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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either party of any breach or default of any of the agreements contained herein will be deemed a waiver as to any subsequent and/or similar breach or default. No waiver will be valid or binding upon the parties unless made in writing and signed by a duly authorized officer of each party. 22. FORCE MAJEURE 22.1 Except for the Licensee’s obligation to make any payments to HFHS hereunder, the parties shall not be responsible for any failure to perform due to the occurrence of any events beyond their reasonable control which render their performance impossible or onerous, including, but not limited to: accidents (environmental, toxic spill, etc.); acts of God; biological or nuclear incidents; casualties; earthquakes; fires; floods; governmental acts; orders or restrictions; inability to obtain suitable and sufficient labor, transportation, fuel and materials; local, national or state emergency; power failure and power outages; acts of terrorism; strike; and war.

22.2 Either
party to this Agreement, however, will have the right to terminate this Agreement upon thirty (30) days’ prior written notice if
either party is unable to fulfill its obligations under this Agreement due to any of the causes specified in Paragraph 22.1 for a period
of one (I) year after the Force Majeure event.

23. GOVERNING LAWS; VENUE

THIS AGREEMENT WILL BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF MICHIGAN, excluding any choice
of law rules that would direct the application of the laws of another jurisdiction and without regard to which party drafted
particular provisions of this Agreement, but the scope and validity of any patent or patent application will be governed by the
applicable laws of the country of such patent or patent application.

23.2 Any
legal action brought by the parties hereto relating to this Agreement will be conducted in Wayne County, Michigan. Each party consents
to the jurisdiction of the state and federal courts located in Wayne County, Michigan.

24. GOVERNMENT APPROVAL OR REGISTRATION

this Agreement or any associated transaction is required by the law of any nation to be either approved or registered with any governmental
agency, the Licensee will assume all legal obligations to do so. The Licensee will notify HFHS if it becomes aware that this Agreement
is subject to a United States or foreign government reporting or approval requirement. The Licensee will make all necessary filings and
pay all costs including fees, penalties and all other out-of-pocket costs associated with such reporting or approval process.

25. COMPLIANCE WITH LAWS

The
Licensee shall comply with all applicable international, national, state, regional and local laws and regulations in performing its obligations
hereunder and in its use, manufacture, Sale or import of the Licensed Products or practice of the Licensed Method. The Licensee will
observe all applicable United States and foreign laws with respect to the transfer of Licensed Products and/or Licensed Methods and related
technical data of either to foreign countries, including, without limitation, the International Traffic in Arms Regulations (ITAR) and
the Export Administration Regulations. The Licensee shall manufacture Licensed Products and practice the Licensed Methods in compliance
with applicable government importation laws and regulations of a particular country for Licensed Products or Licensed Methods made outside
the particular country in which such Licensed Products and Licensed Methods are used or Sold.

26. CONFIDENTIALITY

26.1 The
Licensee and HFHS will treat and maintain the other party’s proprietary business, patent prosecution, software, engineering drawings,
process and technical information and other proprietary information, including the negotiated terms of this Agreement and any progress
reports and royalty reports (“Proprietary Information”) in confidence using at least the same degree of care as the receiving
party uses to protect its own proprietary information of a like nature from the date of disclosure until five (5) years after the termination
or expiration of this Agreement.

26.2 The
Licensee and HFHS may use and disclose Proprietary Information to their employees, agents, attorneys, consultants, contractors and, in
the case of the Licensee, its Sublicensees, provided that such parties are bound by a like duty of confidentiality as that found in this
Article 26 (Confidentiality). Notwithstanding anything to the contrary contained in this Agreement, HFHS may release this Agreement,
including any terms contained herein and information regarding royalty payments or other income received in connection with this Agreement
to the inventors, senior administrative officials employed by HFHS and attorneys and accountants who represent HFHS, upon their request.
If such release is made, HFHS will request that such terms be kept in confidence in accordance with the provisions of this Article 26
(Confidentiality). In addition, notwithstanding anything to the contrary in this Agreement, if a third party inquires whether a license
to Patent Rights is available or if legal proceedings are involved, then HFHS may disclose the existence of this Agreement and the extent
of the grant in Article 2 (Grant) and related definitions to such third party, but will not disclose the name of the Licensee unless
Licensee has already made such disclosure publicly.

26.3 All
written Proprietary Information will be labeled or marked confidential or proprietary. If the Proprietary Information is orally disclosed,
it will be reduced to writing or some other physically tangible form, marked and labeled as confidential or proprietary by the disclosing
party and delivered to the receiving party within thirty (30) days after the oral disclosure.

26.4 Nothing
contained herein will in any way restrict or impair the right of the Licensee or HFHS to use or disclose any Proprietary Information:

26.4.1	that
recipient can demonstrate by written records was previously known to it prior to its disclosure
by the disclosing party;

26.4.2	that
recipient can demonstrate by written records is now, or becomes in the future, public knowledge
other than through acts or omissions of recipient; and

26.4.3	that
recipient can demonstrate by written records was lawfully obtained without restrictions on
the recipient from sources independent of the disclosing party.

The
Licensee or HFHS also may use or disclose Proprietary Information that is required to be disclosed (i) to a governmental entity or agency
in connection with seeking any governmental or regulatory approval, governmental audit, or other governmental contractual requirement
or (ii) to enforce a Party’s rights hereunder or (iii) by law, provided that the recipient uses reasonable efforts to give the
party owning the Proprietary Information sufficient notice of such required disclosure to allow the party owning the Proprietary Information
reasonable opportunity to object to, and to take legal action to prevent, such disclosure.

26.5 Upon
termination of this Agreement, the Licensee and HFHS will destroy or return any of the disclosing party’s Proprietary Information
in its possession within fifteen (15) days following the termination of this Agreement. The Licensee and HFHS will provide each other,
within thirty (30) days following termination, with written notice that such Proprietary Information has been returned or destroyed.
Each party may, however, retain one copy of such Proprietary Information for archival purposes in non-working files.

27. MISCELLANEOUS

27.1 The
headings of the several paragraphs, articles and sections are inserted for convenience of reference only and are not intended to be a
part of or to affect the meaning or interpretation of this Agreement.

27.2 This
Agreement is not binding on the parties until it has been signed below on behalf of each party. It is then effective as of the Effective
Date.

amendment or modification of this Agreement is valid or binding on the parties unless made in writing and signed on behalf of each party.

27.4 This
Agreement embodies the entire understanding of the parties and supersedes all previous communications, representations or understandings,
either oral or written, between the parties relating to the subject matter hereof. ·

case any of the provisions contained in this Agreement is held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability will not affect any other provisions of this Agreement and this Agreement will be construed as if such
invalid, illegal or unenforceable provisions had never been contained in it.

provisions of this Agreement are intended or shall be construed to confer upon or give to any person or entity other than HFHS and the
Licensee any rights, remedies or other benefits under, or by reason of, this Agreement.

27.7 Licensee
agrees that HFHS shall have the right to audit the books and records of Licensee at any time, upon 3 days advance notice, to validate
the calculation of amounts payable by Licensee to HFHS hereunder. In the event that the results of an audit reflect that Licensee has
underpaid HFHS in the amount of $10,000 or more, then Licensee shall promptly pay HFHS the under payment amount, and Licensee shall reimburse
HFHS for reasonable costs incurred in performing such audit.