Dynatronics and Millstone Medical Master Service Agreement Termination Letter (October 2021)
Dynatronics and Millstone Medical Outsourcing have agreed to terminate their Master Service Agreement, originally signed on July 8, 2020. This letter serves as a 90-day notice, with Dynatronics set to vacate Millstone's facility by December 31, 2021. Dynatronics will pay all monthly fees through December 2021 and any outstanding service fees within 30 business days after termination. Millstone will continue providing services and assist with the transition until Dynatronics' exit. Both parties have signed to confirm their mutual understanding of these terms.
EXHIBIT 10.1
October 1, 2021
Millstone Medical Outsourcing, LLC
580 Commerce Drive
Fall River, MA 02720
Attn: Karl Neuberger
Cc: Tom Williams
RE: Dynatronics – Millstone Medical Master Service Agreement 90-day Termination
Mr. Neuberger:
Dynatronics desires to terminate the Master Service Agreement signed July 8, 2020 (“MSA”). Notwithstanding any other provisions of the MSA, the parties agree that this letter shall serve as a 90-day notice of said termination. Dynatronics will exit Millstone Medical’s Olive Branch facility by December 31, 2021, after which, the MSA will be cancelled, terminated, null and void.
Dynatronics agrees to continue to pay the monthly fees up to an including December 2021. Per Section 2c of the MSA, Dynatronics agrees to pay Millstone December’s fees within thirty (30) business days of the date of termination, and for the amount of any services performed up to the date of termination. Millstone agrees to continue service and aid in the transition to ensure a timely removal of Dynatronics’ products.
Signatures below acknowledge the mutual understanding of the transfer and exit as outlined above.
| Dynatronics |
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| Millstone Medical Outsourcing |
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| /s/ John Krier |
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| /s/Karl Neuberger |
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| Its: President and CEO |
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| Its: CEO |
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| Date: October 1, 2021 |
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| Date: October 6, 2021 |
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