Document:

EX-10.2

ADVENTRX Pharmaceuticals, Inc. 2008 Omnibus Incentive Plan

Incentive Stock Option Grant Agreement

THIS INCENTIVE STOCK OPTION GRANT AGREEMENT (this “Agreement”), effective as of       ,
2010 (the “Grant Date”), is entered into by and between ADVENTRX Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), and Patrick L. Keran (the “Grantee”).

1. Grant of Option. The Company hereby grants to the Grantee a stock option (the
“Option”) to purchase 1,600,000 shares of common stock of the Company, par value $0.001 per share
(the “Shares”), at the exercise price of $    per Share (the “Exercise Price”). The Option
is intended to qualify as an incentive stock option under Section 422 of the Code.

2. Subject to the Plan. This Agreement is subject to the provisions of the ADVENTRX
Pharmaceuticals, Inc. 2008 Omnibus Incentive Plan (the “Plan”), and, unless the context requires
otherwise, terms used herein shall have the same meaning as in the Plan. In the event of a
conflict between the provisions of the Plan and this Agreement, the Plan shall control.

3. Term of Option. Unless the Option terminates earlier pursuant to the provisions of
this Agreement, the Option shall expire on the tenth anniversary of the Grant Date.

4. Vesting. The Option shall become vested with respect to twenty-five percent (25%)
of the Shares on each of January 1, 2011, January 1, 2012, January 1, 2013 and January 1, 2014;
provided, however, that the Grantee is then providing Services.

5. Exercise of Option

(a) Manner of Exercise. To the extent vested, the Option may be exercised, in whole
or in part, by delivering written notice to the Company in accordance with paragraph (g) of Section
8 in such form as the Company may require from time to time. Such notice shall specify the number
of Shares subject to the Option as to which the Option is being exercised, and shall be accompanied
by full payment of the Exercise Price of such Shares in a manner permitted under the terms of
Section 5.5 of the Plan, except that payment with previously acquired Shares may only be made with
the consent of the Committee. The Option may be exercised only in multiples of whole Shares and no
fractional Shares shall be issued.

(b) Issuance of Shares. Upon exercise of the Option and payment of the Exercise
Price for the Shares as to which the Option is exercised, the Company shall issue to the Grantee
the applicable number of Shares in the form of fully paid and nonassessable Shares.

(c) Capitalization Adjustments. The number of Shares subject to the Option and the
Exercise Price shall be equitably and appropriately adjusted, if applicable, as provided in Section
12.2 of the Plan.

(d) Withholding. No Shares will be issued on exercise of the Option unless and until
the Grantee pays to the Company, or makes satisfactory arrangements with the Company for payment
of, any federal, state or local taxes required by law to be withheld in respect of the exercise of
the Option. The Grantee hereby agrees that the Company may withhold from the Optionee’s wages or
other remuneration the applicable taxes. At the discretion of the Company, the applicable taxes
may be withheld in kind from the Shares otherwise deliverable to the Grantee on exercise of the
Option, up to the Grantee’s minimum required withholding rate or such other rate that will not
trigger a negative accounting impact.

(e) Notice of Disposition. Grantee agrees to notify the Company in writing within
fifteen (15) days after the date of any disposition of any of the Shares issued upon exercise of
the Option that occurs within the later of two (2) years after the Grant Date or within one (1)
year after such Shares are transferred to the Grantee.

6. Termination of Option

(a) Termination of Employment or Service Relationship Other Than Due to Retirement, Death,
Disability, Involuntary Termination or Cause. Unless the Option has earlier terminated, the
Option shall terminate in its entirety, regardless of whether the Option is vested, ninety (90)
days after the date the Grantee ceases to provide Services for any reason other than, as
applicable, the Grantee’s Retirement, death, Disability, Involuntary Termination or termination for
Cause. Except as provided in paragraphs (b), (c), (d) or (e) of this Section, any portion of the
Option that is not vested at the time the Grantee ceases to provide Services shall immediately
terminate.

(b) Retirement. Upon the Retirement of the Grantee, unless the Option has earlier
terminated, the Option shall continue in effect (and, for purposes of vesting pursuant to Section
4, the Grantee shall be deemed to continue to be providing Services) until the earlier of (i) two
(2) years after the Grantee’s Retirement (or, if later, the fifth anniversary of the Grant Date) or
(ii) the expiration of the Option’s term pursuant to Section 3. For purposes of this Agreement,
“Retirement” shall mean termination of the Grantee’s employment with the Company and its
Subsidiaries, or a successor company (or a subsidiary or parent thereof) and their respective
subsidiaries, other than for Cause (a) if (i) the Grantee is then at least age 60 and (ii) the sum
of the Grantee’s age and years of continuous service with the Company and its Subsidiaries is then
equal to at least 70 or (b) if the Committee characterizes such termination as a “Retirement” for
purposes of this Agreement. For clarity, this Section 6(b) shall apply only to Grantees who are
Employees at the time of termination.

(c) Death. Upon the Grantee’s death, unless the Option has earlier terminated, the
Grantee’s executor or personal representative, the person to whom the Option shall have been
transferred by will or the laws of descent and distribution, or such other permitted transferee, as
the case may be, may exercise the Option in accordance with paragraph (a) of Section 5, to the
extent vested, provided such exercise occurs within twelve (12) months after the date of
the Grantee’s death or by the end of the term of the Option pursuant to Section 3, whichever is
earlier.

(d) Disability. In the event that the Grantee ceases to provide Services by reason of
Disability, unless the Option has earlier terminated, the Option may be exercised, in accordance
with paragraph (a) of Section 5, to the extent vested, provided such exercise occurs within
six (6) months after the date of Disability or by the end of the term of the Option pursuant to
Section 3, whichever is earlier. For purposes of this Agreement, “Disability” shall mean the
Grantee’s becoming disabled within the meaning of Section 22(e)(3) of the Code, or as otherwise
determined by the Committee in its discretion. The Committee may require such proof of Disability
as the Committee in its sole and absolute discretion deems appropriate and the Committee’s
determination as to whether the Grantee has incurred a Disability shall be final and binding on all
parties concerned.

(e) Involuntary Termination. In the event that the Grantee ceases to provide
Services as an Employee by reason of an Involuntary Termination, unless the Option has earlier
terminated, the Option shall, immediately prior to such Involuntary Termination, vest and become
exercisable with respect to 25% of the total number of Shares subject to this Option (or 400,000
Shares), and the Option may be exercised, in accordance with paragraph (a) of Section 5, to the
extent vested as of such Involuntary Termination (for clarity, after taking into account the
foregoing acceleration provision of this paragraph (e)), provided such exercise occurs by
the close of business on the last calendar day of the 12th full calendar month following
the date of such Involuntary Termination. For purposes of this Agreement, “Involuntary
Termination” shall mean: (i) without the Grantee’s express written consent, an action by the
Company’s Board of Directors or external events causing or immediately portending a material
reduction or alteration of the Grantee’s duties, position or responsibilities relative to the
Grantee’s duties, position or responsibilities in effect immediately prior to such reduction or
alteration, or the removal of the Grantee from such position, duties or responsibilities;
provided, however, that an “Involuntary Termination” under this clause (e)(i) shall not be
deemed to occur if the Grantee remains the head of and most senior individual within the Company’s
(or its successor’s, or such successor’s subsidiary’s or parent’s) legal function; (ii) without the
Grantee’s express written consent, a material reduction by the Company of the Grantee’s base salary
as in effect immediately prior to such reduction; (iii) without the Grantee’s express written
consent, the relocation of the Grantee’s principal place of employment with the Company by more
than fifty (50) miles; or (iv) any termination of the Grantee by the Company without Cause or as a
result of the Retirement of the Grantee.

(f) Termination for Cause. Upon termination by the Company or a Subsidiary or a
successor company (or a subsidiary or parent thereof) of the Grantee’s employment or service
relationship for Cause, unless the Option has earlier terminated, the Option shall immediately
terminate in its entirety and shall thereafter not be exercisable to any extent whatsoever. For
purposes of this Agreement, “Cause” shall mean (i) any act of personal dishonesty taken by the
Grantee in connection with his or her responsibilities as an employee which is intended to result
in substantial personal enrichment of the Grantee; (ii) Grantee’s conviction of a felony that the
Company’s Board of Directors reasonably believes has had or will have a material detrimental effect
on the Company’s reputation or business; (iii) a willful act by the Grantee that constitutes
misconduct and is materially injurious to the Company; or (iv) continued willful violations by the
Grantee of the Grantee’s obligations to the Company after there has been delivered to the Grantee a
written demand for performance from the Company that describes the basis for the Company’s belief
that the Grantee has not substantially performed his or her duties.

(f) Automatic Extension of Exercise Period. Notwithstanding any provisions of
paragraphs (a), (b), (c), (d) or (e) of this Section to the contrary, if exercise of the Option
following termination of employment or service during the time period set forth in the applicable
paragraph or sale during such period of the Shares acquired on exercise would violate any of the
provisions of federal securities laws (or any Company policy related thereto), the time period to
exercise the Option shall be extended until the later of (i) forty-five (45) days after the date
that the exercise of the Option and sale of the Shares acquired on exercise would not be a
violation of federal securities laws (or a related Company policy), or (ii) the end of the time
period set forth in the applicable paragraph.

7. Change in Control.

(a) Effect on Option. In the event of a Change in Control, unless the Option has
earlier terminated, the Option shall vest and become exercisable with respect to fifty percent
(50%) of the then unvested Shares on the day prior to the date of the Change in Control and shall
vest and become exercisable with respect to the remaining fifty percent (50%) of the then unvested
Shares on the one (1) year anniversary of the Change in Control; provided, however, that
the Grantee is then providing Services.

(b) Assumption or Substitution. Subject to paragraph (a) of this Section 7, in the
event of a Change in Control, to the extent the successor company (or a subsidiary or parent
thereof) does not assume or substitute for the Option on substantially the same terms and
conditions (which may include settlement in the common stock of the successor company (or a
subsidiary or parent thereof)), the Option (i) shall become fully vested and exercisable on the day
prior to the date of the Change in Control if the Grantee (A) is then providing Services or (B) was
the subject of an Involuntary Termination in connection with, related to or in contemplation of the
Change in Control and (ii) may be exercised, in accordance with paragraph (a) of Section 5,
provided such exercise occurs by the close of business on the last calendar day of the
24th full calendar month following the date of such Involuntary Termination.

(c) Tail. Subject to paragraph (a) of this Section 7, in the event of a Change in
Control, to the extent the successor company (or a subsidiary or parent thereof) assumes or
substitutes for the Option on substantially the same terms and conditions (which may include
providing for settlement in the common stock of the successor company (or a subsidiary or parent
thereof)), and in the event of an Involuntary Termination of the Grantee within 12 months following
the date of the Change in Control, the Option shall become fully vested and exercisable, and may be
exercised by the Grantee at any time until the close of business on the last calendar day of the
24th full calendar month following the date of such Involuntary Termination.

8. Miscellaneous.

(a) No Rights of Stockholder. The Grantee shall not have any of the rights of a
stockholder with respect to the Shares subject to this Option until such Shares have been issued
upon the due exercise of the Option.

(b) No Registration Rights; No Right to Settle in Cash. The Company has no obligation
to register with any governmental body or organization (including, without limitation, the U.S.
Securities and Exchange Commission (“SEC”)) any of (a) the offer or issuance of any Award, (b) any
Shares issuable upon the exercise of any Award, or (c) the sale of any Shares issued upon exercise
of any Award, regardless of whether the Company in fact undertakes to register any of the
foregoing. In particular, in the event that any of (x) any offer or issuance of any Award, (y) any
Shares issuable upon exercise of any Award, or (z) the sale of any Shares issued upon exercise of
any Award are not registered with any governmental body or organization (including, without
limitation, the SEC), the Company will not under any circumstance be required to settle its
obligations, if any, under this Plan in cash.

(c) Nontransferability of Option. The Option shall be nontransferable otherwise than
by will or the laws of descent and distribution, and during the lifetime of the Grantee, the Option
may be exercised only by the Grantee or, during the period the Grantee is under a legal disability,
by the Grantee’s guardian or legal representative. Notwithstanding the foregoing, the Grantee may,
by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the
Company, designate a third party who, in the event of the Grantee’s death, shall thereafter be
entitled to exercise the Option.

(d) Severability. If any provision of this Agreement shall be held unlawful or
otherwise invalid or unenforceable in whole or in part by a court of competent jurisdiction, such
provision shall (i) be deemed limited to the extent that such court of competent jurisdiction deems
it lawful, valid and/or enforceable and as so limited shall remain in full force and effect, and
(ii) not affect any other provision of this Agreement or part thereof, each of which shall remain
in full force and effect.

(e) Governing Law. This Agreement shall be governed by, and interpreted in accordance
with, the laws of the State of California, other than its conflict of laws principles.

(f) Headings. The headings in this Agreement are for reference purposes only and
shall not affect the meaning or interpretation of this Agreement.

(g)  Notices. All notices required or permitted under this Agreement shall be in
writing and shall be sufficiently made or given if hand delivered or mailed by registered or
certified mail, postage prepaid. Notice by mail shall be deemed delivered on the date on which it
is postmarked.

Notices to the Company should be addressed to:

ADVENTRX Pharmaceuticals, Inc.

6725 Mesa Ridge Road, Suite 100

San Diego, CA 92121

Attention: Legal

Notice to the Grantee should be addressed to the Grantee at the Grantee’s address as it
appears on the records of the Company or a Subsidiary or a successor company (or a subsidiary or
parent thereof).

The Company or the Grantee may by writing to the other party, designate a different address
for notices. If the receiving party consents in advance, notice may be transmitted and received
via facsimile or via such other electronic transmission mechanism as may be available to the
parties. Such notices shall be deemed delivered when received.

(h) Agreement Not a Contract.  This Agreement (and the grant of the Option) is not an
employment or service contract, and nothing in the Option shall be deemed to create in any way
whatsoever any obligation on Grantee’s part to continue as an employee or director of or consultant
to the Company or a Subsidiary or a successor company (or a subsidiary or parent thereof), or of
the Company or a Subsidiary or a successor company (or a subsidiary or parent thereof) to continue
Grantee’s service as such an employee, director or consultant.

(i) Entire Agreement; Modification. This Agreement and the Plan contain the entire
agreement between the parties with respect to the subject matter contained herein and may not be
modified, except as provided in the Plan or in a written document signed by each of the parties
hereto, and may be rescinded only by a written agreement signed by both parties.

IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the Grant Date.

ADVENTRX PHARMACEUTICALS, INC.

By:      

      

GranteeEX-10.3

2010 INCENTIVE PLAN

This 2010 Incentive Plan (this “Plan”) of ADVENTRX Pharmaceuticals, Inc. (“Adventrx” or the
“Company”) is designed to offer incentive compensation to certain employees of the Company (as
described under the “Eligibility” section below (“Participants”)), by rewarding the achievement of
near-term corporate objectives.

Purpose of this Plan

This Plan is designed to:

	 	•	 	provide an incentive program to achieve near-term corporate objectives and thereby
enhance stockholder value;

	 	•	 	reward key employees who significantly impact corporate results;

	 	•	 	incorporate an incentive program in Adventrx’s overall compensation strategy to help
attract and retain key employees; and

	 	•	 	incentivize Participants to remain employed by Adventrx throughout the plan period and
until the time incentive awards are paid.

Plan Period

The plan period under this Plan is the period beginning January 1, 2010 and ending December 31,
2010.

Plan Governance

This Plan will be governed by the Compensation Committee (the “Committee”) of the Board of
Directors of the Company (the “Board”). The Committee will be responsible for determining and
approving all awards to all Participants.

Eligibility

This Plan applies to Brian M. Culley and Patrick L. Keran.

Form of Incentive Award Payments

Incentive award payments generally will be made in cash, though the Committee has sole and absolute
discretion to determine the composition of individual incentive award payments.

Corporate Objectives

This Plan calls for incentive awards based on the achievement of near-term corporate objectives by
the Company. At the time of adoption of this Plan, the Committee will adopt corresponding
near-term corporate objectives for the plan period, which objectives will be specific and
measurable and individually weighted with respect to all corporate objectives.

If an approved corporate objective becomes irrelevant or undesirable during the plan period or if a
strategic change or other event affects (one or more) objectives then, for each such affected
objective, the Committee, after considering the recommendations of the Participants, may (i) adjust
the weighting of all existing objectives to reflect an appropriate relative weighting in light of
then-prevailing conditions, (ii) substitute a new objective with an appropriate weighting (and, if
appropriate, adjust the weighting of existing objectives, regardless of whether the weighting of
the new objective is other than the weighting of the substituted objective), (iii) eliminate the
affected objective and re-weight all other objectives or (iv) take no action.

Incentive Award Targets

Incentive awards generally will consist of cash-based compensation.

The target amount of incentive awards will be $150,000.

Award Multipliers

A corporate “award multiplier” will be determined in the first quarter of 2011 and applied to
Participants’ target amounts to establish the actual payout amount of the incentive awards. A
corporate award multiplier will be based on overall corporate performance against the corporate
objectives in effect at the end of 2010 and will be the same for all Participants. Award
multipliers may have the affect of increasing or decreasing a Participant’s actual payout amount
versus his target amount.

The corporate award multiplier will be determined by the Committee.

In determining the achievement of objectives and award multipliers, the Committee will consider the
achievement of objectives, the degree to which an objective is partially achieved, the quality of
achievement, the difficulty in achieving the objective, conditions that affected the ability to
achieve objectives and such other factors as the Committee determines are appropriate to consider.

Award multipliers range from 0 to 1.50.

Payment of Incentive Awards

Notwithstanding any other provision of this Plan, each Participant’s award, if any, will be paid in
a single sum after December 31, 2010 and on or before March 14, 2011. Unless an exemption applies,
this Plan and the awards paid pursuant to this Plan are intended to meet the requirements of
Section 409A of the Internal Revenue Code of 1986, as amended.

Termination

Subject to contractual obligations, (a) any award payment provided for under this Plan is
completely discretionary and is not considered earned by a Participant until it is actually paid.
Continued employment until payment of the incentive award is required and (b) if the employment of
a Participant is terminated (whether voluntarily or involuntarily) during the plan period, or prior
to payment of awards, whether or not an award payment is made will be at the absolute discretion of
the Committee.

1

Absolute Right to Alter or Abolish this Plan; Disputes

Subject to contractual obligations, the Committee reserves the right in its absolute discretion to
abolish this Plan at any time or to alter the terms and conditions under which incentive awards
will be paid, with or without cause and with or without prior notice. Such discretion may be
exercised any time before, during, and after the plan period has commenced or is completed.

Any dispute or controversy arising under this Plan will be settled by the Committee in its sole and
absolute discretion.

Employment Duration/Employment Relationship

This Plan does not, and Adventrx’s policies and practices in administering this Plan do not,
constitute an express or implied contract or other agreement concerning the duration of any
Participant’s employment with the Company. The employment relationship of each Participant is “at
will” and may be terminated at any time by Adventrx or by the Participant, with or without cause.

Other Terms and Conditions of this Plan

The Company is not responsible for any tax liability incurred by Participants that receive an award
under this Plan, but reserves the right to deduct from any award payment an amount equal to all or
any part of the deductions or taxes required by law to be withheld by the Company.

This Plan is unfunded and no provision of this Plan shall require the Company, for the purpose of
satisfying any Plan obligations, to purchase assets or place any assets in a trust or other entity
or otherwise to segregate any assets for such purposes. Nothing contained in this Plan nor any
action taken pursuant to its provisions shall create or be construed to create a fiduciary
relationship between the Company and any Participant or other person. Any right to receive an
award payment under this Plan shall be no greater than the right of any unsecured creditor of the
Company.

This Plan shall be governed by, and interpreted, construed, and enforced in accordance with, the
laws of the State of California without regard to its or any other jurisdiction’s conflicts of laws
provisions.

2

ADVENTRX Pharmaceuticals, Inc.

2010 Incentive Plan

I hereby acknowledge that I have received a copy of the Adventrx Pharmaceuticals, Inc. 2010
Incentive Plan.

Name:

Date:

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