Aethlon Medical, Inc. and Edward & Linda Broenniman Salary Conversion Agreement (July 28, 2008)

Summary

Aethlon Medical, Inc. and Edward and Linda Broenniman agreed that $147,279 in unpaid salary owed to the Broennimans will be settled by issuing them 446,300 shares of Aethlon Medical common stock at $0.33 per share. After this exchange, the salary debt is considered fully paid and satisfied. The company will file an 8-K to disclose this agreement. Both parties have signed to confirm their acceptance of these terms.

EX-10.1 2 aethlon_8k-ex1001.txt LETTER AGREEMENT Exhibit 10.1 AETHLON MEDICAL, INC. 3030 Bunker Hill Street, Suite 4000 San Diego, California 92109 July 28, 2008 VIA ELECTRONIC TRANSMISSION Mr. Edward G. Broenniman 3030 Bunker Hill Street Suite 4000 San Diego, California 92109 Re: Conversion of Past Due Salary Dear Ed: This letter will serve to memorialize and confirm the agreement between Aethlon Medical, Inc. ("AEMD") and Edward and Linda Broenniman (the "Broennimans" or "you") that in lieu of $147,279 owed to you for unpaid salary, the Company will issue you 446,300 shares of common stock of AEMD. The shares will be issued to you at the price of $0.33 per share, the closing price on July 28, 2008. Accordingly, $147,279 of unpaid salary due to you shall be considered paid in full and satisfied. The conversion arrangement shall be of no further force or effect. AEMD shall issue an 8K describing the conversion agreement between AEMD and you. Kindly acknowledge your agreement with the foregoing, by signing the acknowledgment below and returning a copy of this letter to the Board of Directors of AEMD. Very Truly Yours, Aethlon Medical, Inc. /s/ James Joyce ------------------------------- By: James Joyce Title: Chief Executive Officer Agreed and Accepted: /s/ Edward G. Broenniman - ------------------------- Edward G. Broenniman /s/ Linda A. Broenniman - ----------------------- By: Linda A. Broenniman