Line of Credit Increase Agreement between Milestone Scientific Inc. and K. Tucker Andersen

Summary

Milestone Scientific Inc. and K. Tucker Andersen have agreed to increase an existing line of credit from $1,000,000 to $1,300,000. Amounts above $1,000,000 can be drawn in increments of $25,000. All other terms from the previous agreement remain unchanged. Upon acceptance, Milestone will issue a new promissory note to reflect the increased credit line, replacing the prior note.

EX-10.13 4 c14776exv10w13.htm EXHIBIT 10.13 Exhibit 10.13

Exhibit 10.13

April 18, 2008

Mr. K. Tucker Andersen
61 Above All Road
Warren, CT 06754

Line of Credit for $1,300,000

Dear Tucker:

This will confirm that the line of credit you opened for Milestone Scientific Inc. as of June 28, 2007, in the aggregate amount of $1,000,000, has been increased to $1,300,000. Monies under the line in excess of $1,000,000 may be drawn in multiples of $25,000. The other terms of the letter agreement continue unchanged.

If this conforms with your understanding with Milestone please countersign and return the copy of this letter. Milestone will then issue to you a new promissory note evidencing the increased line of credit in exchange for the prior promissory note.


	Very truly yours MILESTONE SCIENTIFIC INC.
	by:		/s/ Joe W. Martin
			Joe W. Martin
			Chief Executive Officer

Accepted and agreed to
this 18th day of April, 2008


/s/ K. Tucker Andersen K. Tucker Andersen