Company: AEMD
Filing Date: 2025-06-26
Form Type: 10-K
Source: 0001683168-25-004780
Chunk: 1680

Company: AETHLON MEDICAL INC
Filing Date: 2025-06-26
Form: 10-K
Item: Item 11
Chunk 1680
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 is terminated without cause or he resigns for good reason (as defined in the agreement), he will be entitled to continue receiving
his base salary and company-paid healthcare premiums for 12 months following such termination.

Effective
July 1, 2024, Lee Arnold, Chief Science Officer of the Company, was terminated by the Company. As a result of Mr. Cipriani’s termination,
that executive employment agreement entered into by and between Mr. Arnold and the Company on February 1, 2023, (the “Employment
Agreement”), terminated July 1, 2024. In connection with his departure, Mr. Arnold is entitled to receive twelve months’ severance
and related separation benefits, consistent with the terms of his Employment Agreement.

Effective
October 3, 2024, Guy F. Cipriani, Chief Operating Officer of the Company, has departed the Company. Mr. Cipriani’s departure was
not related to the Company’s financial or operating results or to any disagreements or concerns regarding the Company’s financial
or reporting practices.

As
a result of Mr. Cipriani’s departure, that executive employment agreement entered into by and between Mr. Cipriani and the Company
on January 2, 2021, as amended (the “Employment Agreement”), terminated effective October 3, 2024. In connection with his
departure, Mr. Cipriani is entitled to receive twelve months’ severance and related separation benefits, consistent with the terms
of his Employment Agreement.

On January 4, 2021, we entered
into an executive employment agreement with Dr. LaRosa, which governs the current terms of his employment with us. Dr. LaRosa’s
annual base salary was increased by the Compensation Committee to $430,000, effective May 1, 2021, when Dr. LaRosa assumed the additional
duties of interim Chief Scientific Officer, which he held until February 2023. In addition, we paid Dr. LaRosa a one-time signing bonus
of $100,000. Further, Dr. LaRosa was eligible to receive a grossed-up reimbursement of relocation expenses pursuant to the terms of his
employment agreement. In addition, the agreement provides that Dr. LaRosa is eligible for an annual cash performance bonus for each year
with a target amount of 40% of Dr. LaRosa’s then-current annual base salary, based