Document:

Exhibit
4.3

 

THIS
NOTE IS A GLOBAL NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY
OR A NOMINEE THEREOF. THIS NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS SECURITY
IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

 

UNLESS
THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”),
TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE
NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREUNDER
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE,
OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN. 

 

ANY
TRANSFER OF ALL OR PART OF A NOTE MAY BE EFFECTED ONLY BY REGISTRATION OF SUCH TRANSFER ON THE REGISTER KEPT BY THE SECURITY REGISTRAR. 

 

AKOUSTIS
TECHNOLOGIES, INC. 

6.5%
Convertible Senior Note due 2023

 

No. [●]
Initially $[●]

 

CUSIP
No. 00973N AC6

 

Akoustis
Technologies, Inc., a corporation duly organized and validly existing under the laws of the State of Delaware (the “Company,”
which term includes any successor corporation or other entity under the Indenture referred to on the reverse hereof), for value
received hereby promises to pay to CEDE & CO., or registered assigns, the principal sum as set forth in the “Schedule
of Exchanges of Notes” attached hereto, which amount, taken together with the principal amounts of all other outstanding
Notes, shall not, unless permitted by the Indenture, exceed $10,000,000 in aggregate at any time in accordance with the rules and
the Applicable Procedures of the Depositary, on November 30, 2023, and interest thereon as set forth below.

 

This
Note shall bear interest at the rate of 6.5% per year from October 23, 2018 or from the most recent date to which interest had
been paid or duly provided for to, but excluding, the next scheduled Interest Payment Date until November 30, 2023. Interest is
payable quarterly in arrears on February 28, May 31, August 31 and November 30, commencing on February 28, 2019, to Holders of
record at the close of business on the preceding February 15, May 15, August 15 or November 15 (whether or not such day is a Business
Day), respectively. Special Interest will be payable as set forth in the within-mentioned Indenture, and any reference to interest
on, or in respect of, any Note therein shall be deemed to include Special Interest if, in such context, Special Interest is, was
or would be payable pursuant to the within-mentioned Indenture, and any express mention of the payment of Special Interest in
any provision therein shall not be construed as excluding Special Interest in those provisions thereof where such express mention
is not made.

 

The
Company shall pay the Principal of and Interest on this Note, if and so long as such Note is a Global Note, in immediately available
funds to the Depositary or its nominee, as the case may be, as the registered Holder of such Note. The Company shall pay the Principal
of and Interest on this Note, if and so long as such Note is a Physical Note by check mailed to the address of the Holder of this
Note specified in the Securities Register, or, upon written application by a Holder of an aggregate Principal Amount of greater
than U.S. $2 million to the Registrar setting forth wire instructions not later than ten (10) days prior to the relevant payment
date, such Holder may receive payment by wire transfer in immediately available funds, in such lawful money of the United States
of America as at the time of payment shall be legal tender for the payment of public and private debts. The Company has initially
designated the Trustee as its Paying Agent, Conversion Agent and Registrar in respect of the Notes and its agency in the Borough
of Manhattan, The City of New York, as a place where Notes may be presented for payment or for registration of transfer and exchange.
The Company may change any Paying Agent, Conversion Agent or Registrar without notice to any Holder. The Company or any of its
Subsidiaries may act as Paying Agent or Registrar.

 

     

     

    

 

Reference
is made to the further provisions of this Note set forth on the reverse hereof, including, without limitation, provisions giving
the Holder of this Note the right to convert this Note into shares of Common Stock of the Company and the right of the Holder
of this Note to require the Company to repurchase this Note and upon certain events, in each case, on the terms and subject to
the limitations set forth in the Indenture. Such further provisions shall for all purposes have the same effect as though fully
set forth at this place. Capitalized terms used in this Note and not defined in this Note shall have the respective meanings set
forth in the Indenture.

 

This
Note, and any claim, controversy or dispute arising under or related to this Note, shall be construed in accordance with and governed
by the laws of the State of New York.

 

In
the case of any conflict between this Note and the Indenture, the provisions of the Indenture shall control and govern.

 

This
Note shall not be valid or become obligatory for any purpose until the certificate of authentication hereon shall have been signed
manually or by facsimile by the Trustee or a duly authorized authenticating agent under the Indenture.

 

The
Company will furnish to any Holder upon written request and without charge a copy of the Indenture.  Requests may be made
to:

 

Akoustis
Technologies, Inc.

9805 Northcross Center Court

Suite
A

Huntersville,
NC 28078

Attention:  President

 

[Remainder
of page intentionally left blank]

 

     

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Note to be duly executed.

 

	 	AKOUSTIS TECHNOLOGIES, INC.
	 	 
	 	By:
	 	Name:
	 	Title:
	 	 
	 	By:
	 	Name:
	 	Title:

 

[Signature
Page – Akoustis Technologies, Inc. – 6.5% Convertible Senior Note due 2023]

 

     

     

    

 

	Dated:	 	 	 

 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

 

THE
BANK OF NEW YORK MELLON TRUST COMPANY, N.A.

as
Trustee, certifies that this is one of the Notes described

in
the within-named Indenture.

 

	By:	 	 
	 	Authorized
    Signatory	 

 

[Signature
Page – Akoustis Technologies, Inc. – 6.5% Convertible Senior Note due 2023]

 

     

     

    

 

AKOUSTIS
TECHNOLOGIES, INC.

6.5%
Convertible Senior Note due 2023

 

This
Note is one of a duly authorized issue of Notes of the Company, designated as its 6.5% Convertible Senior Notes due 2023 (the
“Notes”), limited to the aggregate principal amount of $10,000,000, all issued or to be issued under and pursuant
to an Indenture dated as of October 23, 2018 (the “Base Indenture” as it may be amended or supplemented from
time to time), by and among the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”),
as supplemented by the First Supplemental Indenture dated as of October 23, 2018, between the Company and the Trustee (the “First
Supplemental Indenture”, and together with the Base Indenture, the “Indenture”) to which Indenture
and all indentures supplemental thereto reference is hereby made for a description of the rights, limitations of rights, obligations,
duties and immunities thereunder of the Trustee, the Company and the Holders of the Notes.

 

The
indebtedness evidenced by the Notes constitute a senior general unsecured obligation of the Company ranking equally in right of
payment with all existing and future senior unsecured indebtedness of the Company and ranking senior in right of payment to any
future indebtedness of the Company that is expressly made subordinate to the Notes by the terms of such indebtedness.  The
Company has the right to incur capital lease obligations and purchase money indebtedness for the purpose of financing the purchase
price or cost of equipment used in its and its subsidiaries’ production lines and up to an additional $1 million of such
indebtedness for other purposes. The Notes rank junior to any such indebtedness to the extent of the assets acquired with
the proceeds thereof.

 

The
interest rate to be borne by this Note shall be subject to increase as required to pay Special Interest pursuant to, and as set
forth in, the Indenture.

 

The
Notes may not be redeemed at the option of the Company at any time prior to November 30, 2019.

 

At
any time and from time to time on or after November 30, 2019 the Company may, pursuant to Article 3 of the Indenture, redeem all
or a portion of the Notes at a redemption price equal to 100% of the Principal Amount plus accrued and unpaid Interest on such
Principal if any, as follows:

 

		(i)	on
                                         or after November 30, 2019, if the Closing Sale Price of the Common Stock is greater
                                         than 175% of the then effective Conversion Price for each of 20 of any 30 consecutive
                                         Trading Days immediately preceding the applicable Optional Redemption Notice;

		(ii)	on
                                         or after November 30, 2020, if the Closing Sale Price of the Common Stock is greater
                                         than 150% of the then effective Conversion Price for each of 20 of any 30 consecutive
                                         Trading Days immediately preceding the applicable Optional Redemption Notice;

		(iii)	on
                                         or after November 30, 2021, if the Closing Sale Price of the Common Stock is greater
                                         than 125% of the then effective Conversion Price for each of 20 of any 30 consecutive
                                         Trading Days immediately preceding the applicable Optional Redemption Notice;

 

If
the Company elects to exercise the Optional Redemption Right, the Company will make an Interest Make-Whole Payment to the Holder
of such redeemed Note in cash in an amount equal to the sum of the remaining scheduled payments of Interest that would have been
made on the Notes to be converted had such Notes remained outstanding from the Optional Redemption Date through and including
the Stated Maturity, provided, that the Company shall have the option to make any Interest Make-Whole Payment in Freely Tradeable
Common Stock, as determined by the Company pursuant to, and to the extent permitted by, the Indenture.

 

On
November 30, 2021, the Holder may, pursuant to Section 3.08 of the Indenture, elect to require the Company to redeem all (but
not less than all) of the Notes at a purchase price in cash equal to 100% of the Principal Amount to be repurchased, plus accrued
and unpaid Interest to, and including, the Holder Optional Redemption Date.

 

In
case certain Events of Default shall have occurred and be continuing, the Principal of, and Interest on, all Notes may be declared,
by either the Trustee or Holders of at least 25% in aggregate Principal amount of Notes then outstanding, and upon said declaration
shall become, due and payable, in the manner, with the effect and subject to the conditions and certain exceptions set forth in
the Indenture.

 

     

     

    

 

Subject
to the terms and conditions of the Indenture, the Company will make all payments and deliveries in respect of the Fundamental
Change Repurchase Price on the Fundamental Change Repurchase Date and the Principal amount on the Stated Maturity, as the case
may be, to the Holder who surrenders a Note to a Paying Agent to collect such payments in respect of the Note. The Company shall
pay cash amounts in money of the United States that at the time of payment is legal tender for payment of public and private debts.

 

The
Indenture contains provisions permitting the Company and the Trustee in certain circumstances, without the consent of the Holders
of the Notes, and in certain other circumstances, with the consent of the Majority Holders, evidenced as in the Indenture provided,
to modify the terms of the Indenture and the Notes as described therein. It is also provided in the Indenture that, subject to
certain exceptions, the Majority Holders may on behalf of the Holders of all of the Notes waive any past Default or Event of Default
under the Indenture and its consequences.

 

Each
Holder shall have the right to receive payment or delivery, of (x) the Principal (including the Fundamental Change Repurchase
Price, if applicable) of, (y) accrued and unpaid Interest, if any, on, and (z) the consideration due upon conversion
of, this Note at the place, at the respective times, at the rate and in the lawful money and/or Freely Tradeable Common Stock,
as the case may be, as determined by the Company pursuant to, and to the extent permitted by, the Indenture.

 

The
Notes are issuable in registered form without coupons in denominations of $1,000 principal amount and integral multiples thereof.
At the office or agency of the Company designated by the Company for such purpose under the Indenture, and in the manner and subject
to the limitations provided in the Indenture, Notes may be exchanged for a like aggregate Principal Amount of Notes of other authorized
denominations, without payment of any service charge but, if required by the Company or Trustee, with payment of a sum sufficient
to cover any transfer or similar tax that may be imposed in connection therewith as a result of the name of the Holder of the
new Notes issued upon such exchange of Notes being different from the name of the Holder of the old Notes surrendered for such
exchange. The Trustee and the Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents. 

 

Subject
to the provisions of the Indenture, the Holder hereof has the right, at its option, prior to the close of business on the Business
Day immediately preceding the Maturity Date, to convert any Notes or portion thereof that is $1,000 or an integral multiple thereof,
into shares of Common Stock at the Conversion Rate specified in the Indenture, as adjusted from time to time as provided in the
Indenture.

 

Upon
the occurrence of a Fundamental Change, the Holder has the right, at such Holder’s option, to require the Company to repurchase
for cash all of such Holder’s Notes or any portion thereof (in Principal Amounts of $1,000 or integral multiples thereof)
on the Fundamental Change Repurchase Date at a price equal to the Fundamental Change Repurchase Price. If any Holder elects to
convert its Note in connection with a Qualifying Fundamental Change, the Company will make a Qualifying Fundamental Change Payment
as provided in the Indenture.

 

If
money for the payment of Principal or Interest, if any, remains unclaimed for two years, the Trustee or Paying Agent shall pay
the money back to the Company at its written request, subject to applicable unclaimed property laws. After that, Holders entitled
to money must look to the Company for payment as general creditors unless applicable abandoned property law designates another
person.

 

Pursuant
to a recommendation promulgated by the Committee on Uniform Security Identification Procedures, the Company has caused CUSIP numbers
to be printed on the Notes and the Trustee may use CUSIP numbers in notices of redemption or repurchase as a convenience to Holders.
No representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption
and reliance may be placed only on the other identification numbers placed thereon.

 

     

     

    

  

 ABBREVIATIONS

 

The
following abbreviations, when used in the inscription of the face of this Note, shall be construed as though they were written
out in full according to applicable laws or regulations:

 

TEN
COM = as tenants in common

 

UNIF
GIFT MIN ACT = Uniform Gifts to Minors Act

 

CUST
= Note Custodian

 

TEN
ENT = as tenants by the entireties

 

JT
TEN = joint tenants with right of survivorship and not as tenants in common

 

Additional
abbreviations may also be used though not in the above list.

 

     

     

    

 

AKOUSTIS
TECHNOLOGIES, INC.

6.5%
Convertible Senior Note due 2023

 

SCHEDULE
OF EXCHANGES OF NOTES

 

The
initial Principal Amount of this Global Note is [__________________] ($[●]). The following increases or decreases in this
Global Note have been made:

 

	Date
    of exchange	 	Amount
    of

    decrease in

    principal amount

    of this Global Note	 	Amount
    of

    increase in

    principal amount

    of this Global Note	 	Principal
    amount

    of this Global Note

    following such

    decrease or

    increase	 	Signature
    of

    authorized

    signatory of

    Trustee or Note

    Custodian
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 

 

     

     

    

 

AKOUSTIS
TECHNOLOGIES, INC.

6.5%
Convertible Senior Note due 2023

 

ATTACHMENT
1

 

FORM OF
NOTICE OF CONVERSION

 

To:      Akoustis
Technologies, Inc.  

            9805
Northcross Center Court

            Suite A

            Huntersville, NC 28078      

 

            The
Bank of New York Mellon Trust Company, N.A., as Conversion Agent  

            10161
Centurion Parkway N.

            Jacksonville, Florida 32256 

            Attention: Corporate Trust Administration

 

The
undersigned registered owner of this Note hereby exercises the option to convert this Note, or the portion hereof (that is $1,000
in principal amount or an integral multiple thereof) below designated, into shares of Common Stock in accordance with the terms
of the Indenture referred to in this Note, and directs that the shares of Common Stock issuable and deliverable upon such conversion,
together with any cash for any fractional share of Common Stock and cash payable for a Qualifying Fundamental Change Payment,
if applicable, and any Notes representing any unconverted Principal amount hereof, be issued and delivered to the registered Holder
hereof unless a different name has been indicated below. If any shares of Common Stock or any portion of this Note not converted
are to be issued in the name of a Person other than the undersigned, the undersigned will pay all documentary, stamp or similar
issue or transfer taxes, if any in accordance with Section 9.02(d) and Section 9.02(e) of the
Indenture. Any amount required to be paid to the undersigned on account of Interest accompanies this Note. Capitalized terms used
herein but not defined shall have the meanings ascribed to such terms in the Indenture.

 

	Dated:	 	 
	 	 	 
	 	 	Signature(s)
	 	 	 
	Signature
    Guarantee	 	 
	 	 	 
	Signature(s) must
    be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions)
    with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15
    if shares of Common Stock are to be issued, or Notes are to be delivered, other than to and in the name of the registered
    holder.	 	 
	 	 	 
	Fill
    in for registration of shares if to be issued, and Notes if to be delivered, other than to and in the name of the registered
    holder:	 	 
	 	 	 
	(Name)	 	 
	 	 	 
	(Street
    Address)	 	 
	 	 	 
	(City,
    State and Zip Code)	 	 
	Please
    print name and address	 	 

 

     

     

    

 

	 	 	Principal
    amount to be converted (if less than all): $  ,000
	 	 	 
	 	 	NOTICE:
    The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note
    in every particular without alteration or enlargement or any change whatever.
	 	 	 
	 	 	Social
    Security or Other Taxpayer Identification Number

 

     

     

    

 

AKOUSTIS
TECHNOLOGIES, INC.

6.5%
Convertible Senior Note due 2023

 

ATTACHMENT
2

 

FORM OF
REPURCHASE NOTICE

 

To:      Akoustis
Technologies, Inc.  

            9805
Northcross Center Court

            Suite A

            Huntersville, NC 28078      

 

            The
Bank of New York Mellon Trust Company, N.A., as Paying Agent  

            10161
Centurion Parkway N.

            Jacksonville, Florida 32256 

            Attention: Corporate Trust Administration

 

The
undersigned registered owner of this Note hereby acknowledges receipt of a Holder Optional Redemption Notice from Akoustis Technologies, Inc.
(the “Company”) specifying the Holder Optional Redemption Date and requests and instructs the Company to pay
to the registered holder hereof in accordance with Section 3.08 of the Indenture referred to in this Note (1) the
entire Principal amount of this Note, and (2) if such Holder Optional Redemption Date does not fall during the period after
a Regular Record Date and on or prior to the corresponding Interest Payment Date, accrued and unpaid Interest, if any, thereon
to, and including, such Holder Optional Redemption Date. Capitalized terms used herein but not defined shall have the meanings
ascribed to such terms in the Indenture.

 

In
the case of Physical Notes, the certificate numbers of the Notes to be repurchased are as set forth below:

 

	Dated:	 	 
	 	 	 
	 	 	Signature(s)
	 	 	 
	 	 	Social
    Security or Other Taxpayer Identification Number
	 	 	 
	 	 	NOTICE:
    The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note
    in every particular without alteration or enlargement or any change whatever.

 

     

     

    

 

AKOUSTIS
TECHNOLOGIES, INC.

6.5%
Convertible Senior Note due 2023

 

ATTACHMENT
3

 

FORM OF
FUNDAMENTAL CHANGE REPURCHASE NOTICE

 

To:       Akoustis
Technologies, Inc.  

             9805
Northcross Center Court

             Suite A

             Huntersville, NC 28078      

 

             The
Bank of New York Mellon Trust Company, N.A., as Paying Agent  

             10161
Centurion Parkway N.

             Jacksonville, Florida 32256 

             Attention: Corporate Trust Administration

 

The
undersigned registered owner of this Note hereby acknowledges receipt of a notice from Akoustis Technologies, Inc. (the “Company”)
as to the occurrence of a Fundamental Change with respect to the Company and specifying the Fundamental Change Repurchase Date
and requests and instructs the Company to pay to the registered holder hereof in accordance with Section 10.01 of
the Indenture referred to in this Note (1) the entire Principal amount of this Note, or the portion thereof (that is $1,000
principal amount or an integral multiple thereof) below designated, and (2) if such Fundamental Change Repurchase Date does
not fall during the period after a Regular Record Date and on or prior to the corresponding Interest Payment Date, accrued and
unpaid Interest, if any, thereon to, but excluding, such Fundamental Change Repurchase Date. Capitalized terms used herein but
not defined shall have the meanings ascribed to such terms in the Indenture.

 

In
the case of Physical Notes, the certificate numbers of the Notes to be repurchased are as set forth below:

 

	Dated:	 	 
	 	 	 
	 	 	Signature(s)
	 	 	 
	 	 	Social
    Security or Other Taxpayer Identification Number
	 	 	 
	 	 	Principal
    amount to be repurchased (if less than all): $  ,000
	 	 	 
	 	 	NOTICE:
    The above signature(s) of the Holder(s) hereof must correspond with the name as written upon the face of the Note
    in every particular without alteration or enlargement or any change whatever.

 

     

     

    

 

AKOUSTIS
TECHNOLOGIES, INC.

6.5%
Convertible Senior Note due 2023

 

ATTACHMENT
4

 

FORM OF
ASSIGNMENT AND TRANSFER

 

For
value received,      hereby sell(s), assign(s) and transfer(s) unto      (Please
insert social security or Taxpayer Identification Number of assignee) the within Note, and hereby irrevocably constitutes and
appoints      as attorney to transfer the said Note on the books of the Company, with full power of substitution
in the premises.

 

	Dated:	 	 
	 	 	 
	Signature(s)	 	 
	 	 	 
	Signature
    Guarantee	 	 
	 	 	 
	Signature(s) must
    be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions)
    with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15
    if Notes are to be delivered, other than to and in the name of the registered holder.	 	 
	 	 	 
	NOTICE:
    The signature on the assignment must correspond with the name as written upon the face of the Note in every particular without
    alteration or enlargement or any change whatever.Exhibit 4.4

 

 

 

AKOUSTIS TECHNOLOGIES, INC.

 

and 

 

THE BANK OF NEW YORK MELLON TRUST COMPANY,
N.A.

as Trustee 

 

 

 

FIRST SUPPLEMENTAL INDENTURE 

 

dated as of October 18, 2018 

 

to 

 

INDENTURE 

 

dated as of May 14, 2018 

 

 

 

6.5% CONVERTIBLE SENIOR SECURED NOTES
DUE 2023

 

 

 

     

    

    

 

THIS FIRST SUPPLEMENTAL
INDENTURE dated as of October 18, 2018 (this “Supplemental Indenture”), is between AKOUSTIS TECHNOLOGIES, INC.,
a Delaware corporation (hereinafter called the “Company”), the guarantors listed on the signature page hereto
(the “Guarantors”) and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as trustee (the “Trustee”)
under the Indenture, dated as of May 14, 2018 (the “Indenture”), among the Company, the Guarantors from time
to time party thereto and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee and as collateral agent. Capitalized terms
used in this Supplemental Indenture and not otherwise defined herein shall have the meanings assigned to such terms in the Indenture.

 

RECITALS

 

WHEREAS, pursuant to
the Indenture, the Company issued its 6.5% Convertible Senior Secured Notes due 2023 (the “Notes”) of which
$15,000,000 in aggregate principal amount are currently outstanding under the Indenture;

 

WHEREAS, Section 12.02
of the Indenture provides that the Company and the Trustee, with consent of the Majority Holders, may amend, supplement or waive
compliance with any provision of the Indenture, subject to the limitations set forth therein;

 

WHEREAS, the Company
desires to issue and sell convertible notes in the aggregate principal amount of $10,000,000 (the “2018 Additional Notes”)
pursuant to that certain Indenture to be dated on or about October 23, 2018, by and between the Company and The Bank of New York
Mellon Trust Company, N.A., as trustee, as supplemented by that certain Supplemental Indenture to be dated on or about October
23, 2018, by and between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee;

 

WHEREAS, the Company
desires to amend the Indenture, as set forth in Article I of this Supplemental Indenture, to permit issuance of the 2018 Additional
Notes and certain other amendments as further described herein (collectively, the “Proposed Amendments”);

 

WHEREAS, the Company
has solicited the consents of, among others, Holders constituting not less than the Majority Holders voting as a single class to
the Proposed Amendments and to the execution of this Supplemental Indenture;

 

WHEREAS the Company
has now obtained such consents from Holders constituting not less than the Majority Holders voting as a single class, and as such,
this Supplemental Indenture, the Proposed Amendments and the Trustee’s entry into this Supplemental Indenture are authorized
pursuant to Section 12.02 of the Indenture;

 

WHEREAS, the Company
has requested that the Trustee execute and deliver this Supplemental Indenture; and

 

WHEREAS, pursuant to
Section 12.02 of the Indenture, the execution and delivery of this Supplemental Indenture has been duly authorized by the parties
hereto and all other acts necessary to make this Supplemental Indenture a valid and binding supplement to the Indenture, effectively
amending the Indenture as set forth herein, have been duly taken by the Company and the Guarantors.

 

NOW, THEREFORE, in
consideration of the premises and the covenants and agreements contained herein, and for other good and valuable consideration,
the receipt of which is hereby acknowledged, and for the equal and proportionate benefit of the Holders of the Notes, each party
hereto hereby agrees as follows:

 

     

    

    

 

ARTICLE I

AMENDMENTS TO INDENTURE

 

Section 1.01 Amendments
to the Indenture. Pursuant to Section 12.02 of the Indenture, the Company and the Trustee (in the case of the Trustee, acting
in reliance upon the instructions and directions of Holders constituting not less than the Majority Holders obtained by the Company),
hereby agree to amend or supplement certain provisions of the Indenture as follows:

 

(a)       Amendment
to Section 5.07. Section 5.07 of the Indenture is amended by amending and restating clause (iii) to read as follows:

 

“(iii)
       make any payment on or with respect to, or purchase, redeem, defease or otherwise acquire
or retire for value any Indebtedness of the Company or any of its Subsidiaries that is contractually subordinated to the Notes
or any Note Guarantee (excluding any intercompany Indebtedness between or among the Company and any of its Subsidiaries), except
regularly scheduled payments of interest and a payment of principal at the maturity date; or”

 

(b)       Amendment
to Section 5.08. Section 5.08 of the Indenture is amended by (i) deleting the “and” at the end of subsection (x)
thereof, (ii) deleting the period at the end of subsection (xi) thereof and substituting “; and” therefor and (iii)
adding the following new subsection (xii) immediately thereafter:

 

“(xii)       the
2018 Additional Notes and the 2018 Additional Notes Indenture and any amendments, restatements, modifications, renewals, supplements,
refundings, replacements or refinancings of the foregoing, provided, that the amendments, restatements, modifications, renewals,
supplements, refundings, replacements or refinancings are not materially more restrictive with respect to such dividend and other
payment restriction than those contained therein on the date of their initial effectiveness.”

 

(c)       Amendment
to Section 5.09. Section 5.09 of the Indenture is amended by (i) deleting the period at the end of subsection (xii)
thereof and substituting “; and” therefor and (ii) adding the following new subsection (xiii) immediately thereafter:

 

“(xiii)       the
incurrence by the Company of unsecured Indebtedness arising from the Company’s 6.5% Convertible Notes, in the aggregate principal
amount of $10,000,000 (and any notes issued in substitution or replacement thereof in accordance with the 2018 Additional Notes
Indenture, the “2018 Additional Notes”), governed by that certain Indenture to be dated on or about October
23, 2018, by and between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented by that certain
Supplemental Indenture dated on or about October 23, 2018, by and between the Company and The Bank of New York Mellon Trust Company,
N.A., as trustee, each as amended, restated, supplemented or otherwise modified from time to time (collectively, the “2018
Additional Notes Indenture”), and the incurrence of Permitted Refinancing Indebtedness in respect thereof.”

 

(d)       Amendment
to Section 13.02. Section 13.02 of the Indenture is amended by deleting clause (a) thereof in its entirety and
substituting the following therefor:

 

“(a)       The
Company shall furnish to the Collateral Agent and the Trustee contemporaneously with the execution and delivery of this Indenture
and promptly after the execution and delivery of any Collateral Documents an Opinion of Counsel (i) stating that in the opinion
of such counsel such Collateral Documents are effective to create a Lien in the collateral described therein to the extent that
the Company or Guarantor, as applicable, has rights in or the power to transfer such collateral and creation of a Lien in such
collateral is governed by Article 9 of the UCC; and (ii) stating that in the opinion of such counsel, all action has been taken
with respect to the filing of any financing statements as is necessary to perfect the Lien in that portion of the collateral (x)
in which the Company or Guarantor, as applicable, has rights or the power to transfer, (y) the creation and perfection of a Lien
which is governed by Article 9 of the UCC and (z) in which a Lien can be perfected by filing a financing statement under the UCC.”

 

     

    

    

 

ARTICLE II

MISCELLANEOUS

 

Section 2.01 Capitalized
Terms. Any capitalized term used herein and not otherwise defined herein shall have the meaning assigned to such term in the
Indenture.

 

Section 2.02 Conditions
Precedent. The Company represents and warrants that each of the conditions precedent to the amendment and supplement of the
Indenture (including such conditions pursuant to Sections 12.02, 12.06, 17.06 and 17.07 of the Indenture) have been satisfied in
all respects. Pursuant to Section 12.02 of the Indenture, Holders constituting not less than the Majority Holders voting as a single
class have consented to the Proposed Amendments and authorized and directed the Trustee to execute this Supplemental Indenture
and to take all steps necessary to give effect to, and permit, the Proposed Amendments.

 

Section 2.03 Corresponding
Amendments. With effect on and from the date hereof, each Global Note shall be deemed supplemented, modified and amended in
such manner as necessary to make the terms of such Global Note consistent with the terms of the Indenture, as amended by this Supplemental
Indenture. To the extent of any conflict between the terms of the Notes and the terms of the Indenture, as amended by this Supplemental
Indenture, the terms of the Indenture, as amended by this Supplemental Indenture, shall govern and be controlling.

 

Section 2.04 Instruments
To Be Read Together; Entire Agreement. This Supplemental Indenture is executed as and shall constitute an indenture
supplemental to and in implementation of the Indenture, and said Indenture and this Supplemental Indenture shall henceforth be
read together. This Supplemental Indenture constitutes the entire agreement of the parties hereto with respect to the amendments
to the Indenture set forth herein.

 

Section 2.05 Ratification
of Indenture. The Indenture, as amended by this Supplemental Indenture, is in all respects ratified and confirmed and all the
terms, conditions and provisions thereof shall remain in full force and effect. Upon and after the execution of this Supplemental
Indenture, each reference in the Indenture, as amended by this Supplemental Indenture, to “this Indenture,” “hereunder,”
“hereof” or words of like import referring to the Indenture shall mean and be a reference to the Indenture, as amended
by this Supplemental Indenture. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder
shall be bound hereby.

 

Section 2.06 Headings.
The headings of the Articles and Sections of this Supplemental Indenture have been inserted for convenience of reference only,
and are not to be considered a part hereof and shall in no way modify or restrict any of the terms and provisions hereof.

 

Section 2.07 Responsibility
of Trustee. The recitals and statements contained herein shall be taken as the statements of the Company, and the Trustee makes
no representation with respect to any such matters and assumes no responsibility for their correctness. The Trustee makes no representations
as to the validity, adequacy or sufficiency of this Supplemental Indenture. The Trustee accepts the amendments of the Indenture
effected by this Supplemental Indenture and agrees to execute the trust created by the Indenture as hereby amended, but on the
terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting its liabilities and responsibilities
in the performance of the trust created by the Indenture as hereby amended. For the avoidance of doubt, the Trustee, by executing
this Supplemental Indenture in accordance with the terms of the Indenture, does not agree to undertake additional actions nor does
it consent to any transaction beyond what is expressly set forth in this Supplemental Indenture, and the Trustee reserves all rights
and remedies under the Indenture.

 

Section 2.08 Successors
and Assigns. All covenants and agreements in this Supplemental Indenture by the Company shall bind its successors and assigns.
All agreements of the Trustee in this Supplemental Indenture shall bind its successors.

 

Section 2.09 Severability.
In case any provision in this Supplemental Indenture or in the Notes 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.

 

Section 2.10 Benefits
of Supplemental Indenture. Nothing in this Supplemental Indenture, express or implied, shall give to any Person (other than
the parties hereto and their successors hereunder and the Holders) any benefit or any legal or equitable right, remedy or claim
under this Supplemental Indenture.

 

     

    

    

 

Section 2.11 Governing
Law. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT
REGARD TO PRINCIPLES OF CONFLICTS OF LAW THAT WOULD APPLY ANY OTHER LAW.

 

Section 2.12 Counterparts.
The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement.

 

[Signature pages follow]

 

     

    

    

 

IN WITNESS WHEREOF, the parties hereto
have caused this Supplemental Indenture to be duly executed, all as of the date first written above.

	 	 	 
	 	COMPANY:
	 	 
	 	AKOUSTIS TECHNOLOGIES, INC.
	 	 	 
	 	By:	
        /s/ John T. Kurtzweil

	 	Name:	John T. Kurtzweil
	 	Title:	Chief Financial Officer

 

	 	GUARANTOR:
	 	 
	 	AKOUSTIS, INC.
	 	 	 
	 	By:	
        /s/ John T. Kurtzweil

	 	Name:	John T. Kurtzweil
	 	Title:	Chief Financial Officer

 

	 	TRUSTEE:
	 	 
	 	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

 

	 	By:	
        /s/ R. Tarnas

	 	Name:	R. Tarnas
	 	Title:	Vice President

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