Company: AEMD
Filing Date: 2025-06-26
Form Type: 10-K
Source: 0001683168-25-004780
Chunk: 1299

Company: AETHLON MEDICAL INC
Filing Date: 2025-06-26
Form: 10-K
Item: Item 9
Chunk 1299
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 respect to the fiscal
year ended March 31, 2025, we approved a cash bonus of $50,000 to our Chief Medical Officer. We did not approve any annual cash incentives
for our named executive officers.

Equity-Based Incentive Awards

Individual stock option grants
are determined based on a number of factors, including current corporate and individual performance, outstanding equity holdings and their
retention value and total ownership, historical value of our stock, internal equity amongst executives and market data provided by Anderson.
In the fiscal year ended March 31, 2025, we did not approve any equity-based incentive awards for our named executive officers.

Granting of Certain Equity Awards Close in
Time to the Release of Material Nonpublic Information

We do not grant equity awards
in anticipation of the release of material nonpublic information that is likely to result in changes to the price of our common stock,
and do not time the public release of such information based on award grant dates. Other than our RSU grants in every April to our independent
directors, we have not made any awards to any named executive officer or employee during the past two fiscal years.

Employment and Separation Agreements

On December 12, 2018, we entered
into an executive employment agreement with Mr. Frakes, which was amended in November 2023 and currently governs the terms of his employment.
Effective November 7, 2023, in connection with his appointment as Interim Chief Executive Officer, the Board of Directors increased Mr.
Frakes’ annual base salary to $500,000. On October 3, 2024, Mr. Frakes was appointed as our permanent Chief Executive Officer. He
will also continue to serve as Chief Financial Officer.

The agreement also provides
that Mr. Frakes is eligible to receive an annual cash performance bonus, based on the achievement of individual and company performance
objectives to be established annually by the Board of Directors or its Compensation Committee. The decision to award a bonus, and the
amount, is at the discretion of the Board of Directors or the Compensation Committee.

In the event Mr. Frakes’
employment 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