|   | 1. | The      Principal Amount as reflected in the Agreements, as amended, is hereby      changed from $1,600,000.00 (One million six hundred thousand dollars) to      $2,000,000.00 (Two milliondollars). |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | The      Maturity Date of the Promissory Note is changed to December 28,      2011. |
|--------|----|-------------------------------------------------------------------------------------|

|   | 3. | Effective      December 28, 2009, the Interest Rate as reflected in the Agreements      ((Section H (2)) of the Loan Agreement) is amended as    follows: |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | Effective      December 28, 2009, the monitoring fee will be one-twentieth of a percent      (0.05%) of the Principal Amount per week, payable in arrears on a monthly      basis. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | Section      D (9) of the Loan Agreement is modified to eliminate the Minimum Tangible      Net Worth covenant (B) and change the date in (A) to September 30, 2010,      both changes first effective as of and for the quarter ended September 30,      2009. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | Effective      December 28, 2009, Section H (5) of the Loan Agreement—Unused Commitment      Fee—is removed. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------|

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|   | 7. | Section      H (9) of the Loan Agreement—Extension of Term—is modified to include “only      with Secured Party’s concurrence” and to substitute “from four years to      five years” for the phrase “from two years to three  years”. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 8. | Section      H (6) of the Loan Agreement shall be amended to add the following at the      end: “except in the event of termination six months or less before the      Maturity Date, when such Prepayment Fee shall be one percent      (1%).” |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 9. | A      principal repayment arising from an updated borrowing base calculation      shall be due on or before the submission of the next borrowing base      calculation. Secured Party hereby waives any previous non-compliance      through the date hereof with respect to the past excess of the amounts      borrowed and outstanding as compared to the established borrowing base      parameters. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 10. | Debtor      hereby certifies that, except as previously waived by Secured      Party: |
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|   | · | all      of the representations and warranties contained in the Agreements are true      and correct as of the date thereof; |
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|   | · | the      Debtor is not in default under theAgreements; |
|--------|--------|--------------------------------------------------------|

|   | · | no      event of default has occurred and iscontinuing; |
|--------|--------|---------------------------------------------------------|

|   | · | Debtor      has not breached any covenant contained in the Agreements;    and |
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|   | · | the      Agreements are in full force and effect as of the date    hereof. |
|--------|--------|----------------------------------------------------------------------------|

|  | 11. | Except      as set forth above, all of the remaining terms, provisions and conditions      of the Agreements shall remain in full force and  effect. |
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|  | 12. | Simultaneous      with Debtor’s execution of this Second Amendment, Debtor will pay to      Secured Party a $40,000.00 (2% of Principal Amount) Commitment Fee, such      amount being paid in two equal installments, the first upon execution of      this Second Amendment, and the second on the first anniversary of this      Second Amendment. |
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| SECURED      PARTY:   THERMO CREDIT, LLC                    |
|----------------------------------------------------------------------------|
|                                                                       |   |
| By:                                                                        | /s/Jack V. Eumont, Jr. |
| Name:                                                                      | Jack V. Eumont, Jr. |
| Title:                                                                     | Executive Vice President |
|                                                                       |   |
|                                                                       |   |
| DEBTOR:      ONSTREAM      MEDIA CORPORATION |
|                                                                       |   |
| By:                                                                        | /s/Randy S. Selman |
| Name:                                                                      | Randy S. Selman |
| Title:                                                                     | CEO |

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