<PAGE>
EXHIBIT 10.14
                             AETHLON MEDICAL, INC.

                              CONSULTING AGREEMENT

This Consulting Agreement (the "Agreement") is entered into effective as of
October 1, 2003 by and between AETHLON MEDICAL, INC. located at 7825 Fay Avenue,
La Jolla, California 92037 USA, ("Aethlon") and Jean-Claude CHERMANN, PhD (the
"Consultant") located at Centre de Vie Agora, Batiment C, B.P. 1055, Z.I. de
Paluds, 13781 Aubange Cedex, France.

1.       CONSULTING RELATIONSHIP. During the terms of this agreement, the
         Consultant will act as a science advisor in connection with advancing
         the development of Aethlon's HIV-Hemopurifier Technology. The
         Consultant shall use reasonable efforts to provide these services in a
         manner that provides benefit to Aethlon. If the services provided by
         the Consultant under this agreement exceed more than 20 hours per
         month, the Consultant shall request and negotiate additional
         compensation from Aethlon. The Consultant has also agreed to
         participate as a member of Aethlon's Science Advisory Board. In this
         regard, the Consultant shall also receive the compensation that is
         rewarded to each Aethlon Science Advisory Board Member. The Consultant
         also agrees that this relationship provides no rights or interest in
         Aethlon's HIV-Hemopurifier technology.

2.       CONSIDERATION. As consideration of Services to be provided by
         Consultant, Aethlon shall compensate the Consultant at a rate of Three
         Thousand Five Hundred U.S. Dollars ($3,500.00) per month. At the
         discretion of the Aethlon Medical management, the Consultant may also
         be eligible for bonus consideration.

3.       EXPENSES. Consultant shall not be authorized to incur on behalf of
         Aethlon any expenses, without the prior written consent of Aethlon
         Medical

4.       TERMS AND TERMINATION. Consultant shall provide the Services to Aethlon
         on a month-to-month basis until terminated by either party with thirty
         (30) days advance notice.

5.       INDEPENDENT CONTRACTOR. Consultant's relationship with Aethlon will be
         that of independent contractor and not that of an employee. Consultant
         will not be eligible for any employee benefits, nor will Aethlon make
         deductions from payment made to Consultant for taxes, which will be the
         Consultant's responsibility Consultant will have no authority to enter
         into contracts that bind Aethlon or create obligations on the part of
         Aethlon without the prior written authorization of Aethlon.



<PAGE>

6.       MISCELLANEOUS.

         A.       AMENDMENTS AND WAIVERS. Any term of this Agreement may be
                  amended or waived only with the written consent of the
                  parties.

         B.       DISPUTES. The initial attempt to resolve any disputes or claim
                  arising in connection with this Agreement shall first be
                  negotiated between the parties over a glass of wine at the
                  Restaurant Nino in the port of Cassis, France.

         The parties have executed this Agreement as of the date first set forth
above.

AETHLON MEDICAL, INC.

By: /s/ James A. Joyce
    ---------------------------
    Name:  James A Joyce
    Title: Chairman, CEO


CONSULTANT

Jean-Claude CHERMANN, PhD

     /s/ Jean-Claude Chermann, PhD