<SEC-DOCUMENT>0001387131-16-005224.txt : 20160503
<SEC-HEADER>0001387131-16-005224.hdr.sgml : 20160503
<ACCEPTANCE-DATETIME>20160503112942
ACCESSION NUMBER:		0001387131-16-005224
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20160428
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160503
DATE AS OF CHANGE:		20160503

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:		161614284

	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>lpth-8k_042816.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>




<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>Washington, D.C. 20549 </B></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 2in; color: black">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

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

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 2in; color: black">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934 </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>April 28, 2016 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>Date of Report (Date of earliest event reported)
</B></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 2in; color: black">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>(Exact name of registrant as specified in
its charter) </B></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 2in; color: black">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 33%; text-align: center"><B>Delaware</B></TD>
    <TD STYLE="vertical-align: top; text-align: center; width: 34%"><B>000-27548</B></TD>
    <TD STYLE="width: 33%; text-align: center"><B>86-0708398</B></TD></TR>
<TR>
    <TD>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>incorporation or organization)</B></P></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-size: 7.5pt"><B>(Commission File Number)</B></FONT></TD>
    <TD>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(I.R.S. Employer</B></P>
        <P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0 0 0.75pt; text-align: center"><B>Identification Number)</B></P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

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

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

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Address of principal executive office,
including zip code) </B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Registrant&rsquo;s telephone number, including
area code) </B></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Former name or former address, if changed
since last report)</B></P>

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 2.25pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp;&nbsp; Written communications pursuant to Rule
425 under the Securities Act (17 CFR 230.425)<BR>
<BR>
&#9744;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR240.14a-12)<BR>
<BR>
&#9744;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b))<BR>
<BR>
&#9744;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c))</P>

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


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 5.02. Departure of Directors or Principal
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: windowtext">On April 28,
2016, the Board of Directors </FONT>(the &ldquo;Board&rdquo;) of LightPath Technologies, Inc. (the &ldquo;Company,&rdquo; &ldquo;we,&rdquo;
&ldquo;us,&rdquo; or &ldquo;our&rdquo;) appointed Craig Dunham to serve on the Board effective immediately. Mr. Dunham was appointed
to fill a vacancy created by our Board to expand the size of our Board from seven to eight directors. Mr. Dunham will serve as
a Class III director until our annual stockholders&rsquo; meeting proposed to be held in 2018, and until his successor is elected
and qualified.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board affirmatively determined that Mr.
Dunham qualifies as an independent director. Mr. Dunham has also been appointed to serve on the Audit Committee.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">Mr. Dunham, age 60, previously served as a consultant to
the Board beginning in May 2014 until his appointment to the Board in April 2016. Since March 2015, he has been an Operating Partner
with a merger and acquisition advisory firm as well as doing business consulting. From May 2011 until March 2015, Mr. Dunham served
as the Chief Executive Officer and Director of Applied Pulsed Power Inc., a pulsed power components and systems company near Ithaca,
New York. From 2004 until 2011, Mr. Dunham was President, Chief Executive Officer and Director of Dynasil Corporation (NASDAQ:
DYSL). He continues to be a Director at Dynasil and is a member of their audit committee. Prior to joining Dynasil, Mr. Dunham
spent approximately one year partnering with a private equity group to pursue acquisitions of mid-market manufacturing companies.
From 2000 to 2003, he was Vice President/General Manager of the Tubular Division at Kimble Glass Corporation. From 1979 to 2000,
he held progressively increasing leadership responsibilities at Corning Incorporated (&ldquo;Corning&rdquo;) in manufacturing,
engineering, commercial, and general management positions. At Corning, Mr. Dunham delivered results in various glass and ceramics
businesses including optics and photonics businesses. Mr. Dunham earned a Bachelor of Science in Mechanical Engineering and a
Master&rsquo;s degree in Business Administration from Cornell University. Mr. Dunham&rsquo;s expertise in executive leadership,
financial, operations and management, business acumen, optics/photonics market knowledge, and knowledge of the acquisitions process,
qualifies him for service as one of our directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">There is no arrangement or understanding between
Mr. Dunham and any other person pursuant to which Mr. Dunham was elected as one of our directors. We are not aware of any transaction
requiring disclosure under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Dunham will be compensated for his service
on our Board as generally described for all directors in our Proxy Statement for our 2016 Annual Meeting of Stockholders filed
with the Securities and Exchange Commission on December 18, 2016.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A press release announcing Mr. Dunham&rsquo;s
appointment is attached hereto as Exhibit 99.1.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 5.05. Amendments to the Registrant&rsquo;s
Code of Ethics, or Waiver of a Provision of the Code of Ethics</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 28, 2016, the Board approved and adopted
an amended and restated Code of Business Conduct and Ethics (the &ldquo;Code of Ethics&rdquo;), which applies to all of our employees,
officers, and directors, including our principal executive officer, principal financial officer, and principal accounting officer
or controller, or persons performing similar functions. The Code of Ethics consolidates the former Employee Code of Business Conduct
and Ethics and the Code of Business Conduct and Ethics for Members of the Board of Directors. The amendments are intended to: (i)
better conform the Code of Ethics to the requirements of Item 406 of Regulation S-K, NASDAQ Rule 5610, and current &ldquo;best
practices,&rdquo; and (ii) improve the clarity and readability of the Code of Ethics.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The amendments include expansion or additions
of certain sections of the Code of Ethics to: (i) provide additional guidance on the types of situations that may create conflicts
of interests; (ii) revise the process for reporting potential conflicts of interest; (iii) provide additional guidance on the
types of information that must be kept confidential; (iv) expand the obligation to protect and properly use our assets to include
our proprietary information; (v) clarify the type of information that must be kept confidential; (vi) clarify the duty to promote
full, fair, accurate, timely, and understandable disclosure; (vii) clarify the types of gifts that may be given or accepted; (viii)
clarify the process for reporting violations or alleged violations of the Code of Ethics; (ix) authorize the Chairman of the Audit
Committee to oversee all investigations of alleged violations of the Code of Ethics; (x) provide the Board with authority to take
preventative or disciplinary action in the event of a violation of the Code of Ethics; and (xi) make certain other administrative
and non-substantive amendments. The amendments to the Code of Ethics did not result in any explicit or implicit waiver of any
provision of the Code of Ethics in effect prior to the amendments. The description of the Code of Ethics is a summary and is qualified
in its entirety by reference to the Code of Ethics, a copy of which is attached hereto as Exhibit 14.1 and incorporated herein
by reference. The Code of Ethics will also be posted on our website at <U>www.lightpath.com</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Board also approved and adopted an amended
and restated Code of Business Conduct and Ethics for Senior Financial Officers (the &ldquo;Senior Financial Officer Code&rdquo;),
which applies to our Chief Executive Officer, Chief Financial Officer, principal accounting officer, controller, accounting manager,
and persons performing similar functions (collectively, the &ldquo;Senior Financial Officers&rdquo;). The amendments are intended
to (i) improve the clarity and readability of the Senior Financial Officer Code and (ii) better conform the Senior Financial Officer
Code to current &ldquo;best practices.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The amendments include expansions or
additions of certain sections of the Senior Financial Officer Code to: (i) specifically provide for the obligations of the
Senior Financial Officers in performing their respective duties; (ii) clarify the situations requiring prompt disclosure to
the Audit Committee; (iii) authorize the Chairman of the Audit Committee to oversee all investigations of alleged violations
of the Senior Financial Officer Code; (iv) provide the Board with authority to take preventive or disciplinary action in the
event of a violation of the Senior Financial Officer Code; and (v) make certain other administrative and non-substantive
amendments. The amendments to the Senior Financial Officer Code did not result in any explicit or implicit waiver of any
provision of the Senior Financial Officer Code in effect prior to the amendment. The description of the Senior Financial
Officer Code is a summary and is qualified in its entirety by reference to the Senior Financial Officer Code, a copy of which
is attached hereto as Exhibit 14.2 and incorporated herein by reference. The Senior Financial Officer Code will also be
posted on our website at www.lightpath.com.</P>

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


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 8.01. Other Events</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 28, 2016, the Board also approved
and adopted (i) a Compensation Committee Charter (the &ldquo;Compensation Committee Charter&rdquo;), (ii) a Nominating and Corporate
Governance Charter (the &ldquo;Nominating Committee Charter&rdquo;), and (iii) a Finance Committee Charter (the &ldquo;Finance
Committee Charter,&rdquo; and, collectively with the Compensation Committee Charter, and the Nominating Committee Charter, the
&ldquo;Charters&rdquo;). The approval and adoption of the Charters reflects our commitment to further enhance our corporate governance
practices. Copies of the Compensation Committee Charter, Nominating Committee Charter, and Finance Committee Charter are attached
hereto as Exhibits 99.2, 99.3, and 99.4, respectively, and are incorporated herein by reference. Copies will also be posted on
our website at www.lightpath.com.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>(d) Exhibits</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; text-decoration: underline"><B><U>Exhibits</U></B></TD>
    <TD STYLE="width: 85%; text-decoration: underline"><B><U>Description of Exhibits</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>14.1*</TD>
    <TD><A HREF="ex14-1.htm">Code of Business Conduct and Ethics</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>14.2*</TD>
    <TD><A HREF="ex14-2.htm">Code of Business Conduct and Ethics for Senior Financial Officers</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.1*</TD>
    <TD><A HREF="ex99-1.htm">Press Release dated May 3, 2016</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.2*</TD>
    <TD><A HREF="ex99-2.htm">Compensation Committee Charter</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.3*</TD>
    <TD><A HREF="ex99-3.htm">Nominating and Corporate Governance Committee Charter</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>99.4*</TD>
    <TD><A HREF="ex99-4.htm">Finance Committee Charter</A></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">____________</P>

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

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


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-indent: 0.5in">&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>&nbsp;</TD>
    <TD COLSPAN="3">LIGHTPATH TECHNOLOGIES, INC.&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%">Dated: May 3, 2016</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid; padding-left: 12pt; text-indent: -12pt">&nbsp;&nbsp;&nbsp;&nbsp;/s/ Dorothy M. Cipolla</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><I>&nbsp;&nbsp;&nbsp;&nbsp;Dorothy M. Cipolla,&nbsp;&nbsp;CFO</I></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

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

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-14.1
<SEQUENCE>2
<FILENAME>ex14-1.htm
<DESCRIPTION>CODE OF BUSINESS CONDUCT AND ETHICS
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>
<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left"><A HREF="lpth-8k_042816.htm">LightPath Technologies, Inc. 8-K</A><B>&nbsp;</B></P>


<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Exhibit 14.1</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">LIGHTPATH TECHNOLOGIES, INC.</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Code of Business Conduct and Ethics</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">LightPath Technologies, Inc. (the &ldquo;Company&rdquo;)
is committed to conducting its business in compliance with all applicable laws, rules, and regulations and in accordance with the
highest ethical standards. Accordingly, the Board of Directors has adopted this Code of Ethics and Business Conduct (this &ldquo;Code&rdquo;)
in order to:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">promote honest and ethical conduct, including
the ethical handling of actual or apparent conflicts of interest;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">promote full, fair, accurate, timely, and
understandable disclosure in reports and documents that the Company files with, or submits to, the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;) and in other public communications made by the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">promote compliance with applicable governmental
laws, rules, and regulations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">promote the protection of Company assets,
including corporate opportunities and confidential information;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">promote fair dealing practices;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">deter wrongdoing; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ensure accountability for adherence to
this Code.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">1.&#9;<U>Compliance</U>.
This Code applies to all employees, officers, and directors of the Company. Compliance with this Code is, first and foremost, the
individual responsibility of each employee, officer, and director. All employees, officers, and directors are required to be familiar
with this Code, comply with its provisions, and report any suspected violations in accordance with the procedures set forth in
this Code.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">2.&#9;<U>Conflicts of Interest</U>.
In carrying out their responsibilities, all employees, officers, and directors have a duty to always act in the best interests
of the Company and its stockholders. An employee, officer, or director may be unable to fulfill this duty if a conflict exists
between his or her personal interests and the interests of the Company. Generally, a conflict of interest can arise whenever the
personal interests of an employee, officer, or director (or the interest of one of their Family Members) interferes with, or even
appears to interfere with, or is adverse to, or even appears to be adverse to, the interests of the Company. A conflict of interest
can arise when an employee, officer, or director (or his or her Family Member) takes actions or has interests that may make it
difficult to perform his or her work for the Company objectively and effectively. A conflict of interest also arises when an employee,
officer, or director (or his or her Family Member) receives improper personal benefits as a result of his or her position in the
Company. For purposes of this Code, a &ldquo;Family Member&rdquo; means a person&rsquo;s spouse, parents, children, siblings, whether
by blood, marriage, or adoption, and anyone residing in such person&rsquo;s home.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo; Options: Hidden -->&nbsp;<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">While it is not possible to list all of the
situations that could present a conflict of interest, some examples include:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ownership of a material financial interest
in any business or other enterprise that does business (whether as a supplier, customer, or otherwise), or is seeking to do business,
with the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">serving as a director, officer, or partner
of, or in any other managerial role with respect to, or as a consultant to, any business or other enterprise that does business
(whether as a supplier, customer, or otherwise), or is seeking to do business, with the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ownership of a material financial interest
in, or serving as a director, officer, or partner of, or in any other managerial role with respect to, or as a consultant to, any
competitor of the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">acting as a broker, finder, or other intermediary
in any transaction involving the Company;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">any situation where the employee, officer,
or director will receive any payment of money, services, loan, guarantee, or any other personal benefits from within the Company
or a third party in anticipation of or as a result of any transaction or business relationship between the Company and a third
party;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">ownership of a material financial interest
in any business or other enterprise that does business (whether as a supplier, customer, or otherwise), or is seeking to do business,
with any competitor of the Company; or</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">taking a public position or making public
statements contrary to the best interests of the Company or that could result in embarrassment to the Company.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">All employees and officers are encouraged to
avoid relationships that have the potential for creating an actual or apparent conflict of interest. Employees and officers must
be free of any conflict of interest whenever they act on behalf of the Company, including engaging in negotiations or recommending
or approving a transaction, arrangement, or relationship with an existing or potential customer, supplier, lender, or investor.
Any officer who has a conflict of interest with respect to any matter is required to make prompt and full disclosure of the matter
to the Chief Executive Officer or, in the case of the Chief Executive Officer, to the Chairman of the Audit Committee. All other
employees are required to make prompt and full disclosure of any conflict of interest to his or her immediate supervisor, who shall
then make prompt and full disclosure of the matter to the Chief Executive Officer. No employee or officer is permitted to participate
in any matter in which he or she has a conflict of interest unless authorized by an appropriate Company official and under circumstances
that are designed to protect the interests of the Company and its stockholders and avoid any appearance of impropriety.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Directors are required to disclose any conflict
of interest to the Chairman of the Audit Committee and to refrain from voting on any matter(s) in which they have a conflict of
interest.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Any other employee who has a question as to
whether a situation or relationship might constitute a conflict of interest is required to consult with his or her immediate supervisor,
who should then consult with the Chief Executive Officer. Any officer who has a question as to whether a given situation or relationship
might represent a conflict of interest is required to consult with the Chief Executive Officer. Any director who has a question
as to whether a situation or relationship might constitute a conflict of interest is required to consult with the Chairman of the
Audit Committee.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">3.&#9;<U>Honest and Ethical
Conduct</U>. The Company&rsquo;s policy is to promote high standards of integrity by conducting its affairs honestly and ethically.
Each employee, officer, and director must act with integrity and observe the highest ethical standards of business conduct in his
or her dealings with the Company&rsquo;s customers, suppliers, partners, service providers, competitors, employees, and anyone
else with whom he or she has contact in the course of his or her employment with, or service to, the Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">4.&#9;<U>Corporate Opportunities</U>.
All employees, officers, and directors owe a duty to the Company to advance its interests when the opportunity arises. Without
the prior consent of the Board of Directors, employees, officers, and directors are prohibited from: (a) taking for themselves
personally (or for the benefit of friends or Family Members) opportunities that are discovered through the use of Company assets,
property, information, or through their position with the Company; (b) using Company assets, property, information, or position
for personal gain; or (c) engaging in any business in competition with the Company.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">5.&#9;<U>Confidentiality</U>.
Employees, officers, and directors are required to maintain the confidentiality of, and not use for personal benefit, confidential
information entrusted to them by the Company, by its customers, suppliers, or partners, or otherwise acquired in the course of
their employment by, or service to, the Company, except when disclosure is expressly authorized or is required or permitted by
law. Confidential information includes all information protected by law or by an agreement between the Company and a third party,
as well as other non-public information that, if disclosed, might be harmful to the Company or useful to competitors, including,
but not limited to:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">trade secrets and other proprietary technical
information or data;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">undisclosed financial and accounting information;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">strategic information concerning current
and future business plans;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">pricing information;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">customer records;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">employee personnel records (e.g., job applications,
resumes, performance evaluations and records, compensation information, notices regarding performance, termination notices, etc.);
and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Courier New, Courier, Monospace; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">research information and records.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">6.&#9;<U>Protection and
Proper Use of Company Assets</U>. Proper protection and use of Company assets is the responsibility of each employee, officer,
and director. Employees, officers, and directors are required to promote the efficient use of Company assets and to take appropriate
security measures to safeguard physical property and other assets against unauthorized use or removal, as well as against loss
by wrongful acts or negligence. Employees, officers, and directors may use Company property only for legitimate business purposes
or as authorized by the Chairman of the Board of Directors or the Chairman of the Audit Committee. The obligation to protect Company
assets includes the Company&rsquo;s proprietary information. Proprietary information includes, but is not limited to, intellectual
property, such as trade secrets, patents, trademarks, and copyrights, as well as business and marketing plans, engineering and
manufacturing ideas, designs, databases, records, and any non-public financial data or reports.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">7.&#9;<U>Fair Dealing</U>.
Each employee, officer, and director must deal fairly with the Company&rsquo;s directors, employees, customers, suppliers, partners,
service providers, competitors, and anyone else with whom he or she has contact in the course of his or her employment with, or
service, to the Company. No employee, officer, or director may take unfair advantage of any such persons through manipulation,
concealment, abuse of privileged information, misrepresentation of facts, or any other unfair dealing practices.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">8.&#9;<U>Compliance</U>.
Each employee, officer, and director is expected to understand and comply with both the letter and spirit of all applicable laws,
rules, and regulations and with all Company policies and procedures that apply to matters for which he or she is responsible. Any
employee, officer, or director who is uncertain as to the meaning or interpretation of any law, rule, regulation, policy, or procedure,
or its application to his or her responsibilities, is expected to seek advice from a supervisor, manager, or other appropriate
Company official, in the case of an employee or officer, or from the Chairman of the Audit Committee, in the case of a director.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">9.&#9;<U>Insider Trading</U>.
No employee, officer, or director may purchase or sell any Company securities while in possession of material non-public information
regarding the Company, nor may any employee, officer, or director purchase or sell another company&rsquo;s securities while in
possession of material non-public information regarding that company. All employees, officers, and directors are required to adhere
to the Company&rsquo;s policy entitled Guide for Trading in Securities by Employees, Officers, and Directors, which governs trading
by employees, officers, and directors in the Company&rsquo;s stock.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">10.&#9;<U>Disclosure</U>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify"><I>Obligations of the Company</I>. As a public company, the Company has a responsibility to report
financial information to security holders so that they are provided with accurate information in all material respects about the
Company&rsquo;s financial condition and results of operations. It is the Company&rsquo;s policy to fully and fairly disclose the
financial condition of the Company in compliance with applicable accounting principles, laws, rules, and regulations. Further,
it is the Company&rsquo;s policy to promote full, fair, accurate, timely, and understandable disclosure in all of the Company&rsquo;s
reports required to be filed with or submitted to the SEC, as required by applicable laws, rules, and regulations then in effect,
and in other public communications made by the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify"><I>Obligations of Employees, Officers, and Directors.</I> All books and records of the Company
shall fully and fairly reflect all Company transactions in accordance with accounting principles generally accepted in the United
States of America, and any other financial reporting or accounting regulations to which the Company is subject. Each employee,
officer, and director who contributes in any way to the preparation or verification of the Company&rsquo;s financial statements
and other financial information must (i) ensure that the Company&rsquo;s books, records, and accounts are accurately maintained,
(ii) cooperate fully with the Company&rsquo;s accounting and internal audit departments, as well as the Company&rsquo;s independent
public accountants and legal counsel, and (iii) take all necessary steps to ensure that all filings with the SEC and all other
public communications about the financial and business condition of the Company provide full, fair, accurate, timely, and understandable
disclosure.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify"><I>Disclosure Controls and Internal Controls Over Financial Reporting. </I> Each employee, officer,
and director who is involved in the Company&rsquo;s disclosure process must be familiar with and comply with the Company&rsquo;s
disclosure controls and procedures and its internal control over financial reporting.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt"><I>&nbsp;</I></P>


<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD NOWRAP STYLE="width: 27pt; padding-left: 0.25in">11.&nbsp;<U>Gifts</U>.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify"><I>Improper Payments and Gifts to Third Parties</I>. Except for permitted gifts (as described below),
neither the Company nor any employee, officer, or director shall, either directly or indirectly, authorize or make any payment
or gift of money or any other thing of value (including materials, equipment, facilities, or services) to any (i) current or prospective
customer, supplier, or competitor of the Company or to government officials or (ii) any director, officer, employee, partner, stockholder,
or owner of a current or prospective customer, supplier, or competitor, if the purpose of the payment or the gift is to induce
the current or prospective customer, supplier, competitor, or government official improperly to grant or convey any benefit to,
or forgo any claim against, the Company or any of its employees, officers, or directors, or otherwise to influence a business or
other decision of the current or prospective customer, supplier, competitor, or government official.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify"><I>Permitted Gifts</I>. An employee, officer, or director may make gifts, generally in the form
of meals, entertainment, or specialty advertising items to the Company&rsquo;s customers, suppliers, or other third parties engaged,
or that may become engaged, in business with the Company if the gift meets all of the following criteria: (i) it is consistent
with customary business practices; (ii) it is not for an improper purpose; (iii) it is not in contravention of any applicable laws,
rules, regulations, or ethical standards; and (iv) public disclosure of the full details of the gift would not cause embarrassment
to the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify"><I>Acceptance of Gifts or Other Personal Benefits</I>. No employee, officer, or director shall
solicit from any supplier, customer, or other person doing business, or seeking to do business, with the Company any gift of money,
products, or services, gratuity, loans, or guarantees, or other personal benefits of any kind. An employee, officer, or director,
including their Family Members, may accept an unsolicited gift or gratuity of nominal value or reasonable business entertainment
(including recreation and attendance of sporting or cultural events) if the gift or gratuity meets all of the following criteria:
(i) it does not go beyond common courtesies usually associated with accepted business practices; (ii) it does not interfere with
the recipient&rsquo;s independence or judgment in carrying out his or her responsibilities on behalf of the Company; and (iii)
public disclosure of the full details of the gift or gratuity would not cause embarrassment to the Company. Any gifts or gratuities
that do not meet these requirements must to the extent possible be returned.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">12.&#9;<U>Where to Find
This Code</U>. A copy of this Code shall be furnished to each employee, officer, and director of the Company and shall be posted
on the Company&rsquo;s website.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">13.&#9;<U>Reporting Violations</U>.
Any employee, officer, and director who has knowledge of a violation by any employee, officer, or director of any law, rule, or
regulation or of this Code, or suspects that such a violation has occurred, is required to report the matter to the Chairman of
the Audit Committee or the Chairman of the Board of Directors. All valid concerns will be investigated under the direction of the
Chairman of the Audit Committee.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company will make every effort, within the
limits allowed by law, to keep confidential the identity of anyone requesting guidance or reporting a violation or suspected violation;
however, it may not be possible to maintain such confidentiality of the reported person or the reported information if (a) disclosure
is necessary to enable the Company or law enforcement officials to investigate the matter; (b) disclosure is required by law; or
(c) the person accused of a violation is entitled to the information as a matter of legal right. All employees, officers, and directors
are expected to cooperate, to the extent requested, in any investigation of any violation of any law, rule or regulation or this
Code.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">14.&#9;<U>Prohibition on
Retaliation</U>. No adverse action will be taken against any person who in good faith reports a violation, or a suspected violation,
by the Company, or any employee, officer, or director of any law, rule, or regulation or this Code. Any such retaliation is also
a violation of this Code and will be grounds for disciplinary action against the person or persons who engage in retaliation. Any
employee, officer, or director who believes that he or she has been retaliated against may file a complaint with the Chairman of
the Audit Committee, who shall be responsible for overseeing the investigation of the matter.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">15.&#9;<U>Enforcement of
this Code</U>. If, after investigating a report of an alleged violation of any law, rule, or regulation, or this Code, the Audit
Committee determines that a violation of this Code has occurred, the Audit Committee shall report such determination to the Board
of Directors. Upon receipt of a determination that there has been a violation of this Code, the Board of Directors will take such
preventative or disciplinary action as it deems appropriate, including, but not limited to, reprimand, probation, suspension, reduction
in salary, reassignment, demotion, dismissal and, in the event of criminal conduct or other serious violations of the law, notification
of appropriate governmental authorities.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.25in">16.&#9;<U>Amendments and
Waivers</U>. The Board of Directors must approve any amendment to this Code. Any waiver of this Code requires the approval of the
Board of Directors, and, in the case of an officer or director, must be promptly disclosed to the Company&rsquo;s stockholders
within four (4) business days of such determination in accordance with the rules of the SEC and NASDAQ.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Adopted by the Board of Directors on April 28,
2016.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Acknowledgement of Receipt and Review</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">I, __________________________, acknowledge that
I have received and read a copy of LightPath Technologies, Inc. Code of Business Conduct and Ethics (the &ldquo;Code&rdquo;). I
understand the contents of the Code and I agree to comply with the policies and procedures set out in the Code.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">I understand that I should approach the appropriate
person as specified in the Code if I have any questions about the Code generally or any questions about reporting a suspected conflict
of interest or other violation of the Code.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Courier New, Courier, Monospace; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 58%; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 9%; border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 33%; border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="layout-grid-mode: line; text-align: justify">&nbsp;</TD>
    <TD STYLE="layout-grid-mode: line; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Date: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; layout-grid-mode: line; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
<!-- Field: Page; Sequence: 8 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-14.2
<SEQUENCE>3
<FILENAME>ex14-2.htm
<DESCRIPTION>CODE OF BUSINESS CONDUCT AND ETHICS FOR SENIOR FINANCIAL OFFICERS
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left"><A HREF="lpth-8k_042816.htm">LightPath Technologies, Inc. 8-K</A><B>&nbsp;</B></P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">Exhibit 14.2</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><A NAME="a_Toc76959016"></A><A NAME="a_Toc76959260"></A><A NAME="a_Toc110142151"></A>LIGHTPATH
TECHNOLOGIES, INC.</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">CODE OF BUSINESS CONDUCT AND ETHICS</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">FOR SENIOR FINANCIAL OFFICERS</P>

<P STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">This Code of Business Conduct and Ethics for
Senior Financial Officers (this &ldquo;Code&rdquo;) has been adopted by the Board of Directors of LightPath Technologies, Inc.
(the &ldquo;Company&rdquo;) to promote honest and ethical conduct, accurate and timely disclosure of financial information in the
Company filings with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;), and compliance with all applicable laws, rules,
and regulations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company expects all of its employees to
carry out their responsibilities in accordance with the highest standards of personal and professional integrity and to abide by
the provisions of the Company&rsquo;s Code of Business Conduct and Ethics and all other policies and procedures that may be adopted
by the Company from time to time governing the conduct of its employees. This Code supplements the Company&rsquo;s Code of Business
Conduct and Ethics as it relates to the activities of the Company&rsquo;s Chief Executive Officer (&ldquo;CEO&rdquo;), Chief Financial
Officer (&ldquo;CFO&rdquo;), principal accounting officer, Controller, Accounting Manager, and persons performing similar functions
(collectively, the &ldquo;Senior Financial Officers&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Each Senior Financial Officer when performing
his or her duties must:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Maintain high standards of honest and ethical conduct, including the ethical handling of actual
or apparent conflicts of interest between personal and professional relationships.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">Take reasonable actions within the scope of his or her responsibilities to ensure that the disclosures
in reports and documents filed by the Company with the SEC and in other public communications made by the Company are full, fair,
accurate, timely, and understandable.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Comply with applicable laws, rules, and regulations.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">Act at all times in good faith, responsibly, with due care, and diligence in carrying out his or
her responsibilities.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">Maintain the confidentiality of confidential financial or other information acquired in the course
of employment, except when disclosure is properly authorized or is required by applicable law or legal process, and not use any
such confidential information for personal advantage.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo; Options: Hidden -->&nbsp;<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">Not take any action to coerce, manipulate, mislead, or fraudulently influence an independent accountant
or internal auditor engaged in the performance of an audit or review of the Company&rsquo;s financial statements or accounting
books and records, with the purpose of rendering the financial statements false or misleading.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">Promptly bring to the attention of the Audit Committee any information he or she may have concerning:</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: justify">significant deficiencies in the design or operation of internal controls which could adversely
affect the Company&rsquo;s ability to record, process, summarize, and report financial data;</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: justify">any fraud, whether or not material, involving management or other employees who have a significant
role in the Company&rsquo;s financial reporting, disclosures or internal controls;</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: justify">inaccurate disclosures made by the Company in its filings with the SEC or any other public communications;</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: justify">violations of the Company&rsquo;s Code of Business Conduct and Ethics or this Code; or</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: justify">evidence of a material violation of the any securities or other laws, rules, or regulations applicable
to the Company and the operation of its business, by the Company or any agent thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Audit Committee shall be responsible for
overseeing compliance with this Code and shall direct the investigation of any alleged violation and report its findings, including
any recommended action, to the Board of Directors. Upon receipt of a determination that there has been a violation of this Code,
the Board of Directors shall take such preventative or disciplinary action as it deems appropriate, including, but not limited
to, reprimand, probation, suspension, reduction in salary, reassignment, demotion, dismissal and, in the event of criminal conduct
or other serious violations of the law, notification of appropriate governmental authorities. In determining what action is appropriate
in a particular case, the Board of Directors shall take into account all relevant information, including, without limitation, the
Audit Committee&rsquo;s recommendation, if any, the nature and severity of the violation, whether the violation was a single occurrence
or repeated occurrences, whether the violation appears to have been intentional or inadvertent, whether the individual in question
was advised prior to the violation as to the proper course of action, and whether the individual in question previously committed
other violations.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Any amendments to or waivers of this Code requires
the approval of the Board of Directors. The Company will promptly disclose the nature of such amendment or waiver to the Company&rsquo;s
stockholders within four business days of such amendment or waiver in accordance with the rules of the SEC and NASDAQ.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">Approved by the Board of Directors on April
28, 2016.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-left: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>ex99-1.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 2, 2016
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left"><A HREF="lpth-8k_042816.htm">LightPath Technologies, Inc. 8-K</A><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: center"><B>Exhibit 99.1</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 6pt"><IMG SRC="ex99-1_img001.jpg" ALT="" STYLE="height: 165px; width: 433px"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 6pt"><B>For Immediate Release</B></P>

<P STYLE="font: 11pt Gill Sans MT, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 20pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>LightPath Technologies Announces Addition
of New Director to Board</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Craig Dunham, Experienced Photonics Executive,
Joins Board of Directors</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Gill Sans MT, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ORLANDO, FL &#8211; May 3, 2016 --LightPath
Technologies, Inc. (NASDAQ: LPTH) (&#8220;LightPath,&#8221; the &#8220;Company,&#8221; or &#8220;we&#8221;), a leading vertically
integrated global manufacturer, distributor and integrator of proprietary optical components and high-level assemblies, today
announced it has appointed Mr. Craig Dunham to its Board of Directors (the &#8220;Board&#8221;), effective April 28, 2016. An
experienced photonics executive, Mr. Dunham will also serve on LightPath&#8217;s audit committee. Mr. Dunham will fill a vacancy
created by the Board when it expanded its size from seven to eight directors. With the addition of Mr. Dunham, the Company&#8217;s
Board will have eight directors, seven of whom are independent as defined by the NASDAQ Listing Rules.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In his role as the former Chief Executive Officer
of Dynasil Corporation, Mr. Dunham led the company in growing its revenue from $2 million to $43 million over a 6-year period.
Mr. Dunham also has significant optical business experience. While at Dynasil Corporation and Corning Incorporated, Mr. Dunham
led or was a key member of the teams that completed eight successful photonics acquisitions, demonstrating his successful track
record in executing and integrating acquisitions.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Bob Ripp, Chairman of LightPath&#8217;s Board
of Directors, stated; &#8220;I am pleased that Mr. Dunham will join our Board. LightPath is strategically positioned to accelerate
sales growth and improve financial returns and cash flow generation. I am impressed with Mr. Dunham&#8217;s experience and knowledge
of the photonics market, and believe he will be very beneficial in discussions to implement actions to achieve enhanced results.&#8221;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Jim Gaynor, President and Chief Executive Officer
of LightPath, commented, &#8220;We are delighted to welcome Mr. Dunham to our Board. We will benefit from his experience in optics
and M&amp;A transactions. As LightPath&#8217;s CEO, I am fortunate to have direct access to people of his caliber and believe he
will strengthen an already strong Board.&#8221;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Mr. Dunham stated, &#8220;I am excited to join
LightPath&#8217;s Board. As I have worked with the Board and management over the last two years as a consultant to the Board, I
have come to appreciate the team and the potential of LightPath.&#8221;</P>

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


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">LightPath Technologies, Inc. (NASDAQ: LPTH)
provides optics and photonics solutions for the industrial, defense, telecommunications, testing and measurement, and medical
industries. LightPath designs, manufactures, and distributes optical and infrared components including molded glass aspheric lenses
and assemblies, infrared lenses and thermal imaging assemblies, fused fiber collimators, and gradient index GRADIUM&reg; lenses.
LightPath also offers custom optical assemblies, including full engineering design support. For more information, visit <U>www.lightpath.com</U>.</P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">President &amp; CEO&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: blue"><FONT STYLE="color: Black"><U>jgaynor@lightpath.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">407-382-4003 x377</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Investor Contact:</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><U>jdarrow@darrowir.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">631-367-1866</P>

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

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

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

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>5
<FILENAME>ex99-2.htm
<DESCRIPTION>COMPENSATION COMMITTEE CHARTER
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left"><A HREF="lpth-8k_042816.htm">LightPath Technologies, Inc. 8-K</A><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit 99.2</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The purpose of the Compensation Committee
(the &ldquo;Committee&rdquo;) of the Board of Directors (the &ldquo;Board&rdquo;) of LightPath Technologies, Inc. (the &ldquo;Company&rdquo;)
is to discharge the responsibilities of the Board relating to compensation of the Company&rsquo;s executives and directors, to
produce an annual report on executive compensation for inclusion in the Company&rsquo;s proxy statement, if and as required by
the rules of the Securities and Exchange Commission, and to oversee and advise the Board on the adoption of policies that govern
the Company&rsquo;s compensation programs, including stock and benefit plans.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee shall consist of at least three
directors, each of whom shall be: (a) an &ldquo;independent director&rdquo; in accordance with NASDAQ Rule 5605(a)(2); (b) a &ldquo;non-employee
director&rdquo; within the meaning of Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;);
and (c) an &ldquo;outside director&rdquo; within the meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended.
The Committee members shall be appointed by the Board based on recommendations from the Nominating and Corporate Governance Committee.
The Committee members shall be appointed for one-year terms and shall serve for such term or terms as the Board may determine
or until earlier removal, resignation, or death. The Board may remove any Committee member at any time with or without cause.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Nominating and Corporate Governance Committee
will recommend the members and Chairperson of the Committee, which shall them be approved by the Board. The Committee shall meet
at least two times a year at such times and places as it deems necessary to fulfill its responsibilities. Additional meetings
may occur as a majority of the Committee members or its Chairperson deems advisable. The Committee shall cause adequate minutes
of all its proceedings to be kept, and shall report regularly to the Board regarding its actions and make recommendations to the
Board as appropriate. The Committee is governed by the same rules regarding meetings (including meetings in person or by telephone
or other similar communications equipment), action without meetings, notice, waiver of notice, and quorum and voting requirements
as are applicable to the Board.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee may invite such members of management
to its meetings as it deems appropriate. However, the Committee shall meet regularly without such members present, and in all
cases the Chief Executive Officer and any other such officers shall not be present at meetings at which their compensation or
performance is discussed or determined.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee shall have the resources and
authority necessary to discharge its duties and responsibilities. The Committee shall have the authority to form and delegate
any of its responsibilities, along with the authority to take action in relation to such responsibilities, to one or more subcommittees
or to one or more designated members of the Committee, as the Committee may deem appropriate in its sole discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo; Options: Hidden -->&nbsp;<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee shall have the following authority
and responsibilities:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">To review the competitiveness
                                         of the Company&rsquo;s executive compensation programs to ensure: (a) the attraction
                                         and retention of corporate officers; (b) the motivation of corporate officers to achieve
                                         the Company&rsquo;s business objectives; and (c) the alignment of the interests of key
                                         leadership with the long-term interests of the Company&rsquo;s stockholders;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">To review trends in management
                                         compensation, oversee the development of new compensation plans, and, when necessary,
                                         approve the revision of existing plans;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">To review and approve annually
                                         the corporate goals and objectives applicable to the compensation of the chief executive
                                         officer (&ldquo;CEO&rdquo;), evaluate at least annually the CEO&rsquo;s performance in
                                         light of these corporate goals and objectives, and determine and approve the CEO&rsquo;s
                                         compensation based on this evaluation. In evaluating and determining CEO compensation,
                                         the Committee shall consider the results of the most recent stockholder advisory vote
                                         on executive compensation (&ldquo;Say on Pay Vote&rdquo;) required by Section 14A of
                                         the Exchange Act. The CEO cannot be present during deliberations or voting by the Committee
                                         on his or her compensation;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">To oversee an evaluation of the
                                         performance of the Company&rsquo;s other executive officers and approve the annual compensation,
                                         including salary, bonus, incentive, and equity compensation, for such executive officers;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">To review and make recommendations
                                         to the Board regarding the compensation of all other executive officers. In evaluating
                                         and making recommendations regarding executive compensation, the Committee shall consider
                                         the results of the most recent Say on Pay Vote;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">To review director compensation
                                         and benefits for service on the Board and its committees at least once a year and to
                                         recommend any changes to the Board as necessary;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">To review and make recommendations
                                         to the Board regarding any employment agreements and any severance arrangements or plans,
                                         including any benefits to be provided in connection with a change in control, for the
                                         CEO and other executive officers, which includes the ability to adopt, amend, and terminate
                                         such agreements, arrangements, or plans;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">To evaluate whether stock ownership
                                         guidelines for the CEO and other executive officers is advisable and in the best interests
                                         of the Company and its stockholders, and, if so, determine stock ownership guidelines
                                         for the CEO and other executive officers and monitor compliance with any such guidelines;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">To review, and make recommendations
                                         to the Board regarding, all employee benefit plans for the Company, which includes the
                                         ability to adopt, amend, and terminate such plans;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify">To review, and make recommendations
                                         to the Board for approval, compensation packages for new corporate officers and termination
                                         packages for corporate officers as requested by management;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">11.</TD><TD STYLE="text-align: justify">To review, and make recommendations
                                         to the Board, regarding incentive compensation plans and equity-based plans, and where
                                         appropriate or required, recommend for approval by the stockholders of the Company, which
                                         includes the ability to adopt, amend, and terminate such plans. The Committee shall also
                                         have the authority to administer the Company&rsquo;s incentive compensation plans and
                                         equity-based plans, including designation of the employees to whom the awards are to
                                         be granted, the amount of the award or equity to be granted and the terms and conditions
                                         applicable to each award or grant, subject to the provisions of each plan. In reviewing
                                         and making recommendations regarding incentive compensation plans and equity-based plans,
                                         including whether to adopt, amend, or terminate any such plans, the Committee shall consider
                                         the results of the most recent Say on Pay Vote;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">12.</TD><TD STYLE="text-align: justify">To review periodic reports from
                                         management on matters relating to the Company&rsquo;s personnel appointments and practices;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">13.</TD><TD STYLE="text-align: justify">To review and discuss with management
                                         the Company&rsquo;s Compensation Discussion and Analysis (&ldquo;CD&amp;A&rdquo;), if
                                         and as required by the rules of the Securities and Exchange Commission, and the related
                                         executive compensation information, recommend that the CD&amp;A and related executive
                                         compensation information be included in the Company&rsquo;s Annual Report on Form 10-K
                                         and proxy statement, and produce an annual report of the Committee on executive compensation
                                         for the Company&rsquo;s annual proxy statement, if and as required by the applicable
                                         Securities and Exchange Commission rules and regulations and relevant listing authority.
                                         The Committee shall not be required to fulfill these responsibilities if the Company
                                         is not required to include the CD&amp;A and Committee report in the Company&rsquo;s proxy
                                         statement or Annual Report on Form 10-K;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">14.</TD><TD STYLE="text-align: justify">To review the Company&rsquo;s
                                         incentive compensation arrangements to determine whether they encourage excessive risk-taking,
                                         to review and discuss at least annually the relationship between risk management policies
                                         and practices and compensation, and to evaluate compensation policies and practices that
                                         could mitigate any such risk;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">15.</TD><TD STYLE="text-align: justify">To review and recommend to the
                                         Board for approval the frequency with which the Company will conduct Say on Pay Votes,
                                         taking into account the results of the most recent stockholder advisory vote on the frequency
                                         of Say on Pay Votes required by Section 14A of the Exchange Act, and review and approve
                                         the proposals regarding the Say on Pay Vote and the frequency of the Say on Pay Vote
                                         to be included in the Company&rsquo;s proxy statement;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">16.</TD><TD STYLE="text-align: justify">To oversee, in conjunction with
                                         the Board, engagement with stockholders and proxy advisory firms on executive compensation
                                         matters;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">17.</TD><TD STYLE="text-align: justify">To review this Charter at least
                                         annually and recommend any proposed changes to the Board for approval; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">18.</TD><TD STYLE="text-align: justify">To evaluate whether any compensation
                                         consultant retained or to be retained by the Committee has any conflict of interest in
                                         accordance with Item 407(e)(3)(iv) of Regulation S-K.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Adopted by the Board of Directors on April 28, 2016.</I></P>

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

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

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.3
<SEQUENCE>6
<FILENAME>ex99-3.htm
<DESCRIPTION>NOMINATING AND CORPORATE GOVERNANCE COMMITTEE CHARTER
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left"><A HREF="lpth-8k_042816.htm">LightPath Technologies, Inc. 8-K</A><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit 99.3</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOMINATING AND CORPORATE GOVERNANCE COMMITTEE
CHARTER</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The purpose of the Nominating and Corporate
Governance Committee (the &ldquo;Committee&rdquo;) of the Board of Directors (the &ldquo;Board&rdquo;) of LightPath Technologies,
Inc. (the &ldquo;Company&rdquo;), is to carry out the responsibilities delegated by the Board relating to the Company&rsquo;s director
nominations process and procedures, developing, maintaining, and monitoring compliance with the Company&rsquo;s corporate governance
policies, guidelines and activities.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The membership of the Committee shall consist
of at least three directors, each of whom shall meet the independence requirements established by the Board, if any, and applicable
laws, rules, and regulations of the Securities and Exchange Commission and NASDAQ.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee members shall be appointed by
the Board based on recommendations from this Committee. The Committee members shall be appointed for one-year terms and shall serve
for such term or terms as the Board may determine or until earlier removal, resignation, or death. The Board may remove any Committee
member at any time with or without cause.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee Chairperson shall be the independent
Chairman of the Board, otherwise it will be the Lead Independent Director. The Committee shall meet at least twice a year at such
times and places as it deems necessary to fulfill its responsibilities. Additional meetings may occur as a majority of the Committee
members or its Chairperson deems advisable. The Committee shall cause to be kept adequate minutes of all its proceedings, and shall
regularly report to the Board regarding its actions and activities and make recommendations to the Board as appropriate. The Committee
is governed by the same rules regarding meetings (including meetings by conference telephone or similar communications equipment),
action without meetings, notice, waiver of notice, and quorum and voting requirements as are applicable to the Board.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee shall have the authority, in
its sole discretion, to select, retain, and obtain the advice of professionals, including outside counsel, other advisors, and
director search firms, as the Committee deems necessary to assist with the execution of its duties and responsibilities as set
forth in this Charter. The Committee shall set the compensation and oversee the work of such professionals. The Committee shall
receive appropriate funding from the Company, as determined by the Committee in its capacity as a committee of the Board, for the
payment of compensation to its professionals, including its search consultants, outside counsel, and any other advisors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee may form and delegate any of
its responsibilities, along with the authority to take action in relation to such responsibilities, to one or more subcommittees
or one or more designated Committee members, as the Committee deems appropriate in its sole discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo; Options: Hidden -->&nbsp;<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee shall have the following authority
and responsibilities:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">To determine the qualifications, qualities, skills, and other expertise required to be a director
and to develop, and recommend to the Board for its approval, criteria to be considered in selecting nominees for director (the
&ldquo;Director Criteria&rdquo;).</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">To identify, recruit, and screen candidates for the Board, consistent with criteria approved by
the Board. The Committee shall consider any director candidates recommended by the Company&rsquo;s stockholders pursuant to the
procedures described in the Company&rsquo;s proxy statement. The Committee shall also consider any nominations of director candidates
validly made by stockholders in accordance with applicable laws, rules, and regulations, and the provisions of the Company&rsquo;s
charter documents;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">To make annual recommendations to the Board regarding the selection and approval of the nominees
for director to be submitted to a stockholder vote at the annual meeting of stockholders, subject to approval by the Board;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">To review the Board&rsquo;s committee structure and composition and to make annual recommendations
to the Board regarding the appointment of directors to serve as members of each committee of the Board (including this Committee);</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">To oversee the Company&rsquo;s corporate governance practices and procedures, including identifying
best practices [and monitor compliance with such practices and procedures];</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">To review and recommend to the Board for approval any changes to (i) the documents, policies, and
procedures in the Company&rsquo;s corporate governance framework, including the Company&rsquo;s Certificate of Incorporation, Bylaws,
and (ii) the charters of other Board committees after consultation with the respective committee chairpersons;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">7.</TD><TD STYLE="text-align: justify">To develop, subject to approval by the Board, a process for an annual evaluation of the Board and
its committees and to oversee the conduct of this annual evaluation in order to facilitate the directors&rsquo; fulfillment of
their responsibilities in a manner that serves the interests of the Company&rsquo;s stockholders;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">8.</TD><TD STYLE="text-align: justify">To annually review the Board&rsquo;s committee structure and composition and to make recommendations
to the Board regarding the appointment of directors to serve as members of each committee and committee chairperson as needed;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">9.</TD><TD STYLE="text-align: justify">If a vacancy on the Board and/or any Board committee occurs, to identify and make recommendations
to the Board regarding the selection and approval of candidates to fill such vacancy either by stockholder election or appointment
by the Board;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">10.</TD><TD STYLE="text-align: justify">To oversee a Company developed orientation program for new directors and a continuing education
program for current directors, periodically review these programs, and update them as necessary;</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">11.</TD><TD STYLE="text-align: justify">To develop and recommend to the Board for approval standards for determining whether a director
has a relationship with the Company that would impair its independence;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">12.</TD><TD STYLE="text-align: justify">To review and discuss with management disclosure of the Company&rsquo;s corporate governance practices,
including information regarding the operations of the Committee and other Board committees, director independence, and the director
nomination process, and to recommend that this disclosure be, included in the Company&rsquo;s proxy statement or Annual Report
on Form 10-K, as applicable; and</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">13.</TD><TD STYLE="text-align: justify">To review and assess the adequacy of this Charter at least annually and recommend any proposed
changes to the full Board for approval.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>Adopted by the Board of Directors on April 28, 2016.</I></P>

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

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>7
<FILENAME>ex99-4.htm
<DESCRIPTION>FINANCE COMMITTEE CHARTER
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; text-align: left"><A HREF="lpth-8k_042816.htm">LightPath Technologies, Inc. 8-K</A><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit 99.4</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The purpose of the Finance Committee (the &ldquo;Committee&rdquo;)
of the Board of Directors (the &ldquo;Board&rdquo;) of LightPath Technologies, Inc. (the &ldquo;Company&rdquo;), is to carry out
the responsibilities delegated by the Board relating to oversight of the Company&rsquo;s financial management, including oversight
of the Company&rsquo;s strategic and transactional planning and activities, global financing and capital structure objectives and
plans, insurance program, tax structure, and investment program and policies.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The membership of the Committee shall consist
of at least three directors, each of whom shall meet the independence requirements established by the Board, if any, and applicable
laws, rules, and regulations of the Securities and Exchange Commission and NASDAQ.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee members shall be appointed for
one-year terms and shall serve for such term or terms as the Board may determine or until earlier removal, resignation, or death.
The Board may remove any Committee member at any time with or without cause.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Nominating and Corporate Governance Committee
will recommend the members and Chairperson of the Committee, which shall them be approved by the Board. The Chairperson of the
Committee, in consultation with the Committee members, shall determine the schedule and frequency of the Committee meetings. The
Committee shall cause to be kept adequate minutes of all its proceedings, and shall regularly report to the Board regarding its
actions and activities and make recommendations to the Board as appropriate. The Committee is governed by the same rules regarding
meetings (including meetings by conference telephone or similar communications equipment), action without meetings, notice, waiver
of notice, and quorum and voting requirements as are applicable to the Board.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee shall have the authority, in
its sole discretion, to select, retain, and obtain the advice of professionals, including outside counsel, other advisors, and
director search firms, as the Committee deems necessary to assist with the execution of its duties and responsibilities as set
forth in this Charter. The Committee shall set the compensation and oversee the work of such professionals. The Committee shall
receive appropriate funding from the Company, as determined by the Committee in its capacity as a committee of the Board, for the
payment of compensation to its professionals, outside counsel, and any other advisors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee may form and delegate any of
its responsibilities, along with the authority to take action in relation to such responsibilities, to one or more subcommittees
or one or more designated Committee members, as the Committee deems appropriate in its sole discretion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo; Options: Hidden -->&nbsp;<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>DUTIES AND RESPONSIBILITIES</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Committee shall have the following authority
and responsibilities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; text-indent: -22.5pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">1.</TD><TD STYLE="text-align: justify">To review and approve management&rsquo;s recommendations to the Board with respect to significant
capital expenditures;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">2.</TD><TD STYLE="text-align: justify">To review, approve, and monitor mergers, acquisitions, divestitures, joint ventures, minority investments,
and other debt and equity investments, including overseeing the due diligence process;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">3.</TD><TD STYLE="text-align: justify">To conduct a review of completed transactions for purposes of assessing the degree of success achieved;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">4.</TD><TD STYLE="text-align: justify">To review and oversee management&rsquo;s plans and objectives for the capitalization of the Company,
including the structure and amount of debt and equity to meet the Company&rsquo;s financing needs;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">5.</TD><TD STYLE="text-align: justify">To review and approve management&rsquo;s recommendations to the Board with respect to new offerings
of debt and equity securities, stock splits, credit agreements (including material changes thereto), and the Company&rsquo;s investment
policies;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">6.</TD><TD STYLE="text-align: justify">To review and approve management&rsquo;s recommendations to the Board regarding dividends or stock
splits;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">7.</TD><TD STYLE="text-align: justify">To review and approve management&rsquo;s recommendations to the Board regarding authorizations
for repurchases of the Company&rsquo;s common stock;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">8.</TD><TD>To review and approve management&rsquo;s recommendations for the investment of excess cash, if any;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">9.</TD><TD STYLE="text-align: justify">To review management&rsquo;s decisions regarding certain financial aspects of the Company&rsquo;s
employee benefit plans;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">10.</TD><TD>To review and oversee the Company&rsquo;s tax strategies;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">11.</TD><TD STYLE="text-align: justify">To review with management the Company&rsquo;s strategies for management of significant financial
risks and contingent liabilities;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">12.</TD><TD STYLE="text-align: justify">To review the annual business plans from the perspective of cash flow, capital spending, and financing
requirements;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; text-align: justify; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">13.</TD><TD>To review, and recommend to the Board for approval, authorization limits for the Committee and the Chief Executive Officer
to approve expenditures; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 22.5pt; background-color: white">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 22.5pt">14.</TD><TD>To review this Charter on an annual basis and recommend any changes to the Board for approval.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><I>Adopted by the Board of Directors on
April 28, 2016</I></P>

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

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

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%; font: 10pt Times New Roman, Times, Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
<FILENAME>ex99-1_img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 ex99-1_img001.jpg
M_]C_X  02D9)1@ ! 0$ > !X  #_VP!#  H'!PD'!@H)" D+"PH,#QD0#PX.
M#QX6%Q(9)" F)2,@(R(H+3DP*"HV*R(C,D0R-CL]0$! )C!&2T4^2CD_0#W_
MVP!# 0L+"P\-#QT0$!T]*2,I/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3T]
M/3T]/3T]/3T]/3T]/3T]/3T]/3T]/3W_P  1" "E ;$# 2(  A$! Q$!_\0
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M@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH **** "BBB@ HHHH ****
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MX>\3V'B9+J33?,:*WD\LNZ[0YQG(]JV: 336@454U#5;+28/.U"ZAMX_[TC
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M&S^C_P#H)JH[,YJW\6)['113)IHX(7EE=4C099F. !4'8>5?$JTCM_$J2Q@
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MY:YDN8L;HXH&;DC(YZ4";2W/'/'_ /R.^L?]=O\ V45[_I#!M&L6'0V\9_\
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M/TKD/AUXAB\*ZS<2ZC!<BWGAV%DB)VD'(./2FMC*<E[5,]XKS/XU?\@O2_\
MKN__ *#7?VFK6E[I"ZG!(6M&C,@<J0=HZ\=>U>1?$GQ9:>*4L;?28KF2.!F=
MI&B9021@ #K2CN76:Y&=A\(/^1*/_7U)_2NZKR/X=>-=/\.Z))I^K+<PGSC(
MD@A9E(('7'3I7K4<BRQK(ARK ,#[&A[E4FG%'SW(0/B62>!_:O\ [4KZ&KY\
M\=:5=:#XQNY61DCEF-Q;RXX;)SU]0:[W3?C#ILUE&MW97GV[ !C@0.';V.>]
M-ZF-*2@VI'5^-/\ D4-2_P"N7]17F_@+_D<;/Z/_ .@FNYUB[O=2^'M[<7MB
MUG/+&2+?=N95W#&??':N(\!PRKXOLRT4BC#\E2!]TTULR:VM6+/8:6DI:@["
MMJ%V+#3[BZ89$,;.1ZX&:\L\.1OXQ\7"36',R*AE,9/RX'10.PYKU:[MDO+2
M:WD^Y*A1OH1BO'H1?^!?$BR30EA&2N3PLR'T-5$YJ]U*+>Q['%$D,:QQ(J(H
MP%48 _"N!^*OW-,_WI/Y"M2+XCZ5<(!;P7LMPPXA2+))],]*Y[Q=I>O:I9IJ
MMY"556VK9Q_,84/\1]2>]"6NH5IJ5-J.IU/P_P#^1/M/]Y__ $(UQ?Q,_P"1
MF'_7NO\ ,UT/@+78H],M=):UN_M =LL(CL ))R3VJC\3M'F>XM]3BC9X@GE2
MD#.WG()]N::^(F?O458[C0SG0=/_ .O>/_T$4:Y_R K_ /Z]W_\ 037(^%?'
M>FP:+!::E*T,]NNP':6#@=,8[UT]]=IJ/A>ZN8 ^R6V<H&4ACP>U3;4VC-2A
MIV/.OAI_R-/_ &[M_2O6J\H^&T4B>)\O&ZC[.W+*1Z5ZO3EN1AO@*6M?\@._
M_P"O>3_T$UYG\,_^1H/_ %[-_,5Z;K()T2^ &2;>3@?[IKS3X:Q2)XGR\;J/
ML[<LI'<4+9BJ_P 6)ZQ1114G2%%%% !1110 4444 %%%% !1110 4444 %%%
M% !1110 4PQH6R44GU(I]% #0BCHH_*C:/0?E3J* &>6G]Q?RH,2'JB_E3Z*
M &A0H   'H*01H.B*/PI]% ##&AZHI_"DFEC@A>25U2- 69F. H'<T^O._C)
M<W4/AZSBA=UMYIRLVWO@94'VS_*A$SERQ;,D>'M-^(GBBXN-+MUL=*M3MFN8
MEPUS(?0=!]<=ZZ-/A'X:50&2[<^K3G^E4/@WJ=L^A7.G!E6ZBF,I7NRL!R/R
MQ7HU-MF=.$9+F://M1^#NBSP-]@GNK6;'REGWKGW!Y_6N#\)?;O#'Q'MK*0[
M)1<?99U4\.IX_$="*]YGGBMH'FGD6.)!N9V. H]2:\L\,6/_  EWQ*O/$4<;
M#3;:7,;D8\Q@-JX_G^5-,F=-*2Y=SU7RTR?D7/TH,:'JJ_E2E@HR>!2+*KG"
MGFHN=%A0H"X  'IBD$:#HBC\*?4<LJ0KND8 4[A:XIB0]44_A3A44-U%.2(W
MR1VJ6DFGL#5B*YM+>\B\NZ@BFC_NR(&'ZU7M-&TVP??:6%K"_P#>CB4'\ZL3
MW$5LFZ9PHI+:\ANL^2X;'4=Z.97M<.72]B;%)M ["EJ"ZO8+) ]Q($!Z>IH;
M25V-)MV18HJM:7]O?*6MY ^.HZ$?A5BA--70--.S%J*:WAN$V3Q)(OHZ@BH+
MW4[73]OVF4(6Z+C)/X5):7L%]%YEM('7OCM]:2G&_+?4'!VNUH%O96UK_P >
M]O#%_N(%_E4]%4-0UNQTME6[G".W(4#)Q]!1*:BKR=@C%R=HHO@ =!2,H8$,
M 0>H-0VE[!?P":UE62,]Q2WDTL%LTEO;M<2#&(U8*3^)XIIIJZ$U;1D::991
MR>9'9VZO_>$0!JUBL33_ !&][I]S>R:=/!;P)(VYG4[BA(8  ^QJ?2]5NM1V
M/)IDUM#)&)%D>5&SGH, Y[U1*:Z&H !V%+6(WB"6>27^R],N+Z&)BCS*ZHI8
M=0NX_-C\JMG5D6?3XFAE1[X-M#C!3:NXAAZTAW1?HP!T JH=00:PFG[&\QH#
M/N[8# 8_6H-&UVSUR*9K5SO@D:*6-N&0@D=/0XX- 71IT5G0ZS;R6][/(?)A
MLI7BE9SQ\N,GZ<U2/B.=(?M<FC7JV&-QF)7>%_O&/.['?U]J YD;U%4)]6@B
M-AMS*E]($B=#QRI8'Z8%,U'5TL9HK:*"6ZO)@62"+&=HZL2>%'N: NC2HK*L
MM;,U\+*^M);*[=2\:2,&60#KM8<$CN.M-N=<87TEGIUE-?3PX\[8RHD9/(!8
M\9QV% 71KT5EV^MI-I]W<26UQ!)9AC-#*N&! SP>A!'0@U%=:^8H].-O92W,
MM^A>.-652 %#'))QT- 71LT5E7.LM9:6MU=V<T<SR")+8,K,SL<*,@XYJSIU
MY->1O]ILI;26-MI20A@?<$<$4!=%RBBB@84444 %%%% !1110 4444 %%%%
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M",$ CWI%4*,* !["LW0O4Y[FBK-0Y+"UR_BF&7[5%+@F+;M![ UU--90P(8
M@]B*NM2]K#EN12J>SES'*^&(96OVE4$1*A#'L?05U=(JJ@PH  [ 4ZE0I>RA
MRW'6J>TES'$^*894U9I7!\MU&QNWTJ[X/@E#7$Q!$+ *,]S73O&L@PZAAZ$9
MI54*    .PK&.$2K>UN:O$MTO9V"O-O%EO/#KT\DP;9(0T;'H1CI7I5,DC24
M8D16'HPS5XK#^WARWL3AJ_L)\UKG*^!+>>.WN975EAD(V ]R.I%=90
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M0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%%
M!1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %
M%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 44
M44 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !111
D0 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% '__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
