Document:

Exhibit 4.2

 

Form of Representative’s Warrant
to Purchase Ordinary Shares

 

THE REGISTERED HOLDER OF THIS PURCHASE
WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED
AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE
WARRANT OR CAUSE IT TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE
EFFECTIVE ECONOMIC DISPOSITION OF THIS PURCHASE WARRANT BY ANY PERSON FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE
EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) VIEWTRADE SECURITIES, INC. OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION
WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF VIEWTRADE SECURITIES, INC. OR OF ANY SUCH UNDERWRITER OR SELECTED
DEALER AND IN ACCORDANCE WITH FINRA RULE 5110(G)(2).

 

THIS PURCHASE WARRANT IS VOID AFTER 5:00
P.M., EASTERN TIME, [●].1

 

PURCHASE WARRANT

 

For the Purchase of [●] Ordinary
Shares

of

Oriental Culture Holding LTD

 

1. Purchase
Warrant. THIS CERTIFIES THAT, pursuant to that certain Underwriting Agreement, dated [●], 2020 (the “Underwriting
Agreement”), by and between Oriental Culture Holding LTD (the “Company”), and ViewTrade Securities,
Inc., as representative of the underwriters named on Annex A thereto, providing for the initial public offering (the “Offering”)
of ordinary shares, par value $0.00005 per share, of the Company (the “Ordinary Shares”), ViewTrade Securities,
Inc. or its assigns (“Holder”), as registered owner of this Purchase Warrant, is entitled, at any time or from
time to time on or after [●] (the “Commencement Date”)2, and at or before 5:00 p.m., Eastern
time, [●]3 (the “Expiration Date”), but not thereafter, to subscribe for, purchase and receive,
in whole or in part, up to [●]4 Ordinary Shares (the “Shares”), subject to adjustment as
provided in Section 6 hereof. If the Expiration Date is a day on which banking institutions are authorized by law or executive
order to close, then this Purchase Warrant may be exercised on the next succeeding day which is not such a day in accordance with
the terms herein. During the period commencing on the date hereof and ending on the Expiration Date, the Company agrees not to
take any action that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable at $[●] per
Share5; provided, however, that upon the occurrence of any of the events specified in Section 6 hereof,
the rights granted by this Purchase Warrant, including the exercise price per Share and the number of Shares to be received upon
such exercise, shall be adjusted as therein specified. This Purchase Warrant is being issued pursuant to the Underwriting Agreement
providing for the Offering. The term “Effective Date” shall mean the effective date of the registration statement
in connection with the Offering. The term “Exercise Price” shall mean the initial exercise price or the adjusted
exercise price, depending on the context.

 

 

1 Date that is five years from the Effective Date.

2 Applicable Closing Date.

3 Date that is five years from the Effective Date.

4 8% of the Shares sold in the Offering at the
applicable Closing Date.

5 110% of the price
of the Shares sold in the Offering at the applicable Closing Date.

 

    

    	 

    

 

2. Exercise.

 

2.1 Exercise
Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed and
delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased
payable in cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or
official bank check to the order of the Company. If the subscription rights represented hereby shall not be exercised at or before
5:00 p.m., Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without further force or effect,
and all rights represented hereby shall cease and expire.

 

2.2 Cashless
Exercise. At any time after the Commencement Date, in lieu of exercising this Purchase Warrant by payment of cash or check
payable to the order of the Company pursuant to Section 2.1 above, Holder may elect to receive the number of Shares equal
to the value of this Purchase Warrant (or the portion thereof being exercised) by surrender of this Purchase Warrant to the Company,
together with the exercise form attached hereto, in which event the Company shall issue to Holder Shares in accordance with the
following formula:

 

Y(A-B)

X = A

 

Where,

 

X = The number of Shares to be issued to Holder;

Y = The number of Shares that
would be issuable upon exercise of this Purchase Warrant if such exercise were by means of a cash exercise pursuant to Section
2.1 rather than a cashless exercise pursuant to this Section 2.2;

A = The fair market value of
one Share, as determined in accordance with the provisions of this Section 2; and

B = The Exercise Price in effect
under this Purchase Warrant at the time the election to exercise this Purchase Warrant on a cashless basis is made pursuant to
this Section 2.

 

For purposes of this
Section 2.2, the fair market value of a Share is defined as follows:

 

(i) if
the Ordinary Shares are traded on a national securities exchange, the fair market value shall be deemed to be the closing sales
price on such exchange on the Trading Day immediately prior to the date the exercise form is submitted to the Company in connection
with the exercise of this Purchase Warrant; or

 

(ii) if
the Ordinary Shares are traded over-the-counter (i.e., on the OTCQB or OTCQX Markets operated by OTC Markets Group, Inc., or any
similar over-the-counter market), the fair market value shall be deemed to be the closing bid price on the Trading Day immediately
prior to the date the exercise form is submitted to the Company in connection with the exercise of this Purchase Warrant; or

 

(iii) if
there is no active public market for the Ordinary Shares, the value shall be the fair market value thereof, as determined in good
faith by the Company’s Board of Directors.

 

“Trading Day”
means a date on which the Ordinary Shares are traded on the NYSE, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq
Global Select Market, the New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the foregoing).

 

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For the avoidance of
doubt, if there is no effective registration statement registering, or no current prospectus available for, the resale of the Shares
underlying this Purchase Warrant by the Holder, then this Purchase Warrant may be exercised, in whole or in part, at such time
by means of a cashless exercise in accordance with the provisions of this Purchase Warrant.

 

2.3 Mechanics
of Exercise.

 

(i) Delivery
of Shares Upon Exercise. The Company shall use commercially reasonable efforts to cause the Shares purchased hereunder to be
transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement permitting the issuance of the Shares or resale of the
Shares or (B), after a period of one hundred eighty (180) days following the Effective Date, this Purchase Warrant is being exercised
via cashless exercise, and otherwise by delivery to the address specified by the Holder in the Notice of Exercise by the date that
is two Trading Days after the latest of (A) the delivery to the Company of the Notice of Exercise, (B) surrender of this Purchase
Warrant (if required) and (C) receipt by the Company of the aggregate Exercise Price as set forth above (including by cashless
exercise, if permitted) (such date, the “Share Delivery Date”). The Shares shall be deemed to have been issued,
and the Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such
Shares for all purposes, as of the date the Purchase Warrant has been exercised and payment to the Company of the aggregate Exercise
Price (or by cashless exercise, if permitted) has been received by the Company and all taxes required to be paid by the Holder,
if any, pursuant to Section 2.3(vi) prior to the issuance of such Shares have been paid.

 

(ii) Delivery
of New Warrants Upon Exercise. If this Purchase Warrant shall have been exercised in part, the Company shall, at the written
request of the Holder and upon surrender of this Purchase Warrant, at the time of delivery of the Shares, deliver to the Holder
a new Purchase Warrant evidencing the rights of the Holder to purchase the unpurchased Shares called for by this Purchase Warrant,
which new Purchase Warrant shall in all other respects be identical with this Purchase Warrant.

 

(iii) Rescission
Rights. If the Company fails to cause its transfer agent to transmit to the Holder the Shares pursuant to Section 2.3(i)
by the Share Delivery Date, unless such failure was not caused by the fault or negligence of the Company, then the Holder will
have the right to rescind such exercise upon written notice to the Company within one Trading Day after the Share Delivery Date.

 

(iv) Compensation
for Buy-In on Failure to Timely Deliver Shares Upon Exercise. In addition to any other rights available to the Holder, if the
Holder has taken all actions necessary under the terms of this Purchase Warrant for such Holder to receive the Shares, if the Company
fails to cause the Transfer Agent to transmit to the Holder the Shares pursuant to an exercise on or before the Share Delivery
Date, unless such failure was not caused by the fault or negligence of the Company, and if after such date the Holder is required
by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases,
Ordinary Shares to deliver in satisfaction of a sale by the Holder of the which the Holder anticipated receiving upon such exercise
(a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s
total purchase price (including brokerage commissions and any other applicable fees, if any) for the Ordinary Shares so purchased
exceeds (y) the amount obtained by multiplying (1) the number of Shares that the Company was required to deliver to the Holder
in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was
executed, and (B) at the option of the Holder, either reinstate the portion of the Purchase Warrant and equivalent number of Shares
for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number
of Ordinary Shares that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder.
For example, if the Holder purchases Ordinary Shares having a total purchase price of $11,000 to cover a Buy-In with respect to
an attempted exercise of Shares with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A)
of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company
written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence
of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder,
at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the
Company’s failure to timely deliver Ordinary Shares upon exercise of the Purchase Warrant as required pursuant to the terms
hereof.

 

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(v) No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Purchase Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise,
the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

(vi) Charges,
Taxes and Expenses. Issuance of Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental
expense in respect of the issuance of such Shares, all of which taxes and expenses shall be paid by the Company, and such Shares
shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however,
that, in the event Shares are to be issued in a name other than the name of the Holder, this Purchase Warrant when surrendered
for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the Company may require,
as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall
pay all transfer agent fees required for prompt processing of any Notice of Exercise.

 

3. Transfer
- General Restrictions. The Holder agrees by his, her or its acceptance hereof, that such Holder will not: (a) sell, transfer,
assign, pledge or hypothecate this Purchase Warrant for a period of one hundred eighty (180) days following the Effective Date
to anyone other than: (i) ViewTrade Securities, Inc. or another underwriter or a selected dealer participating in the Offering,
or (ii) a bona fide officer or partner of ViewTrade Securities, Inc. or of any such underwriter or selected dealer, in each case
in accordance with FINRA Conduct Rule 5110(g)(1), or (b) cause this Purchase Warrant or the securities issuable hereunder to be
the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition
of this Purchase Warrant or the securities hereunder, except as provided for in FINRA Rule 5110(g)(2). One hundred eighty (180)
days after the Effective Date, transfers to others may be made subject to compliance with or exemptions from applicable securities
laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly
executed and completed, together with this Purchase Warrant and payment of all transfer taxes, if any, payable in connection therewith.
The Company shall within five (5) business days transfer this Purchase Warrant on the books of the Company and shall execute and
deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s) expressly evidencing the right
to purchase the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated by any
such assignment. The Company shall register this Purchase Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Purchase Warrant as the absolute owner hereof for the purpose of any exercise hereof or any
distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

 

4. Registration.
The Company shall be required to keep a registration statement effective on Form F-1 (or Form F-3, if the Company is eligible to
use such form) until such date that is the earlier of the date when all of the Shares underlying this Purchase Warrant have been
publicly sold by the Holder or such time as Rule 144 or another similar exemption under the Securities Act of 1933, as amended,
is available for the sale of all of such Holder’s Shares underlying this Purchase Warrant without limitation during a three-month
period without registration.

 

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5. New
Purchase Warrants to be Issued.

 

5.1 Partial
Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised or assigned
in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for
cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or
transfer tax if exercised pursuant to Section 2 hereto, the Company shall cause to be delivered to the Holder without charge
a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase
the number of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised or assigned.

 

5.2 Replacement
on Loss. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation
of this Purchase Warrant, the Company, at its own expense, shall execute and deliver a new Purchase Warrant of like tenor and date.
Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction shall constitute
a substitute contractual obligation on the part of the Company.

 

6. Adjustments.

 

6.1 Adjustments
to Exercise Price and Number of Shares. The Exercise Price and the number of Shares underlying this Purchase Warrant shall
be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1 Share
Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
Ordinary Shares is increased by a share dividend payable in Ordinary Shares or by a split up of Ordinary Shares, spin off, reclassification,
corporate rearrangement, scheme of arrangement or other similar transaction, then, on the effective day thereof, the number of
Shares purchasable hereunder shall be increased in proportion to such increase in outstanding Ordinary Shares, and the Exercise
Price shall be proportionately decreased. Any adjustment made pursuant to this Section 6.1.1 shall become effective immediately
after the record date for the determination of shareholders entitled to receive such share dividend or distribution and shall become
effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

6.1.2 Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 6.1.1 above, if at any time during which this Purchase
Warrant is outstanding the Company grants, issues or sells any securities of the Company which by their terms are convertible into
or exercisable for Ordinary Shares (“Ordinary Share Equivalents”) or other rights to purchase shares, warrants,
securities or other property, pro rata to all of the record holders of the Ordinary Shares (the “Purchase Rights”),
and not the Holder, then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate
Purchase Rights which the Holder could have acquired if the Holder had held the number of Ordinary Shares acquirable upon complete
exercise of this Purchase Warrant immediately before the date on which a record is taken for the grant, issuance or sale of such
Purchase Rights, or, if no such record is taken, the date as of which the record holders of Ordinary Shares are to be determined
for the grant, issue or sale of such Purchase Rights. The provisions of this Section 6.1.2 will not apply to any grant,
issuance or sale of Ordinary Share Equivalents or other rights to purchase shares, warrants, securities or other property of the
Company which is not made pro rata to all of the record holders of Ordinary Shares.

 

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6.1.3 Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding
Ordinary Shares is decreased by a consolidation, combination or reclassification of Ordinary Shares or other similar event, then,
on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such decrease in
outstanding Shares, and the Exercise Price shall be proportionately increased.

 

6.1.4 Replacement
of Shares upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding Ordinary Shares other
than a change covered by Section 6.1.1, 6.1.2 or 6.1.3 hereof or that solely affects the par value of such Ordinary
Shares, or in the case of any share reconstruction or amalgamation or merger or consolidation of the Company with or into another
corporation or other entity (other than a consolidation or share reconstruction or amalgamation in which the Company is the continuing
corporation and that does not result in any reclassification or reorganization of the outstanding Ordinary Shares), or in the case
of any sale or conveyance to another corporation or entity of the property of the Company as an entirety or substantially as an
entirety, or in the case any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another
person) is completed pursuant to which holders of Ordinary Shares are permitted to sell, tender or exchange their shares for other
securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Ordinary Shares, or in the
case the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization
of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary Shares are effectively converted into or
exchanged for other securities, cash or property, or (in the case the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another person or group of persons, whereby such other Person or group
acquires more than 50% of the outstanding Ordinary Shares (not including any Ordinary Shares held by the other Person or other
Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase
agreement or other business combination), then the Holder of this Purchase Warrant shall have the right thereafter (until the expiration
of the right of exercise of this Purchase Warrant) to receive upon the exercise hereof, for the same aggregate Exercise Price payable
hereunder immediately prior to such event, the kind and amount of shares or other securities or property (including cash) receivable
upon such reclassification, reorganization, share reconstruction or amalgamation, or consolidation, or upon a dissolution following
any such sale or transfer, by a Holder of the number of Shares of the Company obtainable upon exercise of this Purchase Warrant
immediately prior to such event; and if any reclassification also results in a change in Shares covered by Section 6.1.1,
6.1.2 or 6.1.3, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 or 6.1.3 and
this Section 6.1.4. The provisions of this Section 6.1.4 shall similarly apply to successive reclassifications, reorganizations,
share reconstructions or amalgamations, or consolidations, sales or other transfers.

 

6.1.5 Changes
in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section
6.1, and any Purchase Warrant issued after such change may state the same Exercise Price and the same number of Shares as are
stated in the initial Purchase Warrant. The acceptance by the Holder of the issuance of a new Purchase Warrant reflecting a required
or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Commencement Date or the computation
thereof.

 

6.2 Substitute
Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation of the Company
with or into, another corporation or other entity (other than a consolidation or share reconstruction or amalgamation which does
not result in any reclassification or change of the outstanding Ordinary Shares), the corporation or other entity formed by such
consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing
that the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated
expiration of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount of shares and other
securities and property receivable upon such consolidation or share reconstruction or amalgamation, by a holder of the number of
Shares of the Company for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share
reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall
be identical to the adjustments provided for in this Section 6. The above provision of this Section shall similarly apply
to successive consolidations or share reconstructions or amalgamations.

 

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6.3 Elimination
of Fractional Interests. The Company shall not be required to issue fractions of Shares upon the exercise of this Purchase
Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being the intent of the parties
that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may be, to the nearest whole
number of Shares or other securities, properties or rights.

 

6.4 Notice
to Holder.

 

6.4.1 Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 6, the Company
shall promptly provide the Holder with a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Shares and setting forth a brief statement of the facts requiring such adjustment.

 

6.4.2 Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Ordinary Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary Shares ,
(C) the Company shall authorize the granting to all holders of the Ordinary Shares rights or warrants to subscribe for or purchase
any shares of capital equity of any class or of any rights, (D) the approval of any shareholders of the Company shall be required
in connection with any reclassification of the Ordinary Shares, any consolidation or merger to which the Company is a party, any
sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Ordinary
Shares are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution,
liquidation or winding up of the affairs of the Company, then, in each case, the Company shall provide the Holder with, at least
10 days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record
is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken,
the date as of which the holders of the Ordinary Shares of record to be entitled to such dividend, distributions, redemption, rights
or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share
exchange is expected to become effective or close, and the date as of which it is expected that holders of the Ordinary Shares
of record shall be entitled to exchange their Ordinary Shares for securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange; provided that the failure to provide such notice or any defect
therein or in the provision thereof shall not affect the validity of the corporate action required to be specified in such notice.
The Holder shall remain entitled to exercise this Purchase Warrant during the period commencing on the date of such notice to the
effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

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7. Reservation
and Listing; Registration Rights.

 

7.1 The
Company shall at all times reserve and keep available out of its authorized Ordinary Shares, solely for the purpose of issuance
upon exercise of this Purchase Warrant, such number of Shares or other securities, properties or rights as shall be issuable upon
the exercise thereof. The Company covenants and agrees that, upon exercise of this Purchase Warrant and payment of the Exercise
Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall be duly
and validly issued, fully paid and non-assessable and not subject to preemptive or similar rights of any shareholder and free and
clear of all liens, taxes and charges. As long as this Purchase Warrant shall be outstanding, the Company shall use commercially
reasonable efforts to cause all Shares issuable upon exercise of this Purchase Warrant to be listed (subject to official notice
of issuance) on all national securities exchanges (or, if applicable, on the OTCQB or OTCQX Markets operated by OTC Markets Group,
Inc., or any similar over-the-counter market) on which the Shares issued to the public in the Offering may then be listed and/or
quoted.

 

7.2 To
the extent the Company does not maintain an effective registration statement for the Shares and cashless exercise is unavailable
to any Holder under Section 2.2 hereof pursuant to which all of the Shares issuable upon exercise of this Purchase Warrant
under Section 2.2 would be tradable upon exercise of this Purchase Warrant upon issuance, and in the further event that
the Company files a registration statement with the Securities and Exchange Commission to register its Ordinary Shares (other than
a registration statement on Form F-4 or S-8, or on another form, or in another context, in which such “piggyback” registration
would be inappropriate), then, for the term of this Purchase Warrant, the Company shall give written notice of such proposed filing
to the Holder as soon as practicable but in no event less than 20 days before the anticipated filing date, which notice shall describe
the amount and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the
proposed managing underwriter or underwriters, if any, of the offering, and offer to the Holder in such notice the opportunity
to register the sale of such number of Shares as such Holder may request in writing within five days following receipt of such
notice (a “Piggyback Registration”). The Company shall use commercially reasonable efforts to cause such Shares
to be included in such registration and shall use commercially reasonable efforts to cause the managing underwriter or underwriters
of a proposed underwritten offering to permit the Shares requested to be included in a Piggyback Registration on the same terms
and conditions as any similar securities of the Company and to permit the sale or other disposition of such Shares in accordance
with the intended method(s) of distribution thereof. All Holders proposing to distribute their securities through a Piggyback Registration
that involves an underwriter or underwriters shall enter into an underwriting agreement in customary form with the underwriter
or underwriters selected for such Piggyback Registration. Notwithstanding the provisions of this Section 7.2, such right to request
Piggyback Registration shall terminate on the fifth anniversary of the Effective Date, in accordance with FINRA Rule 5110(f)(2)(G)(v).

 

8. Certain
Notice Requirements.

 

8.1 Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holder the right to vote or consent or to
receive notice as a shareholders for the election of directors or any other matter, or as having any rights whatsoever as a shareholder
of the Company. If, however, at any time prior to the expiration of this Purchase Warrant and its exercise, any of the events described
in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event at
least fifteen (15) days prior to the date fixed as a record date or the date of closing the transfer books (the “Notice
Date”) for the determination of the shareholders entitled to such dividend, distribution, conversion or exchange of securities
or subscription rights, or entitled to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify
such record date or the date of the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company
shall deliver to each Holder a copy of each notice given to the other shareholders of the Company at the same time and in the same
manner that such notice is given to the shareholders; provided, however, that the Company shall not be obligated to provide any
written notice under this Section 8 if it makes a public announcement of the applicable event via nationally distributed
press release or via a publicly available and legally compliant filing with the U.S. Securities and Exchange Commission.

 

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8.2 Events
Requiring Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the
following events: (i) if the Company shall take a record of the holders of its shares for the purpose of entitling them to receive
a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company
shall offer to all the holders of its shares any additional shares of capital equity of the Company or securities convertible into
or exchangeable for shares of capital equity of the Company, or any option, right or warrant to subscribe therefor, or (iii) a
dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or share reconstruction or
amalgamation) or a sale of all or substantially all of its property, assets and business shall be proposed.

 

8.3 Notice
of Change in Exercise Price; Notice of Exercise Price. The Company shall, within five (5) business days after an event requiring
a change in the Exercise Price pursuant to Section 6 hereof, send notice to the Holder of such event and change (“Price
Notice”). The Price Notice shall describe the event causing the change and the method of calculating the same and shall
be certified as being true and accurate by the Company’s Chief Executive Officer and Chief Financial Officer. The Company
shall, within five (5) business days after receipt by the Company of a written request by the Holder, send notice to the Holder
of the Exercise Price then in effect and the number of Shares or the amount, if any, of other shares, securities or assets then
issuable upon exercise of this Purchase Warrant and shall be certified as being true and accurate by the Company’s Chief
Executive Officer and Chief Financial Officer.

 

8.4 Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall
be deemed to have been duly made when (1) hand delivered, (2) mailed by express mail or private courier service, or (3) if sent
by electronic mail, on the day the notice was sent if during regular business hours and, if sent outside of regular business hours,
on the following business day, to following addresses or to such other addresses as the Company or Holder may designate by notice
to the other party:

 

If to the Holder, to:

 

ViewTrade Securities, Inc.

7280 W. Palmetto Park Road, Suite 310

Boca Raton, FL 33433

Attention: Douglas Aguililla, Director, Investment Banking

Email: dougagui@viewtrade.com

Facsimile: (561) 620-0302

 

with a copy to (which shall not constitute notice):

 

K&L Gates LLP

Southeast Financial Center, Suite 3900

200 South Biscayne Boulevard

Miami, Florida 33131-2399

Attention: Clayton E. Parker, Esq.

Email: Clayton.Parker@klgates.com

Facsimile: (305) 358-7095

 

    9

    	 

    

 

If to the Company, to:

 

Oriental Culture Holding LTD

No. 2, Youzishan Road, Dongba Street

Gaochun District, Nanjing City

Jiangsu Province 210000

People’s Republic of China

Attention: Lijia (Fiona) Ni, Chief Financial Officer

Email: fionani@qq.com

 

with a copy to (which shall not constitute notice):

 

Foster Garvey P.C.

Flour Mill Building

1000 Potomac Street NW, Suite 200

Washington, D.C. 20007-3501

Attention: Jeffrey Li, Esq.

Email: Jeffrey.Li@foster.com

Facsimile: (202) 965-1729

 

9. Miscellaneous.

 

9.1 Amendments.
The Company and the Holder may from time to time supplement, modify or amend this Purchase Warrant by a written agreement signed
by the Company and the Holder. All modifications or amendments shall require the written consent of and be signed by the party
against whom enforcement of the modification or amendment is sought.

 

9.2 Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

 

9.3 Entire
Agreement. This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection
with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and
supersedes all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

9.4 Binding
Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and
their permitted assignees, respective successors, legal representative and assigns, and no other person shall have or be construed
to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions
herein contained.

 

9.5 Governing Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and
construed and enforced in accordance with the internal laws of the State of New York, without giving effect to conflict of laws
principles thereof. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any
way to this Purchase Warrant shall be brought and enforced in the U.S. federal and state courts sitting in the Borough of Manhattan
in the City of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby
waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons
to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested,
postage prepaid, addressed to it at the address set forth in Section 8.4 hereof. Such mailing shall be deemed personal
service and shall be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that
the prevailing party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’
fees and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company
(on its behalf and, to the extent permitted by applicable law, on behalf of its shareholders and affiliates) and the Holder hereby
irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Purchase Warrant or the transactions contemplated hereby.

 

    10

    	 

    

 

9.6 Waiver,
etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall not
be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant or
any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase
Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant shall be
effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver
is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any
other or subsequent breach, non-compliance or non-fulfillment.

 

9.7 Successors
and Assigns. Subject to applicable securities laws, this Purchase Warrant and the rights and obligations evidenced hereby shall
inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted
assigns of Holder. The provisions of this Purchase Warrant are intended to be for the benefit of any Holder from time to time of
this Purchase Warrant and shall be enforceable by the Holder or holder of this Purchase Warrant.

 

9.8 Loss,
Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant or any share certificate relating to
the Shares, if share certificates are issued, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory
to it (which, in the case of the Purchase Warrant, shall not include the posting of any bond), and upon surrender and cancellation
of such Purchase Warrant or share certificate, if share certificates are issued, if mutilated, the Company will make and deliver
a new Purchase Warrant or share certificate, if share certificates are issued, of like tenor and dated as of such cancellation,
in lieu of such Purchase Warrant or share certificate, if share certificates are issued.

 

9.9 Remedies.
The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled
to specific performance of its rights under this Purchase Warrant. The Company agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Purchase Warrant and hereby agrees to
waive and not to assert the defense in any action for specific performance or other equitable remedy that a remedy at law would
be adequate.

 

9.10 Severability.
Wherever possible, each provision of this Purchase Warrant shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Purchase Warrant shall be prohibited by or invalid under applicable law, such provision
shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Purchase Warrant.

 

9.11 Execution
in Counterparts. This Purchase Warrant may be executed in one or more counterparts, and by the different parties hereto in
separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and
the same agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and
delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic
transmission.

 

[Signature Page Follows]

 

    11

    	 

    

 

IN WITNESS WHEREOF, the Company has caused
this Purchase Warrant to be signed by its duly authorized officer as of the ______ day of                    .

 

	 	Oriental Culture Holding LTD
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

Acknowledged and Agreed:

 

VIEWTRADE SECURITIES, INC.

	 	 	 
	By:	 	 
	 	Name: Douglas Aguililla	 
	 	Title:  Director, Investment Banking	 

 

 

[Signature Page to Representative’s
Warrant]

    

    	 

    

 

Form
of Exercise

 

The undersigned holder
hereby exercises the right to purchase _________________ ordinary shares (“Warrant Shares”) of Oriental Culture
Holding LTD (the “Company”), evidenced by the attached Purchase Warrant (the “Purchase Warrant”).
Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Purchase Warrant. Please
issue the Warrant Shares as to which the Purchase Warrant is exercised in accordance with the instructions given below and, if
applicable, a new Purchase Warrant representing the number of Warrant Shares for which the Purchase Warrant has not been exercised.

 

1. Form of Exercise
Price. The Holder intends that payment of the Exercise Price shall be made as:

____________a
“Cash Exercise” with respect to _________________ Warrant Shares; and/or

 

____________a
“Cashless Exercise” with respect to _______________ Warrant Shares.

 

2. Payment of Exercise Price.
In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant
hereto, the holder shall pay the aggregate Exercise Price in the sum of $ to the Company in accordance with the
terms of the Purchase Warrant.

 

3. Delivery of Warrant
Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of the Purchase Warrant.
Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Warrant Shares shall be delivered to
the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

Date: _______________ __, ______

 

 

Name of Registered Holder

	 	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    

    	 

    

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

 

Name: ___________________________________

 

(Print in Block Letters)

 

Address: _________________________________

 

_________________________________

 

 

_________________________________

 

NOTICE: The signature
to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or
any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership
on a registered national securities exchange.

 

    

    	 

    

 

FORM OF ASSIGNMENT

 

FOR VALUE RECEIVED, the undersigned registered
owner of this Purchase Warrant hereby sells, assigns and transfers unto the Assignee named below all of the rights of the undersigned
to purchase ordinary shares, par value $0.00005 per share, of Oriental Culture Holding LTD (the “Company”),
evidenced by this Purchase Warrant, with respect to the number of ordinary shares set forth below.

 

	
         Name of Assignee
	 	Address and Phone Number	 	No. of Shares
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

The undersigned also represents that, by
assignment hereof, the Assignee acknowledges that this Purchase Warrant and the ordinary shares to be issued upon exercise hereof
or conversion thereof are being acquired for investment and that the Assignee will not offer, sell or otherwise dispose of this
Purchase Warrant or any ordinary shares to be issued upon exercise hereof or conversion thereof except under circumstances which
will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws. Further, the Assignee has
acknowledged that upon exercise of this Purchase Warrant, the Assignee shall, if requested by the Company, confirm in writing,
in a form satisfactory to the Company, that the ordinary shares so purchased are being acquired for investment and not with a view
toward distribution or resale.

 

	 	 
	Signature of Holder	 
	 	 
	Date	 

 

The undersigned assignee agrees to be bound
by all of the terms and conditions of this Purchase Warrant.

 

	 	 
	Signature of Assignee	 
	 	 
	DateExhibit 10.7

 

INDEMNIFICATION ESCROW AGREEMENT

 

THIS INDEMNIFICATION ESCROW AGREEMENT (this
“Agreement”) dated as of [●], 2020 is entered into by and among Oriental Culture Holding LTD (the “Company”),
ViewTrade Securities, Inc. (the “Underwriter”), and Pearlman Law Group LLP (the “Escrow Agent”).

 

WITNESSETH:

 

WHEREAS, the Company is offering (the “Offering”)
on a firm commitment basis [●] ordinary shares of the Company, par value $0.00005 per share (plus up to [●] ordinary
shares that the underwriters in the Offering have the option to purchase, and such further ordinary shares as may be registered
pursuant to Rule 462), at an offering price of $[●] per share;

 

WHEREAS, the Company and the Underwriter
expect that the Offering will close on or before the close of business on [●], 2020 (the “Closing Date”);

 

WHEREAS, upon the closing of the Offering,
the Company has agreed to deposit an aggregate amount of Six Hundred Thousand Dollars ($600,000) (the “Escrowed Funds”)
from the proceeds of the Offering to be received by the Company with the Escrow Agent in an interest bearing escrow account, to
be held, invested and disbursed by the Escrow Agent pursuant to the terms and conditions of this Agreement; and

 

WHEREAS, the Escrow Agent is willing to
hold the Escrowed Funds and Investment Gain Funds (as such term is defined in Section 3(d)(v) below) in escrow pursuant
to and subject to the terms and conditions of this Agreement.

 

NOW, THEREFORE, in consideration of the
mutual promises herein contained and intending to be legally bound hereby, the parties hereto hereby agree as follows:

 

1. Appointment
of Escrow Agent. The Company and the Underwriter hereby appoint the Escrow Agent as escrow agent in accordance with the terms
and subject to the conditions set forth herein and the Escrow Agent hereby accepts such appointment.

 

2. Delivery
of the Escrowed Funds. Upon the closing of the Offering, the Escrowed Funds shall be delivered on behalf of the Company to
the Escrow Agent, as escrow agent, into an interest bearing escrow account maintained by the Escrow Agent (the “Escrow
Account”) by wire transfer in accordance with the wire transfer instructions set forth on Schedule A hereto. Such
Escrow Account shall bear interest at such rates as provided from time to time by the bank account in which the Escrow Funds are
deposited. In no event shall the aggregate amount of Escrowed Funds delivered to the Escrow Account be less than Six Hundred Thousand
Dollars ($600,000).

 

    1

    	 

    

 

3. Escrow
Agent to Hold and Disburse the Escrowed Funds and Investment Gain Funds. The Escrow Agent will retain the Escrowed Funds and
Investment Gain Funds in an escrow account and disburse the Escrowed Funds and Investment Gain Funds pursuant to the terms of this
Agreement, as follows:

 

a. The
Escrowed Funds shall be held by the Escrow Agent for the purpose of satisfying the initial $600,000 of the indemnification obligations
of the Company, with respect to the Escrowed Funds, pursuant to and in accordance with Sections 2 and 6 of the Underwriting Agreement
dated [●], 2020 by and between the Company and the Underwriter (the “Underwriting Agreement”), for a period
of 24 months from the closing of the Offering. Disbursement of such Escrowed Funds and Investment Gain Funds shall be determined
by an independent third-party trustee (who shall have the requisite experience determining indemnification claims), to be chosen
by mutual written consent of the Company and the Underwriter. If the Company and the Underwriter are unable to agree on such trustee
within 30 days upon a written claim for indemnification by the Underwriter, such trustee shall be a single arbitrator (with the
requisite experience in determining indemnification claims) selected by the American Arbitration Association’s Miami, Florida
office.

 

b. Notwithstanding
the last sentence of the prior paragraph, in the event that any litigation or proceeding arising out of any matter in connection
with the Offering in connection to the Underwriter acting in its capacity as underwriter (which matter would be covered by the
Company’s indemnification obligations under the Underwriting Agreement) occurring or threatened within 24 months following
the Closing Date and in which the Company, the Underwriter, the Escrow Agent or the Escrowed Funds becomes the subject of such
litigation or proceeding, the Underwriter and the Company hereby authorize the Escrow Agent, at the Underwriter’s sole instruction
upon the Underwriter’s written notice to the Escrow Agent if not otherwise so required, to release and deposit the Escrowed
Funds with the clerk of the court in which the litigation is pending for the purpose of indemnifying and defending the Underwriter
in such litigation and proceeding, and thereupon the Escrow Agent shall be relieved and discharged of any further responsibility
with regard thereto to the extent determined by any such court. The Company and the Underwriter further hereby authorize the Escrow
Agent, if it receives conflicting claims to any of the Escrowed Funds, is threatened with litigation in its capacity as escrow
agent under this Agreement, or if the Escrow Agent determines it is necessary to do so for any other reason relating to this Agreement
or the Offering, to interplead all interested parties in any court of competent jurisdiction and to deposit the Escrowed Funds
with the clerk of that court and thereupon the Escrow Agent shall be relieved and discharged of any further responsibility hereunder
to the parties from which they were received to the extent determined by such court.

 

c. In
all instances, if either (i) no claim for indemnity is made by the Underwriter during the 24-month period from the closing of the
Offering or (ii) it is finally determined that the Underwriter is not entitled to any disbursement (or any further disbursement,
as the case may be) of Escrowed Funds by the conclusion of the 24-month period from the closing of the Offering, the Escrow Agent
shall, upon joint written instruction from the Company and the Underwriter, disburse to the Company the full balance of the Escrowed
Funds (including any Investment Gain Funds) then held by wire transfer of immediately available funds to an account designated
by the Company.

 

d. Upon
written instruction of the Company, with written acknowledgement by the Underwriter, the Escrow Agent may invest the Escrowed Funds
during the term of the Agreement at the sole cost and expense of the Company as follows:

 

i. The
Escrowed Funds may be invested in issuers listed on U.S. national securities exchanges; provided that (1) no investments may be
made in the Company’s securities; (2) no more than 5% of the Escrowed Funds may be invested in one issuer; (3) no more than
15% of the Escrowed Funds may be invested in issuers that have: (A) a market capitalization of less than $1.0 billion; (B) been
public for less than two years; and (C) less than $1.0 million in average daily volume for the 30 days preceding such investment,
and (4) written approval from the Company on the securities and amount to be invested in each issuer prior to such investment.
No portion of the Escrowed Funds shall be invested in any entity which is being underwritten or financed by the Underwriter, or
in a company for which the Underwriter has acted as an investment banker at any time during the eight (8) months prior to such
investment.

 

ii. In
the event the aggregate value of the Escrowed Funds plus the Investment Gain Funds in the Escrow Account decreases to less than
81% of the original amount ($600,000) of Escrowed Funds (“Minimum Equity”) for more than 20 consecutive trading
days, the Company shall promptly (but no later than 10 calendar days following the 20 consecutive trading days following such decrease
of less than 81%) add funds to the Escrow Account to maintain the Minimum Equity.

 

    2

    	 

    

 

iii. Upon
the Escrow Account reaching Minimum Equity, the Company may not use Escrowed Funds, and the Escrow Agent shall not direct such
use, to make new investments until the Escrow Account balance is above the Minimum Equity amount.

 

iv. Upon
request from the Company, the Escrow Agent shall establish a brokerage account in the Company’s name with any FINRA registered
broker-dealer (but not necessarily the Underwriter) chosen by the Company and reasonably satisfactory to the Underwriter (the “Escrow
Broker”). All proposed transactions will be submitted by the Company in writing to the Underwriter with a confirmation
by the Company that such transaction(s) meet the criteria set forth in Sections 3(d)(i)-(iii). The Underwriter will have
two business days after receipt to review the submission. Unless the Underwriter disagrees in writing that the transaction(s) meet
the criteria set forth in Sections 3(d)(i)-(iii) prior to the end of the second business day after receipt of the written
submission by the Company, the Company may submit the transaction request to the Escrow Agent for submission to the Escrow Broker
with a copy to the Underwriter. The Escrow Agent shall instruct the Escrow Broker to submit confirmations of all transactions to
the Escrow Agent, the Company and the Underwriter.

 

v. All
income derived from the interest paid by the bank holding Escrow Account funds and all realized gains from the investments made
pursuant to this Section 3(d) in excess of the Escrowed Funds (“Investment Gain Funds”) shall be disbursed
to the Company as set forth in Section 3(a) above, provided that to the extent Investment Gain Funds exceed $50,000 in excess
of the Minimum Equity, the Company shall be permitted to request a disbursement of such excess funds in an amount of no less than
$50,000 on each March 31, June 30, September 30 or December 31 of any year during the term of this Agreement and prior to the expiration
of the 24 month period set forth in Section 3(a) and the Escrow Agent shall use its best efforts to make such disbursement
within 30 days of receipt of the request from the Company.

 

vi. The
Escrow Agent shall use its best efforts to arrange for the Company to receive regular statements, no less than monthly, (x) from
the banking institution holding the Escrow Account Funds, (y) from the Escrow Broker, and from other parties as may be required,
to show Escrow Account cash balances and investment activity for each month, as well as starting and ending totals for the Escrowed
Funds and Investment Gain Funds.

 

4. Exculpation
and Indemnification of Escrow Agent.

 

a. The
Escrow Agent shall have no duties or responsibilities other than those expressly set forth herein. The Escrow Agent shall have
no duty to enforce any obligation of any person to make any payment or delivery, or to direct or cause any payment or delivery
to be made other than as set forth herein, or to enforce any obligation of any person to perform any other act. The Escrow Agent
shall be under no liability to the other parties hereto or anyone else, by reason of any failure, on the part of any party hereto
or any maker, guarantor, endorser or other signatory of a document or any other person, to perform such person’s obligations
under any such document. Except for amendments to this Agreement referenced below, and except for written instructions given to
the Escrow Agent by the Company and the Underwriter relating to the Escrowed Funds, the Escrow Agent shall not be obligated to
recognize any agreement between or among any of the Company and the Underwriter, notwithstanding that references thereto may be
made herein and the Escrow Agent has knowledge thereof.

 

b. The
Escrow Agent shall not be liable to the Company, the Underwriter, or to anyone else for any action taken or omitted by it, or any
action suffered by it to be taken or omitted, in good faith and acting upon any order, notice, demand, certificate, opinion or
advice of counsel (including counsel chosen by the Escrow Agent), statement, instrument, report, or other paper or document (not
only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of
any information therein contained), which is reasonably believed by the Escrow Agent to be genuine and to be signed or presented
by the proper party or parties hereunder. The Escrow Agent shall not be bound by any of the terms thereof, unless evidenced by
written notice delivered to the Escrow Agent signed by the proper party or parties hereunder and, if the duties or rights of the
Escrow Agent are affected, unless it shall give its prior written consent thereto.

 

    3

    	 

    

 

c. The
Escrow Agent shall not be responsible for the sufficiency or accuracy of the form, or of the execution, validity, value or genuineness
of, any document or property received, held or delivered to it hereunder, or of any signature or endorsement thereon, or for any
lack of endorsement thereon, or for any description therein; nor shall the Escrow Agent be responsible or liable to the Company,
the Underwriter, or to anyone else in any respect on account of the identity, authority or rights, of the person executing or delivering
or purporting to execute or deliver any document or property or this Agreement. Except as otherwise set forth herein, the Escrow
Agent shall have no responsibility with respect to the use or application of the Escrowed Funds pursuant to the provisions hereof.

 

d. The
Escrow Agent shall have the right to assume, in the absence of written notice to the contrary from the proper party or parties
hereunder, that a fact or an event, by reason of which an action would or might be taken by the Escrow Agent, does not exist or
has not occurred, without incurring liability to the Company, the Underwriter, or to anyone else for any action taken or omitted
to be taken or omitted, in good faith and in the exercise of its own best judgment, in reliance upon such assumption.

 

e. To
the extent that the Escrow Agent becomes liable for the payment of taxes, including withholding taxes, in respect of the Investment
Gain Funds, or any payment made hereunder (but not for taxes on the Escrow Fee (as defined below) paid to the Escrow Agent), the
Escrow Agent may pay such taxes from the Escrowed Funds; and the Escrow Agent may withhold from any payment of the Escrowed Funds
and Investment Gain Funds such amount as the Escrow Agent estimates to be sufficient to provide for the payment of such taxes not
yet paid, and may use the sum withheld for that purpose. The Escrow Agent shall be indemnified and held harmless against any liability
for taxes and for any penalties in respect of taxes, on such investment income or payments in the manner provided in Section
4(f).

 

f. The
Escrow Agent will be indemnified and held harmless by the Company and the Underwriter from and against all expenses, including
all counsel fees and disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or proceeding involving
any claim, or in connection with any claim or demand, which in any way, directly or indirectly, arises out of or relates to this
Agreement, the services of the Escrow Agent hereunder, or the monies or other property held by it hereunder, except for claims
relating to gross negligence or reckless misconduct by the Escrow Agent or breach of this Agreement by the Escrow Agent. Promptly,
but no later than 10 business days, after the receipt by the Escrow Agent of notice of any demand or claim or the commencement
of any action, suit or proceeding, the Escrow Agent shall, if a claim in respect thereof is to be made by the Escrow Agent against
the Company, notify the Company and the Underwriter in writing, but the failure by the Escrow Agent to give such notice shall not
relieve the Company from any liability which the Company may have to the Escrow Agent hereunder, unless the failure of the Escrow
Agent to give such notice prejudices or otherwise impairs the Company’s ability to defend any demand, claim, action, suit
or proceeding. Notwithstanding any obligation to make payments and deliveries hereunder, the Escrow Agent may retain and hold,
for such time as it deems necessary, such amount of monies or property, in an aggregate amount not to exceed the Escrowed Funds,
as it shall, from time to time, reasonably deem sufficient to indemnify itself for any such loss or expense.

 

    4

    	 

    

 

g. For
purposes hereof, the term “expense or loss” shall include all amounts paid or payable to satisfy any claim, demand
or liability, or in settlement of any claim, demand, action, suit or proceeding settled with the express written consent of the
Escrow Agent, and all costs and expenses, including, but not limited to, counsel fees and disbursements, paid or incurred in investigating
or defending against any such claim, demand, action, suit or proceeding.

 

5. Indemnification
Obligations. The indemnification obligations of the Company to the Underwriter, for which the Escrowed Funds are to be applied
when and if required by the terms thereof, are set forth in Section 6 of the Underwriting Agreement, to which reference is made.
No provision of this Agreement shall be deemed to override or supersede the provisions of such Section 6.

 

6. Termination
of Agreement and Resignation of Escrow Agent.

 

a. This
Agreement shall terminate upon disbursement of all of the Escrowed Funds and Investment Gain Funds provided that the rights of
the Escrow Agent and the obligations of the Company and the Underwriter under Section 4 shall survive the termination hereof.

 

b. The
Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Company and the Underwriter
at least 15 business days’ written notice thereof (the “Notice Period”). As soon as practicable after
its resignation, the Escrow Agent shall, if it receives notice from the Company and the Underwriter within the Notice Period, turn
over to a successor escrow agent appointed by the Company and the Underwriter all Escrowed Funds and Investment Gain Funds (less
such amount as the Escrow Agent is entitled to continue to retain and hold in escrow pursuant to Section 4(e) and Section
4(f)) upon presentation of the executed documentation appointing the new escrow agent and its acceptance thereof. If no new
escrow agent is so appointed within the Notice Period, the Escrow Agent shall return the Escrowed Funds and Investment Gain Funds
to the Company without deduction.

 

7. Form
of Payments by Escrow Agent.

 

a. Any
payments of the Escrowed Funds by the Escrow Agent pursuant to the terms of this Agreement shall be made by wire transfer of immediately
available funds unless directed to be made by check by the Underwriter and/or Company, as applicable.

 

b. All
amounts referred to herein are expressed in United States Dollars and all payments by the Escrow Agent shall be made in such dollars.

 

8. Compensation.
Escrow Agent shall be entitled to $12,500 as compensation (the “Escrow Fee”) for its services rendered under
this Agreement, which amount shall be delivered by the Company to an account designated by the Escrow Agent on the same date when
the Escrowed Funds are delivered into the Escrow Account and which shall be deemed earned in full upon payment. The Company shall
also reimburse the Escrow Agent for any pre-approved expenses incurred or made by the Escrow Agent in performance of its duties
hereunder.

 

    5

    	 

    

 

9. Notices.
All notices, demands, consents, requests, instructions and other communications to be given or delivered or permitted under or
by reason of the provisions of this Agreement or in connection with the transactions contemplated hereby shall be in writing and
shall be deemed to be delivered and received by the intended recipient as follows: (i) if personally delivered, on the business
day of such delivery (as evidenced by the receipt of the personal delivery service), (ii) if mailed certified or registered mail
return receipt requested, on the business day of such delivery (as evidenced by the signed certified mail card), (iii) if delivered
by overnight courier (with all charges having been prepaid), on the business day of such delivery (as evidenced by the receipt
of the overnight courier service of recognized standing), (iv) if delivered by facsimile transmission, on the business day of such
delivery if sent by 6:00 p.m. in the time zone of the recipient, or if sent after that time, on the next succeeding business day
(as evidenced by the printed confirmation of delivery generated by the sending party’s telecopier machine), or (v) if delivered
by email on the business day of such delivery (as evidenced by delivery confirmation). If any notice, demand, consent, request,
instruction or other communication cannot be delivered because of a changed address of which no notice was given (in accordance
with this Section 9), or the refusal to accept same, the notice, demand, consent, request, instruction or other communication
shall be deemed received on the second business day the notice is sent (as evidenced by a sworn affidavit of the sender). All such
notices, demands, consents, requests, instructions and other communications will be sent to addresses or facsimile numbers as applicable
set forth hereunder.

 

If to the Company, to:

 

Oriental Culture Holding LTD

No. 2, Youzishan Road, Dongba Street

Gaochun District, Nanjing City

Jiangsu Province 210000

People’s Republic of China

Attention: Lijia (Fiona) Ni, Chief Financial
Officer

Email: fionani@qq.com

 

with a copy to (which shall not constitute
notice):

 

Foster Garvey P.C.

Flour Mill Building

1000 Potomac Street NW, Suite 200

Washington, D.C. 20007-3501

Attention: Jeffrey Li, Esq.

Email: Jeffrey.Li@foster.com

Facsimile: (202) 965-1729

 

If to the Underwriter, to:

 

ViewTrade Securities, Inc.

7280 West Palmetto Park Road, Suite 310

Boca Raton, FL 33433

Attention: Douglas Aguililla, Director,
Investment Banking

Email: dougagui@viewtrade.com

Facsimile: (561) 620-0302

 

with a copy to (which shall not constitute
notice):

 

K&L Gates LLP

Southeast Financial Center, Suite 3900

200 South Biscayne Boulevard

Miami, Florida 33131-2399

Attention: Clayton E. Parker, Esq.

Email: Clayton.Parker@klgates.com

Facsimile: (305) 358-7095

 

    6

    	 

    

 

If to the Escrow Agent, to: 

 

Pearlman Law Group LLP

200 South Andrews Avenue, Suite 901

Fort Lauderdale, FL 33301

Attention: Brian Pearlman

Email: brian@pslawgroup.net

Facsimile: (954) 755-2993

 

10. Further
Assurances. From time to time on and after the date hereof, the Company and the Underwriter shall deliver or cause to be delivered
to the Escrow Agent such further documents and instruments and shall do and cause to be done such further acts as the Escrow Agent
shall reasonably request (it being understood that the Escrow Agent shall have no obligation to make any such request) to carry
out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith or to assure itself that it
is protected in acting hereunder.

 

11. Consent
to Service of Process. The Company, the Underwriter and the Escrow Agent hereby irrevocably consent to the jurisdiction
of the courts of the State of Florida and of any Federal court located in such state in connection with any action, suit or proceedings arising out of or relating to this Agreement or any
action taken or omitted hereunder, and waives personal service of any summons, complaint or other process and agrees that the
service thereof may be made by certified or registered mail directed to it at the address listed hereto.

 

12. Miscellaneous.

 

a. This
Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing such
instrument to be drafted. The terms “hereby,” “hereof,” “hereunder,” and any similar terms,
as used in this Agreement, refer to the Escrow Agreement in its entirety and not only to the particular portion of this Agreement
where the term is used. The word “person” shall mean any natural person, partnership, corporation, government and any
other form of business of legal entity. All words or terms used in this Agreement, regardless of the number or gender in which
they were used, shall be deemed to include any other number and any other gender as the context may require. This Agreement shall
not be admissible in evidence to construe the provisions of any prior agreement.

 

b. This
Agreement and the rights and obligations hereunder of the Company and the Underwriter may not be assigned without the consent of
the Escrow Agent, other than by laws of descent or operation of law. This Agreement and the rights and obligations hereunder of
the Escrow Agent may be assigned by the Escrow Agent, with the prior consent of the Company. This Agreement shall be binding upon
and inure to the benefit of each party’s respective successors, heirs and permitted assigns. No other person shall acquire
or have any rights under or by virtue of this Agreement. This Agreement may not be changed orally or modified, amended or supplemented
without an express written agreement executed by the Escrow Agent, the Company and the Underwriter, which consent shall not be
unreasonably withheld. This Agreement is intended to be for the sole benefit of the parties hereto and their respective successors,
heirs and permitted assigns, and none of the provisions of this Agreement are intended to be, nor shall they be construed to be,
for the benefit of any third person.

 

c. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Florida. The representations
and warranties contained in this Agreement shall survive the execution and delivery hereof and any investigations made by any party.
The headings in this Agreement are for purposes of reference only and shall not limit or otherwise affect any of the terms thereof.

 

13. Execution
of Counterparts. This Agreement may be executed in any number of counterparts, by facsimile or other form of electronic transmission,
each of which shall be deemed to be an original as of those whose signature appears thereon, and all of which shall together constitute
one and the same instrument. This Agreement shall become binding when one or more of the counterparts hereof, individually or taken
together, are signed by all parties hereto.

 

[SIGNATURE PAGE FOLLOWS]

 

    7

    	 

    

 

IN WITNESS WHEREOF, the parties have executed
and delivered this Agreement on the day and year first above written.

 

	ESCROW AGENT: 	 
	 	 	 
	PEARLMAN LAW GROUP LLP	 
	 	 	 
	By:	 	 
	Name: 	 	 
	Title:	 	 
	 	 	 
	COMPANY:	 
	 	 	 
	Oriental Culture Holding LTD	 
	 	 	 
	By:	 	 
	Name: 	 	 
	Title: 	 	 
	 	 	 
	UNDERWRITER:	 
	 	 	 
	VIEWTRADE SECURITIES, INC.	 
	 	 	 
	By:	    	 
	Name: 	Douglas Aguililla	 
	Title: 	Director, Investment Banking	 

 

[Signature Page to Indemnification Escrow Agreement]

 

    

    	 

    

 

Schedule A

 

ACCOUNT NAME:

 

ACCOUNT NO.:

 

ABA ROUTING NO.:

 

SWIFT CODE:

 

BANK:

 

REFERENCE:

 

ATTN:

 

COMPANY EIN/TIN:

 

TO BE WIRED IN U.S. DOLLARS

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