Amendment No. 3 To Research And Development Agreement

EXHIBIT 10.2


Amendment No. 3 to


Research and Development Agreement


This Amendment No. 3 (this "Amendment No. 2") to that certain Research and Development Agreement dated August 11, 2006, as amended effective August 14, 2006 and December 20, 2006 (as so amended, , the "R&D Agreement") by and among BioLargo, Inc., formerly known as NuWay Medical, Inc. (the Company"), BioLargo Life Technologies, Inc, IOWC Technologies, Inc. ("IOWC") and Kenneth Reay Code (91Code") . Capitalized terms used herein without definitions shall have the same meanings as defined in the Consulting Agreement.


1. The Parties agree that the termination of the R&D Agreement shall be extended from March 31, 2007 to the first to occur of (i) June 30, 2007 or (ii) the date Code and IOWC Technologies, Inc. consummate their sale to the Company, or to any person or entity owning, owned by, controlled by or under control with the Company, of certain assets, ...