Promissory Note Extension Agreement between Milestone Scientific Inc. and K. Tucker Andersen (May 2012)
Milestone Scientific Inc. and K. Tucker Andersen have agreed to extend the due date of a $450,000 promissory note, originally dated December 24, 2008, to January 3, 2014. All other terms and conditions of the original note remain unchanged. This agreement serves as formal confirmation of the extension, as discussed in a prior telephone conversation.
Exhibit 10.18
May 14, 2012
K. Tucker Andersen
61 Above All Road
Warren, CT 06754
Dear Mr. Andersen,
In summary of our telephone conversation we had on, Thursday, May 10, 2012, this is the formal notification that you have agreed to extend the due date of the Promissory Note with Milestone Scientific Inc. originally dated December 24, 2008 for four hundred fifty thousand dollars ($450,000) until January 3, 2014. All other terms and conditions remain the same as included in the original agreement.
Please sign below acknowledging this change.
Thank you very much for your continued support of Milestone Scientific Inc.
| Best regards, |
| /s/ Joseph D’Agostino |
| Joseph D’Agostino |
| Chief Financial Officer |
| /s/ K. Tucker Andersen |
| K. Tucker Andersen |
May 14, 2012
Date
