diff --git a/VERSION b/VERSION
index 7770e44..b28f934 100644
--- a/VERSION
+++ b/VERSION
@@ -1,3 +1,3 @@
 VERSION_MAJOR = 1
-VERSION_MINOR = 4
+VERSION_MINOR = 5
 VERSION_PATCH = 0
diff --git a/doc/misc/example.adoc b/doc/misc/example.adoc
index 0a38fd3..3c6881a 100644
--- a/doc/misc/example.adoc
+++ b/doc/misc/example.adoc
@@ -20,43 +20,43 @@ The example describes a sensor model FMU with one input, one output, and no addi
     canNotUseMemoryManagementFunctions="true"/>
   <DefaultExperiment startTime="0.0" stepSize="0.020"/>
   <VendorAnnotations>
-    <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp version="1.4.0" osi-version="3.6.0"/></Tool>
+    <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp version="1.5.0" osi-version="3.7.0"/></Tool>
   </VendorAnnotations>
   <ModelVariables>
     <ScalarVariable name="OSMPSensorViewIn.base.lo" valueReference="0" causality="input" variability="discrete">
       <Integer start="0"/>
       <Annotations>
-        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorViewIn" role="base.lo" mime-type="application/x-open-simulation-interface; type=SensorView; version=3.6.0"/></Tool>
+        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorViewIn" role="base.lo" mime-type="application/x-open-simulation-interface; type=SensorView; version=3.7.0"/></Tool>
       </Annotations>
     </ScalarVariable>
     <ScalarVariable name="OSMPSensorViewIn.base.hi" valueReference="1" causality="input" variability="discrete">
       <Integer start="0"/>
       <Annotations>
-        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorViewIn" role="base.hi" mime-type="application/x-open-simulation-interface; type=SensorView; version=3.6.0"/></Tool>
+        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorViewIn" role="base.hi" mime-type="application/x-open-simulation-interface; type=SensorView; version=3.7.0"/></Tool>
       </Annotations>
     </ScalarVariable>
     <ScalarVariable name="OSMPSensorViewIn.size" valueReference="2" causality="input" variability="discrete">
       <Integer start="0"/>
       <Annotations>
-        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorViewIn" role="size" mime-type="application/x-open-simulation-interface; type=SensorView; version=3.6.0"/></Tool>
+        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorViewIn" role="size" mime-type="application/x-open-simulation-interface; type=SensorView; version=3.7.0"/></Tool>
       </Annotations>
     </ScalarVariable>
     <ScalarVariable name="OSMPSensorDataOut.base.lo" valueReference="3" causality="output" variability="discrete" initial="exact">
       <Integer start="0"/>
       <Annotations>
-        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorDataOut" role="base.lo" mime-type="application/x-open-simulation-interface; type=SensorData; version=3.6.0"/></Tool>
+        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorDataOut" role="base.lo" mime-type="application/x-open-simulation-interface; type=SensorData; version=3.7.0"/></Tool>
       </Annotations>
     </ScalarVariable>
     <ScalarVariable name="OSMPSensorDataOut.base.hi" valueReference="4" causality="output" variability="discrete" initial="exact">
       <Integer start="0"/>
       <Annotations>
-        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorDataOut" role="base.hi" mime-type="application/x-open-simulation-interface; type=SensorData; version=3.6.0"/></Tool>
+        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorDataOut" role="base.hi" mime-type="application/x-open-simulation-interface; type=SensorData; version=3.7.0"/></Tool>
       </Annotations>
     </ScalarVariable>
     <ScalarVariable name="OSMPSensorDataOut.size" valueReference="5" causality="output" variability="discrete" initial="exact">
       <Integer start="0"/>
       <Annotations>
-        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorDataOut" role="size" mime-type="application/x-open-simulation-interface; type=SensorData; version=3.6.0"/></Tool>
+        <Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp-binary-variable name="OSMPSensorDataOut" role="size" mime-type="application/x-open-simulation-interface; type=SensorData; version=3.7.0"/></Tool>
       </Annotations>
     </ScalarVariable>
   </ModelVariables>
diff --git a/doc/misc/introduction.adoc b/doc/misc/introduction.adoc
index 6d08023..b15ab58 100644
--- a/doc/misc/introduction.adoc
+++ b/doc/misc/introduction.adoc
@@ -7,5 +7,5 @@ endif::[]
 _OSI Sensor Model Packaging_ (OSMP) is a package layer specification for the _Open Simulation Interface_ (OSI).
 It specifies how models that use OSI are packaged as _Functional Mock-up Units_ (FMUs) in accordance with the _Functional Mock-up Interface 2.0_ (FMI 2.0).
 
-This is version 1.4.0 of this specification. The version number is to be
+This is version 1.5.0 of this specification. The version number is to be
 interpreted according to the https://semver.org/spec/v2.0.0.html[_Semantic Versioning Specification 2.0.0_].
diff --git a/doc/spec/basic_conventions.adoc b/doc/spec/basic_conventions.adoc
index 5a89745..fd684e7 100644
--- a/doc/spec/basic_conventions.adoc
+++ b/doc/spec/basic_conventions.adoc
@@ -11,7 +11,7 @@ The following annotation shall be placed into the `<VendorAnnotations>` element
 
 [source,xml]
 ----
-<Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp version="1.4.0" osi-version="x.y.z"/></Tool>
+<Tool name="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp version="1.5.0" osi-version="x.y.z"/></Tool>
 ----
 
 The `@osi-version` attribute should contain the major, minor, and patch version number of the OSI specification that this model was compiled against.
@@ -37,5 +37,5 @@ The rules above for FMI 2.0 apply, with the provision that the annotation shall
 
 [source,xml]
 ----
-<Annotation type="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp version="1.4.0" osi-version="x.y.z"/></Annotation>
+<Annotation type="net.pmsf.osmp" xmlns:osmp="http://xsd.pmsf.net/OSISensorModelPackaging"><osmp:osmp version="1.5.0" osi-version="x.y.z"/></Annotation>
 ----
diff --git a/examples/open-simulation-interface b/examples/open-simulation-interface
index 296c549..c6735c6 160000
--- a/examples/open-simulation-interface
+++ b/examples/open-simulation-interface
@@ -1 +1 @@
-Subproject commit 296c549e95364f360beb724e39b2c6470d94b780
+Subproject commit c6735c67342a04100e6c9f03a6050c47fc94cb16