Document:

Exhibit 10.4

Employment
Contract –Zhizhong Hu

 

BETWEEN:  Beijing
REIT Technology Development Co., Ltd, a company legally incorporated under the laws of People’s Republic of China, having
a mailing address at Room 1611, No.1 Building, No.208, Second Block, Lize Zhongyuan, Wangjing Xinxing Industrial Area, Chaoyang
District, Beijing City, acting and represented herein by Mr. Li Hengfang, Legal Representative, declaring duly authorized, (hereinafter
called the "COMPANY")

 

AND:   Mr. Zhizhong
Hu,  (hereinafter called the “EMPLOYEE")

 

(COMPANY and EMPLOYEE hereinafter collectively
called "Parties")

 

WHEREAS:

 

COMPANY requires the services of EMPLOYEE as
Chief Technology Officer (CTO);

 

EMPLOYEE agreed to provide COMPANY his full-time
services as CTO;

 

the Parties wish to confirm their agreement
in writing;

 

the Parties have the capacity and quality of
exercise all the rights necessary for the conclusion and implementation of the agreement found in this Contract;

 

THEREFORE THE FOREGOING, THE PARTIES AGREE
AS FOLLOWS:

 

1. Employment

 

EMPLOYEE agrees to assume full-time for COMPANY
(minimum of forty (40) hours per week) the role of CTO during the entire duration of the Contract;

 

2. Term

 

This Contract is for an initial term of 36
months, namely from September 1, 2016 to August 31, 2019, renewable for an additional period of 24 months
unless either party terminates it in writing at least sixty (60) days before the expiration of the initial term;

 

    	 	1	 

     

    

 

3. Responsibilities

EMPLOYEE agrees and undertakes to COMPANY to
the following: The services must be made full time in a professional manner, according to the rules generally accepted by industry.

3.1 Creating overall
technology standards and practices and ensuring adherence.

3.2 Building and managing
the COMPANY’s technology team.

3.3 Managing data systems
implementation and monitoring their effectiveness in meeting business goals.

3.4 Collaborate
with the appropriate departments to assess and recommend technologies in support of COMPANY needs.

3.5 Work with the CEO
and other executives to develop a technical strategy for the COMPANY, involving goal-setting, discussing options and analyzing
risks, ensuring the technical strategy align with the COMPANY’s overall business objectives.

3.6 Keeps an eye out
for new technological developments that can help the COMPANY improve efficiency and customer satisfaction.

4. CONSIDERATION

 

4.1 Service Awards

 

In consideration of the provision of services,
COMPANY to pay EMPLOYEE, as compensation;

 

The gross amount of RMB156000 annually
calculated at the rate of twelve (12) equal monthly installments consecutively of RMB13000 each.

 

4.2 Expenditure incurred

 

COMPANY will reimburse EMPLOYEE all reasonable
expenses incurred in connection with this Contract, upon presentation of appropriate documentation. The date of reimburse EMPLOYEE
shall be the 20th of each month.

 

5. Commitment to confidentiality and nondisclosure

 

EMPLOYEE recognizes that certain disclosures
to be provided by COMPANY have or may have considerable strategic importance, and therefore represent trade secrets for purposes
of this Contract. During the term of this Contract and for a period of 36 months following the end of it, EMPLOYEE is committed
to COMPANY to:

 

    	 	2	 

     

    

 

a) keep confidential and not disclose the information;

 

b) take and implement all appropriate measures
to protect the confidentiality of the information;

 

c) not disclose, transmit, exploit or otherwise
use for its own account or for others, elements of information;

 

6. Exclusivity of service provider

 

During the term of this Contract and for a
period of 24 months following the end of it, EMPLOYEE is committed to COMPANY not render services to or for direct or indirect
competitors of COMPANY.

 

7. Termination of Contract

 

Either party may terminate this Contract at
any time, upon presentation of a sixty (60) days notice given to the other party.

 

8. GENERAL PROVISIONS

 

Unless specific provision to the contrary in
this Contract, the following provisions apply.

 

8.1 Force Majeure

 

Neither party can be considered in default
under this Contract if the performance of its obligations in whole or in part is delayed or prevented by following a force majeure
situation. Force majeure is an external event, unforeseeable, irresistible and it absolutely impossible to fulfill an obligation.

 

8.2 Severability

 

The possible illegality or invalidity of an
article, a paragraph or provision (or part of an article, a paragraph or provision) does not in any way affect the legality of
other items, paragraphs or provisions of this Contract, nor the rest of this article, this paragraph or provision unless a contrary
intention is evident in the text.

 

    	 	3	 

     

    

 

8.3 Notices

 

Any notice to a party is deemed to have been
validly given if in writing and sent by registered or certified mail, by bailiff or by courier to such party at the address listed
at the beginning of this Contract or any other address that the party may indicate a similar notice to another party. A copy of
any notice sent by mail must be sent by one mode of delivery mentioned above.

 

8.4 No Waiver

 

The inertia, neglect or delay by any party
to exercise any right or remedy under this Contract shall in no way be construed as a waiver of such right or remedy.

 

8.5 Contract Amendment

 

This Contract may be amended only by a writing
signed by all Parties.

 

9. Applicable Laws and Election of domicile

 

This Contract is subject to the laws of the
People’s Republic of China. 

The Parties agree to elect domicile in the
judicial district of Beijing City, China, and chose it as the appropriate district to hear any claim arising from the interpretation,
application, and performance, the entry into force, validity and effect of this Contract.

 

10. Currencies

 

All sums of money under this Contract refer
to Chinese currency.

 

11. Effectiveness and Copies

 

This Contract will come into force upon signature
and seal by both Parities. This Contract is made in duplicate and both are of equally binding force. The COMPANY and the EMPLOYEE
each holds one copy.

 

IN THE CITY OF BEIJING, CHINA, 

 

Beijing REIT Technology Development Co.,
Ltd 

(Seal) 

   

/s/ Zhizhong Hu 

(Signature)

 

4Exhibit 10.9

 

INDEMNIFICATION
ESCROW AGREEMENT

 

This
INDEMNIFICATION ESCROW AGREEMENT (this “Agreement”) dated as of [●], 2017 is entered into by and among
ReTo Eco-Solutions, Inc. (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 up to 3,220,000 common shares of the Company,
par value $0.001 (including up to 420,000 common shares that the underwriters in the offering have the option to purchase) (the
“Shares”), at an offering price of $[●] per share;

 

WHEREAS,
the Company and Underwriter expect that the Offering will close on or before the close of business on [●], 2017 (the “Closing
Date”);

 

WHEREAS,
upon the closing of the Offering, the Company has agreed to deposit an aggregate amount of Five Hundred Thousand Dollars ($500,000)(the
“Escrowed Funds”) from the proceeds of the Offering to be received by the Company with the Escrow Agent in
a non-interest bearing escrow account, to be held, invested and disbursed by the Escrow Agent pursuant to the terms and conditions
of this Agreement;

 

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

 

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 a non-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. In no event shall
    the aggregate amount of Escrowed Funds delivered to the Escrow Account be less than Five Hundred Thousand Dollars ($500,000).

 

	 	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 $500,000 of the indemnification obligations
of the Company, with respect to the Escrowed Funds, pursuant to Section 2 of the Underwriting Agreement dated [●], 2017
by and between the Company and the Underwriter, for a period of two (2) years from the closing of the Offering. Disbursement of
such Escrowed Funds and Investment Gain Funds shall be determined by an independent third-party trustee, to be chosen by mutual
consent of the Company and the Underwriter.

 

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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 within two (2) years 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 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
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. Upon
written instruction of the Company, with a copy to the Underwriter the Escrow Agent may invest the Escrowed Funds during the
term of the Agreement 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 20% of the Escrowed Funds may be invested in one issuer; (3) no more
than 50% 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 last 30 days.

 

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 ($500,000) 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
the decrease of less than 81%) add funds to the Escrow Account to maintain the Minimum Equity.

 

iii.
Upon the account reaching Minimum Equity, the Company may not open any additional positions until the account is above the
Minimum Equity.

 

iv.
As soon as possible after the Closing, the Escrow Agent shall establish a brokerage account in the Company’s name with a
FINRA registered broker-dealer 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(c)(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 Section
3(c)(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.

 

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v.
All income derived from the investments pursuant to this Section 3(c) in excess of the Escrowed Funds (“Investment Gain
Funds”) shall be disbursed to the Company provided in the manner of Section 3(a) of this Agreement, 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 March 31, June 30, September 30 or December 31 of any year during
the term of this Agreement prior to the two year period set forth in Section 3(a).

 

	 	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.

 

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.

 

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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, 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 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, except for claims relating to gross negligence or reckless misconduct by
the Escrow Agent or breach of this Agreement by the Escrow Agent, or the monies or other property held by it hereunder. Promptly,
but no later than ten (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 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 as it shall, from time to time, reasonably deem sufficient to indemnify itself for any such
loss or expense.

 

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 by the Company. The indemnification
    provisions subject to this Agreement are set forth in Section 6 of the Underwriting Agreement dated [●], 2017 by and
    between the Company and the Underwriter, which Section 6 shall be deemed to be a part of this Agreement.

 

    	 	4	 

     

    

 

	 	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 fifteen (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(f) and to retain
pursuant to Section 7) upon presentation of the document appointing the new escrow agent and its acceptance thereof. If no new
agent is so appointed within the Notice Period, the Escrow Agent shall return the Escrowed Funds and Investment Gain Funds to
the Company without interest or 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 unless
directed to be made by check by the Underwriter and/or Company.

 

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 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.

 

	 	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.

 

    	 	5	 

     

    

 

If
to the Company, to: 

 

Newater
Technology, Inc.

c/o
Beijing REIT Technology Development Co., Ltd.

X-702,
60 Anli Road, Chaoyang District, Beijing

People’s
Republic of China 100101

Email:
lhf@reit.cc

 

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

 

Haneberg
Hurlbert PLC

1111
East Main St., Suite 2010

Richmond,
VA 23219

Attention:
Bradley A. Haneberg, Esq.; Matthew B. Chmiel, Esq.

Email:
brad@hbhblaw.com; matt@hbhblaw.com

 

If
to the Underwriter, to:

 

ViewTrade
Securities, Inc.

Attn:
Doug K. Aguililla

7280
West Palmetto Park Road, Suite 310

Boca
Raton, FL 33433

Email:
dougagui@viewtrade.com

 

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

 

K&L
Gates LLP

Southeast
Financial Center, Suite 3900

200
South Biscayne Boulevard

Miami,
FL 33131

Attention:
Clayton E. Parker, Esq.

Email:
clayton.parker@klgates.com

 

If
to the Escrow Agent, to: 

 

Pearlman
Law Group LLP

200
South Andrews Avenue, Suite 901

Fort
Lauderdale, FL 33301

Attn:
Charles Pearlman

Email:
Charlie@pslawgroup.net

 

    	 	6	 

     

    

 

	 	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.

 

[THE
REMAINDER OF THE PAGE IS INTENTIONALLY LEFT BLANK]

 

    	 	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:

 

RETO
ECO-SOLUTIONS, INC.

  

	By: 	 	 
	Name: 	Hengfang Li	 
	Title: 	Chief Executive Officer	 

 

UNDERWRITER:

 

VIEWTRADE
SECURITIES, INC.

  

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

 

Indemnification
Escrow Agreement

 

    	 	8	 

     

    

 

Schedule
A

  

ACCOUNT
NAME:                                           TRUST
ACCOUNT

ACCOUNT
NO.:

ABA
ROUTING NO.:

SWIFT
CODE: 

BANK:

REFERENCE:
ATTN:

 

TO
BE WIRED IN U.S. DOLLARS

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