Company: AEMD
Filing Date: 2025-06-26
Form Type: 10-K
Source: 0001683168-25-004780
Chunk: 366

Company: AETHLON MEDICAL INC
Filing Date: 2025-06-26
Form: 10-K
Item: Item 1B
Chunk 366
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 standards, as he serves as an executive
officer of the Company. In reaching its conclusions, our Board of Directors considered all relevant facts and circumstances with respect
to any direct or indirect relationships between our Company and each of the directors, including those discussed under the caption “Certain
Relationships and Related Transactions,” below. Our Board of Directors determined that any relationships that exist or existed in
the past between our Company and each of the independent directors were immaterial on the basis of the information set forth in the above-referenced
sections.

 64 

Audit Committee and Audit Committee Financial
Expert

Our Board of Directors formed
an Audit Committee in May 1999. Our Board of Directors has determined that Mr. Broenniman, due to his professional experience business
acumen and independence, meets the definition of an “audit committee financial expert” as defined in Item 407(d)(5)(ii) under
Regulation S-K, promulgated under the Exchange Act.

Each of the members of the
Audit Committee has a basic understanding of finance and accounting and is able to read and understand fundamental financial statements.
Our Board of Directors has determined that each of the members of the Audit Committee meets the independence requirements applicable to
audit committee members of Nasdaq Capital Market companies. The Audit Committee has the authority to appoint, review and discharge our
independent registered public accounting firm. The Audit Committee reviews the results and scope of the audit and other services provided
by our independent registered public accounting firm, as well as our accounting principles and our system of internal controls, reports
the results of their review to the full Board of Directors and to management and recommends to the full Board of Directors that our audited
consolidated financial statements be included in our Annual Report on Form 10-K.

The Audit Committee has adopted
a charter, which can be found on our website under “Investors – Governance – Governance Documents.” The reference
to or inclusion of our website address in this Amendment No. 1 does not include or incorporate by reference the information on our website
into this Amendment No. 1.

Compensation Committee

The Compensation Committee
approves or makes recommendations to our Board of Directors on decisions concerning compensation of the executive management team and
non-employee directors and administers our stock-based incentive compensation plans. The Chair establishes meeting agendas after consultation
with other committee members. Our Interim Chief Executive Officer and other members of management regularly discuss our compensation issues
with Compensation Committee members. Subject to Compensation Committee review