EXHIBIT 10.26
AETHLON MEDICAL, INC.
NOTICE OF GRANT OF STOCK OPTION
Notice is hereby given of the following option grant (the "Option") to purchase shares of the Common Stock of
Aethlon Medical, Inc. a Nevada corporation (the "Company"):
Optionee: Franklyn S. Barry
Grant Date: February 23, 2005
Exercise Price: $0.38 per share
Number of Option Shares: 514,500
Optionee understands and agrees that the Option is granted subject to and in accordance with the terms of the
Aethlon Medical, Inc. Directors Compensation Plan (the "Plan"). Optionee further agrees to be bound by the
terms of the Plan and the terms of the Option as set forth in the Stock Option Agreement attached hereto as
EXHIBIT A.
NO EMPLOYMENT OR SERVICE CONTRACT. Nothing in this Notice or in the attached Stock Option
Agreement or Plan shall confer upon Optionee any right to continue in service in any capacity, including as an
employee, for any period of specific duration or interfere with or otherwise restrict in any way the rights of the
Company (or any Parent or Subsidiary employing or retaining Optionee) or of Optionee, which rights are hereby
expressly reserved by each, to terminate Optionee's service and/or employment at any time for any reason, with
or without cause.
DEFINITIONS. All capitalized terms in this Notice shall have the meaning assigned to them in this Notice or in
the attached Stock Option Agreement.
Expiration Date:
----------------
February 23, 2010 205,825
December 31, 2010 154,362
December 31, 2011 154,363
Type of Option: [ ] Incentive Stock Option
---------------
[ x ] Non-Statutory Stock Option
Date Exercisable: Immediately upon fulfillment of vesting
----------------- conditions.
Vesting Commence Date:
----------------------
February 23, 2005 205,825
December 31, 2005 154,362
December 31, 2006 154,363
OPTIONEE
ATTACHMENTS
EXHIBIT A -