Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 74

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 74
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 to
the Director of Clinical Affairs of $25,000,
and $103,000
for the three and nine months ended September 30, 2025 and $39,000 and $117,000 for the three and nine months ended September 30
2024, respectively. As of September 30, 2025 and December 31, 2024, Milestone Scientific owed the Director Clinical Affairs for
royalties of approximately $244,000
and $110,000,
respectively, which is included in accounts payable, related party and accrued expense, related party, in the unaudited condensed
consolidated balance sheets.

Directors

Leonard
Osser

On
March 2, 2021, the Company entered into a Royalty Sharing Agreement with Leonard Osser, pursuant to which Mr. Osser sold, transferred
and assigned to the Company all of his rights in and to a certain patent application as to which he is a co-inventor with Mark Hochman,
a consultant to the Company, and the Company agreed to pay to Mr. Osser, beginning May 9, 2027, half of the royalty (2.5%) on net sales
that would otherwise be payable to Mark and Claudia Hochman under their existing Technology Sale Agreement, dated January 1, 2005 and
amended from time to time, 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