<SEC-DOCUMENT>0001144204-12-055615.txt : 20121011
<SEC-HEADER>0001144204-12-055615.hdr.sgml : 20121011
<ACCEPTANCE-DATETIME>20121011083039
ACCESSION NUMBER:		0001144204-12-055615
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20121011
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121011
DATE AS OF CHANGE:		20121011

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIGHTPATH TECHNOLOGIES INC
		CENTRAL INDEX KEY:			0000889971
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				860708398
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27548
		FILM NUMBER:		121139055

	BUSINESS ADDRESS:	
		STREET 1:		2603 CHALLENGER TECH CT
		STREET 2:		SUITE 100
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32826
		BUSINESS PHONE:		4073824003
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v325446_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES </B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>October 11, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LIGHTPATH TECHNOLOGIES, INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">Delaware</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">000-27548</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">86-0708398</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>incorporation or organization)</B>&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: center">(Commission File Number)</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(I.R.S. Employer</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Identification Number)</B>&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2603 Challenger Tech Court, Suite 100
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Orlando, Florida 32826 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office,
including zip code) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(407) 382-4003 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Registrant&rsquo;s telephone number,
including area code) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">LightPath Technologies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 8-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;Execution of a material
definitive agreement outside the ordinary course of business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt"><FONT STYLE="font-size: 10pt">The Registrant
issued a Press Release on October 11, 2012</FONT> announcing the GRADIUM&reg; technology license to Hubei, New HuaGuang Information
Materials Company, Ltd. (NHG). <FONT STYLE="font-size: 10pt"> A copy of the Press Release is attached as Exhibit 99.1 to this Report.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and
Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Press Releases on October 11, 2012 (furnished
herewith).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Memorandum of Understanding dated September
19, 2012 (furnished herewith)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, as amended, the registrant has duly caused this Report to be signed in its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">LIGHTPATH TECHNOLOGIES, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">Dated: October 11, 2012</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 26%">/s/ Dorothy M. Cipolla</TD>
    <TD STYLE="padding-bottom: 1pt; width: 20%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-style: italic">Dorothy M. Cipolla,&nbsp; CFO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Exhibit Index </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid">Exhibit&nbsp;No.</TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 86%; font-weight: bold; border-bottom: Black 1pt solid">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>EX-99.1</TD>
    <TD>&nbsp;</TD>
    <TD>Press Release issued on October 11, 2012, &nbsp;GRADIUM&reg; technology license to Hubei, New HuaGuang Information Materials Company, Ltd. (NHG)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>EX-10.1</TD>
    <TD>&nbsp;</TD>
    <TD>Memorandum of Understanding dated September 19, 2012</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v325446_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000003">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: #000007"><B>Memorandum
of Understanding<BR>
</B></FONT><B><FONT STYLE="color: #000003">G</FONT><FONT STYLE="color: #000007">ov</FONT><FONT STYLE="color: #000003">er</FONT><FONT STYLE="color: #000007">ning
the License of Intellectual Property</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>And</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: #000007"><B>Manufacturing</B></FONT><B><FONT STYLE="color: #000003">,
</FONT><FONT STYLE="color: #000007">Sale</FONT><FONT STYLE="color: #000003">s<BR>
</FONT><FONT STYLE="color: #000007">and Di</FONT><FONT STYLE="color: #000003">s</FONT><FONT STYLE="color: #000007">tribution of
Gradium</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>Between</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>LightPath Technologies,
Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>And</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>Hubei, New Hua Guang
Information Materials<BR>
Company, Ltd.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #000007"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="color: #000003"><B>Ef</B></FONT><B><FONT STYLE="color: #000007">f</FONT><FONT STYLE="color: #000003">ect</FONT><FONT STYLE="color: #000007">iv</FONT><FONT STYLE="color: #000003">e
</FONT><FONT STYLE="color: #000007">Date: September19, 2012</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #000004">1</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000004">Parties </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">1.1.
This agreement is made effective this 19th day of September, 2012 between LightPath Technologies, Inc., having offices at 2603
Challenger Tech Court Suite 100, </FONT>Orlando, FL. 32826 USA (&ldquo;LightPath&rdquo;), and<FONT STYLE="color: #000004"> New
Hua Guang, Information Materials Co., Ltd. having offices at No. 67 ChaNHGong Beilu, Xianqfan, Hubei 441057, China (&ldquo;NHG&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">2. Definitions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">2.1 &ldquo;Blank&rdquo; means
the form of Gradium used to make individual optical elements following core drilling or cutting and prior to optical finishing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">2.2 &ldquo;Boule&rdquo; means
the form of Gradium prior to core drilling or otherwise cutting Blanks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">2.3 &ldquo;Contract Year&rdquo;
means each succeeding 12-month period commencing on the effective date of this agreement and each subsequent anniversary thereof
during the term of this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">2.4 &ldquo;Delta Z&rdquo; means
the distance within a Blank, measured in millimeters, from the high index surface of a Boule to the theoretical apex of the lens.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">2.5 &ldquo;Gradium&rdquo; means
Gradium Glass, a specialty optical glass developed by LightPath with a variable refractive index profile in the axial direction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">2.6 &ldquo;NHG&rdquo; means Hubei,
New Hua Guang Information Materials Co., Ltd.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">2.7 &ldquo;IP&rdquo; means (a)
the patents set forth on Attachment A, (b) the trademarks set forth on Attachment B and (c) such other trade secrets, information
(confidential or otherwise), technical data, techniques, processes, methods, plans, designs, drawings, schematics, specifications,
test procedures, algorithms, technology, know-how, documentation and materials provided by LightPath to NHG related to Gradium,
including Gradium glass compositions and refractive index.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">2.8. &ldquo;LightPath&rdquo;
means LightPath Technologies Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">2.9. &ldquo;Prism&rdquo;
means a test sample taken from a Gradium Boule used to measure refractive index profile precision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">2.10. &ldquo;Territory&rdquo;
means the continent of Asia including, specifically, the country of China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">3. Purpose and
Overview</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">3.1. The purpose
of this agreement is to govern the licensing of IP related to Gradium by LightPath to NHG and the manufacturing, sales and distribution
of Gradium and Gradium products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">3.2. Under this agreement, NHG will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">3.2</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">1</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000004">Manufacture Gradium for NHG&rsquo;s own use and manufacture Gradium and products from Gradium
for sale to third parties only in the Territory. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">3</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">2.2.
Sell Gradium to LightPath under terms set forth below for LightPath&rsquo;s own use and for sale and cooperate with LightPath to
schedule production and delivery of such Gradium in accordance with LightPath&rsquo;s purchase requirements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">3.2</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">3.
Not sell Gradium or materials or products from Gradium to any past, present or future LightPath customers, as identified by LightPath
to NHG from time to time, without LightPath&rsquo;s written consent</FONT><FONT STYLE="color: black">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">3</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">2.4.
Conduct its business in the manufacture and sale of Gradium and Gradium products as a principal for its own account and shall pay
and assume responsibility for any and all cost, expense and risk incurred in connection with the conduct of its business. This
agreement does not in any way create the relationship of principal and agent, legal representative or any similar relationship
between LightPath and NHG. NHG has no right or authority to and shall not act or represent itself directly or by implication as
agent or legal representative for LightPath and will not incur or attempt to incur any obligation or responsibility, express or
implied</FONT><FONT STYLE="color: black">, </FONT><FONT STYLE="color: #000004">on behalf of or in the name of or to bind LightPath,
or make any representation, on behalf of or in the name of LightPath. NHG shall not sublicense any IP related to Gradium appoint
an associate manufacturer or sub-manufacturer of Gradium without the prior written consent of LightPath. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">3</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">2.5</FONT><FONT STYLE="color: #252526">.
</FONT><FONT STYLE="color: #000004">Use its best efforts to sell and promote </FONT><FONT STYLE="color: #0F0F12">t</FONT><FONT STYLE="color: #000004">he
sale of Gradium and Gradium products, which best efforts shall include but not be limited to prompt performance of all of its obligations
under thi</FONT><FONT STYLE="color: black">s </FONT><FONT STYLE="color: #000004">agreement</FONT><FONT STYLE="color: #252526">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">3.3. Under this agreement, LightPath will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">3</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">3</FONT><FONT STYLE="color: #0F0F12">.</FONT><FONT STYLE="color: #000004">1</FONT><FONT STYLE="color: black">.
Grant an exclusive license to LightPath IP as described in Section 5.1 below.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in">3.3.2. Not grant the right
to produce Gradium-based products to any other third party unless this agreement expires, terminates or this license is converted
to a non-exclusive basis as set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in">3.3.3. Endeavor to obtain from
LightPath&rsquo;s current licensee (Hikari) all intellectual property to which LightPath is entitled related to Gradium and to
pay the costs associated with such transfer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">3</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">3.4.
Within 10 days after NHG has produced Gradium meeting the standards set forth in Section 13, deliver to NHG LightPath&rsquo;s projections
for its purchase requirements for Gradium for the remainder of calendar year 2012 and cooperate with NHG to schedule production
and delivery of such Gradium. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">3</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">3</FONT><FONT STYLE="color: black">.5</FONT><FONT STYLE="color: #000004">.
Within one week after execution of this agreement by both parties, to send drawings of the melting furnace to NHG for review and
determination by NHG whether it will accept and use the melting furnace for its production of Gradium. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -55.4pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -55.4pt; color: #000004">3.3.6. Following
LightPath&rsquo;s receipt of the payment set forth in Section 10.1.1 below, provide documentation in its possession regarding the
manufacturing process for Gradium, including glass compositions and refractive index, glass melting, and, if NHG has determined
it will use the melting furnace, specifications and work instructions for the furnace and work instructions of the checkout.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -55.4pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -55.4pt; color: #000004">3.3.7. Buy
Gradium from NHG under terms set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -55.45pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -55.45pt; color: #000004">3.3.8. Agree
to allow NHG&rsquo;s customers within the Territory only to use and sell products made from Gradium which is produced by NHG.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -55.45pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 91.4pt; text-indent: -91.4pt; color: #000004">4. This section
intentionally left blank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #000004">5</FONT><FONT STYLE="color: #0E0E11">.
</FONT><FONT STYLE="color: #000004">License and Trademark Use </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">5</FONT><FONT STYLE="color: #0E0E11">.</FONT><FONT STYLE="color: #000004">1.
LightPath grants to NHG an exclusive, non-assignable, non-transferable license (with no right to sublicense) to use the IP within
the Territory for so long as this agreement is in effect to manufacture Gradium (i) for use by NHG for its own purposes and for
sale in the Territory only, (ii) from which NHG will manufacture products to sell to third parties in the Territory only and (iii)
to be sold by NHG to LightPath.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">5.2. Notwithstanding
the license granted to NHG under this agreement, it is expressly agreed and acknowledged by NHG that any and all technology, information,
materials and/or intellectual property supplied and/or licensed by LightPath pursuant to this agreement shall remain the property
of LightPath and NHG shall not obtain any ownership interest therein nor shall NHG be entitled to use them other than as expressly
authorized by this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">5.3. Nothing
in this agreement will prohibit LightPath from manufacturing products made from Gradium for its own use or for sale to third parties
and to market, distribute and sell such products to third parties anywhere in the world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">5.4.
LightPath reserves for itself all rights necessary for pe</FONT><FONT STYLE="color: #0E0E11">r</FONT><FONT STYLE="color: #000004">formance
of its rights as described herein. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-indent: -45.35pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004"><FONT STYLE="color: #000004">5</FONT><FONT STYLE="color: black">.5</FONT><FONT STYLE="color: #000004">.
NHG may use LightPath&rsquo;s trademarks in NHG&rsquo;s marketing and advertising only in connection with Gradium-based products
which meet the minimum quality </FONT><FONT STYLE="color: #0E0E11">r</FONT><FONT STYLE="color: #000004">equirements identified
in Section 13 below. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-indent: -45.35pt; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45.35pt; text-indent: -45.35pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #000004">6</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000004">Royalties </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">6</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">1.
Commencing in the fourth Contract Year, NHG will pay LightPath a royalty based on gross revenues of NHG and its affiliates from
the sale of Gradium and Gradium-based materials and products. The royalty percentage payable during the fourth Contract Year will
be 1% of the gross revenues of NHG and its affiliates from the sale of Gradium and Gradium-based materials and products. Royalty
percentages for each Contract Year after the fourth Contract Year will be agreed upon by the parties prior to the end of the year
expiration of the then current Contract Year, although the percentages are anticipated to be between 1% and 4%. If the parties
are unable to agree upon a royalty percentage for any applicable Contract Year prior to the end of the then current Contract Year,
this agreement and the license granted in this agreement will terminate at the end of the then current Contract Year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">6.2. Following
the end of the third Contract Year, royalty payments shall be due on the 15<SUP>th</SUP> day of the month following the end of
each calendar quarter during the term of this agreement for sales made during the previous calendar quarter or portion thereof
in the event of a partial calendar quarter. In the event sales in such previous calendar quarter or partial calendar quarter are
not sufficient to generate a royalty at least equal to the Minimum Quarterly Royalty (prorated for any partial calendar quarter),
the Minimum Quarterly Royalty will be due. On the date each royalty payment is due, NHG will submit to LightPath a written certification
of the gross revenues generated from the sale of Gradium and Gradium-based materials and products during the prior calendar quarter
and payment of the applicable royalty amount for such sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -31.5pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -31.5pt; color: #000004">6.3. NHG agrees
to keep and maintain proper records which bear upon royalties payable pursuant to this agreement. LightPath shall have the right
to review, copy and conduct audits of NHG&rsquo;s records to verify royalties payable hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.65pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.65pt; color: #000004">7. Equipment</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39.1pt; text-indent: -39.1pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39.1pt; text-indent: -39.1pt"><FONT STYLE="color: #000004">7.1</FONT><FONT STYLE="color: black">.
NHG will provide its own equipment for the manufacture of Gradium and Gradium-based products, except that following LightPath&rsquo;s
receipt of the payment set forth in Section 10.1.1 below, LightPath will transfer and assist NHG to set up the refractive index
test equipment owned by LightPath.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39.1pt; text-indent: -39.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 39.1pt; text-indent: -39.1pt">7.2. LightPath will take reasonable
actions to assist NHG to set up the Gradium manufacturing equipment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">7.3. LightPath
is willing to sell to NHG certain selected equipment used in the production of Gradium that is available and in LightPath&rsquo;s
possession upon request by NHG under prices and other terms to be agreed upon by the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">7</FONT><FONT STYLE="color: black">.4</FONT><FONT STYLE="color: #000003">.
All costs, including packing, shipping, insurance and customs costs and any applicable taxes for any equipment provided by LightPath
are to be paid by NHG and NHG shall be responsible for compliance with all laws and regulations regarding the export from the United
States and import into China of all such equipment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">8. This section intentionally left blank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000003">9. Intellectual Property</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9.1</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000003">LightPath shall be solely responsible for all fees, including maintenance fees, of LightPath&rsquo;s
IP licensed hereunder; provided that, in its discretion, LightPath may cease payment of such fees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9</FONT><FONT STYLE="color: black">.2</FONT><FONT STYLE="color: #000003">.
Subject to LightPath&rsquo;s agreement to enforce and/or defend any of its IP in any jurisdiction (other than litigation against
infringers as contemplated by Section 9.15 below), including any of its patents, </FONT><FONT STYLE="color: black">NHG</FONT><FONT STYLE="color: #000003">
and LightPath will equally share the cost of enforcing and/or defending any such IP resulting from NHG&rsquo;s use of LightPath&rsquo;s
IP, except that NHG will not be responsible for payment of any litigation costs arising from any of LightPath&rsquo;s pending patents
in the European Patent Office</FONT>. Any monies received or paid as a result of such enforcement or defense of LightPath&rsquo;s
IP shall be paid to LightPath only<FONT STYLE="color: #000003">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.4pt; text-indent: -38.4pt; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.4pt; text-indent: -38.4pt"><FONT STYLE="color: #000003">9.3.
Each party must notify the other in a timely manner of any suspected IP infringement</FONT><FONT STYLE="color: black">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #000003">9</FONT><FONT STYLE="color: black">.4</FONT><FONT STYLE="color: #000003">.
NHG will pay all fees on any new intellectual property rights applied for by NHG.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9</FONT><FONT STYLE="color: #0F0F12">.5</FONT><FONT STYLE="color: #252426">.
</FONT><FONT STYLE="color: #000003">The IP </FONT>license<FONT STYLE="color: #000003"> rights granted to NHG are for NHG &lsquo;s
use only and may not be disclosed or sublicensed to any third party in any manner or form. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9.6.
NHG agrees to take all necessary and appropriate steps to protect the IP and any other intellectual property rights of LightPath,
including but not limited to requiring employees</FONT><FONT STYLE="color: #0F0F12">, </FONT><FONT STYLE="color: #000003">subcontractors
and customers who will have access to confidential information to sign confidentiality agreements in form and substance acceptable
to LightPath. The process of making lenses from Gradium material is not considered confidential material</FONT><FONT STYLE="color: #000001">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9.7.
Upon termination of this agreement each party will discontinue use of the other&rsquo;s intellectual property rights, including
the IP, and will return all such proprietary material </FONT><FONT STYLE="color: #0F0F12">t</FONT><FONT STYLE="color: #000003">o
the owner of the applicable intellectual property rights and any grant by the owner of intellectual property rights of any kind
under this agreement shall terminate. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9.8</FONT><FONT STYLE="color: #000001">.
</FONT><FONT STYLE="color: #000003">NHG recognizes and agrees that LightPath is the owner of all LightPath IP and</FONT> nothing
in this agreement shall grant NHG any rights, ownership or otherwise, in said IP, except for those rights explicitly set forth
herein. NHG further recognizes<FONT STYLE="color: #000003"> that a breach of any of the obligations of this section due to either
party&rsquo;s negligence will result in<I> </I>irreparable and con</FONT><FONT STYLE="color: #0F0F12">t</FONT><FONT STYLE="color: #000003">inuing
damage to LightPath for which there is not adequate remedy at law, and that LightPath should be entitled to injunctive relief and</FONT><FONT STYLE="color: #0F0F12">/</FONT><FONT STYLE="color: #000003">or
a decree for specific performance, reasonable attorney&rsquo;s fees and such other relief as may be proper. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9.9.
NHG owns any new intellectual property developed by NHG and agrees to assign a perpetual, non</FONT><FONT STYLE="color: #000001">-</FONT><FONT STYLE="color: #000003">exclusive
license to LightPath for all new intellectual property developed by NHG based on, derived from</FONT><FONT STYLE="color: #252426">,
</FONT><FONT STYLE="color: #000003">or extended from the IP or other of LightPath&rsquo;s intellectual property. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -35.1pt; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -35.1pt"><FONT STYLE="color: #000003">9</FONT><FONT STYLE="color: #252426">.</FONT><FONT STYLE="color: #000003">10</FONT><FONT STYLE="color: #0F0F12">.
</FONT><FONT STYLE="color: #000003">LightPath will pay NHG a royalty equal to the royalty negotiated for Contract Year 4 and beyond
for all products manufactured and sold by LightPath using NHG intellectual property. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9.11.
LightPath agrees to take al</FONT><FONT STYLE="color: #0F0F12">l </FONT><FONT STYLE="color: #000003">necessary and appropriate
steps to protect NHG&rsquo;s intellectual property including but not limited </FONT><FONT STYLE="color: #0F0F12">t</FONT><FONT STYLE="color: #000003">o
requiring employees, subcontractors and customers who will have access to confidential information to sign confidentiality agreements.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.65pt; text-indent: -37.65pt; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.65pt; text-indent: -37.65pt"><FONT STYLE="color: #000003">9.12.
</FONT><FONT STYLE="color: #252426">NHG</FONT><FONT STYLE="color: #000003"> agrees to immediately notify LightPath in </FONT><FONT STYLE="color: #0F0F12">w</FONT><FONT STYLE="color: #000003">riting
of all new intellectual property developed by NHG described in Section 9.9. In no event shall such written notification be provided
la</FONT><FONT STYLE="color: #0F0F12">t</FONT><FONT STYLE="color: #000003">er than 30 days after developing new intellectual property</FONT><FONT STYLE="color: #0F0F12">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">9</FONT><FONT STYLE="color: #252426">.</FONT><FONT STYLE="color: #000003">13.
LightPath recognizes and agrees that NHG is the owner of all NHG intellectual property, and that a breach of any of the obligations
of this section due to either party&rsquo;s neg</FONT><FONT STYLE="color: #0F0F12">l</FONT><FONT STYLE="color: #000003">igence
will result in irreparable and continuing damage to NHG for which there is not </FONT><FONT STYLE="color: #000004">adequate remed</FONT><FONT STYLE="color: #0B0C10">y
</FONT><FONT STYLE="color: #000004">at law, and that NHG should be entitled to injunctive relief and/or a decree for specific performance,
reasonab</FONT><FONT STYLE="color: #0B0C10">l</FONT><FONT STYLE="color: #000004">e attorney</FONT><FONT STYLE="color: #0B0C10">&rsquo;</FONT><FONT STYLE="color: #000004">s
fees and such other relief as may be proper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">9.14</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000004">This agreement does not gi</FONT><FONT STYLE="color: #0B0C10">v</FONT><FONT STYLE="color: #000004">e
NHG ownership in any LightPath IP; only the right to manufacture and </FONT><FONT STYLE="color: #0B0C10">, </FONT><FONT STYLE="color: #000004">use,
and sell Gradium-b</FONT><FONT STYLE="color: #0B0C10">a</FONT><FONT STYLE="color: #000004">sed products under the license granted
in this agreement while this agreement is in effec</FONT><FONT STYLE="color: #0B0C10">t</FONT><FONT STYLE="color: black">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.6pt; text-indent: -38.6pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.6pt; text-indent: -38.6pt"><FONT STYLE="color: #000004">9.15.
In matters other than those contemplated by Section 9.2 above, concerning infringement by third parties m</FONT><FONT STYLE="color: #0B0C10">a</FONT><FONT STYLE="color: #000004">king,
using or selling infringing products corresponding to any of LightPath&rsquo;s IP or other intellectual property rights related
to Gradium: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 91.9pt; text-indent: -55.9pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 91.9pt; text-indent: -55.9pt"><FONT STYLE="color: #000004">9.</FONT><FONT STYLE="color: #0B0C10">15</FONT><FONT STYLE="color: #000004">.1.
NHG is empowered to b</FONT><FONT STYLE="color: #0B0C10">r</FONT><FONT STYLE="color: #000004">ing sui</FONT><FONT STYLE="color: #0B0C10">t
</FONT><FONT STYLE="color: #000004">in </FONT><FONT STYLE="color: #0B0C10">its </FONT><FONT STYLE="color: #000004">own name or</FONT><FONT STYLE="color: #0B0C10">,
</FONT><FONT STYLE="color: #000004">if required by law</FONT><FONT STYLE="color: #0B0C10">, </FONT><FONT STYLE="color: #000004">jointly
with LightPath</FONT><FONT STYLE="color: black">, </FONT><FONT STYLE="color: #000004">at its own expense and on its own behalf
for infringement of LightPath&rsquo;s IP; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 91.2pt; text-indent: -55.2pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 91.2pt; text-indent: -55.2pt"><FONT STYLE="color: #000004">9.15.2.
NHG will inform LightPath immediately upon NHG becoming aware of any infringement of the IP or any of LightPath&rsquo;s other intellectual
property related to Gradium. NHG will correspond with </FONT><FONT STYLE="color: #0B0C10">k</FONT><FONT STYLE="color: #000004">nown
</FONT><FONT STYLE="color: #0B0C10">i</FONT><FONT STYLE="color: #000004">nfringers and to promptly provide notice them of infringement
and a direction to cease such infringement, and will promptly advise LightPath of NHG&rsquo;s notification to such infringers.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 90.2pt; text-indent: -54.2pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 90.2pt; text-indent: -54.2pt"><FONT STYLE="color: #000004">9.15</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">3.
NHG will provide copies of all correspondences to and from infringers. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 89.5pt; text-indent: -53.5pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 89.5pt; text-indent: -53.5pt"><FONT STYLE="color: #000004">9</FONT><FONT STYLE="color: #0B0C10">.15</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">4</FONT><FONT STYLE="color: #0B0C10">.
</FONT><FONT STYLE="color: #000004">NHG is enti</FONT><FONT STYLE="color: #0B0C10">t</FONT><FONT STYLE="color: #000004">led to</FONT><FONT STYLE="color: #0B0C10">,
</FONT><FONT STYLE="color: #000004">in<B> </B>any such suit brought by it </FONT><FONT STYLE="color: #0B0C10">t</FONT><FONT STYLE="color: #000004">o
enjoin infringement and for which it bears all of the costs, to collec</FONT><FONT STYLE="color: #0B0C10">t </FONT><FONT STYLE="color: #000004">for
its use, damages, profits, and award</FONT><FONT STYLE="color: black">s </FONT><FONT STYLE="color: #000004">of whatever nature
recoverable for such infringement, except tha</FONT><FONT STYLE="color: #0B0C10">t any sums </FONT><FONT STYLE="color: #000004">awarded
to NHG shall be considered revenues for which LightPath will be entitled to royalties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">9.15.5</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000004">At the option of LightPath, LightPath may at its expense, sue infringers. LightPath will </FONT><FONT STYLE="color: #0B0C10">r</FONT><FONT STYLE="color: #000004">etain
all damages received in patent litigation it conducts. Where L</FONT><FONT STYLE="color: #0B0C10">i</FONT><FONT STYLE="color: #000004">ghtPath
has agreed to and has t</FONT><FONT STYLE="color: #0B0C10">a</FONT><FONT STYLE="color: #000004">ken o</FONT><FONT STYLE="color: #0B0C10">ve</FONT><FONT STYLE="color: #000004">r
responsibility for litigation initiat</FONT><FONT STYLE="color: #0B0C10">e</FONT><FONT STYLE="color: #000004">d by NHG, the pa</FONT><FONT STYLE="color: #0B0C10">r</FONT><FONT STYLE="color: #000004">ties
w</FONT><FONT STYLE="color: #0B0C10">i</FONT><FONT STYLE="color: #000004">ll retain damages in the same proportion that they have
contributed to the cost of the litigation. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.65pt"><FONT STYLE="color: #000004">10</FONT><FONT STYLE="color: #373838">.
</FONT><FONT STYLE="color: #000004">Pricing and Payment Schedule </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.25pt; text-indent: -35.25pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 35.25pt; text-indent: -35.25pt"><FONT STYLE="color: #000004">10.1</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000004">The total cost </FONT><FONT STYLE="color: #0B0C10">t</FONT><FONT STYLE="color: #000004">o NHG
o</FONT><FONT STYLE="color: #0B0C10">f </FONT><FONT STYLE="color: #000004">the license granted under this agreement is the royalties
payable under Section 6 above and the sum of USD $150</FONT><FONT STYLE="color: #0B0C10">,</FONT><FONT STYLE="color: #000004">000
which shall be payable as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 97.4pt; text-indent: -62.15pt; color: #0B0C10">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 97.4pt; text-indent: -62.15pt"><FONT STYLE="color: #0B0C10">1</FONT><FONT STYLE="color: #000004">0</FONT><FONT STYLE="color: #0B0C10">.</FONT><FONT STYLE="color: #000004">1</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">1</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000004">$50,000 shall be paid within ten days after the effective date of this agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">10.1.2. $60,000
shall be paid upon LightPath&rsquo;s approval and acceptance of a 9 inch Boule and a 13 inch Boule meeting the standards set forth
in this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">10.1.3. $40,000
shall be paid upon promptly upon achievement of six months of Gradium production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">10.2.
NHG agrees to sell Gradium and Gradium-based materials and products to LightPath at a price equal to or less than ten percent (10%)
below the lowest selling price charged by NHG to any customer of NHG purchasing Gradium or the same or similar Gradium-based materials
or products; provided, that the cost to LightPath per Boules shall not exceed USD$300 for a nine inch Boule or USD$650 for a thirteen
inch Boule unless otherwise mutually agreed</FONT><FONT STYLE="color: #1A1A1B">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">10.3</FONT><FONT STYLE="color: #1A1A1B">.
</FONT><FONT STYLE="color: #000003">NHG shall pay all license fees, sales, use, service use, occupation, retailer&rsquo;s occupation,
service occupation, personal property, transaction and excise taxes and any other fees, assessments or taxes which may be assessed
or levied by any national, state or local government and any departments and subdivisions thereof, against any Gradium manufactured
or sold by NHG, or any Gradium under NHG&rsquo;s direct or indirect control.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-indent: -40.3pt; color: #000003">11. This section
intentionally left blank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.3pt; text-indent: -40.3pt; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75pt; color: #000003">12. Term</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">12.1. The initial
term of this agreement is five years from the effective date of this agreement unless earlier terminated in accordance with this
agreement or as otherwise mutually agreed upon in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">12</FONT><FONT STYLE="color: #000001">.</FONT><FONT STYLE="color: #000004">2.
Upon completion of the initial five year term, this agreement shall automatically renew for successive one year periods unless</FONT><FONT STYLE="color: #000001">:
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">12</FONT><FONT STYLE="color: #000001">.</FONT><FONT STYLE="color: #000004">2.1</FONT><FONT STYLE="color: #000001">.
</FONT><FONT STYLE="color: #000004">Termination is mutually agreed in writing at which time termination shall be immediate. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in; text-indent: -0.75in"><FONT STYLE="color: #000004">12.2</FONT><FONT STYLE="color: #000001">.</FONT><FONT STYLE="color: #000004">2.
Either party notifies the other in writing at least six months prior to the end of the then current Contract Year that such party
will not renew the agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">12</FONT><FONT STYLE="color: #000001">.3</FONT><FONT STYLE="color: #000004">.
This agreement shall terminate automatically and without the giving of notice in the event that NHG shall become insolvent, or
shall ask its creditors for a moratorium, or shall file or have filed against it a petition in bankruptcy, or shall suffer appointment
of a temporary or permanent receiver, trustee, or custodian for all or a substantial part of its assets who shall not be discharged
within thirty (30)<I> </I>days. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">12.4.
Notwithstanding any other provision of this Section 12, either party may terminate this agreement for a material breach by the
other party of any of its obligations under this agreement by notifying the other party of such default and allowing the oth</FONT><FONT STYLE="color: #000001">e</FONT><FONT STYLE="color: #000004">r
party thirty (30) days within which to cure such default</FONT><FONT STYLE="color: #000001">. </FONT><FONT STYLE="color: #000004">If
such default is not cured within thirty (30) days, the party who gave such notice of default may terminate this agreement at any
time thereafter upon notice to the other party. If the default is quality based and NHG is actively working to correct the problems,
the time period will be extended to 60 days. If the default is cured within such time period but thereafter repeated, the party
who gave such notice of default may terminate this agreement without any further opportunity to cure immediately upon giving the
defaulting party notice of such termination. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">12</FONT><FONT STYLE="color: #000001">.5</FONT><FONT STYLE="color: #000004">.
The provisions of Sections 9.5, 9.6, 9.7, 9</FONT><FONT STYLE="color: #000001">.8</FONT><FONT STYLE="color: #000004">, 9</FONT><FONT STYLE="color: #000001">.9</FONT><FONT STYLE="color: #000004">,
10, 16 and 17</FONT><FONT STYLE="color: #373739">.</FONT><FONT STYLE="color: #000004">1 shall survive the termination or expiration
of this agreement and shall be liberally construed in favor of LightPath.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75pt; color: #000004">13. Quality Requirements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">13.1</FONT><FONT STYLE="color: #000001">.
</FONT><FONT STYLE="color: #000004">It is LightPath&rsquo;s desire to always receive the highest quality possible in Gradium Boule</FONT><FONT STYLE="color: #000001">s
</FONT><FONT STYLE="color: #000004">purchased from NHG. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">13</FONT><FONT STYLE="color: #000001">.</FONT><FONT STYLE="color: #000004">2</FONT><FONT STYLE="color: #000001">.
</FONT><FONT STYLE="color: #000004">Minimum wavefront quality levels for Gradium Glass are defined by LightPath Procurement Specifications
as listed in paragraph 13.4. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">13</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">3.
The minimum dimension for a 9 inch boule across the short section is 7 inches and 8 inches for all other dimensions. The minimum
dimension for a 13 inch Boule across the short section is 11 inches and 12 inches for all other dimensions. All Boules are to be
milled to standard thickness per LightPath procedures unless otherwise mutually agreed. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">13</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">4</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000004">The quality requirements are defined in the LightPath Procurement Specifications for the various
types of Gradium Boules; specifications, 9000179Rev A, 9000180RevA, 9000181Rev A, 9000182Rev A and 9000183Rev A. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">13.5.<I> </I>The
wavefront quality and profile precision is to be measured by NHG for every Boule to be sold to LightPath and the data from both
prisms is to be provided with each Boule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">13.6. The profile
precision is to be measured using at least 2 prisms spaced a maximum distance apart from one another.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">13.7. When purchasing
Boules for large lens orders, LightPath may request that NHG mill all Boules for that order to a common Delta Z value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">13.8. For all
products sold and/or manufactured directly or indirectly by NHG under this agreement, NHG shall certify to LightPath in writing
whether such products meet or fail the quality provisions set forth herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.15pt"><FONT STYLE="color: #000004">14</FONT><FONT STYLE="color: #212122">.
</FONT><FONT STYLE="color: #000004">Training </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">14</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000004">1.
Upon execution of this agreement, LightPath will train NHG in the production and testing of Gradium and in lens fitting techniques
to accurately define Delta Z for any given lens using measured profile data</FONT><FONT STYLE="color: black">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.65pt; color: #000004">15. Non Performance and Rights of
Manufacture</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">15.1.
If at any time, and in its sole discretion, LightPath deems that NHG is not able or willing to provide Gradium glass of appropriate
quality or quantity or in a timely manner, LightPath reserves the right, among any other rights LightPath may have, to manufacture
Gradium glass for its own use and for sale</FONT><FONT STYLE="color: #212122">. </FONT><FONT STYLE="color: #000004">LightPath may
also terminate this agreement immediately if NHG does not remedy quality failures within 30 days after being notified by LightPath
of its intent to terminate for quality failure reasons unless otherwise agreed in writing</FONT><FONT STYLE="color: black">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.7pt; text-indent: -36.7pt; color: #000003">16. General
Provisions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">16.1.
This is the entire agreement between NHG and LightPath regarding the matters set forth herein. Neither party can change any part
of the agreement without the prior written consent of the other party, nor may this agreement be amended except in writing signed
by both parties</FONT><FONT STYLE="color: black">. This agreement and all matters arising from or related to it or its subject
matters shall be governed by, remedied and construed in accordance with the laws of the State of Florida, USA, without resort or
regard to Florida&rsquo;s conflict of laws principles or precedent. The parties hereby agree to be bound by the exclusive jurisdiction
of any federal or state court located in Orange County, Florida and shall not challenge the proprietary of venue thereof, including
but not limited to assertion of a challenge based on in convenience, except that, at LightPath&rsquo;s option, the parties shall
submit any controversy or dispute under this agreement to binding </FONT><FONT STYLE="color: #000003">arbitration before an independent
and mutually agreed board of arbitrators, which arbitration will be conducted in Orlando, Florida under the rules and regulations
of the American Arbitration Association. If a suit is filed or any matter is submitted to arbitration hereunder</FONT><FONT STYLE="color: black">,
</FONT><FONT STYLE="color: #000003">the prevailing party in such suit or arbitration is entitled to recover from the non-prevailing
party its reasonable attorney&rsquo;s fees and costs.</FONT><FONT STYLE="color: #2C2D2E"> </FONT><FONT STYLE="color: #000003">Each
party will notify the other as soon as reasonably practicable after determining that the other party is in breach of any obligation
under or provision of this agreement, but if either party delays in notifying the other, the non-defaulting party will still retain
all rights and remedies available to it under this agreement</FONT><FONT STYLE="color: black">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">16</FONT><FONT STYLE="color: #2C2D2E">.</FONT><FONT STYLE="color: #000003">2.
This agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
NHG shall not have the right to assign or otherwise transfer its rights hereunder or any interest herein without the prior written
consent of </FONT><FONT STYLE="color: #2C2D2E">L</FONT><FONT STYLE="color: #000003">ightPath. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">16.3</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000003">Neither LightPath nor NHG shall by reason of the termination or non-renewal of this agreement
be liable to the other for compensation, reimbursement or damages on account of the loss of prospective profits, or anticipated
sales or on account of expenditure</FONT><FONT STYLE="color: black">s</FONT><FONT STYLE="color: #000003">, investments, leases,
property improvements or commitments in connection with the business or good will of LightPath, NHG, or otherwise. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">16</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000003">4.
All notices, demands and other communications to be given or delivered under or by reason of the provisions of this agreement shall
be in writing and shall be deemed to have been given and received when personally delivered or as of ten (10) business days following
the date of deposit thereof for mailing if mailed by certified mail, return receipt requested, three (3) business day after deposit
with a recognized overnight carrier service or upon electronic or other confirmation of successful transmission of a facsimile.
Notices, demands and communications to the parties hereto, unless another address is specified in writing in accordance herewith,
shall be sent to the parties&rsquo; respective addresses set forth on the signature page to this agreement.</FONT><FONT STYLE="color: black">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">16</FONT><FONT STYLE="color: black">.</FONT><FONT STYLE="color: #000003">5</FONT><FONT STYLE="color: black">.
</FONT><FONT STYLE="color: #000003">If any term or provision of this agreement or the application thereof to any person or circumstance
shall, to any extent, be invalid or unenforceable, then, without waiving any right of appeal: (a) if possible, the provision shall
be reconstituted to approximate as closely as legally possible to achieve the intent evident in the term or provision; and (b)
the remainder of this agreement or the application of such term or provision to persons or circumstances other than those as to
which it is held invalid and unenforceable, shall not be affected thereby. In any case, each term and provision of this agreement
shall be valid and be enforceable to the fullest extent permitted by law. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000003">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000003">16.6.
This agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of </FONT><FONT STYLE="color: #000004">which taken together shall constitute but one and the same instrument</FONT><FONT STYLE="color: #000001">.
</FONT><FONT STYLE="color: #000004">Headings in this agreement are in</FONT><FONT STYLE="color: #000001">c</FONT><FONT STYLE="color: #000004">luded
herein for convenience of reference only and shall not constitute a part of this agreement for any other purpose. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">16.7.
If either party to this agreement shall breach its representations or warranties set forth herein or shall fail to fulfill or perform
any of its covenants or obligations in this agreement, that party shall pay all costs, including, without limitation, reasonable
attorneys&rsquo; fees, that may be incurred by the other to enforce such other party&rsquo;s rights hereunder</FONT><FONT STYLE="color: #000001">.
</FONT><FONT STYLE="color: #000004">Notwithstanding anything in this agreement to the contrary, the covenants contained in this
Section shall survive any termination of this agreement</FONT><FONT STYLE="color: #000001">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">16.8.
Each party agrees that during the course of this agreement, information that is confidential or proprietary may be disclosed to
the other party, including, but not limited to software, technical processes and formulas, source codes, product designs, sales,
cost and other unpublished financial information, product and business plans, advertising revenues, usage rates, advertising relationships,
projections, and marketing data (&ldquo;Confidential Information&rdquo;). Confidential Information shall not include information
that the receiving party can demonstrate (a) is, as of the time of its disclosure, or thereafter becomes part of the public domain
through a source other than the receiving party or any other party subject to a confidentiality obligation regarding such information,
(b) was known to the receiving party as of the time of its d</FONT>i<FONT STYLE="color: #000004">s</FONT><FONT STYLE="color: #000001">c</FONT><FONT STYLE="color: #000004">losure,
as proven through written business records, from a source not bound by a confidentiality obligation regarding such information,
(c) is independently developed by the receiving party without use of or reference to any Confidential Information of the other
party, as proven through written business records, or (d) is subsequently learned from a third party not under a confidentiality
obligation to the providing party</FONT><FONT STYLE="color: #000001">. </FONT><FONT STYLE="color: #000004">Except as provided for
in this agreement, each party shall not make any disclosure of the other party&rsquo;s Confidential Information to anyone other
than its employees who have a need to know in connection with this agreement and have executed and delivered to the other party
a confidentiality agreement in form and substance acceptable to the other party</FONT><FONT STYLE="color: #000001">. </FONT><FONT STYLE="color: #000004">Each
party shall notify its employees of their confidentiality obligations with respect to the Confidential Information and shall require
its employees to comply with these obligations</FONT><FONT STYLE="color: #000001">. </FONT><FONT STYLE="color: #000004">The confidentiality
obligations of each party and its employee</FONT><FONT STYLE="color: #000001">s </FONT><FONT STYLE="color: #000004">shall survive
the expiration or termination of this agreement for a period of three years</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">16.9.
At any time while this agreement is in effect, NHG and LightPath may begin the negotiation process for NHG to purchase all Gradium
IP from LightPath, including its customer list</FONT><FONT STYLE="color: #000001">. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000001">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000001">16.10. All payments
due to LightPath under this agreement shall be made in United States dollars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000001">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.55in; text-indent: -0.55in; color: #000004">17. Indemnity</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.5pt; text-indent: -41.5pt; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 41.5pt; text-indent: -41.5pt"><FONT STYLE="color: #000004">17.1.
NHG agrees to defend, indemnify, and hold LightPath, and its officers, directors</FONT>, <FONT STYLE="color: #000004">agents, employees</FONT>,
<FONT STYLE="color: #000004">successors and assigns, and each of them, harmless </FONT>f<FONT STYLE="color: #000004">rom and against
any and all injury, claim, loss, damage, costs, expenses, actions and suits, whether groundless or otherwise</FONT>, <FONT STYLE="color: #000004">and
from and against any and all liabilities, judgments, losses, damages, costs, charges, reasonable attorneys&rsquo; fees and other
expenses of ever</FONT>y <FONT STYLE="color: #000004">nature and character attributable, directly or indirectly, to NHG&rsquo;s
acts or omissions in the operation of its business including, but not limited to, its operation under the license granted in this
agreement; its use of the IP or other intellectual property, including any use that infringes on or violates any third party&rsquo;s
intellectual property rights or applicable law or regulation; its manufacture, marketing, sale and distribution of Gradium or Gradium
based products, including the export or import of Gradium and Gradium based products; its purchase, export, transport, import,
use or possession of any equipment acquired from LightPath; or its performance of its obligations or breach of its </FONT>covenants,
<FONT STYLE="color: #000004">representations or </FONT>w<FONT STYLE="color: #000004">arranties contained in this agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="color: #000004">17.2.
</FONT>L<FONT STYLE="color: #000004">ightPath agrees </FONT>t<FONT STYLE="color: #000004">o defend, indemnify, and hold NHG</FONT>,
<FONT STYLE="color: #000004">and its officers</FONT>, <FONT STYLE="color: #000004">directors, agents, employees, successors and
assigns, and each of them, harmless from and against any and all injury, claim</FONT>, <FONT STYLE="color: #000004">loss, damage,
costs, expenses, actions and suits, whether groundless or other</FONT>wi<FONT STYLE="color: #000004">se, and from and against any
and all liabilities, judgments, losses, damages, costs</FONT>, <FONT STYLE="color: #000004">charges, reasonable attorneys&rsquo;
fees and other expenses of every nature and character attributable, directly or indirectly, to LightPath&rsquo;s breach of its
covenants, representations or warranties contained </FONT>i<FONT STYLE="color: #000004">n this agreement. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: #000004">18</FONT>. <FONT STYLE="color: #000004">Attachments
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">The following Attachments are hereby attached
and incorporated into this agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">Attachment A
entitled &ldquo;LightPath U.S., PCT and Foreign Patent Summary Report&rdquo;; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in; color: #000004">Attachment B
entitled &ldquo;LightPath U.S. Trademark Summary.&rdquo;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center; text-indent: -0.5in; color: #000004">[Signatures
on Following Page]</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #000004">IN WITNESS WHEREOF, the parties hereto have
executed this Memorandum of Understanding as of the day and year first written above.</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; color: #000004; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 50%; color: #000004; font-weight: bold">&ldquo;LIGHTPATH&rdquo;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">LightPath Technologies Inc.</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; color: #000004">&nbsp;</TD>
    <TD STYLE="width: 4%; color: #000004">By:</TD>
    <TD STYLE="width: 46%; color: #000004; padding-left: 0.24in; border-bottom: Black 1pt solid">/s/ James Gaynor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">James Gaynor, Chief Executive Officer</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; color: #000004">&nbsp;</TD>
    <TD STYLE="width: 12%; color: #000004">Address:</TD>
    <TD STYLE="width: 38%; color: #000004">2603 Challenger Tech Court</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Suite 100</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Orlando, Florida 32826</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">USA</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Attention:&nbsp; James Gaynor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Fax:</TD>
    <TD STYLE="color: #000004">407-382-4007</TD></TR>
</TABLE>
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    <TD STYLE="width: 50%; color: #000004; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 50%; color: #000004; font-weight: bold">&ldquo;NHG&rdquo;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #000004; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Hubei New Hua Guang Information Materials Co., Ltd.</TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; color: #000004">&nbsp;</TD>
    <TD STYLE="width: 5%; color: #000004">By:</TD>
    <TD STYLE="width: 45%; border-bottom: windowtext 1pt solid; color: #000004">/s/ Zhang Wei</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; color: #000004">Zhang Wei</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; color: #000004">Standing Deputy General Manager</TD></TR>
</TABLE>
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    <TD STYLE="width: 50%; color: #000004">&nbsp;</TD>
    <TD STYLE="width: 12%; color: #000004">Address:</TD>
    <TD STYLE="width: 38%; color: #000004">No. 67 ChaNHGong Beilu</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Xianqfan, Hubei 441057</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">China</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Attention: Zhang Wei</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: #000004">&nbsp;</TD>
    <TD STYLE="color: #000004">Fax:</TD>
    <TD STYLE="color: #000004">0086-710-3349308</TD></TR>
</TABLE>
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<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>v325446_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html><head><META content="text/html; charset=utf-8"></META></head><body style="font-size:10pt;font-family:Arial;color:black;"><div style="width:100%;margin-left:10pt"><p style="text-align:center"><b>LightPath Technologies grants GRADIUM&#174; technology license to Hubei, New HuaGuang Information Materials Company, Ltd. (NHG)</b></p></div><div style="width:100%;margin-left:10pt;"><div style="margin:0;margin-top:16pt;"><p>ORLANDO, Fla., Oct.  11, 2012 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) (&#34;LightPath,&#34; the &#34;Company&#34; or &#34;we&#34;), a global manufacturer, distributor and integrator of patented optical components and high-level assemblies, has partnered with NHG, a major manufacturer and provider of optical materials, and granted to NHG an exclusive license to manufacture and distribute GRADIUM&#174; glass products in Asia and, in particular, China,
using LightPath intellectual property. The license is exclusive, non-assignable, non-transferable and has an initial term of five years. </p><p>(Logo: http://photos.prnewswire.com/prnh/20120202/FL45310LOGO )</p><p>GRADIUM&#174; lenses are made from LightPath&#39;s proprietary axial gradient index glass, with unique refractive qualities that can be manipulated to reduce spherical aberrations and yield performance similar to single-term aspheres, at a fraction of the cost. GRADIUM&#174; lenses, which have been applied as simple singlets or doublets in complex multi-element systems, have been very well received for use in high-power industrial laser systems by many of the world&#39;s largest Nd:YAG laser and fiber laser manufacturers.  These optics are being included in laser delivery systems spanning a wide variety of products in end markets that include laser cutting, marking, and
welding.</p><p>Jim Gaynor, President and CEO of LightPath Technologies, stated, &#34;We are pleased and excited to have found such an excellent partner for the distribution of the GRADIUM&#174; product into the Asian and, specifically, the Chinese market. NHG is a well known and respected producer of optical materials in China, and we believe there is potential for additional partnership opportunities with NHG in the future. We believe NHG will be very successful in broadening the exposure of our GRADIUM&#174; products in Asia and that this partnership will continue to expand LightPath&#39;s distribution network and contribute to our company&#39;s growth throughout China and Asia well into the future.&#34; </p><p>Recently LightPath announced its strategic initiatives to apply the knowledge and experience developed over the last twenty-five years in the visible optics market to develop a
low-cost manufacturing technique for the production of infrared optics. The Company expects commercial sales of various infrared products to launch in the fourth quarter of calendar 2012. Applications of infrared and thermal imaging technology have grown dramatically over the last ten years into various markets including industrial inspection, automotive safety, chemical and biological sensing and security and surveillance. These markets are expected to generate over $20 billion in system-wide sales in 2014.    </p><p><b>About NHG
<br /></b>NHG is a public company traded on the Shanghai Stock exchange. It is a producer of ophthalmic and optical glass products with over 800 employees that produces over 6000 tons of optical materials per year. Its products are used in digital cameras, projectors and monitors. NHG has over 30 years of business experience.  </p><p><b>About LightPath Technologies
<br /></b>LightPath Technologies is a global leader in the manufacture and distribution of molded glass optics for a variety of applications including telecommunications, defense, medical and industrial-laser optics &#8211; markets that exceed $200 million at the component level. LightPath manufactures optical products including precision molded aspheric optics, GRADIUM&#174; glass products, proprietary collimator assemblies, laser components utilizing proprietary automation technology, higher-level assemblies and packing solutions. LightPath has a strong patent portfolio in these fields. LightPath common stock trades on the Nasdaq Capital Market under the stock symbol LPTH. For more information visit www.lightpath.com </p><p><b>Investor Contact:
<br /></b>Brett Maas, Managing Partner
<br />Hayden IR
<br />Tel: 646-536-7331
<br />Email: Brett@haydenir.com
<br />Web: www.haydenir.com</p><p>This news release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our ability to expand our presence in certain markets, future sales growth, continuing reductions in cash usage and implementation of new distribution channels. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, we do not have
any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.</p><p> </p><br /><br /><p></p><p></p></div></div></body></html>
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