Cancellation Note Sample Contracts

Baoshinn Corporation – Debt Cancellation Note (November 13th, 2015)

Ryder Capital Corp. (Contractor) hereby agrees to forgive absolutely and in its entirety the debt in the amount of $360,000.00 as referenced in the agreement signed between Baoshinn Corporation (Company) and Ryder Capital Corp. dated April 1, 2015 (enclosed as Appendix A - Debt Cancellation for Consulting Contracts and Promissory Notes Agreement) and concurrently the corresponding cancellation and immediate expiration of the Contractor Agreement (enclosed as Appendix B Contractor Agreement) in its entirety and duration, leaving no outstanding balance owing between the Contractor and the Company.

Baoshinn Corporation – Debt Cancellation Note (November 13th, 2015)

Ryder Capital Corp. (Contractor) hereby agrees to forgive absolutely and in its entirety the debt in the amount of $450,000.00 as referenced in the agreement signed between Baoshinn Corporation (Company) and Ryder Capital Corp. dated April 1, 2015 (enclosed as Appendix A - Debt Cancellation for Consulting Contracts and Promissory Notes Agreement) and concurrently the corresponding cancellation and immediate expiration of the Contractor Agreement (enclosed as Appendix B Contractor Agreement) in its entirety and duration, leaving no outstanding balance owing between the Contractor and the Company.

Baoshinn Corporation – Debt Cancellation Note (November 13th, 2015)

Ryder Capital Corp. (Contractor) hereby agrees to forgive absolutely and in its entirety the debt in the amount of $550,000.00 as referenced in the agreement signed between Baoshinn Corporation (Company) and Ryder Capital Corp. dated April 1, 2015 (enclosed as Appendix A - Debt Cancellation for Consulting Contracts and Promissory Notes Agreement) and concurrently the corresponding cancellation and immediate expiration of the Contractor Agreement (enclosed as Appendix B Contractor Agreement) in its entirety and duration, leaving no outstanding balance owing between the Contractor and the Company.