Related Party Transactions

12 Months Ended

Dec. 31, 2014

15.

RELATED PARTY TRANSACTIONS

Dr. David S. Tomsche (Chair of our Board of Directors) is a controlling owner of Leedstone Inc. (formerly Stearns Veterinary Outlet, Inc.), a domestic distributor of ImmuCell products (First Defense^®, Wipe Out^®Dairy Wipes, and CMT) and of J-t Enterprises of Melrose, Inc., an exporter. His affiliated companies purchased $426,358, $395,042 and $326,513 of products from ImmuCell during the years ended December 31, 2014, 2013 and 2012, respectively, on terms consistent with those offered to other distributors of similar status. We made marketing-related payments of $7,330, $6,010 and $1,000 to these affiliate companies during the years ended December 31, 2014, 2013 and 2012, respectively. Our accounts receivable (subject to standard and customary payment terms) due from these affiliated companies aggregated $18,796 and $31,445 as of December 31, 2014 and 2013, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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