Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 29

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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, with the Company. In connection with the Royalty Sharing Agreement, the Hochman’s agreed with the Company,
pursuant to an addendum to such a Technology Sale Agreement dated February 25, 2021, to reduce from 5% to 2.5% the payments due to them
under their Technology Sale Agreement beginning on May 9, 2027, and thereafter with respect to dental products embodying the invention.

As
part of the Succession Plan of the Company, Mr. Osser agreed, pursuant to an agreement dated April 6, 2021 (the “Succession Agreement”),
to restructure certain of his existing agreements with the Company, which provide for additional and broader executive support, and at
such time as he elects to step down as Interim Chief Executive Officer of the Company, to become the Vice Chairman of the Board of the
Company.

With
respect to Mr. Osser’s July 2017 Employment Agreement and July 2017 Consulting Agreement (each as previously disclosed), the compensation
under the Employment Agreement was modified to reduce the overall compensation by $100,000 to $200,000, split equally between a cash
amount and an amount in shares, and the compensation under the Consulting Agreement was increased by $100,000 to $200,000, equally split
between a cash amount and an amount in shares, which shares were formerly payable under the Employment Agreement. If the Company
terminates Mr. Osser’s employment “Without Cause,” other than due to his death or disability, or if Mr. Osser terminates
his employment for “Good Reason” (both as defined in the agreement), Mr. Osser is entitled to be paid in one lump sum payment
as soon as practicable following such termination: an amount equal to the aggregate present value (as determined in accordance with Section
280G(d)(4) of the Code) of all compensation pursuant to this agreement from the effective date of termination hereunder through the remainder
of the Employment Term. 

     18 

In
connection with his acceptance of the Vice Chairman position and in consideration of his services as a member of the Board and agreement
to provide certain additional general consulting services, Mr. Osser was granted options to purchase 2,000,000 shares of common stock,
exercisable at the fair market value of the common stock on the date of grant, vesting over the five years after he steps down as