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AEMD > SEC Filings for AEMD > Form 8-K on 9-Jul-2013All Recent SEC Filings

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Form 8-K for AETHLON MEDICAL INC


9-Jul-2013

Change in Directors or Principal Officers


ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

Effective June 18, 2013, Dr. Chetan S. Shah was elected to the Board of Directors (the "Board") of Aethlon Medical, Inc. (the "Registrant"). Dr. Shah was elected by the unanimous vote of the Board, filling one of two vacancies created by the Board's determination to enlarge the Board and fix the number of Directors on the Board at nine, as permitted by the Registrant's By-laws. The election of Dr. Shah to the Board brings the total number of Directors to eight. He will serve until his resignation or removal, or until his successor is duly elected. In addition to having been appointed to the Board, Dr. Shah has been named a member of the Registrant's Audit Committee and its Compensation Committee.

Dr. Chetan Shah is a board certified Otolaryngologist. He is an Advisory Board Member at The Bank of Princeton, and a founder, partner and Board member of the Surgery Center at Hamilton as well as Physician Management Systems and Princeton Eye & Ear. Dr. Shah serves on the board of two other private companies. He holds teaching positions and serves on multiple hospital committees in the area and is on the Audiology and Speech Language Pathology Committee for the State of New Jersey. Dr. Shah received his Bachelor's degree and Medical Degree from Rutgers University and Robert Wood Johnson Medical School.

Between March 2012 and June 2013, Dr. Shah participated in several private equity placements by the Registrant in connection with which he invested an aggregate amount of $625,556 into the Registrant and in return received 8,500,000 restricted shares of our Common Stock and seven year warrants to purchase 4,250,000 shares of our Common Stock at exercise prices ranging from $0.093 per share to $0.125 per share.

In connection with his election to the Board, Dr. Shah will be entitled to receive compensation, including equity compensation, under the Registrant's 2012 Directors Compensation Program (the "Program"). In addition, under the Program eligible Directors will receive cash compensation equal to $500 for each committee meeting attended and $1,000 for each formal Board meeting attended.

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