SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: EX-10.5
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/ex10-5.htm

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Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation, the right of the Executive to terminate employment for Good Reason pursuant to Section 3(c) hereof, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement. Entire Agreement. As of the Effective Date, this Agreement constitutes the final, complete and exclusive agreement between the Executive and the Company with respect to the subject matter hereof and replaces and supersedes any and all other agreements, offers or promises, whether oral or written, by any member of the Company and its subsidiaries or Affiliates, or representative thereof, including the Offer Letter. Notwithstanding anything herein to the contrary, this Agreement and the obligations and commitments hereunder shall neither commence nor be of any force or effect prior to the Effective Date. Arbitration.

Any controversy or dispute that establishes a legal or equitable cause of action (“Arbitration Claim”) between
any two or more Persons Subject to Arbitration (as defined below), including any controversy or dispute, whether based on contract, common
law, or federal, state or local statute or regulation, arising out of, or relating to the Executive’s service or the termination
thereof, shall be submitted to final and binding arbitration as the sole and exclusive remedy for such controversy or dispute in accordance
with the rules of JAMS pursuant to its Employment Arbitration Rules and Procedures, which are available at http://www.jamsadr.com/rules-employment-arbitration/,
and the Company will provide a copy upon the Executive’s request. Notwithstanding the foregoing, this Agreement shall not require
any Person Subject to Arbitration to arbitrate pursuant to this Agreement any claims: (A) under a Company benefit plan subject to the
Employee Retirement Income Security Act, as amended; or (B) as to which applicable law not preempted by the Federal Arbitration Act prohibits
resolution by binding arbitration. Either party may seek provisional non-monetary remedies in a court of competent jurisdiction to the
extent that such remedies are not available or not available in a timely fashion through arbitration. It is the parties’ intent
that issues of arbitrability of any dispute shall be decided by the arbitrator.

“Persons Subject to Arbitration” means, individually and collectively, (A) the Executive, (B) any person in
privity with or claiming through, on behalf of or in the right of the Executive, (C) the Company, (D) any past, present or future Affiliate,
employee, officer, director or agent of the Company, and/or (E) any person or entity alleged to be acting in concert with or to be jointly
liable with any of the foregoing.

iii.
The arbitration shall take place before a single neutral arbitrator at the JAMS office in Boston, MA. Such arbitrator shall be provided
through JAMS by mutual agreement of the parties to the arbitration; provided that, absent such agreement, the arbitrator shall be selected
in accordance with the rules of JAMS then in effect. The arbitrator shall permit reasonable discovery. The award or decision of the arbitrator
shall be rendered in writing; shall be final and binding on the parties; and may be enforced by judgment or order of a court of competent
jurisdiction.

THE EXECUTIVE AND THE COMPANY UNDERSTAND THAT BY AGREEING TO ARBITRATE ANY ARBITRATION CLAIM, THEY WILL NOT HAVE THE RIGHT TO HAVE ANY
ARBITRATION CLAIM DECIDED BY A JURY OR A COURT, BUT SHALL INSTEAD HAVE ANY ARBITRATION CLAIM DECIDED THROUGH ARBITRATION.

THE EXECUTIVE AND THE COMPANY WAIVE ANY CONSTITUTIONAL OR OTHER RIGHT TO BRING CLAIMS COVERED BY THIS AGREEMENT OTHER THAN IN THEIR INDIVIDUAL
CAPACITIES. EXCEPT AS MAY BE PROHIBITED BY LAW, THIS WAIVER INCLUDES THE ABILITY TO ASSERT CLAIMS AS A PLAINTIFF OR CLASS MEMBER IN ANY
PURPORTED CLASS OR REPRESENTATIVE PROCEEDING.

This Section 12(h) shall be interpreted to conform to any applicable law concerning the terms and enforcement of agreements to arbitrate
service disputes. To the extent any terms or conditions of this Section 12(h) would preclude its enforcement, such terms shall be severed
or interpreted in a manner to allow for the enforcement of this Section 12(h). To the extent applicable law imposes additional requirements
to allow enforcement of this Section 12(h), this Agreement shall be interpreted to include such terms or conditions.

Cooperation. From and after the Executive’s termination of employment, the Executive shall provide the Executive’s
reasonable cooperation in connection with any action or proceeding (or any appeal from any action or proceeding) which relates to events
occurring during the Executive’s employment hereunder, and assist and advise the Company in any investigation which may be performed
by the Company, provided that the Company shall reimburse the Executive for the Executive’s reasonable costs and expenses and such
cooperation shall not unreasonably burden the Executive or unreasonably interfere with any subsequent employment that the Executive may
undertake. In the event the Executive is subpoenaed by any person or entity (including, but not limited to, any Government Agency) to
give testimony or provide documents (in a deposition, court proceeding, or otherwise), that in any way relates to the Executive’s
employment by the Company, the Executive will give prompt notice of such subpoena to the Company and will make no disclosure until the
Company has had a reasonable opportunity to contest the right of the requesting person or entity to such disclosure. Nothing in this
Section 12(i) shall limit the Executive’s right to make Permitted Disclosures.

Amendment; Survival. No amendment or other modification of this Agreement shall be effective unless made in writing and signed
by the parties hereto. The respective rights and obligations of the parties under this Agreement shall survive the Executive’s
termination of employment and the termination of this Agreement to the extent necessary for the intended preservation of such rights
and obligations.

Clawback. The compensation payable hereunder shall be subject to (i) any Company clawback or recoupment policy required in order
to comply with applicable law, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and any rules or regulations promulgated
thereunder and (ii) any Company clawback or recoupment policy approved by the Board which applies to the senior executives of the Company.
The Company and the Executive acknowledge that this Section 12(k) is not intended to limit any clawback and/or disgorgement of such compensation
pursuant to Section 304 of the Sarbanes-Oxley Act of 2002.

Counterparts. This Agreement and any agreement referenced herein may be executed in two or more counterparts, each of which shall
be deemed an original but which together shall constitute one and the same instrument.

[SIGNATURES
APPEAR ON THE FOLLOWING PAGE]

WITNESS WHEREOF, the Executive has hereunto set the Executive’s hand and, pursuant to the authorization from the Board, the Company
has caused this Agreement to be executed in its name and on its behalf, all as of the day and year first written above.

BIOVENTRIX, INC.

Name:

Title:

“EXECUTIVE”

Steve Chartier

Attachments:

Exhibit A – General Release

EXHIBIT

GENERAL
RELEASE

Release. For valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned does hereby release
and forever discharge the “Releasees” hereunder, consisting of BioVentrix, Inc. (the “Company”)
and the Company’s partners, subsidiaries, associates, affiliates, successors, heirs, assigns, agents, directors, officers, employees,
representatives, lawyers, insurers, and all persons acting by, through, under or in concert with them, or any of them, of and from any
and all manner of action or actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises,
liability, claims, demands, damages, losses, costs, attorneys’ fees or expenses, of any nature whatsoever, known or unknown, fixed
or contingent (hereinafter called “Claims”), which the undersigned now has or may hereafter have against the
Releasees, or any of them, by reason of any matter, cause, or thing whatsoever from the beginning of time to the date hereof. The Claims
released herein include, without limiting the generality of the foregoing, any Claims in any way arising out of, based upon, or related
to the employment or termination of employment of the undersigned by the Releasees, or any of them; any alleged breach of any express
or implied contract of employment; any alleged torts or other alleged legal restrictions on Releasees’ right to terminate the employment
of the undersigned; and any alleged violation of any federal, state or local statute or ordinance including, without limitation, Title
VII of the Civil Rights Act of 1964, the Age Discrimination In Employment Act (“ADEA”), the Americans With
Disabilities Act.