NOTE

July 2017,

three

$300,

per annum and additionally earn annual bonuses of up to an aggregate of payable half in cash and half in Milestone Scientific common stock (“Bonus Shares”) contingent upon achieving performance benchmarks periodically set for each year by the compensation committee of the Board. In addition to any such shares of common stock, Mr. Goldberger was entitled to receive stock options (“Bonus Options”) to acquire twice the number of any Bonus Shares earned, pursuant to a non-qualified stock option grant agreement under Milestone Scientific’s then existing equity compensation plan. The Bonus Options had a -year term and were to vest in equal annual installments on each of the first, and anniversary of the grant date, subject to continued employment on such vesting date and accelerated vesting upon the occurrence of certain events. The exercise price of the Bonus Options was based on the fair market value of per share of common stock on the date of grant.

July 2017,

stone Scientific granted to Mr. Goldberger non-qualified stock options to purchase shares of common stock at an exercise price of per share. Those options had a -year term and were to vest in equal annual installments on each of the first, and anniversaries of the grant date, subject to his continued employment on the vesting date and accelerated vesting upon the occurrence of certain events.

October 5, 2017,

resigned as President and Chief Executive Officer effective upon which the previously described stock options granted to him in terminated prior to vesting (see Note ).

July 2017,

ten

ar new employment agreement with Leonard Osser, who previously served as the Company’s President and Chief Executive Officer, to serve as Managing Director – China Operations. This new agreement provides for annual compensation of consisting of in cash and in the Company’s common stock valued at the average closing price of the Company’s common stock on the NYSE or such other market or exchange on which its shares are then traded during the () trading days of the last full calendar month of each year during the term of this agreement. This agreement supersedes all prior employment agreements between Mr. Osser and Milestone Scientific. 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 lump sum payment as soon as practicable following such termination: an amount equal to the aggregate present value (as determined in accordance with Section (d)() of the Code) of all compensation pursuant to this agreement from the effective date of termination hereunder through the remainder of the Employment Term.

July 2017,

also resigned from his positions of Chairman of the Board, Chief Executive Office and President of Milestone Medical. Upon his resignation, Milestone Medical entered in a consulting agreement with U.S. Asian Consulting Group LLC, an entity controlled by Mr. Osser, pursuant to which he will provide specific services to Milestone Medical for a - year term. Pursuant to the consulting agreement, U.S. Asian Consulting Group, LLC, is entitled to receive per year for Mr. Osser's services.