Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 75

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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 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 Interim
Chief Executive Officer of the Company or ten years from the date of grant, whichever shall end first. The Company believes that the
effect of such existing agreements sold in the United States, Canada and to the period after such time Mr. Osser steps down as Interim
Chief Executive Officer of the Company, collectively expand Mr. Osser’s consulting to and support of the Company beyond its Chinese
operations also to include its medical and other products, while enhancing the retention aspects of the Company’s relationship
with Mr. Osser. On May 19, 2021, Mr. Osser resigned as Chief Executive Officer of the Company and assumed the role of Vice Chairman of
the Board. 

Compensation
under the Employment Agreement and the Consulting Agreement is payable for 9.5 years from May 19, 2021. The Company
recorded expenses of $50,000 and $100,000
related to the Employment Agreement for the three and nine months ended September 30, 2025. The Company recorded expenses of $50,000