Document:

Exhibit 10.6

 

SPONSOR WARRANTS PURCHASE AGREEMENT

 

THIS
SPONSOR WARRANTS PURCHASE AGREEMENT, dated as of April 6, 2017 (as it may from time to time be amended and including all exhibits
referenced herein, this “Agreement”), is entered into by and between Hennessy Capital Acquisition Corp. III,
a Delaware corporation (the “Company”), and Hennessy Capital Partners III LLC, a Delaware limited liability
company (the “Purchaser”).

 

The
Company intends to consummate a public offering of the Company’s units (the “Public Offering”), each
unit consisting of one share of the Company’s common stock, par value $0.0001 per share (a “Share”),
and one-half of one warrant. Each whole warrant entitles the holder to purchase one Share at an exercise price of $11.50 per whole
Share. The Purchaser has agreed to purchase an aggregate of 8,250,000 warrants (or up to 9,075,000 warrants if the over-allotment
option in connection with the Public Offering is exercised in full) (the “Sponsor Warrants”), each Sponsor
Warrant entitling the holder to purchase one Share at an exercise price of $11.50 per whole Share.

 

NOW
THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound,
agree as follows:

 

AGREEMENT

 

Section 1.
Authorization, Purchase and Sale; Terms of the Sponsor Warrants.

 

A. Authorization
of the Sponsor Warrants. The Company has duly authorized the issuance and sale of the Sponsor Warrants to the Purchaser.

 

B. Purchase
and Sale of the Sponsor Warrants.

 

(i)
As payment in full for the 8,250,000 Sponsor Warrants being purchased under this Agreement, Purchaser shall pay $8,250,000 (the
“Purchase Price”), by wire transfer of immediately available funds or by such other method as may be reasonably
acceptable to the Company, to the trust account (the “Trust Account”) at a financial institution to be
chosen by the Company, maintained by Continental Stock Transfer & Trust Company, acting as trustee, or into an escrow
account maintained by Ellenoff Grossman & Schole LLP (“EG&S”), counsel for the Company, at
least one (1) business day prior to the date of effectiveness of the registration statement to be filed in connection with the
Public Offering (the “Registration Statement”).

 

(ii)
In the event that the over-allotment option is exercised in full or in part, Purchaser shall purchase up to an additional 825,000
Sponsor Warrants (the “Additional Sponsor Warrants”), in the same proportion as the amount of the over-allotment
option that is exercised, and simultaneously with such purchase of Additional Sponsor Warrants, as payment in full for the Additional
Sponsor Warrants being purchased hereunder, and at least one (1) business day prior to the closing of all or any portion of the
over-allotment option, Purchaser shall pay $1.00 per Additional Sponsor Warrant, up to an aggregate amount of $825,000, by wire
transfer of immediately available funds or by such other method as may be reasonably acceptable to the Company, to the Trust Account.

 

(iii)
The closing of the purchase and sale of the Sponsor Warrants shall take place simultaneously with the closing of the Public Offering
(the “Initial Closing Date”). The closing of the purchase and sale of the Additional Sponsor Warrants, if applicable,
shall take place simultaneously with the closing of all or any portion of the over-allotment option (such closing date, together
with the Initial Closing Date, the “Closing Dates” and each, a “Closing Date”). The closing
of the purchase and sale of each of the Sponsor Warrants and the Additional Sponsor Warrants shall take place at the offices of
EG&S, 1345 Avenue of the Americas, New York, New York, 10105, or such other place as may be agreed upon by the parties hereto.

 

C. Terms
of the Sponsor Warrants.

 

(i)
The Sponsor Warrants shall have their terms set forth in a Warrant Agreement to be entered into by the Company and a warrant agent,
in connection with the Public Offering (a “Warrant Agreement”).

 

     

     

    

 

(ii)
At or prior to the time of the Initial Closing Date, the Company and the Purchaser shall enter into a registration rights agreement
(the “Registration Rights Agreement”) pursuant to which the Company will grant certain registration rights
to the Purchaser relating to the Sponsor Warrants and the Shares underlying the Sponsor Warrants.

 

Section 2.
Representations and Warranties of the Company.  As a material inducement to the Purchaser to enter into this Agreement
and purchase the Sponsor Warrants, the Company hereby represents and warrants to the Purchaser (which representations and warranties
shall survive the Closing Dates) that:

 

A. Organization
and Corporate Power. The Company is a corporation duly organized, validly existing and in good standing under the laws of
the State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably
be expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement and
the Warrant Agreement.

 

B. Authorization;
No Breach.

 

(i)
The execution, delivery and performance of this Agreement and the Sponsor Warrants have been duly authorized by the Company as
of the Closing Dates. This Agreement constitutes the valid and binding obligation of the Company, enforceable in accordance with
its terms. Upon issuance in accordance with, and payment pursuant to, the terms of the Warrant Agreement and this Agreement, the
Sponsor Warrants will constitute valid and binding obligations of the Company, enforceable in accordance with their terms as of
the Closing Dates.

 

(ii)
The execution and delivery by the Company of this Agreement and the Sponsor Warrants, the issuance and sale of the Sponsor Warrants,
the issuance of the Shares upon exercise of the Sponsor Warrants and the fulfillment of, and compliance with, the respective terms
hereof and thereof by the Company, do not and will not as of the Closing Dates (a) conflict with or result in a breach of
the terms, conditions or provisions of, (b) constitute a default under, (c) result in the creation of any lien, security
interest, charge or encumbrance upon the Company’s capital stock or assets under, (d) result in a violation of, or
(e) require any authorization, consent, approval, exemption or other action by or notice or declaration to, or filing with,
any court or administrative or governmental body or agency pursuant to the certificate of incorporation or the bylaws of the Company
(in effect on the date hereof or as may be amended prior to completion of the contemplated Public Offering), or any material law,
statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company
is subject, except for any filings required after the date hereof under federal or state securities laws.

 

C. Title
to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the
Shares issuable upon exercise of the Sponsor Warrants will be duly and validly issued, fully paid and nonassessable. Upon issuance
in accordance with, and payment pursuant to, the terms hereof and the Warrant Agreement, the Purchaser will have good title to
the Sponsor Warrants and the Shares issuable upon exercise of such Sponsor Warrants, free and clear of all liens, claims and encumbrances
of any kind, other than (i) transfer restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer
restrictions under federal and state securities laws, and (iii) liens, claims or encumbrances imposed due to the actions
of the Purchaser.

 

D. Governmental
Consents. No permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is
required in connection with the execution, delivery and performance by the Company of this Agreement or the consummation by the
Company of any other transactions contemplated hereby.

 

Section 3.
Representations and Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement
and issue and sell the Sponsor Warrants to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations
and warranties shall survive the Closing Dates) that:

 

A. Organization
and Requisite Authority. The Purchaser possesses all requisite power and authority necessary to carry out the transactions
contemplated by this Agreement.

 

    	 	2	 

     

    

 

B. Authorization;
No Breach.

 

(i)
This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance with its terms, subject
to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability relating
to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or law).

 

(ii)
The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with the terms hereof by the
Purchaser does not and shall not as of the Closing Dates conflict with or result in a breach by the Purchaser of the terms, conditions
or provisions of any agreement, instrument, order, judgment or decree to which the Purchaser is subject.

 

C. Investment
Representations.

 

(i)
The Purchaser is acquiring the Sponsor Warrants and, upon exercise of the Sponsor Warrants, the Shares issuable upon such exercise
(collectively, the “Securities”), for the Purchaser’s own account, for investment purposes only and not with
a view towards, or for resale in connection with, any public sale or distribution thereof.

 

(ii)
The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation D.

 

(iii)
The Purchaser understands that the Securities are being offered and will be sold to it in reliance on specific exemptions from
the registration requirements of the United States federal and state securities laws and that the Company is relying upon the
truth and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser set forth
herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities.

 

(iv)
The Purchaser did not enter into this Agreement as a result of any general solicitation or general advertising within the meaning
of Rule 502(c) under the Securities Act of 1933, as amended (the “Securities Act”).

 

(v)
The Purchaser has been furnished with all materials relating to the business, finances and operations of the Company and materials
relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser has been afforded the
opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that its investment
in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered
necessary to make an informed investment decision with respect to the acquisition of the Securities.

 

(vi)
The Purchaser understands that no United States federal or state agency or any other government or governmental agency has passed
on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(vii)
The Purchaser understands that: (a) the Securities have not been and are not being registered under the Securities Act or
any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered
thereunder or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration
Rights Agreement, neither the Company nor any other person is under any obligation to register the Securities under the Securities
Act or any state securities laws or to comply with the terms and conditions of any exemption thereunder. In this regard, the Purchaser
understands that the Securities and Exchange Commission has taken the position that promoters or affiliates of a blank check company
and their transferees, both before and after an initial business combination, are deemed to be “underwriters” under
the Securities Act when reselling the securities of a blank check company. Based on that position, Rule 144 adopted pursuant
to the Securities Act would not be available for resale transactions of the Securities despite technical compliance with the certain
requirements of such Rule, and the Securities can be resold only through a registered offering or in reliance upon another exemption
from the registration requirements of the Securities Act.

 

    	 	3	 

     

    

 

(viii)
The Purchaser has such knowledge and experience in financial and business matters, knowledge of the high degree of risk associated
with investments in the securities of companies in the development stage such as the Company, is capable of evaluating the merits
and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the amount
contemplated hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial
needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment
in the Securities. The Purchaser can afford a complete loss of its investments in the Securities.

 

Section 4.
Conditions of the Purchaser’s Obligations. The obligations of the Purchaser to purchase and pay for the Sponsor
Warrants are subject to the fulfillment, on or before the Closing Dates, of each of the following conditions:

 

A. Representations
and Warranties. The representations and warranties of the Company contained in Section 2 shall be true and correct at
and as of the Closing Dates as though then made.

 

B. Performance.
The Company shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing Dates.

 

C. No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D. Warrant
Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent on terms satisfactory to the Purchaser.

 

Section 5.
Conditions of the Company’s Obligations. The obligations of the Company to the Purchaser under this Agreement are
subject to the fulfillment, on or before the Closing Dates, of each of the following conditions:

 

A. Representations
and Warranties. The representations and warranties of the Purchaser contained in Section 3 shall be true and correct
at and as of the Closing Dates as though then made.

 

B. Performance.
The Purchaser shall have performed and complied with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by the Purchaser on or before the Closing Dates.

 

C. No
Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted,
entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory
organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions
contemplated by this Agreement or the Warrant Agreement.

 

D. Warrant
Agreement and Registration Rights Agreement. The Company shall have entered into a Warrant Agreement with a warrant agent
and the Registration Rights Agreement, each on terms satisfactory to the Company.

 

Section 6.
Termination. This Agreement may be terminated at any time after September 30, 2017 upon the election by either the Company
or a Purchaser entitled to purchase a majority of the Sponsor Warrants upon written notice to the other parties if the closing
of the Public Offering does not occur prior to such date.

 

Section 7.
Survival of Representations and Warranties. All of the representations and warranties contained herein shall survive
the Closing Dates.

 

Section 8.
Definitions. Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in
the registration statement on Form S-1 the Company plans to file with the Securities and Exchange Commission, under the Securities
Act.

 

    	 	4	 

     

    

 

Section 9.
Miscellaneous.

 

A. Successors
and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or
on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors of the parties hereto
whether so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not assign this
Agreement, other than assignments by the Purchaser to affiliates thereof.

 

B. Severability.
Whenever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision shall
be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this Agreement.

 

C. Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, none of which need contain the signatures of more than
one party, but all such counterparts taken together shall constitute one and the same agreement.

 

D. Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a substantive part of this Agreement. The use of the word “including” in this Agreement shall be by way of example
rather than by limitation.

 

E. Governing
Law. This Agreement shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall
be construed in accordance with the internal laws of the State of Delaware.

 

F. Amendments.
This letter agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed
by all parties hereto.

 

[Signature
page follows]

  

    	 	5	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the date first set forth above.

 

	 	COMPANY:
	 	 
	 	HENNESSY
    CAPITAL ACQUISITION CORP. III  
	 	 	 
	 	By:	/s/ Daniel J. Hennessy
	 	 	Name:
    Daniel J. Hennessy
	 	 	Title:
      Chief Executive Officer
	 	 	 
	 	PURCHASER:
	 	 
	 	HENNESSY
    CAPITAL PARTNERS III LLC
	 	 
	 	By:	Hennessy
    Capital LLC, its Managing Member  
	 	 	 
	 	By:	/s/ Daniel J. Hennessy
	 	 	Name:
    Daniel J. Hennessy
	 	 	Title:
      Managing Member

 

 

 

6Exhibit 10.1

 

 

May 12, 2017

 

David M. Aichele

9511 Cennetta Court

Huntersville, NC 28078

 

Dear Mr. Aichele:

 

We are pleased to present the following
offer of at-will employment. This employment offer letter (the “Letter”) summarizes the details of your
position with Akoustis Technologies, Inc. (“Akoustis”) in the full-time position of Vice President of
Business Development. The terms of this Letter commence on June 16, 2017. You will report to Jeffrey Shealy, the Chief Executive
Officer. Your duties and responsibilities in connection with such position shall include those that are appropriate for, and those
that are normally associated with such position and as the Board of Directors of Akoustis (the “Board”)
may from time to time reasonably assign to you.

 

The terms and conditions of this offer
are as follows:

 

1.          TriNet
HR Corporation. Our benefits, payroll, and other human resource management services are provided through TriNet HR Corporation
(“TriNet”), a professional employer organization. As a result of Akoustis’ arrangement with TriNet,
TriNet shall be considered your employer of record for these purposes and your managers at Akoustis shall be responsible for directing
your work, reviewing your performance, and setting your schedule.

 

2.          Place
of Performance. Your principal place of employment shall be at Akoustis’ headquarters in Huntersville, NC. You acknowledge
that you may be required to travel to other locations and/or work at any other location where Akoustis has a business facility
in connection with the performance of your duties hereunder.

 

3.          Devotion
of Time and Effort. You shall devote all of your business time, attention and skills to the performance of your duties as a
senior executive of Akoustis. You shall perform your duties in a professional manner, in accordance with all material, applicable
laws, rules and regulations and such reasonable standards, policies and procedures established by Akoustis and the industry from
time to time.

 

4.          Base
Compensation. Your base compensation shall be $141,080 per year, paid in bi-weekly installments, less any applicable payroll
deductions and required tax withholdings, all in accordance with Akoustis’ customary payroll practices. Your base compensation
may be increased or decreased at the sole discretion of the Board.

 

     

     

    

 

5.          Annual
Bonus. You shall be eligible to receive an annual cash bonus of up to fifty percent (50%) of your base compensation if certain
operational, financial or other milestones determined by the Board, in its sole discretion, have been accomplished for Akoustis.
You shall be eligible to participate in any other bonus or incentive program established by Akoustis for senior executives of Akoustis.
In order to receive the annual bonus or bonuses paid under any other Akoustis program, you must remain employed at the time of
such payment.

 

6.          Benefits.
You shall be entitled to participate in all pension, profit sharing, retirement savings plan, 401K or other similar benefit, medical,
disability and other employee benefit plans and programs generally provided by Akoustis to senior executives of Akoustis from time
to time hereafter, as the same may be adopted and/or amended from time to time.

 

7.          Vacation;
Personal Days. You shall be entitled to three (3) weeks of vacation per year and personal days on a basis consistent with Akoustis’
other senior executives, as determined by the Board.

 

8.          Expense
Reimbursement. Akoustis shall reimburse you for all reasonable business, promotional, travel and entertainment expenses incurred
or paid by you in the performance of your duties hereunder on a basis consistent with Akoustis’ other senior executives,
as determined by the Board, provided that you furnish appropriate documentation as Akoustis may from time to time reasonably request
and consistent with Akoustis policy and procedure.

 

9.          Employment
“At Will”; Termination. Your employment with Akoustis shall be entirely “at will,” meaning that either
you or Akoustis may terminate this Letter and the employment relationship established hereunder by delivering written notice to
the other party at any time for any reason or for no reason at all. Nothing in this Letter shall alter the nature of your at-will
employment.

 

10.         Stock.
You will be eligible to participate in and receive awards under Akoustis’ 2016 Stock Incentive Plan, as it may be amended,
or any successor plan thereto (the “2016 Plan”). The amount, form, and vesting and other terms and conditions
of such awards will be reviewed and established periodically by the Compensation Committee of the Board (the “Compensation
Committee”). Your awards shall be of a type(s) determined by the Compensation Committee (e.g., restricted stock awards,
restricted stock units, options, other equity awards, or any combination of the foregoing) and shall be subject to the terms of
the 2016 Plan and award agreement(s) in form(s) established by the Compensation Committee. Your awards will be further subject
to Akoustis’ Insider Trading Policy (as it may be amended), any share ownership guidelines adopted from time to time by the
Board, and transaction reporting requirements under applicable securities laws.

 

    	 	2	 

     

    

 

11.         Ownership
of Work Products. You acknowledge that all Inventions (as hereinafter defined), innovations, patents, patent applications,
improvements, know-how, Proprietary Rights (as hereinafter defined), plans, development, methods, designs, specifications, software,
drawings, mask works, know-how, methods, analyses, research, reports and all similar or related property or information (whether
or not patentable or reduced to practice) which relate to any of Akoustis’ actual or proposed business activities and which
are created, designed or conceived, developed or made by you during your past or future employment with Akoustis (“Work
Product”) belong to Akoustis or any of its Affiliates. Any copyrightable work falling within the definition of Work
Product shall be deemed a “work made for hire” and ownership of all right, title and interest shall vest in Akoustis.
You hereby irrevocably assign, transfer and convey, to the fullest extent permitted by law, all right, title and interest in the
Work Product, on a worldwide basis, to Akoustis to the extent ownership of any rights does not automatically vest in Akoustis under
applicable law. You shall promptly disclose any such Work Product to Akoustis and perform all actions requested by Akoustis (whether
during or after your employment) to establish and confirm ownership of such Work Product by Akoustis (including, without limitation,
assignments, consents, powers of attorney and other instruments).

 

12.         Restrictive
Covenants.

 

a.           Confidentiality.
You understand that Akoustis and any of its Affiliates (as hereinafter defined), from time to time, may impart to you Confidential
Information (as hereinafter defined), whether such information is written, oral, electronic or graphic. You hereby acknowledge
Akoustis’ exclusive ownership of such Confidential Information. In exchange for good and valuable consideration, including
an increase in your base compensation, for the duration of your employment and for all times thereafter, you agree that you will:
(i) only use the Confidential Information in the performance of your duties hereunder; (ii) only communicate the Confidential Information
to fellow employees, agents and representatives strictly on a need-to-know basis; and (iii) not otherwise disclose or use any of
the Confidential Information, except as may be required by law or otherwise authorized by the Board. Notwithstanding the foregoing,
you understand that: (i) nothing in this Letter or other agreement prohibits you from reporting possible violations of law or regulation
to any federal, state, or local governmental agency or entity (the “Government Agencies”), or communicating
with Government Agencies or otherwise participating in any investigation or proceeding that may be conducted by Government Agencies,
including providing documents or other information; (ii) you do not need the prior authorization of Akoustis to take any action
described in (i), and you are not required to notify Akoustis that you have taken any action described in (i); and (iii) the Letter
does not limit your right to receive an award for providing information relating to a possible securities law violation to the
Securities and Exchange Commission. Further, you understand that the Defend Trade Secrets Act of 2016 provides that an individual
shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret
that: (i) is made (A) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney;
and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other
document filed in a lawsuit or other proceeding, if such filing is made under seal.

 

Upon demand by Akoustis
or upon termination of your employment, you shall deliver to Akoustis all manuals, photographs, recordings and any other instrument
or device by which, through which or on which Confidential Information has been recorded and/or preserved, and which are in your
possession, custody or control.

 

    	 	3	 

     

    

 

b.           Non-Solicitation.
During the Restricted Period, and in exchange for good and valuable consideration, including an increase in your base compensation,
you agree you shall not (i) solicit or hire, or attempt to recruit, persuade, solicit or hire, any employee, or independent contractor
of, or consultant to, Akoustis or any of its Affiliates to leave their employment (or independent contractor relationship) thereof,
whether or not any such employee or independent contractor is party to an employment agreement, or (ii) on behalf of any entity
or individual other than Akoustis, attempt in any manner to solicit any Customer (as hereinafter defined) of Akoustis or any of
its Affiliates with whom you had material contact during the last twelve (12) months of your employment, to conduct business with
any entity or individual competitive with the Business done by Akoustis (as hereinafter defined) or to persuade or attempt to persuade
any such Customer to cease to do business or to reduce the amount of business which such Customer has customarily done or is reasonably
expected to do with Akoustis or any of its Affiliates, or have any discussions regarding any such business or service with such
Customer.

 

c.           Definitions.
For purposes of this Letter, the following terms shall have the meanings ascribed to them below:

 

i.            “Affiliate”
means Akoustis’ subsidiaries from time to time, together with any other affiliates of Akoustis.

 

ii.           “Business”
means the design, manufacture, marketing and sale of acoustic wave filters for the wireless communications markets.

 

iii.         “Confidential
Information” means any and all information (to the extent that such information is not publicly available) relating
to (A) Customers and Suppliers (as hereinafter defined) of Akoustis or any of its Affiliates, (B) any Inventions and related Proprietary
Rights of Akoustis or any of its Affiliates, (C) budgets, financial statements, projections and other financial information of
Akoustis or any of its Affiliates, (D) marketing, engagement, retention and training for Customers, prospective and current employees
and contractors of Akoustis or any of its Affiliates, (E) pricing, pricing strategies, budgets, financial statements, projections
and other financial information of Akoustis or any of its Affiliates, (F) the skills and compensation of past or present officers,
directors, and employees of Akoustis or any of its Affiliates, and other persons providing services to Akoustis or any of its Affiliates,
and other personnel information, (G) research, development, current and proposed products, marketing, promotions, sales, and other
business plans of Akoustis or any of its Affiliates, and (H) any other information regarding Akoustis or any of its Affiliates
that is not generally known to the public.

 

iv.         “Customer”
means any natural person or business entity, or groups of natural persons or business entities that, within twelve (12) months
prior to the termination of your employment with Akoustis, purchased products or services from Akoustis or any of its Affiliates.
The term “Customer” also includes prospective customers or groups of Customers that Akoustis or any of
its Affiliates has directly or indirectly targeted or intends to target, as evidenced by a business, marketing or sales plan, strategy
or report known to you within the twelve (12) months prior to the termination of your employment with Akoustis.

 

v.           “Inventions”
means trade secrets, inventions, ideas, processes, formulas, software, source or object codes, data, programs, other works of authorship,
know-how, improvements, discoveries, developments, designs and techniques.

 

    	 	4	 

     

    

 

vi.         “Proprietary
Rights” means all trade secret, patent, copyright, and other intellectual property rights throughout the world.

 

vii.         “Restricted
Period” means the duration of your employment and a period of one (1) year after the termination of your employment
with Akoustis for any reason.

 

viii.         “Supplier”
means, as of the date of determination, any natural person or business entity, or groups of natural persons or business entities,
with which Akoustis or any of its Affiliates, has or has had an agreement (whether in writing or not) regarding the obligation
of such person or entity to supply products or services to Akoustis or any of its Affiliates during the twelve (12) months prior
to such date.

 

d.           Injunctive
Relief. You recognize and agree that any violation of your obligations under this Section shall cause irreparable harm to Akoustis
and any of its Affiliates that would be difficult to quantify and for which money damages would be inadequate, and that Akoustis
shall have the right to injunctive relief to prevent or restrain any such violation, without the necessity of posting a bond. The
Restricted Period shall be extended by the duration of any violation by you of any of your obligations under this Section.

 

e.           Modification.
You intend that the provisions of this Section be enforced as written. However, if any provision of this Letter is determined to
be unenforceable, in whole or in part, then the parties hereto agree to enter into an agreement to reform such provisions to set
forth the maximum limitations permitted by applicable law. If any court determines that any provision of this Section, or any part
thereof, is unenforceable because of the duration or scope of such provision, such court will have the power to modify such provision
and, in its modified form, such provision will then be enforceable.

 

13.         Notices.
All notices, requests, demands and other communications called for or contemplated hereunder shall be in writing and shall be deemed
to have been duly given (i) if delivered personally, upon delivery, (ii) if delivered by facsimile, upon facsimile confirmation,
(iii) if delivered by mail, upon the date of delivery shown in the return receipt (or if none shown, five (5) days after deposit
in the mail) when placed in the United States mails and forwarded by registered or certified mail, return receipt requested, postage
prepaid, and (iv) if delivered by overnight courier, one day after being sent to the recipient by reputable overnight courier service
(charges prepaid), each addressed to the party to whom notice is being given at the addresses set forth herein or such other address
as may be subsequently designated in writing.

 

14.         Miscellaneous.
You acknowledge that you are receiving valuable consideration in exchange for agreeing to the terms of this Letter. This Letter
and any disputes or controversies arising hereunder shall be construed and enforced in accordance with and governed by the internal
laws of the State of North Carolina without regard to the conflicts of laws principles thereof. Except as otherwise provided herein,
this Letter constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes
and cancels any and all previous agreements, written and oral, regarding the subject matter hereof between the parties hereto.
This Letter shall not be changed, altered, modified or amended, except by a written agreement signed by both parties hereto. You
may not assign this Letter or any of your rights or obligations hereunder. Akoustis may assign this Letter and its right and obligations
hereunder, in whole or in part. This Letter may be executed in multiple counterparts, each of which shall be deemed an original,
and all of which together shall constitute one and the same instrument. A signed copy of this Letter delivered by e-mail or other
means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Letter.
Headings in this Letter are for reference purposes only and shall not be deemed to have any substantive effect.

 

    	 	5	 

     

    

 

Please sign and return this Letter indicating
your acceptance of employment with Akoustis and your agreement to the terms of our offer by signing below. If you have not accepted
this offer of employment by 5:00 p.m. on June 15, 2017, we will assume that you are resigning your employment.

 

	 	Sincerely,
	 	 
	 	Akoustis Technologies, Inc.
	 	 	 
	 	By:	/s/ Jeffrey B. Shealy
	 	 	Jeffrey B. Shealy, CEO

 

	ACCEPTED BY: 	 
	 	 
	/s/ David M. Aichele	 
	David M. Aichele	 
	 	 
	5/26/17	 
	Date 	 

 

    	 	6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00271-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00271-of-00352.parquet"}]]