Document:

EX-10.2

 Exhibit 10.2 

STOCK OPTION AWARD AGREEMENT 

INFUSYSTEM HOLDINGS, INC. 

EQUITY PLAN 
 A stock
option (the “Option”) for a total of 200,000 shares (the “Shares”) of common stock, par value $0.0001 per share (“Common Stock”) of InfuSystem Holdings, Inc. (the “Company”), is hereby granted to Richard
DiIorio (the “Optionee”). The Option in all respects is subject to the terms and conditions of the InfuSystem Holdings, Inc. Equity Plan (the “Plan”), which is incorporated by reference herein, and the receipt of which is hereby
acknowledged by Optionee. Any capitalized terms that are not defined in this Agreement shall have the same meaning as in the Plan. 
 1.
Option Price. The exercise price is $2.00 for each Share, being 100% or more of the Market Value of the Shares on the Date of Grant specified below. 

2. Expiration Date. The expiration date for the Option is the fifth anniversary of the Date of Grant. 

3. Vesting. This Option shall be become vested and exercisable, subject to the provisions of Section 4 below, ratably over
a four year period on a monthly basis beginning on December 15, 2017. 
 All further vesting shall cease upon termination
of Optionee’s service as an employee or director of the Company and its Subsidiaries. 
 4. Exercise. 

(a) Method of Exercise. This Option shall be exercisable by a written notice which shall: 

(i) state the election to exercise the Option, the number of Shares with respect to which it is being exercised, the person in
whose name the stock certificate or certificates for such Shares is to be registered, and his address and Social Security Number (or if more than one, the names, addresses and Social Security Numbers of such persons); 

(ii) contain such representations and agreements as to the holder’s investment intent with respect to the Shares to be
acquired upon exercise as required by the Committee; 
 (iii) be signed by the person or persons entitled to exercise the
Option and, if the Option is being exercised by any person or persons other than the Optionee, be accompanied by proof, satisfactory to the Committee, of the right of such person or persons to exercise the Option; and 

(iv) be delivered in person or by certified mail to the Treasurer of the Company or his or her designee. 

 (b) Payment of Exercise Price. Payment of the exercise price for the
Shares with respect to which the Option is exercised shall be made in full in one of the following forms: 
 (i) Certified or
bank cashier’s or teller’s check; or 
 (ii) Delivery to the Company of shares of Common Stock that are free and
clear of any liens, encumbrances, claims or security interests, having an aggregate Market Value, as of the date of exercise, equal to the aggregate exercise price for the Shares being acquired upon exercise of the Option; 

(iii) Withholding by the Company the number of whole Shares, rounded down, to be acquired upon exercise of this Option, with an
aggregate Market Value, equal to or less than the exercise price, with the Optionee paying any remaining exercise price in such other manner as specified in this Section 4(b); or 

(iv) In the Committee’s sole discretion, by the Optionee authorizing a third party to sell Shares acquired upon exercise
of the Option, and to remit to the Company the amount equal to the aggregate exercise price for the Shares being acquired. 

(c) Restrictions on Exercise. This Option may be exercised during Optionee’s lifetime only by the Optionee and
shall not be assignable or transferable otherwise than by will or by the laws of descent and distribution. As a condition to the exercise of this Option, the Company may require the person exercising this Option to make any representation and
warranty to the Company as the Company determines may be required by any applicable law or regulation. 
 (d) Exercise
Term. This Option may not be exercised until six (6) months after the Date of Grant, and will expire and may not be exercised after the earliest of the following: 

(i) the expiration date set out in Section 2 above; or 

(ii) three (3) months after the date Optionee ceased to be an employee or director of the Company and its Subsidiaries,
unless Optionee’s status ended due to death, in which case this Option will expire and may not be exercised more than one (1) year following the date of death. 

5. Non-transferability of Option. This Option may not be transferred in any
manner otherwise than by will or the laws of descent and distribution and may be exercised during the lifetime of Optionee only by Optionee. The terms of this Option shall be binding upon the executors, administrators, heirs, successors and assigns
of Optionee. 
 6. Change in Control. Notwithstanding anything herein to the contrary, in the event of a Change in Control (as
defined below), the Committee will take or cause to be taken one or more of the following actions to be effective as of the date of such Change in Control: 

  
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 (a) provide that the Option shall be assumed, or equivalent options shall be
substituted (“Substitute Options”) by the acquiring or succeeding corporation (or an affiliate thereof), provided that: the shares of stock issuable upon the exercise of such Substitute Options shall constitute securities registered in
accordance with the Securities Act of 1933, as amended (the “1933 Act”), or such securities shall be exempt from such registration in accordance with Sections 3(a)(2) or 3(a)(5) of the 1933 Act (collectively, “Registered
Securities”), or in the alternative, if the securities issuable upon the exercise of such Substitute Options shall not constitute Registered Securities, then the Optionee will receive upon consummation of the Change in Control transaction a
cash payment for the Option surrendered equal to the difference between (1) the fair market value of the consideration to be received for each Share in the Change in Control transaction times the number of Shares subject to the surrendered
Option, and (2) the aggregate exercise price of the surrendered Option; or 
 (b) in the event of a transaction under
the terms of which the holders of the Shares of the Company will receive upon consummation thereof a cash payment (the “Merger Price”) for each Share exchanged in the Change in Control transaction, to make or to provide for a cash payment
to Optionee equal to the difference between (A) the Merger Price times the number of Shares under the Option (to the extent then exercisable at prices not in excess of the Merger Price) and (B) the aggregate exercise price of all such
Shares under the Option in exchange for such Shares under the Option. 
 For purposes of this Agreement, the term “Change in
Control” shall mean (A) the sale of all or substantially all of the assets of the Company; (B) the merger or recapitalization of the Company whereby the Company is not the surviving entity; or (C) the acquisition, directly or
indirectly, of the beneficial ownership (within the meaning of that term as it is used in Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder) of fifty (50%) or more of the
outstanding voting securities of the Company by any person, trust, entity or group. 
 7. Securities Law Compliance.
Notwithstanding anything herein to the contrary, the Option may not be exercised unless the Shares issuable upon such exercise are then registered under the Securities Act of 1933, as amended, or, if such Shares are not so registered, the Committee
has determined that such exercise and issuance would be exempt from the registration requirements of such Act. The exercise of the Option also must comply with other applicable laws and regulations governing the Option, and the Option may not be
exercised if the Company determines that such exercise would not be in material compliance with such laws and regulations. 
 8.
Withholding. The exercise of the Option in whole or in part constitutes authorization for the Company to withhold from payroll and other amounts due Optionee, including, if elected by Optionee, from Shares otherwise issuable upon
exercise of the Option, any amounts required to satisfy any federal, state or local tax withholding obligations that may arise in connection with the Option. The Option may not be exercised unless all such tax withholding obligations are satisfied.
Optionee may elect to have the Company reduce the number of Shares otherwise issuable upon exercise of the Option by the number of whole Shares, rounded down, with a Market Value equal to or less than the amount of the withholding tax due. The
Company will withhold any remaining withholding tax due from other payments owed to the undersigned. 

  
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 9. Related Matters. Notwithstanding anything herein to the contrary, additional
conditions or restrictions related to the Option may be contained in the Plan. 
  

							
		 		 	INFUSYSTEM HOLDINGS, INC.
				
	 Date of Grant: November 15, 2017
	 		 	By:	 	/s/ Gregg Lehman
			
		 		 	 OPTIONEE

				
		 		 		 	 /s/ Richard A. DiIorio

  
 4EX-10.3

 Exhibit 10.3 

STOCK APPRECIATION RIGHT AWARD AGREEMENT 

INFUSYSTEM HOLDINGS, INC. 

EQUITY PLAN 
 Name of
Grantee: Richard A. DiIorio 
 Grant Date: November 15, 2017 

Number of Stock Appreciation Rights: 200,000 

Exercise Price per Stock Appreciation Right: $2.00, being 100% or more of the Market Value of a Share on Grant Date specified above. 

Expiration Date: March 31, 2019. 
 This Agreement
evidences the grant (the “Award”) by InfuSystem Holdings, Inc. (the “Company”) of stock appreciation rights (“SARs”) to the above-referenced “Grantee” as of the “Grant Date” pursuant to the
InfuSystem Holdings, Inc. Equity Plan (the “Plan”), which is hereby incorporated in this Agreement by reference. By accepting the Award, Grantee agrees to be bound in accordance with the provisions of the Plan. The Award is made in
consideration of the services to be rendered by the Grantee to the Company and is subject to the terms and conditions of the Plan. Any capitalized terms that are not defined in this Agreement shall have the same meaning as in the Plan. 

1. Grant of SARs. Grantee is hereby awarded the number of SARs first set forth above. Each SAR entitles the Grantee to receive,
upon exercise, an amount equal to the excess of (i) the Market Value of a Share on the date of exercise, over (ii) the “Exercise Price per Stock Appreciation Right” referenced above (the “Appreciation Value”). The SARs
are being granted pursuant to the terms of the Plan. 
 2. Vesting. 

(a) Vesting based on Share Price. One half of the SARs granted pursuant to this Award (100,000 SARs) will vest
and become exercisable during the period beginning on December 31, 2018, and ending on the Expiration Date, if the Shares have a closing public market price on the New York Stock Exchange of $3.00 or more for any period of ten
(10) consecutive trading days during the period beginning on January 1, 2018, and ending on December 31, 2018. No SARs shall vest after the Grantee’s termination of service as an employee, director, or other service provider of
the Company and its Subsidiaries and any unvested SARs shall not be exercisable after the Grantee’s termination of service as an employee, director, or other service provider of the Company and its Subsidiaries. 

 (b) Vesting based on Achievement of Performance Goals. One-half of the SARs granted pursuant to this Award (100,000 SARs) will vest and become exercisable during the period beginning on December 31, 2018, and ending on the Expiration Date, if the Compensation
Committee certifies that the Company achieved ninety percent (90%) or more of target on both elements of the Company’s corporate objectives under the 2018 Employee Incentive Compensation Plan. No SARs shall vest after the Grantee’s
termination of service as an employee, director, or other service provider of the Company and its Subsidiaries and any unvested SARs shall not be exercisable after the Grantee’s termination of service as an employee, director, or other service
provider of the Company and its Subsidiaries. 
 (c) Expiration. The SARs will expire on the Expiration
Date set forth above, or earlier as provided in this Agreement or the Plan. 
 3. Exercise. 

(a) Time of Exercise. The Grantee (or in the case of exercise after the Grantee’s death, the Grantee’s
executor, administrator, heir or legatee, as the case may be) may exercise his or her vested SARs, in whole or in part, by following the procedures set forth herein. If partially exercised, the Grantee may exercise the remaining unexercised portion
of the SARs at any time after vesting and until the Expiration Date. No SARs shall be exercisable after the earlier of (i) the Expiration Date set out above; or (ii) three (3) months after the date the Grantee ceases to be an employee or
director of the Company and its Subsidiaries, unless the Grantee’s termination of service occurred due to death, in which case the SARs will expire and may not be exercised more than one (1) year following the Grantee’s date of death.

 (b) Election to Exercise. To exercise the SARs, the Grantee (or in the case of exercise after the
Grantee’s death, the Grantee’s executor, administrator, heir or legatee, as the case may be) must deliver a written notice (or notice through another previously approved method, which could include a
web-based or e-mail system) to the Controller of the Company, or his or her designee, which sets forth the number of SARs being exercised, together with any additional
documents the Company may require. Each such notice must satisfy whatever then-current procedures apply to the SARs and must contain such representations as the Company requires. If someone other than the Grantee exercises the SARs, then such person
must submit documentation reasonably acceptable to the Company verifying that such person has the legal right to exercise the SARs. 

(c) Date of Exercise. The SARs shall be deemed to be exercised on the business day that the Company
receives a fully executed exercise notice. If the notice is received after business hours on such date, then the SAR shall be deemed to be exercised on the business day immediately following the business date such notice is received by the Company.

 (d) Restrictions on Exercise. The SARs may be exercised during the Grantee’s lifetime only by
the Grantee and shall not be assignable or transferable otherwise than by will or by the laws of descent and distribution. As a condition to the exercise of the SARs, the Company may require the person exercising the SARs to make any representation
and warranty to the Company as the Company determines may be required by any applicable law or regulation. 

  
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 4. Form of Payment. Upon the exercise of all or a portion of the SARs, the Grantee
shall be entitled to, at the election of the Committee, either (i) a cash payment equal to the Appreciation Value of the SARs being exercised or (ii) Shares (if available under the Plan) with a Market Value equal to the Appreciation Value
of the SARs being exercised, and in each case, less any amounts withheld pursuant to Section 5 of this Agreement. 
 5.
Withholding. The exercise of the SARs in whole or in part constitutes authorization for the Company to withhold from payroll and other amounts due to the Grantee, including, if elected by the Grantee, from the Appreciation Value
payable to the Grantee upon exercise of the SARs, any amounts required to satisfy any federal, state, or local tax withholding obligations that may arise in connection with the SARs. The SARs may not be exercised unless all such tax withholding
obligations are satisfied. 
 6. Non-transferability of SARs. The SARs may not
be transferred in any manner otherwise than by will or the laws of descent and distribution and may be exercised during the lifetime of the Grantee only by the Grantee. The terms of this Agreement shall be binding upon the executor, administrator,
heir, legatee, successor, or assigns, as the case may be, of the SARs. 
 7. Change in Control. Unless otherwise determined by
the Committee at the time of a Change in Control (as defined below), a Change in Control shall have no effect on the SARs. In the event of a Change in Control, the Committee may, in its discretion and upon at least ten (10) days’ advanced
notice to the Grantee, cancel the SARs and pay to the Grantee the Appreciation Value of the SARs based upon the price per share of Shares received or to be received by other shareholders of the Company in the event. Notwithstanding the foregoing, if
at the time of a Change in Control the Exercise Price of the SARs equals or exceeds the price paid for a Share in connection with the Change in Control, the Committee may cancel the SARs. For purposes of this Agreement, the term “Change in
Control” means: (i) the sale of all or substantially all of the assets of the Company; (ii) the merger or recapitalization of the Company whereby the Company is not the surviving entity; or (iii) the acquisition, directly or
indirectly, of the beneficial ownership (within the meaning of that term as it is used in Section 13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder) of fifty percent (50%) or more of
the outstanding voting securities of the Company by any person, trust, entity or group. 
 8. Adjustments. The SARs may be
adjusted or terminated in any manner as contemplated by Section 7 or Section 8.5 of the Plan. 
 9. No Right to Continued
Employment. Neither the Plan nor this Agreement confer upon the Grantee any right to be retained in any position, as an employee, director, Non-Employee Director, or service provider, of the Company or
any Subsidiary. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of the Company or any Subsidiary to terminate the Grantee’s employment at any time, with or without cause. 

  
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 10.
Section 409A; No Deferral of Compensation. Neither the Plan nor this Agreement is intended to provide for the deferral of compensation within the meaning of Section 409A of the
Internal Revenue Code (the “Code”). The Company reserves the right to unilaterally amend or modify the Plan or this Agreement, to the extent the Company considers it necessary or advisable, in its sole discretion, to comply with, or to
ensure that the SARs granted hereunder are not subject to, Section 409A of the Code. 
 11. Notices. Any notice required
to be delivered to the Company under this Agreement shall be in writing and addressed to the Controller of the Company at the Company’s principal corporate offices at 31700 Research Park Drive, Madison Heights, Michigan 48071. Any notice
required to be delivered to the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee’s address as shown in the records of the Company. Either party may designate another address in writing (or by such
other method approved by the Company) from time to time. 
 12. Governing Law. This Agreement will be construed and
interpreted in accordance with the laws of the State of Delaware, without giving effect to any choice of law or conflict of law provision or rule (whether of Delaware or any other jurisdiction) that would cause the application of the laws of any
jurisdiction other than the State of Delaware. 
 13. Interpretation. Any dispute regarding the interpretation of this
Agreement shall be submitted by the Grantee or the Company to the Committee for review. The resolution of such dispute by the Committee shall be final and binding on the Grantee and the Company. 

14. SARs Subject to Plan. This Agreement is subject to the Plan as approved by the Company’s shareholders.
The terms and provisions of the Plan as it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable
terms and provisions of the Plan will govern and prevail. 
 15. Successors and Assigns. The Company may assign any of its
rights under this Agreement. This Agreement will be binding upon and inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding upon the Grantee and the
Grantee’s beneficiaries, executors, administrators and the person(s) to whom the SARs may be transferred by will or the laws of descent or distribution. 

16. Severability. The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the
validity or enforceability of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and enforceable to the extent permitted by law. 

17. Discretionary Nature of Plan. The Plan is discretionary and may be amended, cancelled or terminated by the Company at any
time, in its discretion. The grant of the SARs in this Agreement does not create any contractual right or other right to receive any SARs or other Awards in the future. Future Awards, if any, will be at the sole discretion of the Company. Any
amendment, modification, or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Grantee’s employment with the Company. 

  
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 18. Acceptance. The Grantee hereby acknowledges receipt of a copy of the Plan and
this Agreement. The Grantee has read and understands the terms and provisions thereof, and accepts the SARs subject to all of the terms and conditions of the Plan and this Agreement. The Grantee acknowledges that there may be adverse tax
consequences upon exercise of the SARs and that the Grantee should consult a tax advisor prior to such exercise. 
 The parties hereto have executed this
Agreement as of the date first above written. 
  

			
	INFUSYSTEM HOLDINGS, INC.

 
			
		
	By:	 	 /s/ Gregg Lehman

	Name:	 	 Gregg Lehman

	Title:	 	 Executive Chairman of the Board

	Date:	 	 November 15, 2017

	
	 GRANTEE

		
	By:	 	 /s/ Richard A. DiIorio

	Name:	 	Richard A. DiIorio
	Date:	 	 November 15, 2017

  
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