THIS EMPLOYMENT AGREEMENT (this "Agreement") is made and entered into effective as of November
3, 2004 (the "Effective Date"), by and between LIQUIDMETAL TECHNOLOGIES, a Delaware corporation
(the "Company"), and Tony Chung (the "Employee").
WHEREAS, the Employee desires to be employed by the Company upon the terms and conditions set forth in
this Agreement; and
WHEREAS, the Company desires to assure itself of the Employee's continued employment in the capacities set
NOW, THEREFORE, in consideration of the foregoing recitals and for other good and valuable consideration,
the parties hereto covenant and agree as follows:
1. EMPLOYMENT. The Company hereby employs Employee, and the Employee hereby accepts such
employment, upon the terms and conditions set forth in this Agreement.
2. TERM. Subject to the terms and conditions of this Agreement, including, but not limited to, the provisions for
termination set forth in Section 5 hereof, the employment of the Employee under this Agreement shall commence
on the Effective Date and shall continue through the close of business on November 2, 2007 (the "Initial Term").
Upon the expiration of the Initial Term, the Employee's employment with the Company will continue on an "at-
will" basis and may be terminated by Employee or the Company for any reason and at any time, provided that the
terminating party shall provide at least thirty (30) days prior written notice of the termination to the other party
(unless the termination is With Cause as defined in this Agreement, in which case the Employee's employment
may be terminated immediately). Notwithstanding the expiration of the Initial Term of this Agreement, the
provisions of this Agreement other than those of Sections 1, 4, and 5, Term, Compensation, and Termination,
respectively, shall remain in full force and effect. All other provisions of this Agreement, including but without
limitation, Sections 2, 6, and 7, entitled Employment, Nonsol