Exhibit 10.1
AETHLON MEDICAL, INC.
0000 Xxxxxx Xxxx Xxxxxx, Xxxxx 0000
Xxx Xxxxx, Xxxxxxxxxx 00000
July 31, 2008
VIA ELECTRONIC TRANSMISSION
Xx. Xxxxxxx X. Xxxxxx 0000 Xxxxxx Xxxx Xxxxxx
Xxxxx 0000
Xxx Xxxxx, Xxxxxxxxxx 00000
Re: Conversion of Past Due Salary
Dear Ed:
This letter will serve to memorialize and confirm the agreement between
Aethlon Medical, Inc. ("AEMD") and Xxxxxxx X. Xxxxxx ("Xxxxxx" 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 $0.32 per share, the closing price on July 31, 2008. Accordingly,
$150,000 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/ Xxxxx Xxxxx
-------------------------------
By: Xxxxx Xxxxx
Title: Chief Executive Officer
Agreed and Accepted:
/s/ Xxxxxxx X. Xxxxxx
-------------------------
Xx. Xxxxxxx X. Xxxxxx