SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: EX-10.1
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/ex10-1.htm

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Exhibit

BIOVENTRIX,
INC.

Independent
Director Indemnification Agreement

Dated

This
Independent Director Indemnification Agreement (this “Agreement”) is made and entered into as of the date first set
forth above, by and between BioVentrix, Inc., a Delaware corporation (the “Company”) and _______ (the “Indemnitee”).
The Company and Indemnitee may collective be referred to as the “Parties” and each individually as a “Party”.

WHEREAS,
the Indemnitee was appointed to the Company’s board of directors (the “Board”) as an independent director on
_____________ (the “Effective Date”)

WHEREAS,
Indemnitee’s service on the Board substantially benefits the Company;

WHEREAS,
individuals are reluctant to serve as independent directors of publicly traded or other corporations unless they are provided with adequate
protection through insurance or indemnification against the risks of claims and actions against them arising out of such service;

WHEREAS,
Indemnitee does not regard the protection currently provided by applicable law, the Company’s governing documents and any insurance
as adequate under the present circumstances, and Indemnitee may not be willing to serve as an independent director of the Company without
additional protection;

WHEREAS,
in order to induce Indemnitee to continue his service on the Board, it is reasonable, prudent and necessary for the Company to contractually
obligate itself to indemnify, and to advance expenses on behalf of, Indemnitee as permitted by applicable law; and

WHEREAS,
this Agreement is a supplement to and in furtherance of the indemnification provided in the Company’s Amended Certificate of Incorporation
and Amended and Restated Bylaws, and any resolutions adopted pursuant thereto, and this Agreement shall not be deemed a substitute therefor,
nor shall this Agreement be deemed to limit, diminish or abrogate any rights of Indemnitee thereunder;

NOW,
THEREFORE, in consideration of the promises and of the mutual covenants and agreements hereinafter set forth, and for other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Company and the Indemnitee hereby agree
as follows:

Definitions.

A “Change in Control” shall be deemed to occur upon the earliest to occur after the Effective Date of any of the following
events:

Acquisition of Stock by Third Party. Any Person (as defined below) becomes the Beneficial Owner (as defined below), directly or
indirectly, of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company’s
then outstanding securities; provided, that any acquisition that occurs as a result of any transaction that has been approved by a majority
of the Company’s board of directors shall be excluded from the definition of Change in Control;

Change in Board Composition. During any period of two consecutive years (not including any period prior to the execution of this
Agreement), individuals who at the beginning of such period constitute the Company’s board of directors, and any new directors
(other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in
Section 1(a)(i), Section 1(a)(iii) or Section 1(a)(iv)) whose election by the board of directors or nomination for election by the Company’s
stockholders was approved by a vote of at least two-thirds of the directors then still in office who either were directors at the beginning
of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a
majority of the members of the Company’s board of directors; provided, that changes in the composition of the Company’s board
of directors as a result of any transaction that has been approved by a majority of the Company’s board of directors shall be excluded
from the definition of Change in Control;

(iii)
Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger
or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation
continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than
50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation
and with the power to elect at least a majority of the board of directors or other governing body of such surviving entity;

Liquidation. The approval by the stockholders of the Company of a complete liquidation of the Company or an agreement for the
sale or disposition by the Company of all or substantially all of the Company’s assets; or

Other Events. Any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation
14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended,
whether or not the Company is then subject to such reporting requirement.

“Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as
amended; provided, however, that “Person” shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities
under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company
in substantially the same proportions as their ownership of stock of the Company.

“Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under the Securities Exchange Act of 1934,
as amended; provided, however, that “Beneficial Owner” shall exclude any Person otherwise becoming a Beneficial Owner by
reason of (i) the stockholders of the Company approving a merger of the Company with another entity or (ii) the Company’s board
of directors approving a sale of securities by the Company to such Person.

“Corporate Status” describes the status of a person who is or was a director, trustee, general partner, managing member,
officer, employee, agent or fiduciary of the Company or any other Enterprise.

“DGCL” means the Delaware General Corporation Law.

“Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect
of which indemnification is sought by Indemnitee and who meets the requirements of a “disinterested director” as set forth
in the DGCL.

“Enterprise” means the Company and any other corporation, partnership, limited liability company, joint venture, trust,
employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, trustee,
general partner, managing member, officer, employee, agent or fiduciary.

“Expenses” include all reasonable and actually incurred attorneys’ fees, retainers, court costs, transcript
costs, fees and costs of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding.
Expenses also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation
the premium, security for, and other costs relating to any cost bond, supersedeas bond or other appeal bond or their equivalent, and
(ii) for purposes of Section 12(d), Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of
Indemnitee’s rights under this Agreement or under any directors’ and officers’ liability insurance policies maintained
by the Company. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against
Indemnitee.

“Independent Counsel” means a law firm, or a partner or member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent (i) the Company or Indemnitee in any matter
material to either such Party (other than as Independent Counsel with respect to matters concerning Indemnitee under this Agreement,
or other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a claim for
indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who,
under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the
Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.