On April 20, 2018, LightPath Technologies, Inc. (the “Company”) entered into a lease agreement (the “Lease”) with CIO University Tech, LLC (the “Landlord”) for approximately 12,378 rentable square feet in the building located at 12501 Research Parkway, Suite 180, Orlando, Florida, 32826 (the “Premises”). The Premises will provide additional manufacturing space near the Company’s corporate headquarters.

The anticipated commencement date of the Lease is August 1, 2018 (the “Commencement Date”). The term of the Lease is forty-eight (48) months, commencing on the Commencement Date (the “Lease Term”), with one renewal option for a five-year term.

The Company must pay the Landlord base rent equal to $18,567 per month during the first year of the Lease Term. Thereafter, the monthly base rent will be increased annually by three percent (3%) on each anniversary of the Commencement Date during the Lease Term. Base rent will be abated for the first full month following the Commencement Date (the “Rent Concession”); provided, however, in the event of a default, the Landlord is entitled to recover the entire Rent Concession.

In addition to the base rent, the Company must pay its proportionate share of certain operating expenses, insurance costs, and taxes for each calendar year during the Lease Term. A security deposit in the amount of $18,567 together with Company’s share of operating expenses for the first (1st) month of the Lease Term in the amount of $5,723.65 was paid to the Landlord upon execution of the Lease.

The Landlord agreed to provide the Company with a tenant improvement allowance for the Premises in an amount not to exceed $25.00 per rentable square foot, or $309,450.

The Lease contains customary representations, warranties, covenants, indemnification provisions, default provisions, and termination provisions for a commercial office lease.

The foregoing description of the terms of the Lease does not purport to be complete and is qualified in its entirety by reference to the full text of the Lease, a copy of which is attached hereto as Exhibit 10.1.

(d) Exhibits

LIGHTPATH TECHNOLOGIES INC Exhibit
EX-10.1 2 lpth_10-1.htm LEASE Blueprint   Exhibit 10.1 LEASE   1. Fundamental Lease Provisions and Exhibits.   1.1. Fundamental Lease Provisions.   Lease Date: As of the 20th day of April,…
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About LIGHTPATH TECHNOLOGIES, INC. (NASDAQ:LPTH)

LightPath Technologies, Inc. is a manufacturer and integrator of families of precision molded aspheric optics, fiber-optic collimator, GRADIUM glass lenses and other optical materials used to produce products that manipulate light. The Company designs, develops, manufactures and distributes optical components and assemblies utilizing the optical processes and manufacturing technologies. The Company also performs research and development for optical solutions for the traditional optics markets and communications markets. The Company’s products are incorporated into a range of applications by its customers in various industries, including defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors.