Document:

EX-10.5.2

 Exhibit 10.5.2 

Biodesix, Inc. Second Amended and Restated Bonus-to-Options
Program 
 Adopted by the Board of Directors on June 21, 2011 

 
 This program is only available to the Chief Executive Officer and direct reports to the
CEO. This policy will be incorporated into the overall Equity Incentive Policy and may be included in the document describing that policy. Effective beginning as of the company’s 2012 fiscal year, this program amends and restates in its
entirety the prior “bonus to options program” adopted by the board of directors of the company on October 15, 2010. 
  

	 	1.	 	Participation in this program is limited to the Chief Executive Officer and direct reports to the CEO. 

  

	 	2.	 	The program allows executives to convert some or all (depending on availability) of their annual cash bonus into options on the company’s common stock. 

 

	 	3.	 	Executives must declare their intent to participate in this program not later than the last day of the calendar year prior to the taxable year for which bonuses will be awarded. For example, an election must be made not
later than December 31, 2008 to participate in the program with respect to the bonus paid for calendar year 2009, even though any bonus for calendar year 2009 may actually be paid in 2010. For the first year in which an executive first becomes
eligible to participate (upon initial implementation of this plan or for newly-hired executives), the executive has 30 days to declare his or her intent to participate in the program. Such election only applies to that portion of bonus payable for
services remaining to be performed in that year. Notwithstanding the foregoing, executives hired after September 30 are not eligible for the current year. 

  

	 	4.	 	Participating executives will declare their intent to convert a percentage of their bonus, up to 100%, into options on the common shares of the company. A participating executive may, at his or her option, also
designate a maximum dollar amount of bonus to be converted under this program. 

  

	 	5.	 	The amount of options awarded will be the result of a formula calculated as follows: 

  

	 	a.	 The amount of the cash bonus to be converted; 

 

	 	b.	 Times four; 

  

	 	c.	 Divided by the Deemed Preferred Price. The “Deemed Preferred Price” shall mean the price determined
by dividing (i) the sum of the products of (A) the share price in each of the most recent sales (counting such sales as are necessary to provide for 12 months under part (B) of this clause) of preferred stock of the company and
(B) with respect to each such sale, the number of months (counting only those months completely within the calendar year for which the bonus is awarded) elapsed between such sale and earlier to occur of the next subsequent sale of preferred
stock of the company or the final day of the calendar year by (ii) 12, rounded down to the nearest whole cent. 

  

	 	d.	 Example: The executive is awarded a bonus of $20,000 and has previously elected to take 75% of the bonus
as options. The Deemed Preferred Price was 

 
$3.31. $20,000 times 75% equals $15,000. Times four equals $60,000. Divided by $3.31 equals 18,126 options. So, the executive would receive a cash bonus of $5,000 (the remaining 25%) and 18,126
options on common. 
  

	 	6.	 	The options will have the following characteristics: 

  

	 	a.	 Type:                 Non-qualified Stock Options (NSOs). A condition to the exercise of any options hereunder will be the optionee’s agreement to become a party to and be bound by the provisions set forth in the Company’s
Voting Agreement, dated as of June 23, 2008, as may be amended from time to time. 

  

	 	b.	 Vesting:              Fully vested on
issuance. 

  

	 	c.	 Strike Price:       The Deemed Preferred Price, or the then current price for
common shares, whichever is higher. 

  

	 	d.	 Term:                 Must be
exercised within 10 years of issuance. 

  

	 	e.	 Cashless exercise:         Allowed upon a liquidity event that values
the common. 

  

	 	7.	 	A maximum of 1% of the fully-diluted equity, as of December 31 of the year for which the bonus was awarded, may be issued in any one year to the executive team as a whole (the “Plan Allotment”). If the
executive team has elected to receive options that, in the aggregate, would total more than the Plan Allotment, then a maximum percentage of each person’s bonus to be converted to options will be set such that the 1% threshold is not exceeded.
The highest election or elections, by percentage, shall be reduced first to the amount necessary so that all elections in the aggregate do not exceed the Plan Allotment.EX-10.5.3

 Exhibit 10.5.3 

Biodesix, Inc. Third Amended and Restated Bonus-to-Options
Program 
 Adopted by the Board of Directors on December 31, 2015 

This program is only available to the Chief Executive Officer, direct reports to the Chief Executive Officer and vice presidents of Biodesix, Inc. (the
“company”). This policy will be incorporated into the company’s overall equity incentive policy and may be included in the document describing that policy. Effective beginning as of the company’s 2016 fiscal year, this program
amends and restates in its entirety the prior “bonus to options program” adopted by the board of directors of the company on June 21, 2011. 
  

	 	1.	 Participation in this program is limited to the Chief Executive Officer, direct reports to the Chief Executive
Officer and vice presidents (collectively, the “executives”). 

  

	 	2.	 The program allows executives to convert some or all (depending on availability) of their annual cash bonus
into options on the company’s common stock. 

  

	 	3.	 Executives must declare their intent to participate in this program not later than the last day of the calendar
year prior to the taxable year for which bonuses will be awarded. For example, an election must be made not later than December 31, 2008 to participate in the program with respect to the bonus paid for calendar year 2009, even though any bonus
for calendar year 2009 may actually be paid in 201For the first year in which an executive first becomes eligible to participate (upon initial implementation of this plan or for newly-hired executives), the executive has 30 days to declare his or
her intent to participate in the program. Such election only applies to that portion of bonus payable for services remaining to be performed in that year. Notwithstanding the foregoing, executives hired after September 30 are not eligible for
the current year. 

  

	 	4.	 Participating executives will declare their intent to convert a percentage of their bonus, up to 100%, into
options on the common shares of the company. A participating executive may, at his or her option, also designate a maximum dollar amount of bonus to be converted under this program. 

 

	 	5.	 The amount of options awarded will be the result of a formula calculated as follows: 

 

	 	a.	 The amount of the cash bonus to be converted; 

 

	 	b.	 Times four; 

  

	 	c.	 Divided by the Deemed Preferred Price. The “Deemed Preferred Price” shall mean the price determined
by dividing (i) the sum of the products of (A) the share price in each of the most recent sales (counting such sales as are necessary to provide for 12 months under part (B) of this clause) of preferred stock of the company and
(B) with respect to each such sale, the number of months (counting only those months completely within the 

	 	
calendar year for which the bonus is awarded) elapsed between such sale and earlier to occur of the next subsequent sale of preferred stock of the company or the final day of the calendar year by
(ii) 12, rounded down to the nearest whole cent. 

  

	 	d.	 Example: The executive is awarded a bonus of $20,000 and has previously elected to take 75% of the bonus
as options. The Deemed Preferred Price was $3.3$20,000 times 75% equals $15,00 Times four equals $60,00 Divided by $3.31 equals 18,126 options. So, the executive would receive a cash bonus of $5,000 (the remaining 25%) and 18,126 options on common.

  

	 	6.	 The options will have the following characteristics: 

 

	 	a.	 Type: Non-qualified Stock Options (NSOs). A condition to the exercise
of any options hereunder will be the optionee’s agreement to become a party to and be bound by the provisions set forth in the Company’s Fourth Amended and Restated Voting Agreement, dated as of November 21, 2013, as may be amended
from time to time. 

  

	 	b.	 Vesting: Fully vested on issuance. 

 

	 	c.	 Strike Price: The Deemed Preferred Price, or the then current price for common shares, whichever is higher.

  

	 	d.	 Term: Must be exercised within 10 years of issuance. 

 

	 	e.	 Cashless exercise: Allowed upon a liquidity event that values the common. 

 

	 	7.	 A maximum of 1% of the fully-diluted equity, as of December 31 of the year for which the bonus was
awarded, may be issued in any one year to the executive team as a whole (the “Plan Allotment”). If the executive team has elected to receive options that, in the aggregate, would total more than the Plan Allotment, then a maximum
percentage of each person’s bonus to be converted to options will be set such that the 1% threshold is not exceeded. The highest election or elections, by percentage, shall be reduced first to the amount necessary so that all elections in the
aggregate do not exceed the Plan Allotment. 

  
 2EX-10.9.1

 Exhibit 10.9.1 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS 

BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM TO THE REGISTRANT IF 

PUBLICLY DISCLOSED. [***] INDICATES THAT INFORMATION HAS BEEN REDACTED. 

 
 

 
 February 8, 2018 (revised February 16, 2018) 

Mr. Scott Hutton 
 [***] 

[***] 
 Dear Scott: 

It is my pleasure to offer you the position of Chief Operating Officer at Biodesix, Inc. (“Biodesix” or the “Company”) beginning on
March 1, 2018. As Chief Operating Officer you will be reporting to David Brunel, Chief Executive Officer, who will be primarily responsible for evaluating your performance. In this position you will be overseeing our organization’s ongoing
operations and procedures with the goal of securing the functionality of business to drive extensive and sustainable growth. You will work primarily from our Boulder facility. The Company may change your position, title, duties, and place of
employment from time to time as it deems necessary. 
 This letter and the accompanying enclosures state the complete terms and conditions of your offer.
This offer will expire if not accepted within two weeks of the date of this letter, shown above. 
 Our benefits, payroll, and other human resource
management services are provided through TriNet Employer Group, Inc., a professional employer organization. As a result of Biodesix’s arrangement with TriNet, TriNet will be considered your employer of record for these purposes, and your
managers at Biodesix will be responsible for directing your work, reviewing your performance, and setting your schedule at Biodesix. 
 Compensation:
Your base salary will be $22,916.67 per month, or $275,000 annualized, less all deductions and withholdings. Salaries are paid twice per month. The Company may modify your compensation from time to time in its sole discretion. 

Mobile Phone Allowance: In addition to the salary above, you will receive a taxable mobile phone allowance of $125 per month. This allowance is
intended to cover business use of your personal cell phone. 
 Equity: Subject to the approval of the Board of Directors of the Company, you may be
eligible to receive an option to purchase 500,000 shares of common stock at an exercise price per share equal to the fair market value of the Company’s common stock as determined by the Board on the date

  
 Biodesix, Inc. •
2970 Wilderness Place, Suite 100 • Boulder, CO • Office 303 417 0500 • 
 Fax 303 417 9700 • www.biodesix.com 

 Scott Hutton 
 
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 February 8, 2018 

the Board approves and grants such option (“Option”). The vesting schedule and all terms, conditions, and limitations of the Option will be set
forth in a stock option grant notice, the Company’s standard stock option agreement and the Company’s 2016 Equity Incentive Plan. You must be employed by the Company on the date the Options are approved. 

Bonus: You have the potential of achieving a bonus of up to 50% of your base salary (as actually paid in a given year) if you achieve certain
milestones and objectives determined by the Company. Such bonus, if any, will be paid after the close of the Company’s financial year, after validation and approval from the Company’s Board of Directors that relevant objectives have been
achieved, and provided the Company has the financial wherewithal to pay. To be eligible for any Bonus, you must have begun your employment with the Company on or before September 30 of the year for which the Bonus is awarded, and you must be
employed by the Company at the time any Bonus amount is to be paid. Bonuses are not earned until they are approved in writing by the Board of Directors of the Company. 

Benefits: Upon acceptance of full-time employment, you will also be eligible to receive the same benefits available to all US employees of the Company
which include vacation and sick leave, health insurance, dental insurance, a vision plan, and any other benefit plans offered by the Company. Full-time employees are entitled to 8 days of sick leave per year, which you will be eligible to use
commencing with your first day of employment at the Company. Your annual vacation will be 20 days per year, which will accrue upon commencement of employment. If any sick days are unused at the end of the year they will not carry over to the
following year. Vacations must be scheduled in consultation with your supervisor in order to minimize the disruption to the Company’s business. In general, one week’s notice should be provided for each day off requested. The Company may
modify your benefits from time to time in its sole discretion. 
 Confidentiality and Inventions Assignment Agreement: One of the conditions of your
employment with the Company is the maintenance of the confidentiality of the Company’s proprietary and confidential information. In your work for the Company, you will be expected not to use or disclose any confidential information, including
trade secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information that is generally known and used by persons with training and experience comparable to
your own, which is common knowledge in the industry or otherwise legally in the public domain or which is otherwise provided or developed by the Company. You also should not bring onto the Company premises any unpublished documents or property
belonging to any former employer or other person to whom you have an obligation of confidentiality. During our discussions about your proposed job duties, you assured us that you would be able to perform those duties within the guidelines described
above. Before your start date, you must therefore execute the Company’s Confidentiality and Inventions Assignment Agreement (“CIIA”), which you will find attached hereto as Attachment A. However, your commencement of employment shall
constitute acceptance of all the terms and conditions in the Company’s Confidentiality and Inventions Assignment Agreement. 
 Expenses: The
Company will reimburse you for reasonable and necessary expenses incurred by you in furtherance of Biodesix’ business. All expenses claimed are subject to the review and 

  
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 Scott Hutton 
 
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approval of your supervisor. Records must be maintained and submitted for any expenses to be reimbursed, including destination for auto mileage totals and
receipts for all other items. Use of a personal automobile for company business will be reimbursed at the applicable IRS per-mile rate in effect. 

Termination of Employment: You and Biodesix each acknowledge that either party has the right to terminate your employment with Biodesix at any time for
any reason whatsoever, with or without cause or advance notice, subject only to the following: 
 a.    Resignation,
Termination for Cause or due to Death or Disability. In the event you resign your employment with Biodesix, or your employment is terminated by Biodesix for Cause or due to death or disability, the Company’s obligation to make payments
hereunder shall cease, except that the Company shall pay you or, as applicable, your heirs or assigns, any salary earned but unpaid prior to such termination, any reimbursable business expenses that were incurred but not reimbursed as of the date of
your last day of employment, and, if applicable, all accrued but unused vacation. Vesting of any unvested stock options or other equity securities shall cease on your last date of employment. 

b.    Termination by the Company without Cause. If your employment with the Company is terminated by the Company
without Cause, including but not limited to a termination following a Change in Control (as defined in the Company’s 2016 Equity Incentive Plan) or, following a Change in Control, a successor’s failure to assume the terms and conditions of
this letter Agreement as it relates to your salary, duties and responsibilities or severance provisions, and subject to your compliance with the obligations set forth below, you will receive the following Severance Benefits: (i) Severance
Payments. Base salary continuation for a period of twelve months following the effective date of the Release (the “Severance Payments”), less standard deductions and withholdings; and (ii) COBRA Reimbursement. If you timely
elect continued coverage under COBRA, the Company will pay your COBRA premiums to continue your coverage (including coverage for your eligible dependents, if applicable) (“COBRA Premiums”) through the period starting on the
termination date and ending twelve months after the termination date (the “COBRA Premium Period”); provided, however, that the Company’s provision of such COBRA Premium benefits will immediately cease if during the COBRA
Premium Period you become eligible for group health insurance coverage through a new employer or you cease to be eligible for COBRA continuation coverage for any reason, including plan termination. 

c.    Release Requirement. The Severance Benefits are conditional upon (a) you delivering to the Company and
making effective an irrevocable a general release of all claims in favor of the Company, in a form reasonably acceptable to the Company (the “Release”), which release shall be effective not later than 45 days following the date
of the applicable termination or resignation; and (b) your continued compliance with the Release including any cooperation, non-disparagement or confidentiality provisions contained therein and continuing
to comply with your obligations under the CIIA, including non-solicit provisions thereof. 

d.    Cause. As used in this Agreement, “Cause” means the occurrence of one or more of the
following: (a) failure to perform your assigned duties or responsibilities as a service 

  
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provider which continues beyond thirty (30) days after a written demand for substantial performance is delivered to you by the Company; (b) engaging
in any act of dishonesty, fraud or misrepresentation that has caused, might reasonably have been expected to cause, or is reasonably likely to cause in the future, material harm to the Company, including material reputational harm to the Company;
(c) violation of any federal or state law or regulation applicable to the business of the Company or its affiliates and such violation has caused, might reasonably have been expected to cause, or is reasonably likely to cause in the future,
material harm to the Company; (d) material breach of any confidentiality agreement or invention assignment agreement between you and the Company (or any affiliate of the Company); or (e) being charged by a law enforcement agency with any
felony. 
 Code 409A Compliance. To the extent any payments or benefits pursuant to this offer letter Agreement are paid from the date of termination
of your employment through March 15 of the calendar year following such termination, such Severance Payments are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the
Treasury Regulations and thus payable pursuant to the “short-term deferral” rule set forth in Section 1.409A-1(b)(4) of the Treasury Regulations, (b) are paid following said March 15,
such Severance Payments are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations made upon an involuntary separation from service and payable
pursuant to Section 1.409A-1(b)(9)(iii) of the Treasury Regulations, to the maximum extent permitted by said provision, (c) represent the reimbursement or payment of costs for outplacement services,
such payments are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations and to qualify for the exception from deferred compensation pursuant to Section 1.409A-1(b)(9)(v)(A), and (d) are in excess of the amounts specified above, such Severance Payments shall (unless otherwise exempt under Treasury Regulations) be considered separate payments
subject to the distribution requirements of Section 409A(a)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”), including the requirement of Section 409A(a)(2)(B)(i) of the Code that payments or benefits
be delayed until 6 months after your separation from service if you are a “specified employee” within the meaning of such section of the Code at the time of such separation from service. In the event that a six month delay of any such
separation payments or benefits is required, on the first regularly scheduled pay date following the conclusion of the delay period, you shall receive a lump sum payment or benefit in an amount equal to the separation payments and benefits that were
so delayed, and any remaining separation payments or benefits shall be paid on the same basis and at the same time as otherwise specified pursuant to this Agreement (subject to applicable tax withholdings and deductions). 

Company Property: During and after your employment, you will not use any Company Property (defined below) for any purpose other than for the benefit of
the Company. In the event of your termination of employment, or at any time at the request of the Company, you will return all Company Property. You will also return all copies of Company Property and any work product derived from Company Property.

 “Company Property” means trade secrets of Biodesix, work product, customer lists, prospect lists, forms, manuals, records, correspondence,
contracts, notes, memoranda, notebooks and other 

  
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documents of the Company, software media, equipment, and other intangible and tangible property owned by the Company. 

Name & Likeness Rights: You hereby authorize the Company to use, reuse, and to grant others the right to use and reuse your
name, Company-originated photograph, Company-originated voice recording, biographical information relevant to your professional status, and any reproduction or simulation thereof, in any media now known or hereafter developed (including but not
limited to film, video, and digital, or other electronic media), both during and after your employment. 

At-Will Employment: As Biodesix is the company for which you will perform service, we will retain the right to
control and direct your work, its results, and the manner and means by which your work is accomplished. Your employment with the Company is at will, and therefore, may be terminated by you or the Company at any time and for any reason, with or
without cause, and with or without notice. Any contrary representations or agreements, which may have been made to you, are superseded by this offer. The “at will” nature of your employment described in this offer letter shall constitute
the entire agreement between you and the Company concerning the nature and duration of your employment. In addition, the fact that the rate of your salary or other compensation is stated in units of years or months and that your vacation and sick
leave accrue annually or monthly does not alter the at-will nature of the employment, and does not mean and should not be interpreted to mean that you are guaranteed employment to the end of any period of time
or for any period of time. The “at will” term of your employment with the Company can only be changed in writing and signed by you and the Chief Executive Officer of the Company. 

Exempt Employment: As an exempt, salaried employee, you will be expected to work additional hours as required by the nature of your work assignments.

 Additional Benefits: As stated above, Biodesix has contracted with TriNet to provide payroll, benefits, and HR administration services on behalf
of Biodesix. Information about these benefits will be available on-line over the web on the terms and conditions included in the End User License Agreement (EULA) each new employee must accept in order to
access TriNet’s on-line self-service portal, HR Passport. 
 Miscellaneous: This letter states the
complete and exclusive terms and conditions of your employment and supersedes any and all prior agreements, whether written or oral. By joining the Company, you are agreeing to abide by all laws and regulations, all Company policies and procedures,
to acknowledge in writing that you have read the Company’s Employee Handbook and that you are bound by the terms and conditions of the Company’s Confidentiality and Inventions Assignment Agreement. Violations of these policies may lead to
immediate termination of employment. As required by law, this offer is subject to satisfactory proof of your right to work in the United States. Further, this offer is contingent upon the completion of a background and security check. By accepting
this offer below, you are hereby providing your approval of the Company’s efforts and activities in this regard. 
 We look forward to having you join
us at Biodesix. If you wish to accept this offer under the terms and conditions described above, please sign and date this letter and the attached Confidentiality 

  
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and Inventions Assignment Agreement and return them to me. In addition, please bring the necessary documents required to verify your identity and eligibility
to work in the United States on your reporting date. A list of acceptable documents is described on the enclosed 1-9 form. Also, if you have not already done so, please complete the enclosed Application
for Employment, New Employee Information, and Sterling Authorization for Background Check for our files and submit it prior to your first day of work. 
 We
are all excited about the opportunity to work with you. On behalf of all our team members, let me extend a sincere Welcome Aboard! 
 Sincerely, 

/s/ Jim
Purvis                                        
         
 Jim Purvis 

Vice President of Human Resources 
 Enclosures: I-9 Form, Application for Employment, Sterling Authorization for Background Check, New Employee Information, Business Card Order Form, Instructions 

I accept the above terms of employment as stated: 
  

					
			
	/s/ Scott Hutton	 		 	2/16/2018
	Scott Hutton	 		 	Date

  
 6

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