8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

July 9, 2015

(Date of the earliest event reported)

Simulations Plus, Inc.

(Exact name of registrant as specified in its charter)

California	001-32046	95-4595609
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

42505 10^th Street West, Lancaster, California 93534-7059

(Address of principal executive offices) (Zip Code)

661-723-7723

Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14z-12 under Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry Into a Material Definitive Agreement.

On July 9th, 2015, the Company renewed its Employment Agreement with Walter S. Woltosz to serve as Chief Executive Officer of the Company (the “Woltosz Employment Agreement”). The terms of the agreement were substantially the same as the 2014-2015 agreement. The new agreement has a one-year term that begins on September 1, 2015. Under the terms of the Woltosz Employment Agreement, Mr. Woltosz is required to devote a minimum of 60% of his productive time to the position of Chief Executive Officer of the Company. He will receive annual compensation of $180,000, be eligible to receive up to 12,000 Company stock options under the 2007 Simulations Plus, Inc. Stock Option Plan, as determined by the Company’s Board of Directors, and shall be paid an annual performance bonus of up to 5% of the Company’s net income before taxes not to exceed $36,000. A copy of the Woltosz Employment Agreement is attached hereto as Exhibit 99.3 and incorporated herein by reference.

Item 7.01 Regulation FD Disclosure

On July 13, 2015, Simulations Plus, Inc., a California corporation (the "Company"), issued a press release announcing that its board of directors has declared a quarterly cash dividend of $0.05 per share of common stock, payable on July 30, 2015 to shareholders of record on July 23, 2015.

A copy of press release is attached hereto as Exhibit 99.2 and incorporated herein by reference.

The information contained in this Current Report on Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth in this Current Report on Form 8-K shall not be deemed an admission as to the materiality of any information in this report on Current Report on Form 8-K that is required to be disclosed solely to satisfy the requirements of Regulation FD.

Item 8.01 Other Events

On July 13, 2015, Simulations Plus, Inc., a California corporation (the "Company"), held a conference call reporting its financial results for its third fiscal quarter and the nine months ended May 31, 2015.

The press release of July 13^th, 2015, and the PowerPoint slides that were used for this Conference Call, are attached herein as Exhibits 99.1 and 99.2.

This report on Form 8-K (the "Report"), including the disclosures set forth herein, contains certain forward-looking statements that involve substantial risks and uncertainties. When used herein, the terms "anticipates," "expects," "estimates," "believes" and similar expressions, as they relate to us or our management, are intended to identify such forward-looking statements.

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CAUTION REGARDING FORWARD-LOOKING STATEMENTS

Forward-looking statements in this Report or hereafter, including in other publicly available documents filed with the Securities and Exchange Commission (the "Commission"), reports to the stockholders of Simulations Plus, Inc., a California corporation (the "Company" or "us," "our" or "we") and other publicly available statements issued or released by us involve known and unknown risks, uncertainties and other factors which could cause our actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. Such future results are based upon management's best estimates based upon current conditions and the most recent results of operations. These risks include, but are not limited to, the risks set forth herein and in such other documents filed with the Commission, each of which could adversely affect our business and the accuracy of the forward-looking statements contained herein. Our actual results, performance or achievements may differ materially from those expressed or implied by such forward-looking statements.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 PowerPoint presentation at the Conference Call on July 13, 2015.

99.2 Press Release dated July 13, 2015

99.3 Employment Agreement with Walter S. Woltosz.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

SIMULATIONS PLUS, INC.

Dated: July 15, 2015	By: /s/ John R Kneisel
	John R. Kneisel
	Chief Financial Officer

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EX-99.1

Exhibit 99.1

Copyright (c) 2015 Simulations Plus, Inc. 1 Simulations Plus, Inc . and its wholly owned subsidiary Cognigen Corporation ( NASDAQ:SLP ) Investor Call July 13, 2015

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Copyright (c) 2015 Simulations Plus, Inc. 2 With the exception of historical information, the matters discussed in this presentation are forward - looking statements that involve a number of risks and uncertainties . The actual results of the Company could differ significantly from those statements . Factors that could cause or contribute to such differences include, but are not limited to : continuing demand for the Company’s products, competitive factors, the Company’s ability to finance future growth, the Company’s ability to produce and market new products in a timely fashion, the Company’s ability to continue to attract and retain skilled personnel, and the Company’s ability to sustain or improve current levels of productivity . Further information on the Company’s risk factors is contained in the Company’s quarterly and annual reports and filed with the Securities and Exchange Commission . Safe Harbor Statement

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Copyright (c) 2015 Simulations Plus, Inc. 3 Quarterly Highlights Walt Woltosz Chairman and Chief Executive Officer

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Copyright (c) 2015 Simulations Plus, Inc. 4 • Major provider of software and consulting services for pharmaceutical research and development • Expertise and software tools spanning from earliest drug discovery through clinical trials and beyond patent life to supporting generic companies • In addition to being a leader in model - based drug development, the company is now developing new applications in aerospace and general healthcare based on it’s machine - learning technologies • In 3QFY15, revenues increased by 58.9% to $5.9 million • Total revenues through the end of the third quarter were $14.6 million, up 54% over the prior year • In 3QFY15, diluted EPS increased 36.5% to $0.11 per share compared to same period last year • The board voted to continue distribution of a $0.05 per quarter dividend to be paid July 30 Simulations Plus, Inc. Overview

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Copyright (c) 2015 Simulations Plus, Inc. 5 • Software renewal rates 99%(fees) • 21 new software client sites added • Product releases • GastroPlus 9.0: biologics, dermal dosing, enhanced oral cavity dosing , enhanced ADMET Predictor integration • ADMET Predictor 7.2: new properties, retrained metabolism models, greater GastroPlus integration • KIWI 1.3: faster, enhanced exporting and comparison of models • Consulting services continue to grow Quarterly Highlights

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Copyright (c) 2015 Simulations Plus, Inc. 6 • AEROModeler™ ‒ Application of our artificial neural network ensemble (ANNE) technology to: ‒ Predict aerodynamic force coefficients for missiles at arbitrary Mach number and angle of attack ‒ Classify missiles from radar tracking data ‒ Presented at 3 aerospace conferences so far in 2015 ‒ New interest in liquid rocket motor combustion instability (NASA, USAF) • MRIModeler™ ‒ Application of our ANNE technology to analysis of magnetic resonance imaging (MRI) data to classify patients as healthy or likely to experience various disease states Simulations Plus, Inc. Growth Opportunities

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Copyright (c) 2015 Simulations Plus, Inc. 7 Financial Overview John Kneisel Chief Financial Officer

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Copyright (c) 2015 Simulations Plus, Inc. 8 Income Statement 3QFY15 Compared to 3QFY14 (in millions) SLP Cognigen 3QFY15 3QFY14 Diff % chg Net sales $ 4.54 $ 1.40 $ 5.94 $ 3.74 $ 2.20 58.9% Gross profit 3.92 0.90 4.83 3.52 1.31 37.3% Gross profit margin 86.4% 64.6% 81.2% 93.9% - 12.7% - 13.5% SG&A 1.13 0.49 1.62 1.20 0.42 34.9% R&D 0.32 0.03 0.35 0.24 0.11 48.1% Total operating expenses 1.45 0.53 1.97 1.44 0.53 37.1% Income from operations 2.47 0.38 2.85 2.07 0.78 37.6% Other income (expense) (0.03) 0 (0.03) 0.02 ( 0.05) (303%) Income from operations before income taxes 2.45 0.38 2.82 2.09 0.73 35.1% Net income $ 1.60 $ 0.26 $ 1.85 1.31 0.54 41.7% Diluted earnings per share (in dollars) $ 0.108 $ 0.080 $ 0.028 36.5% EBITDA 2.86 0.47 3.36 2.33 0.99 42.8%

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Copyright (c) 2015 Simulations Plus, Inc. 9 Income Statement 9moFY15 Compared to 9moFY14 (in millions) SLP Cog 9MoFY15 9moFY14 Diff % chg Net sales $ 10.80 $ 3.81 $ 14.60 $ 9.46 $ 5.14 54.3% Gross profit 9.12 2.24 11.36 8.29 3.07 37.0% Gross profit margin 84.5% 58.9% 75.4% 87.6% - 12.2% - 13.9% SG&A 3.75 1.56 5.30 3.38 1.92 57.0% R&D 0.93 0.06 0.98 0.75 0.23 30.8% Total operating expenses 4.68 1.61 6.29 4.13 2.16 52.2% Income from operations 4.45 0.63 5.08 4.17 0.91 21.9% Other income (expense) (0.06) - (0.06) 0.06 ( 0.12) (207%) Income from operations before income taxes 4.39 0.63 5.01 4.23 0.78 18.6% Net income $ 2.93 $ 0.42 $ 3.35 2.803 0.55 19.6% Diluted earnings per share (in dollars) $ 0.196 $ 0.170 $ 0.026 14.6% EBITDA 5.60 0.90 6.50 4.88 1.62 33.2%

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Copyright (c) 2015 Simulations Plus, Inc. 10 Consolidated Revenues, by Fiscal Quarter and YTD (pro forma prior to 2012; in millions) 4.01 4.57 5.99 $0 $1 $2 $3 $4 $5 $6 $7 Q1 Q2 Q3 Q4 2009 2010 2011 2012 2013 2014 2015 14.57 $0 $1 $2 $3 $4 $5 $6 $7 $8 $9 $10 $11 $12 $13 $14 $15 $16 YTD 9 Months 2009 2010 2011 2012 2013 2014 2015

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Copyright (c) 2015 Simulations Plus, Inc. 11 Consolidated Gross Profit, by Fiscal Quarter & YTD (pro forma prior to 2012; in millions) 3.09 3.45 4.83 $0 $1 $2 $3 $4 $5 $6 Q1 Q2 Q3 Q4 2009 2010 2011 2012 2013 2014 2015 11.37 $0 $1 $2 $3 $4 $5 $6 $7 $8 $9 $10 $11 $12 YTD 9 Months 2009 2010 2011 2012 2013 2014 2015

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Copyright (c) 2015 Simulations Plus, Inc. 12 Consolidated Net Income, by Fiscal Quarter and YTD (pro forma prior to 2012; in millions) $0.53 $0.97 $1.85 $- $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 $1.60 $1.80 $2.00 Q1 Q2 Q3 Q4 2009 2010 2011 2012 2013 2014 2015 $3.35 $- $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $4.00 YTD 9 Months 2009 2010 2011 2012 2013 2014 2015

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Copyright (c) 2015 Simulations Plus, Inc. 13 Consolidated Diluted Earnings per share by Fiscal Quarter and YTD $0.20 $0.00 $0.05 $0.10 $0.15 $0.20 $0.25 Q3 YTD EPS (9 months) FY09 FY10 FY11 FY12 FY13 FY14 FY15 0 0.02 0.04 0.06 0.08 0.1 0.12 Q1 Q2 Q3 Q4 $0.03 $0.06 $0.11 Quarterly EPS FY09 FY10 FY11 FY12 FY13 FY14 FY15

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Copyright (c) 2015 Simulations Plus, Inc. 14 Consolidated EBITDA, by Fiscal Quarter & YTD (in millions) 6.5 $0 $1 $2 $3 $4 $5 $6 $7 YTD 9 Months 2009 2010 2011 2012 1.45 1.97 3.33 $0 $1 $2 $3 $4 Q1 Q2 Q3 Q4 2009 2010 2011 2012 2013 2014 2015

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Copyright (c) 2015 Simulations Plus, Inc. 15 Selected Balance Sheet Items (in millions) May 31, 2015 August 31, 2014 Cash and cash equivalents $6.429* $8.614 Cash per share 0.38 0.52 Total current assets 11.823 11.533 Total assets 27.912 20.981 Total current liabilities 1.717 1.391 Total liabilities 8.095 5.545 Current ratio 6.89 8.29 Shareholders’ equity 19.817 15.435 Total liabilities and shareholders’ equity 27.912 20.981 Shareholders’ equity per diluted share 1.161 0.94 * Cash as of July 10, 2015 was $7.7 million

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Copyright (c) 2015 Simulations Plus, Inc. 16 Returning Cash to Shareholders (in millions) 1.6 0.8 0.8 2.2 0 0.5 0.5 0.6 0.81 0.81 0.81 0.84 0.84 0.84 13.2 12.9 12.7 11.4 9.3 9.8 10 10.1 10.6 11 7.8 8.6 5.8 6.1 6.4 7.7 $0 $1 $1 $2 $2 $3 $0 $2 $4 $6 $8 $10 $12 $14 Dividend Paid Cash on Hand Cash paid $2.5M TSRL Cash paid $2.1M for Cognigen

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Copyright (c) 2015 Simulations Plus, Inc. 17 Sales and Marketing John DiBella VP of Sales and Marketing

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Copyright (c) 2015 Simulations Plus, Inc. 18 • Version 9.0 released in May 2015 ‒ I ntegration with ADMET Predictor metabolism models – new add - on licensed by several clients ‒ PBPK models for biologics and dermal delivery – new add - on licensed by several clients • Version 7.2 released in May 2015 ‒ Significantly improved and expanded metabolism predictions – meaningful increase in revenue seen in FY15 ‒ Refresh of user interface slated for fall 2015 release – major marketing campaign planned • Version 4.0 & MedChem Designer 3.0 released in May 2014 ‒ Optical Structure Recognition (OSR) feature ‒ U ltra - fast screening methods for large molecular libraries • Version 5.0 slated for release in fall 2015 ‒ Coming soon: integration of ADMET Predictor models – new optional add - on ‒ Coming soon: upgraded handling of complex dosage forms/formulations • Version 1.0 released in November 2014 ‒ Integration with GastroPlus™ to accurately predict IVIVE for absorption processes ‒ Two license sales – changing marketing message to promote additional capabilities Simulations Plus Software Product News

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Copyright (c) 2015 Simulations Plus, Inc. 19 Consolidated FY15.3 Sales Review • Consolidated revenue increased 58.8% vs. FY14.3 – SLP revenue increased 21.4% • Highlights: – 94% renewal rate ( accounts) – 99% renewal rate (fees ) – Strong new license revenue • 21 new software clients – Chinese SFDA, US FDA, US EPA + companies in Taiwan, Korea, Japan, Brazil, US and Europe – PBPK c onsulting revenue increased 155% vs. FY14.3: • $157K from SLP • $107K from Cognigen 0 50 100 150 200 250 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter License Units FY13 FY14 FY15 61% 26% 12% 1% Renewal Consulting New Training

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Copyright (c) 2015 Simulations Plus, Inc. 20 New Software Customers: Fiscal & YTD 64 0 10 20 30 40 50 60 70 Q3 YTD 9 Months 2011 2012 2013 2014 2015 23 20 21 0 5 10 15 20 25 Q1 Q2 Q3 Q4 Quarterly 2011 2012 2013 2014 2015

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Copyright (c) 2015 Simulations Plus, Inc. 21 FY15.3 Software Sales – by Region Europe 30% North America 47% Asia 24% Japan = 63% China = 16% Korea = 8% India = 8% Other = 5 % South America <1%

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Copyright (c) 2015 Simulations Plus, Inc. 22 Marketing Activities – FY15.3 • Marketing group restructuring – Filled new Marketing Coordinator position to manage campaigns – Transitioned scientist into Business Development role • Conferences and scientific meetings – 16 scientific meetings attended; co - authors on 12 presentations • Trainings and workshops – Conducted training workshops in Germany, Korea, and Buffalo – Remaining 2015 workshops scheduled for Boston and Japan – Hosted numerous onsite training seminars at client sites • Strategic digital marketing initiatives – Hosted 2 webinars on our software updates and applications – Active updates: LinkedIn, Facebook, Google+, and Twitter accounts – Continued web - based advertising for all programs – 15 peer - reviewed publications citing use of software

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Copyright (c) 2015 Simulations Plus, Inc. 23 Cognigen Update Ted Grasela President

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Copyright (c) 2015 Simulations Plus, Inc. 24 Simulations Plus, Inc. Cognigen Growth Opportunities • Strategic and synergistic benefits of the Cognigen acquisition are being realized • Strong collaborations between our scientists have identified new and innovative ways of using modeling and simulation to bring valuable insights to our clients’ research and development programs • Social media and Email blasts emphasizing − Modeling & simulation services − Data Assembly services − KIWI™ functionality • Enhanced presence at national and international scientific meetings

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Copyright (c) 2015 Simulations Plus, Inc. 25 • 3QFY15 ‒ Active projects at end of quarter: ~48 ‒ New clients: 2 ‒ New projects and expansions in scope: ~14 ‒ Client assistance in regulatory interactions: ~25% of projects • Beyond 3QFY15 – current ‒ New clients and new clients in pipeline: 6 ‒ New projects and expansions in scope: ~12 • KIWI ™ licenses 3QFY15: 3 ‒ KIWI ™ prospects: 6 ‒ Successful PAGE meeting in June 2015 – 10 demonstrations ‒ Targeting release of KIWI ™ Version 1.5 in October 2015 Simulations Plus, Inc. Cognigen Sales Update

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Copyright (c) 2015 Simulations Plus, Inc. 26 • Analysis in R&D can be messy with data and inputs coming from many groups • Careful synthesis and communication is essential • The industry has enormous computing power • The industry lacks tools for harnessing that power Behind the scenes in R&D Coping with complexity and chaos

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Copyright (c) 2015 Simulations Plus, Inc. 27 KIWI™ – A Software Platform for Accessing Cognigen’s Validated Cloud Processing Capabilities

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Copyright (c) 2015 Simulations Plus, Inc. 28 • Company awarded a $200,000 cooperative agreement to develop improved modeling and simulation capabilities for dosage forms designed to be applied to the eye • Completed first 3/4 - year of 3 - year funded collaboration • On target to meet all milestones • Consortium of leading pharmaceutical companies has been established to ensure the scientific integrity of the improved model and maximize the impact on the industry. • In a recent report, the global ophthalmic drugs market was valued at $16 billion in 2012 and is expected to reach an estimated value of $21.6 billion in 2018 • Globally, the ophthalmic drugs market is witnessing significant growth due to increasing prevalence of eye disorders, such as diabetic retinopathy and macular degeneration Simulations Plus, Inc. Collaboration FDA Office of Generic Drugs (OGD)

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Copyright (c) 2015 Simulations Plus, Inc. 29 • Continued Growth • Seven - year - plus profitable trend • Successful strategic acquisition • Customer base increase: 21 new software customers, 64 year - to - date; with a 90+ percent renewal rate. This means future continuing revenue • Earnings per share increase 36.5% for the quarter • Strong cash position; returning cash to shareholders - Company continues to pay dividend of $0.05 per quarter - Cash dividends totaling approximately $11 million have been distributed since 2012, yet cash remains at $7.7 million as of today Summary

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EX-99.2

Exhibit 99.2

For Further Information:

Simulations Plus, Inc.

42505 10^th Street West

Lancaster, CA 93534-7059

CONTACT:

Simulations Plus Investor Relations	Hayden IR
Ms. Renee Bouche	Mr. Cameron Donahue
661-723-7723	651-653-1854
renee@simulations-plus.com	cameron@haydenir.com

For Immediate Release:

July 13, 2015

Simulations Plus Reports Third Quarter FY2015 Financial Results

Revenues up 58.9%, Net Income up 41.7%

Board declares dividend of $0.05/share

LANCASTER, CA, July 13, 2015– Simulations Plus, Inc. (NASDAQ: SLP), the premier provider of simulation and modeling software and consulting services for all phases of pharmaceutical discovery and development from the earliest discovery through all phases of clinical trials, today reported financial results for its third quarter of fiscal year 2015 ended May 31, 2015 (3QFY15), and first nine months of fiscal year 2015 (9moFY15), compared to the third quarter (3QFY14) and first nine months of fiscal year 2014 (9moFY14).

3QFY15 highlights compared with 3QFY14:

· Net revenues increased 58.9% to $5.94 million, an increase of $2.20 million from $3.74 million

· Gross profit was up 37.4% to $4.83 million, an increase of $1.31 million from $3.51 million

· SG&A was $1.62 million, an increase of 34.9% or $420,000 from $1.20 million

· R&D expenditures were $594,000, an increase of $42,000 or 7.6% over $552,000

o In 3QFY15, $246,000 was capitalized and $348,000 was expensed

o In 3QFY14, $317,000 was capitalized and $235,000 was expensed

· Income before taxes increased 35.1% to $2.82 million, an increase of $733,000 from $2.09 million

· Net income increased 41.7% to $1.85 million, an increase of $545,000 from $1.31 million

· Diluted earnings per share increased 36.5% to $0.108 from $0.079

9moFY15 highlights compared with 9moFY14:

· Net revenues increased 54.3% to $14.60 million, an increase of $5.14 million from $9.46 million

· Gross profit was up 37.0% to $11.36 million, an increase of $3.07 million from $8.29 million

· SG&A was $5.30 million, an increase of $1.92 million or 57.0% from $3.38 million

· R&D expenditures were $1.96 million, an increase of $154,000, or 8.5% over $1.8 million

o For 9moFY15, $976,000 was capitalized and $982,000 was expensed

o For 9moFY14, $1.05 million was capitalized and $751,000 was expensed

· Income before taxes increased 18.6% to $5.01 million, an increase of $788,000 from $4.23 million

· Net income increased 19.6% to $3.35 million, an increase of $549,000 from $2.80 million

· Diluted earnings per share increased 14.6% to $0.196 from $0.171

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Mr. John Kneisel, chief financial officer of Simulations Plus, said: “The Company delivered record results aided by a strong quarter of software sales and consulting revenues. Year-to-date diluted earnings per share reached the 20¢ mark. After distributing just over $800,000 in dividends during 3QFY15, cash on May 31 was a healthy $6.4 million and is currently at $7.8 million.”

Ted Grasela, president of Simulations Plus and its wholly owned subsidiary, Cognigen Corporation, added: “Strong collaborations between our scientists have identified new and innovative ways of using modeling and simulation to bring valuable insights to our clients’ research and development programs. The strategic and synergistic benefits of the Cognigen acquisition are being realized and we look forward to finding even more synergies between the talent and technologies of the two Simulations Plus divisions.”

Walt Woltosz, chairman and CEO of Simulations Plus and Cognigen, added: “We believe the combined Simulations Plus/Cognigen team, which now spans all aspects of drug development from early discovery chemistry through clinical trials and on to generics, provides the most comprehensive offering of powerful software and consulting expertise available to the pharmaceutical industry today. We’re realizing the potential we expected from joining the predominantly preclinical and early clinical capabilities of Simulations Plus with the world-class clinical trial data analysis and reporting expertise of Cognigen, with a number of projects now using the expertise from both teams to meet customers’ needs. Scientists from both divisions are learning about the methods used by each other, which will enable them to communicate the advantages of working with our organization as they go out to scientific meetings and conferences, and to provide training at customer sites. We believe this is just the beginning, as more and more managers in drug development are recognizing the tremendous potential of model-based drug development through best-in-class software and top-notch consulting expertise.”

Dividend Announcement

The Company today announced that its board of directors has declared a quarterly cash dividend of $0.05 per share to its shareholders. This cash dividend will be distributed on Thursday, July 30, 2015, for shareholders of record as of Thursday, July 23, 2015.

Investor Conference Call

The Company will hold an investor conference call on Monday, July 13, at 1:15 p.m. PT/4:15 p.m. ET.

The conference call will be webcast live and may be joined by registering at: https://attendee.gotowebinar.com/register/7514990819733113602. After registering, you will receive a confirmation email containing information about joining the webinar. Please dial in five to ten minutes prior to the scheduled start time. For listen-only mode, you may dial (415) 655-0059, and enter access code 307-841-003.

About Simulations Plus, Inc. and Cognigen Corp.

Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation and modeling software which is licensed to and used in the conduct of drug research by major pharmaceutical, biotechnology, agrochemical, and food industry companies worldwide. Simulations Plus recently acquired Cognigen Corporation of Buffalo, NY, adding to our offerings top-quality statistical modeling and simulation using clinical trial data, as well as more than doubling our staff from 30 to over 60, adding nearly 50% to revenues, and increasing earnings in the fiscal year that began September 1, 2014. The Company is headquartered in Southern California and trades on the NASDAQ Capital Market under the symbol “SLP.” Cognigen Corp is located in Buffalo, New York. For more information, visit our Web site at www.simulations-plus.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.

--Tables follow –

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SIMULATIONS PLUS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

As of

	(Unaudited)		(Audited)
	May 31,		August 31,
ASSETS
	2015		2014
Current assets
Cash and cash equivalents	$	6,428,596	$	8,614,929
Accounts receivable, net of allowance for doubtful accounts of $0		3,990,467		1,708,158
Revenues in excess of billings		924,793		158,914
Prepaid income taxes		–		748,359
Prepaid expenses and other current assets		269,776		188,160
Deferred income taxes		209,705		114,846
Total current assets		11,823,337		11,533,366
Long-term assets
Capitalized computer software development costs, net of accumulated amortization of  $7,358,012 and $6,609,283		3,880,162		3,452,541
Property and equipment, net		420,629		95,242
Intellectual property, net of accumulated amortization of  $649,375 and $193,750		5,425,625		5,881,250
Other intangible assets net of accumulated amortization of $110,625		1,539,375		–
Goodwill		4,789,248		–
Other assets		34,082		18,445
Total assets	$	27,912,458	$	20,980,844
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable	$	133,126	$	130,547
Accrued payroll and other expenses		427,750		340,709
Accrued bonuses to officer		72,000		120,000
Income taxes payable		178,894		–
Other current liabilities		19,859		19,859
Current portion -  Contracts payable		750,000		750,000
Billings in excess of revenues		93,122		–
Deferred revenue		42,168		30,370
Total current liabilities		1,716,919		1,391,485
Long-term liabilities
Deferred income taxes		3,510,899		2,375,874
Payments due under Contracts payable		2,854,404		1,750,000
Other long-term liabilities		13,239		28,134
Total liabilities		8,095,461		5,545,493
Commitments and contingencies
Shareholders' equity
Preferred stock, $0.001 par value 10,000,000 shares authorized no shares issued and outstanding		–		–
Common stock, $0.001 par value 50,000,000 shares authorized 16,887,117 and 16,349,955 shares issued and outstanding		5,358		4,821
Additional paid-in capital		9,643,394		6,085,427
Retained earnings		10,168,245		9,345,103
Total shareholders' equity		19,816,997		15,435,351
		–		–
Total liabilities and shareholders' equity	$	27,912,458	$	20,980,844

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SIMULATIONS PLUS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

For the three and nine months ended May 31,

(Unaudited)

	Three months ended						Nine months ended
	2015			2014			2015			2014
Net Revenues	$	5,942,082		$	3,740,567		$	14,602,464		$	9,463,059
Cost of revenues		1,115,402			227,600			3,238,796			1,168,219
Gross margin		4,826,680			3,512,967			11,363,668			8,294,840
Operating expenses
Selling, general, and administrative		1,624,610			1,204,312			5,303,792			3,378,950
Research and development		348,285			234,685			981,633			750,808
Total operating expenses		1,972,895			1,438,997			6,285,425			4,129,758
Income from operations		2,853,785			2,073,970			5,078,243			4,165,082
Other income (expense)
Interest income		4,391			8,017			13,394			25,000
Gain(loss) on currency exchange		(35,632	)		7,340			(78,107	)		35,477
Total other income (expense)		(31,241	)		15,357			(64,713	)		60,477
Income from operations before provision for income taxes		2,822,544			2,089,327			5,013,530			4,225,559
Provision for income taxes		(970,122	)		(781,778	)		(1,661,972	)		(1,422,991	)
Net Income	$	1,852,422		$	1,307,549		$	3,351,558		$	2,802,568
Earnings per share
Basic	$	0.11		$	0.08		$	0.20		$	0.17
Diluted	$	0.11		$	0.08		$	0.20		$	0.17
Weighted-average common shares outstanding
Basic		16,862,128			16,193,976			16,847,191			16,117,198
Diluted		17,073,155			16,455,078			17,070,334			16,361,695

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EX-99.3

Exhibit 99.3

EMPLOYMENT AGREEMENT

This Employment Agreement (the “Agreement”) is made as of this9th day of July, 2015, by and between Simulations Plus, Inc., a California corporation (the “Company”) and Walter S. Woltosz, an individual (the “Employee”) with reference to the following facts:

A. The Company desires to secure the services of the Employee as Chief Executive Officer.

B. The Employee agrees to perform such services for the Company under the terms and conditions set forth in this Agreement.

In consideration of the mutual promises, covenants, and conditions set forth herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it is hereby agreed by and between the Company and the Employee as follows:

1. Representations and Warranties.

The Company represents and warrants that it is empowered under its Articles of Incorporation and Bylaws to enter into this Agreement. The Employee represents and warrants that he is under no employment contract, bond, confidentiality agreement, or any other obligation that would violate or be in conflict with the terms and conditions of this Agreement or encumber his performance of duties assigned to him by the Company. The Employee further represents and warrants that he has not signed or committed to any employment or consultant duties or other obligations that would divert his attention from the duties assigned to him by the Company by this Agreement at a minimum level of 60% of full-time employment.

2. Employment and Duties.

The Company employs the Employee as Chief Executive Officer and the Employee hereby accepts such employment (the “Employment”). The Employee agrees that he shall devote a minimum of 60% of his productive time, ability, attention, energy, knowledge, and skill solely and exclusively to performing all duties as Chief Executive Officer of the Company as assigned or delegated to him by the directors and executive officers of the Company.

3. Term.

Subject to the provisions of Section 5, the term of this Agreement shall extend until August 31, 2016, commencing on September 1, 2015.

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4. Compensation.

In full and complete consideration for the Employment, each and all of the services to be rendered to the Company by the Employee, and each and all of the representations, warranties, covenants, agreements, and promises undertaken by the Employee pursuant to this Agreement, the Employee shall be entitled to receive compensation as follows:

4.1. Base Salary. The Employee shall receive from the Company a base salary of one hundred eighty thousand dollars ($180,000.00) per year, payable in equal monthly installments. From each said salary payment the Company will withhold and pay to the proper governmental authorities any and all amounts required by law to be withheld for federal income tax, state income tax, federal Social Security tax, state disability insurance premiums, and any and all other amounts required by law to be withheld from the Employee’s salary.

4.2. Grant of Option. The Employee shall be granted an option under the 2007 Stock Option Plan, exercisable for five (5) years, to purchase six (6) shares of Common Stock for each one thousand dollars ($1,000) of net income before taxes that the Company earns at the end of each fiscal year (up to a maximum of twelve thousand [12,000] options over the term of this Agreement) at an exercise price 10% over the market value per share as of the date of grant. The maximum number of options under this grant shall be adjusted accordingly for any stock split or reverse split after the date of this agreement. Option grants under this agreement shall be issued within ten days after the filing of the annual report (10-K) for the fiscal year for which the option is granted.

4.3 Performance Bonus. The Employee shall be paid a Performance Bonus in an amount equal to five percent (5%) of the Company’s net income before taxes of the previous fiscal year, not to exceed $36,000.

4.4. Benefits. Employer shall provide to Employee at the cost to Employer of 60% of actual costs, and Employee shall be entitled to receive from Employer, such health insurance and other benefits which are appropriate to the office and position of Employee, adequate to the performance of his duties and not inconsistent with that which Employer customarily provides at the time to its other management employees. Employee’s right to paid time off (“PTO”) shall be determined in accordance with the policies of the Company as may be in effect from time to time and as are approved by the Company’s Board of Directors. Employee shall have the right to reimbursement of customary, ordinary, and necessary business expenses incurred in connection with the rendering of services and performance of the functions required hereunder in accordance with the policies of the Company as may be in effect from time to time and as are approved by the Company’s Board of Directors. Such expenses are reimbursable only upon presentation by Employee of appropriate documentation pursuant to the policies adopted by the Company’s Board of Directors.

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5. Termination of Employment.

5.1. Expiration of the Term of Agreement. This Agreement shall be automatically terminated upon the expiration of the term of the agreement as described in paragraph 3 of this Agreement, or as sooner agreed by both Employee and Company in the event this Agreement is superseded by a new agreement. Upon such termination, the Company shall have no further liability to the Employee for any payment, compensation, or benefit whatsoever under this Agreement.

5.2. By Death. This Agreement shall be terminated upon the death of the Employee. The Company’s total liability in such event shall be limited to payment of the Employee’s salary and benefits through the date of the Employee’s death.

5.3. By Disability. If, in the sole opinion of the Company’s Board of Directors, the Employee shall be prevented from properly performing his or her duties hereunder by reason of any physical or mental incapacity for a period of more than 90 days in the aggregate in any twelve-month period, then, to the extent permitted by law, his or her employment with the Company shall terminate. The Company’s total liability in such event shall be limited to payment of the Employee’s salary and benefits through the effective date of termination upon disability.

5.4. For Cause. The Company reserves the right to terminate this Agreement immediately, at any time, if, in the reasonable opinion of the Company’s Board of Directors: the Employee breaches or neglects the duties which he or she is required to perform under the terms of this Agreement; commits any material act of dishonesty, fraud, misrepresentation, or other act of moral turpitude; is guilty of gross carelessness or misconduct; fails to obey the lawful direction of the Company’s Board of Directors; or acts in any way that has a direct, substantial, and adverse effect on the Company’s reputation. The Company’s total liability to the Employee in the event of termination of the Employee’s employment under this paragraph shall be limited to the payment of the Employee’s salary and benefits through the effective date of termination.

5.5. Without Cause. The Company reserves the right to terminate this Agreement without cause for any reason whatsoever upon thirty (30) days’ written notice to the Employee. Upon termination under this subsection, the Employee shall receive payment of an amount equal to twelve (12) months of the Employee’s base salary or the Employee’s base salary for the remaining term of this Agreement, whichever is greater. Other than payment of the amount as described in this paragraph, the Company shall have no further obligation to pay the Employee any other compensation or benefits whatsoever. The Employee hereby agrees that the Company may dismiss him or her under this paragraph 5.5 without regard (i) to any general or specific policies (whether written or oral) of the Company relating to the employment or termination of its employees, or (ii) to any statements made to the Employee, whether made orally or contained in any document, pertaining to the Employee’s relationship with the Company.

5.6. Mutual Consent. This Agreement shall be terminated upon mutual written consent of the Company and the Employee. The Company’s total liability to the Employee in the event of termination of the Employee’s employment under this paragraph shall be limited to the payment of the Employee’s compensation through the effective date of termination.

5.7. Termination of Obligations. Upon termination of employment for any reason whatsoever, the Employee shall be deemed to have resigned from all offices and directorships then held with the Company. Termination of employment shall have no effect on the Employee’s position(s) on the Company’s board of directors. The board of directors and shareholders will determine the Employee’s eligibility to continue to serve as a member of the board.

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6. Restrictions on Use or Disclosure of Confidential Matters, Proprietary Information, and Trade Secrets.

6.1. During the term of this Agreement, the Employee may be dealing with trade secrets of the Company, including without limitation, customer lists, client contacts, financial information, inventions, and processes, all of a confidential nature that are the Company’s property and are used in the course of the Company’s business. The Employee will not disclose to anyone, directly or indirectly, any of such trade secrets or use them other than as necessary in the course of his duties with the Company. All documents that the Employee prepares, or confidential information that might be given to him or that Employee himself might create in the course of his consultation with the Company, are the exclusive property of the Company. During the term of this Agreement and at any time thereafter, the Employee shall not publish, communicate, divulge, disclose, or use any of such information which has been reasonably designated by the Company as proprietary or confidential, or which from the surrounding circumstances the Employee knows, or has good reason to know, or should reasonably know, ought to be treated by the Employee as proprietary or confidential, without the prior written consent of the Company, which consent may not be unreasonably withheld by the Company.

6.2. In the course of his employment for the Company, Employee will develop a personal relationship with the Company’s customers and knowledge of those customers’ affairs and requirements, which may constitute the Company’s only contact with such customers. Employee consequently agrees that it is reasonable and necessary for the protection of the goodwill and business of the Company that Employee make the covenants contained herein. Accordingly, Employee agrees that while he is in the Company’s employ and for a one (1) year period after the termination of such employment for any reason whatsoever, he will not directly or indirectly:

(a) attempt in any manner to solicit from any customer (except on behalf of the Company) business of the type performed by the Company or to persuade any customer of the Company to cease to do business or reduce the amount of business which any such customer has customarily done or contemplates doing with the Company, whether or not the relationship with the Company and such customer was originally established in whole or in part through Employee’s efforts; or

(b) engage in any business as, or own an interest in, directly or indirectly, any individual proprietorship, partnership, corporation, joint venture, trust, or any other form of business entity if such business form or entity is engaged in the business in which the Company is engaged;

(c) render any services of the type rendered by the Company to or for any customer of the Company;

(d) employ or attempt to employ or assist anyone else to employ any person who is then or at any time during the preceding year in the Company’s employ.

This entire Section 6 shall survive termination of this Agreement.

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7. Company Property.

7.1. Any patents, inventions, discoveries, applications or processes, software, and computer programs devised, planned, applied, created, discovered, or invented by the Employee in the course of the engagement under this Agreement and which pertain to any aspect of the business of the Company, or its subsidiaries, affiliates, or customers, shall be the sole and exclusive property of the Company, and the Employee shall make prompt report thereof to the Company and promptly execute any and all documents reasonably requested to assure the Company the full and complete ownership thereof.

7.2. All records, files, lists, drawings, documents, equipment, and similar items relating to the Company’s business which the Employee shall prepare or receive from the Company shall remain the Company’s sole and exclusive property. Upon termination of this Agreement, the Employee shall return promptly to the Company all property of the Company in his possession and the Employee represents and warrants that he will not copy, or cause to be copied, printed, summarized, or compiled, any software, documents, or other materials originating with and/or belonging to the Company, including, without limitation, documents or other materials created by the Employee for, or on behalf of, the Company. The Employee further represents and warrants that he will not retain in his possession any such software, documents, or other materials in machine or human-readable form.

7.3. This Section 7 shall survive termination of this Agreement.

8. Outside Activities. During the term of this Agreement, the Employee shall devote sixty percent (60%) of his productive time, ability, and attention to the business of the Company. During the term of this Agreement, the Employee shall not, directly or indirectly, either as an officer, director, employee, representative, principal, partner, shareholder, employee, agent, or in any other capacity, engage or assist any third party in engaging in any business competitive with the business of the Company, without the prior written consent of the Company, which consent may be withheld by the Company in its sole and absolute discretion. Following his employment with the Company, the Employee shall not engage in unfair competition with the Company, aid others in any unfair competition with the Company, in any way breach the confidence that the Company has placed in the Employee, or misappropriate any proprietary information of the Company.

9. Reports. The Employee, when directed, shall provide written reports to the Company with respect to the services provided hereunder.

10. Strict Loyalty. The Employee hereby covenants and agrees to avoid all circumstances and actions that reasonably would place the Employee in a position of divided loyalty with respect to his obligations under this Agreement.

11. Assignment. This Agreement may not be assigned to another party by the Employee without the prior written consent of the Company, which consent may be withheld by the Company in its sole and absolute discretion.

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12. Arbitration. Except as otherwise provided herein in Section 15.11, any controversy between the Company and Employee in connection with this Agreement, including, without limitation, any dispute or claim arising from the voluntary or involuntary termination hereof, shall be settled by final and binding arbitration in Los Angeles, in accordance with the Commercial Arbitration Rules of the American Arbitration Association. Judgment of such award may be entered in a court of competent jurisdiction. Employee and the Company shall each pay the fees of his or its own attorneys, the expenses of his or its witnesses, and all other fees and expenses connected with presenting his or its case at arbitration. All other costs of the arbitration, including, without limitation, the costs of any record or transcript of the arbitration proceedings, administrative fees, the fee for the arbitrator, and all other fees and costs shall be borne equally by the Company and Employee.

13. Company Bylaws, Directions, Policies, Practices, Rules, Regulations, and Procedures. Employee agrees to become and remain thoroughly familiar with each and all of the Company’s bylaws, directions, policies, practices, rules, regulations, and procedures that relate to the employment and/or to any of Employee’s duties and/or responsibilities as an employee of the Company, and to abide fully by each and all of such bylaws, directions, policies, practices, rules, regulations, and procedures. During the term of employment, Employee shall be fully bound by and employed pursuant to each and all of the Company’s bylaws, directions, policies, practices, rules, regulations, and procedures as now in effect or as may be implemented, modified, or otherwise put into effect by the Company during the term of employment, regardless of whether such bylaws, directions, policies, practices, rules, regulations, and procedures are oral or are set forth in any manual, handbook, or other document, and it is solely the responsibility of Employee to become and remain fully aware of and familiar with each and all such directions, policies, practices, rules, regulations, and/or procedures. In the event of any conflict between any provision of this Agreement and any provision of the Company’s directions, policies, practices, rules, regulations, and/or procedures, the provisions of this Agreement govern for any and all purposes whatsoever.

14. Indemnification. The Company shall indemnify and hold Employee harmless from any and all claims, demands, judgments, liens, subrogation, or costs incurred by Employee with respect to any shareholder derivative action or other claims or suits against the Company and/or its Board of Directors by individuals, firms, or entities not a party to this Agreement to the maximum extent permitted under California law.

15. General.

15.1. Further Documents. Each party shall execute and deliver all further instruments, documents, and papers, and shall perform any and all acts necessary reasonably requested by the other party, to give full force and effect to all of the terms and provisions of this Agreement.

15.2. Successors and Assigns. Except where expressly provided to the contrary, this Agreement, and all provisions hereof, shall inure to the benefit of and be binding upon the parties hereto, their successors in interest, assigns, administrators, executors, heirs, and devises.

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15.3. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective and valid under applicable law. If any provision of this Agreement, as applied to any party or to any circumstance, shall be found by a court or arbitrator to be invalid or unenforceable under applicable law, such provision will be ineffective only to the extent of such invalidity or unenforceability, without invalidating or rendering unenforceable the remainder of such provision and any such invalidity or unenforceability shall in no way affect any other provision of this Agreement, the application of any provision in any other circumstance, or the validity or enforceability of this Agreement.

15.4. Notices. All notices or demands shall be in writing and shall be served personally, telegraphically, or by express or certified mail. Service shall be deemed conclusively made at the time of service if personally served, at the time that the telegraphic agency confirms to the sender deliver thereof to the addressee if served telegraphically, 24 hours after deposit thereof in the United States mail properly addressed and postage prepaid, return receipt requested, if served by express Mail, and five days after deposit thereof in the United States mail, properly addressed and postage prepaid, return receipt requested, if served by certified mail. Any notice or demand to the Company shall be given to:

Simulations Plus, Inc.

42505 10th Street West

Lancaster, CA 93534-7059

(661) 723-7723 Telephone

(661) 723-5524 Facsimile

Attention: Compensation Committee

and any notice or demand to the Employee shall be given to:

Mr. Walter S. Woltosz

42505 10th Street West

Lancaster, CA 93534-7059

(661) 723-7723 Telephone

(661) 723-5524 Facsimile

and

430 North College Street

Auburn, AL 36830

(661) 317-1647 Telephone

walt@simulations-plus.com

Any party may, by virtue of a written notice in compliance with this paragraph, alter or change the address or the identity of the person to whom any notice, or copy thereof, is to be sent.

15.5. Waiver. A waiver by any party of any of the terms and conditions of this Agreement in any one instance shall not be deemed or construed to be a waiver of the term or condition for the future, or of any subsequent breach thereof, or of any other term or condition thereof. Any party may waive any term, provision, or condition included for the benefit of that party. Any and all waivers shall be in writing.

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15.6. Construction. This Agreement shall be governed by and construed in accordance with the laws of the State of California applicable to contracts entered into and fully to be performed therein without regard to its principles of choice of law or conflicts of law. In all matters of interpretation, whenever necessary to give effect to any provision of this Agreement, each gender shall include the others, the singular shall include the plural, the plural shall include the singular, and the terms “and” and “or” may be used interchangeably as the context so requires or implies. The title of the sections of this Agreement are for convenience only and shall not in any way affect the interpretation of any provision or condition of this Agreement. All remedies, rights, undertakings, obligations, and agreements contained in this Agreement shall be cumulative and none of them shall be in limitation of any other remedy, right, undertaking, obligation, or agreement of any party.

15.7. Entire Understanding. This Agreement contains the entire understanding of the parties hereto relating to the subject matter contained herein and supersedes all prior and collateral agreements, understandings, statements, and negotiation of the parties. Each party acknowledges that no representations, inducements, or promises, oral or written, with reference to the subject matter hereof have been made other than as expressly set forth herein. This Agreement cannot be changed, rescinded, or terminated orally.

15.8. Third Party Rights. The parties hereto do not intend to confer any rights or remedies upon any person other than the parties hereto and those referred to in Section 15.2 hereof so long as any such assignment by Employee was approved by the Company as provided in Section 11 hereof.

15.9. Attorneys’ Fees. In the event of any litigation between the parties respecting or arising out of this Agreement, the prevailing party shall be entitled to recover reasonable legal fees and costs, whether or not the litigation proceeds to final judgment or determination.

15.10. Place of Litigation. Any litigation between the parties shall occur in the County of Los Angeles, California.

15.11. Injunctive Relief. Since a breach of the provisions of Sections 6, 7, 8, and 10 of this Agreement cannot adequately be compensated by monetary damages, the Company shall be entitled, in addition to any other right and remedy set forth in this Agreement or available to it at law, in equity or otherwise, to seek and obtain from any court of competent jurisdiction immediate temporary, preliminary, and permanent injunctive relief restraining such breach or threatened breach, without the posting of any bond or other security therefor, against the Employee and against each and every other person, firm, company, joint venture, and/or other entity concerned with and/or acting in concert with the Employee. Any such requirement of bond or other security is hereby expressly waived by the Employee, and the Employee expressly acknowledges that in the absence of such waiver, a bond or other security may be required by the court. The Employee hereby consents to the issuance of such injunction and expressly and knowingly waives any claim or defense that any adequate remedy at law might exist for any such breach or threatened breach. The Employee agrees that the provisions of Sections 6, 7, 8, and 10 of this Agreement are necessary and reasonable to protect the Company in the conduct of the business of the Company.

15.12. Counterparts. This Agreement may be executed in counterparts which, taken together, shall constitute the whole of the agreement between the parties.

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IN WITNESS THEREOF, the parties have executed this Agreement as of the day and year first above written.

“Company”   SIMULATIONS PLUS, INC.,
a California corporation

By:	/s/ John Kneisel
	Chief Financial Officer
Date:	July 9, 2015

“Employee” WALTER S. WOLTOSZ 

By:	/s/ Walter S. Woltosz
	Walter S. Woltosz
Date:	July 9, 2015

Compensation Committee:

By:	/s/ David Z. D’Argenio
	Dr. David Z. D’Argenio
Date:	July 9, 2015

By:	/s/ David L. Ralph
	Dr. David L. Ralph
Date:	July 9, 2015

By:	/s/ John K. Paglia
	Dr. John K. Paglia
Date:	July 9, 2015

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