Milestone Scientific Inc. announced the retirement of Joseph D'Agostino, the Company's Chief Financial Officer and Chief Operating Officer. Mr. D'Agostino, age 70, has been instrumental in overseeing treasury and cash management, strategic planning, information technology, internal controls, Sarbanes-Oxley compliance, operations, and financial and tax accounting. The Company has hired an executive search firm to assist in the identification and selection of a new Chief Financial Officer. The Company believes its current financial and accounting team will be sufficient to support ongoing operations and financial reporting. Mr. D'Agostino will continue as an advisor to the Company. In addition, as part of the Succession Plan of the Company, Leonard Osser, the Interim Chief Executive Officer of the Company, has agreed pursuant to an agreement dated April 6, 2021 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 Directors of the Company. This commitment is expected to be for at least five years. The Company believes that the effect of such existing agreements and the Succession Agreement, all of which relate to the period after such time Mr. Osser steps down as Chief Executive Officer of the Company, collectively expand Mr. Osser's consulting to and support of the Company beyond its Chinese operations to also include its medical and other products, while enhancing the retention aspects of the Company's relationship with Mr. Osser.