Section 40. Whoever, having the direct management or direct control over the conduct of physical exercise as part of a course of study or training program at any public or private institution, agency or entity, willfully, wantonly and recklessly causes serious bodily injury to a person participating in a course of study or training program involving physical exercise, shall be punished by a fine of not more than five thousand dollars or by imprisonment in a jail or house of correction for not more than two and one-half years or both.
For the purposes of this section ''serious bodily injury'' shall mean bodily injury which creates a substantial risk of death or which involves either total disability or the loss or substantial impairment of some bodily function for a substantial period of time.