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Commitments and Contingencies
12 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

11.

Commitments and Contingencies


Our Company conducts its operations in leased facilities under a non-cancelable operating lease expiring in 2024.


Future minimum lease payments under non-cancelable operating leases with initial or remaining terms of one year or more at December 31, 2018 are: $50,000 – 2019; $51,600  – 2020; $53,100 – 2021; $54,600 – 2022; $56,200 – 2023 and $18,900 – 2024.


Total rental expense under operating leases was $45,100 in each of the years ended December 31, 2018 and December 31, 2017.


Our Company has an employment agreement, expiring in May 2020, with Michael A. Feinstein, M.D., its Chairman of the Board and Chief Executive Officer. The employment agreement contains one-year renewal provisions that became effective after the original term. Dr. Feinstein receives base compensation of $85,000 per year plus a performance bonus determined by our Company’s Board of Directors. Our Company has an employment agreement, expiring in March 2020, with Terry W. Stovold, its Chief Operating Officer, whereby Mr. Stovold receives a salary set by our Company’s Board of Directors, currently set at $75,000, along with a commission of seven percent on sales generated by his efforts. The employment agreement contains one-year renewal provisions that became effective after the original term. Future minimum compensation payments under these employment agreements are: $160,000 to be paid in 2019 and $54,200 to be paid in 2020.


From time to time, our Company may be subject to legal proceedings and claims that arise in the ordinary course of its business.