Document:

Exhibit 10.5

 

THIRD AMENDMENT TO STANDARD INDUSTRIAL
NET LEASE

(Sorrento Business Complex)

 

THIS THIRD AMENDMENT
TO STANDARD INDUSTRIAL NEXT LEASE ("Third Amendment") is made and entered into as of the 21st day of October,
2015, by and between AGP SORRENTO BUSINESS COMPLEX, L.P., a Delaware limited partnership ("Landlord") and AETHLON
MEDICAL, INC., a Nevada corporation ("Tenant").

 

R E C I T A L S:

 

A.           Sorrento
Business Complex, a California limited partnership ("Original Landlord") and Tenant entered into that certain
Standard Industrial Net Lease dated as of September 28, 2009 (the "Original Lease"), as modified by (i) that
certain First Amendment to Standard Industrial Net Lease dated as of October 4, 2011 by and between Original Landlord and
Tenant ("First Amendment") and (ii) that certain Second Amendment to Standard Industrial Net Lease dated
as of October 10, 2014 by and between Landlord and Tenant (the "Second Amendment"), whereby Landlord leases
to Tenant and Tenant leases from Landlord certain office space located in that certain building located and addressed at 11585
Sorrento Valley Road, San Diego, California 92121 (the "Building"). Landlord is the successor-in-interest under
the Lease to the Original Landlord. The Original Lease, as modified by the First Amendment and the Second Amendment, may be referred
to herein as the "Lease."

 

B.           By
this Third Amendment, Landlord and Tenant desire to extend the Lease Term and otherwise modify the Lease as provided herein.

 

C.           Unless
otherwise defined herein, capitalized terms as used herein shall have the same meanings as given thereto in the Lease.

 

NOW, THEREFORE, in
consideration of the foregoing recitals and the mutual covenants contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

A G R E E M E N T:

 

1.           Premises.
Landlord and Tenant hereby agree that pursuant to the Lease, Landlord currently leases to Tenant and Tenant currently leases from
Landlord that certain space within the Building commonly known as Suite 109 containing 1,667 rentable square feet (the "Premises"),
as outlined on Exhibit A to the Original Lease.

 

2.           Extension
of Lease Term. The Lease Term is hereby extended such that the Lease shall terminate on November 30, 2016 (the "Extended
Expiration Date"). The period of time from November 1, 2015 through and including the Extended Expiration Date shall
be referred to herein as the "New Term." Tenant shall not have any right to extend the Lease Term beyond the Extended
Expiration Date.

 

3.           Minimum
Monthly Rent. Notwithstanding anything to the contrary contained in the Lease, during the New Term, Tenant shall pay Minimum
Monthly Rent for the Premises in the amount of Four Thousand One Hundred Sixty-Seven and 50/100 Dollars ($4,167.50), subject to
abatement as set forth in Section 4 below.

 

4.           Minimum
Monthly Rent Abatement. Notwithstanding anything to the contrary set forth herein, and provided that Tenant shall faithfully
perform all of the terms and conditions of the Lease (as amended by this Third Amendment), Landlord hereby agrees to abate Tenant's
obligation to pay Minimum Monthly Rent for the first (1st) month of the New Term (i.e., the month of November,
2015) (the "Abated Rent"). Except for Tenant's obligation to pay Minimum Monthly Rent, during such abatement period,
Tenant shall continue to be responsible for the payment of all other rent amounts which Tenant is required to pay under the Lease.
In the event of a default by Tenant under the terms of Article 21 of the Original Lease which results in early termination
of the Lease, then as a part of the recovery set forth in Article 22 of the Original Lease, Landlord shall be entitled to
the recovery of the Abated Rent which was abated under the provisions of this Section 4 and such Minimum Monthly Rent shall
not be deemed to have been forgiven or abated, but shall become immediately due and payable as unpaid rent which had been earned
at the time of termination.

 

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5.           Security
Deposit. Tenant has previously deposited with Landlord Three Thousand Two Hundred Fifty and 65/100 Dollars ($3,250.65) as a
Security Deposit under the Lease. Landlord shall continue to hold the Security Deposit during the New Term in accordance with the
terms and conditions of Article 5 of the Original Lease.

 

6.           Condition
of Premises. Tenant hereby agrees to accept the Premises in its "as-is" condition and Tenant hereby acknowledges
that Landlord shall not be obligated to provide or pay for any improvement work or services related to the improvement of the Premises.
Tenant also acknowledges that Landlord has made no representation or warranty regarding the condition of the Premises.

 

7.           Authority.
Each individual executing this Third Amendment on behalf of Tenant represents and warrants that Tenant is a duly formed and existing
entity qualified to do business in California and that Tenant has full right and authority to deliver this Third Amendment and
that each person signing on behalf of Tenant is authorized to do so.

 

8.           Brokers.
Each party represents and warrants to the other that no broker, agent or finder other than Jones Lang LaSalle ("Tenant's
Broker") negotiated or was instrumental in negotiating or consummating this Third Amendment. Each party further agrees
to defend, indemnify and hold harmless the other party from and against any claim for commission or finder's fee by any entity
other than Tenant's Broker who claims or alleges that they were retained or engaged by the first party or at the request of such
party in connection with this Third Amendment. The terms of this Section 8 shall survive the expiration or earlier termination
of the term of the Lease, as hereby amended.

 

9.           Disclosures
and Utility Usage Information. Pursuant to Civil Code Section 1938, Landlord states that, as of the date hereof, the Premises
has not undergone inspection by a Certified Access Specialist ("CASp") to determine whether the Premises meet
all applicable construction-related accessibility standards under California Civil Code Section 55.53. If Tenant is billed directly
by a public utility with respect to Tenant's electrical usage at the Premises, upon request, Tenant shall provide monthly electrical
utility usage for the Premises to Landlord for the period of time requested by Landlord (in electronic or paper format) or, at
Landlord's option, provide any written authorization or other documentation required for Landlord to request information regarding
Tenant's electricity usage with respect to the Premises directly from the applicable utility company.

 

10.           Defaults.
Tenant hereby represents and warrants to Landlord that, as of the date of this Third Amendment, Tenant is in full compliance with
all terms, covenants and conditions of the Lease and that there are no breaches or defaults under the Lease by Landlord or Tenant,
and that Tenant knows of no events or circumstances which, given the passage of time, would constitute a default under the Lease
by either Landlord or Tenant.

 

11.           No
Further Modification. Except as set forth in this Third Amendment, all of the terms and provisions of the Lease shall remain
unmodified and in full force and effect.

 

 

 

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF,
this Third Amendment has been executed as of the day and year first above written.

 

	 	LANDLORD:
	 	 
	 	AGP SORRENTO BUSINESS COMPLEX, L.P., a Delaware limited partnership
	 	 
	 	By: 	Parallel Capital Partners, Inc.,
	 	 	a California corporation,
	 	 	its authorized agent
	 	 
	 	 	By: /s/ Jim Ingebretsen
	 	 	Name: Jim Ingebretsen
	 	 	Title: President
	 	 
	 	TENANT:
	 	 
	 	AETHLON MEDICAL, INC.,
	 	a Nevada corporation
	 	 
	 	By: /s/ James A. Joyce
	 	Name: James A. Joyce
	 	Title: Chief Executive Officer
	 	 
	 	By: /s/ James B. Frakes
	 	Name: James B. Frakes
	 	Title: Chief Financial Officer

 

    	3EXHIBIT 10.6

 

AMENDMENT OF TERMS

 

This Amendment of Terms
(this “Amendment”) is entered into effective as of November 12, 2015, by and among Aethlon Medical, Inc., a Nevada
corporation (the “Company”), on the one hand, and Alpha Capital Anstalt (“Alpha”) and Osher Capital Partners,
LLC (“Osher”), on the other hand. Alpha and Osher are referred to herein together as the “Investors.”

 

WHEREAS, the Company and
the Investors are parties to that certain Subscription Agreement dated November 6, 2014 (the “Subscription Agreement”),
pursuant to which the Company issued to the Investors the Convertible Promissory Notes (together, the “Notes,” and
each, a “Note”) and the Class A Common Stock Purchase Warrants (together, the “Warrants,” and each, a “Warrant”)
listed on Schedule A hereto; and

 

WHEREAS, the Company and
the Investors desire to amend certain of the provisions of the Subscription Agreement, the Notes and the Warrants.

 

NOW, THEREFORE, in consideration
of the mutual promises and covenants contained in this Amendment, the parties hereto agree as follows:

 

1.          Reservation of Common Stock. Upon the full execution hereof, any provision in the Subscription Agreement or the Notes
requiring the Company to reserve no less than a specified number of shares of the Company’s authorized and unissued common
stock (the “Common Stock”) with respect to conversion of the Notes (such provisions, the “Suspended Provisions”)
will instead be deemed to require the Company to reserve no less than the number of shares of Common Stock necessary to permit
the Investors to convert all of the outstanding principal under the Notes plus the amount of interest that would accrue on the
Notes through June 1, 2016 at the rate stated in Section 1.1 of the Notes. Upon the earlier to occur of (x) June 1, 2016 and (y)
the amendment of the Company’s Articles of Incorporation to increase the number of authorized shares of Common Stock to a
number of shares sufficient to permit the Company to comply with the Suspended Provisions, this provision will be of no further
effect and the Suspended Provisions in the Subscription Agreement and the Notes will again be in effect.

 

2.          Waiver. Each of the Investors hereby waives any right to receive any increased interest such Investor might assert
it is entitled to receive under such Investor’s Note with respect to any alleged deficiency in the number of shares currently
reserved for issuance under the Notes.

 

3.          Amendment of Osher Warrants. Notwithstanding any provision to the contrary in the Warrants held by Osher, Osher shall
not exercise any portion of its Warrants during the period after the execution hereof and prior to June 1, 2016 (such period of
time, the “Suspension Period”). The “Expiration Date” of each of the Warrants held by Osher shall be extended
by the number of days in the Suspension Period.

 

4.          Extension of Maturity Date. The Maturity Date of each of the Notes is hereby extended from April 1, 2016 to June
1, 2016.

 

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5.          Fee. In connection with the amendment of terms effected hereby, within one business day subsequent to the full execution
of this Amendment, the Company shall pay to Osher, by check or wire transfer, the amount of $90,000. Such payment may be made,
at Osher’s direction, to its U.S. attorney’s trust account pursuant to the wire transfer instructions annexed hereto
as Schedule B. In the event such payment is not timely made, each of Alpha and Osher, for itself by written notice to the
others, may deem such non-payment an Event of Default under the Notes.

 

6.          No Default. Each of the Investors severally and not jointly, and the Company hereby represents and warrants to the
other parties hereto, that after giving effect to the execution of this Agreement, it is not aware of the existence of any Event
of Default by the Company of the Subscription Agreement, the Notes or the Warrants.

 

7.          Miscellaneous.

 

a.          Original Transaction Documents. Except as specifically amended hereby, the Subscription Agreement, the Notes and
the Warrants will remain in full force and effect in accordance with their respective terms.

 

b.          Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be delivered as set forth in Section 13(a) of the Subscription Agreement.

 

c.          Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed will be
deemed to be an original and, all of which taken together will constitute one and the same instrument. Any signature delivered
by facsimile transmission will create a valid binding obligation of the executing party with the same force and effect as if such
facsimile signature were the original thereof.

 

d.          Governing Law. All questions concerning the construction, validity, enforcement, venue, jurisdiction and interpretation
of this Agreement shall be governed by Sections 13(d) and 13(e) of the Subscription Agreement.

 

[Signature page follows]

 

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IN WITNESS WHEREOF, the parties have executed
this Amendment of Terms as of the date first written above.

 

AETHLON MEDICAL, INC.

 

 

 

 

/s/ James Frakes

Name: James Frakes

Title: Chief Financial
Officer

 

 

ALPHA CAPITAL ANSTALT

 

 

 

By:/s/ Konrad Ackermann

Name: Konrad Ackermann

Title: Director

 

 

OSHER CAPITAL PARTNERS, LLC

 

 

 

By: /s/ Ari Kluger

Name:  Ari Kluger

Title: ___________________

 

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SCHEDULE A

 

INVESTOR NOTES AND WARRANTS

 

	Investor	Principal Amount of Note Issued November 6, 2014	Shares of Common Stock Underlying Warrant Issued November 6, 2014
	Alpha Capital Anstalt	$416,500	37,188
	Osher Capital Partners, LLC	$83,500	7,456
	Osher Capital Partners, LLC	$27,780	2,481

 

 

 

 

 

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SCHEDULE B

 

WIRE INSTRUCTIONS

 

 

 

 

 

 

 

 

 

 

 

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