AMENDMENT NO. 1
AMENDMENT
NO. 1
This
Amendment Number 1 to Research and Development Agreement
(this
“Amendment No. 1”) is made and entered into effective as of this 14th
day of
August, 2006 by and among NuWay Medical, Inc., BioLargo Life Technologies,
Inc,
IOWC Technologies, Inc. and Xxxxxxx Xxxx Code. Capitalized terms used herein
without definitions shall have the same meanings as defined in the Research
and
Development Agreement by and among the parties hereto dated August 11, 2006
(the
“R&D Agreement”)
1.
The
Parties agree that NuWay and BLTI will cooperate with IOWC in setting the
timetable for the creation or establishment of facilities appropriate for IOWC
and Code to conduct the Work, as defined in the R&D Agreement and,
notwithstanding the provisions of Section 2(a) of the R&D Agreement, no fees
shall be payable to IOWC pursuant to that Section until such time as facilities
are established to mutual satisfaction of the Parties.
2.
Except
as modified by this Amendment No. 1, the R&D Agreement is, and remains, in
full force and effect in accordance with its terms.
In
Witness Whereof, the Parties have executed this Amendment No. 1 effective this
14th
day of
August, 2006.
| IOWC TECHNOLOGIES, INC. | ||
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By: /s/ Xxxxxxx X.
Code
President
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/s/
Xxxxxxx X.
Code
XXXXXXX XXXX CODE
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| NUWAY MEDICAL, INC. | BIOLARGO LIFE | |
| TECHNOLOGIES, INC. | ||
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By: /s/ Xxxxxx
Xxxxxxx
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By: /s/ Xxxxxx Xxxxxxx | |
|
President
|
President
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