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|                                                                                                                                                                                                                                     | Company:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                     | OXIS INTERNATIONAL, INC.  By:       /s/ Anthony Cataldo                                                      Name:           Anthony CataldoTitle:             President    |
| Holders:                                                                                                                                                                                                                            |   Principal Amount of Debentures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| THEOREM GROUP, LLC  By: /s/ Anshuman Dube         Name:  Anshuman Dube         Title:    Managing Director  | $55,000.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| EASTERN ADVISORS CAPITAL, LTD  By: ______________________________      Name: ______________________      Title: _______________________                       | $300,000.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| EA OXIS, LLC  By: ______________________________      Name: ______________________      Title: _______________________                                             | $250,000.00                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |