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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Company the Inventions and all patents that may be issued thereon in any and all countries, whether prior to, during or subsequent to the Employment Period, together with the right to file, in the Executive’s name or in the name of the Company (or its designee), applications for patents and equivalent rights (the “Applications”). The Executive will, at any time during and subsequent to the Employment Period, make such applications, sign such papers, take all rightful oaths, and perform all acts as may be requested from time to time by the Company with respect to the Inventions. The Executive will also execute assignments to the Company (or its designee), of the Applications, and give the Company and its attorneys all reasonable assistance (including the giving of testimony) to obtain the Inventions for its benefit, all without additional compensation to the Executive from the Company but entirely at the Company’s expense.

In addition, the Inventions will be deemed Work for Hire, as such term is defined under the copyright law of the United States, on behalf
of the Company and the Executive agrees that the Company will be the sole owner of the Inventions, and all underlying rights therein,
in all media now known or hereinafter devised, throughout the universe and in perpetuity, without any further obligations to the Executive.
If the Inventions, or any portion thereof, are deemed not to be Work for Hire, the Executive hereby irrevocably conveys, transfers and
assigns to the Company all rights, in all media now known or hereinafter devised, throughout the universe and in perpetuity, in and to
the Inventions, including, without limitation, all of the Executive’s right, title and interest in the copyrights (and all renewals,
revivals and extensions thereof) to the Inventions, including, without limitation, all rights of any kind or any nature now or hereafter
recognized, including, without limitation, the unrestricted right to make modifications, adaptations and revisions to the Inventions,
to exploit and allow others to exploit the Inventions and all rights to sue at law or in equity for any infringement or other unauthorized
use or conduct in derogation of the Inventions, known or unknown, prior to the date hereof, including, without limitation, the right
to receive all proceeds and damages therefrom. In addition, the Executive hereby waives any so-called “moral rights” with
respect to the Inventions. The Executive hereby waives any and all currently existing and future monetary rights in and to the Inventions
and all patents that may be issued thereon, including, without limitation, any rights that would otherwise accrue to the Executive’s
benefit by virtue of the Executive being an employee of or other service provider to the Company.

iii.
Subject to Sections 7(a), nothing in this Section 7(b) will restrict the Executive from the use of concepts, ideas or methods that are
generally known by others in the industry, nor shall the Executive be restricted from using the general know-how or experience obtained
during employment with the Company.

Notwithstanding anything in this Agreement to the contrary, nothing contained in this Agreement shall prohibit either party (or either
party’s attorney(s)) from (i) filing a charge with, reporting possible violations of federal law or regulation to, participating
in any investigation by, or cooperating with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority,
the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration, the
U.S. Commodity Futures Trading Commission, the U.S. Department of Justice or any other securities regulatory agency, self-regulatory
authority or federal, state or local regulatory authority (collectively, “Government Agencies”), or making
other disclosures that are protected under the whistleblower provisions of applicable law or regulation, (ii) communicating directly
with, cooperating with, or providing information (including trade secrets) in confidence to any Government Agencies for the purpose of
reporting or investigating a suspected violation of law, or from providing such information to such party’s attorney(s) or in a
sealed complaint or other document filed in a lawsuit or other governmental proceeding, and/or (iii) receiving an award for information
provided to any Government Agency. Pursuant to 18 USC Section 1833(b), (1) the Executive will not be held criminally or civilly liable
under any federal or state trade secret law for the disclosure of a trade secret that is made: (x) in confidence to a federal, state,
or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating
a suspected violation of law; or (y) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made
under seal and (2) the Executive acknowledges that an individual who files a lawsuit for retaliation by an employer for reporting a suspected
violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding,
if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to
court order. All disclosures permitted under this Section 7(c) are herein referred to as “Permitted Disclosures.”
Further, nothing in this Agreement is intended to or shall preclude either party from providing truthful testimony in response to a valid
subpoena, court order, regulatory request or other judicial, administrative or legal process or otherwise as required by law.

Representations. The Executive hereby represents and warrants to the Company that (a) the Executive is entering into this Agreement
voluntarily and that the performance of the Executive’s obligations hereunder will not violate any agreement between the Executive
and any other person, firm, organization or other entity, or any policy, program or code of such other person, firm, organization or
other entity person, and (b) the Executive is not bound by the terms of any agreement with any previous employer or other party to refrain
from competing, directly or indirectly, with the business of such previous employer or other party that would be violated by the Executive’s
entering into this Agreement and/or providing services to the Company pursuant to the terms of this Agreement.

Successors.

This Agreement is personal to the Executive and, without the prior written consent of the Company, shall not be assignable by the Executive
other than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Executive’s
legal representatives.

This Agreement shall inure to the benefit of and be binding upon the Company and its respective successors and assigns.

Certain Definitions.

“Active Working Status” means the Executive is actively performing work for the Company and has not resigned
(or given notice of the Executive’s intent to resign) and has not been terminated (or been given notice of the Executive’s
termination).

“Affiliate” means any entity that directly, or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with, the Company.

“Board” means the Board of Directors of the Company.

“Cause” means the occurrence of any one or more of the following events:

The Executive’s conviction of an act constituting a misdemeanor involving moral turpitude or a felony under federal, state, or
local law;

The Executive’s commitment of an act constituting a breach of fiduciary duty, gross negligence or willful misconduct with respect
to the Company;

iii.
The Executive’s commitment of an act of fraud, self-dealing, or dishonesty with respect to the Company; or

The Executive’s engagement in conduct that is materially detrimental to the business, reputation, character, or standing of the
Company.

“Code” means the Internal Revenue Code of 1986, as amended and the regulations thereunder.

“Date of Termination” means the date on which the Executive’s employment with the Company terminates.

“Disability” means that the Executive has become entitled to receive benefits under an applicable Company long-term
disability plan or, if no such plan covers the Executive, the Executive’s inability, due to physical or mental illness, to perform
the essential functions of the Executive’s job, with or without a reasonable accommodation for 180 consecutive days.

“Good Reason” means the occurrence of any one or more of the following events without the Executive’s
prior written consent, unless the Company fully corrects the circumstances constituting Good Reason, as provided below:

A decrease in the Executive’s Base Salary (unless such decrease is applied to all senior management base salaries on a pro rata
basis); or

The Company requires the Executive to relocate to an office that is more than 150 miles from 120 Forbes Blvd., Suite 125, Mansfield,