SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: EX-10.3
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/ex10-3.htm

Chunk 8 of 9
Word Count: 980
Character Count: 6052

Document Content:

rights of any Participant with respect to outstanding Awards, unless mutually agreed otherwise between the Participant and the Administrator, which agreement must be in writing and signed by the Participant and the Company. Termination of the Plan will not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Awards granted under the Plan prior to the date of such termination. 15. Foreign Participants The Administrator may from time to time establish sub-plans under the Plan for purposes of satisfying securities, tax, or other laws of various jurisdictions in which the Company intends to grant Awards. Any sub-plans shall contain such limitations and other terms and conditions as the Administrator determines are necessary or desirable. All sub-plans shall be deemed a part of the Plan, but each sub-plan shall apply only to the Participants in the jurisdiction for which the sub-plan was designed. 16. Clawbacks

Notwithstanding
any other provisions in the Plan, the Administrator may cancel any Award, require reimbursement of any Award, and effect any other right
of recoupment of equity or other compensation provided under the Plan in accordance with Company policies, including the Company’s
Clawback Policies. A Participant may be required to repay to the Company previously paid compensation, whether provided pursuant to the
Plan or an Award Agreement, in accordance with the Clawback Policies. By accepting an Award, the Participant agrees to be bound by the
Clawback Policies and to adhere to the Clawback Policies to the extent required by Applicable Law.

Right to Continued Service

Nothing
in the Plan or any instrument executed or Award granted pursuant thereto shall confer upon any Participant any right to continue to serve
the Company or an Affiliate in the capacity in effect at the time the Award was granted or shall affect the right of the Company or an
Affiliate to terminate (i) a Participant’s employment with or without notice and with or without Cause, or (ii) a Participant’s
service as a Consultant or Director.

Rights as a Shareholder

Except
as provided in the Plan or an Award Agreement, no Participant shall be deemed to be the holder of, or to have any of the rights of a
holder with respect to, any Shares subject to such Award unless and until such Participant has satisfied all requirements for exercise
of the Award pursuant to its terms and no adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities,
or other property) or distributions of other rights for which the record date is prior to the date such Share certificates are issued,
except as provided in Section 11.

19.	Miscellaneous

19.1.	Limitations
on Liability . Neither the Company, nor its Parent, nor any Subsidiary, nor any person
serving as Administrator shall have any liability to a Participant in the event an Award
held by the Participant fails to achieve its intended characterization under the tax, securities,
or other applicable laws and regulations.

19.2.	Inability
to Obtain Authority . The inability of the Company to obtain authority from any regulatory
body having jurisdiction, which authority is deemed by the Company’s counsel to be
necessary to the lawful issuance and sale of any Shares hereunder, will relieve the Company
of any liability in respect of the failure to issue or sell such Shares as to which such
requisite authority will not have been obtained.

19.3.	Severability .
Notwithstanding any contrary provision of the Plan or an Award Agreement, if any one or more
of the provisions (or any part thereof) of this Plan or an Award Agreement shall be held
invalid, illegal, or unenforceable in any respect, such provision shall be modified so as
to make it valid, legal, and enforceable, and the validity, legality, and enforceability
of the remaining provisions (or any part thereof) of the Plan or Award Agreement, as applicable,
shall not in any way be affected or impaired thereby.

19.4.	Governing
Documents . The Plan and each Award Agreement evidencing an Award are intended to be read
together, and together, set forth the complete terms and conditions of each Award. To the
extent of any contradiction between the Plan and any Award Agreement or other written agreement
between a Participant and the Company, the Plan will govern unless the Award Agreement or
other written agreement was approved by the Administrator and expressly provides that a specific
provision of the Plan will not apply.

19.5.	Governing
Law . The Plan will be governed by and construed in accordance with the internal laws
of the State of Delaware, without reference to any choice of law principles.

19.6.	Titles
and Headings . The titles and headings in the Plan are for purposes of convenience only
and are not intended to define or limit the construction of the provisions hereof.

19.7.	Intended
to Comply with Applicable Law . The Plan and all Awards granted hereunder are intended
to fully comply with Applicable Law. All administrative actions, determinations, and exercises
of discretion by the Administrator shall comply with Applicable Law.

20.	Shareholder
Approval

The
Plan will be subject to approval by the shareholders of the Company within twelve (12) months after the date the Plan is adopted. Such
shareholder approval will be obtained in the manner and to the degree required under Applicable Law. All Awards hereunder are contingent
on approval of the Plan by the Company’s shareholders. Notwithstanding any other provision of this Plan, if the Plan is not approved
by the Company’s shareholders within twelve (12) months after the date the Plan is adopted, the Plan and any Awards hereunder shall
be automatically terminated.

21.	Effective
Date

The
Plan shall be effective as of ________________ ___, 2026, the date on which the Plan was adopted by the Board (the “Effective
Date”).

Unless
terminated earlier under Section 14, this Plan shall terminate on ________ ___, 2036, ten (10) years after the Effective Date.