Document:

Exhibit 10.5 - Subsidiary Guarantee

    
      

      

    

    

      SUBSIDIARY
        GUARANTEE

      

      This
        SUBSIDIARY GUARANTEE, dated as of November __, 2006 (this “Guarantee”),
        made
        by each of the signatories hereto (together with any other entity that may
        become a party hereto as provided herein, (the “Guarantors”),
        in
        favor of the persons signatory (the “Subscribers”)
        to
        that certain Subscription Agreement, dated as of the date hereof between
        Oxford
        Media, Inc., a Nevada corporation (the “Company”)
        and
        the Subscribers.

       

      W
        I T N E S S E T H:

      

      WHEREAS,
        pursuant to that certain Subscription Agreement, dated as of the date hereof,
        by
        and between the Company and the Subscribers (the “Purchase
        Agreement”),
        the
        Company has agreed to sell and issue to the Subscribers, and the Subscribers
        have agreed to purchase from the Company the Company’s promissory notes (the
“Notes”),
        subject to the terms and conditions set forth therein; and

       

      WHEREAS,
        each Guarantor will directly benefit from the extension of credit to the
        Company
        represented by the issuance of the Notes; and 

       

      NOW,
        THEREFORE, in consideration of the premises and to induce the Subscribers
        to
        enter into the Purchase Agreement and to carry out the transactions contemplated
        thereby, each Guarantor hereby agrees with the Subscribers as
        follows:

       

      1.    Definitions.
        Unless
        otherwise defined herein, terms defined in the Purchase Agreement and used
        herein shall have the meanings given to them in the Purchase Agreement. The
        words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import
        when used in this Guarantee shall refer to this Guarantee as a whole and
        not to
        any particular provision of this Guarantee, and Section and Schedule references
        are to this Guarantee unless otherwise specified. The meanings given to terms
        defined herein shall be equally applicable to both the singular and plural
        forms
        of such terms. The following terms shall have the following
        meanings:

      

      “Guarantee”
means
        this Subsidiary Guarantee, as the same may be amended, supplemented or otherwise
        modified from time to time.

      

      “Obligations”
means
        in addition to all other costs and expenses of collection incurred by
        Subscribers and Agent in enforcing any of such Obligations and/or this
        Guarantee, all
        of
        the liabilities
        and obligations (primary, secondary, direct, contingent, sole, joint or several)
        due or to become due, or that are now or may be hereafter contracted or
        acquired, or owing to, of any Debtor to the Secured Parties, including, without
        limitation, all
        obligations under this Agreement, the Notes, this Guarantee and any other
        instruments, agreements or other documents executed and/or delivered in
        connection herewith or therewith, in each case, whether now or hereafter
        existing, voluntary or involuntary, direct or indirect, absolute or contingent,
        liquidated or unliquidated, whether or not jointly owed with others, and
        whether
        or not from time to time decreased or extinguished and later increased, created
        or incurred, and all or any portion of such obligations or liabilities that
        are
        paid, to the extent all or any part of such payment is avoided or recovered
        directly or indirectly from any of the Secured Parties as a preference,
        fraudulent transfer or otherwise as such obligations may be amended,
        supplemented, converted, extended or modified from time to time. Without
        limiting the generality of the foregoing, the term “Obligations” shall include,
        without limitation: (i) principal of, and interest on the Notes and the loans
        extended pursuant thereto; (ii) any and all other fees, indemnities, costs,
        obligations and liabilities of the Debtors from time to time under or in
        connection with this Agreement, the Notes, the Guarantee and any other
        instruments, agreements or other documents executed and/or delivered in
        connection herewith or therewith; and (iii) all amounts (including but not
        limited to post-petition interest) in respect of the foregoing that would
        be
        payable but for the fact that the obligations to pay such amounts are
        unenforceable or not allowable due to the existence of a bankruptcy,
        reorganization or similar proceeding involving any Debtor. Notwithstanding
        the
        preceding, any and all amounts owed to a Debtor which arises after Closing
        and
        is not part of the transactions envisioned hereunder shall become part of
        the
        Obligations only if all Holders had an opportunity to participate pro rata
        in
        the subject financing transaction.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	 	
                2.

              	
                Guarantee.

              

      

      

      
        	 	
                (a)

              	
                Guarantee.

              

      

       

      
        	 	
                (i)

              	
                The
                  Guarantors hereby, jointly and severally, unconditionally and irrevocably,
                  guarantee to the Subscribers and their respective successors, indorsees,
                  transferees and assigns, the prompt and complete payment and performance
                  by the Company when due (whether at the stated maturity, by acceleration
                  or otherwise) of the Obligations. 

              

      

       

      
        	 	
                (ii)

              	
                Anything
                  herein or in any other Transaction Document to the contrary
                  notwithstanding, the maximum liability of each Guarantor hereunder
                  and
                  under the other Transaction Documents shall in no event exceed
                  the amount
                  which can be guaranteed by such Guarantor under applicable federal
                  and
                  state laws, including laws relating to the insolvency of debtors,
                  fraudulent conveyance or transfer or laws affecting the rights
                  of
                  creditors generally (after giving effect to the right of contribution
                  established in Section 2(b)). 

              

      

      

      
        	 	
                (iii)

              	
                Each
                  Guarantor agrees that the Obligations may at any time and from
                  time to
                  time exceed the amount of the liability of such Guarantor hereunder
                  without impairing the guarantee contained in this Section 2 or
                  affecting
                  the rights and remedies of the Subscribers
                  hereunder.

              

      

      

      
        	 	
                (iv)

              	
                The
                  guarantee contained in this Section 2 shall remain in full force
                  and
                  effect until all the Obligations and the obligations of each Guarantor
                  under the guarantee contained in this Section 2 shall have been
                  satisfied
                  by payment in full. 

              

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	 	
                (v)

              	
                No
                  payment made by the Company, any of the Guarantors, any other guarantor
                  or
                  any other Person or received or collected by the Subscribers from
                  the
                  Company, any of the Guarantors, any other guarantor or any other
                  Person by
                  virtue of any action or proceeding or any set-off or appropriation
                  or
                  application at any time or from time to time in reduction of or
                  in payment
                  of the Obligations shall be deemed to modify, reduce, release or
                  otherwise
                  affect the liability of any Guarantor hereunder which shall,
                  notwithstanding any such payment (other than any payment made by
                  such
                  Guarantor in respect of the Obligations or any payment received
                  or
                  collected from such Guarantor in respect of the Obligations), remain
                  liable for the Obligations up to the maximum liability of such
                  Guarantor
                  hereunder until the Obligations are paid in
                  full.

              

      

      

      
        	 	
                (vi)

              	
                Notwithstanding
                  anything to the contrary in this Agreement, with respect to any
                  defaulted
                  non-monetary Obligations the specific performance of which by the
                  Guarantors is not reasonably possible (e.g. the issuance of the
                  Company's
                  Common Stock), the Guarantors shall only be liable for making the
                  Subscribers whole on a monetary basis for the Company's failure
                  to perform
                  such Obligations in accordance with the Transaction Documents.
                  

              

      

      

      (b)     Right
        of Contribution.
        Each
        Guarantor hereby agrees that to the extent that a Guarantor shall have paid
        more
        than its proportionate share of any payment made hereunder, such Guarantor
        shall
        be entitled to seek and receive contribution from and against any other
        Guarantor hereunder which has not paid its proportionate share of such payment,
        but only after the Obligations then due have been satisfied. Each Guarantor's
        right of contribution shall be subject to the terms and conditions of Section
        2(c). The provisions of this Section 2(b) shall in no respect limit the
        obligations and liabilities of any Guarantor to the Subscribers, and each
        Guarantor shall remain liable to the Subscribers for the full amount guaranteed
        by such Guarantor hereunder.

       

      (c)  
          No
        Subrogation.
        Notwithstanding any payment made by any Guarantor hereunder or any set-off
        or
        application of funds of any Guarantor by the Subscribers, no Guarantor shall
        be
        entitled to be subrogated to any of the rights of the Subscribers against
        the
        Company or any other Guarantor or any collateral security or guarantee or
        right
        of offset held by the Subscribers for the payment of the Obligations, nor
        shall
        any Guarantor seek or be entitled to seek any contribution or reimbursement
        from
        the Company or any other Guarantor in respect of payments made by such Guarantor
        hereunder, until all amounts owing to the Subscribers by the Company on account
        of the Obligations are paid in full. If any amount shall be paid to any
        Guarantor on account of such subrogation rights at any time when all of the
        Obligations shall not have been paid in full, such amount shall be held by
        such
        Guarantor in trust for the Subscribers, segregated from other funds of such
        Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned
        over
        to the Subscribers in the exact form received by such Guarantor (duly indorsed
        by such Guarantor to the Subscribers, if required), to be applied against
        the
        Obligations, whether matured or unmatured, in such order as the Subscribers
        may
        determine.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (d)     Amendments,
        Etc. With Respect to the Obligations.
        Each
        Guarantor shall remain obligated hereunder notwithstanding that, without
        any
        reservation of rights against any Guarantor and without notice to or further
        assent by any Guarantor, any demand for payment of any of the Obligations
        made
        by the Subscribers may be rescinded by the Subscribers and any of the
        Obligations continued, and the Obligations, or the liability of any other
        Person
        upon or for any part thereof, or any collateral security or guarantee therefor
        or right of offset with respect thereto, may, from time to time, in whole
        or in
        part, be renewed, extended, amended, modified, accelerated, compromised,
        waived,
        surrendered or released by the Subscribers, and the Purchase Agreement and
        the
        other Transaction Documents and any other documents executed and delivered
        in
        connection therewith may be amended, modified, supplemented or terminated,
        in
        whole or in part, as the Subscribers may deem advisable from time to time,
        and
        any collateral security, guarantee or right of offset at any time held by
        the
        Subscribers for the payment of the Obligations may be sold, exchanged, waived,
        surrendered or released. The Subscribers shall have no obligation to protect,
        secure, perfect or insure any Lien at any time held by them as security for
        the
        Obligations or for the guarantee contained in this Section 2 or any property
        subject thereto. 

       

      (e)     Guarantee
        Absolute and Unconditional.
        Each
        Guarantor waives any and all notice of the creation, renewal, extension or
        accrual of any of the Obligations and notice of or proof of reliance by the
        Subscribers upon the guarantee contained in this Section 2 or acceptance
        of the
        guarantee contained in this Section 2; the Obligations, and any of them,
        shall
        conclusively be deemed to have been created, contracted or incurred, or renewed,
        extended, amended or waived, in reliance upon the guarantee contained in
        this
        Section 2; and all dealings between the Company and any of the Guarantors,
        on
        the one hand, and the Subscribers, on the other hand, likewise shall be
        conclusively presumed to have been had or consummated in reliance upon the
        guarantee contained in this Section 2. Each Guarantor waives to the extent
        permitted by law diligence, presentment,
        protest, demand for payment and notice of default or nonpayment to or upon
        the
        Company or any of the Guarantors with respect to the Obligations. Each Guarantor
        understands and agrees that the guarantee contained in this Section 2 shall
        be
        construed as a continuing, absolute and unconditional guarantee of payment
        without regard to (a) the validity or enforceability of the Purchase Agreement
        or any other Transaction Document, any of the Obligations or any other
        collateral security therefor or guarantee or right of offset with respect
        thereto at any time or from time to time held by the Subscribers, (b) any
        defense, set-off or counterclaim (other than a defense of payment or performance
        or fraud or misconduct by Subscribers) which may at any time be available
        to or
        be asserted by the Company or any other Person against the Subscribers, or
        (c)
        any other circumstance whatsoever (with or without notice to or knowledge
        of the
        Company or such Guarantor) which constitutes, or might be construed to
        constitute, an equitable or legal discharge of the Company for the Obligations,
        or of such Guarantor under the guarantee contained in this Section 2, in
        bankruptcy or in any other instance. When making any demand hereunder or
        otherwise pursuing its rights and remedies hereunder against any Guarantor,
        the
        Subscribers may, but shall be under no obligation to, make a similar demand
        on
        or otherwise pursue such rights and remedies as they may have against the
        Company, any other Guarantor or any other Person or against any collateral
        security or guarantee for the Obligations or any right of offset with respect
        thereto, and any failure by the Subscribers to make any such demand, to pursue
        such other rights or remedies or to collect any payments from the Company,
        any
        other Guarantor or any other Person or to realize upon any such collateral
        security or guarantee or to exercise any such right of offset, or any release
        of
        the Company, any other Guarantor or any other Person or any such collateral
        security, guarantee or right of offset, shall not relieve any Guarantor of
        any
        obligation or liability hereunder, and shall not impair or affect the rights
        and
        remedies, whether express, implied or available as a matter of law, of the
        Subscribers against any Guarantor. For the purposes hereof, “demand” shall
        include the commencement and continuance of any legal proceedings.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (f)
             Reinstatement.
        The
        guarantee contained in this Section 2 shall continue to be effective, or
        be
        reinstated, as the case may be, if at any time payment, or any part thereof,
        of
        any of the Obligations is rescinded or must otherwise be restored or returned
        by
        the Subscribers upon the insolvency, bankruptcy, dissolution, liquidation
        or
        reorganization of the Company or any Guarantor, or upon or as a result of
        the
        appointment of a receiver, intervenor or conservator of, or trustee or similar
        officer for, the Company or any Guarantor or any substantial part of its
        property, or otherwise, all as though such payments had not been
        made.

      

      (g)     Payments.
        Each
        Guarantor hereby guarantees that payments hereunder will be paid to the
        Subscribers without set-off or counterclaim in U.S. dollars at the address
        set
        forth or referred to in the Purchase Agreement.

      

      3.    Representations
        and Warranties.
        Each
        Guarantor hereby makes the following representations and warranties to
        Subscribers as of the date hereof:

       

      (a)     Organization
        and Qualification.
        The
        Guarantor is a corporation, duly incorporated, validly existing and in good
        standing under the laws of the applicable jurisdiction set forth on Schedule
        1,
        with the requisite corporate power and authority to own and use its properties
        and assets and to carry on its business as currently conducted. The Guarantor
        has no subsidiaries other than those identified as such on the Disclosure
        Schedules to the Purchase Agreement. The Guarantor is duly qualified to do
        business and is in good standing as a foreign corporation in each jurisdiction
        in which the nature of the business conducted or property owned by it makes
        such
        qualification necessary, except where the failure to be so qualified or in
        good
        standing, as the case may be, could not, individually or in the aggregate,
        (x)
        adversely affect the legality, validity or enforceability of any of this
        Guaranty in any material respect, (y) have a material adverse effect on the
        results of operations, assets, prospects, or financial condition of the
        Guarantor or (z) adversely impair in any material respect the Guarantor's
        ability to perform fully on a timely basis its obligations under this Guaranty
        (a “Material
        Adverse Effect”).

       

      (b)     Authorization;
        Enforcement.
        The
        Guarantor has the requisite corporate power and authority to enter into and
        to
        consummate the transactions contemplated by this Guaranty, and otherwise
        to
        carry out its obligations hereunder. The execution and delivery of this Guaranty
        by the Guarantor and the consummation by it of the transactions contemplated
        hereby have been duly authorized by all requisite corporate action on the
        part
        of the Guarantor. This Guaranty has been duly executed and delivered by the
        Guarantor and constitutes the valid and binding obligation of the Guarantor
        enforceable against the Guarantor in accordance with its terms, except as
        such
        enforceability may be limited by applicable bankruptcy, insolvency,
        reorganization, moratorium, liquidation or similar laws relating to, or
        affecting generally the enforcement of, creditors' rights and remedies or
        by
        other equitable principles of general application.

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (c)     No
        Conflicts.
        The
        execution, delivery and performance of this Guaranty by the Guarantor and
        the
        consummation by the Guarantor of the transactions contemplated thereby do
        not
        and will not (i) conflict with or violate any provision of its Certificate
        of
        Incorporation or By-laws or (ii) conflict with, constitute a default (or
        an
        event which with notice or lapse of time or both would become a default)
        under,
        or give to others any rights of termination, amendment, acceleration or
        cancellation of, any agreement, indenture or instrument to which the Guarantor
        is a party, or (iii) result in a violation of any law, rule, regulation,
        order,
        judgment, injunction, decree or other restriction of any court or governmental
        authority to which the Guarantor is subject (including Federal and state
        securities laws and regulations), or by which any material property or asset
        of
        the Guarantor is bound or affected, except in the case of each of clauses
        (ii)
        and (iii), such conflicts, defaults, terminations, amendments, accelerations,
        cancellations and violations as could not, individually or in the aggregate,
        have or result in a Material Adverse Effect. The business of the Guarantor
        is
        not being conducted in violation of any law, ordinance or regulation of any
        governmental authority, except for violations which, individually or in the
        aggregate, do not have a Material Adverse Effect.

       

      (d)     Consents
        and Approvals.
        The
        Guarantor is not required to obtain any consent, waiver, authorization or
        order
        of, or make any filing or registration with, any court or other federal,
        state,
        local, foreign or other governmental authority or other person in connection
        with the execution, delivery and performance by the Guarantor of this
        Guaranty.

      

      (e)     Purchase
        Agreement.
        The
        representations and warranties of the Company set forth in the Purchase
        Agreement as they relate to such Guarantor, each of which is hereby incorporated
        herein by reference, are true and correct as of each time such representations
        are deemed to be made pursuant to such Purchase Agreement, and the Subscribers
        shall be entitled to rely on each of them as if they were fully set forth
        herein, provided, that each reference in each such representation and warranty
        to the Company's knowledge shall, for the purposes of this Section 3, be
        deemed
        to be a reference to such Guarantor's knowledge. 

      

      (f)      Foreign
        Law.
        Each
        Guarantor that was formed in, or conducting business in, a foreign jurisdiction,
        has consulted with appropriate foreign legal counsel with respect to any
        of the
        above representations for which non-U.S. law is applicable. As applicable,
        such
        foreign counsel have advised each applicable Guarantor that such counsel
        knows
        of no reason why any of the above representations would not be true and
        accurate. As applicable, such foreign counsel were provided with copies of
        this
        Subsidiary Guarantee and the Transaction Documents prior to rendering their
        advice. 

      

      
        	 	
                4.

              	
                Covenants.
                  

              

      

      

      (a)     Each
        Guarantor covenants and agrees with the Subscribers that, from and after
        the
        date of this Guarantee until the Obligations shall have been paid in full,
        such
        Guarantor shall take, and/or shall refrain from taking, as the case may be,
        each
        commercially reasonable action that is necessary to be taken or not taken,
        as
        the case may be, so that no Event of Default is caused by the failure to
        take
        such action or to refrain from taking such action by such Guarantor.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (b)     So
        long
        as any of the Obligations are outstanding, each Guarantor will not directly
        or
        indirectly on or after the date of this Guarantee:

      

      i.    
except
        with the prior written consent of the Agent (as defined in the Security
        Agreement), other
        than Permitted Indebtedness (as defined in the Purchase Agreement) enter
        into,
        create, incur, assume or suffer to exist any indebtedness for borrowed money
        of
        any kind, including but not limited to, a guarantee, on or with respect to
        any
        of its property or assets now owned or hereafter acquired or any interest
        therein or any income or profits therefrom that is
        senior
        to, or pari passu with, in any respect, such Guarantor’s obligations
        hereunder;

      

      ii. 
             other
        than Permitted Liens (as defined in the Notes) enter
        into, create, incur, assume or suffer to exist any liens of any kind, on
        or with
        respect to any of its property or assets now owned or hereafter acquired
        or any
        interest therein or any income or profits therefrom that is senior to, in
        any
        respect, such Guarantor’s obligations hereunder;

      

      iii.
             amend
        its
        certificate of incorporation, bylaws or other charter documents so as to
        adversely affect any rights of the Holder hereunder;

      

      iv.      repay,
        repurchase or offer to repay, repurchase or otherwise acquire more than a
        de
        minimis number of shares of its Common Stock or Common Stock Equivalents;
        

      

      v.    enter
        into any agreement with respect to any of the foregoing;
        or

      

      vi.   pay
        cash
        dividends on any equity securities of the Company. 

      

      (c)   None
        of
        the officers or directors of any Guarantor, to the knowledge of each respective
        Guarantor, none of the employees of each Guarantor is presently a party to
        any
        transaction with the Company or any other Guarantor (other than for services
        as
        employees, officers and directors, and other than with regard to money loaned
        to
        Company and which has been disclosed to Subscribers), including any contract,
        agreement, or other arrangement providing for the furnishing of services
        to or
        by, providing for rental of real or personal property to or from, or otherwise
        requiring payments to or from any officer, director or such employee or,
        to the
        knowledge of the Company, any entity in which any officer, director, or any
        such
        employee has a substantial interest or is an officer, director, trustee or
        partner, in each case in excess of $10,000 other than (i) for payment of
        salary
        or consulting fees for services rendered, (ii) reimbursement for expenses
        incurred on behalf of the Company and (iii) for other employee benefits,
        including stock option agreements under any stock option plan of the
        Company.

      

      
        	 	
                5.

              	
                Miscellaneous.

              

      

      

      (a)   Amendments
        in Writing.
        None of
        the terms or provisions of this Guarantee may be waived, amended, supplemented,
        or otherwise modified except in writing by the Subscribers or the
        Agent.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (b)   Notices.
        All
        notices, requests, and demands to or upon the Subscribers or any Guarantor
        hereunder shall be effected in the manner provided for in the Purchase
        Agreement, provided that any such notice, request, or demand to or upon any
        Guarantor shall be addressed to such Guarantor at its notice address set
        forth
        on Schedule
        5(b).

      

      (c)   No
        Waiver By Course Of Conduct; Cumulative Remedies.
        The
        Subscribers shall not by any act (except by a written instrument pursuant
        to
        Section 5(a)), delay, indulgence, omission or otherwise be deemed to have
        waived
        any right or remedy hereunder or to have acquiesced in any default under
        the
        Transaction Documents or Event of Default. No failure to exercise, nor any
        delay
        in exercising, on the part of the Subscribers, any right, power or privilege
        hereunder shall operate as a waiver thereof. No single or partial exercise
        of
        any right, power or privilege hereunder shall preclude any other or further
        exercise thereof or the exercise of any other right, power or privilege.
        A
        waiver by the Subscribers of any right or remedy hereunder on any one occasion
        shall not be construed as a bar to any right or remedy which the Subscribers
        would otherwise have on any future occasion. The rights and remedies herein
        provided are cumulative, may be exercised singly or concurrently and are
        not
        exclusive of any other rights or remedies provided by law.

      

      
        	 	
                (d)

              	
                Enforcement
                  Expenses; Indemnification.

              

      

      

      
        	 	
                (i)

              	
                Each
                  Guarantor agrees to pay, or reimburse the Subscribers for, all
                  its costs
                  and expenses incurred in collecting against such Guarantor under
                  the
                  guarantee contained in Section 2 or otherwise enforcing or preserving
                  any
                  rights under this Guarantee and the other Transaction Documents
                  to which
                  such Guarantor is a party, including, without limitation, the reasonable
                  fees and disbursements of counsel to the
                  Subscribers.

              

      

       

      
        	 	
                (ii)

              	
                Each
                  Guarantor agrees to pay, and to save the Subscribers harmless from,
                  any
                  and all liabilities with respect to, or resulting from any delay
                  in
                  paying, any and all stamp, excise, sales or other taxes which may
                  be
                  payable or determined to be payable in connection with any of the
                  transactions contemplated by this
                  Guarantee.

              

      

      

      
        	 	
                (iii)

              	
                Each
                  Guarantor agrees to pay, and to save the Subscribers harmless from,
                  any
                  and all liabilities, obligations, losses, damages, penalties, actions,
                  judgments, suits, costs, expenses or disbursements of any kind
                  or nature
                  whatsoever with respect to the execution, delivery, enforcement,
                  performance and administration of this Guarantee to the extent
                  the Company
                  would be required to do so pursuant to the Purchase
                  Agreement.

              

      

      

      
        	 	
                (iv)

              	
                The
                  agreements in this Section shall survive repayment of the Obligations
                  and
                  all other amounts payable under the Purchase Agreement and the
                  other
                  Transaction Documents. 

              

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (e)   Successor
        and Assigns.
        This
        Guarantee shall be binding upon the successors and assigns of each Guarantor
        and
        shall inure to the benefit of the Subscribers and their respective successors
        and assigns; provided that no Guarantor may assign, transfer or delegate
        any of
        its rights or obligations under this Guarantee without the prior written
        consent
        of the Subscribers.

       

      (f)    Set-Off.
        Each
        Guarantor hereby irrevocably authorizes the Subscribers at any time and from
        time to time while an Event of Default under any of the Transaction Documents
        shall have occurred and be continuing, without notice to such Guarantor or
        any
        other Guarantor, any such notice being expressly waived by each Guarantor,
        to
        set-off and appropriate and apply any and all deposits, credits, indebtedness
        or
        claims, in any currency, in each case whether direct or indirect, absolute
        or
        contingent, matured or unmatured, at any time held or owing by the Subscribers
        to or for the credit or the account of such Guarantor, or any part thereof
        in
        such amounts as the Subscribers may elect, against and on account of the
        obligations and liabilities of such Guarantor to the Subscribers hereunder
        and
        claims of every nature and description of the Subscribers against such
        Guarantor, in any currency, whether arising hereunder, under the Purchase
        Agreement, any other Transaction Document or otherwise, as the Subscribers
        may
        elect, whether or not the Subscribers have made any demand for payment and
        although such obligations, liabilities and claims may be contingent or
        unmatured. The Subscribers shall notify such Guarantor promptly of any such
        set-off and the application made by the Subscribers of the proceeds thereof,
        provided that the failure to give such notice shall not affect the validity
        of
        such set-off and application. The rights of the Subscribers under this Section
        are in addition to other rights and remedies(including, without limitation,
        other rights of set-off) which the Subscribers may have.

       

      (g)   Counterparts.
        This
        Guarantee may be executed by one or more of the parties to this Guarantee
        on any
        number of separate counterparts (including by telecopy), and all of said
        counterparts taken together shall be deemed to constitute one and the same
        instrument. 

      

      (h)   Severability.
        Any
        provision of this Guarantee which is prohibited or unenforceable in any
        jurisdiction shall, as to such jurisdiction, be ineffective to the extent
        of
        such prohibition or unenforceability without invalidating the remaining
        provisions hereof, and any such prohibition or unenforceability in any
        jurisdiction shall not invalidate or render unenforceable such provision
        in any
        other jurisdiction. 

      

      (i)    Section
        Headings.
        The
        Section headings used in this Guarantee are for convenience of reference
        only
        and are not to affect the construction hereof or be taken into consideration
        in
        the interpretation hereof.

      

      (j)    Integration.
        This
        Guarantee and the other Transaction Documents represent the agreement of
        the
        Guarantors and the Subscribers with respect to the subject matter hereof
        and
        thereof, and there are no promises, undertakings, representations or warranties
        by the Subscribers relative to subject matter hereof and thereof not expressly
        set forth or referred to herein or in the other Transaction
        Documents.

      

      (k)   Governing
        Law.
        THIS
        GUARANTEE SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE
        WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT REGARD TO ANY PRINCIPLES OF
        CONFLICTS OF LAWS. 

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (l)    Submission
        to Jurisdictional; Waiver.
        Each
        Guarantor hereby irrevocably
        and unconditionally:

      

      
        	 	
                (i)

              	
                submits
                  for itself and its property in any legal action or proceeding relating
                  to
                  this Guarantee and the other Transaction Documents to which it
                  is a party,
                  or for recognition and enforcement of any judgment in respect thereof,
                  to
                  the non-exclusive general jurisdiction of the Courts of the State
                  of New
                  York, located in New York County, New York, the courts of the United
                  States of America for the Southern District of New York, and appellate
                  courts from any thereof; 

              

      

       

      
        	 	
                (ii)

              	
                consents
                  that any such action or proceeding may be brought in such courts
                  and
                  waives any objection that it may now or hereafter have to the venue
                  of any
                  such action or proceeding in any such court or that such action
                  or
                  proceeding was brought in an inconvenient court and agrees not
                  to plead or
                  claim the same; 

              

      

      

      
        	 	
                (iii)

              	
                agrees
                  that service of process in any such action or proceeding may be
                  effected
                  by mailing a copy thereof by registered or certified mail (or any
                  substantially similar form of mail), postage prepaid, to such Guarantor
                  at
                  its address referred to in the Purchase Agreement or at such other
                  address
                  of which the Subscribers shall have been notified pursuant
                  thereto;

              

      

      

      
        	 	
                (iv)

              	
                agrees
                  that nothing herein shall affect the right to effect service of
                  process in
                  any other manner permitted by law or shall limit the right to sue
                  in any
                  other jurisdiction; and 

              

      

      

      
        	 	
                (v)

              	
                waives,
                  to the maximum extent not prohibited by law, any right it may have
                  to
                  claim or recover in any legal action or proceeding referred to
                  in this
                  Section any special, exemplary, punitive or consequential damages.
                  

              

      

      

      
        	 	
                (m)

              	
                Acknowledgements.
                  Each Guarantor hereby acknowledges
                  that:

              

      

      

      
        	 	
                (i)

              	
                it
                  has been advised by counsel in the negotiation, execution and delivery
                  of
                  this Guarantee and the other Transaction Documents to which it
                  is a party;
                  

              

      

       

      
        	 	
                (ii)

              	
                the
                  Subscribers have no fiduciary relationship with or duty to any
                  Guarantor
                  arising out of or in connection with this Guarantee or any of the
                  other
                  Transaction Documents, and the relationship between the Guarantors,
                  on the
                  one hand, and the Subscribers, on the other hand, in connection
                  herewith
                  or therewith is solely that of debtor and creditor; and
                  

              

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      
        	 	
                (iii)

              	
                no
                  joint venture is created hereby or by the other Transaction Documents
                  or
                  otherwise exists by virtue of the transactions contemplated hereby
                  among
                  the Guarantors and the Subscribers.

              

      

      

      (n)   Additional
        Guarantors.
        The
        Company shall cause each of its subsidiaries formed or acquired on or subsequent
        to the date hereof to become a Guarantor for all purposes of this Guarantee
        by
        executing and delivering an

      Assumption
        Agreement in the form of Annex 1 hereto.

       

      (o)   Release
        of Guarantors.
        Subject
        to Section 2.6, each Guarantor will be released from all liability hereunder
        concurrently with the repayment in full of all amounts owed under the Purchase
        Agreement, the Notes and the other Transaction Documents. 

      

      (p)   Seniority.
        The
        Obligations of each of the Guarantors hereunder rank senior in priority to
        any
        other Indebtedness (as defined in the Purchase Agreement) of such Guarantor.
        

      

      (q)   Waiver
        of Jury Trial.
        EACH
        GUARANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE PURCHASERS, HEREBY
        IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR
        PROCEEDING RELATING TO THIS GUARANTEE AND FOR ANY COUNTERCLAIM
        THEREIN.

      

      (r)   The
        parties expressly agree that the “Agent”, as defined and identified under Annex
        B to the Security Agreement, is a third party beneficiary to this Agreement
        with
        rights of enforcement.

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      

      IN
        WITNESS WHEREOF, each of the undersigned has caused this Guarantee

      to
        be
        duly executed and delivered as of the date first above written.

        

      
        	
                OXFORDSVI,
                  INC.

                 

              
	
                By:__________________________________________

                Name:

                Title:

                 

                 

                CREATIVE
                  BUSINESS CONCEPTS, INC.

                 

                By:__________________________________________

                Name:

                Title:

                 

                 

              

      

      

      

      

      

      

       

       

       

       

       

       

      
 

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      SCHEDULE
        1

      

      GUARANTORS

      

      The
        following are the names, notice addresses and jurisdiction of organization
        of
        each Guarantor.

      

      
        	 	
                JURISDICTION
                  OF

                INCORPORATION

              	
                COMPANY

                OWNED
                  BY

                PERCENTAGE

              
	 	 	 
	 	 	 
	
                OxfordSVI,
                  Inc.

              	
                Delaware

              	
                100%

              
	 	 	 
	
                Creative
                  Business Concepts, Inc.

              	
                California

              	
                100%

              

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      Annex
        1
        to

      SUBSIDIARY
        GUARANTEE

      

      ASSUMPTION
        AGREEMENT, dated as of ____ __, ______ made by ______________________________,
        a
        ______________ corporation (the “Additional
        Guarantor”),
        in
        favor of the Subscribers pursuant to the Purchase Agreement referred to below.
        All capitalized terms not defined herein shall have the meaning ascribed
        to them
        in such Purchase Agreement. 

      

      W
        I T N E S S E T H :

      WHEREAS,
        Oxford Media, Inc., a Nevada corporation (the “Company”)
        and
        the Subscribers have entered into a Securities Purchase Agreement, dated
        as of
        September 1st,
        2006
        (as amended, supplemented or otherwise modified from time to time, the
“Purchase
        Agreement”);
        

       

      WHEREAS,
        in connection with the Purchase Agreement, the Company and its Subsidiaries
        (other than the Additional Guarantor) have entered into the Subsidiary
        Guarantee, dated as of September 1st,
        2006
        (as amended, supplemented or otherwise modified from time to time, the
“Guarantee”)
        in
        favor of the Subscribers;

      

      WHEREAS,
        the Purchase Agreement requires the Additional Guarantor to become a party
        to
        the Guarantee; and

      

      WHEREAS,
        the Additional Guarantor has agreed to execute and deliver this Assumption
        Agreement in order to become a party to the Guarantee;

      

      NOW,
        THEREFORE, IT IS AGREED:

      

      1.    Guarantee.
        By
        executing and delivering this Assumption Agreement, the Additional Guarantor,
        as
        provided in Section 5(n) of the Guarantee, hereby becomes a party to the
        Guarantee as a Guarantor thereunder with the same force and effect as if
        originally named therein as a Guarantor and, without limiting the generality
        of
        the foregoing, hereby expressly assumes all obligations and liabilities of
        a
        Guarantor thereunder. The information set forth in Annex 1-A hereto is hereby
        added to the information set forth in Schedule 1 to the Guarantee. The
        Additional Guarantor hereby represents and warrants that each of the
        representations and warranties contained in Section 3 of the Guarantee is
        true
        and correct on and as the date hereof as to such Additional Guarantor (after
        giving effect to this Assumption Agreement) as if made on and as of such
        date.

       

      2.    Governing
        Law.
        THIS
        ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED
        IN
        ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

      

      

      

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      IN
        WITNESS WHEREOF, the undersigned has caused this Assumption

      Agreement
        to be duly executed and delivered as of the date first above
        written.

      

      [ADDITIONALGUARANTOR]

      

      
        	 	
                By:
                  __________________________________

              
	 	
                Name:

              
	 	
                Title:Unassociated Document

    
      

      

    

    

    AGREEMENT
      
      
        

      

    

    

    THIS
      AGREEMENT (the
      “Agreement”) is entered into effective as of the _____ day of _______, 2006 (the
“Effective Date”) by and between OXFORD MEDIA, INC., a Nevada corporation
      (“Oxford”); PALISADES MASTER FUND, LP (“Palisades”); and, LONGVIEW FUND, L.P.
      (“Longview”). Oxford, Palisades, and Longview are sometimes referred to
      collectively herein as the “Parties”, and each individually as a “Party”.
      Palisades and Longview are sometimes collectively referred to herein as the
      “Lenders”.

    

    
      	 	
              1.

            	
              RECITALS:

            

    

    

    WHEREAS,
      the
      Parties have previously entered into a Subscription Agreement dated 01 September
      2006 (the “Subscription Agreement”). All
      defined terms used herein but not otherwise defined herein shall have the same
      meanings ascribed to them as in the Subscription Agreement.

    

    WHEREAS,
      the
      Parties have performed, and
      have
      agreed to perform in the future, certain undertakings and transactions under
      the
      Subscription Agreement and the Transaction Documents (the “Transaction
      Obligations”). 

    

    WHEREAS,
      the
      Parties desire to amend the Subscription Agreement, Transaction Documents,
      and
      Transaction Obligations to the extent expressly provided herein.

    

    WHEREAS,
      Oxford
      hereby warrants that upon execution by the Parties such execution shall satisfy
      the requirements of Section 15(h) of the Subscription Agreement.

    

    WHEREAS,
      the
      Parties recognize that upon execution this Agreement will represent a legally
      enforceable contract by and between the Parties. 

    

    NOW,
      THEREFORE,
      in
      consideration of the promises and the mutual covenants contained herein, and
      for
      other good and valuable consideration, the receipt and sufficiency of which
      are
      hereby acknowledged, the Parties, intending to be legally bound, hereby agree
      as
      follows:

    

    
      	 	
              2.

            	
              PROPOSED
                ADDITIONAL FINANCING:
                

            

    

    

    2.1    The
      Lenders hereby agree to permit The Midsummer Group of Funds (“Midsummer”) to
      invest a maximum of Two Million Dollars ($2,000,000) in Oxford on the same
      terms
      and conditions as provided under the Subscription Agreement and the Transaction
      Documents, as further amended hereunder, so long as such proposed investment
      closes no later than 10 November 2006.

    

    2.2    The
      Lenders hereby waive any and all rights either may possess under Section 14(a)
      of the Subscription Agreement to participate in the proposed investment by
      Midsummer, as described above (the “Midsummer Investment”). 

    

    2.3    Oxford
      shall provide notice of the Midsummer Investment to all other Subscribers
      pursuant to Section 14(a) of the Subscription Agreement. 

     

    
 

     

     

    

      
        	
                ____________

              	 	
                _____________

              
	
                Initials

              	
                Page 1 of
                  6

              	
                Initials

              

      

      
         

        
          
            

          

        

        
          
          

        

      

    

     

    3.    REVISED
      TERMS OF NOTES:
      In
      the
      event the Midsummer Investment closes no later than 10 November 2006, and only
      upon such an event, the Lenders hereby agree to the following changes and
      amendments to the Notes executed in connection with and pursuant to the
      Subscription Agreement: 

    

    3.1    Section
      1.2 of the Notes is hereby amended in its entirety to read as follows:

    

    Simple
      interest payable on this Note shall accrue at the annual rate of ten percent
      (10%) up to and until the Effective Date of this Agreement. Upon and after
      the
      Effective Date of this Agreement, simple interest payable on this Note shall
      accrue at the annual rate of twelve percent (12%). 

    

    3.2    Section
      1.3 of the Notes is hereby amended in its entirety to read as follows:

    

    Interest
      will be payable on each of the three month anniversaries of the Issue Date
      immediately succeeding the Issue Date. Borrower shall also pay to Holder a
      principal reduction payment in cash in the amount of twelve and one-half percent
      (12.5%) of the then outstanding principal balance of this Note on 01 March
      2008
      and on each three (3) month anniversary thereafter up to and until 01 September
      2009 (the “Maturity Date”), at which time the entire amount of the outstanding
      principal balance and remaining accrued but unpaid interest shall be due and
      payable.

    

    
      	 	
              4.

            	
              REGISTRATION
                RIGHTS:

            

    

    

    4.1    The
      Lenders hereby agree that Midsummer shall be afforded the same registration
      rights as all other investors under the Subscription Agreement and shall be
      included in the Registration Statement currently being prepared for filing
      by
      Oxford as required under the Subscription Agreement. 

    

    4.2    The
      Filing Date for the Registration Statement, and for all purposes under the
      Subscription Agreement, shall now be 01 December 2006.

    

    4.3    The
      Effective Date for the Registration Statement, and for all purposes under the
      Subscription Agreement, shall now be 15 April 2007.

    

    4.4    Palisades
      hereby agrees to waive all registration rights it may have in regard to the
      Oxford Series B Convertible Preferred Stock held by Palisades (the “Series B”),
      as well as all provisions for liquidated damages related to the registration
      of
      the Series B. Instead, Oxford shall now be required to file a registration
      statement no later than thirty (30) days after the actual effective date for
      the
      Registration Statement, with the registration statement to be effective no
      later
      than ninety (90) days after the actual filing date of the registration
      statement. Oxford shall register one hundred percent (100%) of that number
      of
      shares of Oxford common stock into which the Series B is then convertible,
      and
      no other shares in regard to the Series B. 

    

     

     

    

      
        	
                ____________

              	 	
                _____________

              
	
                Initials

              	
                Page 2 of
                  6

              	
                Initials

              

      

      
         

        
          
            

          

        

        
          
          

        

      

    

     

    4.5    Palisades
      hereby agrees to limit its registration rights it may have in regard to the
      Oxford Series A Convertible Preferred Stock held by Palisades (the “Series A”)
      to the registration of one hundred percent (100%) of that number of shares
      of
      Oxford common stock into which the Series A is currently convertible, and no
      other shares in regard to the Series A, with said shares to be registered in
      the
      same registration statement as the Series B. 

    

    4.6    The
      Lenders hereby agree that by consenting to the new Filing Date and Effective
      Date established hereunder that such changes to the Subscription Agreement
      shall
      mean that no liquidated damages will have accrued under the Subscription
      Agreement as of the Effective Date of this Agreement, other than as provided
      below.

    

    4.7    As
      payment for full and complete satisfaction of all amounts owed by Oxford in
      favor of Palisades on account of liquidated damages for the Series A and Series
      B held by Palisades, Oxford shall pay to Palisades Three Hundred Twenty Five
      Thousand Dollars ($325,000). Payment shall be reflected in the form of an equal
      increase in the principal balance of the Secured Promissory Note dated 01
      September 2006 issued by Oxford in favor of Palisades pursuant to the
      Subscription Agreement. Said increase shall be effective immediately upon the
      closing of the Midsummer Investment. 

    

    4.8    The
      fee
      paid under Sections 4.7, above, shall be paid solely as consideration for full
      and complete payment of all liquidated damages owed to Palisades, and not as
      consideration for the consent to a waiver or modification of any provision
      of
      the Transaction Documents.

    

    5.    CONVERSION
      AT REDUCED CONVERSION PRICE:

    

    5.1    The
      Parties hereby consent to the reduction of the conversion price to Fifty Cents
      ($.50) per share for the convertible promissory notes issued by Oxford and
      held
      by the following individuals in the respective amounts (the “Notes”):

    

    JAMES
      C.
      BROOKS $287,500

    

    R.
      SAM
      CHRISTENSEN AND ALICE CHRISTENSEN FAMILY TRUST DATED NOVEMBER 27,
      1990 $525,000

    

    5.2    Palisades
      hereby consents to the actual conversion of the Notes into common stock of
      Oxford at the revised conversion price of Fifty Cents ($.50) per
      share.

    

    6.    CERTAIN
      OTHER AMENDMENTS:
      The
      Parties hereby agree to the following revised provisions: 

    

    6.1    The
      last
      sentence of Section 13.4 of the Subscription Agreement is hereby amended to
      read
      as follows: 

    

    Notwithstanding
      any other provision contained herein, the
      maximum aggregate liquidated damages payable to a Holder under this Agreement
      shall be 24.9% of the aggregate Purchase Price paid by such Holder pursuant
      to
      this Agreement.

    

    6.2    Sections
      4.9 and 4.10 are hereby removed in their entirety from the Notes. 

    

    

    
      	
              ____________

            	 	
              _____________

            
	
              Initials

            	
              Page 3 of
                6

            	
              Initials

            

    

    
      
         

        
          
            

          

        

        
          
          

        

      

    

    

    
      	 	
              7.

            	
              ADDITIONAL
                PROVISIONS:
                

            

    

    

    7.1    Except
      as
      specifically amended by this Agreement, each and every term, covenant, and
      condition contained in the Subscription
      Agreement and the Transaction Documents and provided for as a Transaction
      Obligations shall
      persist and remain in full force and effect, and each such term, covenant,
      and
      condition is incorporated herein by reference as though set forth in
      full.

     

    7.2    The
      provisions of Sections 15(a), (b), (c), (d), and (e), inclusive, of the
      Subscription Agreement are hereby incorporated herein by reference as if set
      forth in full. For purposes of this Agreement, (i) references to “the Company”
in those provisions shall mean Oxford; and, (ii) references to “Subscribers”
shall mean the Lenders.

    

    7.3    The
      Parties shall use and exercise their best efforts, taking all reasonable,
      ordinary and necessary measures to ensure an orderly and smooth relationship
      under this Agreement, and further agree to work together and negotiate in good
      faith to resolve any differences or problems which may arise in the
      future.

    

    8.    EXECUTION:
      This
      Agreement may be executed in any number of counterparts,
      all of which when taken together shall be considered one and the same agreement,
      it being understood that all Parties
      need not sign the same counterpart. In the event that any signature is delivered
      by fax or by e-mail 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 page were an original
      thereof.
      Each of
      the Parties
      hereby expressly forever waives any and all rights to raise the use of a fax
      machine or E-Mail to deliver a signature, or the fact that any signature or
      agreement or instrument was transmitted or communicated through the use of
      a fax
      machine or E-Mail, as a defense to the formation of a contract.

    

    IN
      WITNESS WHEREOF,
      this
      Agreement has been duly executed by the Parties and shall be effective as of
      and
      on the Effective Date set forth above. Each of the undersigned Parties hereby
      represents and warrants that it (i) has the requisite power and authority to
      enter into and carry out the terms and conditions of this Agreement, as well
      as
      all transactions contemplated hereunder; and, (ii) it is duly authorized and
      empowered to execute and deliver this Agreement. 

    

    

    

    

    

      
        	
                ____________

              	 	
                _____________

              
	
                Initials

              	
                Page 4 of
                  6

              	
                Initials

              

      

      
         

        
          
            

          

        

        
          
          

        

      

    

     

    
      EXECUTION
        PAGE TO AGREEMENT

      BETWEEN
        OXFORD, PALISADES, AND LONGVIEW

      

      

      
        	
                OXFORD:

              	
                PALISADES:

              
	 	 
	
                OXFORD
                  MEDIA, INC.

              	
                PALISADES
                  MASTER FUND, LP,

              
	 	 
	 	 
	
                BY:
                  _____________________________ 

              	
                BY:
                  _____________________________

              
	 	 
	
                NAME:
                  __________________________ 

              	
                NAME:
                  __________________________

              
	 	 
	
                TITLE:
                   __________________________

              	
                TITLE:
                   __________________________

              
	 	 
	
                DATED:
                  __________________

              	
                DATED:
                  __________________

              
	 	 
	 	 

      

      LONGVIEW
        FUND, L.P.

      

      

      BY:
        _____________________________

      

      NAME:
        __________________________

      

      TITLE:
         __________________________

      

      DATED:
        __________________

      

      *
        * * * *
        * * * * *

      

      ACKNOWLEDGMENT
        AND AGREEMENT OF CONSENT

      

      Each
        of
        the undersigned hereby acknowledges that it has reviewed this Agreement,
        is
        aware of the terms and conditions of this Agreement, and hereby consents
        to the
        transactions and the changes to the Subscription Agreement envisioned under
        this
        Agreement. 

      

      

      SIGNATURES
        APPEAR ON NEXT PAGE

      

      

      
        	
                ____________

              	 	
                _____________

              
	
                Initials

              	
                Page 5 of
                  6

              	
                Initials

              

      

      
         

        
          
            

          

        

        
          
          

        

      

      ADDITIONAL
        EXECUTION PAGE TO AGREEMENT

      BETWEEN
        OXFORD, PALISADES, AND LONGVIEW

      

      

      CAMOFI
        MASTER LDC CRESCENT
        INTERNATIONAL, LTD.

      

      

      
        	
                BY:
                  _____________________________ 

              	
                BY:
                  _____________________________

              
	 	 
	
                NAME:
                  __________________________ 

              	
                NAME:
                  __________________________

              
	 	 
	
                TITLE:
                   __________________________

              	
                TITLE:
                   __________________________

              
	 	 
	
                DATED:
                  __________________

              	
                DATED:
                  __________________

              

      

      

      

      PLUS
        FOUR
        PRIVATE EQUITIES, L.P.

      

      

      BY:
        _____________________________

      

      NAME:
        __________________________

      

      TITLE:
         __________________________

      

      DATED:
        __________________

      

      

      _     
        ____________________________

      DAVID
        L.
        PARKER

      

      DATED:
        __________________

      

      

           
        _____________________________

      LEWIS
        JAFFE

      

      DATED:
        __________________

      

      

      

        
          	
                  ____________

                	 	
                  _____________

                
	
                  Initials

                	
                  Page 6 of
                    6

                	
                  Initials

                

        

      

    

    
      
         

      

      
        
          

        

      

      
         

      

    

     

    

      AMENDMENT
        TO AGREEMENT

      
        
          

        

      THIS
        AMENDMENT TO AGREEMENT is
        made
        this ____ day of ____________, 2006, by and between OXFORD
        MEDIA, INC., a Nevada corporation (“Oxford”); PALISADES MASTER FUND, LP
        (“Palisades”); and, LONGVIEW FUND, L.P. (“Longview”),
        in order
        to modify that certain Agreement attached hereto as Exhibit “A” (the “Original
        Agreement”).

       

      I

      

      AMENDMENT

      

      
        	 	
                1.1

              	
                Section
                  4.4 of the Original Agreement is hereby amended to read as
                  follows:

              

      

      

      4.4    Palisades
        hereby agrees to amend the registration rights it is afforded in regard to
        the
        Oxford Series B Convertible Preferred Stock held by Palisades (the “Series B”)
        as follows: (i) Oxford shall now be required to file a registration statement
        no
        later than thirty (30) days after the actual effective date for the Registration
        Statement required to be filed on or before 01 December 2006 (the “Subsequent
        Registration Statement”); (ii) the Subsequent Registration Statement shall be
        declared effective no later than ninety (90) days after the actual filing
        date
        of the Subsequent Registration Statement; (iii) Oxford shall register in
        the
        Subsequent Registration Statement one hundred percent (100%) of that number
        of
        shares of Oxford common stock into which the Series B is then convertible,
        and
        no other shares in regard to the Series B other than a continuing obligation
        to
        register one hundred percent (100%) of that number of shares of Oxford common
        stock into which the Series B is then convertible as amended or changed from
        time-to-time; (iv) the
        maximum aggregate liquidated damages payable in regard to the Series B shall
        be
        24.9% of the aggregate Purchase Price paid by Midsummer for the Series B;
        and,
        (v) subject to the terms hereunder, all liquidated damages that are accrued
        and
        unpaid prior to the date hereof shall be waived by Palisades if not for this
        Agreement.

      

      
        	 	
                1.2

              	
                Section
                  4.5 of the Original Agreement is hereby amended to read as
                  follows:

              

      

      

      4.5    Palisades
        hereby agrees to amend the registration rights it is afforded in regard to
        the
        Oxford Series A Convertible Preferred Stock held by Palisades (the “Series A”)
        as follows: (i) the same filing and effectiveness requirements of the Subsequent
        Registration Statement shall apply; (ii) Oxford shall register in the Subsequent
        Registration Statement one hundred percent (100%) of that number of shares
        of
        Oxford common stock into which the Series A is then convertible, and no other
        shares in regard to the Series A other than a continuing obligation to register
        one hundred percent (100%) of that number of shares of Oxford common stock
        into
        which the Series A is then convertible as amended or changed from time-to-time;
        (iii) the
        maximum aggregate liquidated damages payable in regard to the Series A shall
        be
        24.9% of the aggregate Purchase Price paid by Palisades for the Series A;
        and,
        (iv) subject to the terms hereunder, all liquidated damages that are accrued
        and
        unpaid prior to the date hereof shall be waived by Palisades if not for this
        Agreement.

      

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      
        	 	
                1.3

              	
                The
                  Original Agreement is hereby amended by adding the following new
                  provision, to be identified as Section 4.9:

              

      

      

      Notwithstanding
        any provision herein to the contrary, all registration obligations imposed
        on
        Oxford under the Original Agreement, as amended, shall be subject to and
        conditioned on the position of the Commission in regard to the registration
        of
        Registrable Securities under Rule 415 of the 1933 Act, as amended from
        time-to-time (the “415 Limitations”). As such, Oxford shall only be required to
        register that amount of Registrable Securities as it is permitted under the
        415
        Limitations. If at any time Oxford can not register the entire amount of
        Registrable Securities it is otherwise obligated to register due solely to
        the
        415 Limitations, then (i) Oxford not be liable for any such registration
        deficiency; (ii) Oxford shall register, on a “pro rata basis” (as described
        below), the maximum number of all Registrable Securities permitted under
        the 415
        Limitations; and, (iii) Oxford shall be obligated to file successive
        registration statements as frequently as permitted under the 415 Limitations
        until all of Oxford’s registration obligations under the Original Agreement, as
        amended, have been satisfied. Registration on a “pro rata basis” shall be based
        upon the total number of Registrable Securities held by all Subscribers and
        Holders.

      

      
        	
              	1.4	
                The
                  Original Agreement is hereby amended by adding the following new
                  provision, to be identified as Section 4.10: 

              

      

      

      The
        minimum number of shares of common stock of Oxford which Oxford must register
        in
        the Registration Statement to be filed on or before 01 December 2006 is
        1,275,032 shares, to be allocated as follows:

      

      
        	
                Midsummer
                  Investment Ltd.

              	
                427,531

              
	
                Palisades
                  Master Fund, LP

              	
                413,157

              
	
                Longview
                  Fund, L.P.

              	
                244,981

              
	
                Camofi
                  Master LDC

              	
                86,075

              
	
                Crescent
                  International, Ltd.

              	
                43,037

              
	
                Plus
                  Four Private Equities, L.P.

              	
                43,037

              
	
                David
                  L. Parker

              	
                8,607

              
	
                Lew
                  Jaffe

              	
                8,607

              

      

      

      
        	 	
                1.5

              	
                The
                  Original Agreement is hereby amended by adding the following new
                  provision, to be identified as Section
                  4.11:

              

      

      

      The
        terms
        and conditions of this Agreement shall not constitute or represent, in any
        manner or form, (i) a registration default by Oxford in respect of any
        registration obligation of Oxford; or, (ii) a waiver of any cash-less exercise
        rights in favor of the holder of any warrants issued by Oxford; or, (iii)
        a
        hindrance on any cash-less exercise rights held by any holder of warrants
        issued
        by Oxford. 

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      II

      

      PRECEDENCE
        AND INCORPORATION BY REFERENCE

      

      Except
        as
        specifically amended by this Amendment to Agreement, each and every term,
        covenant and condition contained in the Original Agreement referenced above
        shall persist and remain in full force and effect, and each such term, covenant
        and condition is incorporated herein by reference as though set forth in
        full.
        All capitalized and defined terms not otherwise defined herein shall have
        the
        same definition and meaning ascribed to them as in the Original Agreement.
        

      

      III

      

      ACCEPTANCE
        AND EXECUTION

      

      This
        Amendment to Agreement, as amended, is hereby accepted by the undersigned.
        Its
        validity, construction, and all rights hereunder shall be governed by the
        laws
        of the State of New York.

       

      
        	OXFORD: 	PALISADES:
	 	 
	
                OXFORD
                  MEDIA, INC.

              	
                PALISADES
                  MASTER FUND, LP,

              
	 	 
	 	 
	
                BY:
                  _____________________________ 

              	
                BY:
                  _____________________________

              
	 	 
	
                NAME:
                  __________________________ 

              	
                NAME:
                  __________________________

              
	 	 
	
                TITLE:
                   __________________________

              	
                TITLE:
                   __________________________

              
	 	 
	
                DATED:
                  __________________

              	
                DATED:
                  __________________

              

      

      

      

      LONGVIEW
        FUND, L.P.

      

       

      BY:
        _____________________________

      

      NAME:
        __________________________

      

      TITLE:
         __________________________

      

      DATED:
        __________________

      

      *
        * * * *
        * * * * *

      

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      ACKNOWLEDGMENT
        AND AGREEMENT OF CONSENT

      

      Each
        of
        the undersigned hereby acknowledges that it has reviewed this Amendment to
        Agreement, is aware of the terms and conditions of this Amendment to Agreement,
        and hereby consents to the terms and conditions outlined above. 

      

      
        	
                CAMOFI
                  MASTER LDC

              	
                CRESCENT
                  INTERNATIONAL, LTD.

              
	 	 
	 	 
	
                BY:
                  _____________________________ 

              	
                BY:
                  _____________________________

              
	 	 
	
                NAME:
                  __________________________ 

              	
                NAME:
                  __________________________

              
	 	 
	
                TITLE:
                   __________________________

              	
                TITLE:
                   __________________________

              
	 	 
	
                DATED:
                  __________________

              	
                DATED:
                  __________________

              

      

      

      

      PLUS
        FOUR
        PRIVATE EQUITIES, L.P.

      

      

      BY:
        _____________________________

      

      NAME:
        __________________________

      

      TITLE:
         __________________________

      

      DATED:
        __________________

      

      

      _     
        ____________________________

      DAVID
        L.
        PARKER

      

      DATED:
        __________________

      

      

      _     
        ____________________________

      LEWIS
        JAFFE

      

      DATED:
        __________________

      

      

      
 

       

       

       

       

       

      4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]