X0202 4 2008-02-29 0 0001367083 Oculus Innovative Sciences, Inc. OCLS 0001334682 Alton Gregg H 1129 N MCDOWELL BLVD PETALUMA CA 94954 1 0 0 0 Stock Option (right to buy) 5.66 2008-02-29 4 A 0 50000 5.66 A Common Stock 50000 50000 D Stock option is exercisable with respect to 16,650 shares on the one year anniversary of Mr. Alton's election to the Board, and the remainder in equal monthly installments over the 24 month period following the one-year anniversary. Stock option expires on the earlier of February 29, 2018 or twelve months after termination of the reporting person as s director of the Issuer. /s/ James Schutz as attorney-in-fact 2008-03-03