Document:

EXHIBIT 10.37

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights
Agreement (this “Agreement”) is made and entered into effective as of May [ ], 2017, among Akoustis Technologies,
Inc., a Delaware corporation (the “Company”), and the persons who have executed omnibus or counterpart signature
page(s) hereto (each, a “Subscriber” and collectively, the “Subscribers”).

 

RECITALS:

 

WHEREAS, the
Company has offered and sold in compliance with Rule 506 of Regulation D promulgated under the Securities Act to investors in a
private placement offering (the “Offering”) shares (the “Shares”) of the common stock of
the Company, par value $0.001 per share, pursuant to that certain Subscription Agreement entered into by and between the Company
and each of the Subscribers for the Shares set forth on the signature pages affixed thereto (the “Subscription Agreement”);
and

 

WHEREAS, the
Company has agreed to enter into a registration rights agreement with each of the Subscribers in the Offering who purchased the
Shares.

 

NOW, THEREFORE,
in consideration of the mutual promises, representations, warranties, covenants, and conditions set forth herein, the parties mutually
agree as follows:

 

1.           Certain
Definitions. As used in this Agreement, the following terms shall have the following respective meanings:

 

“Approved
Market” means any market operated by the OTC Markets Group Inc., the Nasdaq Capital Market, the New York Stock Exchange
or the NYSE MKT.

 

“Blackout
Period” means, with respect to a registration, a period during which the Company, in the good faith judgment of its board
of directors, determines (because of the existence of, or in anticipation of, any acquisition, financing activity, or other transaction
involving the Company, or the unavailability for reasons beyond the Company’s control of any required financial statements,
disclosure of information which is in its best interest not to publicly disclose, or any other event or condition of similar significance
to the Company) that the registration and distribution of the Registrable Securities to be covered by such registration statement,
if any, or the filing of an amendment to such registration statement in the circumstances described in Section 4(f), would be seriously
detrimental to the Company and its stockholders, in each case commencing on the day the Company notifies the Holders that they
are required, because of the determination described above, to suspend offers and sales of Registrable Securities and ending on
the earlier of (1) the date upon which the material non-public information resulting in the Blackout Period is disclosed to the
public or ceases to be material and (2) such time as the Company notifies the selling Holders that sales pursuant to such Registration
Statement or a new or amended Registration Statement may resume.

 

“Business
Day” means any day of the year, other than a Saturday, Sunday, or other day on which banks in the State of New York are
required or authorized to close.

 

     

     

    

 

“Commission”
means the U. S. Securities and Exchange Commission or any other federal agency at the time administering the Securities Act.

 

“Common Stock”
means the common stock, par value $0.001 per share, of the Company and any and all shares of capital stock or other equity securities
of: (i) the Company which are added to or exchanged or substituted for the Common Stock by reason of the declaration of any stock
dividend or stock split, the issuance of any distribution or the reclassification, readjustment, recapitalization or other such
modification of the capital structure of the Company; and (ii) any other corporation, now or hereafter organized under the laws
of any state or other governmental authority, with which the Company is merged, which results from any consolidation or reorganization
to which the Company is a party, or to which is sold all or substantially all of the shares or assets of the Company, if immediately
after such merger, consolidation, reorganization or sale, the Company or the stockholders of the Company own equity securities
having in the aggregate more than 50% of the total voting power of such other corporation.

 

“Effective
Date” means the date of the final closing of the Offering.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated
thereunder.

 

“Family Member”
means (a) with respect to any individual, such individual’s spouse, any descendants (whether natural or adopted), any trust
all of the beneficial interests of which are owned by any of such individuals or by any of such individuals together with any organization
described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, the estate of any such individual, and any corporation,
association, partnership or limited liability company all of the equity interests of which are owned by those above described individuals,
trusts or organizations and (b) with respect to any trust, the owners of the beneficial interests of such trust.

 

“Holder”
means each Subscriber or any of such Subscriber’s respective successors and Permitted Assignees who acquire rights in accordance
with this Agreement with respect to any Registrable Securities directly or indirectly from a Subscriber or from any Permitted Assignee.

 

“Majority
Holders” means, at any time, Holders of a majority of the Registrable Securities then outstanding.

 

“Permitted
Assignee” means (a) with respect to a partnership, its partners or former partners in accordance with their partnership
interests, (b) with respect to a corporation, its stockholders in accordance with their interest in the corporation, (c) with respect
to a limited liability company, its members or former members in accordance with their interest in the limited liability company,
(d) with respect to an individual party, any Family Member of such party, (e) an entity that is controlled by, controls, or is
under common control with a transferor, or (f) a party to this Agreement.\

 

“Piggyback
Registration” means, in any registration of Common Stock referenced in Section 3(b), the right of each Holder to include
the Registrable Securities of such Holder in such registration.

 

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The terms “register,”
“registered,” and “registration” refer to a registration effected by preparing and filing
a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration
statement.

 

“Registrable
Securities” means the Shares, but excluding any otherwise Registrable Securities that (i) have been sold or otherwise
transferred other than to a Permitted Assignee, (ii) may be sold under the Securities Act without volume limitations either pursuant
to Rule 144 of the Securities Act or otherwise during any ninety (90) day period, or (iii) are at the time subject to an effective
registration statement under the Securities Act.

 

“Registration
Default Period” means the period during which any Registration Event occurs and is continuing.

 

“Registration
Effectiveness Date” means the date that is one hundred and eighty (180) calendar days after the Registration Statement
is first filed with the Commission.

 

“Registration
Event” means the occurrence of any of the following events:

 

(a)          the
Company fails to file with the Commission the Registration Statement on or before the Registration Filing Date;

 

(b)          the
Registration Statement is not declared effective by the Commission on or before the Registration Effectiveness Date;

 

(c)          after
the SEC Effective Date, the Registration Statement ceases for any reason to remain continuously effective or the Holders are otherwise
not permitted to utilize the prospectus therein to resell the Registrable Securities (including a Blackout Period) for a period
of more than fifteen (15) consecutive Trading Days, except as excused pursuant to Section 3(a); or

 

(d)          the
Registrable Securities, if issued, are not listed or included for quotation on an Approved Market, or trading of the Common Stock
is suspended or halted on the Approved Market, which at the time constitutes the principal markets for the Common Stock, for more
than three (3) full, consecutive Trading Days; provided, however, a Registration Event shall not be deemed to occur if all or substantially
all trading in equity securities (including the Common Stock) is suspended or halted on the Approved Market for any length of time.

 

“Registration
Filing Date” means the date that is ninety (90) calendar days after the Effective Date.

 

“Registration
Statement” means the registration statement that the Company is required to file pursuant to Section 3(a)(i) of this
Agreement to register the Registrable Securities.

 

“Rule 144”
means Rule 144 promulgated by the Commission under the Securities Act, as such rule may be amended or supplemented from time to
time, or any similar successor rule that may be promulgated by the Commission.

 

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“Rule 145”
means Rule 145 promulgated by the Commission under the Securities Act, as such rule may be amended or supplemented from time to
time, or any similar successor rule that may be promulgated by the Commission.

 

“Rule 415”
means Rule 415 promulgated by the Commission under the Securities Act, as such rule may be amended or supplemented from time to
time, or any similar successor rule that may be promulgated by the Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended, or any similar federal statute promulgated in replacement thereof,
and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time.

 

“SEC Effective
Date” means the date the Registration Statement is declared effective by the Commission.

 

“Shares”
means the shares of Common Stock issued to the Subscribers pursuant to the Subscription Agreement (including any Shares of Common
Stock issued pursuant to Section 18 of the Subscription Agreement) and any shares of Common Stock issued or issuable with respect
to such shares upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing.

 

“Trading Day”
means any day on which such national securities exchange, the OTC Markets Group Inc. or such other securities market or quotation
system, which at the time constitutes the principal securities market for the Common Stock, is open for general trading of securities.

 

Capitalized terms used
herein without definition have the meanings ascribed to them in the Subscription Agreement.

 

2.           Term.
This Agreement shall terminate with respect to each Holder on the earlier of: (i) the second anniversary of the SEC Effective Date;
(ii) the date on which all Registrable Securities held by such Holder are transferred other than to a Permitted Assignee or may
be sold under Rule 144 without restriction (including, without limitation, volume restrictions) during any ninety (90) day period;
or (iii) the date otherwise terminated as provided herein.

 

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3.           Registration.

 

(a)          Registration
on Form S-1. The Company shall file with the Commission a Registration Statement on Form S-1, or any other form for which the
Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for the resale
by the Holders of all of the Registrable Securities, and the Company shall (i) use its commercially reasonable efforts to make
the initial filing of the Registration Statement no later than the Registration Filing Date; provided, however, that the
Company shall use commercially reasonable efforts to include the Registrable Securities of the Holders on the next Registration
Statement on Form S-1 that the Company files with the Commission; (ii) use its commercially reasonable efforts to cause such Registration
Statement to be declared effective by the Commission no later than the Registration Effectiveness Date; and (iii) use its commercially
reasonable efforts to keep such Registration Statement effective for a period of two (2) years from the SEC Effective Date or for
such shorter period ending on the earlier to occur of (x) the date on which all Registrable Securities have been transferred other
than to a Permitted Assignee and (y) the date as of which all of the Holders may sell all of the Registrable Securities without
restriction pursuant to Rule 144 (including, without limitation, volume restrictions) within a 90 day period (the “Effectiveness
Period”); provided, however, that the Company shall not be obligated to effect any such registration, qualification
or compliance pursuant to this Section, or keep such registration effective pursuant to the terms hereunder, in any particular
jurisdiction in which the Company would be required to qualify to do business as a foreign corporation or as a dealer in securities
under the securities laws of such jurisdiction or to execute a general consent to service of process in effecting such registration,
qualification or compliance, in each case where it has not already done so. Notwithstanding the foregoing, in the event that the
staff (the “Staff”) of the Commission should limit the number of Registrable Securities that may be sold pursuant
to the Registration Statement, the Company may remove from the Registration Statement such number of Registrable Securities as
specified by the Commission on behalf of all of the holders of Registrable Securities from the Registrable Securities, on a pro
rata basis among the holders thereof. In such event, the Company shall give the Subscribers prompt notice of the number of Registrable
Securities excluded therefrom. No liquidated damages shall accrue or be payable to any Holder pursuant to Section 3(d) with respect
to any Registrable Securities that are excluded by reason of the foregoing sentence.

 

(b)          Piggyback
Registration. If, after the SEC Effective Date, the Company shall determine to register for sale for cash any of its Common
Stock, for its own account or for the account of others (other than the Holders), other than (i) a registration relating solely
to employee benefit plans or securities issued or issuable to directors, employees, consultants (to the extent the securities owned
or to be owned by such consultants could be registered on Form S-8 (or its then equivalent form)) or any of their Family Members
(including a registration on Form S-8 (or its then equivalent form)), (ii) a registration relating solely to a Securities Act Rule
145 transaction or a registration on Form S-4 (or its then equivalent form) in connection with a merger, acquisition, divestiture,
reorganization or similar event, or (iii) a transaction relating solely to the sale of debt or convertible debt instruments, then
the Company shall promptly give to each Holder written notice thereof (the “Registration Rights Notice”) (and
in no event shall such notice be given less than twenty (20) calendar days prior to the filing of such registration statement),
and shall, subject to Section 3(c), include as a Piggyback Registration all of the Registrable Securities (including any Registrable
Securities that are removed from the Registration Statement as a result of a requirement by the Staff) specified in a written request
delivered by the Holder thereof within ten (10) calendar days after delivery to the Holder of such written notice from the Company.
However, the Company may, without the consent of such Holders, withdraw such registration statement prior to its becoming effective
if the Company or such other selling stockholders have elected to abandon the proposal to register the securities proposed to be
registered thereby. The right contained in this paragraph may be exercised by each Holder only with respect to two (2) qualifying
registrations.

 

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(c)          Underwriting.
If a Piggyback Registration is for a registered public offering that is to be made by an underwriting, the Company shall so advise
the Holders as part of the Registration Rights Notice. In that event, the right of any Holder to Piggyback Registration shall be
conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities
in the underwriting to the extent provided herein. All Holders proposing to sell any of their Registrable Securities through such
underwriting shall (together with the Company and any other stockholders of the Company selling their securities through such underwriting)
enter into an underwriting agreement in customary form with the underwriter selected for such underwriting by the Company or such
other selling stockholders, as applicable. Notwithstanding any other provision of this Section 3(c), if the underwriter or the
Company determines that marketing factors require a limitation on the number of shares of Common Stock or the amount of other securities
to be underwritten, the underwriter may exclude some or all Registrable Securities from such registration and underwriting. The
Company shall so advise all Holders (except those Holders who failed to timely elect to include their Registrable Securities through
such underwriting or have indicated to the Company their decision not to do so), and indicate to each such Holder the number of
shares of Registrable Securities that may be included in the registration and underwriting, if any. The number of shares of Registrable
Securities to be included in such registration and underwriting shall be allocated among such Holders as follows:

 

(i)          If
the Piggyback Registration was initiated by the Company, the number of shares that may be included in the registration and underwriting
shall be allocated first to the Company and then, subject to obligations and commitments existing as of the date hereof, to all
persons exercising piggyback registration rights (including the Holders) who have requested to sell in the registration on a pro
rata basis according to the number of shares requested to be included therein; and

 

(ii)         If
the Piggyback Registration was initiated by the exercise of demand registration rights by a stockholder or stockholders of the
Company, then the number of shares that may be included in the registration and underwriting shall be allocated first in accordance
with applicable provisions of the agreement providing for such demand registration rights, second to the Company and then, subject
to obligations and commitments existing as of the date hereof, to all persons exercising piggyback registration rights (including
the Holders) who have requested to sell in the registration on a pro rata basis according to the number of shares requested to
be included therein.

 

No Registrable Securities
excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration.
If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw such Holder’s Registrable
Securities therefrom by delivering a written notice to the Company and the underwriter. The Registrable Securities so withdrawn
from such underwriting shall also be withdrawn from such registration; provided, however, that, if by the withdrawal
of such Registrable Securities, a greater number of Registrable Securities held by other Holders may be included in such registration
(up to the maximum of any limitation imposed by the underwriters), then the Company shall offer to all Holders who have included
Registrable Securities in the registration the right to include additional Registrable Securities pursuant to the terms and limitations
set forth herein in the same proportion used above in determining the underwriter limitation.

 

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(d)          Liquidated
Damages. If a Registration Event set forth in clause (a), (c), or (d) of the definition thereof occurs, then the Company will
make payments to each Holder of Registrable Securities, as liquidated damages to such Holder by reason of the Registration Event,
a cash sum calculated at a rate of twelve percent (12%) per annum of the aggregate purchase price paid by such Holder pursuant
to the Subscription Agreement with respect to such Holder’s Registrable Securities that are affected by such Registration
Event, on a daily pro rata basis for the period during which such Registration Event continues to affect such Registrable Securities.
Notwithstanding the foregoing, the maximum amount of liquidated damages that may be paid by the Company pursuant to this Section
3(d) shall be an amount equal to eight percent (8%) of the applicable foregoing amount with respect to such Holder’s Registrable
Securities that are affected by all Registration Events in the aggregate. Each payment of liquidated damages pursuant to this Section
3(d) shall be due and payable in arrears within five (5) days after the end of each full 30-day period of the Registration Default
Period until the termination of the Registration Default Period and within five (5) days after such termination. Such payments
shall constitute the Holder’s exclusive remedy for any Registration Event. The Registration Default Period shall terminate
upon the earlier of such time as the Registrable Securities that are affected by the Registration Event cease to be Registrable
Securities or (i) the filing of the Registration Statement in the case of clause (a) of the definition of Registration Event, (ii)
the ability of the Holders to effect sales pursuant to the Registration Statement in the case of clause (c) of the definition of
Registration Event, and (iii) the listing or inclusion and/or trading of the Common Stock on an Approved Market, as the case may
be, in the case of clause (d) of the definition of Registration Event. The amounts payable as liquidated damages pursuant to this
Section 3(d) shall be payable in lawful money of the United States. Notwithstanding the foregoing, the Company will not be liable
for the payment of liquidated damages described in this Section 3(d) for any delay in registration of Registrable Securities that
would otherwise be includable in the Registration Statement pursuant to Rule 415 solely as a result of a comment received by the
Staff requiring a limit on the number of Registrable Securities included in such Registration Statement in order for such Registration
Statement to be able to avail itself of Rule 415. In the event of any such delay, the Company will use its commercially reasonable
efforts at the first opportunity that is permitted by the Commission to register for resale the Registrable Securities that have
been cut back from being registered pursuant to Rule 415 only with respect to that portion of the Holders’ Registrable Securities
that are then Registrable Securities.

 

(e)          Other
Limitations. Notwithstanding the provisions of Section 3(d) above, if (i) the Commission does not declare the Registration
Statement effective on or before the Registration Effectiveness Date, or (ii) the Commission allows the Registration Statement
to be declared effective at any time before or after the Registration Effectiveness Date, subject to the withdrawal of certain
Registrable Securities from the Registration Statement, and the reason for (i) or (ii) is the Commission’s determination
that (x) the offering of any of the Registrable Securities constitutes a primary offering of securities by the Company, (y) Rule
415 may not be relied upon for the registration of the resale of any or all of the Registrable Securities, and/or (z) a Holder
of any Registrable Securities must be named as an underwriter, the Holders understand and agree that in the case of (ii) the Company
may (notwithstanding anything to the contrary contained herein) reduce, on a pro rata basis, the total number of Registrable Securities
to be registered on behalf of each such Holder, and in the case of (i) or (ii) the Holder shall not be entitled to liquidated damages
with respect to the Registrable Securities not registered for the reason set forth in (i) or so reduced on a pro rata basis as
set forth above.

 

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4.           Registration
Procedures. The Company will keep each Holder reasonably advised as to the filing and effectiveness of the Registration Statement.
At its expense with respect to the Registration Statement, the Company will:

 

(a)          prepare
and file with the Commission with respect to the Registrable Securities, a Registration Statement in accordance with Section 3(a)
hereof, and use its commercially reasonable efforts to cause such Registration Statement to become effective and to remain effective
for the Effectiveness Period;

 

(b)          if
the Registration Statement is subject to review by the Commission, promptly respond to all comments and diligently pursue resolution
of any comments to the satisfaction of the Commission;

 

(c)          prepare
and file with the Commission such amendments and supplements to such Registration Statement as may be necessary to keep such Registration
Statement effective during the Effectiveness Period;

 

(d)          furnish,
without charge, to each Holder of Registrable Securities covered by such Registration Statement (i) a reasonable number of copies
of such Registration Statement (including any exhibits thereto other than exhibits incorporated by reference), each amendment and
supplement thereto as such Holder may reasonably request, (ii) such number of copies of the prospectus included in such Registration
Statement (including each preliminary prospectus and any other prospectus filed under Rule 424 of the Securities Act) as such Holders
may reasonably request, in conformity with the requirements of the Securities Act, and (iii) such other documents as such Holder
may reasonably require to consummate the disposition of the Registrable Securities owned by such Holder, but only during the Effectiveness
Period;

 

(e)          use
its commercially reasonable efforts to register or qualify such registration under such other applicable securities laws of such
jurisdictions within the United States as any Holder of Registrable Securities covered by such Registration Statement reasonably
requests and as may be necessary for the marketability of the Registrable Securities (such request to be made by the time the applicable
Registration Statement is deemed effective by the Commission) and do any and all other acts and things necessary to enable such
Holder to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Holder; provided,
that the Company shall not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise
be required to qualify but for this paragraph, (ii) subject itself to taxation in any such jurisdiction, or (iii) consent to general
service of process in any such jurisdiction;

 

(f)          as
promptly as practicable after becoming aware of such event, notify each Holder of Registrable Securities, the disposition of which
requires delivery of a prospectus relating thereto under the Securities Act, of the happening of any event, which comes to the
Company’s attention, that will after the occurrence of such event cause the prospectus included in such Registration Statement,
if not amended or supplemented, to contain an untrue statement of a material fact or an omission to state a material fact required
to be stated therein or necessary to make the statements therein not misleading and the Company shall promptly thereafter prepare
and furnish to such Holder a supplement or amendment to such prospectus (or prepare and file appropriate reports under the Exchange
Act) so that, as thereafter delivered to the Subscribers of such Registrable Securities, such prospectus shall not contain an untrue
statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein not misleading, unless suspension of the use of such prospectus otherwise is authorized herein or in the event of a Blackout
Period, in which case no supplement or amendment need be furnished (or Exchange Act filing made) until the termination of such
suspension or Blackout Period;

 

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(g)          comply,
and continue to comply during the Effectiveness Period, in all material respects with the Securities Act and the Exchange Act and
with all applicable rules and regulations of the Commission with respect to the disposition of all securities covered by such Registration
Statement;

 

(h)          as
promptly as practicable after becoming aware of such event, notify each Holder of Registrable Securities being offered or sold
pursuant to the Registration Statement of the issuance by the Commission of any stop order or other suspension of effectiveness
of the Registration Statement;

 

(i)           use
its commercially reasonable efforts to cause all the Registrable Securities covered by the Registration Statement to be quoted
on the OTC Markets Group or such other principal securities market or quotation system on which securities of the same class or
series issued by the Company are then listed or traded or quoted;

 

(j)           provide
a transfer agent and registrar, which may be a single entity, for the shares of Common Stock at all times;

 

(k)          cooperate
with the Holders of Registrable Securities being offered pursuant to the Registration Statement to issue and deliver, or cause
its transfer agent to issue and deliver, certificates representing Registrable Securities to be offered pursuant to the Registration
Statement within a reasonable time after the delivery of certificates representing the Registrable Securities to the transfer agent
or the Company, as applicable, and enable such certificates to be in such denominations or amounts as the Holders may reasonably
request and registered in such names as the Holders may request;

 

(l)           during
the Effectiveness Period, refrain from bidding for or purchasing any Common Stock or any right to purchase Common Stock or attempting
to induce any person to purchase any such security or right if such bid, purchase or attempt would in any way limit the right of
the Holders to sell Registrable Securities by reason of the limitations set forth in Regulation M of the Exchange Act; and

 

(m)         take
all other commercially reasonable actions necessary to enable the Holders to sell the Registrable Securities by means of the Registration
Statement during the term of this Agreement.

 

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5.           Obligations
of the Holders.

 

(a)          Each
Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section
4(f) hereof or of the commencement of a Blackout Period, such Holder shall discontinue the disposition of Registrable Securities
included in the Registration Statement until such Holder’s receipt of the copies of the supplemented or amended prospectus
contemplated by Section 4(f) hereof or notice of the end of the Blackout Period, and, if so directed by the Company, such Holder
shall deliver to the Company (at the Company’s expense) all copies (including, without limitation, any and all drafts), other
than permanent file copies, then in such Holder’s possession, of the prospectus covering such Registrable Securities current
at the time of receipt of such notice.

 

(b)          The
Holders of the Registrable Securities shall provide such information as may reasonably be requested by the Company, or the managing
underwriter, if any, in connection with the preparation of any registration statement, including amendments and supplements thereto,
in order to effect the registration of any Registrable Securities under the Securities Act pursuant to Section 3(a) and/or 3(b)
of this Agreement and in connection with the Company’s obligation to comply with federal and applicable state securities
laws, including a completed questionnaire in the form attached to this Agreement as Annex A (a “Selling Securityholder
Questionnaire”) or any update thereto not later than three (3) Business Days following a request therefore from the Company.

 

(c)          Each
Holder, by its acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company
in connection with the preparation and filing of any Registration Statement hereunder, unless such Holder has notified the Company
in writing of its election to exclude all of its Registrable Securities from such Registration Statement.

 

6.           Registration
Expenses. The Company shall pay all expenses in connection with any registration obligation provided herein, including, without
limitation, all registration, filing, stock exchange fees, printing expenses, all fees and expenses of complying with applicable
securities laws, and the fees and disbursements of counsel for the Company and of its independent accountants; provided, that,
in any underwritten registration, the Company shall have no obligation to pay any underwriting discounts, selling commissions or
transfer taxes attributable to the Registrable Securities being sold by the Holders thereof, which underwriting discounts, selling
commissions and transfer taxes shall be borne by such Holders. Additionally, in an underwritten offering, all selling stockholders
and the Company shall bear the expenses of the underwriter pro rata in proportion to the respective amount of shares each is selling
in such offering. Except as provided in this Section 6 and Section 8 of this Agreement, the Company shall not be responsible for
the expenses of any attorney or other advisor employed by a Holder.

 

7.           Assignment
of Rights. No Holder may assign its rights under this Agreement to any party without the prior written consent of the Company;
provided, however, that any Holder may assign its rights under this Agreement without such consent to a Permitted
Assignee as long as (a) such transfer or assignment is effected in accordance with applicable securities laws; (b) such transferee
or assignee agrees in writing to become bound by and subject to the terms of this Agreement; and (c) such Holder notifies the Company
in writing of such transfer or assignment, stating the name and address of the transferee or assignee and identifying the Registrable
Securities with respect to which such rights are being transferred or assigned. The Company may assign this Agreement or any rights
or obligations hereunder without the prior written consent of the other party hereto.

 

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8.           Indemnification.

 

(a)          In
the event of the offer and sale of Registrable Securities under the Securities Act, the Company shall, and hereby does, indemnify
and hold harmless, to the fullest extent permitted by law, each Holder, its directors, officers, partners, and each other person,
if any, who controls or is under common control with such Holder within the meaning of Section 15 of the Securities Act, against
any losses, claims, damages or liabilities, joint or several, and expenses to which the Holder or any such director, officer, partner
or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages, liabilities
or expenses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any
untrue statement of any material fact contained in any registration statement prepared and filed by the Company under which Registrable
Securities were registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained
therein, or any amendment or supplement thereto, or any omission to state therein a material fact required to be stated or necessary
to make the statements therein in light of the circumstances in which they were made not misleading, and the Company shall reimburse
the Holder, and each such director, officer, partner and controlling person for any legal or any other expenses reasonably incurred
by them in connection with investigating, defending or settling any such loss, claim, damage, liability, action or proceeding;
provided, however, that such indemnity agreement found in this Section 8(a) shall in no event exceed the net proceeds from the
Offering received by the Company; and provided further, that the Company shall not be liable in any such case (i) to the
extent that any such loss, claim, damage, liability (or action or proceeding in respect thereof) or expense arises out of or is
based upon (x) an untrue statement in or omission from such registration statement, any such preliminary prospectus, final prospectus,
summary prospectus, amendment or supplement in reliance upon and in conformity with written information furnished by a Holder to
the Company for use in the preparation thereof or (y) the failure of a Holder to comply with the covenants and agreements contained
in Section 5 hereof respecting the sale of Registrable Securities; or (ii) if the person asserting any such loss, claim, damage,
liability (or action or proceeding in respect thereof) who purchased the Registrable Securities that are the subject thereof did
not receive a copy of an amended preliminary prospectus or the final prospectus (or the final prospectus as amended or supplemented)
at or prior to the written confirmation of the sale of such Registrable Securities to such person because of the failure of such
Holder to so provide such amended preliminary or final prospectus and the untrue statement or omission of a material fact made
in such preliminary prospectus was corrected in the amended preliminary or final prospectus (or the final prospectus as amended
or supplemented). Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of
the Holders, or any such director, officer, partner or controlling person and shall survive the transfer of such shares by the
Holder.

 

    	 	11	 

     

    

 

(b)          As
a condition to including Registrable Securities in any registration statement filed pursuant to this Agreement, each Holder agrees
to be bound by the terms of this Section 8 and to indemnify and hold harmless, to the fullest extent permitted by law, the Company,
each of its directors, officers, partners, legal counsel and accountants and each underwriter, if any, and each other person, if
any, who controls the Company within the meaning of Section 15 of the Securities Act, against any losses, claims, damages or liabilities,
joint or several, to which the Company or any such director or officer or controlling person may become subject under the Securities
Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions or proceedings, whether commenced or threatened,
in respect thereof) arise out of or are based upon any untrue statement of a material fact or any omission of a material fact required
to be stated in any registration statement, any preliminary prospectus, final prospectus, summary prospectus, amendment or supplement
thereto or necessary to make the statements therein not misleading, to the extent that such untrue statement or omission is included
or omitted in reliance upon and in conformity with written information furnished by the Holder to the Company for use in the preparation
thereof, and such Holder shall reimburse the Company, and such Holders, directors, officers, partners, legal counsel and accountants,
persons, underwriters, or control persons, each such director, officer, and controlling person for any legal or other expenses
reasonably incurred by them in connection with investigating, defending, or settling any such loss, claim, damage, liability, action,
or proceeding; provided, however, that indemnity obligation contained in this Section 8(b) shall in no event exceed
the amount of the net proceeds received by such Holder as a result of the sale of such Holder’s Registrable Securities pursuant
to such registration statement, except in the case of fraud or willful misconduct. Such indemnity shall remain in full force and
effect, regardless of any investigation made by or on behalf of the Company or any such director, officer or controlling person
and shall survive the transfer by any Holder of such shares.

 

(c)          Promptly
after receipt by an indemnified party of notice of the commencement of any action or proceeding involving a claim referred to in
this Section 8 (including any governmental action), such indemnified party shall, if a claim in respect thereof is to be made against
an indemnifying party, give written notice to the indemnifying party of the commencement of such action; provided, that
the failure of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations
under this Section, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice. In
case any such action is brought against an indemnified party, unless in the reasonable judgment of counsel to such indemnified
party a conflict of interest between such indemnified and indemnifying parties may exist or the indemnified party may have defenses
not available to the indemnifying party in respect of such claim, the indemnifying party shall be entitled to participate in and
to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying
party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to
such indemnified party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof,
unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties
arises in respect of such claim after the assumption of the defenses thereof or the indemnifying party fails to defend such claim
in a diligent manner, other than reasonable costs of investigation. Neither an indemnified nor an indemnifying party shall be liable
for any settlement of any action or proceeding effected without its consent. No indemnifying party shall, without the consent of
the indemnified party, consent to entry of any judgment or enter into any settlement, which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such
claim or litigation. Notwithstanding anything to the contrary set forth herein, and without limiting any of the rights set forth
above, in any event any party shall have the right to retain, at its own expense, counsel with respect to the defense of a claim.
Each indemnified party shall furnish such information regarding itself or the claim in question as an indemnifying party may reasonably
request in writing and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom.

 

    	 	12	 

     

    

 

(d)          If
an indemnifying party does not or is not permitted to assume the defense of an action pursuant to Sections 8(c) or in the case
of the expense reimbursement obligation set forth in Sections 8(a) and 8(b), the indemnification required by Sections 8(a) and
8(b) shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills
are received or expenses, losses, damages, or liabilities are incurred.

 

(e)          If
the indemnification provided for in Section 8(a) or 8(b) is held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage or expense referred to herein, the indemnifying party, in lieu of indemnifying
such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such
loss, liability, claim, damage or expense (i) in such proportion as is appropriate to reflect the proportionate relative fault
of the indemnifying party on the one hand and the indemnified party on the other (determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or omission relates to information supplied by the indemnifying
party or the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent such untrue statement or omission), or (ii) if the allocation provided by clause (i) above is not permitted by applicable
law or provides a lesser sum to the indemnified party than the amount hereinafter calculated, then in such proportion as is appropriate
to reflect not only the proportionate relative fault of the indemnifying party and the indemnified party, but also the relative
benefits received by the indemnifying party on the one hand and the indemnified party on the other, as well as any other relevant
equitable considerations. No indemnified party guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any indemnifying party who was not guilty of such fraudulent misrepresentation.

 

(f)           Notwithstanding
the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered
into in connection with an underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting
agreement shall control.

 

(g)          Other
Indemnification. Indemnification similar to that specified in this Section (with appropriate modifications) shall be given
by the Company and each Holder of Registrable Securities with respect to any required registration or other qualification of securities
under any federal or state law or regulation or governmental authority other than the Securities Act.

 

9.           Rule
144. For a period of at least twelve (12) months following the Effective Date, the Company will use its commercially reasonable
efforts to timely file all reports required to be filed by the Company after the date hereof under the Exchange Act and the rules
and regulations adopted by the Commission thereunder, and if the Company is not required to file reports pursuant to such sections,
it will prepare and furnish to the Subscribers and make publicly available in accordance with Rule 144(c) such information as is
required for the Subscribers to sell shares of Common Stock under Rule 144.

 

    	 	13	 

     

    

 

10.         Independent
Nature of Each Subscriber’s Obligations and Rights. The obligations of each Subscriber under this Agreement are several and
not joint with the obligations of any other Subscriber, and each Subscriber shall not be responsible in any way for the performance
of the obligations of any other Subscriber under this Agreement. Nothing contained herein and no action taken by any Subscriber
pursuant hereto, shall be deemed to constitute such Subscribers as a partnership, an association, a joint venture, or any other
kind of entity, or create a presumption that the Subscribers are in any way acting in concert or as a group with respect to such
obligations or the transactions contemplated by this Agreement. Each Subscriber shall be entitled to independently protect and
enforce its rights, including without limitation the rights arising out of this Agreement, and it shall not be necessary for any
other Subscriber to be joined as an additional party in any proceeding for such purpose.

 

11.         Miscellaneous.

 

(a)          Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the United States of America and the
State of New York, both substantive and remedial, without regard to New York conflicts of law principles. Any judicial proceeding
brought against either of the parties to this Agreement or any dispute arising out of this Agreement or any matter related hereto
shall be brought in the courts of the State of New York, New York County, or in the United States District Court for the Southern
District of New York and, by its execution and delivery of this Agreement, each party to this Agreement accepts the jurisdiction
of such courts. The foregoing consent to jurisdiction shall not be deemed to confer rights on any person other than the parties
to this Agreement.

 

(b)          Remedies.
Except as otherwise specifically set forth herein with respect to a Registration Event, in the event of a breach by the Company
or by a Holder of any of their respective obligations under this Agreement, each Holder or the Company, as the case may be, in
addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, shall
be entitled to specific performance of its rights under this Agreement. Except as otherwise specifically set forth herein with
respect to a Registration Event, the Company and each Holder agree that monetary damages would not provide adequate compensation
for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agree that, in
the event of any action for specific performance in respect of such breach, it shall not assert or shall waive the defense that
a remedy at law would be adequate.

 

(c)          Successors
and Assigns. Except as otherwise provided herein, the provisions hereof shall inure to the benefit of, and be binding upon,
the successors, Permitted Assignees, executors and administrators of the parties hereto.

 

(d)          No
Inconsistent Agreements. The Company has not entered, as of the date hereof, and shall not enter, on or after the date of this
Agreement, into any agreement with respect to its securities that would have the effect of impairing the rights granted to the
Holders in this Agreement or otherwise conflicts with the provisions hereof.

 

    	 	14	 

     

    

 

(e)          Entire
Agreement. This Agreement and the documents, instruments and other agreements specifically referred to herein or delivered
pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof.

 

(f)          Notices,
etc. All notices, consents, waivers, and other communications which are required or permitted under this Agreement shall be
in writing and will be deemed given to a party (a) upon receipt, when personally delivered; (b) one (1) Business Day after deposit
with a nationally recognized overnight courier service with next day delivery specified, costs prepaid) on the date of delivery,
if delivered to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (c) the
date of transmission if sent by facsimile or e-mail with confirmation of transmission by the transmitting equipment if such notice
or communication is delivered prior to 5:00 P.M., New York City time, on a Trading Day, or the next Trading Day after the date
of transmission, if such notice or communication is delivered on a day that is not a Trading Day or later than 5:00 P.M., New York
City time, on any Trading Day; (d) the date received or rejected by the addressee, if sent by certified mail, return receipt requested;
or (e) seven days after the placement of the notice into the mails (first class postage prepaid), to the party at the address,
facsimile number, or e-mail address furnished by the such party:

 

If to the Company,
to:

 

Akoustis Technologies, Inc.

9805 Northcross Center Court

Suite H

Huntersville, NC 28078

Attn: Cindy Payne

Telephone Number: 1-704-997-5735

E-mail Address: cpayne@akoustis.com

 

If to a Subscriber,
to:

 

such Subscriber at the
address set forth on the signature page hereto;

 

or at such other address as any party shall
have furnished to the other parties in writing in accordance with this Section 11(f).

 

(g)          Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any Holder, upon any breach or default
of the Company under this Agreement, shall impair any such right, power or remedy of such Holder nor shall it be construed to be
a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereunder occurring; nor
shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.
Any waiver, permit, consent or approval of any kind or character on the part of any Holder of any breach or default under this
Agreement, or any waiver on the part of any Holder of any provisions or conditions of this Agreement, must be in writing and shall
be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, or by law or
otherwise afforded to any holder, shall be cumulative and not alternative.

 

    	 	15	 

     

    

 

(h)          Counterparts.
This Agreement may be executed in any number of counterparts, and with respect to any Subscriber, by execution of an Omnibus Signature
Page to this Agreement and the Subscription Agreement, each of which shall be enforceable against the parties actually executing
such counterparts, and all of which together shall constitute one instrument. In the event that any signature is delivered by facsimile
transmission or by an e-mail, which contains a portable document format (.pdf) file of an executed signature page, such signature
shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile signature page were an original thereof.

 

(i)          Severability.
In the case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.

 

(j)          Amendments.
Except as otherwise provided herein, the provisions of this Agreement may be amended at any time and from time to time, and particular
provisions of this Agreement may be waived, with and only with an agreement or consent in writing signed by the Company and the
Majority Holders. The Subscribers acknowledge that by the operation of this Section, the Majority Holders may have the right and
power to diminish or eliminate all rights of the Subscribers under this Agreement.

 

[COMPANY SIGNATURE PAGE FOLLOWS]

 

    	 	16	 

     

    

 

This Registration Rights
Agreement is hereby executed as of the date first above written.

 

	 	THE COMPANY:
	 	 
	 	AKOUSTIS TECHNOLOGIES, INC.
	 	 	 
	 	By:	 
	 	Name:  Jeffrey B. Shealy
	 	Title:  Chief Executive Officer
	 	 
	 	SUBSCRIBERS
	 	 
	 	See Omnibus Signature Pages to 
	 	Subscription Agreement

 

    	 	17	 

     

    

 

Annex A

AKOUSTIS TECHNOLOGIES, INC.

 

Selling Securityholder Notice and

Questionnaire

 

The undersigned beneficial
owner of Registrable Securities of Akoustis Technologies, Inc., a Delaware corporation (the “Company”),
understands that the Company has filed or intends to file with the U.S. Securities and Exchange Commission a registration statement
(the “Registration Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933,
as amended, of the Registrable Securities, in accordance with the terms of the Registration Rights Agreement (the “Registration
Rights Agreement”) to which this document is annexed. A copy of the Registration Rights Agreement is available from the
Company upon request at the address set forth below. All capitalized terms not otherwise defined herein shall have the meanings
ascribed thereto in the Registration Rights Agreement.

 

Certain legal consequences
arise from being named as a selling security holder in the Registration Statement and the related prospectus. Accordingly, holders
and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling security holder in the Registration Statement and the related prospectus.

 

NOTICE

 

The undersigned beneficial
owner (the “Selling Securityholder”) of Registrable Securities hereby elects to include the Registrable Securities
owned by it in the Registration Statement.

 

The undersigned hereby
provides the following information to the Company and represents and warrants that such information is accurate:

 

QUESTIONNAIRE

 

		1.	Name:

 

		(a)	Full Legal Name of Selling Securityholder

 

 

 

 

 

 

 

		(b)	Full Legal Name of Registered Holder (holder of record)
(if not the same as (a) above) through which Registrable Securities are held:

 

 

 

 

 

 

 

    	 	18	 

     

    

 

		(c)	If you are not a natural person, full Legal Name of
Natural Control Person (which means a natural person who directly or indirectly alone or with others has power to vote or dispose
of the securities covered by this Questionnaire):

 

 

 

 

 

 

 

		2.	Address for Notices to Selling Securityholder:

 

	 
	 
	 
	 
	 
	 	 
	Telephone:	 	 	Fax:	 
	 
	Email:	 
	 	 
	Contact Person:	 
	 	 	 	 	 	 

 

		3.	Broker-Dealer Status:

 

		(a)	Are you a broker-dealer?

 

YES  ̈               NO
 ̈

 

		(b)	If “yes” to Section 3(a), did you receive
your Registrable Securities as compensation for investment banking services to the Company?

 

YES  ̈               NO
 ̈

 

		Note:	If “no” to Section 3(b), the Commission’s
staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

		(c)	Are you an affiliate of a broker-dealer?

 

YES  ̈               NO
 ̈

 

		(d)	If you are an affiliate of a broker-dealer, do you
certify that you purchased the Registrable Securities in the ordinary course of business, and at the time of the purchase of the
Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to distribute
the Registrable Securities?

 

YES  ̈               NO
 ̈

 

    	 	19	 

     

    

 

		Note:	If “no” to Section 3(d), the Commission’s
staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

		4.	Beneficial Ownership of Securities of the Company Owned
by the Selling Securityholder:

 

Except as set forth below
in this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company.

 

		(a)	Please list the type (common stock, warrants, etc.)
and amount of all securities of the Company (including any Registrable Securities) beneficially owned1 by the Selling Securityholder:

 

 

 

 

 

 

 

		5.	Relationships with the Company:

 

Except as set forth below,
neither you nor (if you are a natural person) any member of your immediate family, nor (if you are not a natural person) any of
your affiliates,2 officers, directors or principal equity holders (owners of 5% of more of the equity securities of the undersigned)
has held any position or office or has had any other material relationship with the Company (or its predecessors or affiliates)
during the past three years.

 

State any
exceptions here:

 

 

 

 

 

 

 

1
Beneficially Owned: A “beneficial owner” of a security includes any person who, directly or indirectly, through
any contract, arrangement, understanding, relationship or otherwise has or shares (i) voting power, including the
power to direct the voting of such security, or (ii) investment power, including the power to dispose of, or direct
the disposition of, such security. In addition, a person is deemed to have “beneficial ownership” of a security of
which such person has the right to acquire beneficial ownership at any time within 60 days, including, but not limited to, any
right to acquire such security: (i) through the exercise of any option, warrant or right, (ii) through the conversion of any security
or (iii) pursuant to the power to revoke, or the automatic termination of, a trust, discretionary account or similar arrangement.

 

It is possible that a security
may have more than one “beneficial owner,” such as a trust, with two co-trustees sharing voting power, and the settlor
or another third party having investment power, in which case each of the three would be the “beneficial owner” of
the securities in the trust. The power to vote or direct the voting, or to invest or dispose of, or direct the investment or disposition
of, a security may be indirect and arise from legal, economic, contractual or other rights, and the determination of beneficial
ownership depends upon who ultimately possesses or shares the power to direct the voting or the disposition of the security.

 

    	 	20	 

     

    

 

The final determination of the
existence of beneficial ownership depends upon the facts of each case. You may, if you believe the facts warrant it, disclaim beneficial
ownership of securities that might otherwise be considered “beneficially owned” by you.

 

2 Affiliate:
An “affiliate” is a company or person that directly, or indirectly through one or more intermediaries, controls you,
or is controlled by you, or is under common control with you.

 

    	 	21	 

     

    

 

The undersigned agrees
to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective.

 

By signing below, the
undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through 5 and the inclusion
of such information in the Registration Statement and the related prospectus and any amendments or supplements thereto. The undersigned
understands that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration
Statement and the related prospectus and any amendments or supplements thereto.

 

IN WITNESS WHEREOF
the undersigned, by authority duly given, has caused this Selling Securityholder Notice and Questionnaire to be executed and delivered
either in person or by its duly authorized agent.

 

	BENEFICIAL OWNER (individual)	 	BENEFICIAL OWNER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature
	 	 	 
	 	 	 
	Signature (If Joint Tenants or Tenants in Common)	 	Print Name
	 	 	 
	 	 	 
	 	 	Title

 

PLEASE E-MAIL OR FAX A COPY OF THE COMPLETED
AND EXECUTED SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

 

Akoustis Technologies, Inc.

9805 Northcross Center Court, Suite H

Huntersville, NC 28078

Attention: Cindy C. Payne

Facsimile: (704) 997-5734

E-mail Address: cpayne@akoustis.com

 

    	 	22EXHIBIT 10.38

 

WARRANT

 

NEITHER THE SECURITIES REPRESENTED HEREBY
NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATES. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS
ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND THE APPLICABLE
STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. UNLESS SOLD PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE SECURITIES ACT, THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO
THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE STATE
SECURITIES LAWS.

 

AKOUSTIS TECHNOLOGIES, INC.

 

WARRANT 

 

	Warrant No. 2017PA-__	Original Issue Date:
	 	____________, 2017

 

Akoustis Technologies,
Inc., a Delaware corporation (the “Company”), hereby certifies that, for value received, [HOLDER] or its registered
assigns (the “Holder”), is entitled to purchase from the Company up to a total of [SHARES] shares of Common
Stock (each such share, a “Warrant Share” and all such shares, the “Warrant Shares”), at
any time and from time to time from and after the Original Issue Date and through and including ______, 2022 (the “Expiration
Date”), and subject to the following terms and conditions:

 

1.          Definitions.
As used in this Warrant, the following terms shall have the respective definitions set forth in this Section 1. Capitalized terms
that are used and not defined in this Warrant that are defined in the Agreement (as defined below) shall have the respective definitions
set forth in the Agreement.

 

“Brokers
Warrants” means warrants, including this Warrant, to purchase shares of Common Stock, which warrants were issued pursuant
to the agreement.

 

“Closing
Price” means, for any date of determination, the price determined by the first of the following clauses that applies:
(i) if the Common Stock is then listed or quoted on a Trading Market, the closing bid price per share of the Common Stock for such
date (or the nearest preceding date) on such market; (ii) if prices for the Common Stock are then quoted on the OTC Bulletin Board,
the closing bid price per share of the Common Stock for such date (or the nearest preceding date) so quoted; (iii) if prices for
the Common Stock are then reported in the OTC Markets, the most recent bid price per share of the Common Stock so reported; or
(iv) in all other cases, the fair market value of a share of Common Stock as determined by an independent qualified appraiser selected
in good faith and paid for by the Company.

 

“Common
Stock” means the common stock of the Company, par value $0.001 per share, and any securities into which such common stock
may hereafter be reclassified.

 

“Exercise Price” means
$9.00, subject to adjustment in accordance with Section 9.

 

“Agreement”
means the Placement Agency Agreement, to which the Company and Holder are parties, as amended by that certain Amendment to Placement
Agent Agreement between the Company and Holder.

 

“Fundamental
Transaction” means any of the following: (i) the Company effects any merger or consolidation of the Company with or into
another person, (ii) the Company effects any sale of all or substantially all of its assets in one or a series of related transactions,
(iii) any tender offer or exchange offer (whether by the Company or another person) is completed pursuant to which holders of Common
Stock are permitted to tender or exchange their shares for other securities, cash or property, or (iv) the Company effects any
reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property.

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

“Original
Issue Date” means the Original Issue Date first set forth on the first page of this Warrant or its predecessor instrument.

 

“Private
Placement” means the offering of a maximum of shares of Common Stock with par value of $.001 at a price of $9.00 per
share.

 

“Registration
Rights Agreement” means the Registration Rights Agreement to which the Company and various holders are parties.

 

“Trading
Day” means (i) a day on which the Common Stock is traded on a Trading Market (other than the OTC Bulletin Board), or
(ii) if the Common Stock is not listed on a Trading Market (other than the OTC Bulletin Board), a day on which the Common Stock
is traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on
any Trading Market, a day on which the Common Stock is quoted in the over-the-counter market as reported by the OTC Markets (or
any similar organization or agency succeeding to its functions of reporting prices); provided, that in the event that the Common
Stock is not listed or quoted as set forth in clauses (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day.

 

“Trading
Market” means whichever of the New York Stock Exchange, NYSE MKT, the NASDAQ Global Select Market, the NASDAQ Global
Market, the NASDAQ Capital Market or the OTC Bulletin Board on which the Common Stock is listed or quoted for trading on the date
in question.

 

2.           Registration
of Warrant. The Company shall register this Warrant upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.

 

3.           Registration
of Transfers. The Company shall register the transfer of any portion of this Warrant in the Warrant Register, upon surrender
of this Warrant, with the Form of Assignment attached hereto duly completed and signed, to the Company at its address specified
herein. Upon any such registration or transfer, a new Warrant to purchase Common Stock, in substantially the form of this Warrant
(any such new Warrant, a “New Warrant”), evidencing the portion of this Warrant so transferred shall be issued
to the transferee and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued
to the transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such
transferee of all of the rights and obligations of a holder of a Warrant.

 

4.           Exercise
and Duration of Warrants. 

 

(a)          This
Warrant shall be exercisable by the registered Holder in whole at any time and in part from time to time from the Original Issue
Date through and including the Expiration Date. At 5:30 p.m., Central time on the Expiration Date, the portion of this Warrant
not exercised prior thereto shall be and become void and of no value. The Company may not call or redeem any portion of this Warrant
without the prior written consent of the affected Holder.

 

(b)          Notwithstanding
anything to the contrary contained herein, the number of Warrant Shares that may be acquired by the Holder upon any exercise of
this Warrant (or otherwise in respect hereof) shall be limited to the extent necessary to insure that, following such exercise
(or other issuance), the total number of shares of Common Stock then beneficially owned by such Holder and its affiliates (as defined
under Rule 144, “Affiliates”) and any other persons whose beneficial ownership of Common Stock would be aggregated
with the Holder’s for purposes of Section 13(d) of the Exchange Act, does not exceed 4.999% of the total number of issued
and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such exercise). For
such purposes, beneficial ownership shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and
regulations promulgated thereunder. This provision shall not restrict the number of shares of Common Stock which a Holder may receive
or beneficially own in order to determine the amount of securities or other consideration that such Holder may receive in the event
of a Fundamental Transaction as contemplated in Section 9 of this Warrant. By written notice to the Company, the Holder may waive
the provisions of this Section 4(b) but any such waiver will not be effective until the 61st day after delivery of such notice,
nor will any such waiver effect any other Holder.

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

Notwithstanding
anything to the contrary contained herein, the number of Warrant Shares that may be acquired by the Holder upon any exercise of
this Warrant (or otherwise in respect hereof) shall be limited to the extent necessary to insure that, following such exercise
(or other issuance), the total number of shares of Common Stock then beneficially owned by such Holder and its Affiliates and any
other persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d)
of the Exchange Act, does not exceed 9.999% of the total number of issued and outstanding shares of Common Stock (including for
such purpose the shares of Common Stock issuable upon such exercise). For such purposes, beneficial ownership shall be determined
in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. This provision shall
not restrict the number of shares of Common Stock which a Holder may receive or beneficially own in order to determine the amount
of securities or other consideration that such Holder may receive in the event of a Fundamental Transaction as contemplated in
Section 9 of this Warrant. This restriction may not be waived.

 

5.           Delivery
of Warrant Shares. 

 

(a)          To
effect exercises hereunder, the Holder shall not be required to physically surrender this Warrant unless the aggregate Warrant
Shares represented by this Warrant are being exercised. Upon delivery of the Exercise Notice (in the form attached hereto) to the
Company (with the attached Warrant Shares Exercise Log) at its address for notice set forth herein and upon payment of the Exercise
Price multiplied by the number of Warrant Shares that the Holder intends to purchase hereunder, the Company shall promptly (but
in no event later than three Trading Days after the Date of Exercise (as defined herein)) issue and deliver to the Holder, a certificate
for the Warrant Shares issuable upon such exercise, which, unless otherwise required by applicable law, shall be free of restrictive
legends. The Company shall, upon request of the Holder and subsequent to the date on which a registration statement covering the
resale of the Warrant Shares has been declared effective by the Securities and Exchange Commission, use its reasonable best efforts
to deliver Warrant Shares hereunder electronically through the Depository Trust Corporation or another established clearing corporation
performing similar functions, if available, provided, that, the Company may, but will not be required to change its transfer agent
if its current transfer agent cannot deliver Warrant Shares electronically through the Depository Trust Corporation. A “Date
of Exercise” means the date on which the Holder shall have delivered to the Company: (i) the Exercise Notice (with the
Warrant Exercise Log attached to it), appropriately completed and duly signed and (ii) if such Holder is not utilizing the cashless
exercise provisions set forth in this Warrant, payment of the Exercise Price for the number of Warrant Shares so indicated by the
Holder to be purchased.

 

(b)          If
by the third Trading Day after a Date of Exercise the Company fails to deliver the required number of Warrant Shares in the manner
required pursuant to Section 5(a), then the Holder will have the right to rescind such exercise.

 

(c)          If
by the third Trading Day after a Date of Exercise the Company fails to deliver the required number of Warrant Shares in the manner
required pursuant to Section 5(a), and if after such third Trading Day and prior to the receipt of such Warrant Shares, the Holder
purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale by the Holder
of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company
shall (1) pay in cash to the Holder the amount by which (x) the Holder’s total purchase price (including brokerage commissions,
if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (A) the number of Warrant Shares
that the Company was required to deliver to the Holder in connection with the exercise at issue by (B) the closing bid price of
the Common Stock at the time of the obligation giving rise to such purchase obligation and (2) at the option of the Holder, either
reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored or deliver
to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise
and delivery obligations hereunder. The Holder shall provide the Company written notice indicating the amounts payable to the Holder
in respect of the Buy-In.

 

(d)          The
Company’s obligations to issue and deliver Warrant Shares in accordance with the terms hereof are absolute and unconditional,
irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof,
the recovery of any judgment against any person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation
or termination, or any breach or alleged breach by the Holder or any other person of any obligation to the Company or any violation
or alleged violation of law by the Holder or any other person, and irrespective of any other circumstance which might otherwise
limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Nothing herein shall limit
a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely deliver certificates
representing Warrant Shares upon exercise of the Warrant as required pursuant to the terms hereof.

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

6.           Charges,
Taxes and Expenses. Issuance and delivery of Warrant Shares upon exercise of this Warrant shall be made without charge to the
Holder for any issue or transfer tax, withholding tax, transfer agent fee or other incidental tax or expense in respect of the
issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however, that the Company
shall not be required to pay any tax which may be payable in respect of any transfer involved in the registration of any certificates
for Warrant Shares or Warrants in a name other than that of the Holder. The Holder shall be responsible for all other tax liability
that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.

 

7.           Replacement
of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange
and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon
receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity
(which shall not include a surety bond), if requested. Applicants for a New Warrant under such circumstances shall also comply
with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company may prescribe.
If a New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated Warrant
to the Company as a condition precedent to the Company’s obligation to issue the New Warrant.

 

8.           Reservation
of Warrant Shares. The Company covenants that it will at all times reserve and keep available out of the aggregate of its authorized
but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise
of this Warrant as herein provided, the number of Warrant Shares which are then issuable and deliverable upon the exercise of this
entire Warrant, free from preemptive rights or any other contingent purchase rights of Persons other than the Holder (taking into
account the adjustments and restrictions of Section 9). The Company covenants that all Warrant Shares so issuable and deliverable
shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly
authorized, issued and fully paid and nonassessable.

 

9.           Certain
Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment
from time to time as set forth in this Section 9.

 

(a)          Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding, (i) pays a stock dividend on its Common
Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides
outstanding shares of Common Stock into a larger number of shares, or (iii) combines outstanding shares of Common Stock into a
smaller number of shares, then in each such case the Exercise Price shall be adjusted to equal the product obtained by multiplying
the then-current Exercise Price by a fraction of which the numerator shall be the number of shares of Common Stock outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record
date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause
(ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination.

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

(b)          Fundamental
Transactions. If, at any time while this Warrant is outstanding there is a Fundamental
Transaction, then the Holder shall have the right thereafter to receive, upon exercise of this Warrant, the same amount and kind
of securities, cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if
it had been, immediately prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise
in full of this Warrant (the “Alternate Consideration”). For purposes of any such exercise, the determination
of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate
Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion
the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components
of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any exercise of this Warrant following such Fundamental Transaction. At the Holder’s option and request, any successor to
the Company or surviving entity in such Fundamental Transaction shall, either (1) issue to the Holder a new warrant substantially
in the form of this Warrant and consistent with the foregoing provisions and evidencing the Holder’s right to purchase the
Alternate Consideration for the aggregate Exercise Price upon exercise thereof, or (2) purchase the Warrant from the Holder for
a purchase price, payable in cash within five Trading Days after such request (or, if later, on the effective date of the Fundamental
Transaction), equal to the Black Scholes value of the remaining unexercised portion of this Warrant on the date of such request.
The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor
or surviving entity to comply with the provisions of this paragraph (b) and insuring that the Warrant (or any such replacement
security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction. Notwithstanding
the foregoing, the Warrant holder will not be entitled to exchange these warrants for cash in any Fundamental Transaction that
is not approved by the Company’s board of directors or that occurs in a transaction or as a result of an event that was not
within the Company’s sole control.

 

(c)          Number
of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to this Section 9, the number of Warrant
Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after such
adjustment the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Shares shall be the same as the aggregate
Exercise Price in effect immediately prior to such adjustment.

 

(e)          Calculations.
 All calculations under this Section 9 shall be made to the nearest cent or the nearest 1/100th of a share, as applicable.
The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account
of the Company, and the disposition of any such shares shall be considered an issue or sale of Common Stock.

 

(f)          Notice
of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 9, the Company at its expense will promptly
compute such adjustment in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including
a statement of the adjusted Exercise Price and adjusted number or type of Warrant Shares or other securities issuable upon exercise
of this Warrant (as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon
which such adjustment is based. Upon written request, the Company will promptly deliver a copy of each such certificate to the
Holder and to the Company’s Transfer Agent.

 

10.        Payment
of Exercise Price.  The Holder may pay the Exercise Price in one of the following manners:

 

(a)         Cash
Exercise. The Holder may deliver immediately available funds; or

 

(b)         Cashless
Exercise. Pursuant to a Company Exercise, or if an Exercise Notice is delivered at a time when a registration statement permitting
the Holder to resell the Warrant Shares is not then effective or the prospectus forming a part thereof is not then available to
the Holder for the resale of the Warrant Shares, then the Holder may notify the Company in an Exercise Notice of its election to
utilize a cashless exercise, in which event the Company shall issue to the Holder the number of Warrant Shares determined as follows:

 

X = Y [(A-B)/A]

 

where:

 

X = the
number of Warrant Shares to be issued to the Holder.

 

Y = the
number of Warrant Shares with respect to which this Warrant is being exercised.

 

A = the average of the Closing
Prices for the five Trading Days immediately prior to (but not including) the Exercise Date.

 

B = the Exercise Price.

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

For purposes of Rule 144 promulgated under
the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless exercise transaction
shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced,
on the date this Warrant was originally issued.

 

11.        No
Fractional Shares.  No fractional shares of Warrant Shares will be issued in connection with any exercise of this Warrant.
In lieu of any fractional shares which would, otherwise be issuable, the Company shall pay cash equal to the product of such fraction
multiplied by the Closing Price of one Warrant Share on the date of exercise.

 

12.        Notices.
Any and all notices or other communications or deliveries hereunder (including, without limitation, any Exercise Notice) shall
be in writing and shall be deemed given and effective if provided pursuant to the Agreement. In case any time: (1) the Company
shall declare any cash dividend on its capital stock; (2) the Company shall pay any dividend payable in stock upon its capital
stock or make any distribution to the holders of its capital stock; (3) the Company shall offer for subscription pro rata to the
holders of its capital stock any additional shares of stock of any class or other rights; (4) there shall be any capital reorganization,
or reclassification of the capital stock of the Company, or consolidation or merger of the Company with, or sale of all or substantially
all of its assets to, another corporation; or (5) there shall be a voluntary or involuntary dissolution, liquidation or winding
up of the Company; then, in any one or more of said cases, the Company shall give prompt written notice to the Holder. Such notice
shall also specify the date as of which the holders of capital stock of record shall participate in such dividend, distribution
or subscription rights, or shall be entitled to exchange their capital stock for securities or other property deliverable upon
such reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation or winding up, or conversion or redemption,
as the case may be. Such written notice shall be given at least 20 days prior to the action in question and not less than 20 days
prior to the record date or the date on which the Company’s transfer books are closed in respect thereto.

 

13.        Registration
Rights. The Holder shall be entitled to the registration rights set forth in the Registration Rights Agreement.

 

14.        Lock
Up. In accordance with FINRA Rule 5110(g), this Warrant shall not be sold during the Private Placement, or sold, transferred,
assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction that would
result in the effective economic disposition of this Warrant or the Warrant Shares, by any person for a period of 180 days immediately
following the date of effectiveness or commencement of sales of the Private Placement, except as provided in paragraph (g)(2) of
FINRA Rule 5110.

 

16.        Miscellaneous.

 

(a)          This
Warrant shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns. Subject
to the preceding sentence, nothing in this Warrant shall be construed to give to any Person other than the Company and the Holder
any legal or equitable right, remedy or cause of action under this Warrant.

 

(b)          This
Warrant may be amended from time to time with the prior written consent of holders of Brokers Warrants exercisable for a majority
of the shares of Common Stock then issuable upon exercise of Brokers Warrants then outstanding; provided, however, that
the consent of the Holder shall be required for any amendment of this Warrant that would (i) increase the Exercise Price or decrease
the number of Warrant Shares purchasable upon exercise of this Warrant, except that such consent shall not be required for any
adjustment to the Exercise Price or the number of Warrant Shares purchasable if made pursuant to the provisions of Section 9, (ii)
alter the Company’s obligation to issue Warrant Shares upon exercise of this Warrant (other than pursuant to adjustments
otherwise provided for in this Warrant, including the adjustments provided for in Section 9), (iii) change the Expiration Date
of the Warrant to an earlier date, (iv) waive the application of the adjustments provisions contained in Section 9 in connection
with any events to which such provisions apply or otherwise modify the adjustment provisions contained in Section 9 in a manner
that would have an adverse economic impact on the Holder, or (v) treat the Holder differently in an adverse way from any other
holders of Brokers Warrants.

 

(c)          All
questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law
thereof.

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

(d)          The
headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any
of the provisions hereof.

 

(e)          In
case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability
of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby and the parties will
attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor,
and upon so agreeing, shall incorporate such substitute provision in this Warrant.

 

(f)          Prior
to exercise of this Warrant, the Holder hereof shall not, by reason of by being a Holder, be entitled to any rights of a stockholder
with respect to the Warrant Shares.

 

[Remainder of page intentionally left
blank, signature page follows] 

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

In witness whereof, the undersigned has caused this Warrant
to be duly executed by its authorized officer as of the date first indicated above.

 

	 	By:	 	 
	 	 	 	 	 
	 	If Entity By:	 	 
	 	 	 	 	 
	 	Name:	 	 
	 	 	 	 	 
	 	Title:	 	 

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

In witness whereof, the Company has caused this Warrant to be
duly executed by its authorized officer as of the date first indicated above. 

 

	 	AKOUSTIS TECHNOLOGIES, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

EXERCISE NOTICE

 

The undersigned Holder
hereby irrevocably elects to purchase                      shares
of Common Stock pursuant to the attached Warrant.  Capitalized terms used herein and not otherwise defined have the respective
meanings set forth in the Warrant.

 

(1) The undersigned Holder hereby exercises
its right to purchase                      Warrant
Shares pursuant to the Warrant.

 

(2) The Holder intends that payment of
the Exercise Price shall be made as (check one):

 

	 	            	“Cash Exercise” under Section 10 
	 	 	 
	 	            	“Cashless Exercise” under Section 10 

 

(3) If the Holder has elected a Cash Exercise,
the Holder shall pay the sum of $____________ to the Company in accordance with the terms of the Warrant.

 

(4) Pursuant to this Exercise Notice, the
Company shall deliver to the Holder                      Warrant
Shares in accordance with the terms of the Warrant.

 

	Dated ______________ __, _____	Name of Holder: 
	 	 	 
	 	 	(Print)
	 	 	 
	 	 	 
	 	 	 
	 	 	By:	 
	 	 	Title:	 
	 	 	(Signature must conform in all respects to name of holder as specified on the face of the Warrant)

 

    
	Placement Agency Agreement (PIPE)	Attachment A

     

    

 

Warrant Shares Exercise Log

 

	Date	 	Number of Warrant

Shares Available

to be Exercised	 	Number of Warrant

Shares Exercised	 	Number of Warrant

Shares Remaining

to be Exercised
	 	 	 	 	 	 	 

 

    
	Placement Agency Agreement (PIPE)	Attachment I

     

    

 

FORM OF ASSIGNMENT

 

[To be completed and
signed only upon transfer of Warrant]

 

FOR VALUE RECEIVED,
the undersigned hereby sells, assigns and transfers unto                              the
right represented by the attached Warrant to purchase                  shares
of Common Stock to which such Warrant relates and appoints                              attorney
to transfer said right on the books of the Company with full power of substitution in the premises.

 

	Dated: __________ __, _______	 	 
	 	 	 
	 	 	 
	 	(Signature must conform in all respects to name of holder as specified on the face of the Warrant)	 
	 	 	 
	 	Address of Transferee	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

	Attest:	 	 

 

    
	Placement Agency Agreement (PIPE)	Attachment I

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