<SEC-DOCUMENT>0001019687-14-001271.txt : 20140404
<SEC-HEADER>0001019687-14-001271.hdr.sgml : 20140404
<ACCEPTANCE-DATETIME>20140404164651
ACCESSION NUMBER:		0001019687-14-001271
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140331
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140404
DATE AS OF CHANGE:		20140404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AETHLON MEDICAL INC
		CENTRAL INDEX KEY:			0000882291
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				133632859
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21846
		FILM NUMBER:		14746515

	BUSINESS ADDRESS:	
		STREET 1:		8910 UNIVERSITY CENTER LANE, SUITE 660
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92122
		BUSINESS PHONE:		858-459-7800

	MAIL ADDRESS:	
		STREET 1:		8910 UNIVERSITY CENTER LANE, SUITE 660
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92122

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BISHOP EQUITIES INC
		DATE OF NAME CHANGE:	19930602
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>aethlon_8k-033114.htm
<DESCRIPTION>CURRENT REPORT ON FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section&nbsp;13 or 15(d)&nbsp;of
the Securities Exchange Act of 1934</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):
March 31, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AETHLON MEDICAL, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Nevada</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">of incorporation)</P></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 30%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">000-21846</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Commission File Number)</P></TD>
    <TD STYLE="vertical-align: bottom; width: 5%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 30%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">13-3632859</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Identification Number)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="vertical-align: top; width: 55%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">8910 University Center Lane, Suite 660</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">San Diego, California</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices)</P></TD>
    <TD STYLE="vertical-align: bottom; width: 3%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 42%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">92122</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Zip Code)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: (858) 459-7800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Not applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed since
last report.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2 below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="vertical-align: top; width: 2%"><FONT STYLE="font-family: Wingdings">&#111;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 97%"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#111;</FONT>&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#111;</FONT>&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#111;</FONT>&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">FORWARD-LOOKING STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Form 8-K and other reports filed by Registrant
from time to time with the Securities and Exchange Commission (collectively, the &quot;Filings&quot;) contain or may contain forward-looking
statements and information that are based upon beliefs of, and information currently available to, Registrant's management as well
as estimates and assumptions made by Registrant's management. When used in the Filings the words &quot;anticipate,&rdquo; &quot;believe,&quot;
&quot;estimate,&quot; &quot;<FONT STYLE="font-size: 10pt">expect</FONT>,&quot; &quot;future,&quot; &quot;intend,&quot; &quot;plan&quot;
or the negative of these terms and similar expressions as they relate to Registrant or Registrant's management identify forward-looking
statements. Such statements reflect the current view of Registrant with respect to future events and are subject to risks, uncertainties,
assumptions and other factors relating to Registrant's industry, Registrant's operations and results of operations and any businesses
that may be acquired by Registrant. Should one or more of these risks or uncertainties materialize, or should the underlying assumptions
prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Although Registrant believes that the expectations
reflected in the forward-looking statements are reasonable, Registrant cannot guarantee future results, levels of activity, performance
or achievements. Except as required by applicable law, including the securities laws of the <FONT STYLE="font-size: 10pt">United</FONT>
States, Registrant does not intend to update any of the forward-looking statements to conform these statements to actual results.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px"><FONT STYLE="font-size: 10pt; font-weight: normal">ITEM 1.01</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; font-weight: normal">ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On March 31, 2014, Aethlon Medical, Inc. (&ldquo;Registrant&rdquo;
or the &ldquo;Company&rdquo;) entered into separate Amendments to Convertible Notes and Warrants (collectively, the &ldquo;Amendments&rdquo;)
with three accredited investors (collectively, the &ldquo;Investors&rdquo;) who own certain convertible promissory notes (collectively,
the &ldquo;Notes&rdquo;) and warrants (collectively, the &ldquo;Warrants&rdquo;) previously issued by the Company on various dates
between December 5, 2007 and September 23, 2011. The issuances of the Notes and Warrants were previously reported by the Company
on Current Reports on Form 8-K dated December 11, 2007, August 25, 2009, September 3, 2010, April 7, 2011 and September 28, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Prior to the Amendments, the Notes were past
maturity and were in default, resulting in the accrual of interest at the applicable default interest rate. The Amendments extended
the maturity date of each of the Notes to April 1, 2016, which permits the Company to classify them as long-term liabilities. As
a result of the Amendments, the Notes are no longer in default and the non-default interest rate for all of the Notes was set at
twelve percent (12%) per annum, which represents a reduction from the default interest rates of fifteen percent (15%) and eighteen
percent (18%) at which interest had been accruing. By entering into the Amendments, the Company also agreed to increase the currently
outstanding principal amount of the Notes by 12% from a total of $693,260 to a total of $776,451.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">During the period from October 2011 to February
2014, the Investors had converted, at conversion prices between $.0546 and $.07 per share, portions of principal and interest outstanding
under the Notes and certain other convertible promissory notes previously issued to them by the Company. Certain antidilution provisions
applicable to such notes should have resulted in such conversions being effected at a conversion price of $.042 per share. Accordingly,
pursuant to the Amendments, the Company issued to the investors an aggregate of 4,507,105 shares of the Company&rsquo;s Common
Stock, which represents the additional shares of Common Stock that would have been issued to the Investors had such conversions
been effected at $.042 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Amendments also provide that if all of the
Company&rsquo;s currently outstanding promissory notes and warrants that contain antidilution adjustment provisions (other than
the Investors&rsquo; Notes and Warrants) are amended to remove, or the holders thereof waive, such provisions, then any similar
antidilution provisions in the Investors&rsquo; Notes and Warrants will automatically be deemed removed. In addition, for so long
as the Investors&rsquo; Notes and Warrants are outstanding, the Company will not be permitted to issue any Common Stock or Common
Stock equivalents (or modify, with equivalent effect, any outstanding Common Stock or Common Stock equivalents) at a lower price
than the then-current conversion price of the Notes and exercise price of the Warrants (with certain issuances to be excepted from
this general provision). If the Company's other note and warrant holders agree to waive the antidilution provisions of their securities
on the same basis as agreed to by the Investors, then the Company will no longer be required to report a derivative liability in
its financial statements with the accompanying quarterly adjustments to its financial statements and will transfer the amount shown
as a derivative liability to equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Amendments also set the conversion price
of the Notes, as well as the exercise price at which shares of the Company&rsquo;s Common Stock can be purchased under the Warrants,
at $.042 per share. By virtue of the Amendments, the expiration dates of the Warrants also were extended from dates between September
3, 2015 and September 23, 2016 to January 1, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The foregoing description of the Amendments
does not purport to be complete and is qualified in its entirely by the form of Amendment of Convertible Notes and Warrants attached
hereto as Exhibit 10.1, which is incorporated herein by reference.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px"><FONT STYLE="font-size: 10pt; font-weight: normal">ITEM 2.03</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; font-weight: normal">CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The information set forth under Item 1.01 of
this report is incorporated by this reference into this Item 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px"><FONT STYLE="font-size: 10pt; font-weight: normal">ITEM 3.02</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; font-weight: normal">UNREGISTERED SALES OF EQUITY SECURITIES.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The information set forth under Item 1.01 of
this report is incorporated by this reference into this Item 3.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 72px"><FONT STYLE="font-size: 10pt; font-weight: normal">ITEM 9.01</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; font-weight: normal">FINANCIAL STATEMENTS AND EXHIBITS.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Exhibit No.</FONT></TD>
    <TD STYLE="width: 88%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Form of Amendment to Convertible Notes and Warrants dated March 31, 2014</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 46%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 48%"><FONT STYLE="font-size: 10pt">&nbsp;AETHLON MEDICAL, INC.</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: white 3pt solid">&nbsp;</TD>
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    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By:&nbsp;<U>/s/ James B. Frakes</U></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">James B. Frakes</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Dated: April 4, 2014</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>aethlon_ex1001.htm
<DESCRIPTION>FORM OF AMENDMENT
<TEXT>
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<P STYLE="margin: 0">Exhibit 10.1</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">FORM OF </P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">AMENDMENT TO</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">AETHLON MEDICAL, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CONVERTIBLE NOTES AND WARRANTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Convertible Promissory Notes (the &ldquo;Notes&rdquo;)
and Common Stock Purchase Warrants (the &ldquo;Warrants&rdquo;) set forth on <B>Schedule A</B> hereto, issued by Aethlon Medical,
Inc., a Nevada corporation (the &ldquo;Company&rdquo;), to _______________ (the &ldquo;Holder&rdquo;), hereby are amended as set
forth herein:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The parties hereto agree
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">1.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">All defined terms not otherwise defined herein shall have the meanings ascribed to
them in the Notes or Warrants, as applicable.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">2.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The term &ldquo;Maturity Date,&rdquo; as defined in each of the Notes, shall mean
April 1, 2016.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">3.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The non-default rate of interest that shall be payable under each of the Notes shall
be twelve percent (12%) per annum.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">4.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The principal amount of each of the Notes shall be increased to the amount calculated
by multiplying (x) the principal amount outstanding immediately prior to the effectiveness of this Amendment by (y) 1.12.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">5.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">In the event that the Company intends to pay in cash, on or after the Maturity Date
(as redefined in Section 2 above), any amount owing under a Note, the Company shall provide five (5) days&rsquo; prior written
notice of such intent (the &ldquo;Payment Notice&rdquo;) to the Holder. The Payment Notice shall include proof of funds and confirmation
of the Company&rsquo;s ability to pay the amount stated in the Payment Notice and shall provide for payment to the Holder, ______________
and ____________________ on a pro rata basis. The Company shall not issue a Payment Notice at any time during which an Event of
Default (as defined in the Notes), other than a failure to pay principal and interest due at the Maturity Date, shall have occurred
and remains outstanding. The Holder shall have the option, exercisable on one occasion by written notice delivered to the Company
within five (5) days after the Holder&rsquo;s receipt of the Payment Notice, to extend the Maturity Date to the later of (x) July
1, 2016 and (y) the date that is three (3) months following the date of the Holder&rsquo;s receipt of the Payment Notice. In the
event that the Holder exercises such option, thereafter the Company shall not make any payment on such Note prior to the Maturity
Date, as extended. Further, the Holder&rsquo;s right to convert the Note, at the Holder&rsquo;s election, shall continue in full
effect during such extended period.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">6.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">In connection with any conversions under the Notes effected by the Holder during the
period from October 1, 2011 through the effective date hereof, the Company shall issue to the Holder that number of shares of
the Company&rsquo;s Common Stock, par value $.001 per share (the &ldquo;Common Stock&rdquo;), equal to the difference between
(x) that number of shares of Common Stock that were issued to the Holder upon such conversion and (y) that number of shares of
Common Stock that would have been issuable to the Holder if such conversion had been effected at a conversion price of $.042 per
share. As of the date hereof, in accordance with the foregoing formula, the Holder is entitled to be issued an aggregate of ______________
shares of Common Stock, which shall be issued promptly after execution of this Amendment.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">7.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The &ldquo;Conversion Price,&rdquo; as defined in each of the Notes, shall be $.042
per share, subject to further adjustment as provided in each such Note.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">&nbsp;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">8.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The &ldquo;Expiration Date,&rdquo; as defined in each of the Warrants, shall be January
1, 2017.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">&nbsp;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">9.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The &ldquo;Purchase Price,&rdquo; as defined in each of the Warrants, shall be $.042
per share, subject to further adjustment as provided in each such Warrant.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">&nbsp;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">10.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">In the event that all outstanding promissory notes and warrants issued by the Company
to the persons listed on <B>Schedule B</B> hereto shall have been amended to remove, or the holders thereof shall have waived,
any provisions contained therein which would act to reduce the conversion or exercise price of such notes or warrants if the Company
were to issue any Common Stock, other than Excepted Issuances (as defined in the subscription agreement under which the applicable
Note or Warrant was purchased), at a price below such conversion or exercise price, then any similar anti-dilution protection
to which the then-outstanding Notes and Warrants are subject shall automatically be deemed removed and, until such Notes and Warrants
are no longer outstanding, the Company shall be prohibited from issuing any Common Stock or securities convertible into or exercisable
for shares of Common Stock (&ldquo;Common Stock Equivalents&rdquo;) (or modifying, with equivalent effect, any of the foregoing
that may be outstanding), other than Excepted Issuances, at a price below the Conversion Price of such Notes and Purchase Price
of such Warrants. Other than those issued to the persons listed on <B>Schedule B</B> hereto, there are no other outstanding promissory
notes or warrants or Common Stock Equivalents with provisions that would act to reduce the conversion or exercise price of such
notes or warrants or Common Stock Equivalents if the Company were to issue any Common Stock, other than Excepted Issuances, at
a price below such conversion or exercise price.</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">&nbsp;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">11.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The Company represents and warrants that, assuming that all other relevant conditions
to reliance on Rule 144 under the Securities Act of 1933, as amended, have been satisfied, the holding period, for Rule 144 purposes,
of the shares of Common Stock issuable upon conversion of any principal and interest due under the Notes, other than any shares
issuable upon conversion of that portion of the Notes that represents the increase set forth in Section 4 hereof, will tack back
to the original issuance date of the applicable Note and that the holding period, for Rule 144 purposes, of the shares of Common
Stock issuable under Section 6 hereof similarly will tack back to the original issuance date of the applicable Note. The Company
further covenants that it will not take a position contrary to this Section 11 and agrees that taking such contrary position will
be an Event of Default under the Notes.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">&nbsp;</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">&nbsp;</TD>
</TR></TABLE>



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">12.</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">The effective date of the foregoing amendments to the Notes and the Warrants is March
31, 2014. The Company acknowledges that the Holder has not waived any rights except for those specifically waived herein and that
the Holder reserves all such non-waived rights, including anti-dilution rights and remedies upon the occurrence of an Event of
Default not waived in this Amendment. Except as expressly set forth herein, all other terms of the Notes and the Warrants shall
remain in full force and effect without modification, amendment or restatement.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><I>[Signature page follows]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF,</B>
the Company has caused this Amendment to be executed by it duly authorized officer on the 31st day of March, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">AETHLON MEDICAL, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">By: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">James B. Frakes</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Accepted and agreed to by the Holder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By: &#9;________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Name:&#9;________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Title:&#9;________________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">________________________</P>

<P STYLE="margin: 0">________________________</P>

<P STYLE="margin: 0">________________________</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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