2017 DECLARATION OF AMENDMENT TO
2014 STOCK PLAN
THIS 2017 DECLARATION OF AMENDMENT, is made effective as of the 11th day of September, 2017, by Akoustis Technologies, Inc., a Delaware corporation (the “Company”), to the Akoustis, Inc. 2014 Stock Plan (the “Plan”). Capitalized terms used but not defined herein shall have the meaning ascribed to them in the Plan.
R E C I T A L S:
WHEREAS, the Board of Directors of the Company has deemed it advisable to amend Section 12 of the Plan to enhance the liquidity of Shares issued under the Plan; and
WHEREAS, the Company desires to evidence such amendment by this 2017 Declaration of Amendment.
NOW, THEREFORE, IT IS DECLARED that Section 12 of the Plan shall be and hereby is amended by deleting Section 12 in its entirety and inserting the following in lieu thereof:
|12)||Lapse of Restrictions. Any restriction on the Shares underlying an Award contained in an Option Agreement, Restricted Stock Purchase Agreement, or other applicable written agreement requiring that all transferees of the Shares underlying an Award receive and hold the Shares subject to the terms of the applicable agreement (including, insofar as applicable, terms relating to transfer restrictions, rights of first refusal, and the obligation to enter into certain requested lockup agreements), shall lapse upon the vesting and, to the extent applicable, exercise of the applicable Award.|
IN WITNESS WHEREOF, this 2017 Declaration of Amendment is executed on behalf of Akoustis Technologies, Inc., effective as of the day and year first above written.
|AKOUSTIS TECHNOLOGIES, INC.|
/s/ Jeffrey B. Shealy
|Jeffrey B. Shealy|
|Chief Executive Officer|
/s/ John T. Kurtzweil________
John T. Kurtzweil
Chief Financial Officer