<SEC-DOCUMENT>0001654954-18-011878.txt : 20181102
<SEC-HEADER>0001654954-18-011878.hdr.sgml : 20181102
<ACCEPTANCE-DATETIME>20181101173330
ACCESSION NUMBER:		0001654954-18-011878
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20181030
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181102
DATE AS OF CHANGE:		20181101

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:		181154935

	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.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">UNITED
STATES</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">SECURITIES AND
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">Washington, D.C.
20549</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;<font style="font-weight: bold;">FORM 8-K</font></font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">CURRENT
REPORT</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">PURSUANT TO
SECTION 13 OR 15(d) OF THE</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">SECURITIES
EXCHANGE ACT OF 1934</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">October 30,
2018</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">Date of Report
(Date of earliest event reported)</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">LIGHTPATH
TECHNOLOGIES, INC.</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">(Exact name of
registrant as specified in its charter)</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">000-27548</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">86-0708398</font></font></div>
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jurisdiction of</font></font><font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">incorporation or
organization)</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">(Commission File
Number)</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">2603 Challenger
Tech Court, Suite 100</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">Orlando, Florida
32826</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">(407)
382-4003</font></font></div>
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<font style="font-size: 13px"><font style="font-weight: bold; font-family: Times New Roman;">(Registrant&#x2019;s
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">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
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">[ ] Written communications pursuant
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">[ ] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">Indicate by check mark whether the
registrant is an emerging growth company as defined in Rule 405 of
the Securities Act of 1933 (17 CFR &#xA7;230.405) or Rule 12b-2 of
the Securities Exchange Act of 1934 (17 CFR &#xA7;240.12b-2 of this
chapter).</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">Emerging growth company [
]</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">If an emerging growth company,
indicate by check mark if the registrant has elected not to use the
extended transition period for complying with any new or revised
financial accounting standards providing pursuant to Section 13(a)
of the Exchange Act. [ ]</font></font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">LightPath Technologies,
Inc.</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">Form 8-K</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Item 1.01.&#xA0;&#xA0;&#xA0;&#xA0;Entry into a Material Definitive
Agreement.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="color: rgb(0, 0, 0); font-family: Times New Roman;">On October 30,
2018, LightPath Technologies, Inc. (the &#x201C;Company&#x201D;)
entered into the Fifth Amendment to Second Amended and Restated
Loan and Security Agreement (the &#x201C;Amendment&#x201D;) relating
to its previously disclosed acquisition term loan (the &#x201C;Term
Loan&#x201D;) and working capital revolving line of credit (the
&#x201C;Revolving Line&#x201D;) pursuant to that certain Second
Amended and Restated Loan and Security Agreement, dated December
21, 2016 (the &#x201C;LSA&#x201D;), with Avidbank Corporate Finance,
a division of Avidbank (the &#x201C;Lender&#x201D;). The descriptions
of the (i) LSA, Term Loan, and Revolving Line set forth under Items
1.01, 2.01, and 2.03 in the Company&#x2019;s Current Report on Form
8-K dated December 21, 2016, (ii) First Amendment to Second Amended
and Restated Loan and Security Agreement set forth under Items 1.01
and 2.03 in the Company&#x2019;s Current Report on Form 8-K dated
December 20, 2017, (iii) Second Amendment to Second Amended and
Restated Loan and Security Agreement set forth under Items 1.01 and
2.03 in the Company&#x2019;s Current Report on Form 8-K dated
January 16, 2018, (iv) Third Amendment to Second Amended and
Restated Loan and Security Agreement set forth under Item 5 in the
Company&#x2019;s Quarterly Report on Form 10-Q filed with the
Securities and Exchange Commission (the &#x201C;SEC&#x201D;) on May
14, 2018, and (v) Fourth Amendment to Second Amended and Restated
Loan and Security Agreement set forth under Item 9B in the
Company&#x2019;s Annual Report on Form 10-K filed with the SEC on
September 13, 2018 are incorporated by reference
herein.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="color: rgb(0, 0, 0); font-family: Times New Roman;">The Amendment
extends the maturity date of the Revolving Line from December 21,
2018 to March 21, 2019. In connection therewith, the Amendment also
amends (i) the definition of &#x201C;Adjusted EBITDA&#x201D; and (ii)
adds a new paragraph at the end of Section 6.9(a) of the LSA to
allow the Company to include in the calculation of Adjusted EBITDA,
for purposes of determining the fixed charge coverage ratio and
compliance with the fixed charge ratio covenant, the addback of the
following one-time expenses: (1) implementation and integration to
ERP systems, (2) consulting expenses with Mark Lifshotz and Joseph
Menaker, (3) manufacturing overlap due to deficiencies with New
York site, (4) relocation, severance, and retention expense for New
York staff, (5) closure of New York site, (6) equipment relocation
costs, and (7) new facility readiness.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="color: rgb(0, 0, 0); font-family: Times New Roman;">The foregoing
descriptions of the Amendment are summaries only, and are qualified
in their entirety by reference to the complete text of the
Amendment filed herewith as Exhibit 10.1.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;&#xA0;</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Item 2.03&#xA0;&#xA0;&#xA0;&#xA0;Creation of a Direct Financial
Obligation or an Obligation Under an Off-Balance Sheet Arrangement
of Registrant.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="color: rgb(0, 0, 0); font-family: Times New Roman;">The
information set forth under Item 1.01 above is incorporated by
reference into this Item 2.03.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Item 9.01&#xA0;&#xA0;&#xA0;&#xA0;Financial Statements and
Exhibits</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">(d)</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; width: 100%; font-family: Times New Roman; font-size: 13px; margin: 0px auto 0px 0px;">
<tr>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Exhibit&#xA0;No.</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 87%; border-bottom: 2px solid rgb(0, 0, 0);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-weight: bold; color: rgb(0, 0, 0); font-family: Times New Roman;">
Description</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 12%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="lpth_ex101.htm"><font style="font-size: 13px"><font style="color: rgb(0, 0, 0); font-family: Times New Roman;">10.1</font></font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 87%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="color: rgb(0, 0, 0); font-family: Times New Roman;">Fifth
Amendment to Second Amended and Restated Loan and Security
Agreement, dated October 30, 2018</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 12%;">
<div><font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div><font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 87%;">
<div><font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 12%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><a href="lpth_ex102.htm"><font style="font-size: 13px"><font style="color: rgb(0, 0, 0); font-family: Times New Roman;">10.2</font></font></a></div>
</td>
<td style="vertical-align: top; width: 1%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;&#xA0;</font></font></div>
</td>
<td style="vertical-align: top; width: 87%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="color: rgb(0, 0, 0); font-family: Times New Roman;">Affirmation of
Guarantee of Geltech, Inc. dated October 30,
2018</font></font></div>
</td>
</tr></table>
</div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">SIGNATURES</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">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.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">&#xA0;</font></font></div>
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<tr>
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td colspan="2" rowspan="1" style="vertical-align: bottom; width: 38%;">
<div><font style="font-size: 13px"><font style="font-family: Times New Roman;">LIGHTPATH TECHNOLOGIES,
INC.</font></font></div>
</td>
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
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</td>
<td style="width: 3%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 35%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="width: 12%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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<td style="vertical-align: top; width: 50%; border-bottom: medium solid rgb(255, 255, 255);">
<font style="font-size: 13px"><font style="font-family: Times New Roman;">Dated: November 1,
2018</font></font></td>
<td style="vertical-align: top; width: 3%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">By:&#xA0;&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 35%; border-bottom: 2px solid black; white-space: nowrap;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman">/s/ <font style="font-size: 13px"><font style="font-family: Times New Roman;">Donald O. Retreage,
Jr.</font></font> &#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 12%; border-bottom: medium solid rgb(255, 255, 255);">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
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<td style="width: 50%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
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<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 35%; white-space: nowrap;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-size: 13px; font-family: Times New Roman"><font style="font-size: 13px"><font style="font-style: italic; font-family: Times New Roman;">Donald O.
Retreage, Jr., CFO</font></font></font></div>
</td>
<td style="width: 12%; vertical-align: top;">
<div style="margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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<font style="font-size: 13px; font-family: Times New Roman">&#xA0;</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>lpth_ex101.htm
<DESCRIPTION>AMENDMENT TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
<TEXT>
<html>
<head>
<!-- Document created using Blueprint(R) - powered by Issuer Direct - www.issuerdirect.com -->
<!-- Copyright 2018 Issuer Direct Corporation -->
<title>Blueprint</title>
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<body style="font-family: Times New Roman; font-size: 13px;">
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<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Exhibit 10.1</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
FIFTH AMENDMENT</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
TO</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
SECOND AMENDED AND RESTATED LOAN AND SECURITY
AGREEMENT</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">This
Fifth Amendment to Second Amended and Restated Loan and Security
Agreement is entered into as of October 30, 2018 (the
&#x201C;Amendment&#x201D;), by and between AVIDBANK
(&#x201C;Bank&#x201D;), LIGHTPATH TECHNOLOGIES, INC.
(&#x201C;Parent&#x201D;) and ISP OPTICS CORPORATION
(&#x201C;ISP&#x201D;). Parent and ISP are each also referred to as a
&#x201C;Borrower&#x201D; and together as the
&#x201C;Borrowers&#x201D;.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; font-family: Times New Roman; font-size: 13px">
RECITALS</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Borrowers and Bank
are parties to that certain Second Amended and Restated Loan and
Security Agreement dated as of December 21, 2016 and as amended
from time to time, including pursuant to that certain First
Amendment to Second Amended and Restated Loan and Security
Agreement dated as of December 20, 2017, that certain Second
Amendment to Second Amended and Restated Loan and Security
Agreement dated as of January 16, 2018, that certain Third
Amendment to Second Amended and Restated Loan and Security
Agreement dated as of May 11, 2018 and that certain Fourth
Amendment to Second Amended and Restated Loan and Security
Agreement dated as of September 7, 2018 (collectively, the
&#x201C;Agreement&#x201D;). The parties desire to amend the Agreement
in accordance with the terms of this Amendment.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">NOW,
THEREFORE, the parties agree as follows:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">1.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
following definitions in Section 1.1 of the Agreement are amended
and restated in their entirety to read as follows:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 96px; margin-right: 36px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;Adjusted
EBITDA&#x201D; means Borrowers&#x2019; consolidated earnings before
interest, taxes, depreciation and amortization expenses, plus (i)
stock-based compensation expenses, (ii) non-cash expenses (income)
related to change of fair value of warrant liabilities or
Subordinated Debt owing under the Seller Note, (iii) foreign
currency translation loss, (iv) one-time transaction expenses in
connection with acquisition of Target (not to exceed $50,000 for
the trailing twelve month period ending in December 31, 2017); and
(v) such other one-time expenses as may be consented to in writing
by Bank on a case by case basis.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;Revolving
Maturity Date&#x201D; means March 21, 2019.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">2</font>.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
following is added to the end of Section 6.9(a) of the
Agreement:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 96px; margin-right: 36px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition to the foregoing, solely for purposes of calculating
Borrowers&#x2019; Adjusted EBITDA for use in determining the Fixed
Charge Coverage Ratio and Borrower&#x2019;s compliance with this
Section 6.9(a), Borrowers may elect to include in Adjusted EBITDA
the addback of one-time expenses with respect to (i) implementation
and integration to ERP systems, (ii) consulting expenses with Mark
Lifshotz and Joseph Menaker, (iii) manufacturing overlap due to
deficiencies with New York site, (iv) relocation, severance, and
retention expense for New York staff, (v) closure of New York site,
(vi) Equipment relocation costs, and (vi) new facility readiness
(collectively, the &#x201C;One-Time Addback Amounts&#x201D;), in an
aggregate amount not to exceed the amounts set forth below for the
fiscal quarters set forth below:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="margin-right:0px;width:100%;font-size:inherit;font-family:inherit;margin-left:0px;">
<tr>
<td rowspan="1" style="vertical-align:bottom;width:88%;">
<div style="text-align: center; text-indent: 0px; margin-right: 0px; margin-left: 0px; border-bottom: 2px solid rgb(0, 0, 0);"><font style="font-weight: bold; font-size: 11px;"><font style="font-family: Times New Roman; font-weight: bold;">Fiscal Quarter
Ending</font></font></div>
</td>
<td rowspan="1" style="vertical-align:bottom;width:12%;">
<div><font style="font-weight: bold; font-size: 11px;"><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font><font style="text-align: center; vertical-align: bottom; width: 80%; border-bottom: 2px solid rgb(0, 0, 0); display: inline-block; font-weight: bold;">
<div><font style="font-family: Times New Roman; font-weight: bold;">One-Time Addback
Amount</font></div>
</font><font style="text-align: left; padding-bottom: 2px; width: 10%; vertical-align: bottom; display: inline-block; font-weight: bold;">&#xA0;</font></font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: center; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">12/31/17</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">$</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Times New Roman;display:inline-block;">82,240</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: center; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">3/31/18</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">$</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Times New Roman;display:inline-block;">49,005</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: center; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">6/30/18</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">$</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Times New Roman;display:inline-block;">190,463</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: center; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">9/30/18</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">$</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Times New Roman;display:inline-block;">91,054</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: center; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">12/31/18</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">$</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Times New Roman;display:inline-block;">288,450</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#ffffff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: center; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">3/31/19</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">$</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Times New Roman;display:inline-block;">292,500</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr><tr style="background-color:#cceeff;">
<td style="vertical-align:bottom;width:88%;">
<div style="text-align: center; text-indent:0px;margin-right:0px;margin-left:0px;"><font style="font-family: Times New Roman; font-size: 13px">6/30/19</font></div>
</td>
<td style="vertical-align:bottom;width:12%;">
<div><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font><font style="text-align: left; vertical-align:bottom;width:5%;font-size:13px;font-family:Times New Roman;display:inline-block;">$</font><font style="text-align: right; vertical-align:bottom;width:75%;font-size:13px;font-family:Times New Roman;display:inline-block;">181,701</font><font style="text-align: left; vertical-align:bottom;width:10%;font-size:13px;font-family:Times New Roman;display:inline-block;">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">1</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">3</font>.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Unless
otherwise defined, all initially capitalized terms in this
Amendment shall be as defined in the Agreement. The Agreement, as
amended hereby, shall be and remain in full force and effect in
accordance with its respective terms and hereby is ratified and
confirmed in all respects. Except as expressly set forth herein,
the execution, delivery, and performance of this Amendment shall
not operate as a waiver of, or as an amendment of, any right,
power, or remedy of Bank under the Agreement, as in effect prior to
the date hereof. Each Borrower ratifies and reaffirms the
continuing effectiveness of all agreements entered into in
connection with the Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">4.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Borrowers
represent and warrant that the representations and warranties
contained in the Agreement are true and correct as of the date of
this Amendment, and that no Event of Default has occurred and is
continuing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">5.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;This
Amendment may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall
constitute one instrument. In the event that any signature is
delivered by facsimile transmission or by e-mail delivery of a
&#x201C;.pdf&#x201D; format data file, such signature shall create a
valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect
as if such facsimile or &#x201C;.pdf&#x201D; signature page were an
original hereof. Notwithstanding the foregoing, Borrowers shall
deliver all original signed documents no later than ten (10)
Business Days following the date of execution.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">6.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;As
a condition to the effectiveness of this Amendment, Bank shall have
received, in form and substance satisfactory to Bank, the
following:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;this
Amendment, duly executed by Borrowers;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;affirmation
of guaranty;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;payment
of a pro-rated facility fee in the amount of $937.50 plus an
amendment fee in the amount of $500 plus all Bank Expenses incurred
through the date of this Amendment; and</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;such
other documents, and completion of such other matters, as Bank may
reasonably deem necessary or appropriate.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
[signature page follows]</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><br></font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, the undersigned have executed this Amendment as of
the first date above written.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">BORROWERS:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">LIGHTPATH
TECHNOLOGIES, INC.</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<div style="display: table-row">
<div style="display: table-cell; width: 192px"><font style="font-family: Times New Roman; font-size: 13px"><a name="_Hlk528851524"><!--anchor--></a>By:
<font style="text-decoration: underline">/s/ J. James
Gaynor</font></font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 288px">
<div style="display: table-row">
<div style="display: table-cell; width: 324px"><font style="font-family: Times New Roman; font-size: 13px">Name: <font style="text-decoration: underline">J. James Gaynor</font></font></div>
</div>
</div>
<div style="display: table; margin-left: 288px">
<div style="display: table-row">
<div style="display: table-cell; width: 324px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="display: table; margin-left: 288px">
<div style="display: table-row">
<div style="display: table-cell; width: 324px"><font style="font-family: Times New Roman; font-size: 13px">Title: <font style="text-decoration: underline">President &amp; Chief Executive
Officer</font></font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row"><br></div>
</div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">ISP
OPTICS CORPORATION</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="display: table; margin-left: 288px;">
<div style="display: table-row">
<div style="display: table-cell; width: 192px"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline">/s/ J. James
Gaynor</font></font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 288px">
<div style="display: table-row">
<div style="display: table-cell; width: 324px"><font style="font-family: Times New Roman; font-size: 13px">Name: <font style="text-decoration: underline">J. James
Gaynor</font><br></font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table; margin-left: 288px;">
<div style="display: table-row">
<div style="display: table-cell; width: 336px"><font style="font-family: Times New Roman; font-size: 13px">Title: <font style="text-decoration: underline">President &amp; Chief Executive
Officer</font></font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">BANK:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AVIDBANK</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 288px;">
<div style="display: table-row">
<div style="display: table-cell; width: 192px"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline">/s/ Jon
Krogstad</font><br></font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 288px">
<div style="display: table-row">
<div style="display: table-cell; width: 324px"><font style="font-family: Times New Roman; font-size: 13px">Name: <font style="text-decoration: underline">Jon Krogstad</font></font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 288px;">
<div style="display: table-row">
<div style="display: table-cell; width: 240px"><font style="font-family: Times New Roman; font-size: 13px">Title: <font style="text-decoration: underline">Senior Vice
President</font></font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>lpth_ex102.htm
<DESCRIPTION>AFFIRMATION OF GUARANTEE
<TEXT>
<html>
<head>
<!-- Document created using Blueprint(R) - powered by Issuer Direct - www.issuerdirect.com -->
<!-- Copyright 2018 Issuer Direct Corporation -->
<title>Blueprint</title>
</head>
<body style="font-family: Times New Roman; font-size: 13px;">
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
Exhibit 10.2</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AFFIRMATION
OF GUARANTY</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">This
AFFIRMATION OF GUARANTEE is made as of October 30, 2018
(&#x201C;Affirmation&#x201D;), by the undersigned guarantor
(&#x201C;Guarantor&#x201D;) for the benefit of AVIDBANK
(&#x201C;Bank&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">RECITALS</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">LightPath
Technologies, Inc. and ISP Optics Corporation (together,
&#x201C;Borrower&#x201D;) and Bank are parties to that certain Second
Amended and Restated Loan and Security Agreement dated as of
December 21, 2016 and as amended from time to time (the
&#x201C;Agreement&#x201D;). In connection therewith, Guarantor
executed for the benefit of Bank an Unconditional Guaranty dated as
of September 30, 2013 (the &#x201C;Guarantee&#x201D;). Borrower and
Bank propose to enter into an amendment of the Agreement on or
around date hereof (the &#x201C;Amendment&#x201D;), provided that
Guarantor consents to the Amendment and agrees that the Guarantee
will remain effective.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AGREEMENT</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">NOW,
THEREFORE, Guarantor agrees as follows:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; text-indent: 48px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">1.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">Guarantor
consents to the execution, delivery and performance by Borrower of
the Amendment and the documents and instruments executed in
connection therewith.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; text-indent: 48px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">2.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">Guarantor
confirms that, as of the date hereof, Guarantor has no defenses
against its obligations under the Guarantee.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; text-indent: 48px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">3.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">The
Guarantee is and shall remain in full force and effect with respect
to Borrower&#x2019;s Obligations and otherwise and hereby is
ratified and confirmed in all respects.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; text-indent: 48px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">4.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">Unless
otherwise defined, all capitalized terms in this Affirmation shall
be as defined in the Guarantee.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="margin-left: 0px; text-indent: 48px"><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">5.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">In
the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a &#x201C;.pdf&#x201D; format data file,
such signature shall create a valid and binding obligation of the
party executing (or on whose behalf such signature is executed)
with the same force and effect as if such facsimile or
&#x201C;.pdf&#x201D; signature page were an original
hereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
[signature page follows]</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">1</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, the undersigned has executed this Affirmation of
Guaranty as of the first date above written.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">GUARANTOR:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">GELTECH,
INC.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 288px;">
<div style="display: table-row">
<div style="display: table-cell; width: 192px"><font style="font-family: Times New Roman; font-size: 13px"><a name="_Hlk528851524"><!--anchor--></a>By:
<font style="text-decoration: underline">/s/ J. James
Gaynor</font></font></div>
</div>
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<div style="display: table-cell; width: 336px"><font style="font-family: Times New Roman; font-size: 13px">Title: <font style="text-decoration: underline">President &amp; Chief Executive
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