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Hunter, James and Rob,

The trip was very fruitful. A highlight was the following announcement: http://www.businesswire.com/news/home/20170329005415/en/Cowen-CEFC-China-Announce-Strategic-Partnership. This was put together in 11 weeks, a record in the history of US-China cross-border financial services transactions. It is a testament to CEFC's commitment to global expansion, strategic decisiveness and strengths in execution.

Chairman Ye received the Project White Light progress update and was consistent with the vision that CEFC had previously laid out and discussed with you all. He was also clear on the expectation of going through a simple but necessary due process to bring that vision to reality. That is the base material we requested below, not 240 pages. If this base material is viewed by you as "too much distraction", we need to talk to make sure we don't misunderstand each other and that we don't miscommunicate with any one.

It is important. On behalf of the Chairman, I am available for a principal-to-principal meeting if necessary.

Rick

On Apr 7, 2017, at 2:06 AM, James Gilliar <james.gilliar@eei-group.com<mailto:james.gilliar@eei-group.com>> wrote:

Dear Rick,


I hope that you are well and that your trip to China was successful, can you please update us on the outputs of your meetings with Chairman Ye, and if we have any revisions to the framework agreement that you had sent us already.

We are currently embarked on several developments with CEFC and director Zang had instructed me to establish the platform ASAP, we have prepared a 240 page document, which is being reviewed, however the director
has told me to focus ion the base material that you require for the company establishment at this time, and not to distract the process to much.

Looking forward to your reply

kindest regards


James Gilliar
President and managing partner
Email: james.gilliar@eei-group.com<mailto:james.gilliar@eei-group.com>
Skype ID: james.gilliar

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On 17 Mar 2017, at 17:24, X. Rick Niu <rick.niu@starrcompanies.com<mailto:rick.niu@starrcompanies.com>> wrote:

Safe travels, James.

Attached please find the framework agreement with edits per our last meeting. Please review and comment on this working document.

Rick

From: James Gilliar <james.gilliar@eei-group.com<mailto:james.gilliar@eei-group.com>>
Date: Friday, March 17, 2017 at 4:15 AM
To: Rick Niu <rick.niu@starrcompanies.com<mailto:rick.niu@starrcompanies.com>>
Cc: Hunter Biden <rhbdc@icloud.com<mailto:rhbdc@icloud.com>>, "Rob J. Walker" <rob.walker@j2cr.com<mailto:rob.walker@j2cr.com>>, Tammy Wang <Tammy.Wang@starrcompanies.com<mailto:Tammy.Wang@starrcompanies.com>>
Subject: Re: Project White Light

Dear Rick


Thanks for the update, we are working through the summaries and positions, lot of stuff to summarise.

I will travel in next days to meet director Zang.

Kindest
James Gilliar
President and managing partner
Email: james.gilliar@eei-group.com<mailto:james.gilliar@eei-group.com>
Skype ID: james.gilliar

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error, please notify the system manager. This message contains confidential information and is intended only for the individual named. If you are not the named addressee, you should not disseminate, distribute or copy this email. Please notify the sender immediately by email if you have received this email by mistake and delete this email from your system. If you are not the intended recipient, you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited.


On 16 Mar 2017, at 23:16, X. Rick Niu <rick.niu@starrcompanies.com<mailto:rick.niu@starrcompanies.com>> wrote:

Colleagues, our apologies for the delay in sending you the framework agreement edits. Coming soon. Rick

On Mar 14, 2017, at 12:18 PM, X. Rick Niu <rick.niu@starrcompanies.com<mailto:rick.niu@starrcompanies.com>> wrote:

Hunter,

It was great speaking to you late last week. Tammy and I also had a call with James and Rob this morning in follow-up. In summary, we envision the following activities over the next two weeks.

1. By 3/15 we provide the latest revised framework agreement based on our last meeting in NYC for your review and comments. Follow-up discussion will be scheduled separately.

2. You provide us with:

- A personal biography and disclosure of your commercial activities and non-profit affiliations; current thinking as to what to keep, what to stop and how to transition upon assuming full-time executive capacity at JV.

- An initial list of proposed candidates for either full-time or senior-adviser positions; names, current positions, proposed roles, biographies and qualifications.

- A proposed list of actionable projects for the JV upon inception; very specific guidelines were given to James and Rob earlier today.

- First draft of the above will be provided to us by 3/18, followed by a walk through/group Q&A via phone around 3/20, and then a revision sent to us by 3/27.

Hunter, I found our first meeting constructive and encouraging. We look forward to these concrete next steps. See you again soon.

Stay warm,

Rick

--
X. Rick Niu
President & CEO
Starr Strategic Holdings LLC
399 Park Avenue
New York, NY 10022


<Framework Agreement v2.doc>