Document:

ex101.htm

    
      Exhibit
        No. 10.1

      

       

      ESCROW
        AGREEMENT

       

      

      THIS
        ESCROW AGREEMENT, made and entered into this 28th day of May, 2007, among
        Harbin
        SenRun Forestry Development Co., Ltd., a corporation organized under the
        laws of
        the P.R. China (“Harbin SenRun”), Everwin Development Ltd, a corporation
        organized under the laws of British Virgin Islands (“Everwin”), Jin Yuan Global
        Limited, a corporation organized under the laws of the Hong Kong SAR of the
        P.R.
        of China (“Hong Kong Jin Yuan”), the Jin Yuan Global Limited Trust, a Hong Kong
        trust created pursuant to a Trust and Indemnity Agreement dated March 10,
        2007
        (the “Jin Yuan Global Limited Trust”) (Everwin, Hong Kong Jin Yuan and the Jin
        Yuan Global Limited Trust being hereinafter referred to as the “SenRun
        Shareholders”), and Harold H. Martin, an attorney licensed to practice law in
        the State of North Carolina (the “Escrow Agent”).

      

      RECITALS:

      

      A.                      Harbin
        SenRun, the SenRun Shareholders, Patriot Investment Corporation, a Nevada
        corporation (the “Company”), and Bradley Shepherd, the President and majority
        shareholder of the Company (“Shepherd”) have or will enter into a Share Exchange
        Agreement (the “Share Exchange Agreement”), pursuant to which the Everwin will
        transfer all of its 100% share capital in Hong Kong Jin Yuan, which beneficially
        owns100% of the share capital of Harbin SenRun, to the Company in exchange
        for
        3,000,000 shares of the Company’s common stock, and Hong Kong Jin Yuan and
        Harbin SenRun shall become wholly owned subsidiaries of the
        Company.

      

      B.                      In
        addition, Harbin SenRun, the SenRun Shareholders, the Company, Shepherd and
        Todd
        Gee, a director and shareholder of the Company (“Gee”) (Shepherd and Gee being
        hereinafter referred to as the “Sellers”) have or will enter into a Stock
        Purchase Agreement (the “Stock Purchase Agreement”), pursuant to which the
        Everwin will purchase 44,630,000 shares of common stock (the “Shares”) of the
        Company from the Sellers for $575,000 (the “Purchase Price”).

      

      C.                      Inasmuch
        as Everwin now owns 100% of the issued share capital of Hong Kong Jin Yuan,
        Everwin will be a signatory to the definitive agreements, and will act as
        the
        agent for the SenRun Shareholders with respect to this Agreement and any
        required communications to or from Escrow Agent

      

      D.                      The
        Purchase Price is payable by the SenRun Shareholders to the Sellers pursuant
        to
        the Stock Purchase Agreement upon the satisfaction or waiver of the conditions
        of closing which are or will be set forth in the Stock Purchase
        Agreement.

      

      E.                      The
        Stock Purchase Agreement will provide, among other things, that at Closing
        the
        Escrow Agent shall wire transfer the sum of $550,000.000 (the “Escrow Funds”) to
        Shepherd as representative of the Sellers, and the SenRun Shareholders shall
        instruct Mark N. Schneider, counsel to the Sellers, to release an additional
        amount of $25,000.000 that he now holds in escrow as a deposit pursuant to
        a
        separate escrow agreement.

      
 

      
        
           

        

        
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            1
            -

          
            

          

        

        
           

        

      

       

      F.                      The
        obligations of the parties to the Stock Purchase Agreement to close and complete
        the transactions contemplated thereby are subject to the satisfaction or
        waiver
        of the conditions of closing which are or will be set forth in the Stock
        Purchase Agreement.

      

      G.                      The
        Escrow Agent is willing to use his attorney trust account at Wachovia Bank,
        N.A.
        to hold the Escrow Funds until such time as they are either delivered to
        the
        Sellers or returned to the SenRun Shareholders, at the sole direction of
        Everwin, pursuant to the terms of this Agreement and the Stock Purchase
        Agreement.

      

      NOW,
        THEREFORE, in consideration of the mutual covenants and promises herein
        contained and other good and valuable considera­tion, it is agreed as
        follows:

      

      1.  Recitals.
        All of the above recitals are true and correct.

       

      2.  Establishment
        of Escrow Account. The parties hereto shall establish, and by execution of
        this Agreement hereby agree to establish, an escrow with the Escrow Agent,
        which
        escrow shall hold the Escrow Funds which shall be deposited in the Escrow
        Agent’s Attorney Trust Account at Wachovia Bank, N.A., Cornelius, North
        Carolina, Account No. 2000017313982, with an ABA Routing No. of
        053000219.

       

      3.  Escrow
        Period. The Escrow Agent agrees to receive and hold the Escrow Funds in
        accordance with the terms of this Agreement. The “Escrow Period” shall begin on
        the date hereof and shall terminate on the date of the last of the following
        events to occur: (i) the Closing of the transactions contemplated by the
        Stock
        Purchase Agreement; (ii) the failure of the Sellers to satisfy the conditions
        of
        Closing attributable to them or the waiver of such conditions by the SenRun
        Shareholders. If no Closing occurs by June 7, 2007, then the Escrow Funds
        shall
        be returned by an instruction from Everwin. Everwin has been authorized by
        Harbin SenRun and the SenRun Shareholders as the sole person to give
        instructions to the Escrow Agent to return the Escrow Funds.

       

      4.  Conditions
        to a Release of Escrow Funds. The obligation of the Escrow Agent to release
        the Escrow Funds from escrow to the Sellers is subject to the delivery by
        Everwin of a signed certificate advising the Escrow Agent that the conditions
        to
        closing of the Stock Purchase Agreement have been satisfied and instructing
        the
        Escrow Agent to disburse the Escrow Funds to Sellers in payment for the Shares.
        Everwin has been authorized by Harbin SenRun and the SenRun Shareholders
        as the
        sole person to give instructions to the Escrow Agent to disburse the Escrow
        Funds to Sellers in payment for the Shares.

      

      5.  Disbursements
        from the Escrow Account. Upon the disbursement of the Escrow Funds in
        accordance with Section 4 above, the Escrow Agent will have no further
        responsibility with respect to the Escrow Funds so disbursed and no further
        responsibility under this Agreement.

      

      6.  Rights,
        Duties and Responsibilities of Escrow Agent. It is understood and agreed
        that the duties of the Escrow Agent are purely ministerial in nature. It
        is
        further agreed that:

       

      
        	
                a.  

              	
                The
                  Escrow Agent shall not be responsible for the performance by the
                  parties
                  of their obligations under this
                  Agreement.

              

      

       

      
        
           

        

        
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            -

          
            

          

        

        
           

        

      

       

      
        	
                b.  

              	
                The
                  Escrow Agent shall have the right to act in reliance upon any certificate,
                  document, instrument or signature believed by it in good faith
                  to be
                  genuine and to assume that any person purporting to give any notice
                  or
                  instructions in accordance with this Agreement or in connection
                  with any
                  transaction to which this Agreement relates has been duly authorized
                  to do
                  so. The Escrow Agent shall not be obligated to make any inquiry
                  as to the
                  authority, capacity, existence or identity of any person purporting
                  to
                  give any such notice or instructions. The Escrow Agent is authorized,
                  in
                  its sole discretion, to disregard any and all notices or instructions
                  given by any of the Company or by any other person, firm or corporation,
                  except only such notices or instructions as are herein provided
                  for and
                  orders or process of any court.

              

      

       

      
        	
                c.  

              	
                In
                  the event that the Escrow Agent shall be uncertain as to its duties
                  or
                  rights hereunder or shall receive instructions with respect to
                  the Escrow
                  Funds which, in its sole opinion, are in conflict with either other
                  instructions received by it or any provision of this Agreement,
                  it shall
                  be entitled to hold the Escrow Funds, or a portion thereof, in
                  the Escrow
                  Account pending the resolution of such uncertainty to the Escrow
                  Agent’s
                  sole satisfaction; by entry of an order, judgment or decree by
                  a court or
                  courts of competent jurisdiction or otherwise; or the Escrow Agent,
                  at its
                  option, may deposit the Escrow Funds in the registry of a court
                  of
                  competent jurisdiction in a proceeding to which all parties in
                  interest
                  are joined. Upon so depositing such funds and filing its complaint
                  and
                  interpleader, the Escrow Agent shall be completely discharged and
                  released
                  from further liability.

              

      

       

      
        	
                d.  

              	
                The
                  Escrow Agent shall not be liable for any action taken or omitted
                  hereunder
                  except in the case of its bad faith, gross negligence or willful
                  misconduct. The Escrow Agent shall be entitled to consult with
                  counsel of
                  its own choosing and shall not be liable for any action taken,
                  suffered or
                  omitted by it in reasonable reliance upon the advice of such counsel.
                  Any
                  reasonable expenses incurred by Escrow Agent in connection with
                  such
                  consultation shall be reimbursed by the SenRun
                  Shareholders.

              

      

       

      
        	
                e.  

              	
                The
                  Escrow Agent shall have no responsibility at any time to ascertain
                  whether
                  or not any security interest exists in the Escrow Funds or any
                  part
                  thereof or to file any financing state­ment under the Uniform
                  Commercial Code with respect to the Escrow Funds or any part
                  thereof.

              

      

       

      
        	
                f.  

              	
                This
                  Agreement sets forth exclusively all of the duties of the Escrow
                  Agent
                  with respect to any and all matters related hereto and no implied
                  duties
                  or obligations shall be added to this Agreement against the Escrow
                  Agent,
                  apart from those explicitly set forth
                  herein.

              

      

       

      7.  No
        Interests Created in Fund. The Escrow Agent shall not issue any certificate
        of deposit, stock certificates or any other instrument or document representing
        any interest in the Escrow Funds, except that it may send a written notice
        to
        the SenRun Shareholders acknowledging receipt or disbursement of the deposited
        funds.

      

      8.  Amendment;
        Resignation. This Agreement may be altered or amended only with the written
        consent of Harbin SenRun, the SenRun Shareholders and the Escrow Agent, in
        which
        event notice of any such amendment shall be provided to the Company and the
        Sellers at the addresses set forth in the Stock Purchase Agreement within
        one
        business day following the execution of such amendment. The Escrow Agent
        may
        resign as Escrow Agent at any time upon ten (10) days’ prior written notice to
        the parties.  In the case of the Escrow Agent’s resignation, its only
        duty shall be to hold and dispose of the Escrow Funds in accordance with
        the
        original provisions of this Agreement until a successor Escrow Agent shall
        be
        appointed and written notice of the name and address of such successor Escrow
        Agent shall be given to the Escrow Agent by Harbin SenRun and the SenRun
        Shareholders, whereupon the Escrow Agent’s only duty shall be to pay over to the
        successor Escrow Agent the Escrow Funds.

      

      
        
           

        

        
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      9.  Fees
        and Expenses. The Escrow Agent shall, in addition to the indemnification
        provided for in Section 10 below, be entitled to be reimbursed by the SenRun
        Shareholders for any reasonable expenses for performing its obligations in
        connection with this Agreement.

      

      10.  Indemnification.  Harbin
        SenRun and the SenRun Shareholders, jointly and severally, agree to indemnify
        the Escrow Agent and its officers, agents, directors, partners and employees
        (herein, jointly and severally the “Indemnitees”) against, and hold them
        harmless of and from, any and all loss, liability, cost, damage and expense,
        including without limitation, reasonable attorneys’ fees, which the Indemnitees
        may suffer or incur by reason of any action, claim or proceeding brought
        by any
        party against the Indemnitees, arising out of or relating in any way to this
        Agreement or any transaction contemplated by this Agreement, or in the
        performance of its duties hereunder including, but not limited to any
        interpleader action brought pursuant to Section 6(c).

      

      11.  Governing
        Law, Jurisdiction and Venue. This Agreement shall be governed by and
        construed in accordance with the laws of the State of North Carolina and
        the
        proper venue and jurisdiction for any action or claim with respect to this
        Agreement or any document delivered pursuant hereto shall be in the Superior
        Court in Mecklenburg County, North Carolina. The parties agree that service
        of
        process in any such action or claim shall be deemed valid if made by registered
        mail, return receipt requested, sent to the address set forth in Section
        13
        hereof.  Nothing in this Agreement is intended to or shall confer upon
        anyone other than the parties hereto any legal or equitable right, remedy
        or
        claim.

      

      12.  Assignability.
        This Agreement shall not be assignable without the written consent of all
        of the
        parties hereto. All of the terms and provisions of this Agreement shall be
        binding upon, shall inure to the benefit of and shall be enforceable by the
        successors and permitted assigns of the parties.

      

      13.  Notices.
        All notices required or permitted to be given in connec­tion with this
        Agreement  shall be sent by registered or certified mail, return
        receipt required, and addressed as follows:

      

      
        	
                If
                  to Harbin SenRun:

              	
                Room
                  2302, 23/F, 99 Hennessy Road

              
	 	
                Wanchai,
                  Hong Kong SAR of the PRC

              
	 	 
	
                If
                  to SenRun Shareholders:

              	
                Room
                  2302, 23/F, 99 Hennessy Road

              
	 	
                Wanchai,
                  Hong Kong SAR of the PRC

              
	 	 
	
                If
                  to Everwin:

              	
                3rd
                  Floor,
                  Goldlion Digital Network Center

              
	 	
                138
                  Tiyu Road East, Tianhe

              
	 	
                Guangzhou,
                  PRC

              
	 	 
	
                If
                  to the Escrow Agent:

              	
                Harold
                  H. Martin, Esq.

              
	 	
                17115
                  Kenton Drive, Suite 202A

              
	 	
                Cornelius,
                  NC 29031

              

      

       

       

      
        
           

        

        
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      14.
        Severability. If any provision of the Agreement or the application
        thereof to any person or circumstance shall be determined to be invalid or
        unenforceable, the remaining provisions of the Agreement or the application
        of
        such provision to persons or circumstances other than those to which it is
        held
        invalid or unenforceable shall not be affected thereby and shall be valid
        and
        enforceable to the fullest extent permitted by law.

      

      15.
        Execution in Several Counterparts. This Agreement may be executed in
        several counterparts or by separate instruments, and all of such counterparts
        and instruments shall constitute one agreement, binding on all of the parties
        hereto. In addition, facsimile or electronic signatures shall have the same
        legally binding effect as original signatures.

      

      16.
        Entire Agreement. This Agreement constitutes the entire agreement between
        the parties hereto with respect to the subject matter hereof and supersedes
        all
        prior agreements and understandings (written or oral) of the parties in
        connection herewith.

      
 

      IN
        WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
        first written above.

      

      

      
        	 	 	
                HARBIN
                  SENRUN FOREST DEVELOPMENT CO., LTD.

              
	 	 	 
	 	
                By:

              	
                /s/
                  Han, Degong

              
	 	
                Name:

              	
                Mr.
                  Han, Degong

              
	 	
                Title:

              	
                Chairman

              
	 	 	 
	 	 	
                EVERWIN
                  DEVELOPMENT LTD

              
	 	 	 
	 	
                By:

              	
                /s/
                  Man Ha

              
	 	
                Name:

              	
                Man
                  Ha

              
	 	
                Title:

              	
                Director

              
	 	 	 
	 	 	
                JIN
                  YUAN GLOBAL LIMITED

              
	 	 	 
	 	
                By:

              	
                /s/
                  Man Ha

              
	 	
                Name:

              	
                Man
                  Ha

              
	 	
                Title:

              	
                Director

              
	 	 	 
	 	 	
                JIN
                  YUAN GLOBAL LIMITED TRUST

              
	 	 	 
	 	
                By:

              	
                /s/
                  Han, Degong

              
	 	
                Name:

              	
                Mr.
                  Han, Degong

              
	 	
                Title:

              	
                Trustee

              
	 	 	 
	 	 	
                ESCROW
                  AGENT

              
	 	 	 
	 	 	
                HAROLD
                  H. MARTIN, ESQ.

              
	 	 	 
	 	 	
                /s/
                  Harold H. Martin

              
	 	 	
                (In
                  His Individual Capacity)

              

      

      

        
          
             

          

          
            -
              5
              -ex102.htm

    
      Exhibit
        10.2

      

      ESCROW
        AGREEMENT

      

      This
        Escrow Agreement (this “Agreement”) is made and entered into as of May 28, 2007
        by and among Harbin SenRun Forest Development Co., Ltd., a corporation organized
        under the laws of the People’s Republic of China (“Harbin SenRun”), Everwin
        Development Ltd, a corporation organized under the laws of British Virgin
        Islands (“Everwin”), Jin Yuan Global Limited, a corporation organized under the
        laws of the Hong Kong SAR of the People’s Republic of China (“Hong Kong Jin
        Yuan”), the Jin Yuan Global Limited Trust, a Hong Kong trust created pursuant
        to
        a Trust and Indemnity Agreement dated March 10, 2007 (the “Jin Yuan Global
        Limited Trust”) (Everwin, Hong Kong Jin Yuan and the Jin Yuan Global Limited
        Trust being hereinafter referred to as the “SenRun Shareholders”), Patriot
        Investment Corporation, a Nevada corporation (the “Company”), Bradley Shepherd,
        an officer, director and principal shareholder of the Company (“Shepherd”), and
        Mark N. Schneider, a Utah Professional Corporation (the “Escrow
        Agent”).

      

      Recitals

      

      WHEREAS,
        the Company, Harbin SenRun, Hong Kong Jin Yuan and the Jin Yuan Global Limited
        Trust entered into a letter of intent agreement dated as of April 25, 2007
        (the
“Letter Agreement”), pursuant to which the Company will acquire all the share
        capital of Harbin SenRun from the SenRun Shareholders in exchange for 3,000,000
        shares of the Company’s common stock pursuant to a share exchange agreement to
        be entered into among the parties, and Shepherd and Todd Gee, shareholders
        of
        the Company (the “Patriot Shareholders”), will sell 44,630,000 restricted shares
        of the Company’s common stock (the “Patriot Shares”) to
        the SenRun Shareholders in consideration of the payment of Five Hundred Seventy
        Five Thousand U.S. Dollars (US $575,000) (the “Purchase Price”);
        and

      

      WHEREAS,
        Everwin Development Ltd now holds 100% of the issued share capital of Hong
        Kong
        Jin Yuan, will be a signatory to the definitive agreements and will act as
        the
        agent for the SenRun Shareholders with respect to this Agreement and any
        required communications to or from the Escrow Agent.

      

      WHEREAS,
        in order to provide the Company with the assurances it requires as a
        prerequisite to incurring legal fees and other expenses in connection with
        the
        proposed transaction, Section 13 of the Letter Agreement provides that Harbin
        SenRun and/or the SenRun Shareholders will deliver to the Escrow Agent a
        refundable deposit in the amount of U.S. $25,000, which shall be held pursuant
        to this Agreement; and

      

      WHEREAS,
        this Agreement supersedes and replaces the provisions of the Letter Agreement
        with respect to the U.S. $25,000 deposit; and

      

      WHEREAS,
        this Agreement sets forth the basis on which the Escrow Agent will receive
        and
        hold, and make disbursements from, the Escrow Account (as defined below)
        and the
        duties for which the Escrow Agent will be responsible.

      

      
        
           

        

        
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      Agreement

      

      NOW,
        THEREFORE, the parties, intending to be legally bound, agree as
        follows:

      

      
        	
                1)  

              	
                Escrow.
                  The SenRun Shareholders placed into escrow with the Escrow Agent
                  the
                  amount of U.S. $25,000 on or about May 7, 2007 (the “Escrow Deposit”),
                  receipt of which is hereby acknowledged by the Escrow
                  Agent.

              

      

      

      
        	
                2)  

              	
                Acceptance.
                  The Escrow Agent hereby accepts delivery of the Escrow Deposit
                  and agrees
                  to disburse such in accordance with the terms and procedures set
                  forth in
                  this Agreement.

              

      

      

      
        	
                3)  

              	
                Administration
                  of Escrow Fund.

              

      

      Except
        as
        otherwise provided herein, the Escrow Agent shall administer the Escrow Account
        as follows:

      

      
        	
                a)  

              	
                In
                  the event the Escrow Agent receives written notice from Everwin
                  on or
                  before the close of business on May 31, 2007 that the SenRun Shareholders
                  do not wish to consummate the transactions contemplated by the
                  Letter
                  Agreement because they are not satisfied with the results of their
                  due
                  diligence review and investigation of the Company, the Escrow Agent
                  shall
                  promptly refund the Escrow Deposit by paying and delivering the
                  same to
                  Everwin.

              

      

      

      
        	
                b)  

              	
                In
                  the event the Escrow Agent does not receive written notice from
                  Everwin in
                  the manner and within the time period provided in (a) above, the
                  Escrow
                  Agent shall disburse the Escrow Deposit as
                  follows:

              

      

      
        	
                (i)  

              	
                In
                  the event that Closing of the transactions contemplated by the
                  Letter
                  Agreement takes place on or before June 7, 2007, the Escrow Agent
                  shall
                  disburse the Escrow Deposit to the Patriot Shareholders at Closing
                  and the
                  Escrow Deposit shall be credited against the purchase price payable
                  for
                  the Shares by Everwin pursuant to the stock purchase agreement,
                  or

              

      

      

      
        	
                (ii)  

              	
                In
                  the event Closing of the transactions contemplated by the Letter
                  Agreement
                  has not taken place by the close of business on June 7, 2007 for
                  any
                  reason, the Escrow Agent shall disburse the Escrow Deposit to Patriot
                  as
                  agreed upon liquidated damages for its costs and expenses incurred
                  in
                  connection the proposed transactions and not as a penalty. Notwithstanding
                  the foregoing, however, if the Escrow Deposit is paid to Patriot
                  pursuant
                  to this Section 3(b)(ii), and the Closing occurs subsequent to
                  June 7,
                  2006, Patriot shall pay over the Escrow Deposit to the Patriot
                  Shareholders at the Closing and the Escrow Deposit shall be credited
                  against the purchase price payable for the Shares by Everwin pursuant
                  to
                  the stock purchase agreement.

              

      

      

      
        	
                4)  

              	
                Termination
                  of Escrow Account.

              

      

      

      
        	
                a)  

              	
                This
                  Agreement shall terminate effective upon one of the following events:
                  (i)
                  the Escrow Agent shall have received the notice from Everwin described
                  in
                  Section 3(a) hereof and shall have refunded the Escrow Deposit
                  to Everwin;
                  (ii) the Escrow Agent shall have received notice of the Closing
                  as
                  described in Section 3(b)(i) hereof and shall have disbursed the
                  Escrow
                  Deposit to the Patriot Shareholders; (iii) the Escrow Agent shall
                  have
                  received notice from Patriot that Closing has not taken place by
                  the close
                  of business on June 7, 2007 as described in Section 3(b)(ii) hereof,
                  and
                  shall have disbursed the Escrow Deposit to Patriot; or (iv) the
                  Escrow
                  Agent shall have provided written notice to Everwin, the Company
                  and
                  Shepherd that the Escrow Agent has resigned as escrow agent under
                  this
                  Agreement.

              

      

       

      
        
           

        

        
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                5)  

              	
                Limitation
                  of Escrow Agent’s Liability.

              

      

      

      
        	
                a)  

              	
                The
                  Escrow Agent undertakes to perform such duties as are specifically
                  set
                  forth in this Agreement only and shall have no duty under any other
                  agreement or document notwithstanding their being referred to herein.
                  The
                  Escrow Agent shall not be liable except for the performance of
                  such duties
                  as are specifically set forth in this Agreement, and no implied
                  covenants
                  or obligations shall be read into this Agreement against the Escrow
                  Agent.
                  The Escrow Agent shall incur no liability with respect to any action
                  taken
                  by it or for any inaction on its part in reliance upon any notice,
                  direction, instruction, consent, statement or other document believed
                  by
                  it to be genuine and duly authorized, nor for any other action
                  or inaction
                  except for its own willful misconduct or negligence. In all questions
                  arising under this Agreement, the Escrow Agent may rely on the
                  advice of
                  counsel, and for anything done, omitted or suffered in good faith
                  by the
                  Escrow Agent based upon such advice the Escrow Agent shall not
                  be liable
                  to anyone. The Escrow Agent shall not be required to take any action
                  hereunder involving any expense unless the payment of such expense
                  is made
                  or provided for in a manner reasonably satisfactory to it. In no
                  event
                  shall the Escrow Agent be liable for incidental, punitive or consequential
                  damages.

              

      

      

      
        	
                b)  

              	
                Harbin
                  SenRun, the SenRun Shareholders, the Company and the Patriot Shareholders
                  jointly and severally agree to indemnify the Escrow Agent, its
                  officers,
                  directors, employees and agents for, and hold it harmless against,
                  any
                  loss, liability or expense incurred without negligence or willful
                  misconduct on the part of Escrow Agent, arising out of or in connection
                  with its carrying out of its duties hereunder. This right of
                  indemnification shall survive the termination of this Agreement,
                  and the
                  resignation of the Escrow Agent. The costs and expenses of enforcing
                  this
                  right of indemnification shall be paid in equal proportion by Harbin
                  SenRun and the SenRun Shareholders on the one hand and the Company
                  and the
                  Patriot Shareholders on the other
                  hand.

              

      

      

      
        	
                6)  

              	
                Notices.
                  Any notice or other communication required or permitted to be delivered
                  to
                  any party under this Agreement shall be in writing and shall be
                  deemed
                  properly delivered, given and received when delivered personally
                  or by
                  commercial mail (return receipt requested) or sent via facsimile
                  (with
                  confirmation of receipt) to the address or facsimile telephone
                  number set
                  forth below (or to such other address or facsimile telephone number
                  as
                  such party shall have specified in a written notice given to the
                  other
                  parties hereto):

              

      

      

      
        	
                 

              	
                a)     
                  To Escrow Agent:

              

      

      Mark
        N.
        Schneider, A Professional Corporation

      4764
        South 900 East, Suite 3-C

      Salt
        Lake
        City, Utah 84117

      Attention:
        Mark N. Schneider, Esq.

      Telephone: 
        (801) 263-3576

      Facsimile: 
        (801) 685-0949

      

      b)  To
        Harbin
        SenRun or the Harbin SenRun Shareholders:

      C/O
        Harold H. Martin, Esq.

      Counsel
        to Harbin SenRun and the SenRun Shareholders

      17115
        Kenton Drive, Suite 202A

      Cornelius,
        NC 29031

      Telephone: 
        (704) 584-0268

      Facsimile: 
        (704) 895-1528

      

      c)  To
        the
        Company and Shepherd on Behalf of the Patriot Shareholders:

      Patriot
        Investment Corporation

      6269
        Jamestown Court

      Salt
        Lake
        City, Utah 84121

      Telephone: 
        (801) 566-6627

      Facsimile: 
        (801) 255-0655

      

      
        
           

        

        
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            3
            -

          
            

          

        

        
           

        

      

       

      If
        Notice
        is delivered or transmitted by telecopier during the normal business hours
        of
        the recipient, it will be deemed to be received when delivered or sent by
        telecopier. If a Notice is delivered or transmitted by telecopier outside
        of
        normal business hours of the recipient, it will be deemed to be received
        at the
        commencement of normal business hours of the recipient on the next business
        day.

      

      
        	
                7)  

              	
                Miscellaneous.

              

      

      

      
        	
                a)  

              	
                Headings.
                  The underlined headings contained in this Agreement are for convenience
                  of
                  reference only, shall not be deemed to be a part of this Agreement
                  and
                  shall not be referred to in connection with the construction or
                  interpretation of this Agreement.

              

      

      

      
        	
                b)  

              	
                Counterparts.
                  This Agreement may be executed by facsimile in
                  several counterparts, including counterparts by facsimile, each
                  of which
                  shall constitute an original and all of which, when taken together,
                  shall
                  constitute one agreement.

              

      

      

      
        	
                c)  

              	
                Governing
                  Law and Venue. This Agreement shall be construed in
                  accordance with, and governed in all respects by, the internal
                  laws of the
                  State of Utah (without giving effect to principles of conflicts
                  of laws),
                  and the parties agree that any action relating to this Agreement
                  shall be
                  instituted and prosecuted in the court of the County of Salt Lake,
                  State
                  of Utah, and each party waives the right to change of
                  venue.

              

      

      

      
        	
                d)  

              	
                Successors
                  and Assigns. This Agreement shall be binding upon each of the parties
                  hereto and each of their respective permitted successors and assigns,
                  if
                  any. Nothing in this Agreement is intended to confer, or shall
                  be deemed
                  to confer, any rights or remedies upon any person or entity other
                  than the
                  parties hereto and their permitted successors and
                  assigns.

              

      

      

      
        	
                e)  

              	
                Waiver.
                  No failure on the part of any Person to exercise any power, right,
                  privilege or remedy under this Agreement, and no delay on the part
                  of any
                  Person in exercising any power, right, privilege or remedy under
                  this
                  Agreement, shall operate as a waiver of such power, right, privilege
                  or
                  remedy; and no single or partial exercise of any such power, right,
                  privilege or remedy shall preclude any other or further exercise
                  thereof
                  or of any other power, right, privilege or remedy.  No person
                  shall be deemed to have waived any claim arising out of this Agreement,
                  or
                  any power, right, privilege or remedy under this Agreement, unless
                  the
                  waiver of such claim, power, right, privilege or remedy is expressly
                  set
                  forth in a written instrument duly executed and delivered on behalf
                  of
                  such person; and any such waiver shall not be applicable or have
                  any
                  effect except in the specific instance in which it is
                  given.

              

      

      

      
        	
                f)  

              	
                Amendments. This
                  Agreement may not be amended, modified, altered or supplemented
                  other than
                  by means of a written instrument duly executed and delivered by
                  all the
                  parties hereto.

              

      

      

      
        	
                g)  

              	
                Severability. In
                  the event that any provision of this Agreement, or the application
                  of any
                  such provision to any Person or set of circumstances, shall be
                  determined
                  to be invalid, unlawful, void or unenforceable to any extent, the
                  remainder of this Agreement, and the application of such provision
                  to
                  Persons or circumstances other than those as to which it is determined
                  to
                  be invalid, unlawful, void or unenforceable, shall not be impaired
                  or
                  otherwise affected and shall continue to be valid and enforceable
                  to the
                  fullest extent permitted by law.

              

      

       

       

      
        
           

        

        
          -
            4
            -

          
            

          

        

        
           

        

      

      
 

      
        	
                h)  

              	
                Entire
                  Agreement. This Agreement and the other agreements referred to herein
                  set forth the entire understanding of the parties hereto relating
                  to the
                  subject matter hereof and thereof and supersede all prior agreements
                  and
                  understandings among or between any of the parties relating to
                  the subject
                  matter hereof and thereof.

              

      

      

      
        	
                i)  

              	
                Waiver
                  of Jury Trial. Each of the parties hereto hereby
                  irrevocably waives any and all right to trial by jury in any legal
                  proceeding arising out of or related to this Agreement or the transactions
                  contemplated hereby.

              

      

      

      
        	
                j)  

              	
                Escrow
                  Agent is Counsel to Company and Patriot Shareholders. The parties
                  hereto acknowledge and agree that the Escrow Agent is acting as
                  legal
                  counsel to the Company and the Patriot Shareholders in connection
                  with the
                  transactions contemplated by the Letter Agreement and may not be
                  considered to be an independent escrow
                  agent.

              

      

      

      
        	
                k)  

              	
                Construction.
                  For purposes of this Agreement, whenever the context requires:
                  the
                  singular number shall include the plural, and vice versa; the masculine
                  gender shall include the feminine and neuter genders; the feminine
                  gender
                  shall include the masculine and neuter genders; and the neuter
                  gender
                  shall include the masculine and feminine genders. The parties hereto
                  agree
                  that any rule of construction to the effect that ambiguities are
                  to be
                  resolved against the drafting party shall not be applied in the
                  construction or interpretation of this Agreement. As used in this
                  Agreement, the words “include” and “including,” and variations thereof,
                  shall not be deemed to be terms of limitation, but rather shall
                  be deemed
                  to be followed by the words “without
                  limitation.”

              

      

      

      

      

      [The
        balance of this page is left blank intentionally]

      

      

      

      

      

      
        
           

        

        
          -
            5
            -

          
            

          

        

        
           

        

      

      In
        Witness Whereof, the parties have duly executed this Escrow Agreement as
        of the
        date first above written.

      

      
        	
                Harbin
                  SenRun:

              	 	
                HARBIN
                  SENRUN FOREST DEVELOPMENT CO., LTD.

              
	 	 	 
	 	
                By:

              	
                /s/
                  Zhang, Chunman

              
	 	
                Name:

              	
                Zhang,
                  Chunman

              
	 	
                Title:

              	
                Chief
                  Executive Officer

              
	 	 	 
	 	 	 
	
                The
                  SenRun Shareholders:

              	 	
                “Everwin”

                EVERWIN
                  DEVELOPMENT LIMITED

              
	 	 	 
	 	
                By:

              	
                /s/
                  Ha, Man

              
	 	
                Name:

              	
                Ha,
                  Man

              
	 	
                Title:

              	
                Director

              
	 	 	 
	 	 	 
	 	 	
                “Hong
                  Kong Jin Yuan”

                JIN
                  YUAN GLOBAL LIMITED

              
	 	 	 
	 	
                By:

              	
                /s/
                  Ha, Man

              
	 	
                Name:

              	
                Ha,
                  Man

              
	 	
                Title:

              	
                Director

              
	 	 	 
	 	 	 
	 	 	
                “Jin
                  Yuan Global Limited Trust”

                JIN
                  YUAN GLOBAL LIMITED TRUST

              
	 	 	 
	 	
                By:

              	
                /s/ Han,
                  Degong

              
	 	
                Name:

              	
                Han,
                  Degong

              
	 	
                Title:

              	
                Trustee

              
	 	 	 
	 	 	 
	
                The
                  Company:

              	 	
                PATRIOT
                  INVESTMENT CORPORATION

              
	 	 	 
	 	
                By:

              	
                /s/
                  Bradley Shepherd

              
	 	
                Name:

              	
                Bradley
                  Shepherd

              
	 	
                Title:

              	
                President

              
	 	 	 
	 	 	 
	
                Shepherd:

              	 	
                /s/
                  Bradley Shepherd

              
	 	 	
                Bradley
                  Shepherd

              
	 	 	 
	 	 	 
	
                Escrow
                  Agent:

              	 	
                Mark
                  N. Schneider, A Professional Corporation

              
	 	 	 
	 	
                By:

              	
                /s/
                  Mark N. Schneider

              
	 	 	
                Mark
                  N. Schneider, President

              

      

      
        
           

        

        
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