Document:

Exhibit
10.1

 

AMENDMENT
#3

 

TO
THE $550,000 PROMISSORY NOTE DATED JANUARY 16, 2018

 

The
parties agree that the $550,000 Fixed Convertible Promissory Note (the “Note”) by and between Indoor Harvest Corp.
(the “Borrower”) and Tangiers Global, LLC (the “Lender”) is hereby amended as follows:

 

	1.	Payment.
    The Lender shall make a payment to the Borrower of $101,750 of Consideration ($92,500 in cash and $9,250 in an OID) under
    the Note on or before June 13, 2018. 
	 	 
	2.	Use
    of Proceeds. The Company covenants that it will within, 1.5 month(s) of the Effective Date of this Consideration,
    it shall use approximately $92,500 of the proceeds in the manner set forth below (the “Use of Proceeds”):
	 	 
	 	$54,000
    G&A, $20,000 accounting and legal, $7,000 annual shareholder meeting and $10,000 misc.
	 	 
	3.	Independent
    Transactions. The Borrower understands and agrees that the Note sets forth the terms for a series of independent transactions
    in which the Lender may elect to make a payment of Consideration to the Borrower with each payment of Consideration creating
    a separate obligation of the Borrower to the Lender with the terms set forth in the Note. Accordingly, the Maturity Date of
    each payment of Consideration, and the repayment terms for each payment of Consideration, are as set forth in the Note.
	 	 
	4.	The
    Borrower confirms that it has not undertaken any capital raise, whether through debt or equity, with any other party since
    the Effective Date of the Note.

 

ALL
OTHER TERMS AND CONDITIONS OF THE NOTE REMAIN IN FULL FORCE AND EFFECT.

 

Please
indicate acceptance and approval of this amendment dated June 13, 2018 by signing below:

 

	/s/
    Annette Knebel	 	/s/
    Justin Ederle
	Indoor
    Harvest Corp.	 	Tangiers
    Global, LLC
	 	 	 
	By:	Annette
    Knebel	 	By:	Justin
    Ederle
	Its:	Chief
    Financial Officer	 	Its:	Managing
    MemberExhibit
10.11

 

ESCROW
AGREEMENT 

 

THIS
AGREEMENT (this “Agreement”) is made this                     , 2018 by and among Wah Fu Education Group Limited (the “Issuer”)
and the Underwriter whose name and address appears on the Information Sheet (as defined herein) attached to this Agreement and
Continental Stock Transfer & Trust Company, 1 State Street, 30th Floor, New York, New York 10004 (the “Escrow Agent”).

 

W
I T N E S S E T H:

 

WHEREAS,
the Issuer has filed with the Securities and Exchange Commission (the “Commission”) a Registration Statement
(the “Registration Statement”) covering a proposed public offering of its securities as described on the Information
Sheet (the “Offering”);

 

WHEREAS,
the Underwriter proposes to offer the Securities, as agent for the Issuer, for sale to the public on a “best efforts”
only basis for at least the Minimum Securities Amount and Minimum Dollar Amount and at most the Maximum Securities Amount and
Maximum Dollar Amount and at the price per share or other unit all as set forth, on the Information Sheet;

 

WHEREAS
the Issuer and the Underwriter propose to establish an Escrow Account (the “Escrow Account”), to which
subscription monies which are received by the Escrow Agent from the Underwriter in connection with the Offering are to be credited,
and the Escrow Agent is willing to establish the Escrow Account and the terms are subject to the conditions hereinafter set forth;

 

WHEREAS,
the Escrow Agent has an agreement with JP Morgan Chase (the “Bank”) to establish a special Bank Account (defined
below) into which the subscription monies, which are received by the Escrow Agent from the Underwriter and credited to the Escrow
Account, are to be deposited; and

 

NOW,
THEREFORE in consideration of the premises and mutual covenants herein contained, the parties hereto hereby agree as follows:

 

1
Information Sheet.
Each capitalized term not otherwise defined in this Agreement shall have the meaning set forth for such term on the information
sheet which is attached to this Agreement and is incorporated by reference herein and made a part hereof (the “Information
Sheet”).

 

2
Establishment of the Bank Account.

 

2.1
The Escrow Agent shall establish a non-interest
bearing bank account at a branch of JP Morgan Chase selected by the Escrow Agent, and bearing the designation set forth on the
Information Sheet (heretofore defined as the “Bank Account”). The purpose of the Bank Account is for (a) the
deposit of all subscription monies (checks, or wire transfers) which are received by the Underwriter from prospective purchasers
of the Securities and are delivered by the Underwriter to the Escrow Agent, (b) the holding of amounts of subscription monies
which are collected through the banking system, and (c) the disbursement of collected funds, all as described herein.

  

     

     

    

 

2.2
On or before the date of the initial deposit
in the Bank Account pursuant to this Agreement, the Underwriter shall notify the Escrow Agent in writing of the effective date
of the Registration Statement (the “Effective Date”), and the Escrow Agent shall not be required to accept
any amounts for credit to the Escrow Account or for deposit in the Bank Account prior to its receipt of such notification.

 

2.3
The period of the Offering, which shall be deemed
to commence on the Effective Date, shall consist of the number of calendar days or business days set forth on the Information
Sheet (the “Offering Period”). The Offering Period shall be extended by an Extension Period (as defined in
the Information Sheet) only if the Escrow Agent shall have received joint written notice thereof from the Issuer and the Underwriter
at least five (5) business days prior to the expiration of the Offering Period. The Extension Period, which shall be deemed to
commence on the next calendar day following the expiration of the Offering Period, shall consist of the number of calendar days
or business days set forth on the Information Sheet. The last day of the Offering Period, or the last day of the Extension Period
(if the Escrow Agent has received written notice thereof as hereinabove provided), is referred to herein as the “Termination
Date”. Except as provided in Section 4.3 hereof, after the Termination Date the Underwriter shall not deposit, and the
Escrow Agent shall not accept, any additional amounts representing payments by prospective purchasers.

 

3
Deposits to the Bank Account.

 

3.1
The Underwriter shall promptly deliver to the
Escrow Agent all monies in the form of checks or wire transfers which it receives from prospective purchasers of the Securities
by noon of the next business day following receipt where internal supervisory review is conducted at the same location at which
subscription documents and monies are received. Upon the Escrow Agent’s receipt of such monies, they shall be credited to
the Escrow Account. All checks delivered to the Escrow Agent shall be made payable to “Continental Stock Transfer &
Trust Company AAF Wah Fu Education Group Limited 2018 Escrow”. Any check payable other than to the Escrow Agent as required
hereby shall be returned to the prospective purchaser, or if the Escrow Agent has insufficient information to do so, then to the
Underwriter (together with any Subscription Information, as defined below, or other documents delivered therewith) by noon of
the next business day following receipt of such check by the Escrow Agent, and such check shall be deemed not to have been delivered
to the Escrow Agent pursuant to the terms of this Agreement.

 

3.2
Promptly after receiving subscription monies
as described in Section 3.1, the Escrow Agent shall deposit the same into the Bank Account. Amounts of monies so deposited are
hereinafter referred to as “Escrow Amounts”. The Escrow Agent shall cause the Bank to process all Escrow Amounts
for collection through the banking system. Simultaneously with each deposit to the Escrow Account, the Underwriter (or the Issuer,
if such deposit is made by the Issuer) shall inform the Escrow Agent in writing of the name, address, and the tax identification
number of the purchaser, the amount of Securities subscribed for by such purchase, and the aggregate dollar amount of such subscription
(collectively, the “Subscription Information”).

  

    	 	2	 

     

    

 

3.3
The Escrow Agent shall not be required to accept
for credit to the Escrow Account or for deposit into the Bank Account checks which are not accompanied by the appropriate Subscription
Information, which at minimum shall include the name address, tax identification number and the number of shares/units.
Wire transfers representing payments by prospective purchasers shall not be deemed deposited in the Escrow Account until the Escrow
Agent has received in writing the Subscription Information required with respect to such payments.

 

3.4
The Escrow Agent shall not be required to accept
in the Escrow Account any amounts representing payments by prospective purchasers, whether by check or wire, except during the
Escrow Agent’s regular business hours.

 

3.5
Only those Escrow Amounts, which have been deposited
in the Bank Account and which have cleared the banking system and have been collected by the Escrow Agent, are herein referred
to as the “Fund”.

 

3.6
If the Offering is terminated before the Termination
Date, the Escrow Agent shall (upon joint written instructions from the Issuer and the Underwriter indicating that the Offering
has been terminated) promptly refund any portion of the Fund prior to disbursement of the Fund in accordance with Article 4 hereof
upon instructions in writing signed by both the Issuer and the Underwriter.

 

4
Disbursement from the Bank Account.

 

4.1
If by the close of regular banking hours on the
Termination Date the Escrow Agent has not received joint written instructions from the Issuer and the Underwriter that all conditions
for release of funds have been met for closing of the Offering (including, without limitation, that (a) the amount in the Fund
is at least equal to the Minimum Dollar Amount or the Minimum Securities Amount, as indicated by the Subscription information
submitted to the Escrow Agent, or (b) the Issuer’s ordinary shares have not be approved for listing on the Nasdaq Capital
Market (subject to notice of issuance)), then the Escrow Agent shall promptly refund to each prospective purchaser the amount
of payment received from such purchaser which is then held in the Fund or which thereafter clears the banking system, without
interest thereon or deduction therefrom, by issuing wire transfers for the amounts of such payments and transmitting them to the
purchasers. In such event, the Escrow Agent shall promptly notify the Issuer and the Underwriter of its distribution of the Fund.
An IRS Form W-9 or applicable W-8 is required for disbursements made out of the escrow account for any purpose.

 

4.2
If at any time up to the close of regular banking
hours on the Termination Date, the Escrow Agent determines that the amount in the Fund is at least equal to the Minimum Dollar
Amount and represents the sale of not less than the Minimum Securities Amount, the Escrow Agent shall promptly notify the Issuer
and the Underwriter of such fact in writing. Thereafter, if the Escrow Agent receives joint written instructions from the Issuer
and the Underwriter that all other conditions for release of funds have been met for a closing (it being agreed that more than
one closing may be undertaken) of the Offering (including, without limitation, that the Issuer’s ordinary shares have been
approved for listing on the Nasdaq Capital Market (subject to notice of issuance), the Escrow Agent shall promptly disburse the
Fund in connection with such closing, by wire transfer of immediately available funds from the Bank Account, in accordance with
and at such time as is indicated in such joint written instructions. An IRS Form W-9 or applicable W-8 is required for disbursements
made out of the escrow account for any purpose.

  

    	 	3	 

     

    

 

4.3
Upon disbursement of the total amount of the
Fund pursuant to the terms of this Article 4, the Escrow Agent shall be relieved of all further obligations and released from
all liability under this Agreement. It is expressly agreed and understood that in no event shall the aggregate amount of payments
made by the Escrow Agent exceed the amount of the Fund.

 

5
Rights, Duties and Responsibilities
of Escrow Agent. It is understood and agreed that the duties
of the Escrow Agent are purely ministerial in nature, and that:

 

5.1
The Escrow Agent shall notify the Underwriter,
on a daily basis, of the Escrow Amounts which have been deposited in the Bank Account and of the amounts, constituting the Fund,
which have cleared the banking system and have been collected by the Escrow Agent.

 

5.2
The Escrow Agent shall not be responsible for
or be required to enforce any of the terms or conditions of the underwriting agreement or any other agreement between the Underwriter
and the Issuer nor shall the Escrow Agent be responsible for the performance by the Underwriter or the Issuer of their respective
obligations under this Agreement.

 

5.3
The Escrow Agent shall not be required to accept
from the Underwriter (or the Issuer) any Subscription Information pertaining to prospective purchasers unless such Subscription
Information is accompanied by checks, or wire transfers meeting the requirements of Section 3.1, nor shall the Escrow Agent be
required to keep records of any information with respect to payments deposited by the Underwriter (or the Issuer) except as to
the amount of such payments; however, the Escrow Agent shall notify the Underwriter within a reasonable time of any discrepancy
between the amount set forth in any Subscription Information and the amount delivered to the Escrow Agent therewith. Such amount
need not be accepted for deposit in the Escrow Account until such discrepancy has been resolved.

 

5.4
The Escrow Agent shall be under no duty or responsibility
to enforce collection of any check delivered to it hereunder. The Escrow Agent, within a reasonable time, shall return to the
Underwriter any check received which is dishonored, together with the Subscription Information, if any, which accompanied such
check.

 

5.5
The Escrow Agent shall be entitled to rely upon
the accuracy, act in reliance upon the contents, and assume the genuineness of any notice, instruction, certificate, signature,
instrument or other document which is given to the Escrow Agent pursuant to this Agreement without the necessity of the Escrow
Agent verifying the truth or accuracy thereof. The Escrow Agent shall not be obligated to make any inquiry as to the authority,
capacity, existence or identity or any person purporting to give any such notice or instructions or to execute any such certificate,
instrument or other document.

  

    	 	4	 

     

    

 

5.6
If the Escrow Agent is uncertain as to its duties
or rights hereunder or shall receive instructions with respect to the Bank Account, the Escrow Amounts or the Fund which, in its
sole determination, are in conflict either with other, instructions received by it or with any provision of this Agreement, it
shall be entitled to hold the Escrow Amounts, the Fund, or a portion thereof, in the Bank Account pending the resolution of such
uncertainty to the Escrow Agent’s sole satisfaction, by final judgment of a court or courts of competent jurisdiction or
otherwise; or the Escrow Agent, at its sole option, may deposit the Fund (and any other Escrow Amounts that thereafter become
part of the Fund) with the Clerk of a court of competent jurisdiction in a proceeding to which all parties in interest are joined.
Upon the deposit by the Escrow Agent of the Fund with the Clerk of any court, the Escrow Agent shall be relieved of all further
obligations and released from all liability hereunder.

 

5.7
The Escrow Agent shall not be liable for any
action taken or omitted hereunder, or for the misconduct of any employee, agent or attorney appointed by it, except in the case
of willful misconduct or gross negligence. 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 accordance with the advice of such counsel.

 

5.8
The Escrow Agent shall have no responsibility
at any time to ascertain whether or not any security interest exists in the Escrow Amounts, the Fund or any part thereof or to
file any statement under the Uniform Commercial Code with respect to the Fund or any part thereof.

 

6
Amendment; Resignation.
This Agreement may be altered or amended only with the written consent of the Issuer, the Underwriter and the Escrow Agent.

 

6.1
The Escrow Agent may resign for any reason upon
thirty (30) business days’ written notice to the Issuer and the Underwriter. Should the Escrow Agent resign as herein provided,
it shall not be required to accept any deposit, make any disbursement or otherwise dispose of the Escrow Amounts or the Fund,
but its only duty shall be to hold the Escrow Amounts until they clear the banking system and the Fund for a period of not more
than five (5) business days following the effective date of such resignation, at which time (a) if a successor escrow agent shall
have been appointed and written notice thereof (including the name and address of such successor escrow agent) shall have been
given to the resigning Escrow Agent by the Issuer, the Underwriter and such successor escrow agent, then the resigning Escrow
Agent shall pay over to the successor escrow agent the Fund, less any portion thereof previously paid out in accordance with this
Agreement; or (b) if the resigning Escrow Agent shall not have received written notice signed by the Issuer, the Underwriter and
a successor escrow agent, then the resigning Escrow Agent shall promptly refund the amount in the Fund to each prospective purchaser
without interest thereon or deduction therefrom, and the resigning Escrow Agent shall promptly notify the Issuer and the Underwriter
in writing of its liquidation and distribution of the Fund; whereupon, in either case, the Escrow Agent shall be relieved of all
further obligations and released from all liability under this Agreement. Without limiting the provisions of Section 8 hereof,
the resigning Escrow Agent shall be entitled to be reimbursed by the Issuer and the Underwriter for any actual expenses incurred
in connection with its resignation, transfer of the Fund to a successor escrow agent or distribution of the Fund pursuant to this
Section 6.

  

    	 	5	 

     

    

 

7
Representations and Warranties.
The Issuer and the Underwriter hereby jointly and severally represent and warrant to the Escrow Agent that:

 

7.1
No party other than the parties hereto and the
prospective purchasers have, or shall have, any lien, claim or security interest in the Escrow Amounts or the Fund or any part
thereof.

 

7.2
No financing statement under the Uniform Commercial
Code is on file in any jurisdiction claiming a security interest in or describing (whether specifically or generally) the Escrow
Amounts or the Fund or any part thereof.

 

7.3
The Subscription Information submitted with each
deposit shall, at the time of submission and at the time of disbursement of the Fund, be deemed a representation and warranty
that such deposit represents a bona fide payment by the purchaser described therein for the amount of securities in such described
as Subscription Information.

 

7.4
All of the information contained in the Information
Sheet is, as of the date hereof, and will be, at the time of any disbursement of the Fund, true and correct.

 

7.5
Reasonable controls have been established and
required due diligence performed to comply with “Know Your Customer” regulations, USA Patriot Act, Office of the Foreign
Asset Control (OFAC) regulations and the Bank Secrecy Act.

 

8
Fees and Expenses.
The Escrow Agent shall be entitled to the Escrow Agent Fees set forth on the Information Sheet, payable as and when stated therein.
In addition, the Issuer and the Underwriter jointly and severally agree to reimburse the Escrow Agent for any reasonable expenses
incurred in connection with this Agreement, including, but not limited to, reasonable counsel fees. Upon receipt of the Minimum
Dollar Amount, the Escrow Agent shall have a lien upon the Fund to the extent of its fees for services as Escrow Agent.

 

9
Indemnification and Contribution.

 

9.1
The Issuer and the Underwriter (collectively
referred to as the “Indemnitors”) jointly and severally agree to indemnify the Escrow Agent and its officers,
directors, employees, agents and shareholders (collectively referred to as the “Indemnitees”) against, and
hold them harmless of and from, any and all loss, liability, cost, damage and expense, including without limitation, reasonable
counsel fees, which the Indemnitees may suffer or incur by reason of any action, claim or proceeding brought against the Indemnitees
arising out of or relating in any way to this Agreement or any transaction to which this Agreement relates, unless such action,
claim or proceeding is the result of the willful misconduct or gross negligence of the Indemnitees.

 

9.2
If the indemnification provided for in Section
9.1 is applicable, but for any reason is held to be unavailable, the Indemnitors shall contribute such amounts as are just and
equitable to pay, or to reimburse the Indemnitees for, the aggregate of any and all losses, liabilities, costs, damages and expenses,
including counsel fees, actually incurred by the Indemnitees as a result of or in connection with, and any amount paid in settlement
of, any action, claim or proceeding arising out of or relating in any way to any actions or omissions of the Indemnitors.

  

    	 	6	 

     

    

 

9.3
The provisions of this Article 9 shall survive
any termination of this Agreement, whether by disbursement of the Fund, resignation of the Escrow Agent or otherwise.

 

10
Governing Law and Assignment.
This Agreement shall be construed in accordance with and governed by the laws of the State of New York and shall be binding upon
the parties hereto and their respective successors and assigns; provided, however, that any assignment or transfer by any party
of its rights under this Agreement or with respect to the Escrow Amounts or the Fund shall be void as against the Escrow Agent
unless (a) written notice thereof shall be given to the Escrow Agent; and (b) the Escrow Agent shall have consented in writing
to such assignment or transfer.

 

11
Notices.
All notices required to be given in connection with this Agreement shall be sent by registered or certified mail, return receipt
requested, electronic mail (“e-mail”) with PDF attachment executed by an authorized signer of the Party/Parties to
the e-mail address given below or by hand delivery with receipt acknowledged, or by the Express Mail service offered by the United
States Post Office, and addressed, if to the Issuer or the Underwriter, at their respective addresses set forth on the Information
Sheet, and if to the Escrow Agent, at its address set forth above, to the attention of the Trust Department. The notice shall
be deemed to have been duly given: (a) when received if personally delivered; (b) the day after it is sent, if sent for next day
delivery to a domestic address by a recognized overnight delivery service (e.g., Federal Express); (c) upon receipt, if
sent by certified or registered mail, return receipt requested and (d) upon receipt, if sent by e-mail, with confirmation of.
The commencement of any notice periods set forth in a notice shall begin upon the deemed delivery date of such notice.

 

12
Severability.
If any provision of this Agreement or the application thereof to any person or circumstance shall be determined to be invalid
or unenforceable, the remaining provisions of this 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.

 

13
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.

 

14
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 therewith.

  

[Signature
Page Follows]

  

    	 	7	 

     

    

 

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

 

 

	THE ISSUER	 	THE ESCROW AGENT
	 	 	 
	WAH FU EDUCATION GROUP LIMITED	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 

	By:	 	 	By:	 
	 	Name: 	 	 	 	Name: 	 
	 	Title:	 	 	 	Title:	 

 

	THE UNDERWRITER	 
	 	 
	NETWORK 1 FINANCIAL SECURITIES, INC.	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

  

     

     

    

 

EXHIBIT
A

 

ESCROW
AGREEMENT INFORMATION SHEET

 

		1.	The
Issuer

Name:
Wah Fu Education Group Limited

Address:
Room 505, Building No. 40, NO. 1 Disheng North
Street, Economic and Technological Development Zone, Beijing, China

 

		2.	The
Underwriter

Name:
Network 1 Financial Securities, Inc.

Address:
2 Bridge Avenue, Red Bank, NJ 07701 USA

 

		3.	The
Securities

Description
of the Securities to be offered: Up to 2,000,000 ordinary shares of the Issuer.

 

		4.	Minimum
Securities Amount and Conditions Required for Disbursement of the Escrow Account

Aggregate
dollar amount which must be collected before the Escrow Account may be disbursed to the Issuer: US$5,000,000 (“Minimum Dollar
Amount”)

 

Maximum
Securities Amount and Conditions Required for Disbursement of the Escrow Account US$10,000,000 (“Maximum Dollar Amount”)

 

		5.	Plan
of Distribution of the Securities

Initial
Offering Period: Through                , 2018

Extension
Period, if any: Until                , 2018

 

		6.	Title
of Escrow Account

“Continental
Stock Transfer & Trust Company AAF Wah Fu Education Group Limited 2018 Escrow”

 

		7.	Escrow
Agent Fees and Charges

$5,500
(for up to 50 investing shareholders); $7,500 (for up to 100 shareholders); $9,500 + $12.50/account (over 100 shareholders); $3,500.00
payable at signing of the Escrow Agreement, plus balance at the initial closing. (Note: $250.00 online “view only”
access to the bank account is included). A fee of $500 will be payable for document review services related to each amendment/extension
to the Escrow Agreement. In addition, the Escrow Agent shall be paid a fee of $500.00 for each additional closing beyond the Initial
Offering Period. Should the Escrow Agent continue for more than six months, the Escrow Agent shall receive a fee of $600.00 per
month, or any portion thereof, payable in advance or the first business day of the month.

 

Distribution
charges:

$10.00
per check

$50.00
per wire

$100.00
per check returned (NSF) check

$100.00
lost check replacement fee

$50.00
per DWAC (share movement to DTC)

$10.00
per share certificate

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