First Amendment to Employment Agreement, dated March 25, 2025, by and between the Company and John Lai

Exhibit 10.1

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
BETWEEN PETVIVO HOLDING, INC. AND JOHN LAI

THIS AMENDMENT (this “Amendment”) by and among PetVivo Holdings, Inc. (“PETVIVO” or the “Company”), and John Lai (“Employee”) is made and entered into as of the 25^th day of March, 2025 and having an Effective Date of May 1, 2024.

RECITALS

WHEREAS, the Company and Employee entered into an Employment Agreement dated as of November 1, 2021 (“Employment Agreement”); and

WHEREAS, PETVIVO and Employee would like to amend the provisions of the Employment Agreement in view of the desire of the Parties to extend the Agreement and adjust the compensation to the Employee to reduce the amount of Base Salary and provide other mutually-agreed compensation for the reduction.

WHEREAS, PETVIVO would like to extend the term of the Employment Agreement to end on March 31, 2027.

WHEREAS, PETVIVO and Employee would like the terms of this Amendment to be implemented on the Effective Date, May 1, 2024.

NOW, THEREFORE, in consideration of the above recitals and the covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

AGREEMENT

1. Defined Terms. Capitalized terms that are used in this Amendment have the meanings set forth in the Employment Agreement, unless otherwise defined in this Amendment. Note that underlined text denotes additions and strikethrough text denotes deletions to the Employment Agreement.

2. In Section 2.5 of the Employment Agreement entitled “Term”, this Section shall be deleted in its entirety and replaced with the following:

2.5 Term. Subject to the provisions of Article IV, the term of employment of Executive under this Agreement shall commence on the date set forth above and continue until March 31, 2027 (the “Term”).

3. In Section 3.1 of the Employment Agreement entitled “Base Salary”, this Section shall be deleted in its entirety and replaced with the following:

3.1 Base Salary. The Company shall pay Executive the Base Salary to Executive in gross bi-monthly payments of Six Thousand Two Hundred Fifty Dollars ($6,250.00) payable on the 15^th day and last day of each month for the remaining term of this Agreement or until termination. Executive shall be paid a Base Salary at an annual rate that is not less than One Hundred FiftyThousand Dollars ($150,000.00) or such higher annual rate as may from time to time be approved by the Board of Directors or Compensation Committee.

4. The Company and Executive mutually agree to negotiate in good faith a fair and reasonable plan to provide compensation to the Executive that shall replace the Base Salary that is relinquished as a result of the reduction.

IN WITNESS WHEREOF, each of the parties has caused this Amendment to the Employment Agreement between the parties entered into on March 25, 2025 to be executed in the manner appropriate to each.

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