Item 1.01 Entry into a Material Definitive Agreement.

On November 30, 2020, Milestone Scientific Inc. (the "Company") and Wand Dental, Inc., a wholly-owned subsidiary of the Company ("Wand Dental") terminated the exclusive rights granted to Henry Schein Inc. ("Henry Schein") for distribution of The Wand® STA® Computer Assisted Anesthesia System, including its disposable, single-use handpiece, and certain related products (the "Wand STA System"), in the United States and Canada, in accordance with the Exclusive Distribution and Supply Agreement dated as of June 20, 2016 (the "Agreement") between the Company and Henry Schein. As per the Agreement, Henry Schein will remain a distributor of the Company for the Wand STA System, albeit on a non-exclusive basis, for a period of one year from such termination date. As a result, the Company now looks forward to implementing a strategy where it will have multiple distributors throughout the United States and Canada, to broaden its distribution coverage and marketing coverage. The Company believes this will allow it to increase its market penetration, with a more significant return on its marketing dollars.

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