On August 26, 2016, Misonix, Inc. and Michael A. McManus, Jr., a Director and the President and Chief Executive Officer of the Company, entered into a Retirement Agreement and General Release. Pursuant to the Agreement, on September 2, 2016, if the Agreement is not revoked by Mr. McManus in accordance with applicable Federal law, Mr. McManus will resign as a Director and the Chairman of the Board of Directors of the company and retire as President and Chief Executive Officer of the company. On August 26, 2016, pursuant to the request of the Board of Directors, Stavros G. Vizirgianakis, 46, a member of the company's Board of Directors since May 7, 2013 and Compensation Committee since February 4, 2016, agreed to serve, on an unpaid basis, as the company's interim Chief Executive Officer, effective September 2, 2016.

The company and Mr. Vizirgianakis are in negotiations for Mr. Vizirgianakis to accept employment as the company's full-time Chief Executive Officer.