Blueprint





 







Exhibit 10.1


 


 




 



2603 Challenger Tech Ct., Suite 100, Orlando, FL 32826


407-382-4003
FAX 407-382-4007


 


 


May 31,
2018


 


 


 


Mr.
Donald O. Retreage, Jr.


1555
Brookstone Drive


Hickory,
North Carolina 28602


 


Dear
Donald,


 


I am
pleased to offer you the position of Chief Financial Officer for
LightPath Technologies, Inc, reporting directly to Jim Gaynor,
Chief Executive Officer.


 


Your
base annual compensation will be $200,000.00 paid at a bi-weekly
rate of $7692.31. Your salary and responsibilities will be reviewed
and adjusted periodically depending on your performance with the
company.


 


You are
also eligible for supplemental variable compensation as part of
LightPath’s Executive Bonus Plan. You would be placed in
level two of the Executive Bonus Plan for FY 2019. In addition, you
will receive 10,000 stock options with four year vesting at 25% per
year. The strike price will be set based on the market price as of
your start date.


 


As it
is an essential requirement of this position to be based in
Orlando, it is required that you personally relocate to Florida by
June 18, 2018. You will further be required to move your family,
household and other belongings within six (6) months of your start
date. As part of this requirement we will provide a relocation
allowance up to $18,000 paid upon relocation within seven (7)
months of employment. If you leave LightPath Technologies, Inc. for
any reason other than death, disability or discharge without cause
within twelve (12) months of the move, you are responsible to
reimburse the company a prorated portion of all expenses the
company paid—to you or on your behalf. Repayment can be made
in installments. All receipts must accompany any expense request in
order to authorize reimbursement.


 


Based
on your years of experience, you will accrue 3 weeks, 120 hours
vacation plus 40 hours sick/personal hours annually.


 


LightPath
Technologies, Inc. joined Insperity, an employee leasing company.
Due to this relationship, we are able to provide top of the line
benefits that include; health, dental, vision, life, and long-term
disability insurances, FSA (flexible spending account), HSA (health
spending account), and a 401K plan. These benefits are available to
you on your first day of employment with the company. Our Director
of Corporate Human Resources, Laura Alphonso, will be able to
assist you with any questions about our benefit offerings and
enrollment. Should you have questions before your start date, feel
free to contact her at 407-382-4003, Ext. 314.


 


Insperity/LightPath
Technology is an “at will” employer which means that
employment is for no definite duration and that employment and
compensation may be terminated, with or without cause, and with or
without notice, at any time and at the option of either LightPath
or yourself.


 




 








 






 



Your anticipated start date will be Monday, June 18, 2018.
If this is not agreeable or if you have questions before your start
date, feel free to contact me or Laura Alphonso.


 


Terms
of this offer are confidential and I trust that you will treat it
as proprietary information between you and the
Company.


 


This
offer letter confirms your representation to us that (1) you are
not party to any employment agreement or other contract or
arrangement which prohibits your full-time employment with the
Company, (2) you will not disclose (nor have we solicited) any
trade secret or confidential information of any person, including
prior


employees,
to the Company and (3) you do not know of any conflict, which would
restrict your employment with the Company.


 


The
Immigration Reform and Control Act of 1986, as amended in 1990,
requires all employers to verify an employee’s identity and
right to work in the United States. You will be expected to produce
documentation (as acceptable by the Act) within three days of your
employment with LightPath.


 


The
offer described above is contingent upon the results of your
reference/background check and the signing of a confidentiality and
proprietary rights /non-compete agreement. In addition, you will be
required to complete a successful drug screening prior to your
first day of employment.


 


I
believe that you will find the opportunity both challenging and
rewarding at the same time. As a key member of our growing team,
you will see the direct results of your efforts on the bottom line
of the Company.


 


We look
forward to hearing from you about this offer. Please indicate your acceptance of our
offer by signing below and returning one copy of the letter, with
your original signature, to Laura Alphonso no later than Monday,
June 4, 2018. This signed agreement can be scanned as a PDF
and emailed to lalphonso@lightpath.com.


 


If you
have any questions concerning this offer, please do not hesitate to
contact me. We are excited to have you join LightPath and I look
forward to growing our company together.


 


 


Sincerely,


 


/s/ Jim
Gaynor


 


 


Jim
Gaynor


Chief
Executive Officer


LightPath
Technologies TM


 


ACCEPTED
AND AGREED:


 

By:        
/s/ Donald O. Retreage,
Jr.                         




 

Date:     
05/31/2018