SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: EX-10.7
Date Filed: 2026-03-18
Accession Number: 0001493152-26-010642
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226010642/ex10-7.htm

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an arrangement involving a division of revenue, profits, discounts, rebates or allowances) unrelated to the Sale of the Licensed Products and/or Licensed Methods without which such other agreement, understanding or arrangement, the amounts, if any, charged by the Licensee or any Sublicensee to such entity or individual for the Licensed Product and/or Licensed Method, would be higher than the Net Invoice Price actually received, or if such agreement, understanding or arrangement results in the Licensee or any Sublicensee extending to such entity or individual lower prices for such Licensed Product and/or Licensed Method than those charged to others without such agreement, understanding or arrangement buying similar Products, methods or services in similar quantities. “Relationship-Influenced Sale” means a Sale of a Licensed Product or Licensed Method between the Licensee and/or any Sublicensee and (i) an Affiliate; (ii) a Joint Venture; (iii) a Related Party or (iv) the Licensee and/or a Sublicensee.

1.16 “Relationship-Influenced
Sale Purchaser” means the purchaser of Licensed Product or Licensed Method in a Relationship-Influenced Sale.

1.17 “Sale”
means the act of selling, leasing or otherwise transferring, providing, or furnishing for use for any consideration. Correspondingly,
“Sell” means to make or cause to be made a Sale and “Sold” means to have made or caused to be made a Sale.

1.18 “Sublicensee”
means any person or entity (including any Affiliate or Joint Venture) to which any of the license rights granted to the Licensee hereunder
are sublicensed.

1.19 “Valid
Claim” means a claim of a patent or patent application in any country that (i) has not expired or been abandoned; (ii) has not
been disclaimed; (iii) has not been cancelled or superseded, or if cancelled or superseded, has been reinstated; and (iv) has not been
revoked, held invalid, or otherwise declared unenforceable or not allowable by a tribunal or patent authority of competent jurisdiction
over such claim in such country from which no further appeal has or may be taken; provided that if a claim of a pending patent application
is continuously pending in the U.S. for more than seven (7) years, then such pending claim shall only be a Valid Claim for the purposes
of this Agreement from and after such time as such claim issues. A valid claim in a pending application includes any and all amendments
made to the claim.

2. GRANT

2.1 Subject
to the limitations and other terms and conditions set forth in this Agreement, HFHS grants to the Licensee an exclusive license under
its rights in and to Patent Rights to make, have made, use, Sell, offer for Sale and import Licensed Products and to practice or have
practiced Licensed Methods, in the United States and in other countries where HFHS may lawfully grant such licenses in the Field of Use.

2.2 HFHS
also grants to the Licensee the right to sublicense to third parties (including to Affiliates and Joint Ventures) the rights granted
to the Licensee under this Agreement through multiple tiers of sublicensees, provided that the economic return to HFHS from Sales by
such sublicensees is equivalent to what it would have been had the Sales been by Licensee. Licensee will notify HFHS of each sublicense
granted hereunder and will provide HFHS with a complete copy of each written sublicense agreement and each amendment to such sublicense
within thirty (30) days of issuance of such sublicense or such amendment. The Licensee will collect from Sublicensees and pay to HFHS
all fees, payments, royalties and the cash equivalent of any consideration due HFHS.

3. PAYMENT TERMS

3.1 Earned
Royalties are payable on Licensed Products and Licensed Methods covered by pending patent applications and/or issued patents. Earned
Royalties will accrue in each country for the duration of Patent Rights in that country when Licensed Products and/or Licensed Methods
are invoiced, or if not invoiced, when delivered by the Licensee or Sublicensee in a manner constituting a Net Sale.

3.2 The
Licensee will pay all Earned Royalties to HFHS quarterly on or before February 28 (for the calendar quarter ending December 31), May
31 (for the calendar quarter ending March 31), August 31 (for the calendar quarter ending June 30) and November 30 (for the calendar
quarter ending September 30) of each calendar year. Each payment will be for Earned Royalties and other consideration which has accrued
within the Licensee’s most recently completed calendar quarter.

3.3 Consideration
due HFHS will be payable and will be made in United States dollars by check payable to HFHS or by wire transfer to an account designated
by HFHS.

3.4 Notwithstanding
the provisions of Article 24 (Force Majeure) if at any time legal restrictions prevent the prompt remittance of Earned Royalties or other
consideration owed to HFHS by the Licensee with respect to any country where a sublicense is issued or a Licensed Product or Licensed
Method is Sold, then the Licensee shall convert the amount owed to HFHS into United States dollars and will pay HFHS directly from another
source of funds in order to remit the entire amount owed to HFHS.

the event that any patent or claim thereof included within the Patent Rights is held invalid in a final decision by a court of competent
jurisdiction and last resort and from which no appeal has or can be taken, then all obligation in that country to pay royalties based
on that patent or claim or any claim indistinct therefrom will cease as of the date of final decision. The Licensee will not, however,
be relieved from paying any royalties that accrued before such final decision, unless said court of competent jurisdiction makes a legally
binding decision otherwise.

Earned Royalties will be collected or paid hereunder to HFHS on Licensed Products or Licensed Methods Sold to the United States Government
as provided for in any license to or agreement with the United States Government. The Licensee and its Sublicensees will reduce the amount
charged for Licensed Products or Licensed Methods Sold to the United States Government by an amount equal to the Earned Royalty for such
Licensed Products or Licensed Methods otherwise due HFHS . Such reduction in Earned Royalties will be in addition to any other reductions
in price required by the United States Government.

the event that royalties, fees, reimbursements for Patent Prosecution Costs or other monies owed to HFHS are not received by HFHS when
due, the Licensee will pay to HFHS interest at a rate of ten percent (10%) simple interest per annum. Such interest will be calculated
from the date payment was due until actually received by HFHS. Such accrual of interest will be in addition to and not in lieu of, enforcement
of any other rights of HFHS due to such late payment.

4. LICENSE FEES

4.1 The
Licensee shall pay to HFHS a license issue fee of thirty-five thousand dollars ($35,000) payable within thirty (30) days of execution
of this Agreement.

4.2 Within
thirty (300) days of the Effective Date, the Licensee shall reimburse HFHS $36,000 for legal fees and expenses incurred in relation to
the assignment of the assets of LoneStar Heart, Inc./Cardiopolymers, Inc. for the benefit of creditors, and legal fees and expenses incurred
in relation to efforts to preserve patent rights and further prosecute patent rights, the bills for which have been received by the date
of computation of the above-specified sum. Licensee also shall pay any additional legal fees and expenses to preserve and/or prosecute
patent rights that may have been accrued, or that accrue in the future. Licensee shall pay all future patent prosecution duties and costs
after the date of this Agreement. The above fees are not creditable against any other payments required to be paid under the terms of
this Agreement.

4.3 The
Licensee shall pay to HFHS a license maintenance fee of twenty- five thousand dollars ($25,000) beginning on the one (1) year anniversary
of the Effective Date and continuing annually thereafter on each anniversary of the Effective Date. The license maintenance fee is no
longer due once the Licensee begins paying an Earned Royalty to HFHS on the Net Sales.

5. EARNED ROYALTIES

5.1 The
Licensee will also pay to HFHS an earned royalty of one percent (1.0%) of the Net Sales of Licensed Product or Licensed Method by the
Licensee or any Affiliate or Joint Venture (“Earned Royalty”).