Company: MLSS
Filing Date: 2025-11-12
Form Type: DEF 14A
Source: 0001493152-25-021913
Chunk: 26

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-12
Form: DEF 14A
Chunk 26
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 of his employment agreement.

As of February 2024, the University Pain Medicine Center (STEMMEE), of which Dr. D. Demesmin, a Company board member is the CEO agreed to purchases products from the Company under the same terms and conditions applying to other medical pain clinics in the United States. STEMMEE purchased medical products in the amount of $21,000 for the year ended December 31, 2024

Mr. Arjan Haverhals retired as the Chief Executive
Officer and other officer positions with the Company on December 31, 2024. The Company entered into a consulting agreement with Mr. Arjan
Haverhals that commenced on January 1, 2025, and continues for an indefinite period, subject to the Company having the right to terminate
the Consulting Agreement on 30 days advance notice in the event of his disability to provide services and either party having the right
to terminate the Consulting Agreement on 90 days’ advance notice. Mr. Haverhals will be paid an annual fee at the rate of $350,000,
at the rate of $150,000 in respect of the first calendar quarter of 2025, and at the rate of $66,666, in respect of each subsequent calendar
quarter of 2025, payable monthly in arrears, in each case in equal monthly installments on the last day of each month of such quarter.
The Company will reimburse Mr. Haverhals for reasonable expenses in providing the services. Mr. Haverhals will be an independent contractor
and will not be provided with health and accident insurance, life insurance, paid sick leave and/or paid vacation time. In connection
with the Consulting Agreement, he has also entered into a Company-standard form of non-disclosure, non-solicitation, non-competition
and invention agreement. Mr. Haverhals will be issued 895,012 shares of the Company’s stock ninety days after the termination
of his consulting relationship.

The Company entered into a consulting agreement with Mr. Arjan Haverhals, which commenced on January 1, 2025, and continues for an indefinite period, subject to the Company having the right to terminate the Consulting Agreement on 30 days advance notice in the event of his disability to provide services and either party having the right to terminate the Consulting Agreement on 90 days’ advance notice. Mr. Haverhals will be paid an annual fee at the rate of $350,