**Exhibit10.1**

**LiquidmetalTechnologies, Inc.**

**25800 Commercentre Drive, Suite100**

**LakeForest, California  92630**

November13, 2006

Mr.James Kang

Hyundai Hyperiod

Youngsan-Gu, Hannam-Dong

Seoul,Korea

Re:  Amendment of Stock Option Agreements andConsulting Agreement

Thisletter agreement sets forth the terms upon which Liquidmetal Technologies, Inc.(the “Company”) has agreed to amend certain stock option agreements and theconsulting agreement dated October 20, 2006 (the “Consulting Agreement”) betweenyou and the Company.

Effectiveas of the date of this letter and notwithstanding the termination of youremployment with the Company, the Company has agreed that those optionspreviously granted to you under the Company’s various option plans (the “Plans”)will continue to be exercisable by you as if you had been employed by theCompany on an uninterrupted basis at all times so long as you continue to beengaged by the Company as a consultant or an employee.  Specifically, the following stock optionsshall be subject to the extension.
| Plan                    | ** ** | **Date of   Grant** | ** ** | **Grant Type** | ** ** | **Exercise  Price** | ** ** | **No. Of  Remaining  Options   Extended** | ** ** |
|-------------------------|------------|-------------------------------|------------|---------------------|------------|---------------------|------------|-----------------------------------------------------|------------|
| 1996 LT  Incentive Plan |       | 4/8/1998                      |       | Incentive           |       | $                   | 2.325      |                                                | 43,010     |   |
| Non-Qualified           |       | 4/8/1998                      |       | Non-Qualified       |       | $                   | 2.325      |                                                | 253,764    |   |
| 1996 LT  Incentive Plan |       | 5/21/2001                     |       | Non-Qualified       |       | $                   | 6.200      |                                                | 2,532,359  |   |
| 1996 LT Incentive Plan  |       | 5/21/2001                     |       | Incentive           |       | $                   | 6.200      |                                                | 48,387     |   |

 

Notwithstandingthe foregoing, the options for which you will have an extended exercise periodas set forth above, shall in all other respects continue to be subject to theterms and conditions of the Plans and the applicable stock option agreements(including conditions and restrictions on exercise, vesting, termination andexpiration of grant).

Alsoeffective as of the date of this letter, the Consulting Agreement shall beamended whereby “Section 5. Termination; paragraph (a) Death” shall be strickenin its entirety and replaced with the following:

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**5.****             ****Termination; (a) Death:**  Inthe event of Consultant’s death, the Consultant’s estate shall be entitled toreceive the consulting fees that the Consultant would otherwise be entitled to receiveunder this Agreement on an uninterrupted basis up through December 31, 2009, thetermination date of this Agreement.

Ifyou are in agreement with the terms, conditions, and restrictions of thisletter agreement, please sign below to indicate your assent.  Upon your signature, this letter agreementshall be deemed to be an amendment to the above-referenced stock optionsagreements.
|                           | Sincerely                           |
|--------------------------------|-------------------------------------|
|                           |                                |
|                           |                                |
|                           | /s/ Larry Buffington                |   |
|                           | Larry Buffington, President and CEO |
|                           |
|                           |
| Acknowledged and Agreed as of  |
| the 13th day of November, 2006 |
|                           |
| Signature:                     | /s/ James Kang                      |   |
|                           | James Kang, individually            |
|                                |                                     |  |  |  |

 

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