Document:

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                                                                    Exhibit 10.3

                              FIRST AMENDMENT TO LEASE

         THIS AMENDMENT, dated this 23rd day of May, 2006, between MP SORRENTO
MESA, LLC, a Delaware limited liability company ("Landlord") and FRANKLIN
WIRELESS CORP., a California corporation ("Tenant"), for the premises located in
the City of San Diego, County of San Diego, State of California, commonly known
as 9853 Pacific Heights Boulevard, Suite N located at the Sorrento Mesa Business
Center (the "Premises").

                                      WITNESSETH:

         WHEREAS, Landlord and Tenant entered into that certain Lease dated
March 16, 2005 (hereinafter collectively referred to as the "Lease"); and

         WHEREAS, Landlord and Tenant desire to amend the Lease as more fully
set forth below.

         NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties agree as follows:

    Definitions. Unless otherwise specifically set forth herein, ail capitalized
    terms herein shall have the same meaning as set forth in the Lease.

    Building. The Building address, 9853 Pacific Heights Boulevard, Suite N, on
    the Reference Pages of the Basic Lease Information and Definitions shall be
    amended to reflect the new address of the building containing the Relocation
    Premises to be 9823 Pacific Heights Boulevard, Suite J, San Diego, CA 92121.

    Premises. The Premises on the Reference Pages of the Basic Lease Information
    and Definitions shall be deleted entirely and the following substituted
    therefore:

        9823 Pacific Heights Boulevard, Suite J consisting of approximately
        3,791 rentable square feet (the "Relocation Premises"). See attached
        Exhibit "A" to this amendment detailing the proposed premises.

    Tenant's Share. Tenant's Proportionate Share of the Property shall be
    amended to reflect a 2.52%. Tenant shall continue to pay its share of the
    Operating Expenses

                                   Page 1 of 3
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    based on the revised Tenant Share of 2.52% through the termination date of
    the amended Lease Term.

    Relocation Commencement Date. The Commencement Date of the Lease shall be
    July .1, 2006.

    Term. The Term of the Lease on the Reference Pages shall be amended to
    reflect the revised term of 24 months with an estimated Termination Date of
    May 31, 2008_

    Basic Rent. The Base Rent on the Reference Pages shall be amended to be in
    accordance with the following schedule:

           July 1, 2006 through June 30, 2007 shall be $3,980.55 per month
           July I, 2007 through June 30, 2008 shall be $4,170.10 per month

    Initial Estimate of Monthly Installment of Rent Adjustments. Tenant's
    Initial Estimate of Monthly Installment of Rent Adjustments on the Reference
    Pages shall be deleted entirely and replaced with the estimated revised
    amount of $909.84 per month.

    Security Deposit. The current Security Deposit of $1,824.00 shall be
    increased by $2,346.10 to equal the last month's rent of $4,170.10 and shall
    remain on account throughout the term set forth in this Amendment.

    Tenant's Authority (OFAC). If Tenant signs as a corporation, partnership,
    trust or other legal entity each of the persons executing this Lease on
    behalf of Tenant represents and warrants that Tenant has been and is
    qualified to do business in the state in which the Building is located, that
    the entity has full right and authority to enter into this Lease, and that
    all persons signing on behalf of the entity were authorized to do so by
    appropriate actions.

    Tenant hereby represents and warrants that neither Tenant, nor any persons
    or entities holding any legal or beneficial interest whatsoever in Tenant,
    are (i) the target of any sanctions program that is established by Executive
    Order of the President or published by the Office of Foreign Assets Control,
    U.S. Department of the Treasury ("OFAC"); (ii) designated by the President
    or OFAC pursuant to the Trading with the Enemy Act, 50 U.S.C. App. ss. 5,
    the International Emergency Economic Powers Act, 50 U.S.C. ss.ss. 1701-06,
    the Patriot Act, Public Law 107-56, Executive Order 13224 (September 23,
    2001) or any Executive Order of the President issued pursuant to such
    statutes; or (iii) named on the following list that is published by OFAC:
    "List of Specially Designated

                                   Page 2 of 3
<PAGE>

    Nationals and Blocked Persons." If the foregoing representation is untrue at
    any time during the Term, an Event of Default will be deemed to have
    occurred, without the necessity of notice to Tenant.

         IN WITNESS WHEREOF, Landlord and Tenant have executed the Amendment as
of the day and year first written above.

LANDLORD:                                    TENANT:

MP SORRENTO MESA, LLC                        FRANKLIN WIRELESS CORP.
a Delaware limited liability company         a California corporation

By: RREEF Management Company,                By /s/ OC Kim
a Delaware corporation                          ----------
By /s/ Peter Lloyd                           Name: Ok Chae Kim
   ---------------                           Title: President
Name: Peter Lloyd
Title:  Regional Director/Vice President
Date: 5/20/06                                Date: 5/24/06<PAGE>

                                                                    Exhibit 10.4

                            Stock Repurchase Agreement

     This Stock Repurchase Agreement ("Agreement") is entered into on May 5,
2006 between Hajin Jhun ("Jhun") and Franklin Wireless Corp ("Franklin"). Jhun
desires to sell, and Franklin desires to purchase, the 20,000,000 shares of
Franklin Common Stock which. Jhun was purchased.

     NOW THEREFORE, the parties hereto agree as follows:

     1. Jhun agrees to reconvey to Franklin, and waiver any rights of ownership
     in, the 20,000,000 shares of Franklin Common Stock which he owned.

     2. In consideration for the agreements and representations set forth in
     paragraph 1, above, Franklin agrees to pay to Jhun the sum of One Hundred
     Thousand Dollar(s) ($100,000.00). This sum being calculated at 20,000,000
     shares times $0.005 per share. Jhun acknowledges receipt of these funds,
     and agrees that they constitute adequate consideration for those agreements
     and representations.

     3. Jhun warrants that he has the full power and authority to enter into
     this Agreement and to carry out is terms and that it has not previously
     assigned, sold, or otherwise pledged or encumbered any right, title or
     interest in the Franklin Common Stock referred to above. Jhun acknowledges
     that he has the right to legal counsel, and that he has executed this
     Agreement upon his own independent judgment and without any representation,
     express or implied, of any kind of nature from any other party. Jhun agrees
     to execute such additional documents and take such additional actions as
     are reasonably necessary to effectuate the purpose of this Agreement.

     IN WITHNESS WHEREOF, the parties hereto have executed this Agreement as of
the date set forth above.

     /s/ Hajin Jhun  Dated: May 5, 2006
     --------------

     /s/ OC Kim
     ----------
     Franklin Wireless Corp. Dated  5/15/06exv10w6

 

Exhibit 10.6

FIFTH AMENDMENT TO CREDIT AGREEMENT

     THIS FIFTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of June 28,
2006, is by and among MediaNews Group, Inc. (the “Borrower”), the guarantors identified on
the signature pages hereto (the “Guarantors”), the Lenders parties hereto and Bank of
America, N.A., and administrative agent for the Lenders (in such capacity, the “Administrative
Agent”).

RECITALS

     A. The Borrower, the Guarantors, the Lenders and the Administrative Agent entered into that
certain Credit Agreement dated as of December 30, 2003, as amended pursuant to First Amendment to
Credit Agreement dated as of January 20, 2004, as further amended pursuant to Second Amendment to
Credit Agreement dated as of April 16, 2004, as further amended pursuant to Third Amendment to
Credit Agreement dated as of August 30, 2004 and as further amended pursuant to Fourth Amendment to
Credit Agreement dated as of September 8, 2005 (as previously amended, the “Existing Credit
Agreement”). Capitalized terms used herein which are not defined herein and which are defined
in the Existing Credit Agreement shall have the same meanings as therein defined.

     B. The Loan Parties have requested that certain provisions of the Existing Credit Agreement be
amended; and

     C. The parties hereto have agreed to amend the Existing Credit Agreement as set forth herein.

     NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good
and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties
hereto agree as follows:

AGREEMENT

     1. Amendments to Existing Credit Agreement. Effective upon satisfaction of the
conditions precedent set forth in Section 2 below, the Existing Credit Agreement is hereby
amended as follows:

     (A) The definition of “Operating Cash Flow” appearing in Section 1.01 of the
Existing Credit Agreement is hereby amended and restated in its entirety to read as follows

     “Consolidated Operating Cash Flow” means, as of any date of
determination with respect to the Borrower and its Restricted Subsidiaries on a
consolidated basis, the following, with respect to the immediately preceding four
fiscal quarters of the Borrower for which the Required Financial Information has
been delivered: (A) revenues minus (B) the sum of (i) cost of sales, (ii)
management fees, (iii) regularly scheduled payments in respect of the Denver
Synthetic Lease and (iv) selling, general and administrative expenses (other than
non-cash expenses accrued under employee compensation and stock ownership plans and
post-retirement executive medical plans) for such period plus (C) dividends
or other distributions received in cash from any Person (other than a JOA or the
Salt Lake Printer Entity) not constituting a Restricted Subsidiary hereunder for
such period plus (D) severance expenses for such period not to exceed (i)
$250,000 for the fiscal quarter ended September 30, 2005, (ii) $135,000 for the fiscal quarter
ended December 31, 2005, (iii) $135,000 for fiscal quarter ended March 31, 2006,

 

 

(iv) $1,335,000 for the fiscal quarter ended June 30, 2006 and (v) $500,000 for the
fiscal quarter ended September 30, 2006.

     (B) The second paragraph of Section 4.01 of the Existing Credit Agreement is
hereby amended and restated in its entirety to read as follows:

     Notwithstanding any provision to the contrary contained herein or in any other
of the Loan Documents or Swap Contracts, (a) the obligations of each Guarantor under
this Agreement and the other Loan Documents shall be limited to an aggregate amount
equal to the largest amount that would not render such obligations subject to
avoidance under the Debtor Relief Laws or any comparable provisions of any
applicable state law, (b) the liability of Los Angeles Daily News pursuant to this
Article IV shall be limited to the maximum amount permitted under the
Greenco Option Agreement as in effect on the Closing Date and (c) prior to the time,
if any, that the California Partnership, TNMP, MNG/Power One Media Holding Company,
Inc., the Salt Lake JOA, Utah Media Partners, LLC or any of their respective
Subsidiaries (including Persons which become Subsidiaries after the Closing Date
pursuant to a Permitted Investment) becomes a Wholly Owned Subsidiary, such Person
shall not be required to Guarantee all or any portion of the Obligations (or enter
into a Pledge Agreement).

     (C) Section 8.19(a) of the Existing Credit Agreement is hereby amended and
restated in its entirety to read as follows:

     (a) Consolidated Total Leverage Ratio. Permit the Consolidated Total
Leverage Ratio at any time during a period set forth below to be greater than the
ratio set forth opposite such period:

	 	 	 
	Period	 
	Ratio
	Closing Date through June 30, 2004
	 	6.00 to 1.0
	July 1, 2004 through June 30, 2005
	 	5.75 to 1.0
	July 1, 2005 through December 31, 2006
	 	5.50 to 1.0
	January 1, 2007 through June 30, 2007
	 	5.25 to 1.0
	July 1, 2007 through June 30, 2008
	 	5.00 to 1.0
	Thereafter
	 	4.50 to 1.0

     (D) Section 8.21 of the Existing Credit Agreement is hereby amended and
restated in its entirety to read as follows:

     After the Closing Date, acquire any interest in, or enter into, any JOA (other
than the New Salt Lake JOA and Utah Media Partners, LLC, interests in which need not
be pledged pursuant to Section 7.04) or the Salt Lake Printer Entity unless
(a) the Capital Stock thereof or other interests therein shall be pledged pursuant
to the Collateral Documents or (b) the Capital Stock thereof or other interests
therein shall be owned directly by a newly formed corporation or limited liability
company that (i) shall have no assets other than its interest in such JOA or the
Salt Lake Printer Entity, (ii) shall have no
other liabilities other than its obligations as a Guarantor hereunder and as a
holder of its interest in such JOA or the Salt Lake Printer Entity and (iii) shall
have become a Guarantor pursuant to Section 7.04 and the Borrower and its
Restricted Subsidiaries shall have granted a security interest in its interest in
their Capital Stock in such newly formed

2

 

corporation or limited liability company to
the Administrative Agent, for the benefit of the Lenders, in each case, accordance
with Section 7.08.

     2. Conditions Precedent. This Amendment shall become effective as of the date hereof
upon satisfaction of the following conditions precedent:

     (A) Counterparts of Amendment. The Administrative Agent shall have received
counterparts of this Amendment, which collectively shall have been duly executed on behalf
of each of the Borrower, the Guarantors, and the Required Lenders.

     (B) Payment of Fees and Expenses. The Borrower shall have paid all fees
required to be paid to BAS in connection with this Amendment and all Attorney Costs of the
Administrative Agent to the extent invoiced prior to or on the date hereof.

     3. Representations and Warranties. The Borrower hereby represents and warrants to the
Administrative Agent and the Lenders that, after giving effect to this Amendment, (a) the
representations and warranties set forth in Article VI of the Existing Credit Agreement
are, subject to the limitations set forth therein, true and correct in all material respects as of
the date hereof (except for those which expressly relate to an earlier date) and (b) no Default or
Event of Default exists under the Existing Credit Agreement or any of the other Loan Documents.

     4. Reaffirmation of Obligations. Each Loan Party hereby ratifies the Existing Credit
Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Existing Credit
Agreement applicable to it and (b) that it is responsible for the observance and full performance
of its respective Obligations. Without limiting the generality of the foregoing sentence, each of
the Guarantors hereby (x) jointly and severally reaffirms and ratifies its guaranty of the
Obligations pursuant to Article IV of the Existing Credit Agreement, and (y) jointly and
severally reaffirms and ratifies all agreements set forth in such Collateral Documents securing
such guaranty, all of which shall in all respects remain in full force and effect and shall
continue to guarantee and secure any and all of the Obligations, whether now existing or hereafter
arising, on the same terms and conditions as are now set forth in such Collateral Documents.

     5. References in Other Loan Documents. At such time as this Amendment shall become
effective pursuant to the terms of Section 2 above, all references in the Loan Documents to the
“Credit Agreement” shall be deemed to refer to the Existing Credit Agreement as amended by this
Amendment.

     6. Counterparts/Telecopy. This Amendment may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original and all of which shall
constitute together but one and the same agreement. This Amendment may be transmitted and/or
signed by facsimile. The effectiveness of any such documents
and signatures shall, subject to applicable Law, have the same force and effect as manually
signed originals and shall be binding on all Loan Parties, the Administrative Agent and the
Lenders. The Administrative Agent may also require that any such documents and signatures be
confirmed by a manually signed original thereof; provided, however, that the
failure to request or deliver the same shall not limit the effectiveness of any facsimile document
or signature.

     7. Governing Law. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK.

3

 

     8. Successors and Assigns. This Amendment shall be binding upon and inure to the
benefit of the parties hereto and their respective successors and assigns.

4

 

     IN WITNESS WHEREOF the Borrower, the Guarantors and the Required Lenders have caused this
Amendment to be duly executed on the date first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	BORROWER:	 	MEDIANEWS GROUP, INC.,	 	 
	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ronald A. Mayo	 	 
	 

	 	 	 	 
	 	 
	 	 	Name: Ronald A. Mayo	 	 
	 	 	Title: Vice President and Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	GUARANTORS:	 	ALASKA BROADCASTING COMPANY, INC.,

an Alaska corporation

CHARLESTON PUBLISHING COMPANY,

a Delaware corporation

CONNECTICUT NEWSPAPERS PUBLISHING COMPANY,

a Delaware corporation

THE DENVER POST CORPORATION,

a Delaware corporation

THE DETROIT NEWS, INC.,

a Michigan corporation

EASTERN COLORADO PRODUCTION FACILITIES, INC.,

a Delaware corporation

EASTERN COLORADO PUBLISHING COMPANY,

a Delaware corporation

FITCHBURG INTERNET MEDIA PUBLISHING COMPANY, INC.,

a Delaware corporation

GRAHAM NEWSPAPERS, INC.,

a Delaware corporation

KEARNS-TRIBUNE, LLC,

a Delaware limited liability company

LONG BEACH PUBLISHING COMPANY,

a Delaware corporation

LOS ANGELES DAILY NEWS PUBLISHING COMPANY,

a Delaware corporation

LOWELL INTERNET MEDIA PUBLISHING COMPANY, INC.,

a Delaware corporation

LOWELL PUBLISHING COMPANY,

a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ronald A. Mayo	 	 
	 

	 	 	 	 
	 	 
	 	 	Name: Ronald A. Mayo	 	 
	 	 	Title: Vice President and Chief Financial Officer	 	 

1

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	MEDIANEWS GROUP INTERACTIVE, INC.,

a Delaware corporation

MEDIANEWS SERVICES, INC.,

a Delaware corporation

NEW ENGLAND INTERNET MEDIA PUBLISHING, INC.,

a Delaware corporation

NEW ENGLAND NEWSPAPERS, INC.,

a Delaware corporation

TNP PUBLISHING LLC,

a Delaware limited liability company

NIMITZ PAPER COMPANY,

a Delaware corporation

NORTHWEST NEW MEXICO PUBLISHING COMPANY,

a Delaware corporation

RATE WATCH, INC.,

a Delaware corporation

UTAH MEDIA, INC.,

a Delaware corporation

WEST COAST MEDIANEWS LLC,

a Delaware limited liability company
	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Ronald A. Mayo	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Ronald A. Mayo	 	 
	 	 	Title: Vice President and Chief Financial Officer	 	 

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