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Eric and Hunter,

Attached is a draft English version of the equity transfer agreement ("ETA") that will result in Skaneateles acquiring 10% of BHR from RSB, together with a Step Plan, or "Task List", that outlines what is required to complete this transfer. We have a Chinese version of the ETA prepared as well, as this must be submitted to Chinese regulators for approval and processing.

Please review and kindly advise with any questions/comments. After hearing back from you we will share this with in-house counsel for BHR for confirmation, and then RSB for execution.

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>
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Faegre Baker Daniels LLP<http://www.FaegreBD.com>
2200 Wells Fargo Center | 90 South Seventh Street | Minneapolis, MN 55402-3901, USA

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