Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement

American Shared Hospital Services (the "Company") is a party to a Proton Beam Radiation Therapy Lease Agreement dated October 18, 2006, as amended by Amendment One to Proton Beam Radiation Therapy Lease Agreement dated effective as of August 12, 2012 (the "Lease"), under which it leases a proton beam radiation therapy system to Orlando Health, Inc. ("Orlando Health"). On March 13, 2026, the Company and Orlando Health entered into Amendment Two to Proton Beam Radiation Therapy Lease Agreement (the "Amendment"). The Amendment extends the term of the Lease for an additional seven years commencing April 6, 2026 through April 5, 2033 (the "Extended Term"), and sets the lease payment terms during the Extended Term based on a technical component collection percentage with that percentage decreasing during certain of the twelve month periods of the Extended Term. The Amendment amends certain other terms of the Lease and sets forth certain agreements between the parties with respect to the leased equipment, including (i) an option granted to Orlando Health whereby it may elect to purchase the leased equipment at the end of the lease term, including setting the purchase price and the period in which Orlando Health may exercise its option, (ii) matters related to the Company's obligation to remove, at its expense, the leased equipment from Orlando Health at the end of the Extended Term in the event Orlando Health does not exercise its purchase option, and certain financial understandings of the parties related to that obligation, and (iii) maintenance and insurance coverage obligations of the parties.

The foregoing description of the Amendment is not complete and is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.