Subject: Fwd: 答复: BHR Directorship Issues
From: "Mesires, George R." <[email-masked]>
To: "Eric D. Schwerin" <[email-masked]>
Cc: "Martin, George D." <[email-masked]>, "R. Hunter Biden" <[email-masked]>
Date: Fri, 8 Jul 2016 03:33:38 +0000

Eric,

Please see the email below. You can share this with Xin and brooch our view of how the board should be reconstituted.

George

George R. Mesires
Partner
[email-masked]<mailto:[email-masked]>    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<x-apple-data-detectors://2/1>

Begin forwarded message:

From: "Mesires, George R." <[email-masked]<mailto:[email-masked]>>
Date: July 7, 2016 at 11:31:26 PM EDT
To: "Matthew L. Schwartz" <[email-masked]<mailto:[email-masked]>>
Cc: "Martin, George D." <[email-masked]<mailto:[email-masked]>>, David Nelson <[email-masked]<mailto:[email-masked]>>
Subject: Fwd: 答复: BHR Directorship Issues

Matthew:

I've conferred with our client and we think that it's best that we seek an arrangement such that the U.S. owners appoint three directors in total, one of whom would be Vice Chair. Two of those director appointments could be on account of Hunter's equity stake and the other from Thronton's. We recognize that the relevant governing documents will need amending to effectuate this. The three directors from our view would be Hunter, who would serve as Vice Chair, Jim Bulger, and Eric Schwerin.

I understand that Devon submitted (draft?) resignation letter today and sought to appoint Hunter into a second position. This proposal does not comport with our view of how (and the manner by which) the board should be reconstituted.

Please let me know if you'd like to set a call to discuss. We can also discuss what you've been thinking about how to handle RSB's equity stake.

Thank you, Matt.

George

George R. Mesires
Partner
[email-masked]<mailto:[email-masked]>    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<x-apple-data-detectors://2/1>

George R. Mesires
Partner
[email-masked]<mailto:[email-masked]>    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<x-apple-data-detectors://2/1>

Begin forwarded message:

From: 王昕 <[email-masked]<mailto:[email-masked]>>
Date: July 7, 2016 at 11:12:34 PM EDT
To: "'Mesires, George R.'" <[email-masked]<mailto:[email-masked]>>, "'Matthew L. Schwartz'" <[email-masked]<mailto:[email-masked]>>, 'Michael Leonard' <[email-masked]<mailto:[email-masked]>>, 'James Bulger' <[email-masked]<mailto:[email-masked]>>, "'Eric Schwerin'" <[email-masked]<mailto:[email-masked]>>
Cc: 'Jonathan Li' <[email-masked]<mailto:[email-masked]>>, <[email-masked]<mailto:[email-masked]>>, "'YU, Felix'" <[email-masked]<mailto:[email-masked]>>
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
Cel: +86 139 1162 0708
[email-masked]<mailto:[email-masked]>

发件人: 王昕 [mailto:[email-masked]]
发送时间: Friday, July 1, 2016 1:17 PM
收件人: 'Mesires, George R.' <[email-masked]<mailto:[email-masked]>>; 'Matthew L. Schwartz' <[email-masked]<mailto:[email-masked]>>; 'Michael Leonard' <[email-masked]<mailto:[email-masked]>>; 'James Bulger' <[email-masked]<mailto:[email-masked]>>; 'Eric Schwerin' <[email-masked]<mailto:[email-masked]>>
抄送: 'Jonathan Li' <[email-masked]<mailto:[email-masked]>>; [email-masked]<mailto:[email-masked]>' <[email-masked]<mailto:[email-masked]>>; 'YU, Felix' <[email-masked]<mailto:[email-masked]>>
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
Cel: +86 139 1162 0708
[email-masked]<mailto:[email-masked]>

发件人: 王昕 [mailto:[email-masked]]
发送时间: Tuesday, June 14, 2016 10:46 AM
收件人: 'Mesires, George R.' <[email-masked]<mailto:[email-masked]>>; 'Matthew L. Schwartz' <[email-masked]<mailto:[email-masked]>>; 'Michael Leonard' <[email-masked]<mailto:[email-masked]>>; 'James Bulger' <[email-masked]<mailto:[email-masked]>>; 'Eric Schwerin' <[email-masked]<mailto:[email-masked]>>
抄送: 'Jonathan Li' <[email-masked]<mailto:[email-masked]>>; [email-masked]<mailto:[email-masked]>' <[email-masked]<mailto:[email-masked]>>; 'YU, Felix' <[email-masked]<mailto:[email-masked]>>
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
Cel: +86 139 1162 0708
[email-masked]<mailto:[email-masked]>

发件人: 王昕 [mailto:[email-masked]]
发送时间: Tuesday, June 7, 2016 12:14 PM
收件人: 'Mesires, George R.' <[email-masked]<mailto:[email-masked]>>; 'Matthew L. Schwartz' <[email-masked]<mailto:[email-masked]>>; 'Michael Leonard' <[email-masked]<mailto:[email-masked]>>; 'James Bulger' <[email-masked]<mailto:[email-masked]>>; 'Eric Schwerin' <[email-masked]<mailto:[email-masked]>>
抄送: 'Jonathan Li' <[email-masked]<mailto:[email-masked]>>; [email-masked]<mailto:[email-masked]>' <[email-masked]<mailto:[email-masked]>>; 'YU, Felix' <[email-masked]<mailto:[email-masked]>>
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
Cel: +86 139 1162 0708
[email-masked]<mailto:[email-masked]>