlschwartz@BSFLLP.com<mailto:mlschwartz@BSFLLP.com>>; 'Michael Leonard' <mleonard@thorntonai.com<mailto:mleonard@thorntonai.com>>; 'James Bulger' <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>; 'Eric Schwerin' <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>>
抄送: 'Jonathan Li' <jonathan.li@bhrpe.com<mailto:jonathan.li@bhrpe.com>>; 'jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>' <jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>>; 'YU, Felix' <felix.yu@bhrpe.com<mailto:felix.yu@bhrpe.com>>
主题: 答复: BHR Directorship Issues

Dear Matthew,

I understand from Devon that he has given instructions for Boies to effect his resignation from BHR’s board and the amendment of his shareholding entity from the existing Rosemont Seneca Bohai LLC to Ulysses. As previously discussed on multiple occasions, please let us know what you need from our end to resolve these issues at the earliest. We have been fending inquiries regarding RSB and Devon’s involvement in ongoing SEC and Justice Department investigations and we urgently need to remove Devon for the time being from our director roster to avoid interruptions to BHR businesses.

Thanks.

Xin

Xin Wang 王昕
Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.
渤海华美（上海）股权投资基金管理有限公司
Tel: +86 (10) 5969 5858 ext 816<tel:%2B86%20%2810%29%205969%205858%20ext%20816>
Cel: +86 139 1162 0708<tel:%2B86%20139%201162%200708>
xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>

发件人: 王昕 [mailto:xin.wang@bhrpe.com]
发送时间: Tuesday, June 14, 2016 10:46 AM
收件人: 'Mesires, George R.' <George.Mesires@FaegreBD.com<mailto:George.Mesires@FaegreBD.com>>; 'Matthew L. Schwartz' <mlschwartz@BSFLLP.com<mailto:mlschwartz@BSFLLP.com>>; 'Michael Leonard' <mleonard@thorntonai.com<mailto:mleonard@thorntonai.com>>; 'James Bulger' <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>; 'Eric Schwerin' <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>>
抄送: 'Jonathan Li' <jonathan.li@bhrpe.com<mailto:jonathan.li@bhrpe.com>>; 'jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>' <jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>>; 'YU, Felix' <felix.yu@bhrpe.com<mailto:felix.yu@bhrpe.com>>
主题: 答复: BHR Directorship Issues

Dear Matthew and George,

I trust you have had a chance to speak to your respective clients since my last email and I am wondering if any updates are available on the matters raised therein.

Xin

Xin Wang 王昕
Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.
渤海华美（上海）股权投资基金管理有限公司
Tel: +86 (10) 5969 5858 ext 816<tel:%2B86%20%2810%29%205969%205858%20ext%20816>
Cel: +86 139 1162 0708<tel:%2B86%20139%201162%200708>
xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>

发件人: 王昕 [mailto:xin.wang@bhrpe.com]
发送时间: Tuesday, June 7, 2016 12:14 PM
收件人: 'Mesires, George R.' <George.Mesires@FaegreBD.com<mailto:George.Mesires@FaegreBD.com>>; 'Matthew L. Schwartz' <mlschwartz@BSFLLP.com<mailto:mlschwartz@BSFLLP.com>>; 'Michael Leonard' <mleonard@thorntonai.com<mailto:mleonard@thorntonai.com>>; 'James Bulger' <jbulger@thorntonai.com<mailto:jbulger@thorntonai.com>>; 'Eric Schwerin' <eschwerin@rosemontseneca.com<mailto:eschwerin@rosemontseneca.com>>
抄送: 'Jonathan Li' <jonathan.li@bhrpe.com<mailto:jonathan.li@bhrpe.com>>; 'jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>' <jason.zhu@bhrpe.com<mailto:jason.zhu@bhrpe.com>>; 'YU, Felix' <felix.yu@bhrpe.com<mailto:felix.yu@bhrpe.com>>
主题: BHR Directorship Issues

Dear Matthew and George,

Hope all is well since we last spoke. I am writing to follow up on the status of Devon’s resignation from BHR’s board / remuneration committee and the appointment of a replacement.

On a related note, I would also like to understand how Devon would like to deal with his shareholding in BHR through Rosemont Seneca Bohai. By way of background, we underwent a shareholder registration amendment last year with the Chinese regulators to change Devon’s shareholding entity from RST to the existing Rosemont Seneca Bohai (the process took altogether more than a year), we were subsequently instructed earlier this year to file another amendment to change Rosemont Seneca Bohai to Ulysses (an entity owned 100% by Devon) but that has been put on hold on account of present circumstances. From BHR’s perspective, we ask the relevant parties to consider, for the time being, a transfer by Rosemont Seneca Bohai of its shareholding to another entity (whether it is to RSP or Thornton or the management team) to avoid potential complications for our U.S. M&A deals and/or U.S. fundraising activities.

Happy to discuss over a call.

Xin

Xin Wang 王昕
Bohai Harvest RST (Shanghai) Equity Investment Fund Management Co., Ltd.
渤海华美（上海）股权投资基金管理有限公司
Tel: +86 (10) 5969 5858 ext 816<tel:%2B86%20%2810%29%205969%205858%20ext%20816>
Cel: +86 139 1162 0708<tel:%2B86%20139%201162%200708>
xin.wang@bhrpe.com<mailto:xin.wang@bhrpe.com>


________________________________
The information contained in this electronic message is confidential information intended only for the use of the named recipient(s) and may contain information that, among other protections, is the subject of attorney-client privilege, attorney work product or exempt from disclosure under applicable law. If the reader of this electronic message is not the named recipient, or the employee or agent responsible to deliver it to the named recipient, you are hereby notified that any dissemination, distribution, copying or other use of this communication is strictly prohibited and no privilege is waived. If you have received this communication in error, please immediately notify the sender by replying to this electronic message and then deleting this electronic message from your computer. [v.1]
<Certified True Copies of Incorporation Documents.pdf>


--
Joan K. Mayer
Rosemont Seneca Advisors, LLC
1010 Wisconsin Avenue NW, Suite 705
Washington, DC 20007
o: 202-333-1880<tel:202-333-1880>
m:202-841-8543<tel:202-841-8543>
jmayer@rosemontseneca.com<mailto:jmayer@rosemontseneca.com>