On December 20, 2021, LightPath Technologies, Inc. and BankUnited, N.A. entered into the Second Amendment to the Loan Agreement dated February 26, 2019, which further amended that certain Loan Agreement, dated February 26, 2019, with BankUnited, and as amended by that certain First Amendment to Loan Agreement, effective May 6, 2019. The Second Amendment memorializes the items agreed to in the Letter Agreement entered into on November 5, 2021, which was filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on November 9, 2021. In accordance with the Second Amendment, the parties agreed to the following terms, among others: (i) a maturity date of April 15, 2023 with respect to the Term Loan; (ii) an increased monthly payment amount of $100,000 commencing on November 1, 2022; (iii) beginning on December 20, 2021, each facility will bear interest at BankUnited’s then-prime rate of interest minus fifty (50) basis points, as adjusted from time to time, (iv) the Term Loan will bear a higher interest rate commencing on August 1, 2022; (v) an exit fee equal to 4% of the outstanding principal balance of the Term Loan on April 15, 2023 (to the extent the Term Loan is still outstanding on such date and has not been refinanced with another lender); and (vi) a fee of $50,000 payable upon execution of the Second Amendment. The Second Amendment also granted a waiver of compliance for the Financial Covenants for the periods ended December 31, 2021, March 31, 2022 and June 30, 2022.