Document:

Exhibit 10.1

 

AMENDMENT
NO. 2 TO COMMON STOCK SALES AGREEMENT

 

March 30, 2020

 

H.C. Wainwright & Co., LLC

430 Park Avenue

New York, NY 10022

 

Ladies and Gentlemen:

 

Aethlon Medical, Inc.
(the “Company”) and H.C. Wainwright & Co., LLC (“HCW”) are parties to that certain Common
Stock Sales Agreement dated June 28, 2016, as amended on August 5, 2019 (the “Amended Original Agreement”).
All capitalized terms not defined herein shall have the meanings ascribed to them in the Amended Original Agreement. The parties,
intending to be legally bound, hereby amend the Amended Original Agreement as follows:

 

1.           
Reference to the “Registration Statement” in the Amended Original Agreement shall refer to the registration
statement on Form S-3 (File No. 333-237269), originally filed with the Securities and Exchange Commission on March 19, 2020 (as
the same may be amended from time to time, “New Registration Statement”), declared effective by the Securities
and Exchange Commission on March 30, 2020.

 

2.           
All references to “June 28, 2016 (as amended by Amendment No. 1 to Common Stock Sales Agreement, dated August 5, 2019)”
set forth in Schedule 1 and Exhibit 7(m) of the Amended Original Agreement are revised to read “June 28, 2016 (as amended
by Amendment No. 1 to Common Stock Sales Agreement, dated August 5, 2019 and by Amendment No. 2 to Common Stock Sales Agreement,
dated March 30, 2020)”.

 

3.           
Except as specifically set forth herein, all other provisions of the Amended Original Agreement shall remain in full force
and effect.

 

4.           
In connection with this Amendment No. 2 to Common Stock Sales Agreement, the Company shall reimburse HCW for the fees and
expenses of HCW’s counsel, which shall be paid on the date hereof.

 

5.           
Entire Agreement; Amendment; Severability. This Amendment No. 2 to the Amended Original Agreement together with the
Amended Original Agreement (including all schedules and exhibits attached hereto and thereto and Placement Notices issued pursuant
hereto and thereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings,
both written and oral, among the parties hereto with regard to the subject matter hereof. All references in the Amended Original
Agreement to the “Agreement” shall mean the Amended Original Agreement as amended by this Amendment No. 2; provided,
however, that all references to “date of this Agreement” in the Amended Original Agreement shall continue to refer
to the date of the Amended Original Agreement.

 

 

 

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6.           
Applicable Law; Consent to Jurisdiction. This amendment shall be governed by, and construed in accordance with, the
internal laws of the State of New York without regard to the principles of conflicts of laws. Each party hereby irrevocably submits
to the non-exclusive jurisdiction of the state and federal courts sitting in the City of New York, borough of Manhattan, for the
adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action
or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return receipt requested) to such
party at the address in effect for notices to it under this amendment and agrees that such service shall constitute good and sufficient
service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process
in any manner permitted by law.

 

7.           
Waiver of Jury Trial. The Company and HCW each hereby irrevocably waives any right it may have to a trial by jury
in respect of any claim based upon or arising out of this amendment or any transaction contemplated hereby.

 

8.           
Counterparts. This amendment may be executed in counterparts, each of which shall be deemed an original, but both
of which together shall constitute one and the same instrument. Delivery of an executed amendment by one party to the other may
be made by facsimile transmission.

 

[Remainder of Page Intentionally Blank]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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If the foregoing correctly
sets forth the understanding among the Company and HCW, please so indicate in the space provided below for that purpose, whereupon
this letter shall constitute a binding amendment to the Amended Original Agreement between the Company and HCW.

 

	 	Very truly yours,
	 	 
	 	AETHLON MEDICAL, INC.
	 	 
	 	 
	 	By: /s/ James B. Frakes                       
	 	Name: James B. Frakes
	 	Title: Chief Financial Officer
	 	 
	 	 
	 	 
	 	H.C. WAINWRIGHT & CO., LLC
	 	 
	 	 
	 	By: /s/ Edward D. Silvera                       
	 	Name: Edward D. Silvera
	 	Title: Chief Operating Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	3Exhibit 10.2

 

Aethlon
Medical, Inc.

 

Amended
and Restated

Non-Employee
Director Compensation Policy

July
16, 2020

 

Each member of the Board of Directors
(the “Board”) who is not also serving as an employee of or consultant to Aethlon Medical, Inc. (the
“Company”) or any of its subsidiaries (each such member, an “Eligible
Director”) will receive the compensation described in this Amended and Restated Non-Employee Director
Compensation Policy for his or her Board service. An Eligible Director may decline all or any portion of his or her
compensation by giving notice to the Company prior to the date cash may be paid or equity awards are to be granted, as the
case may be. This policy is effective as of July 16, 2020 (the “Effective Date”) and may be amended
at any time in the sole discretion of the Board or the Compensation Committee of the Board. This policy supersedes and
replaces any prior agreement or program that provides for compensation terms as of the Effective Date.

 

Cash Compensation

 

The annual cash compensation amount set
forth below is payable to Eligible Directors in equal quarterly installments, payable in arrears on the last day of each fiscal
quarter in which the service occurred. If an Eligible Director joins the Board or a committee of the Board at a time other than
effective as of the first day of a fiscal quarter, each annual retainer set forth below will be pro-rated based on days served
in the applicable fiscal year, with the pro-rated amount paid for the first fiscal quarter in which the Eligible Director provides
the service and regular full quarterly payments thereafter. All annual cash fees are vested upon payment.

 

For Eligible Directors who are serving
on the Board as of the Effective Date the annual cash compensation shall be deemed effective as of the later of (i) the Effective
Date, or (ii) the date such member of the Board was appointed or elected to the Board or to the board of directors of a wholly-owned
subsidiary of the Company.

 

1.            
Annual Board Service Retainer:

	 	a.	All
Eligible Directors: $35,000
		b.	Chairman of the Board Service Retainer (in addition to Eligible Director Service Retainer): $60,000

 

2.                 
Annual Committee Chair Service Retainer:

	 	a.	Chair
of the Audit Committee: $15,000
	 	b.	Chair
of the Compensation Committee: $15,000
	 	c.	Chair
of the Nominating and Corporate Governance Committee: $8,000

 

3.                 
Annual Committee Member Service Retainer (not applicable to Committee Chairs):

	 	a.	Member
of the Audit Committee: $7,500
	 	b.	Member
of the Compensation Committee: $7,500
	 	c.	Member
of the Nominating and Corporate Governance Committee: $5,000

 

 

 

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Equity Compensation

 

1.                 
New Eligible Directors: A new eligible director will receive an initial grant of restricted stock units with a grant
date fair value of $75,000 or, at the discretion of the Board, options to acquire shares of common stock. Restricted stock units
granted under this provision will be valued based on the average of the closing prices of the common stock for the five trading
days preceding and including the date of grant and will vest at a rate determined by the Board in its discretion, typically in
equal quarterly installments over one year. Options granted under this provision will be valued at the exercise price, which will
be based on the average of the closing prices of the common stock for the five trading days preceding and including the date of
grant. Such options will have a term of ten years and will vest at a rate determined by the Board in its discretion.

 

2.                 
Existing Eligible Directors: At the beginning of each fiscal year, each existing eligible director will receive a
grant of restricted stock units with a grant date fair value of $50,000 or, at the discretion of the Board, options to acquire
shares of common stock. Restricted stock units granted under this provision will be valued based on the average of the closing
prices of the common stock for the five trading days preceding and including the date of grant and will vest at a rate determined
by the Board in its discretion, typically in equal quarterly installments over one year. Options granted under this provision will
be valued at the exercise price, which will be based on the average of the closing prices of the common stock for the five trading
days preceding and including the date of grant. Such options will have a term of ten years and will vest at a rate determined by
the Board in its discretion.

 

Additional Requirements

 

In making any future
changes to compensation payable to Non-Employee Directors, the Board or Compensation Committee will evaluate the practices of the
peer group of companies that serve as references for executive compensation benchmarking, as well as then current general best
practices regarding director compensation. The Compensation Committee will review this Policy on at least a biennial basis and
engage an independent compensation consultant to assist in such review. Furthermore, the Company will not permit compensation to
be paid to Non-Employee Directors for their service as such, other than as provided for in this Policy, unless there are extraordinary
circumstances as determined by the Compensation Committee or the Board. All payments to Non-Employee Directors will be disclosed
in accordance with applicable law, regulations and exchange or national market system requirements.

 

 

 

 

 

 

 

 

 

 

 

 

 

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