Document:

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

 

    	 	 44Exhibit 10.8

 

PLACEMENT AGENCY AGREEMENT

 

December 8, 2016

 

Katalyst Securities LLC

Mr. Michael A. Silverman

1330 Avenue of the Americas, 14th
Floor

New York,
New York 10019

 

		Re:	Akoustis Technologies, Inc.

 

Dear Mr. Silverman:

 

This Placement Agency
Agreement (“Agreement”) sets forth the terms upon which Katalyst Securities LLC (“Katalyst”), registered
broker-dealer and member of the Financial Industry Regulatory Authority (“FINRA”), (hereinafter referred to as the
“Placement Agent”), shall be engaged by Akoustis Technologies, Inc., a publicly traded Nevada corporation (hereinafter
referred to as the “Company”), to act as a non-exclusive Placement Agent in connection with the private placement (the
“Offering”) of the securities of the Company referred to below (the “Securities”). The initial closing
of the Offering will be conditioned upon and acceptance of subscriptions for the Minimum Offering Amount (as defined below).

 

1.           Appointment
of Placement Agent.

 

A.           Appointment
As Non-Exclusive Agent.

 

(a)          On
the basis of the written and documented representations and warranties of the Company provided herein, and subject to the terms
and conditions set forth herein, the Placement Agent is hereby appointed as a non-exclusive Placement Agent of the Company during
the Offering Period (as defined in Section 1(b) below) to assist the Company in finding qualified subscribers for the Offering.
The Placement Agent may sell the Securities through other broker-dealers who are FINRA members (collectively, the “Sub Agents”)
and may reallow all or a portion of the Brokers’ Fees (as defined in Section 2(a), 2(b) and 2(d) below) it receives to such
other Sub Agents or pay a finders or consultant fee as allowed by applicable law. On the basis of such representations and warranties
and subject to such terms and conditions, the Placement Agent hereby accepts such appointment and agrees to perform the services
hereunder diligently and in good faith and in a professional and businesslike manner and in compliance with applicable law and
to use its reasonable best efforts to assist the Company in finding subscribers of the Securities who qualify as “accredited
investors,” as such term is defined in Rule 501 of Regulation D. The Placement Agent has no obligation to purchase any of
the Securities or sell any Securities. Unless sooner terminated in accordance with this Agreement, the engagement of the Placement
Agent hereunder shall continue until the later of the Termination Date or the Final Closing (as defined below). The Offering will
raise a minimum of gross proceeds of five hundred thousand dollars ($500,000) (the “Minimum Offering Amount”) and
a maximum of gross proceeds of ten million dollars ($10,000,000) (the “Maximum Offering Amount”) through the sale
of shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”), at the Purchase Price
of $5.00 per share (the “Offering Price”). The minimum subscription is
twenty five thousand dollars ($25,000) (5,000 shares), provided, however, that subscriptions in lesser amounts may be accepted
by the Company in its sole discretion.

 

    	Placement Agency Agreement (PIPE)
	Page 1

     

    

 

(b)          Placement
of the Securities by the Placement Agent will be made on a reasonable best efforts basis. The Company agrees and acknowledges that
the Placement Agent is not acting as an underwriter with respect to the Offering and the Company shall determine the purchasers
in the Offering in its sole discretion The Shares will be offered by the Company to potential subscribers, which may include related
parties of the Placement Agent or the Company, commencing on December 2, 2016 through January 9, 2017 (the “Initial Offering
Period”), which date may be extended by the Company in its sole discretion (this additional period, if any, and the Initial
Offering Period shall be referred to as the “Offering Period”). The date on which the Offering is terminated shall
be referred to as the “Termination Date”. The closing of the Offering may be held up to ten days after the Termination
Date.

 

(c)          The
Company shall only offer securities to and accept subscriptions from or sell Securities to, persons or entities that qualify as
(or are reasonably believed to be) “accredited investors,” as such term is defined in Rule 501(a) of Regulation D (“Regulation
D”) as promulgated by the United States Securities and Exchange Commission (the “SEC”) under Section 4(a)(2)
of the Securities Act of 1933, as amended (the “Act”).

 

(d)          The
offering of Securities will be made by the Placement Agent on behalf of the Company solely pursuant to the Company’s standard
subscription agreement and the exhibits to the Subscription Agreement (collectively, the “Subscription Agreement”),
including, but not limited to, and to the extent applicable, a Registration Rights Agreement and any documents, agreements, supplements
and additions thereto (collectively, the “Subscription Documents”), which at all times will be in form and substance
reasonably acceptable to the Company and contain such legends and other information as the Company may, from time to time, deem
necessary and desirable to be set forth therein.

 

(e)          With
respect to the Offering, the Company shall provide the Placement Agent, on terms set forth herein, the right to offer and sell
all of the available Securities being offered during the Offering Period, to any prospective subscriber as set forth in Section
1(c) above and to certain institutional investors. It is understood that no sale shall be regarded as effective unless and until
accepted by the Company. The Company may, in its sole discretion, accept or reject, in whole or in part, any prospective investment
in the Securities or allot to any prospective subscriber less than the number of Securities that such subscriber desires to purchase.
Purchases of Securities may be made by the Placement Agent and its selected sub-dealers and their respective officers, directors,
employees and affiliates and by the officers, directors, employees and affiliates of the Company for the Offering and such purchases
will be made by the Placement Agent and its selected sub-dealers and their respective officers, directors, employees and affiliates
and by the officers, directors, employees and affiliates of the Company based solely upon the same information that is provided
to the investors in the Offering.

 

B.           Representations,
Warranties and Covenants.

 

(a)          The
Company represents and warrants to the Placement Agent that all Subscription Documents will be materially complete and correct.
The Company further represents and warrants that any projections provided by it to the Placement Agent will have been prepared
in good faith and will be based upon assumptions, which, in light of the circumstances under which they are made, are reasonable.
The Company recognizes and confirms that the Placement Agent (i) will use and rely primarily on the Subscription Documents and
on information available from generally recognized public sources in performing the services contemplated by this Agreement without
having independently verified the same; (ii) is authorized to transmit to any prospective investor the Subscription Documents and
other legal documentation supplied to the Placement Agent for transmission to parties that have entered into a customary form of
confidentiality agreement by or on behalf of the Company; (iii) does not assume responsibility for the accuracy or completeness
of the Subscription Documents and such other information; (iv) will not make an appraisal of the Company; and (v) retains the right
to continue to perform due diligence during the course of its engagement under this Agreement to the extent that it is reasonably
necessary for it to perform the services contemplated hereby (it being understood that the Placement Agent will not be authorized
to act as an initial purchaser or underwriter but will merely be acting as a placement agent without underwriter liability under
the Securities Act of 1933).

 

    	Placement Agency Agreement (PIPE)
	Page 2

     

    

 

(b)          The
Subscription Documents have been and/or will be prepared by the Company, in conformity with all materially applicable laws, and
in compliance with Regulation D and/or Section 4(a)(2) of the Act and the requirements of all other rules and regulations (the
“Regulations”) of the SEC relating to offerings of the type contemplated by the Offering, and the applicable securities
laws and the rules and regulations of those jurisdictions wherein the Placement Agent notifies the Company that the Securities
are to be offered and sold (including U.S. states). The Securities will be offered and sold pursuant to the registration exemption
provided by Regulation D and/or Section 4(a)(2) of the Act as a transaction not involving a public offering and the requirements
of any other applicable state securities laws and the respective rules and regulations thereunder in those United States jurisdictions
in which the Placement Agent notifies the Company that the Securities are being offered for sale.

 

(c)          There
is no fact which the Company has not disclosed in the Subscription Documents or which is not disclosed in the filings (the “SEC
Filings”) that the Company makes with the SEC and of which the Company is aware that materially adversely affects or that
could reasonably be expected to have a material adverse effect on the (i) assets, liabilities, results of operations, condition
(financial or otherwise), business or business prospects of the Company or (ii) ability of the Company to perform its obligations
under this Agreement and the other Subscription Documents (the “Company Material Adverse Effect”).

 

(d)          The
Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada and is qualified
and in good standing as a foreign corporation in each jurisdiction in which the nature of the business conducted by the Company
or the property owned or leased by the Company requires such qualification, except to the extent that the failure to be so qualified
or be in good standing would not have a Company Material Adverse Effect. The Company has all requisite corporate power and authority
to conduct its business as presently conducted and as proposed to be conducted (as described in the Subscription Documents and/or
the SEC Filings), has all the necessary and requisite documents and approvals from all state authorities, has all requisite corporate
power and authority to enter into and perform its obligations under this Agreement, the Securities Purchase Agreement substantially
in the form made part of the Subscription Documents (the “Securities Purchase Agreement”), the Registration Rights
Agreement substantially in the form made part of the Subscription Documents (the “Registration Rights Agreement”),
and the other agreements, if any, contemplated by the Offering (this Agreement, Securities Purchase Agreement, the Registration
Rights Agreement and the other agreements contemplated hereby that the Company is required to execute and deliver are collectively
referred to herein as the “Company Transaction Documents”) and subject to necessary Board and stockholder approvals,
to issue, sell and deliver the Shares and the shares of Common Stock issuable upon exercise of the Brokers’ Warrant (as hereinafter
defined) (the shares of Common Stock issuable upon exercise of the Brokers’ Warrant referred to as the “Brokers’
Warrant Shares”) and to make the representations in this Agreement accurate and not misleading. Prior to the First Closing,
as defined under Section 3(e), each of the Company Transaction Documents and the Offering will have been duly authorized. This
Agreement has been duly authorized, executed and delivered and constitutes, and each of the other Company Transaction Documents,
upon due execution and delivery, will constitute, valid and binding obligations of the Company, enforceable against the Company
in accordance with their respective terms (i) except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or other similar laws now or hereafter in effect related to laws affecting creditors’ rights generally, including
the effect of statutory and other laws regarding fraudulent conveyances and preferential transfers, and except that no representation
is made herein regarding the enforceability of the Company’s obligations to provide indemnification and contribution remedies
under the securities laws and (ii) subject to the limitations imposed by general equitable principles (regardless of whether such
enforceability is considered in a proceeding at law or in equity).

 

    	Placement Agency Agreement (PIPE)
	Page 3

     

    

 

(e)          The
Articles of Incorporation and By-laws of the Company are true, correct and complete copies of the certificate of incorporation
and bylaws of the Company, as in effect on the date hereof. The Company is not: (i) in violation of its Articles of Incorporation
or By-Laws; (ii) in default of any contract, indenture, mortgage, deed of trust, note, loan agreement, security agreement, lease,
alliance agreement, joint venture agreement or other agreement, license, permit, consent, approval or instrument to which the Company
is a party or by which it is or may be bound or to which any of its assets may be subject, the default of which could reasonably
be expected to have a Company Material Adverse Effect; (iii) in violation of any statute, rule or regulation applicable to the
Company, the violation of which would have a Company Material Adverse Effect; or (iv) in violation of any judgment, decree or order
of any court or governmental body having jurisdiction over the Company and specifically naming the Company, which violation or
violations individually, or in the aggregate, could reasonably be expected to have a Company Material Adverse Effect.

 

(f)          Immediately
prior to the First Closing, the Shares, the Brokers’ Warrant and the Brokers’ Warrant Shares will have been duly authorized
and, when issued and delivered against payment therefor as provided in the Company Transaction Documents, will be validly issued,
fully paid and nonassessable. No holder of any of the Shares or Brokers’ Warrant Shares will be subject to personal liability
solely by reason of being such a holder, and except as described in the Subscription Documents, none of the Shares, Brokers’
Warrant or Brokers’ Warrant Shares will be subject to preemptive or similar rights of any stockholder or security holder
of the Company or an adjustment under the antidilution or exercise rights of any holders of any outstanding shares of capital stock,
options, warrants or other rights to acquire any securities of the Company. Immediately prior to the Closing, a sufficient number
of authorized but unissued shares of Common Stock will have been reserved for issuance upon the exercise of the Brokers’
Warrants.

 

(g)          No
consent, authorization or filing of or with any court or governmental authority is required in connection with the issuance or
the consummation of the transactions contemplated herein or in the other Company Transaction Documents, except for required filings
with the SEC and the applicable state securities commissions relating specifically to the Offering (all of which filings will be
duly made by, or on behalf of, the Company), and those which are required to be made after the Closing (all of which will be duly
made on a timely basis).

 

    	Placement Agency Agreement (PIPE)
	Page 4

     

    

 

(h)          Neither
the sale of the Securities by the Company nor its use of the proceeds thereof will violate the Trading with the Enemy Act, as amended,
nor any of the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended)
or any enabling legislation or executive order relating thereto. Without limiting the foregoing, the Company is not (a) a person
whose property or interests in property are blocked pursuant to Section 1 of Executive Order 13224 of September 23, 2001 Blocking
Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism (66 Fed. Reg. 49079 (2001))
or (b) a person who engages in any dealings or transactions, or be otherwise associated, with any such person. The Company and
its subsidiaries, if any, are in compliance, in all material respects, with the USA Patriot Act of 2001 (signed into law October
26, 2001). Each of the Company, its affiliates and any of their respective officers, directors, supervisors, managers, agents,
or employees, has not violated, its participation in the offering will not violate, and the Company has instituted and maintains
policies and procedures designed to ensure continued compliance with, each of the following laws: (a) anti-bribery laws, including
but not limited to, any applicable law, rule, or regulation of any locality, including but not limited to any law, rule, or regulation
promulgated to implement the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions,
signed December 17, 1997, including the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any other law, rule or regulation
of similar purposes and scope, (b) anti-money laundering laws, including but not limited to, applicable federal, state, international,
foreign or other laws, regulations or government guidance regarding anti-money laundering, including, without limitation, Title
18 US. Code section 1956 and 1957, the Bank Secrecy Act, and international anti-money laundering principles or procedures by an
intergovernmental group or organization, such as the Financial Action Task Force on Money Laundering, of which the United States
is a member and with which designation the United States representative to the group or organization continues to concur, all as
amended, and any Executive order, directive, or regulation pursuant to the authority of any of the foregoing, or any orders or
licenses issued thereunder or (c) laws and regulations imposing U.S. economic sanctions measures, including, but not limited to,
the International Emergency Economic Powers Act, the United Nations Participation Act and the Syria Accountability and Lebanese
Sovereignty Act, all as amended, and any Executive Order, directive, or regulation pursuant to the authority of any of the foregoing,
including the regulations of the United States Treasury Department set forth under 31 CFR, Subtitle B, Chapter V, as amended, or
any orders or licenses issued thereunder. Neither the Company nor any director, officer, agent, employee or other person acting
on behalf of the Company has, in the course of its actions for, or on behalf of, the Company (i) used any corporate funds for any
unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect
unlawful payment to any foreign or domestic government official or employee from corporate funds; or (iii) made any unlawful bribe,
rebate, payoff, influence payment, kickback or other unlawful payment to any foreign or domestic government official or employee.

 

(i)          The
authorized capital stock of the Company as of the Closing will be set forth in the Securities Purchase Agreement. All issued and
outstanding shares of capital stock have been duly authorized and validly issued, are fully paid and nonassessable, were not issued
in violation of any preemptive rights or similar rights to subscribe for or purchase securities, and, except as disclosed in the
Company’s SEC Filings, have been issued and sold in compliance with the registration requirements of federal and state securities
laws or the applicable statutes of limitation have expired. Except as set forth in the Securities Purchase Agreement and the Company’s
SEC Filings, there are no (i) outstanding rights (including, without limitation, preemptive rights), warrants or options to acquire,
or instruments convertible into or exchangeable for, any unissued shares of capital stock or other equity interest in the Company,
or any contract, commitment, agreement, understanding or arrangement of any kind to which the Company or its subsidiaries is a
party and relating to the issuance or sale of any capital stock or convertible or exchangeable security of the Company; or (ii)
obligations of the Company to purchase redeem or otherwise acquire any of its outstanding capital stock or any interest therein
or to pay any dividend or make any other distribution in respect thereof.

 

(j)          None
of Company, any of its predecessors, any affiliated issuer, any director, executive officer, other officer of the Company participating
in the Offering, any beneficial owner of 20% or more of the Company’s outstanding voting equity securities, calculated on
the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities Act) connected with the Company
in any capacity at the time of sale (each, an “Issuer Covered Person” and, together, “Issuer Covered Persons”)
is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i)–(viii) under the Securities
Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) or has been
involved in any matter which would be a Disqualification Event except for the fact that it occurred before September 23, 2013.
The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.
The Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the
Placement Agents a copy of any disclosures provided thereunder.

 

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(k)          The
Company is not aware of any person (other than any Issuer Covered Person or Placement Agent Covered Person (as defined below) that
has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with the sale of any
the Securities. For purposes of this subsection “Placement Agent Covered Person” shall mean Katalyst Securities LLC,
or any of its directors, executive officers, general partners, managing members or other officers participating in the Offering.

 

(l)          The
Company will notify the Placement Agent in writing, prior to the Closing Date of (i) any Disqualification Event relating to any
Issuer Covered Person and (ii) any event that would, with the passage of time, become a Disqualification Event relating to any
Issuer Covered Person.

 

(m)          The
Company is in compliance in all material respects with any and all applicable requirements of the Sarbanes-Oxley Act of 2002 that
are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the SEC thereunder that are
effective as of the date hereof.

 

(n)          The
Company acknowledges that the Placement Agent, any sub agents, legal counsel to the Company and/or their respective affiliates,
principles, representatives or employees may now or hereafter own shares of the Company.

 

C.           Representations,
Warranties and Covenants of Katalyst.

 

The Placement Agent
hereby represents and warrants to the Company that the following representations and warranties are true and correct as of the
date of this Agreement:

 

(a)          The
Placement Agent represents that neither it, nor to its knowledge any of its Sub-Agents or any of its or their respective directors,
executive officers, general partners, managing members or other officers participating in the Offering (each, a “Katalyst
Covered Person” and, together, “Katalyst Covered Persons”), is subject to any of the “Bad Actor”
disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”)
or has been involved in any matter which would be a Disqualification Event except for the fact that it occurred before September
23, 2013.

 

(b)          The
Placement Agent will notify the Company promptly in writing of any Disqualification Event relating to any Katalyst Covered Person
not previously disclosed to the Company in accordance with section 1C(a) above.

 

2.           Placement
Agent Compensation.

 

(a)          In
connection with the Offering, the Company will pay a cash fee (the “Broker Cash Fee”) to the Placement Agent at each
Closing equal to (i) 8% of each Closing’s gross proceeds of an amount up to $3,000,000 from any sale of Securities in the
Offering during the Term to investors first contacted by the Placement Agent in connection with the Offering, or (ii) if gross
proceeds exceed $3,000,000, then 10% of each Closing’s gross proceeds for amounts from the sale of Securities in the Offering
during the Term to investors first contacted by the Placement Agent in connection with the Offering. The Broker Cash Fee shall
be paid to the Placement Agent in cash by wire transfer from the escrow account established for the Offering, and as a condition
to closing, simultaneous with the distribution of funds to the Company.

 

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(b)          Also,
at each Closing, the Company will deliver to the Placement Agent (or its designees), warrants to purchase shares of the Company’s
Common Stock, equal, in the aggregate, to 10% of the number of Securities sold in the Offering on which the Placement Agent receives
compensation pursuant to Section 2(a), which warrants shall have an initial exercise price equal to the price per share of the
Securities (“Brokers’ Warrants”). The Brokers’ Warrants will be issued on the Company’s standard
warrant documents at the time of issuance and shall have a term of five-years, and contain cashless exercise provisions and piggyback
registration rights, providing the Placement Agent with the right to purchase one share of the Company’s common stock per
warrant with an exercise price equal to the exercise price received by participating investors in the transaction. The warrants
and the shares issuable upon exercise of the warrants may constitute restricted shares and may contain restrictive legends indicating
such restrictions; provided, however, that the warrants and shares issuable shall contain piggyback registration rights requiring
their inclusion with any registration statement filed by the Company. In the event no registration statement is filed, the Company’s
counsel shall be responsible for drafting and executing the Rule 144 comfort letter (and any other required paperwork as required
by the transfer agent), at the Company’s expense, providing for the sale of such underlying shares. To the extent permitted
by applicable laws, all warrants shall permit unencumbered transfer to the Placement Agent’s employees and affiliates and
the warrants may be issued directly to the Placement Agent’s employees and affiliates at the Placement Agent’s request.
The Broker Cash Fee and the Brokers’ Warrant are sometimes referred to collectively as the “Brokers’ Fees”).
The Brokers’ Warrant issued by the Company to each Placement Agent for participating in this Offering shall be identical
in all terms.

 

(c)          To
the extent there is more than one Closing, payment of the proportional amount of the Broker Cash Fees will be made out of the gross
proceeds from any sale of Securities sold at each Closing and the Company will issue to the Placement Agent the corresponding number
of Brokers’ Warrants. All cash compensation and warrants under this Agreement shall be paid directly by the Company to and
in the name provided to the Company by the Placement Agent.

 

(d)          Provided
that an Offering is consummated during the Offering Period, the Placement Agent shall be entitled to the Broker Cash Fee and Brokers’
Warrants, calculated in the manner provided in this Section 2 with respect to any subsequent public or private offering or other
financing or capital-raising transaction of any kind (“Subsequent Financing”) to the extent that such financing or
capital is provided the Company, or to any Company Affiliate (as defined below), by either (i) investors whom the Placement Agent
had Introduced (as defined below), directly or indirectly, to the Company during the Offering Period if such Subsequent Financing
is consummated at any time within the three (3) month period following the earlier of expiration or termination of this Agreement
or the closing of the Offering, if an Offering is consummated, or (ii) investors whom the Placement Agent had Introduced, directly
or indirectly, to the Company during the Offering Period and who actually participated in the Offering, if such Subsequent Financing
is consummated at any time within the six (6) month period following the earlier of expiration or termination of this Agreement
or the closing of the Offering. Within five (5) business days of the closing of the Offering, Katalyst shall provide to the Company
a list of investors, in the form of an Annex A to this Agreement, who either (i) participated in the Offering or (ii) were Introduced
to the Company by the Placement Agent. A “Company Affiliate” shall mean any individual or entity controlling, controlled
by or under common control with such entity and any officer, director, employee, stockholder, partner, member or agent of such
entity. “Introduced” shall mean that the Company was made known to an investor for the first time and such investor
met with the Company and/or had a conversation with the Company either in person or via telephone regarding the Offering.

 

3.           Subscription
and Closing Procedures.

 

(a)          The
Company shall cause to be delivered to the Placement Agent copies of the Subscription Documents and has consented, and hereby consents,
to the use of such copies for the purposes permitted by the Act and applicable securities laws and in accordance with the terms
and conditions of this Agreement, and hereby authorizes the Placement Agent and its agents and employees to use the Subscription
Documents in connection with the sale of the Securities until the earlier of (i) the Termination Date or (ii) the Final Closing,
and no person or entity is or will be authorized to give any information or make any representations other than those contained
in the Subscription Documents or to use any offering materials other than those contained in the Subscription Documents in connection
with the sale of the Securities, unless the Company first provides the Placement Agent with notification of such information, representations
or offering materials.

 

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(b)          The
Company shall make available to the Placement Agent and its representatives such information, including, but not limited to, financial
information, and other information regarding the Company (the “Information”), as may be reasonably requested in making
a reasonable investigation of the Company and its affairs. The Company shall provide access to the officers, directors, employees,
independent accountants, legal counsel and other advisors and consultants of the Company as shall be reasonably requested by the
Placement Agent. The Company recognizes and agrees that the Placement Agent (i) will use and rely primarily on the Information
and generally available information from recognized public sources in performing the services contemplated by this Agreement without
independently verifying the Information or such other information, (ii) does not assume responsibility for the accuracy of the
Information or such other information, and (iii) will not make an appraisal of any assets or liabilities owned or controlled by
the Company or its market competitors.

 

(c)          Each
prospective purchaser will be required to complete and execute the Subscription Documents, Anti-Money Laundering Form, Accredited
Investor Certification and other documents which will be forwarded or delivered to the Placement Agent at the Placement Agent’s
offices at the address set forth in Section 12 hereof or to an address identified in the Subscription Documents.

 

(d)          Simultaneously
with the delivery to the Placement Agent of the Subscription Documents, the subscriber’s check or other good funds will be
forwarded directly by the subscriber to the escrow agent and deposited into a non interest bearing escrow account (the “Escrow
Account”) established for such purpose (the “Escrow Agent”). All such funds for subscriptions will be held in
the Escrow Account pursuant to the terms of an escrow agreement among the Company, the Placement Agent and the Escrow Agent. The
Company will pay all fees related to the establishment and maintenance of the Escrow Account. Subject to the receipt of subscriptions
for the amount for Closing, the Company will either accept or reject, for any or no reason, the Subscription Documents in a timely
fashion and at each Closing will countersign the Subscription Documents and provide duplicate copies of such documents to the Placement
Agent for distribution to the subscribers. The Company will give notice to the Placement Agent of its acceptance of each subscription.
The Company, or the Placement Agent on the Company’s behalf, will promptly return to subscribers incomplete, improperly completed,
improperly executed and rejected subscriptions and give written notice thereof to the Placement Agent upon such return.

 

(e)          If
subscriptions for at least the Minimum Offering Amount for Closing have been accepted prior to the Termination Date, the funds
therefor have been collected by the Escrow Agent and all of the conditions set forth elsewhere in this Agreement are fulfilled,
a closing shall be held promptly with respect to the Securities sold (the “First Closing”). Thereafter, the remaining
Securities will continue to be offered and sold until the earlier of the Termination Date or the date that additional subscription
amounts up to the Maximum Offering amount have been collected by the Escrow Agent. Additional Closings (each a “Closing”,
collectively “Closings”) may from time to time be conducted at times mutually agreed to between the Company and the
Placement Agent with respect to additional Securities sold, with the final closing (“Final Closing”) to occur within
10 days after the earlier of the Termination Date and the date on which the Maximum Offering Amount has been subscribed for. Delivery
of payment for the accepted subscriptions for the Securities from the funds held in the Escrow Account will be made at each Closing
at the Placement Agent’s offices against delivery of the Securities by the Company at the address set forth in Section 10
hereof (or at such other place as may be mutually agreed upon between the Company and the Placement Agent), net of amounts agreed
upon by the parties herein, including, the blue sky counsel as of such Closing. Executed certificates for the shares of Common
Stock and the Brokers’ Warrants will be in such authorized denominations and registered in such names as the Placement Agent
may request on or before the date of each Closing (“Closing Date”). The certificates will be forwarded to the subscriber
directly by the stock transfer agent as soon as practicable following each Closing. At each Closing, the Company will (i) deliver
irrevocable issuance instruction to its stock transfer agent for the issuance of certificates representing the shares of Common
Stock being sold, and (ii) issue and deliver the applicable Brokers’ Warrants.

 

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(f)          If
Subscription Documents for the Minimum Offering Amount for Closing have not been received and accepted by the Company on or before
the Termination Date for any reason, the Offering will be terminated, no Securities will be sold, and the Escrow Agent will, at
the request of the Placement Agent, cause all monies received from subscribers for the Securities to be promptly returned to such
subscribers without interest, penalty, expense or deduction.

 

4.           Further
Covenants.

 

The Company hereby
covenants and agrees that:

 

(a)          The
Company shall comply with the Act, the Exchange Act of 1934, as amended, the rules and regulations thereunder, all applicable state
securities laws and the rules and regulations thereunder in the states in which the Company’s blue sky counsel has advised
the Placement Agent and/or the Company that the Securities are qualified or registered for sale or exempt from such qualification
or registration, so as to permit the continuance of the sales of the Securities.

 

(b)          The
Company, at its own cost and expense, shall use reasonable best efforts to qualify the Securities for sale under the securities
laws of such jurisdictions in the United States as may be mutually agreed to by the Company and the Placement Agent, and the Company
will make or cause to be made such applications and furnish information as may be required for such purposes, provided that the
Company will not be required to qualify as a foreign corporation in any jurisdiction or execute a general consent to service of
process.

 

(c)          The
Company shall place a legend on the certificates representing the shares of the Common Stock and the Brokers’ Warrants that
the securities evidenced thereby have not been registered under the Act or applicable state securities laws, setting forth or referring
to the applicable restrictions on transferability and sale of such securities under the Act and applicable state laws.

 

(d)          The
Company shall apply the net proceeds from the sale of the Securities for the purposes set forth in the Subscription Documents.

 

(e)          During
the Offering Period, the Company shall afford each prospective purchaser of Securities the opportunity to ask questions of and
receive answers from an officer of the Company concerning the terms and conditions of the Offering and the opportunity to obtain
such other additional information necessary to verify the accuracy of the Subscription Documents to the extent the Company possesses
such information or can acquire it without unreasonable expense.

 

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(f)          Whether
or not the transactions contemplated hereby are consummated, or this Agreement is terminated, the Company shall pay all reasonable
expenses incurred in connection with the preparation and printing of all necessary offering documents and instruments related to
the Offering and the issuance of the Common Stock and the Brokers’ Warrants and will also pay for the Company’s expenses
for accounting fees, legal fees, printing costs, and other costs involved with the Offering. The Company will provide at its own
expense such quantities of the Subscription Documents and other documents and instruments relating to the Offering as the Placement
Agent may reasonably request. The Company will pay at its own expense in connection with the creation, authorization, issuance,
transfer and delivery of the Securities, including, without limitation, fees and expenses of any transfer agent or registrar; the
fees and expenses of the Escrow Agent; all fees and expenses of legal, accounting and other advisers to the Company; the registration
or qualification of the Securities for offer and sale under the securities or blue sky laws of such jurisdictions, payable within
five (5) days of being invoiced. The Company will pay all such amounts, unless previously paid, at the First Closing, or, if there
is no Closing, within ten (10) days after written request therefor following the Termination Date. In addition to any fees payable
to the Placement Agent hereunder, the Company hereby agrees to promptly reimburse Katalyst for its non accountable legal counsel
fees (“Placement Agent Counsel Fee”) in the amount of Ten Thousand Dollars ($10,000) provided that the Placement Agent
participates in the Offering and the Company receives gross proceeds of at least $100,000 from offers and sales of securities placed
by the Placement Agent under this Agreement, paid directly from the escrow account at the time of the first Closing from gross
proceeds raised by the Placement Agent. If there is no Closing of the Offering that the Placement Agent participates in, then the
Company agrees to pay the Placement Agent Counsel Fee within five (5) days of written request to the Company by wire transfer to
the provided banking coordinates. The Placement Agent will be responsible for its own out-of-pocket expenses incurred in performing
the services described herein, unless the Company agrees. This reimbursement obligation is in addition to the reimbursement of
fees and expenses relating to attendance by the Placement Agent at proceedings or to indemnification and contribution as contemplated
elsewhere in this agreement. In the event the Placement Agent’s personnel must attend or participate in judicial or other
proceedings to which we are not a party relating to the subject matter of this agreement, the Company shall pay the Placement Agent
an additional per diem payment, per person, at its customary rates, together with reimbursement of all out-of-pocket expenses and
disbursements, including reasonable attorneys’ fees and disbursements incurred by it in respect of its preparation for and
participation in such proceedings. The Placement Agent’s legal counsel fees do not include the registration legal fees and
expenses for the blue sky and other regulatory filings to be made in connection with the Offering(s).

 

(g)          On
each Closing Date, the Company permits the Placement Agent to rely on any representations and warranties made by the Company to
the investors and will cause its counsel to permit the Placement Agent to rely upon any opinion furnished to the investors in the
Private Placement.

 

(h)          The
Company will comply with all of its obligations and covenants set forth in its agreements with the investors in the Offering. If
not filed on EDGAR, the Company will promptly deliver to the Placement Agent copies of any and all filings with the SEC and each
amendment or supplement thereto, as well as all prospectuses and free writing prospectuses, prior to the closing of the Offering
and six months thereafter. The Placement Agent is authorized on behalf of the Company to use and distribute copies of any Subscription
Documents, including Company’s SEC Filings in connection with the sale of the Securities as, and to the extent, permitted
by federal and applicable state securities laws. The Company acknowledges and agrees that the Placement Agent will be relying,
without assuming responsibility for independent verification, on the accuracy and completeness of all financial and other information
that is and will be furnished to them by the Company and the Company will be liable for any material misstatements or omissions
contained therein.

 

(i)          Except
with the prior written consent of the Placement Agent, the Company shall not, at any time prior to the earlier of the Final Closing
or the Termination Date, except as contemplated by the Subscription Documents (i) engage in or commit to engage in any transaction
outside the ordinary course of business as described in the Subscription Documents, (ii) issue, agree to issue or set aside for
issuance any securities (debt or equity) or any rights to acquire any such securities, (iii) incur, outside the ordinary course
of business, any material indebtedness, (iv) dispose of any material assets, (v) make any material acquisition or (vi) change its
business or operations in any material respect.

 

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5.           Conditions
of Placement Agent’s Obligations.

 

The obligations of
the Placement Agent hereunder to affect a Closing are subject to the fulfillment, at or before each Closing, of the following additional
conditions:

 

(a)          Each
of the representations and warranties made by the Company shall be true and correct on each Closing Date.

 

(b)          The
Company shall have performed and complied in all material respects with all agreements, covenants and conditions required to be
performed and complied with by it at or before the Closing.

 

(c)          The
Subscription Documents do not, and as of the date of any amendment or supplement thereto will not, include any untrue statement
of a material fact or omit to state any material fact necessary in order to make the statements therein, in light of the circumstances
under which they were made, not misleading.

 

(d)          No
order suspending the use of the Subscription Documents or enjoining the Offering or sale of the Securities shall have been issued,
and no proceedings for that purpose or a similar purpose shall have been initiated or pending, or, to the best of the Company’s
knowledge, be contemplated or threatened.

 

(e)          No
holder of any of the Securities from the Offering will be subject to personal liability solely by reason of being such a holder,
and except as described in the Subscription Documents, none of the Company’s shares of Common Stock and Brokers’ Warrant
Shares will be subject to preemptive or similar rights of any stockholder or security holder of the Company, or an adjustment under
the antidilution or exercise rights of any holders of any outstanding shares of capital stock, membership units, options, warrants
or other rights to acquire any securities of the Company.

 

(f)          There
shall have been no material adverse change nor development involving a prospective change in the financial condition, operations
or projects of the Company, except where such change would not have a Company Material Adverse Effect on the business activities,
financial or otherwise, results of operations or prospects of the Company, taken individually or in the aggregate.

 

(g)          At
each Closing, the Company shall have (i) paid to the Placement Agent the Broker Cash Fee in respect of all Securities sold
at such Closing, (ii) executed and delivered to the Placement Agent the Brokers’ Warrants in respect of all Securities
sold at such Closing, and (iii) paid all fees, costs and expenses as set forth in Section 4(f) hereof.

 

(h)          There
shall have been delivered to the Placement Agent a signed opinion of counsel to the Company, containing such legal opinions as
are customarily delivered in similar transactions, dated as of the initial Closing Date.

 

(i)          All
proceedings taken at or prior to the Closing in connection with the authorization, issuance and sale of the Common Stock and the
Brokers’ Warrants will be reasonably satisfactory in form and substance to the Placement Agent, and the Placement Agent shall
have been furnished with all such documents, certificates and opinions as it may reasonably request upon reasonable prior notice
in connection with the transactions contemplated hereby.

 

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(j)          If
in connection with the Offering, the Placement Agent determines that they or the Company would be required to make a filing with
the FINRA to enable the Placement Agent to act as agent in the Offering, the Company will do the following: The Company will reasonably
cooperate with the Placement Agent with respect to all FINRA filings that the Company or the Placement Agent may be required to
make and provide all information and documentation necessary to make the filings in a timely manner.

 

(k)          The
Company agrees and understands that this Agreement in no way constitutes a guarantee that the Offering will be successful. The
Company acknowledges that the Company is ultimately responsible for the successful completion of a transaction.

 

6.           Conditions
of the Company’s Obligations.

 

The obligations of
the Company hereunder are subject to the satisfaction of each of the following conditions:

 

(a)          The
satisfaction or waiver of all conditions to Closing as set forth herein.

 

(b)          As
of each Closing, each of the representations and warranties made by Placement Agent herein being true and correct as of the Closing
Date for such Closing.

 

(c)          At
each Closing, the Company shall have received the proceeds from the sale of the Securities that are part of such Closing less applicable
Broker Fees and other deductions contemplated by this Agreement.

 

(d)          At
each Closing, the Company shall have received a copy of Subscription Documents signed by investors delivered by the Placement Agent.

 

7.           Indemnification.

 

(a)          The
Company will: (i) indemnify and hold harmless the Placement Agent, its agents and its officers, directors, employees, agents, selected
dealers and each person, if any, who controls the Placement Agent within the meaning of the Act and such agents (each an “Indemnitee”
or a “Placement Agent Party”) against, and pay or reimburse each Indemnitee for, any and all losses, claims, damages,
liabilities or expenses whatsoever (or actions or proceedings or investigations in respect thereof (collectively, “Proceedings”),
joint or several (which will, for all purposes of this Agreement, include, but not be limited to, all reasonable costs of defense
and investigation and all reasonable attorneys’ fees, including appeals), to which any Indemnitee may become subject (a)
under the Act or otherwise, in connection with the offer and sale of the Securities and (b) as a result of the breach of any representation,
warranty or covenant made by the Company herein or the failure of the Company to perform its obligations under the Agreement, regardless
of whether such losses, claims, damages, liabilities or expenses shall result from any claim by any Indemnitee or by any third
party; and (ii) reimburse each Indemnitee for any legal or other expenses reasonably incurred in connection with investigating
or defending against any such loss, claim, action, proceeding or investigation; provided, however, the Company will not be liable
in any such case to the extent that any such claim, damage or liability of the Placement Agent is to have resulted from the gross
negligence or willful misconduct of the Placement Agent or its officers, employees or agents. In addition to the foregoing agreement
to indemnify and reimburse, the Company will indemnify and hold harmless each Indemnitee against any and all losses, claims, damages,
liabilities or expenses whatsoever (or actions or proceedings or investigations in respect thereof), joint or several (which shall,
for all purposes of this Agreement, include, but not be limited to, all reasonable costs of defense and investigation and all reasonable
attorneys’ fees, including appeals) to which any Indemnitee may become subject insofar as such costs, expenses, losses, claims,
damages or liabilities arise out of or are based upon the claim of any person or entity that he or it is entitled to broker’s
or finder’s fees from any Indemnitee in connection with the Offering as a result of the Company obligating itself or any
Indemnitee to pay such a fee, other than fees due to the Placement Agent, its dealers, sub-agents or finders. The foregoing indemnity
agreements will be in addition to any liability the Company may otherwise have. The Indemnitees are intended third party beneficiaries
of this provision.

 

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(b)          Promptly
after receipt by an indemnified party under this Section 7 of notice of the commencement of any action, claim, proceeding or investigation
(the “Action”), such indemnified party, if a claim in respect thereof is to be made against the indemnifying party
under this Section 7, will notify the indemnifying party of the commencement thereof, but the omission to so notify the indemnifying
party will not relieve it from any liability that it may have to any indemnified party under this Section 7 unless the indemnifying
party has been substantially prejudiced by such omission. The indemnifying party will be entitled to participate in and, to the
extent that it may wish, jointly with any other indemnifying party, to assume the defense thereof subject to the provisions herein
stated, with counsel reasonably satisfactory to such indemnified party. The indemnified party will have the right to employ separate
counsel in any such Action and to participate in the defense thereof, but the fees and expenses of such counsel will not be at
the expense of the indemnifying party if the indemnifying party has assumed the defense of the Action with counsel reasonably satisfactory
to the indemnified party, provided, however, that if the indemnified party shall be requested by the indemnifying party to participate
in the defense thereof or shall have concluded in good faith and specifically notified the indemnifying party either that there
may be specific defenses available to it that are different from or additional to those available to the indemnifying party or
that such Action involves or could have a material adverse effect upon it with respect to matters beyond the scope of the indemnity
agreements contained in this Agreement, then the counsel representing it, to the extent made necessary by such defenses, shall
have the right to direct such defenses of such Action on its behalf and in such case the reasonable fees and expenses of such counsel
in connection with any such participation or defenses shall be paid by the indemnifying party. No settlement of any Action against
an indemnified party will be made without the consent of the indemnifying party and the indemnified party, which consent shall
not be unreasonably withheld or delayed in light of all factors of importance to such party, and no indemnifying party shall be
liable to indemnify any person for any settlement of any such claim effected without such indemnifying party’s consent. Notwithstanding
the immediately preceding sentence, if at any time an indemnified party requests the indemnifying party to reimburse the indemnified
party for legal or other expenses in connection with investigating, responding to or defending any Proceedings as contemplated
by this indemnity agreement, the indemnifying party will be liable for any settlement of any Proceedings effected without its written
consent if (i) the proposed settlement is entered into more than 30 days after receipt by the indemnifying party of the request
for reimbursement, (ii) the indemnifying party has not reimbursed the indemnified party within 30 days of such request for reimbursement,
(iii) the indemnified party delivered written notice to the indemnifying party of its intention to settle and the failure to pay
within such 30 day period, and (iv) the indemnifying party does not, within 15 days of receipt of the notice of the intention to
settle and failure to pay, reimburse the indemnified party for such legal or other expenses and object to the indemnified party’s
seeking to settle such Proceedings.

 

8.           Termination.

 

(a)          The
Offering may be terminated by the Placement Agent at any time prior to the expiration of the Offering Period in the event that:
(i) any of the representations, warranties or covenants of the Company contained herein or in the Subscription Documents shall
prove to have been false or misleading in any material respect when actually made; (ii) the Company shall have failed to perform
any of its material obligations hereunder or under any other Company Transaction Document or any other transaction document; (iii)
there shall occur any event, within the control of the Company that is reasonably likely to materially and adversely affect the
transactions contemplated hereunder or the ability of the Company to perform hereunder; or (iv) the Placement Agent determines
that it is reasonably likely that any of the conditions to Closing to be fulfilled by the Company set forth herein will not, or
cannot, be satisfied.

 

    	Placement Agency Agreement (PIPE)
	Page 13

     

    

 

(b)          This
Offering may be terminated by the Company at any time prior to the Termination Date in the event that (i) the Placement Agent
shall have failed to perform any of its material obligations hereunder or (ii) on account of the Placement Agent’s fraud,
illegal or willful misconduct or gross negligence. In the event of any termination by the Company, the Placement Agent shall be
entitled to receive, on the Termination Date, all unpaid Broker Fees earned or accrued through the Termination Date and reimbursement
of all expenses as provided for in this Agreement, but shall be entitled to no other amounts whatsoever except as may be due under
any indemnity or contribution obligation for provided herein, at law or otherwise. On such Termination Date, the Company shall
pay the Placement Agent’s counsels fees in connection with the Offering, as provided for herein.

 

(c)          This
Offering may be terminated upon mutual agreement of the Company and the Placement Agent at any time prior to the expiration of
the Offering Period.

 

(d)          Except
as otherwise provided above, before any termination by the Placement Agent under Section 8(a) or by the Company under Section 8(b)
shall become effective, the terminating party shall give ten (10) day prior written notice to the other party of its intention
to terminate the Offering (the “Termination Notice”). The Termination Notice shall specify the grounds for the proposed
termination. If the specified grounds for termination, or their resulting adverse effect on the transactions contemplated hereby,
are curable, then the other party shall have five (5) business days, or any extensions agreed to by the Parties in writing, from
the Termination Notice within which to remove such grounds or to eliminate all of their material adverse effects on the transactions
contemplated hereby; otherwise, the Offering shall terminate.

 

(e)          Upon
any termination pursuant to this Section 8, the Placement Agent and the Company will instruct the Escrow Agent to cause all monies
received with respect to the subscriptions for Securities not accepted by the Company to be promptly returned to such subscribers
without interest, penalty or deduction.

 

9.           Survival.

 

(a)          The
obligations of the parties to pay any costs and expenses hereunder and to provide indemnification and contribution as provided
herein shall survive any termination hereunder. In addition, the provisions of Sections 2, and 7 through 19 shall survive the sale
of the Securities or any termination of the Offering hereunder.

 

(b)          The
respective indemnities, covenants, representations, warranties and other statements of the Company and the Placement Agent set
forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on
behalf of, and regardless of any access to information by the Company or the Placement Agent, or any of its officers or directors
or any controlling person thereof, and will survive the sale of the Securities or any termination of the Offering hereunder.

 

10.         Notices.

 

All notice and other
communications hereunder will be in writing and shall be deemed effectively given to a party by (a) personal delivery; (b) upon
deposit with the United States Post Office, by certified mail, return receipt requested, first-class mail, postage prepaid; (c)
delivered by hand or by messenger or overnight courier, addressee signature required, to the addresses below or at such other address
and/or to such other persons as shall have been furnished by the parties:

 

    	Placement Agency Agreement (PIPE)
	Page 14

     

    

 

	If to the Company:	Akoustis Technologies, Inc.
	 	9805 Northcross Center Court, Suite H
	 	Huntersville, North Carolina 28078
	 	Attention:  Jeffrey B. Shealy, CEO
	 	 
	If to Katalyst Securities LLC.	Katalyst Securities, LLC
	 	1330 Avenue of the Americas, 14th Floor
	 	New York, NY 10019
	 	Attention:  Michael Silverman
	 	Managing Director
	 	 
	With a copy to:	Barbara J. Glenns, Esq.
	(which shall not constitute notice)	Law Office of Barbara J. Glenns, Esq.
	 	30 Waterside Plaza, Suite 25G
	 	New York, NY 10010

 

11.         Governing
Law, Jurisdiction.

 

This Agreement shall
be deemed to have been made and delivered in New York City and shall be governed as to validity, interpretation, construction,
effect and in all other respects by the internal laws of the State of New York without regard to principles of conflicts of law
thereof.

 

THE
PARTIES HERETO AGREE TO SUBMIT ALL CONTROVERSIES TO the exclusive jurisdiction of finra ARBITRATION IN ACCORDANCE WITH THE PROVISIONS
SET FORTH BELOW AND UNDERSTAND THAT (A) ARBITRATION IS FINAL AND BINDING ON THE PARTIES, (B) THE PARTIES ARE WAIVING THEIR RIGHTS
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 RULES BY ARBITRATORS IS STRICTLY LIMITED, (E) THE PANEL OF FINRA ARBITRATORS
WILL TYPICALLY INCLUDE A MINORITY OF ARBITRATORS WHO WERE OR ARE AFFILIATED WITH THE SECURITIES INDUSTRY, AND (F) ALL CONTROVERSIES
WHICH MAY ARISE BETWEEN THE PARTIES CONCERNING THIS AGREEMENT SHALL BE DETERMINED BY ARBITRATION PURSUANT TO THE RULES THEN PERTAINING
TO FINRA. ALL QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS AGREEMENT SHALL BE GOVERNED
BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEw york. JUDGMENT ON ANY AWARD OF ANY SUCH ARBITRATION
MAY BE ENTERED IN THE SUPREME COURT OF THE STATE OF NEW YORK OR IN ANY OTHER COURT HAVING JURISDICTION OVER THE PERSON OR PERSONS
AGAINST WHOM SUCH AWARD IS RENDERED. 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 NEW YORK,
STATE OF NEW YORK, ON AN EXPEDITED BASIS. IF THE PARTIES CANNOT SUCCESSFULLY RESOLVE THEIR DIFFERENCES THROUGH MEDIATION, THE MATTER
WILL BE RESOLVED BY ARBITRATION. THE ARBITRATION SHALL TAKE PLACE IN THE COUNTY OF NEW YORK, THE STATE OF NEW YORK, ON AN EXPEDITED
BASIS. 

 

    	Placement Agency Agreement (PIPE)
	Page 15

     

    

 

12.         Miscellaneous.

 

(a)          No
provision of this Agreement may be changed or terminated except by a writing signed by the party or parties to be charged therewith.
Unless expressly so provided, no party to this Agreement will be liable for the performance of any other party’s obligations
hereunder. Either party hereto may waive compliance by the other with any of the terms, provisions and conditions set forth herein;
provided, however, that any such waiver shall be in writing specifically setting forth those provisions waived thereby. No such
waiver shall be deemed to constitute or imply waiver of any other term, provision or condition of this Agreement. Neither party
may assign its rights or obligations under this Agreement to any other person or entity without the prior written consent of the
other party.

 

(b)          Each
party shall, without payment of any additional consideration by any other party, at any time on or after the date of any Closings,
take such further action and execute such other and further documents and instruments as the other party may reasonably request
in order to provide the other party with the benefits of this Agreement.

 

(c)          The
Parties to this Agreement each hereby confirm that they will cooperate with each other to the extent that it may become necessary
to enter into any revisions or amendments to this Agreement, in the future to conform to any federal or state regulations as long
as such revisions or amendments do not materially alter the obligations or benefits of either party under this Agreement.

 

13.         Entire
Agreement; Severability.

 

This Agreement together
with any other agreement referred to herein supersedes all prior understandings and written or oral agreements between the parties
with respect to the Offering and the subject matter hereof. If any portion of this Agreement shall be held invalid or unenforceable,
then so far as is reasonable and possible (i) the remainder of this Agreement shall be considered valid and enforceable and (ii)
effect shall be given to the intent manifested by the portion held invalid or unenforceable.

 

14.         Counterparts.

 

This Agreement may
be executed in multiple counterparts, each of which may be executed by less than all of the parties and shall be deemed to be an
original instrument which shall be enforceable against the parties actually executing such counterparts and all of which together
shall constitute one and the same instrument. 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 in pdf format shall be deemed
to be their original signatures for all purposes.

 

    	Placement Agency Agreement (PIPE)
	Page 16

     

    

 

15.         Announcement
of Offering.

 

The Placement Agent
may, subsequent to the closing of the Offering, publicize their involvement with the Company, provided that the Placement Agent
receives the written consent of the Company in advance, such consent not to be unreasonably withheld, for the use of the Company’s
name or logo and the text of the intended publication by Placement Agent. 

 

16.         Advice
to the Board.

 

The Company acknowledges
that any advice given by the Placement Agent to the Company is solely for benefit and use of the Company’s board of directors
and officers, who will make all decisions regarding whether and how to pursue any opportunity or transaction, including any potential
Offering. The Company’s board of directors and management may consider such advice, but will also base their decisions on
the advice of legal, tax and other business advisors and other factors which they consider appropriate. Accordingly, as an independent
contractor, the Placement Agent will not assume the responsibilities of a fiduciary to the Company or its stockholders in connection
with the performance of the services. Any advice provided may not be used, reproduced, disseminated, quoted or referred to without
prior written consent of the providing party. The Placement Agent does not provide accounting, tax or legal advice. The Company
is a sophisticated business enterprise that has retained the Placement Agent for the limited purposes set forth in this Agreement.
The parties acknowledge and agree that their respective rights and obligations are contractual in nature. Each party disclaims
an intention to impose fiduciary obligations on the other by virtue of the engagement contemplated by this Agreement.

 

17.         Other
Investment Banking Services.

 

The Company acknowledges
that the Placement Agent and its affiliates are securities firms engaged in securities trading and brokerage activities and providing
investment banking and financial advisory services. In the ordinary course of business, the Placement Agent and its affiliates
may at any time hold long or short positions, and may trade or otherwise effect transactions, for their own account or the accounts
of customers, in the Company’s debt or equity securities, the Company Affiliates or other entities that may be involved in
the transactions contemplated by this Agreement. In addition, the Placement Agent and its affiliates may from time to time perform
various investment banking and financial advisory services for other clients and customers who may have conflicting interests with
respect to the Company or the Offering. The Company also acknowledges that the Placement Agent and its affiliates have no obligation
to use in connection with this engagement or to furnish the Company, confidential information obtained from other companies. Furthermore,
the Company acknowledges the Placement Agent may have fiduciary or other relationships whereby it or its affiliates may exercise
voting power over securities of various persons, which securities may from time to time include securities of the Company or others
with interests in respect of any Offering. The Company acknowledges that the Placement Agent or such affiliates may exercise such
powers and otherwise perform our functions in connection with such fiduciary or other relationships without regard to the Placement
Agent’s relationship to the Company hereunder.

 

18.         Research
Matters.

 

By entering into this
Agreement or serving as a placement agent in the Offering, the Placement Agent does not provide any promise, either explicitly
or implicitly, of favorable or continued research coverage of the Company and the Company hereby acknowledges and agrees that the
Placement Agent’s selection as a placement agent for the Offering was in no way conditioned, explicitly or implicitly, on
the Placement Agent providing favorable or any research coverage of the Company. In accordance with FINRA Rule 2711(e), the parties
acknowledge and agree that the Placement Agent has not directly or indirectly offered favorable research, a specific rating or
a specific price target, or threatened to change research, a rating or a price target, to the Company or inducement for the receipt
of business or compensation.

 

    	Placement Agency Agreement (PIPE)
	Page 17

     

    

 

19.         Successors.

 

This Agreement shall
inure to the benefit of and be binding upon the successors of the Placement Agent and of the Company (including any party that
acquires the Company or all or substantially all of its assets or merges with the Company). Nothing expressed or mentioned in this
Agreement is intended or shall be construed to give any person or corporation, other than the parties hereto and parties expressly
referred to herein, any legal or equitable right, remedy or claim under or in respect to this Agreement or any provision hereof.
The term “successors” shall not include any purchaser of the Securities merely by reason of such purchase. No subrogee
of a benefited party shall be entitled to any benefits hereunder. Each party hereto disclaims any an intention to impose any fiduciary
obligation on any other party by virtue of the arrangements contemplated by this Agreement.

 

[Signatures on following page.]

 

    	Placement Agency Agreement (PIPE)
	Page 18

     

    

 

If the foregoing is
in accordance with your understanding of the agreement among the Company and the Placement Agent, kindly sign and return this Agreement,
whereupon it will become a binding agreement as provided herein, between the Company and the Placement Agent in accordance with
its terms.

 

This
Agreement contains a pre-dispute arbitration provision in Section 11.

 

	 	AKOUSTIS TECHNOLOGIES, INC.
	 	 	 
	 	By:	/s/ Jeffrey B. Shealy
	 	 	 Jeffrey B. Shealy
	 	 	 Chief Executive Officer
	 	 	 
	 	KATALYST SECURITIES LLC
	 	 	 
	 	By:	/s/ Michael Silverman 
	 	 	 Michael A. Silverman
	 	 	 Managing Director

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