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| (a) | Incorporation.  This      Agreement incorporates by reference, as if set forth herein in its      entirety and including without limitation all terms, conditions and      provisions set forth therein, the PipeFund Services Organization Standard      Transaction Document labeled GTC 1-10 (General Terms and Conditions)      available and accessible at www.pipefund.com      (“PST Document      GTC”); provided,      however, that to the extent any of the terms, conditions or      provisions of this Agreement (without such incorporation) contradict or      conflict with the terms, conditions or provisions of PST Document GTC,      this Agreement shall control. |
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| (b) | Defined      Terms.  Each initially capitalized term used but not      defined in this Agreement (including PST Document GTC as incorporated      herein pursuant to the preceding Section), and each initially capitalized      term used but not defined in any other Transaction Document, shall have      the meaning ascribed thereto in the PipeFund Services Organization      Standard Transaction Document labeled 1-10 DEF (Definitions) available and      accessible at www.pipefund.com. |
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| (c) | PipeFund Transaction      Code.  This Securities Purchase Agreement shall be known      as “Securities Purchase Agreement#AEMD-10-A”. |
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| (a) | Note.  Convertible      Promissory Note of the Company, in the form attached hereto as Exhibit A      (“Note”), with an      aggregate original principal amount equal to $660,000;  and |
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| (b) | Warrant.  3-year      Warrant, in the form attached hereto as Exhibit B, to      purchase 660,000 Warrant Shares, having an initial exercise price equal to      $0.50. |
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| Aethlon      Medical, Inc.8910      University Center Lane, Suite 660San      Diego, CA 92122Attn:      James A. Joyce, CEOFacsimile:      (858) 272-2738  | With a copy      to:Law      Office of Jennifer A. Post340      North Camden Drive, Suite 302Beverly      Hills, California 90210Attn:      Jennifer A. Post, Esq.Facsimile:      (800) 783–2983 |
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| (a) | No Registration      Rights; Rule 144.  Sections 6.1 through 6.5 of PST      Document GTC are hereby deleted such that the Purchaser shall not have any      registration rights.  The Company acknowledges and agrees that,      for purposes of Rule 144, the holding period for the shares of Common      Stock issuable upon conversion or otherwise pursuant to the Note issued to      the Purchaser shall have commenced on the date of original issuance of the      Note.  After six months following the Closing Date, any and all      shares of Common Stock issued upon conversion of the Note issued to the      Purchaser shall be issued free and clear of any and all legends and      restrictions thereon, provided that the Purchaser is not an Affiliate of      the Company at such time. |
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| (b) | The      Bulletin Board shall be an EligibleMarket. |
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| (c) | Negative      Covenants. So long as the Note is outstanding, without the consent      of the Purchaser, the Company will not, and will not permit any of its      Subsidiaries to, directly orindirectly: |
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| (i)   | amend      its Certificate of Incorporation or Bylaws so as to materially and      adversely affect any rights of the Purchaser (an increase in the amount of      authorized shares and an increase in the number of directors will not be      deemed adverse to the rights of the Purchaser);  or |
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| (ii)   | repay,      repurchase or offer to repay, repurchase or otherwise acquire or make any      dividend or distribution in respect of any of its Common Stock, preferred      stock, or other equity securities other than to the extent permitted or      required under the TransactionDocuments. |
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| x 4.9% | o 9.9% | o Other:      ______% | o None |
|-------------|-------------|----------------------------|-------------|

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| 4.   Address for      Notices:                                                                                                                                                                                                                                                                                                                                                                                                                 | With      a copy to, if any:                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|  ______________________________________________(Name      or c/o Name)______________________________________________(Address)______________________________________________ ______________________________________________(Contact      Name) ______________________________________________(Facsimile) ______________________________________________(Telephone)______________________________________________(Email      Address)  |  ______________________________________________(Name)______________________________________________(Address)______________________________________________ ______________________________________________(Contact      Name) ______________________________________________(Facsimile) ______________________________________________(Telephone) ______________________________________________(Email      Address)  |
| 5.   Residence/Organization      and TIN:                                                                                                                                                                                                                                                                                                                                                                                                 |
| ______________________________________________(State/Jurisdiction      of Primary Residence (for individuals)or      Organization (for entities))                                                                                                                                                                                                                                                                                                             | ______________________________________________(Social      Security or Employer/Tax Identification Number,if      applicable)                                                                                                                                                                                                                                                                                                                      |
|  6.   Special Instructions      Where Securities to Be Delivered:                                                                                                                                                                                                                                                                                                                                                                    |
| For      Common Stock:                                                                                                                                                                                                                                                                                                                                                                                                                                   | For      Other Securities:                                                                                                                                                                                                                                                                                                                                                                                                                    |

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