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

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Participants as soon as administratively practicable following the Administrator’s determination in accordance with Section 9.5. 10. Other Awards 10.1. General . The Administrator may grant Dividend Equivalents or Other Stock or Cash Based Awards, to one or more Service Providers, in such amounts and subject to such terms and conditions as are consistent with the Plan. 10.2. Dividend Equivalents . The Administrator may provide that any Award, other than an Option or Stock Appreciation Right, may provide a Participant with the right to receive Dividend Equivalents. Dividend Equivalents may be paid currently or credited to an account for the Participant, settled in cash or Shares and subject to the same restrictions on transferability and forfeitability as the Award with respect to which the Dividend Equivalents are granted. The payment of Dividend Equivalents shall be specified in the applicable Award Agreement and shall in all cases be subject to Applicable Law.

10.3.	Other
Stock or Cash Based Awards . Other Stock-Based Awards may be granted either alone, in
addition to, or in tandem with, other Awards granted under the Plan and/or cash awards made
outside of the Plan. The Administrator shall have authority to determine the Service Providers
to whom and the time or times at which Other Stock-Based Awards shall be made, the amount
of such Other Stock-Based Awards, and all other conditions of the Other Stock-Based Awards
including any dividend and/or voting rights. The Administrator may grant Cash Awards in such
amounts and subject to such performance or other vesting criteria and terms and conditions
as the Administrator may determine. Cash Awards shall be evidenced in such form as the Administrator
may determine.

11.	Adjustments;
Change in Control

11.1.	Adjustments .
In the event that any dividend or other distribution (whether in the form of cash, Shares,
other securities, or other property), recapitalization, share split, reverse share split,
reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange
of Shares or other securities of the Company, or other change in the corporate structure
of the Company affecting the Shares occurs such that an adjustment is determined by the Administrator
(in its sole discretion) to be appropriate in order to prevent dilution or enlargement of
the benefits or potential benefits intended to be made available under the Plan, then the
Administrator shall, in such manner as it may deem equitable, adjust (i) the number and class
of Shares which may be delivered under the Plan (or number and kind of other securities or
other property); (ii) the number, class and price (including the exercise or strike price
of Options and SARs) of Shares subject to outstanding Awards, (iii) any applicable performance
criteria, performance period, and other terms and conditions of outstanding Performance Awards,
and (iv) the numerical limits in Section 5. Notwithstanding the preceding, the number of
Shares subject to any Award always shall be a whole number.

11.2.	Dissolution
or Liquidation . In the event of the proposed dissolution or liquidation of the Company,
the Administrator will notify each Participant as soon as practicable prior to the effective
date of such proposed transaction. The Administrator in its discretion may provide for a
Participant to have the right to exercise an Award, to the extent applicable, until ten (10)
days prior to such transaction as to all of the Shares covered thereby, including Shares
as to which the Award would not be vested or otherwise be exercisable. In addition, the Administrator
may provide that any Company repurchase option or forfeiture rights applicable to any Award
shall lapse one hundred percent (100%), and that any Award vesting shall accelerate one hundred
percent (100%), provided the proposed dissolution or liquidation takes place at the time
and in the manner contemplated. To the extent it has not been previously vested and, if applicable,
exercised, an Award will terminate immediately prior to the consummation of such proposed
action.

11.3.	Change
in Control . In the event of a Change in Control, each outstanding Award shall be assumed
or an equivalent award substituted by the acquiring or successor corporation or a parent
of the acquiring or successor corporation. Unless determined otherwise by the Administrator,
in the event that the successor corporation refuses to assume or substitute an Award, (A)
the Participant shall fully vest in and have the right to exercise the Award as to all of
the Shares, including those as to which it would not otherwise be vested or exercisable;
(B) all applicable restrictions will lapse; and (C) all performance objectives and other
vesting criteria will be deemed achieved at targeted levels. If an Option or SAR is not assumed
or substituted in the event of a Change in Control, the Administrator shall notify the Participant
in writing or electronically that the Option or SAR shall be exercisable, to the extent vested,
for a period of up to fifteen (15) days from the date of such notice, and the Option or SAR
shall terminate upon the expiration of such period. For the purposes of this Section 11.3,
the Award shall be considered assumed if, following the Change in Control, the Award confers
the right to purchase or receive, for each Share subject to the Award immediately prior to
the Change in Control, the consideration (whether shares, cash, or other securities or property)
received in the Change in Control by holders of Shares for each Share held on the effective
date of the transaction (and if holders were offered a choice of consideration, the type
of consideration chosen by the holders of a majority of the outstanding Shares); provided ,
however , that if such consideration received in the Change in Control is not solely
common shares of the acquiring or successor corporation or its parent, the Administrator
may, with the consent of the acquiring or successor corporation, provide for the consideration
to be received, for each Share subject to the Award, to be solely common shares of the acquiring
or successor corporation or its parent equal in fair market value to the per share consideration
received by holders of Shares in the Change in Control. Notwithstanding anything herein to
the contrary, an Award that vests, is earned, or is paid out upon the satisfaction of one
or more performance goals will not be considered assumed if the Company or the acquiring
or successor corporation modifies any of such performance goals without the Participant’s
consent; provided , however , that a modification to such performance goals only
to reflect the acquiring or successor corporation’s post-Change in Control corporate
structure will not be deemed to invalidate an otherwise valid Award assumption. Payments
under this Section 11.3 may be delayed to the same extent that payment of consideration to
the holders of Shares in connection with the Change in Control is delayed as a result of
escrows, earnouts, holdbacks, or any other contingencies.

12.	Provisions
Applicable to Awards

12.1.	Conditions
Upon Issuance of Shares . Shares will not be issued pursuant to an Award unless the exercise
of such Award and the issuance and delivery of such Shares will comply with Applicable Law
and will be further subject to the approval of counsel for the Company with respect to such
compliance. As a condition to the exercise or receipt of an Award, the Company may require
the person exercising or receiving such Award to represent and warrant at the time of any
such exercise or receipt that the Shares are being purchased only for investment and without
any present intention to sell or distribute such Shares if, in the opinion of counsel for
the Company, such a representation is required or desirable.

12.2.	Transferability .
No Award may be sold, assigned, transferred, pledged or otherwise encumbered, either voluntarily
or by operation of law, except by will or the laws of descent and distribution. Each Participant
may file with the Administrator a written designation of one or more persons as the beneficiary(ies)
who shall be entitled to receive the amounts payable with respect to an Award, if any, due
under this Plan upon his or her death. A Participant may, from time to time, revoke or change
his or her beneficiary designation without the consent of any prior beneficiary by filing
a new designation with the Administrator. The last such designation filed with the Administrator
shall be controlling; provided, however, that no designation, or change or revocation thereof,
shall be effective unless received by the Administrator prior to the Participant’s
death, and in no event shall it be effective as of a date prior to such receipt. If no beneficiary
designation is filed by a Participant, the beneficiary shall be deemed to be his or her spouse
or, if the Participant is unmarried at the time of death, his or her estate. Upon the occurrence
of a Participant’s divorce (as evidenced by a final order or decree of divorce), any
spousal designation previously given by such Participant shall automatically terminate.