AMENDMENT TO
NOTE CONVERSION AGREEMENT

This Amendment to Note Conversion Agreement (this “Amendment”) is made effective
as of February __, 2016 (the “Effective Date”) by and among OXIS International,
Inc., a Delaware corporation (the “Company”), and each of the undersigned
investors (each, an “Investor” and collectively, the “Investors”).
 
WHEREAS, the Company has previously entered into a Note Conversion Agreement
dated January 8, 2016 (the “Note Conversion Agreement”) with each of the
Investors pursuant to which the Investors have agreed to convert the Notes into
Note Conversion Shares upon the closing of a Financing on or before the
Financing Deadline, which is February 15, 2016.  All capitalized terms used but
not defined herein shall have the meanings set forth in the Note Conversion
Agreement.
 
WHEREAS, the Note Conversion Agreement provides that no provision of the Note
Conversion Agreement may be waived, modified, supplemented or amended except in
a written instrument signed, in the case of an amendment, by the Company and the
Note Holders holding at least a majority in interest of the Note Conversion
Shares then outstanding.
 
WHEREAS, the undersigned Investors constitute the Note Holders holding at least
a majority in interest of the Note Conversion Shares.
 
WHEREAS, the Company and each of the Investors desire to extend the Financing
Deadline set forth in the Note Conversion Agreement.
 
NOW, THEREFORE, in consideration for the mutual promises and covenants set forth
herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto hereby agree as
follows:
 
1. Extension of Financing Deadline.  The reference in Section 2(a) to a
Financing Deadline of February 15, 2016 is hereby amended to change “February
15, 2016” to “March 15, 2016.”
 
2. Approval of Amendment.  By their signatures below, the Company and each
Investor hereby adopt this Amendment.
 
3. Miscellaneous.
 
(a) Further Instruments and Acts.  Each party to this Amendment hereby agrees to
perform any further acts and to execute and deliver any further documents that
may be necessary or required to carry out the intent and provisions of this
Amendment and the transactions contemplated hereby.
 
(b) Applicable Law; Entire Agreement.  This Amendment shall be governed by and
construed in accordance with the laws of the State of Delaware, without giving
effect to principles of conflicts of law.
 
(c) Continued Validity.  Except as otherwise expressly provided herein, the Note
Conversion Agreement shall remain in full force and effect.
 
 
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(d) Execution.  This Agreement may be executed in one or more counterparts, all
of which when taken together shall be considered one and the same agreement, it
being understood that the parties need not sign the same counterpart.  In the
event that any signature is delivered by facsimile transmission or by email
delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of the party executing (or on whose behalf such signature is
executed) with the same force and effect as if such facsimile or “.pdf”
signature was an original thereof.
 
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IN WITNESS WHEREOF, the Company has executed this Amendment as of the date first
above written.
 

 
COMPANY:
 
OXIS INTERNATIONAL, INC.
 
 
By:                                                                
Name: _________________________________
Title: __________________________________
 
 
 

 

Signature page to
Amendment to Note Conversion Agreement
(Company)
 
 

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IN WITNESS WHEREOF, the undersigned Investor has executed this Amendment as of
the date first above written.
 

 
INVESTOR:
 
    If by an individual:
 
 
Printed Name: ___________________________
 
 
 
    If by an entity:
 
_______________________________________
Name of entity
 
By:                                                                
Printed Name: ___________________________
Title: __________________________________
 
 
   

 

Signature page to
Amendment to Note Conversion Agreement
(Investors)
 
 

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