Exhibit 10.7


 


SUBSCRIPTION AGREEMENT


 


This Subscription Agreement (this “Agreement”)
has been executed by the subscriber set forth on the signature page hereof (the “Subscriber”) in connection
with the private placement offering (the “Offering”) by Akoustis Technologies, Inc., a Delaware
corporation (the “Company”) of up to 2,000,000 shares (the “Shares”) of the Company’s
common stock, par value $0.001 per share (“Common Stock”), at a purchase price of $5.00 per Share (the
“Purchase Price”). This subscription is being submitted to you in accordance with and subject to the
terms and conditions described in this Agreement.


 


The Shares being subscribed for pursuant to
this Agreement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”).
The Offering is being made on a reasonable best efforts basis to “accredited investors,” as defined in Regulation D
under the Securities Act, and may be made also to unaccredited investors in compliance with Rule 506(b) of Regulation D, as determined
by the Company’s Board of Directors.


 


The undersigned acknowledges receipt of a copy
of the Registration Rights Agreement, substantially in the form of Exhibit A hereto (the “Registration Rights Agreement”).


 


Each closing of the Offering (a “Closing,”
and the date on which such Closing occurs hereinafter referred to as the “Closing Date”) shall take place
at the offices of the Company.


 


The Company may conduct one or more Closings
for the sale of the Shares until the termination of the Offering.


 


Any term sheet, disclosure schedule or other
information document, delivered to the Subscriber prior to Subscriber’s execution of this Agreement, and any such document
delivered to the Subscriber after Subscriber’s execution of this Agreement and prior to the Closing of the Subscriber’s
subscription hereunder are collectively referred to as the “Disclosure Materials.”


 


		1.	Subscription. The undersigned Subscriber hereby subscribes to purchase the number of Shares
set forth on the Omnibus Signature Page attached hereto, for the aggregate Purchase Price as set forth on such Omnibus Signature
Page, subject to the terms and conditions of this Agreement and on the basis of the representations, warranties, covenants and
agreements contained herein.



 


		2.	Subscription Procedure. To complete a subscription for the Shares, the Subscriber must fully
comply with the subscription procedure provided in paragraphs a. through c. of this Section on or before the Closing Date.



 


		a.	Subscription Documents. On or before the Closing Date, the Subscriber shall review, complete
and execute the Omnibus Signature Page to this Agreement and the Registration Rights Agreement, the Investor Profile, Anti-Money
Laundering Form and Investor Certification, attached hereto following the Omnibus Signature Page (collectively, the “Subscription
Documents”), and deliver the Subscription Documents to the Company at the address set forth under the caption “How
to subscribe for Shares in the private offering of Akoustis Technologies, Inc.” below. Executed documents may be delivered
to the Company by facsimile or .pdf sent by electronic mail (e-mail), if the Subscriber delivers the original copies of the documents
to the Company as soon as practicable thereafter.



 






    	 	 	 



     


    

 


		b.	Purchase Price. Simultaneously with the delivery of the Subscription Documents to the Company
as provided herein, and in any event on or prior to the Closing Date, the Subscriber shall deliver to the Company the full Purchase
Price by certified or other bank check or by wire transfer of immediately available funds, pursuant to the instructions set forth
under the caption “How to subscribe for Shares in the private offering of Akoustis Technologies, Inc.” below.
Such funds will be held for the Purchaser’s benefit and will be returned promptly, without interest or offset, if this Subscription
Agreement is not accepted by the Company or the Offering is terminated pursuant to its terms by the Company prior to the Closing
as defined herein.



 


		c.	Company Discretion. The Subscriber understands and agrees that the Company in its sole discretion
reserves the right to accept or reject this or any other subscription for Shares, in whole or in part, notwithstanding prior receipt
by the Subscriber of notice of acceptance of this subscription. The Company shall have no obligation hereunder until the Company
shall execute and deliver to the Subscriber an executed copy of this Agreement. If this subscription is rejected in whole, or the
Offering is terminated, all funds received from the Subscriber will be returned without interest or offset, and this Agreement
shall thereafter be of no further force or effect. If this subscription is rejected in part, the funds for the rejected portion
of this subscription will be returned without interest or offset, and this Agreement will continue in full force and effect to
the extent this subscription was accepted.



 


		3.	Placement Agents or Brokers. Except as set forth on Schedule 3, the Company has not engaged
any placement agents or brokers, or agreed to compensate any placement agents or brokers. The Company may engage one or more placement
agents or brokers in connection with the Offering. Placement agents or brokers, if any, will be engaged on a reasonable best efforts
basis. In the event the Company engages any placement agents or brokers not currently set forth on Schedule 3, the Company
may pay such placement agent(s) or broker(s): (i)a total of cash commission not to exceed 10% of the gross funds raised by such
placement agents(s) or broker(s); and (ii) warrants to purchase a number of shares of Common Stock not to exceed 10% of the number
of shares sold in the offering to investors introduced to the Company by such placement agent(s) or broker(s). In addition, the
Company may pay a lead placement agent, if any, additional compensation consisting of (x) cash commissions not to exceed 1% of
gross funds raised in the Offering by all the placement agents for which the lead placement agent serves as lead and (y) warrants
not to exceed 1% of gross funds raised in the Offering by all the placement agents for which the lead placement agent serves as
lead.



 


		4.	Representations and Warranties of the Company. The Company hereby represents and warrants
to the Subscriber, as of the Closing Date (unless otherwise specified), the following:



 






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		a.	Organization and Qualification. The Company and each of its subsidiaries is a corporation
or other business entity duly organized and validly existing in good standing under the laws of the jurisdiction of its formation,
and has the requisite corporate power to own its properties and to carry on its business as now being conducted. The Company and
each of its subsidiaries is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction
in which the nature of the business conducted by it makes such qualification necessary, except to the extent that the failure to
be so qualified or be in good standing would not have a material adverse effect on the assets, business, condition (financial or
otherwise), results of operations or future prospects of the Company and its subsidiaries taken as a whole (a “Material
Adverse Effect”). Each subsidiary of the Company is identified on Schedule 4a attached hereto.



 


		b.	Authorization, Enforcement, Compliance with Other Instruments. (i) The Company has the requisite
corporate power and authority to enter into and perform its obligations under this Agreement, the Registration Rights Agreement
and each of the other agreements and documents that are exhibits hereto or thereto or are contemplated hereby or thereby or necessary
or desirable to effect the transactions contemplated hereby or thereby (the “Transaction Documents”)
and to issue the Shares, in accordance with the terms hereof and thereof, (ii) the execution and delivery by the Company of each
of the Transaction Documents and the consummation by it of the transactions contemplated hereby and thereby, including, without
limitation, the issuance of the Shares, have been, or will be at the time of execution of such Transaction Document, duly authorized
by the Company’s Board of Directors, and no further consent or authorization is, or will be at the time of execution of such
Transaction Document, required by the Company, its respective Board of Directors or its stockholders, (iii) each of the Transaction
Documents will be duly executed and delivered by the Company, (iv) the Transaction Documents when executed will constitute the
valid and binding obligations of the Company enforceable against the Company in accordance with their terms, except as such enforceability
may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or
similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies.



 


		c.	Capitalization. The authorized capital stock of the Company consists of 45,,000,000 shares
of Common Stock and 5,000,000 shares of preferred stock. As of the date of this Agreement, the Company has 16,158,981 shares of
Common Stock and no preferred stock issued and outstanding. All of the outstanding shares of Common Stock and of the stock of each
of the Company’s subsidiaries have been duly authorized, validly issued and are fully paid and nonassessable. Except as set
forth on Schedule 4c attached hereto: (i) no shares of capital stock of the Company or any of its subsidiaries are
(and the Shares will not be) subject to preemptive rights (other than pursuant to Section 18 of this agreement) or any other similar
rights or any liens or encumbrances suffered or permitted by the Company; (ii) there are no outstanding options, warrants, scrip,
rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into,
any shares of capital stock of the Company or any of its subsidiaries, or contracts, commitments, understandings or arrangements
by which the Company or any of its subsidiaries is or may become bound to issue additional shares of capital stock of the Company
or any of its subsidiaries, (iii) there are no outstanding debt securities of the Company or its subsidiaries, (iv) there are no
agreements or arrangements under which the Company or any of its subsidiaries is obligated to register the sale of any of their
securities under the Securities Act (other than pursuant to the Registration Rights Agreement), (v) there are no registration statements
that have been filed but are not yet effective relating to securities of the Company, or any outstanding comment letters from the
SEC or any other regulatory agency; (vi) there are no securities or instruments containing anti-dilution or similar provisions,
including the right to adjust the exercise, exchange or reset price under such securities, that will be triggered by the issuance
of the Shares as described in this Agreement; and (vii) no co-sale rights, rights of first refusal or other similar rights exist
with respect to the Shares or the issuance and sale thereof. Upon request, the Company will make available to the Subscriber true
and correct copies of the Company’s Certificate of Incorporation, as in effect on the date hereof (the “Charter”),
and the Company’s By-laws, as in effect on the date hereof (the “By-laws”), and the terms of all
securities exercisable for Common Stock and the material rights of the holders thereof in respect thereto.



 






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		d.	Issuance of Shares. The Shares are duly authorized and, upon issuance in accordance with
the terms hereof, shall be duly issued, fully paid and nonassessable, and are free from all taxes, liens and charges with respect
to the issue thereof.



 


		e.	No Conflicts. The execution, delivery and performance of each of the Transaction Documents
by the Company, and the consummation by the Company of the transactions contemplated hereby and thereby will not (i) result in
a violation of the Charter or the By-laws (or equivalent constitutive document) of the Company or any of its subsidiaries or (ii)
violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event which with notice or
lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation
of, any agreement, indenture or instrument to which the Company or any subsidiary is a party, except for those which would not
reasonably be expected to have a Material Adverse Effect, or (iii) result in a material violation of any law, rule, regulation,
order, judgment or decree (including U.S. federal and state securities laws and regulations) applicable to the Company or any subsidiary
or by which any property or asset of the Company or any subsidiary is bound or affected. Neither the Company nor any subsidiary
is in violation of any term of or in default under its Charter or By-laws. Except for those violations or defaults which would
not reasonably be expected to have a Material Adverse Effect, neither the Company nor any subsidiary is in violation of any term
of or in default under any material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order
or any statute, rule or regulation applicable to the Company or any subsidiary. The business of the Company and its subsidiaries
is not being conducted, and shall not be conducted in violation of any law, ordinance, or regulation of any governmental entity,
except for any violation which would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect.
Except as specifically contemplated by this Agreement and as required under the Securities Act and any applicable state securities
laws, neither the Company nor any of its subsidiaries is required to obtain any consent, authorization or order of, or make any
filing or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations
under or contemplated by this Agreement or the other Transaction Documents in accordance with the terms hereof or thereof. Except
as set forth on Schedule 3 or Schedule 4e, neither the execution and delivery by the Company of the
Transaction Documents, nor the consummation by the Company of the transactions contemplated hereby or thereby, will require any
notice, consent or waiver under any contract or instrument to which the Company or any subsidiary is a party or by which the Company
or any subsidiary is bound or to which any of their assets is subject. All consents, authorizations, orders, filings and registrations
which the Company or any of its subsidiaries is required to obtain pursuant to the preceding two sentences have been or will be
obtained or effected on or prior to the Closing. The Company is unaware of any facts or circumstance, which might give rise to
any of the foregoing.



 






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		f.	Absence of Litigation. Except as set forth on Schedule 4f, there is no action,
suit, claim, inquiry, notice of violation, proceeding or investigation before or by any court, public board, governmental or administrative
agency, self-regulatory organization or body now pending or, to the knowledge of the Company, threatened, against or affecting
the Company or any of its subsidiaries.



 


		g.	Acknowledgment Regarding Subscriber’s Purchase of the Shares. The Company acknowledges
and agrees that each Subscriber is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction
Documents and the transactions contemplated hereby and thereby.



 


		h.	No General Solicitation. Neither the Company, nor any of its affiliates, nor, to the knowledge
of the Company, any person acting on its or their behalf, has engaged in any form of general solicitation or general advertising
(within the meaning of Regulation D) in connection with the offer or sale of the Shares.



 


		i.	No Integrated Offering. Neither the Company, nor any of its affiliates, nor to the knowledge
of the Company, any person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security
or solicited any offers to buy any security, under circumstances that would require registration of the Shares under the Securities
Act or cause this offering of the Shares to be integrated with prior offerings by the Company for purposes of the Securities Act.



 


		j.	Employee Relations. Neither the Company nor any of its subsidiaries is involved in any labor
dispute nor, to the knowledge of the Company, is any such dispute threatened. Neither the Company nor any subsidiary is party to
any collective bargaining agreement. The Company’s and/or its subsidiaries’ employees are not members of any union,
and the Company believes that its and its subsidiaries’ relationship with their respective employees is good.



 






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		k.	Intellectual Property Rights. Except as set forth on Schedule 4k, the Company
and its subsidiaries own or possess sufficient rights to all patents, trademarks, domain names (whether or not registered) and
any patentable improvements or copyrightable derivative works thereof, websites and intellectual property rights relating thereto,
service marks, trade names, copyrights, licenses and authorizations, and all rights with respect to the foregoing, which are necessary
for the conduct of its business as now conducted without any conflict with the rights of others except for such conflicts that
would not result in a Material Adverse Effect. Neither the Company nor any subsidiary has received any notice of infringement of,
or conflict with, the asserted rights of others with respect to any intellectual property that it utilizes.



 


		l.	Environmental Laws.



 


		(i)	The Company and each subsidiary has complied with all applicable Environmental Laws (as defined
below), except for violations of Environmental Laws that, individually or in the aggregate, have not had and would not reasonably
be expected to have a Material Adverse Effect. There is no pending or, to the knowledge of the Company, threatened civil or criminal
litigation, written notice of violation, formal administrative proceeding, or investigation, inquiry or information request, relating
to any Environmental Law involving the Company or any subsidiary, except for litigation, notices of violations, formal administrative
proceedings or investigations, inquiries or information requests that, individually or in the aggregate, have not had and would
not reasonably be expected to have a Material Adverse Effect. For purposes of this Agreement, “Environmental Law” means
any national, state, provincial or local law, statute, rule or regulation or the common law relating to the environment or occupational
health and safety, including without limitation any statute, regulation, administrative decision or order pertaining to (i) treatment,
storage, disposal, generation and transportation of industrial, toxic or hazardous materials or substances or solid or hazardous
waste; (ii) air, water and noise pollution; (iii) groundwater and soil contamination; (iv) the release or threatened release into
the environment of industrial, toxic or hazardous materials or substances, or solid or hazardous waste, including without limitation
emissions, discharges, injections, spills, escapes or dumping of pollutants, contaminants or chemicals; (v) the protection of wild
life, marine life and wetlands, including without limitation all endangered and threatened species; (vi) storage tanks, vessels,
containers, abandoned or discarded barrels, and other closed receptacles; (vii) health and safety of employees and other persons;
and (viii) manufacturing, processing, using, distributing, treating, storing, disposing, transporting or handling of materials
regulated under any law as pollutants, contaminants, toxic or hazardous materials or substances or oil or petroleum products or
solid or hazardous waste. As used above, the terms “release” and “environment” shall have the meaning set
forth in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.



 






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		(ii)	The Company and its subsidiaries (i) have received all permits, licenses or other approvals required
of them under applicable Environmental Laws to conduct their respective businesses except to the extent that the failure to have
such permits, licenses or other approvals would not have a Material Adverse Effect and (ii) are in compliance, in all material
respects, with all terms and conditions of any such permit, license or approval.



 


		m.	Permits; FCC Compliance. The Company and its subsidiaries have all authorizations, approvals,
clearances, licenses, permits, certificates or exemptions (including manufacturing approvals and authorizations, pricing and reimbursement
approvals, labeling approvals, registration notifications or their foreign equivalent) issued by any regulatory authority or governmental
agency (collectively, “Permits”) required to conduct their respective businesses as currently conducted
except to the extent that the failure to have such Permits would not have a Material Adverse Effect. The conduct of business by
the Company complies, and at all times has substantially complied, in all material respects with the Telecommunications Act of
1996 and similar federal, state and foreign laws applicable to the evaluation, testing, manufacturing, distribution, advertising
and marketing of each of the Company’s products, in whatever stage of development or commercialization except to the extent
that the failure to so comply would not have a Material Adverse Effect. To the knowledge of the Company, as of the date hereof,
neither the Federal Communications Commission (the “FCC”) nor any comparable regulatory authority or
governmental agency is considering limiting, suspending or revoking any such Permit or changing the marketing classification or
labeling of the products of the Company or any of its subsidiaries. To the knowledge of the Company, there is no false or misleading
information or material omission in any product application or other submission by the Company or any of its subsidiaries to the
FCC or any comparable regulatory authority or governmental agency. The Company or its subsidiaries have fulfilled and performed
in all material respects their obligations under each Permit, and, as of the date hereof, to the knowledge of the Company, no event
has occurred or condition or state of facts exists which would constitute a breach or default or would cause revocation or termination
of any such Permit except to the extent that such breach, default, revocation or termination would not have a Material Adverse
Effect. To the knowledge of the Company, any third party that is a manufacturer or contractor for the Company or any of its subsidiaries
is in compliance in all material respects with all Permits insofar as they pertain to the manufacture of product components or
products for the Company. The Company and its subsidiaries have not received any notice of adverse finding, warning letter, notice
of violation, notice of action or any other notice from the FCC or other governmental agency alleging or asserting noncompliance
with any applicable laws or Permits. The Company and its subsidiaries have made all notifications, submissions and reports required
by applicable federal, state and foreign laws, except to the extent that the failure to make such notifications, submission or
reports would not have a Material Adverse Effect.



 






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		n.	Title. Neither the Company nor any of its subsidiaries owns any real property. Except as
set forth on Schedule 4n, each of the Company and its subsidiaries has good and marketable title to all of its personal
property and assets, free and clear of any material restriction, mortgage, deed of trust, pledge, lien, security interest or other
charge, claim or encumbrance which would have a Material Adverse Effect. Except as set forth on Schedule 4n, with
respect to properties and assets it leases, each of the Company and its subsidiaries is in material compliance with such leases
and holds a valid leasehold interest free of any liens, claims or encumbrances which would have a Material Adverse Effect.



 


		o.	No Material Breaches. Neither the Company nor any subsidiary is in breach of any contract
or agreement which breach has had, or could reasonably be expected to have, a Material Adverse Effect.



 


		p.	Certain Transactions. Except for arm’s length transactions pursuant to which the Company
or any subsidiary makes payments in the ordinary course of business upon terms no less favorable than it could obtain from third
parties, none of the officers, directors, or employees of the Company or any subsidiary is presently a party to any transaction
with the Company or any subsidiary (other than for services as employees, officers and directors), including any contract, agreement
or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or
from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any
corporation, partnership, trust or other entity in which any officer, director, or any such employee has a substantial interest
or is an officer, director, trustee or partner.



 


		q.	Rights of First Refusal. Except as set forth on Schedule 4q, the Company is
not obligated to offer the securities offered hereunder on a right of first refusal basis or otherwise to any third parties including,
but not limited to, current or former stockholders of the Company, underwriters, brokers, agents or other third parties.



 


		r.	Insurance. The Company has insurance policies of the type and in amounts customarily carried
by organizations conducting businesses or owning assets similar to those of the Company and its subsidiaries. There is no material
claim pending under any such policy as to which coverage has been questioned, denied or disputed by the underwriter of such policy.



 


		s.	SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by it with the SEC under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
including pursuant to Section 13(a) or 15(d) thereof (or that it would be required to be filed by it if it were subject to the
reporting requirements of such sections), for the two years preceding the date hereof (or such shorter period since the Company
was first required by law or regulation to file such material).



 






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		t.	Brokers’ Fees. Except as set forth on Schedule 4t, the Company does
not have any liability or obligation to pay any fees or commissions to any broker, finder or agent with respect to the transactions
contemplated by this Agreement, except for the payment of fees to any Placement Agents or brokers that have been or may be retained
by the Company as described in Section 3 above.



 


		u.	Disclosure Materials. The Disclosure Materials taken as a whole do not contain an untrue
statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading.



 


		v.	Reliance. The Company acknowledges that the Subscriber is relying on the representations
and warranties made by the Company hereunder and that such representations and warranties are a material inducement to the Subscriber
purchasing the Shares. The Company further acknowledges that without such representations and warranties of the Company made hereunder,
the Subscribers would not enter into this Agreement.



 


		5.	Representations, Warranties and Agreements of the Subscriber. The Subscriber represents
and warrants to, and agrees with, the Company the following:



 


		a.	The Subscriber, either alone or with the Subscriber’s purchaser representative(s), has the
knowledge and experience in financial and business matters necessary to evaluate the merits and risks of its prospective investment
in the Company, and has carefully reviewed and understands the risks of, and other considerations relating to, the purchase of
Shares and the tax consequences of the investment, and has the ability to bear the economic risks of the investment. The Subscriber
can afford the loss of its entire investment.



 


		b.	The Subscriber is acquiring the Shares for investment for its own account and not with the view
to, or for resale in connection with, any distribution thereof. The Subscriber understands and acknowledges that the Shares have
not been registered under the Securities Act or any state securities laws, by reason of a specific exemption from the registration
provisions of the Securities Act and applicable state securities laws, which depends upon, among other things, the bona fide nature
of the investment intent as expressed herein. The Subscriber further represents that it does not have any contract, undertaking,
agreement or arrangement with any person to sell, transfer or grant participation to any third person with respect to any of the
Shares. The Subscriber understands and acknowledges that the offering of the Shares pursuant to this Agreement will not be registered
under the Securities Act nor under the state securities laws on the ground that the sale provided for in this Agreement and the
issuance of securities hereunder is exempt from the registration requirements of the Securities Act and any applicable state securities
laws.



 






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		c.	The Subscriber acknowledges that the Subscriber has completed the attached Investor Certification
and that the information contained therein is complete and accurate as of the date thereof and is hereby affirmed as of the date
hereof. Any information that has been furnished or that will be furnished by the undersigned to evidence its status as an accredited
or unaccredited investor is accurate and complete, and does not contain any misrepresentation or omission. The Subscriber shall
submit to the Company such further assurances of such status as may be reasonably requested by the Company. The Subscriber resides
in the jurisdiction set forth on the Subscriber’s Omnibus Signature Page affixed hereto.



 


		d.	The Subscriber (i) if a natural person, represents that he or she is the greater of (A) 21 years
of age or (B) the age of legal majority in his or her jurisdiction of residence, and has full power and authority to execute and
deliver this Agreement and all other related agreements or certificates and to carry out the provisions hereof and thereof; (ii)
if a corporation, partnership, or limited liability company or partnership, or association, joint stock company, trust, unincorporated
organization or other entity, represents that such entity was not formed for the specific purpose of acquiring the Shares, such
entity is duly organized, validly existing and in good standing under the laws of the state or jurisdiction of its organization,
the consummation of the transactions contemplated hereby is authorized by, and will not result in a violation of state law or its
charter or other organizational documents, such entity has full power and authority to execute and deliver this Agreement and all
other related agreements or certificates and to carry out the provisions hereof and thereof and to purchase and hold the Shares,
the execution and delivery of this Agreement has been duly authorized by all necessary action, this Agreement has been duly executed
and delivered on behalf of such entity and is a legal, valid and binding obligation of such entity; or (iii) if executing this
Agreement in a representative or fiduciary capacity, represents that it has full power and authority to execute and deliver this
Agreement in such capacity and on behalf of the subscribing individual, ward, partnership, trust, estate, corporation, or limited
liability company or partnership, or other entity for whom the Subscriber is executing this Agreement, and such individual, partnership,
ward, trust, estate, corporation, or limited liability company or partnership, or other entity has full right and power to perform
pursuant to this Agreement and make an investment in the Company, and represents that this Agreement constitutes a legal, valid
and binding obligation of such entity. The execution and delivery of this Agreement will not violate or be in conflict with any
order, judgment, injunction, agreement or controlling document to which the Subscriber is a party or by which it is bound.



 






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		e.	The Subscriber understands that the Shares are being offered and sold to it in reliance on specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
in part upon the truth and accuracy of, and such Subscriber’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of such Subscriber set forth herein in order to determine the availability of such exemptions
and the eligibility of such Subscriber to acquire such securities. The Subscriber further acknowledges and understands that the
Company is relying on the representations and warranties made by the Subscriber hereunder and that such representations and warranties
are a material inducement to the Company to sell the Shares to the Subscriber. The Subscriber further acknowledges that without
such representations and warranties of the Subscriber made hereunder, the Company would not enter into this Agreement with the
Subscriber.



 


		f.	The Subscriber understands that no public market now exists, and there may never be a public market
for, the Shares, that only a limited public market for the Company’s Common Stock exists and that there can be no assurance
that an active public market for the Common Stock will exist or continue to exist.



 


		g.	The Subscriber has received and reviewed information about the Company, including the Disclosure
Materials, and has had an opportunity to discuss the Company’s business, management and financial affairs with the Company’s
management. The Subscriber has had an opportunity to ask questions and receive answers concerning the terms and conditions of the
Offering and to obtain any additional information necessary to verify the accuracy of the Disclosure Materials. The Subscriber
understands that such discussions, as well as any Disclosure Materials provided by the Company, were intended to describe the aspects
of the Company’s business and prospects which the Company believes to be material, but were not necessarily a thorough or
exhaustive description, and except as expressly set forth in this Agreement, the Company makes no representation or warranty with
respect to the completeness of such information and makes no representation or warranty of any kind with respect to any information
provided by any entity other than the Company. Some of such information may include projections as to the future performance of
the Company, which projections may not be realized, may be based on assumptions which may not be correct and may be subject to
numerous factors beyond the Company’s control. Additionally, the Subscriber understands and represents that it is purchasing
the Shares notwithstanding the fact that the Company may disclose in the future certain material information the Subscriber has
not received, including (without limitation) financial statements of the Company for the current or prior fiscal periods, and any
subsequent period financial statements that will be filed with the SEC, that it is not relying on any such information in connection
with its purchase of the Shares and that it waives any right of action with respect to the nondisclosure to it prior to its purchase
of the Shares of any such information. Each Subscriber has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to its acquisition of the Shares.



 






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		h.	The Subscriber acknowledges that none of the Company or any Placement Agents or brokers that may
be retained by the Company in connection with the Offering is acting as a financial advisor or fiduciary of the Subscriber (or
in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby, and no
investment advice has been given by the Company or any Placement Agents or brokers that may be retained by the Company or any of
its representatives or agents in connection with the Transaction Documents and the transactions contemplated hereby and thereby.
The Subscriber further represents to the Company that the Subscriber’s decision to enter into the Transaction Documents has
been based solely on the independent evaluation by the Subscriber and its representatives.



 


		i.	As of the Closing, all actions on the part of Subscriber, and its officers, directors and partners,
if applicable, necessary for the authorization, execution and delivery of this Agreement and the Registration Rights Agreement
and the performance of all obligations of the Subscriber hereunder and thereunder shall have been taken, and this Agreement and
the Registration Rights Agreement, assuming due execution by the parties hereto and thereto, constitute valid and legally binding
obligations of the Subscriber, enforceable in accordance with their respective terms, subject to: (i) judicial principles limiting
the availability of specific performance, injunctive relief, and other equitable remedies and (ii) bankruptcy, insolvency, reorganization,
moratorium or other similar laws now or hereafter in effect generally relating to or affecting creditors’ rights.



 


		j.	Subscriber represents that neither it nor, to its knowledge, any person or entity controlling,
controlled by or under common control with it, nor any person having a beneficial interest in it, nor any person on whose behalf
the Subscriber is acting: (i) is a person listed in the Annex to Executive Order No. 13224 (2001) issued by the President of the
United States (Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support
Terrorism); (ii) is named on the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign
Assets Control; (iii) is a non-U.S. shell bank or is providing banking services indirectly to a non-U.S. shell bank; (iv) is a
senior non-U.S. political figure or an immediate family member or close associate of such figure; or (v) is otherwise prohibited
from investing in the Company pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations,
rules or orders (categories (i) through (v), each a “Prohibited Subscriber”). The Subscriber agrees to
provide the Company, promptly upon request, all information that the Company reasonably deems necessary or appropriate to comply
with applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders. The Subscriber
consents to the disclosure to U.S. regulators and law enforcement authorities by the Company and its affiliates and agents of such
information about the Subscriber as the Company reasonably deems necessary or appropriate to comply with applicable U.S. anti-money
laundering, anti-terrorist and asset control laws, regulations, rules and orders. If the Subscriber is a financial institution
that is subject to the USA Patriot Act, the Subscriber represents that it has met all of its obligations under the USA Patriot
Act. The Subscriber acknowledges that if, following its investment in the Company, the Company reasonably believes that the Subscriber
is a Prohibited Subscriber or is otherwise engaged in suspicious activity or refuses to promptly provide information that the Company
requests, the Company has the right or may be obligated to prohibit additional investments, segregate the assets constituting the
investment in accordance with applicable regulations or immediately require the Subscriber to transfer the Shares. The Subscriber
further acknowledges that the Subscriber will have no claim against the Company or any of its affiliates or agents for any form
of damages as a result of any of the foregoing actions.



 






    	 	 12	 



     


    

 


If the Subscriber
is affiliated with a non-U.S. banking institution (a “Foreign Bank”), or if the Subscriber receives deposits
from, makes payments on behalf of, or handles other financial transactions related to a Foreign Bank, the Subscriber represents
and warrants to the Company that: (1) the Foreign Bank has a fixed address, other than solely an electronic address, in a country
in which the Foreign Bank is authorized to conduct banking activities; (2) the Foreign Bank maintains operating records related
to its banking activities; (3) the Foreign Bank is subject to inspection by the banking authority that licensed the Foreign Bank
to conduct banking activities; and (4) the Foreign Bank does not provide banking services to any other Foreign Bank that does not
have a physical presence in any country and that is not a regulated affiliate.


 


		k.	The Subscriber or its duly authorized representative realizes that because of the inherently speculative
nature of businesses of the kind conducted and contemplated by the Company, the Company’s financial results may be expected
to fluctuate from month to month and from period to period and will, generally, involve a high degree of financial and market risk
that could result in substantial or, at times, even total losses for investors in securities of the Company.



 


		l.	The Subscriber has adequate means of providing for its current and anticipated financial needs
and contingencies, is able to bear the economic risk for an indefinite period of time and has no need for liquidity of the investment
in the Shares and could afford complete loss of such investment.



 


		m.	The Subscriber is not subscribing for Shares as a result of or subsequent to any advertisement,
article, notice or other communication, published in any newspaper, magazine or similar media or broadcast over television, radio,
or the internet, or presented at any seminar or meeting, or any solicitation of a subscription by a person not previously known
to the Subscriber in connection with investments in securities generally.



 


		n.	The Subscriber acknowledges that no U.S. federal or state agency or any other government or governmental
agency has passed upon the Shares or made any finding or determination as to the fairness, suitability or wisdom of any investments
therein.



 


		o.	The Subscriber agrees to be bound by all of the terms and conditions of the Registration Rights
Agreement and to perform all obligations thereby imposed upon it.



 






    	 	 13	 



     


    

 


		p.	All of the information that the Subscriber has heretofore furnished or which is set forth herein
is true, correct and complete as of the date of this Agreement, and, if there should be any material change in such information
prior to the Closing Date, the Subscriber will immediately furnish revised or corrected information to the Company.



 


		q.	(For ERISA plans only) The fiduciary of the Employee Retirement Income Security Act of 1974
(“ERISA”) plan (the “Plan”) represents that such fiduciary has been informed
of and understands the Company’s investment objectives, policies and strategies, and that the decision to invest “plan
assets” (as such term is defined in ERISA) in the Company is consistent with the provisions of ERISA that require diversification
of plan assets and impose other fiduciary responsibilities. The Subscriber fiduciary or Plan (a) is responsible for the decision
to invest in the Company; (b) is independent of the Company or any of its affiliates; (c) is qualified to make such investment
decision; and (d) in making such decision, the Purchaser fiduciary or Plan has not relied primarily on any advice or recommendation
of the Company or any of its affiliates.



 


		6.	Transfer Restrictions. The Subscriber acknowledges and agrees as follows:



 


		a.	The Shares have not been registered for sale under the Securities Act, in reliance on the private
offering exemption in Regulation D thereunder; other than as expressly provide in the Registration Rights Agreement, the Company
does not currently intend to register the Shares under the Securities Act at any time in the future; and the undersigned will not
immediately be entitled to the benefits of Rule 144 with respect to the Shares.



 


		b.	The Subscriber understands that there are substantial restrictions on the transferability of the
Shares that the certificates representing the Shares shall bear a restrictive legend in substantially the following form (and a
stop-transfer order may be placed against transfer of such certificates or other instruments):



 


THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE
TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE
SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER
OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE
STATE SECURITIES LAWS. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES
ACT.


 






    	 	 14	 



     


    

 


The legend set forth
above shall be removed and the Company shall issue a certificate without such legend to the holder of the Shares upon which it
is stamped, if (a) such Shares are sold pursuant to a registration statement under the Securities Act, or (b) such holder delivers
to the Company an opinion of counsel, reasonably acceptable to the Company, that a disposition of the Shares is being made pursuant
to an exemption from such registration and that the Shares, after such transfer, shall no longer be “restricted securities”
within the meaning of Rule 144.


 


		c.	Each Subscriber understands that until May 22, 2015, the Company was a “shell company”
as defined in Rule 12b-2 under the Exchange Act. Pursuant to Rule 144(i), securities issued by a current or former shell company
(that is, the Shares) that otherwise meet the holding period and other requirements of Rule 144 nevertheless cannot be sold in
reliance on Rule 144 until one year after the Company (a) is no longer a shell company; and (b) has filed current “Form
10 information” (as defined in Rule 144(i)) with the SEC reflecting that it is no longer a shell company, and provided
that at the time of a proposed sale pursuant to Rule 144, the Company is subject to the reporting requirements of Section 13 or
15(d) of the Exchange Act and has filed all reports and other materials required to be filed by Section 13 or 15(d) of the Exchange
Act, as applicable, during the preceding 12 months (or for such shorter period that the issuer was required to file such reports
and materials), other than Form 8-K reports. As a result, the restrictive legends on certificates for the Shares cannot be removed
except in connection with an actual sale meeting the foregoing requirements or pursuant to an effective registration statement.



 


		7.	Indemnification.



 


		a.	The Subscriber agrees to indemnify and hold harmless the Company and any other broker, agent or
finder engaged by the Company for the Offering, and their respective officers, directors, shareholders, members, partners, employees
and agents, (and any other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of
such title or any other title), each person who controls such indemnified person (within the meaning of Section 15 of the Securities
Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members, partners or employees (and
any other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of such title or any
other title) of such controlling person, from and against all losses, liabilities, claims, damages, costs, fees and expenses whatsoever
(including, but not limited to, any and all expenses incurred in investigating, preparing or defending against any litigation commenced
or threatened) based upon or arising out of the Subscriber’s actual or alleged false acknowledgment, representation or warranty,
or misrepresentation or omission to state a material fact, or breach by the Subscriber of any covenant or agreement made by the
Subscriber, contained herein or in any other document delivered by the Subscriber in connection with this Agreement. The liability
of the Subscriber under this paragraph shall not exceed the aggregate Purchase Price paid by the Subscriber for Shares hereunder.



 






    	 	 15	 



     


    

 


		b.	The Company agrees to indemnify and hold harmless the Subscriber from and against all losses, liabilities,
claims, damages, costs, fees and expenses whatsoever (including, but not limited to, any and all expenses incurred in investigating,
preparing or defending against any litigation commenced or threatened) based upon or arising out of the Company’s actual
or alleged false acknowledgment, representation or warranty, or misrepresentation or omission to state a material fact, or breach
by the Company of any covenant or agreement made by the Company, contained herein or in any other any other Disclosure Materials.
The liability of the Company under this paragraph shall not exceed the total Purchase Price paid by the Subscriber hereunder.



 


		c.	Promptly after receipt by an indemnified party under this Section 7 of notice of the commencement
of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this
Section 7, notify the indemnifying party in writing of the commencement thereof; but the omission so to notify the indemnifying
party will not relieve it from any liability which it may have to any indemnified party otherwise than under this Section 7. In
case any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof,
the indemnifying party will be entitled to participate therein, and to the extent that it may elect by written notice delivered
to the indemnified party promptly after receiving the aforesaid notice from such indemnified party, to assume the defense thereof,
with counsel satisfactory to such indemnified party; provided, however, if the defendants in any such action include both the indemnified
party and the indemnifying party and either (i) the indemnifying party or parties and the indemnified party or parties mutually
agree or (ii) representation of both the indemnifying party or parties and the indemnified party or parties by the same counsel
is inappropriate under applicable standards of professional conduct due to actual or potential differing interests between them,
the indemnified party or parties shall have the right to select separate counsel to assume such legal defenses and to otherwise
participate in the defense of such action on behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying
party to such indemnified party of its election so to assume the defense of such action and approval by the indemnified party of
counsel, the indemnifying party will not be liable to such indemnified party under this Section 7 for any legal or other expenses
subsequently incurred by such indemnified party in connection with the defense thereof unless (i) the indemnified party shall have
employed counsel in connection with the assumption of legal defenses in accordance with the proviso to the next preceding sentence
(it being understood, however, that the indemnifying party shall not be liable for the expenses of more than one separate counsel
in such circumstance), (ii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent
the indemnified party within a reasonable time after notice of commencement of the action or (iii) the indemnifying party has authorized
the employment of counsel for the indemnified party at the expense of the indemnifying party. No indemnifying party shall (i) without
the prior written consent of the indemnified parties (which consent shall not be unreasonably withheld), settle or compromise or
consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of
which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties
to such claim or action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party
from all liability arising out of such claim, action, suit or proceeding, or (ii) be liable for any settlement of any such action
effected without its written consent (which consent shall not be unreasonably withheld), but if settled with its written consent
or if there be a final judgment of the plaintiff in any such action, the indemnifying party agrees to indemnify and hold harmless
any indemnified party from and against any loss or liability by reason of such settlement or judgment.



 






    	 	 16	 



     


    

 


		8.	Revocability; Binding Effect. The subscription hereunder may be revoked prior to the Closing
thereon, provided that written notice of revocation is sent and is received by the Company at least three business days prior to
the Closing on such subscription. The Subscriber hereby acknowledges and agrees that this Agreement shall survive the death or
disability of the Subscriber and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators,
successors, legal representatives and permitted assigns. If the Subscriber is more than one person, the obligations of the Subscriber
hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein shall be deemed
to be made by and be binding upon each such person and such person’s heirs, executors, administrators, successors, legal
representatives and permitted assigns.



 


		9.	Modification. This Agreement shall not be modified or waived except by an instrument in
writing signed by the party against whom any such modification or waiver is sought to be enforced.



 


		10.	Modifications to the Registration Rights Agreement. The Company may, at any time prior to
the initial Closing, amend the Registration Rights Agreement if necessary to make an immaterial clarification of any provision
therein, without first providing notice or obtaining prior consent of the Subscriber. Upon consummation of the reincorporation
of the Company from the State of Nevada to the State of Delaware, the Company shall amend the Registration Rights Agreement to
properly identify the Company as a Delaware corporation. Notices. Any notice or other communication required or permitted
to be given hereunder shall be in writing and shall be mailed by certified mail, return receipt requested, or delivered against
receipt to the party to whom it is to be given (a) if to the Company, at the address set forth above or (b) if to the Subscriber,
at the address set forth on the Omnibus Signature Page hereof (or, in either case, to such other address as the party shall have
furnished in writing in accordance with the provisions of this Section). Any notice or other communication given by certified mail
shall be deemed given at the time of certification thereof, except for a notice changing a party’s address which shall be
deemed given at the time of receipt thereof.



 






    	 	 17	 



     


    

 


		11.	Assignability. This Agreement and the rights, interests and obligations hereunder are not
transferable or assignable by the Subscriber, and the transfer or assignment of the Shares shall be made only in accordance with
all applicable laws.



 


		12.	Applicable Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of New York, without reference to the principles thereof relating to the conflict of laws.



 


		13.	Arbitration. The parties agree to submit all controversies to arbitration in accordance
with the provisions set forth below and understand that:



 


		a.	Arbitration shall be final and binding on the parties.



 


		b.	The parties are waiving their right to seek remedies in court, including the right to a jury trial.



 


		c.	Pre-arbitration discovery is generally more limited and different from court proceedings.



 


		d.	The arbitrator’s award is not required to include factual findings or legal reasoning and
any party’s right to appeal or to seek modification of rulings by arbitrators is strictly limited.



 


		e.	The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated
with the securities industry.



 


		f.	All controversies which may arise between the parties concerning this Agreement shall be determined
by arbitration pursuant to the rules then pertaining to the Financial Industry Regulatory Authority. Judgment on any award of any
such arbitration may be entered in the courts of the State of North Carolina sitting in Mecklenburg County and the United States
District Court for the Western District of North Carolina sitting in Charlotte, and any state or appellate court therefrom, or
in any other court having jurisdiction of the person or persons against whom such award is rendered. Any notice of such arbitration
or for the confirmation of any award in any arbitration shall be sufficient if given in accordance with the provisions of this
Agreement. The parties agree that the determination of the arbitrators shall be binding and conclusive upon them. The prevailing
party, as determined by such arbitrators, in a legal proceeding shall be entitled to collect any costs, disbursements and reasonable
attorney’s fees from the other party. Prior to filing an arbitration, the parties hereby agree that they will attempt to
resolve their differences first by submitting the matter for resolution to a mediator, acceptable to all parties, and whose expenses
will be borne equally by all parties. The mediation will be held in the County of Mecklenburg, North Carolina, on an expedited
basis. If the parties cannot successfully resolve their differences through mediation, the matter will be resolved by arbitration
as provided above. The arbitration shall take place in Charlotte, North Carolina, on an expedited basis.



 






    	 	 18	 



     


    

 


		14.	Blue Sky Qualification. The purchase of Shares under this Agreement is expressly conditioned
upon the exemption from qualification of the offer and sale of the Shares from applicable federal and state securities laws. The
Company shall not be required to qualify this transaction under the securities laws of any jurisdiction and, should qualification
be necessary, the Company shall be released from any and all obligations to maintain its offer, and may rescind any sale contracted,
in the jurisdiction.



 


		15.	Use of Pronouns. All pronouns and any variations thereof used herein shall be deemed to
refer to the masculine, feminine, neuter, singular or plural as the identity of the person or persons referred to may require.



 


		16.	Confidentiality. The Subscriber acknowledges and agrees that any information or data the
Subscriber has acquired from or about the Company or may acquire in the future, not otherwise properly in the public domain, including,
without limitation, the Disclosure Materials, was received in confidence. The Subscriber agrees not to divulge, communicate or
disclose, except as may be required by law or for the performance of this Agreement, or use to the detriment of the Company or
for the benefit of any other person, or misuse in any way, any confidential information of the Company, including any scientific,
technical, trade or business secrets of the Company and any scientific, technical, trade or business materials that are treated
by the Company as confidential or proprietary, including, but not limited to, internal personnel and financial information of the
Company or its affiliates, the manner and methods of conducting the business of the Company or its affiliates and confidential
information obtained by or given to the Company about or belonging to third parties. The Subscriber understands that the Company
may rely on Subscriber’s agreement of confidentiality to comply with the exemptive provisions of Regulation FD under the
Securities Act of 1933 as set forth in Rule 100(a)(b)(2)(ii) of Regulation FD. In addition, the Subscriber acknowledges that it
is aware that the United States securities laws generally prohibit any person who is in possession of material nonpublic information
about a public company such as the Company from purchasing or selling securities of such company. The provisions of this Section
17 are in addition to and not in replacement of any other confidentiality agreement between the Company and the Subscriber.



 


		17.	Price Protection. If, during the period from the first Closing of the Offering until ninety
(90) days after the date on which the Registration Statement (as defined in the Registration Rights Agreement) is declared effective
by the SEC, the Company shall issue Additional Shares of Common Stock (as defined below) for a consideration per share, or with
an exercise or conversion price per share, less than the Purchase Price (adjusted proportionately (or if it cannot be adjusted
proportionately, then equitably) for any event described in clause (ii) of the following paragraph occurring after the first Closing
of the Offering) (the “Lower Price”), the Subscriber shall be entitled to receive from the Company (for
no additional consideration) additional Shares in an amount such that, when added to the number of Shares purchased by Subscriber
under this Agreement, will equal the number of Shares that the Subscriber’s Purchase Price for the Shares set forth on the
Subscriber’s signature page hereof would have purchased at the Lower Price.



 






    	 	 19	 



     


    

 


“Additional Shares of
Common Stock” shall mean all shares of Common Stock issued by the Company after the first Closing of the Offering
(including without limitation any shares of Common Stock issuable upon conversion or exchange of any convertible securities or
upon exercise of any option, warrant or other right, on an as-converted or as-exercised basis, as of the date of issuance of such
security, option, warrant or right), other than: (i) shares of Common Stock issued or issuable upon conversion or exchange of any
convertible securities or exercise of any options, warrants or other rights outstanding as of the initial Closing; (ii) shares
of Common Stock issued or issuable by reason of a dividend, stock split, split-up or other distribution on shares of Common Stock
relating to any recapitalization, reclassification or reorganization of the capital stock of the Company or otherwise, or any consolidation
or merger of the Company with another corporation, or the sale of all or substantially all of its assets or other transaction effected
in such a way that there is no change of control; (iii) shares of Common Stock issued in a firmly underwritten registered public
offering under the Securities Act; (iv) shares of Common Stock issued or issuable pursuant to the acquisition of another entity
or business by the Company by merger, purchase of substantially all of the assets or other reorganization or pursuant to a joint
venture or technology license agreement, but not including a transaction in which the Company is issuing securities primarily for
the purpose of raising capital or to an entity whose primary business is investing in securities; (v) shares of Common Stock issued
or issuable to officers, directors and employees of, or consultants to, the Company pursuant to stock grants, option plans, purchase
plans or other employee stock incentive programs or arrangements approved by the Board of Directors, or upon exercise of options
or warrants granted to such parties pursuant to any such plan or arrangement; and (vi) securities issued to financial institutions,
institutional investors or lessors in connection with credit arrangements, equipment financings, lease arrangements or similar
transactions, in the aggregate not exceeding ten percent (10%) of the number of shares of Common Stock outstanding at any time,
and in case of clauses (ii) through (vi) above, such issuance is approved by a majority of disinterested directors of the Company
and includes no “death spiral” provision of any kind.


 


		18.	Miscellaneous.



 


		a.	This Agreement, together with the Registration Rights Agreement and any confidentiality agreement
between the Subscriber and the Company, constitute the entire agreement between the Subscriber and the Company with respect to
the Offering and supersede all prior oral or written agreements and understandings, if any, relating to the subject matter hereof.
The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document
executed by the party entitled to the benefits of such terms or provisions.



 


		b.	The representations and warranties of the Company and the Subscriber made in this Agreement shall
survive the execution and delivery hereof and delivery of the Shares for a period of twelve (12) months following the Closing Date.



 






    	 	 20	 



     


    

 


		c.	Each of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys,
accountants, appraisers or others engaged by such party) in connection with this Agreement and the transactions contemplated hereby,
whether or not the transactions contemplated hereby are consummated.



 


		d.	This Agreement may be executed in one or more original or facsimile (including by an e-mail which
contains a .pdf file of an executed signature page) counterparts, each of which shall be deemed an original, but all of which shall
together constitute one and the same instrument and which shall be enforceable against the parties actually executing such counterparts.
The exchange of copies of this Agreement and of signature pages by facsimile transmission or in .pdf format shall constitute effective
execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes.
Signatures of the parties transmitted by facsimile or by e-mail of a document in .pdf format shall be deemed to be their original
signatures for all purposes.



 


		e.	Each provision of this Agreement shall be considered separable and, if for any reason any provision
or provisions hereof are determined to be invalid or contrary to applicable law, such invalidity or illegality shall not impair
the operation of or affect the remaining portions of this Agreement.



 


		f.	Paragraph titles are for descriptive purposes only and shall not control or alter the meaning of
this Agreement as set forth in the text.



 


		g.	The Subscriber understands and acknowledges that there may be multiple Closings for the Offering.



 


		h.	The Subscriber hereby agrees to furnish the Company such other information as the Company may request
prior to the Closing with respect to its subscription hereunder.



 


		19.	Omnibus Signature Page. This Agreement is intended to be read and construed in conjunction
with the Registration Rights Agreement. Accordingly, pursuant to the terms and conditions of this Agreement and the Registration
Rights Agreement, it is hereby agreed that the execution by the Subscriber of this Agreement, in the place set forth on the Omnibus
Signature Page below, shall constitute agreement to be bound by the terms and conditions hereof and the terms and conditions of
the Registration Rights Agreement, with the same effect as if each of such separate but related agreement were separately signed.



 


		20.	Public Disclosure. Neither the Subscriber nor any officer, manager, director, member, partner,
stockholder, employee, affiliate, affiliated person or entity of the Subscriber shall make or issue any press releases or otherwise
make any public statements or make any disclosures to any third person or entity with respect to the transactions contemplated
herein and will not make or issue any press releases or otherwise make any public statements of any nature whatsoever with respect
to the Company without the Company’s express prior approval. The Company has the right to withhold such approval in its sole
discretion.



 






    	 	 21	 



     


    

 


		21.	Potential Conflicts. Legal counsel to the Company and any placement agents or brokers that
may be retained by the Company in connection with the Offering, and/or their respective affiliates, principals, representatives
or employees, may now or hereafter own stock of the Company or warrants to purchase Company stock.



 


[Signature page follows.]


 




    	 	 22	 



     


    

 


IN WITNESS WHEREOF, the Company has duly executed
this Subscription Agreement as of the _____ day of _________________, 2016.


 


	 	AKOUSTIS TECHNOLOGIES, INC.
	 	 	 
	 	By:	 
	 	 	Name:  Jeffrey B. Shealy
	 	 	Title:  Chief Executive Officer



 



    	 	 23	 



     


    

 


How to subscribe for Shares in the private
offering of

Akoustis Technologies, Inc.:


 


		1.	Date and Fill in the number of Shares being purchased and complete and sign the Omnibus
Signature Page.



 


		2.	Complete the Investor Certification as instructed therein.



 


		3.	Complete and sign the Investor Profile.



 


		4.	Complete and sign the Anti-Money Laundering Information Form.



 


		5.	Fax or email all forms and then send all signed original documents to:



 


Akoustis Technologies, Inc.


9805 Northcross Center Court, Suite H


Huntersville, NC 28078


Facsimile Number: (704) 997-5734


Telephone Number: (704) 997-5735


Attn: Cindy C. Payne


E-mail Address: cpayne@akoustis.com


 


		6.	If you are paying the Purchase Price by check, a certified or other bank check for
the exact dollar amount of the Purchase Price for the number of Shares you are purchasing should be made payable to the order of
Akoustis Technologies, Inc. and should be sent directly to Akoustis Technologies, Inc., 9805 Northcross Center Court,
Suite H, Huntersville, North Carolina 28078, Attn: Cindy Payne.



 


Checks take up to 5 business days
to clear. A check must be received by the Company at least 6 business days before the Closing Date.


 


		7.	If you are paying the Purchase Price by wire transfer, you should send a wire transfer
for the exact dollar amount of the Purchase Price for the number of Shares you are purchasing according to the following instructions:



 


		Bank:	Bank of America



9611 Holly Point Drive, Huntersville,
NC 28078


 





	 	ABA Routing #:	026009593
	 	 	 
	 	SWIFT CODE:	BOFAUS3N
	 	 	 
	 	Account Name:	Akoustis Technologies, Inc.
	 	 	 
	 	Account #:	237033644565







 


		Reference:	“Akoustis Private Offering –



[INSERT SUBSCRIBER’S NAME]”


 






    	 	 24	 



     


    

 


		Contact:	Morgan Temple



Vice President, Small Business Banker


704-914-5495


 


Thank you for your interest,


 


Akoustis Technologies, Inc.


 




    	 	 25	 



     


    

 


Akoustis Technologies, Inc.

OMNIBUS SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT AND REGISTRATION RIGHTS AGREEMENT


 


The undersigned, desiring to: (i) enter into
the Subscription Agreement, dated as of ________________,1 2016 (the “Subscription Agreement”), between
the undersigned, Akoustis Technologies, Inc., a Delaware corporation (the “Company”), and the other parties
thereto, in or substantially in the form furnished to the undersigned, (ii) enter into the Registration Rights Agreement (the “Registration
Rights Agreement”), among the undersigned, the Company and the other parties thereto, in or substantially in the form furnished
to the undersigned and (iii) purchase the Shares as set forth in the Subscription Agreement and below, hereby agrees to purchase
such Shares from the Company and further agrees to join the Subscription Agreement and the Registration Rights Agreement as a party
thereto, with all the rights and privileges appertaining thereto, and to be bound in all respects by the terms and conditions thereof.
The undersigned specifically acknowledges having read the representations section in the Subscription Agreement entitled “Representations
and Warranties of the Subscriber” and hereby represents that the statements contained therein are complete and accurate with
respect to the undersigned as a Subscriber.


 


IN WITNESS WHEREOF, the Subscriber hereby executes
this Subscription Agreement and the Registration Rights Agreement.


 


Dated: ___________________, 2016


 


	_______________X	 	$5.00	=	$_______________
	Number of Shares	 	Purchase Price per	 	Total Purchase Price
	 	 	Share	 	 


 


	SUBSCRIBER (individual)	 	SUBSCRIBER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature


 


	 	 	Print Name:	 
	Signature (if Joint Tenants or Tenants in Common)	 		 
	 	 	Title:	 


 


	Address of Principal Residence:	 	Address of Executive Offices:
	 	 	 
	 	 	 
	 	 	 
	 	 	 


 





 



1 Will reflect the Closing Date. Not to be completed
by Subscriber.


 






    	 	 26	 



     


    

 


	Social Security Number(s):	 	IRS Tax Identification Number:
	 	 	 
	 	 	 
	 	 	 
	Telephone Number:	 	Telephone Number:
	 	 	 
	 	 	 
	 	 	 
	Facsimile Number:	 	Facsimile Number:
	 	 	 
	 	 	 
	 	 	 
	E-mail Address:	 	E-mail Address:
	 	 	 
	 	 	 


 




    	 	 27	 



     


    

 


Akoustis Technologies, Inc.

INVESTOR CERTIFICATION


 


	Initial _____	I am an accredited investor, as indicated in the Accredited Investor Certification below.  (If this option is selected, complete and return the Accredited Investor Certification below by initialing all that apply.  If none apply, you are an unaccredited investor.)
	 	 
	Initial _____	I am an unaccredited investor with such knowledge and experience in financial and business matters that I am capable of evaluating the merits and risks of the Offering.  (If this option is selected, you will need to complete and return an Investor Questionnaire, to be provided by the Company.)
	 	 
	Initial _____	I am an unaccredited investor, and my purchaser representative has such knowledge and experience in financial and business matters that my purchaser representative is capable of evaluating the merits and risks of the Offering.  (If this option is selected, you will need to complete an Investor Acknowledgment and your purchaser representative will need to complete a Purchaser Representative Questionnaire, both as to be provided by the Company.
	 	 
	 	
        ACCREDITED INVESTOR CERTIFICATION

         

        For Individual Investors Only

        (all Individual Investors must INITIAL
        where appropriate):

         

	Initial _____	I have a net worth of at least US$1 million either individually or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership interest with my spouse.  (For purposes of calculating your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.)
	 	 
	Initial _____	
        I have had an annual gross income
for the past two years of at least US$200,000 (or US$300,000 jointly with my spouse) and expect my income (or joint income, as
appropriate) to reach the same level in the current year.

	 	 
	Initial _____	
        I am a director or executive officer
of Akoustis Technologies, Inc.



 






    	 	 28	 



     


    

 


	 	
        For Non-Individual Investors (Entities)

        (all Non-Individual Investors must
INITIAL where appropriate):

	 	 
	Initial _____	The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above (in which case each such person must complete the Accreditor Investor Certification for Individuals above as well the remainder of this questionnaire).
	 	 
	Initial _____	The investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets of at least US$5 million and was not formed for the purpose of investing in the Company.
	 	 
	Initial _____	The investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association, insurance company or registered investment advisor.
	 	 
	Initial _____	The investor certifies that it is an employee benefit plan whose total assets exceed US$5,000,000 as of the date of this Agreement.
	 	 
	Initial _____	The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet at least one of the criteria for Individual Investors.
	 	 
	Initial _____	The investor certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.
	 	 
	Initial _____	The undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.
	 	 
	Initial _____	The investor certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets exceeding US$5,000,000 and not formed for the specific purpose of investing in the Company.
	 	 
	Initial _____	The investor certifies that it is a trust with total assets of at least US$5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment.
	 	 
	Initial _____	The investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of US$5,000,000.


 


	Initial _____	The investor certifies that it is an insurance company as defined in §2(13) of the Securities Act of 1933, or a registered investment company.




 






    	 	 29	 



     


    

 


Akoustis Technologies, Inc.

Investor Profile

(Must be completed by Investor)

Section A - Personal Investor Information


 


	Investor	 
	Name(s):	 


 


	Individual executing Profile or Trustee:	 


 


	Social Security Numbers / Federal I.D. Number:	 


 


	Date of Birth:	 	 	 	Marital Status:	 	 
	Joint Party Date of Birth:	 	 	 	Investment Experience(Years):		 
	Annual Income:	 	 	 	Liquid Net Worth:	 	 


 


Net Worth*:


 


	Tax Bracket:	____ 15% or below	____ 25% - 27.5%	______Over 27.5%


 





	Home Street Address:	 


 


	Home City, State & Zip Code:	 







 


	Home	 	 	Home	 	 	 	 
	Phone:	 	 	Fax:	 	 	Home Email:	 


 


	Employer:	 


 


	Employer Street Address:	 


 


	Employer City, State & Zip Code:	 


 


	Bus. Phone:	 	 	Bus. Fax:	 	 	Bus. Email:	 


 


	Type of Business:	 


 


	Outside Broker/Dealer:	 



 



    	 	 30	 



     


    

 


Section B – Certificate Delivery
Instructions


 


____ Please deliver certificate to the Employer Address listed in
Section A.


____ Please deliver certificate to the Home Address listed in Section
A.


____ Please deliver certificate to the following address:


 


Section C – Form of Payment –Wire
Transfer


 


____ Check payable to Akoustis Technologies, Inc.


____ Wire
funds from my outside account according to Section 2(b) of the Subscription Agreement.


____ The funds
for this investment are rolled over, tax deferred from ______________ within the allowed 60-day window.


 


Please check if you are a FINRA member or affiliate of a FINRA member
firm: ____


  


	 	 	 
	Investor Signature	 	Date


 


* For purposes
of calculating your net worth in this form, (a) your primary residence shall not be included as an asset; (b) indebtedness
secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase
of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time
of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition
of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by
your primary residence in excess of the estimated fair market value of your primary residence at the time of your purchase of the
securities shall be included as a liability.


 




    	 	 31	 



     


    

 


ANTI-MONEY LAUNDERING REQUIREMENTS


 


The USA PATRIOT Act


 


The USA PATRIOT Act is designed to detect,
deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage
firms and financial institutions. Since April 24, 2002 all brokerage firms have been required to have new, comprehensive anti-money
laundering programs.


 


To help you understand these efforts, we want
to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.


 


What is money laundering?


 


Money laundering is the process of disguising
illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection
with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.


 


How big is the problem and why is it important?


 


The use of the U.S. financial system by criminals
to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent
estimate puts the amount of worldwide money laundering activity at $1 trillion a year.


 


What are we required to do to eliminate
money laundering?


 


Under rules required by the USA PATRIOT Act,
our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent audits,
and establish policies and procedures to detect and report suspicious transaction and ensure compliance with such laws. As part
of our required program, we may ask you to provide various identification documents or other information. Until you provide the
information or documents we need, we may not be able to effect any transactions for you.


 




    	 	 32	 



     


    

 


ANTI-MONEY LAUNDERING INFORMATION FORM

The following is required in accordance with the AML provision of the USA PATRIOT ACT.

(Please fill out and return with requested documentation.)


 


	INVESTOR NAME:	 	 
	 	 	 
	LEGAL ADDRESS:	 	 
	 	 	 
	SSN# or TAX ID#	 	 
	OF INVESTOR:	 	 
	 	 	 
	YEARLY INCOME:	 	 
	 	 	 
	NET WORTH:	 	 


 


* For purposes of calculating your net worth
in this form, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence,
up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included
as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds
the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount
of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the
estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.


 


	INVESTMENT OBJECTIVE(S) (FOR ALL INVESTORS):	 
	 	 
	ADDRESS OF BUSINESS OR OF EMPLOYER:	 
	 	 
	 	 
	 	 
	FOR INVESTORS WHO ARE INDIVIDUALS:  AGE:	 
	 	 
	FOR INVESTORS WHO ARE INDIVIDUALS:  OCCUPATION:	 
	 	 
	FOR INVESTORS WHO ARE ENTITIES:  TYPE OF BUSINESS:	 


  






    	 	 33	 



     


    

 


IDENTIFICATION & DOCUMENTATION AND SOURCE OF FUNDS:


 


		1.	Please submit a copy of non-expired identification for the authorized signatory(ies) on the investment
documents, showing name, date of birth, address and signature. The address shown on the identification document MUST match the
Investor’s address shown on the Investor Signature Page.



 





	Current Driver’s

License	or	Valid Passport or	or	Identity Card
		 	
        (Circle one or

        more)
	 	 










 


		2.	If the Investor is a corporation, limited liability company, trust or other type of entity, please
submit the following requisite documents: (i) Articles of Incorporation, By-Laws, Certificate of Formation, Operating Agreement,
Trust or other similar documents for the type of entity; and (ii) Corporate Resolution or power of attorney or other similar document
granting authority to signatory(ies) and designating that they are permitted to make the proposed investment.



 





		3.	Please advise where the funds were derived from to make the proposed investment:



 


	Investments  	Savings	Proceeds of Sale 	Other
	 	 	 	 
	 	 	(Circle one or more)	 


 


	Signature:	 	 
	 	 	 
	Print Name:	 	 
	 	 	 
	Title	 	 
	(if applicable):	 	 
	 	 	 
	Date:	 	 



 



    	 	 34	 



     


    

 


Schedule 3


 


Drexel Hamilton, LLC (“Drexel Hamilton”),
Northland Capital Markets (“Northland”), Joseph Gunnar & Co., LLC (“Joseph Gunnar”), and Katalyst Securities,
LLC have been engaged by the Company as placement agents in connection with the Offering. Each of these placement agents is entitled
to the following compensation based on the amount of gross proceeds raised by the respective placement agent:


 


		·	8% cash commissions for gross proceeds of up to $3 million or;






		·	10% cash commissions for gross proceeds above $3 million; and






		·	10% warrant commissions.



 


Drexel Hamilton has been engaged to serve as
lead placement agent for Northland and Joseph Gunnar. In addition to the compensation described above, Drexel Hamilton, as lead
placement agent, is entitled to the following compensation based on the amount of gross proceeds raised by Drexel Hamilton, Northland,
and Joseph Gunnar:


 


		·	1% cash commissions; and






		·	1% warrant commissions.



 




    	 	 35	 



     


    

 


Schedule 4a


 


Subsidiaries


 


Akoustis, Inc., a Delaware corporation


 




    	 	 36	 



     


    

 


Schedule 4c


 


Capitalization


 


		(ii)	Options, Warrants, etc.



 


As of November 22, 2016, the Company
had options to purchase 160,000 shares of common stock issued and outstanding and warrants to purchase 471,697 shares of common
stock issued and outstanding.


 


		(iv)	Registration rights



 


Pursuant to that certain registration
rights agreement (the “2015 Registration Rights Agreement”) entered into by the Company and the subscribers in the
private placement offering of Common Stock conducted by the Company in May and June 2015 (the “2015 Offering”), the
Company is required to maintain the effectiveness of the Registration Statement on Form S-1 declared effective by the Securities
and Exchange Commission on October 20, 2015 for a period of twenty-four (24) months. In addition, the 2015 Registration Rights
Agreement provides for customary piggyback registration rights. A copy of the 2015 Registration Rights Agreement is filed as Exhibit
10.9 to the Current Report on Form 8-K filed by the Company with the SEC on May 29, 2015, the text of which is incorporated herein
by reference.


 


Pursuant to that certain registration
rights agreement (the “2016 Registration Rights Agreement”) entered into by the Company and the subscribers in the
private placement of Common Stock conducted by the Company in March and April 2016 (the “2016 Offering”), the Company
is required to maintain the effectiveness of the Registration Statement on Form S-1 declared effective by the Securities and Exchange
Commission on July 22, 2016 for a period of twenty-four (24) months. In addition, the 2016 Registration Rights Agreement provides
for customer piggyback registration rights. A copy of the 2016 Registration Rights Agreement is filed as Exhibit 10.1 to the Current
Report on Form 8-K filed by the Company with the SEC on March 11, 2016, the text of which is incorporated herein by reference.


 




    	 	 37	 



     


    

 


Schedule 4e


 


Consents



None






 




    	 	 38	 



     


    

 


Schedule 4f



Litigation



None


 




    	 	 39	 



     


    

 


Schedule 4k



Intellectual Property Rights



No exceptions.






 




    	 	 40	 



     


    

 


Schedule 4n


 


Title


 


No exceptions


 




    	 	 41	 



     


    

 


Schedule 4q



Rights of First Refusal


 


None


 




    	 	 42	 



     


    

 


Schedule 4t


 


Brokers’ Fees


 


See Schedule 3.


 




    	 	 43	 



     


    

 


EXHIBIT A


 


Form of Registration Rights Agreement


 






    	 	 44