Document:

<PAGE>

                                                                    EXHIBIT 10.1

                                 CARDIMA, INC.

                            1993 STOCK OPTION PLAN
                            ----------------------
                       (AS AMENDED THROUGH MARCH 1999)

  I.   PURPOSES OF THE PLAN

     This 1993 Stock Option Plan, as amended (the "Plan") is intended to
promote the interests of Cardima, Inc., a Delaware corporation (the
"Corporation"), by providing a method whereby eligible individuals who provide
valuable services to the Corporation (or its parent or subsidiary corporations)
may be offered incentives and rewards which will encourage them to acquire a
proprietary interest, or otherwise increase their proprietary interest, in the
Corporation and continue to render services to the Corporation (or its parent or
subsidiary corporations).

     For purposes of the Plan, the following provisions shall be applicable
in determining the parent and subsidiary corporations of the Corporation:

        (i)    Any corporation (other than the Corporation) in an
  unbroken chain of corporations ending with the Corporation shall be
  considered to be a PARENT corporation of the Corporation, provided each
  such corporation in the unbroken chain (other than the Corporation) owns,
  at the time of the determination, stock possessing fifty percent (50%) or
  more of the total combined voting power of all classes of stock in one of
  the other corporations in such chain.

        (ii)   Each corporation (other than the Corporation) in an
  unbroken chain of corporations beginning with the Corporation shall be
  considered to be a SUBSIDIARY of the Corporation, provided each such
  corporation (other than the last corporation) in the unbroken chain owns,
  at the time of the determination, stock possessing fifty percent (50%) or
  more of the total combined voting power of all classes of stock in one of
  the other corporations in such chain.

  II.  ADMINISTRATION OF THE PLAN

  A.   A Committee comprised of non-employee members of the Board who satisfy
the requirements of Rule 16b-3 of the Securities Exchange Act of 1934 (the "1934
Act") as it is then in effect to exempt stock awards made hereunder from the
short-swing profit recovery rules of Section 16(b) of the 1934 Act (the "Primary
Committee") and who satisfy the requirements of Section 162(m) of the Internal
Revenue Code shall have sole and exclusive authority to administer the Plan with
respect to Section 16 Insiders.

  B.   Administration of the Plan with respect to all other persons eligible
to participate in the Plan may, at the Board's discretion, be vested in the
Primary Committee or a second committee comprised of one or more Board members
(the "Secondary Committee"), or the Board may retain the power to administer the
Plan with respect to all such persons. The members of the Secondary Committee
may be individuals who are Employees eligible to receive option
<PAGE>

grants under the Plan or any stock option, stock appreciation, stock bonus or
other stock plan of the Corporation (or any Parent or Subsidiary) or who have
any other business relationship with the Company outside their roles as members
of the Board.

  C.   Members of the Primary Committee or any Secondary Committee shall
serve for such period of time as the Board may determine and may be removed by
the Board at any time.  The Board may also at any time terminate the functions
of any Secondary Committee and reassume all powers and authority previously
delegated to such committee.

  D.   Each Plan Administrator shall, within the scope of its administrative
functions under the Plan, have full power and authority (subject to the
provisions of the Plan) to establish such rules and regulations as it may deem
appropriate for proper administration of the Plan and to make such
determinations under, and issue such interpretations of, the provisions of the
Plan and any outstanding options thereunder as it may deem necessary or
advisable.  Decisions of the Plan Administrator within the scope of its
administrative functions under the Plan shall be final and binding on all
parties who have an interest in the Plan under its jurisdiction or any option
thereunder.

  E.   Service on the Primary Committee or the Secondary Committee shall
constitute service as a Board member, and members of each such committee shall
accordingly be entitled to full indemnification and reimbursement as Board
members for their service on such committee.  No member of the Primary Committee
or the Secondary Committee shall be liable for any act or omission made in good
faith with respect to the Plan or any grants under the Plan.

  III. ELIGIBILITY FOR OPTION GRANTS

     The persons eligible to receive option grants under the Plan are as
follows:

        (i)    key employees (including officers and directors) of the
  Corporation (or its parent or subsidiary corporations);

        (ii)   the non-employee members of the Board or the non-employee
  members of the board of directors of any parent or subsidiary corporation;
  and

        (iii)  those consultants who provide valuable services to the
  Corporation (or its parent or subsidiary corporations).

     The Plan Administrator shall have full authority to determine which
eligible individuals are to receive option grants under the Plan, the number of
shares to be covered by each such grant, whether the granted option is to be an
incentive stock option ("Incentive Option") which satisfies the requirements of
Section 422 of the Internal Revenue Code or a non-statutory option not intended
to meet such requirements, the time or times at which each such option is to
become exercisable, and the maximum term for which the option is to remain
outstanding.

                                      -2-
<PAGE>

  IV.  STOCK SUBJECT TO THE PLAN

  A.   The stock issuable under the Plan shall be shares of the Corporation's
authorized but unissued or reacquired Common Stock.  The aggregate number of
shares which may be issued over the term of the Plan shall not exceed
2,903,185/1/ shares (on a post-split basis). The total number of shares
issuable under the Plan shall be subject to adjustment from time to time in
accordance with the provisions of this Section IV.

  B.   The number of shares of Common Stock available for issuance under the
Plan shall automatically increase on the first trading day of the 1998, 1999,
2000, 2001 and 2002 calendar years by an amount equal to three percent (3%) of
the shares of Common Stock outstanding, on December 31 of the immediately
preceding calendar year; but in no event shall any such annual increase exceed
300,000 shares (on a post-split basis).  For purposes of this provision, the
determination of the number of shares of Common Stock outstanding shall include
securities which are exercisable or convertible into shares of Common Stock,
including without limitation all outstanding stock options and warrants.

  C.   No one person participating in the Plan may receive options for more
than 500,000 shares of Common Stock per calendar year, beginning with the 1996
calendar year.

  D.   Shares subject to outstanding options shall be available for
subsequent option grants under the Plan to the extent (i) options expire or
terminate for any reason prior to exercise in full and (ii) options are
cancelled in accordance with the cancellation-regrant provisions of Section VIII
of the Plan.  Shares subject to outstanding options shall not be available for
                                                          ---
subsequent option grants under the Plan to the extent options are surrendered in
accordance with the limited cash-out rights provisions of Section IX of the
Plan.  Shares repurchased by the Corporation pursuant to its repurchase rights
under the Plan shall not be available for subsequent option grants.
                     ---
  E.   In the event any change is made to the Common Stock issuable under the
Plan by reason of any stock split, stock dividend, combination of shares,
exchange of shares or other change affecting the outstanding Common Stock as a
class without receipt of consideration, appropriate adjustments shall be made to
(I) the aggregate number and/or class of shares issuable under the Plan and (II)
the aggregate number and/or class of shares and the option price per share in
effect under each outstanding option in order to prevent the dilution or
enlargement of benefits thereunder.  The adjustments determined by the Plan
Administrator shall be final, binding and conclusive.

  V.   TERMS AND CONDITIONS OF OPTIONS

  A.   Options granted pursuant to the Plan shall be authorized by action of
the Plan Administrator and may, at the Plan Administrator's discretion, be
either Incentive Options or non-statutory options.  Individuals who are not
Employees (as defined in subsection 3.C below) may

_____________________

/1/ This figure includes the 2,000,000 shares (on a post-split basis) increase
approved by the Board in March 1999 and approved by the stockholders on June
23, 1999.

                                      -3-
<PAGE>

only be granted non-statutory options. Each granted option shall be evidenced by
one or more instruments in the form approved by the Plan Administrator;
provided, however, that each such instrument shall comply with and incorporate
--------
the terms and conditions specified below. Each instrument evidencing an
Incentive Option shall, in addition, be subject to the applicable provisions of
Section VI.

  B.   Option Price.
       ------------

     1.   The option price per share shall be fixed by the Plan
Administrator.  In no event, however, shall the option price per share be less
than eighty-five percent (85%) of the fair market value of a share of Common
Stock on the date of the option grant.

     2.   The option price shall become immediately due upon exercise of
the option and shall, subject to the provisions of Section X and the instrument
evidencing the grant, be payable in one or more of the forms specified below:

        (i)    cash or check drawn to the Corporation's order

        (ii)   in shares of Common Stock held by the optionee for the
  requisite period necessary to avoid a charge to the Corporation's earnings
  for financial reporting purposes and valued at fair market value on the
  Exercise Date; or

        (iii)  to the extent the option is exercised for vested shares,
  through a special sale and remittance procedure pursuant to which the
  optionee is to provide irrevocable written instructions (I) to a
  Corporation-designated brokerage firm to effect the immediate sale of the
  purchased shares and remit to the Corporation, out of the sale proceeds
  available on the settlement date, an amount sufficient to cover the
  aggregate option price payable for the purchased shares plus all applicable
  Federal and State income and employment taxes required to be withheld by
  the Corporation by reason of such purchase and (II) concurrently to the
  Corporation to deliver the certificates for the purchased shares directly
  to such brokerage firm in order to effect the sale transaction.

     For purposes of this subparagraph B, the Exercise Date shall be the
first date on which there shall have been delivered to the Corporation both
written notice of the exercise of the option and, except to the extent such sale
and remittance procedure is utilized, payment of the option price for the
purchased shares.

                                      -4-
<PAGE>

     3.   The fair market value of a share of Common Stock on any relevant
date under subparagraph 1 above (and for all other valuation purposes under the
Plan) shall be determined in accordance with the following provisions:

        (i)    If the Common Stock is not at the time listed or admitted
  to trading on any stock exchange but is traded on the Nasdaq National
  Market System, the fair market value shall be the closing selling price of
  one share of Common Stock on the date in question, as such price is
  reported by the National Association of Securities Dealers through its
  Nasdaq system or any successor system. If there is no closing selling price
  for the Common Stock on the date in question, then the closing selling
  price on the last preceding date for which such quotation exists shall be
  determinative of fair market value.

        (ii)   If the Common Stock is at the time listed or admitted to
  trading on any stock exchange, then the fair market value shall be the
  closing selling price per share of Common Stock on the date in question on
  the stock exchange determined by the Plan Administrator to be the primary
  market for the Common Stock, as such price is officially quoted in the
  composite tape of transactions on such exchange.  If there is no reported
  sale of Common Stock on such exchange on the date in question, then the
  fair market value shall be the closing selling price on the exchange on the
  last preceding date for which such quotation exists.

        (iii)  If the Common Stock at the time is neither listed nor
  admitted to trading on any stock exchange nor traded in the over-the-
  counter market, or if the Plan Administrator determines that the value
  determined pursuant to subparagraphs (i) and (ii) above does not accurately
  reflect the fair market value of the Common Stock, then such fair market
  value shall be determined by the Plan Administrator after taking into
  account such factors as the Plan Administrator shall deem appropriate,
  including one or more independent professional appraisals.

  C.   Term and Exercise of Options.
       ----------------------------

     Each option granted under the Plan shall be exercisable at such time
or times, during such period, and for such number of shares as shall be
determined by the Plan Administrator and set forth in the instrument evidencing
such option.  No such option, however, shall have a maximum term in excess of
ten (10) years from the grant date and no Incentive Option granted to a 10%
Stockholder shall have a maximum term in excess of five (5) years from the grant
date.  During the lifetime of the optionee, the option shall be exercisable only
by the optionee and shall not be assignable or transferable by the optionee
otherwise than by will or by the laws of descent and distribution.

                                      -5-
<PAGE>

  D.   Effect of Termination of Employment.
       ------------------------------------

     1.   Except to the extent otherwise provided pursuant to subparagraph
3.D below, the following provisions shall govern the exercise period applicable
to any options held by the optionee at the time of cessation of Service or
death.

        (i)    Should the optionee cease to remain in Service for any
  reason other than death or Disability, then the period during which each
  outstanding option held by such optionee is to remain exercisable shall be
  limited to the three (3)-month period following the date of such cessation
  of Service.

        (ii)   In the event such Service terminates by reason of
  Disability, then the period during which each outstanding option held by
  the optionee is to remain exercisable shall be limited to the six (6)-month
  period following the date of such cessation of Service.  However, should
  such Disability be deemed to constitute Permanent Disability, then the
  period during which each outstanding option held by the optionee is to
  remain exercisable shall be extended by an additional six (6) months so
  that the exercise period shall be limited to the twelve (12)-month period
  following the date of the optionee's cessation of Service by reason of such
  Permanent Disability.  For all purposes under the Plan, DISABILITY shall
  mean the inability of an individual to engage in any substantial gainful
  activity by reason of any medically determinable physical or mental
  impairment and shall be determined by the Plan Administrator on the basis
  of such medical evidence as the Plan Administrator deems warranted under
  the circumstances.  Disability shall be deemed to constitute PERMANENT
  DISABILITY in the event that such Disability is expected to result in death
  or has lasted or can be expected to last for a continuous period of not
  less than twelve (12) months.

        (iii)  Should the optionee die while holding one or more
  outstanding options, then the period during which each such option is to
  remain exercisable shall be limited to the twelve (12)-month period
  following the date of the optionee's death.  During such limited period,
  the option may be exercised by the personal representative of the
  optionee's estate or by the person or persons to whom the option is
  transferred pursuant to the optionee's will or in accordance with the laws
  of descent and distribution.

        (iv)   Each such option shall, during such limited exercise
  period, be exercisable for any or all of the shares for which the option is
  exercisable on the date of the optionee's cessation of Service. Upon the
  expiration of such limited exercise period or (if earlier) upon the
  expiration of the option term, the option shall terminate and cease to be
  exercisable.

     2.   Under no circumstances shall any option be exercisable after the
specified expiration date of the option term.

     3.   For all purposes under the Plan, unless specifically provided
otherwise in the option agreement evidencing the option grant and/or the
purchase agreement evidencing the

                                      -6-
<PAGE>

purchased shares, the optionee shall be deemed to remain in SERVICE for so long
as such individual renders services on a periodic basis to the Corporation or
any parent or subsidiary corporation in the capacity of an Employee, a non-
employee member of the board of directors or a consultant. The optionee shall be
considered to be an EMPLOYEE for so long as such individual remains in the
employ of the Corporation or one or more of its parent or subsidiary
corporations, subject to the control and direction of the employer entity as to
both the work to be performed and the manner and method of performance.

     4.   The Board shall have full power and authority to extend the
period of time for which the option is to remain exercisable following the
optionee's termination of Service from the three (3)-month (six (6) months in
the case of Disability and twelve (12) months in the case of death or Permanent
Disability) or shorter period set forth in the option agreement to such greater
period of time as the Board shall deem appropriate; provided, that in no event
                                                    --------
shall such option be exercisable after the specified expiration date of the
option term.

  E.   Stockholder Rights.  An optionee shall have none of the rights of a
       ------------------
stockholder with respect to the shares subject to the option until such
individual shall have exercised the option and paid the option price.

  F.   Repurchase Rights.  The shares of Common Stock acquired upon the
       -----------------
exercise of options granted under the Plan may be subject to one or more
repurchase rights of the Corporation in accordance with the following
provisions:

     1.   The Plan Administrator may in its discretion determine that it
shall be a term and condition of one or more options exercised under the Plan
that the Corporation (or its assignees) shall have the right, exercisable upon
the optionee's cessation of Service, to repurchase at the option price all or
(at the discretion of the Corporation and with the consent of the optionee) part
of the unvested shares of Common Stock at the time held by the optionee.  Any
such repurchase right shall be exercisable by the Corporation (or its assignees)
upon such terms and conditions (including the establishment of the appropriate
vesting schedule and other provision for the expiration of such right in one or
more installments over the optionee's period of Service) as the Plan
Administrator may specify in the instrument evidencing such right.

     2.   All of the Corporation's outstanding repurchase rights shall
automatically terminate upon the occurrence of any Corporate Transaction under
Section VII.

  VI.  INCENTIVE OPTIONS

     The terms and conditions specified below shall be applicable to all
Incentive Options granted under the Plan.  Incentive Options may only be granted
to individuals who are Employees of the Corporation.  Options which are
specifically designated as "non-statutory" options when issued under the Plan
shall not be subject to such terms and conditions.

  A.   Option Price.  The option price per share of the Common Stock subject
       ------------
to an Incentive Option shall in no event be  less than one hundred percent
(100%) of the fair market

                                      -7-
<PAGE>

value of a share of Common Stock on the date of grant. If the individual to whom
the option is granted is the owner of stock (as determined under Section 424(d)
of the Internal Revenue Code) possessing ten percent (10%) or more of the total
combined voting power of all classes of stock of the Corporation or any one of
its parent or subsidiary corporations (such person to be herein referred to as a
10% Stockholder), then the option price per share shall not be less than one
hundred and ten percent (110%) of the Fair Market Value of one share of Common
Stock on the grant date.

  B.   Dollar Limitation.  The aggregate fair market value (determined as of
       -----------------
the respective date or dates of grant) of the Common Stock for which one or more
options granted to any Employee under this Plan (or any other option plan of the
Corporation or its parent or subsidiary corporations) may for the first time
become exercisable as incentive stock options under the Federal tax laws during
any one calendar year shall not exceed the sum of One Hundred Thousand Dollars
($100,000).  To the extent the Employee holds two or more such options which
become exercisable for the first time in the same calendar year, the foregoing
limitation on the exercisability thereof as incentive stock options under the
Federal tax laws shall be applied on the basis of the order in which such
options are granted.

     Except as modified by the preceding provisions of this Section VI, all
the provisions of the Plan shall be applicable to the Incentive Options granted
hereunder.

  VII. CORPORATE TRANSACTIONS

  A.   In the event of one or more of the following transactions (a
"Corporate Transaction"):

     (i)    a merger or consolidation in which the Corporation is not the
  surviving entity, except for a transaction the principal purpose of which
  is to change the State of the Corporation's incorporation,

     (ii)   the sale, transfer or other disposition of all or substantially
  all of the assets of the Corporation in complete liquidation or dissolution
  of the Corporation, or

     (iii)  any reverse merger in which the Corporation is the surviving
  entity but in which all of the Corporation's outstanding voting stock is
  transferred to the acquiring entity or its wholly-owned subsidiary,

then each option outstanding under the Plan shall automatically accelerate so
that each such option shall, immediately prior to the Corporate Transaction,
become fully exercisable for all of the shares of Common Stock at the time
subject to such option and may be exercised for any or all of those shares or
fully vested shares of Common Stock.

  B.   Immediately following the consummation of the Corporate Transaction,
all outstanding options shall terminate and cease to be outstanding, except to
the extent assumed by the successor Corporation (or parent thereof).

                                      -8-
<PAGE>

  C.   Each outstanding option which is assumed in connection with the
Corporate Transaction or is otherwise to continue in effect shall be
appropriately adjusted, immediately after such Corporate Transaction, to apply
and pertain to the number and class of securities which would be issuable, in
consummation of such Corporate Transaction, to an actual holder of the same
number of shares of Common Stock as are subject to such option immediately prior
to such Corporate Transaction, and appropriate adjustments shall also be made to
the option price payable per share, provided the aggregate option price payable
for such securities shall remain the same.  Appropriate adjustments shall also
be made to the class and number of securities available for issuance under the
Plan following the consummation of such Corporate Transaction.

  D.   The portion of any Incentive Option accelerated in connection with a
Corporate Transaction shall remain exercisable as an Incentive Option only to
the extent the applicable One Hundred Thousand Dollar limitation is not
exceeded.  To the extent such dollar limitation is exceeded, the accelerated
portion of such option shall be exercisable as a Non-Statutory Option under the
Federal tax laws.

  E.   The grant of options under this Plan shall in no way affect the right
of the Corporation to adjust, reclassify, reorganize or otherwise change its
capital or business structure or to merge, consolidate, dissolve, liquidate or
sell or transfer all or any part of its business or assets.

 VIII.  CANCELLATION AND REGRANT OF OPTIONS

     The Plan Administrator shall have the authority to effect, at any time
and from time to time, with the consent of the affected optionees, the
cancellation of any or all outstanding options under the Plan and to grant in
substitution therefor new options under the Plan covering the same or different
numbers of shares of Common Stock but having an option price per share not less
than eighty-five percent (85%) of the fair market value of the Common Stock on
the new grant date (or one hundred percent (100%)) of such fair market value in
the case of an Incentive Option or, in the case of a 10% Stockholder, not less
than one hundred and ten percent (110%) of such fair market value).

  IX.  CASH-OUT OF OPTIONS

  A.   Once the Corporation's outstanding Common Stock is registered under
Section 12(g) of the 1934 Act, one or more optionees subject to the short-swing
profit restrictions of the Federal securities laws may, in the Plan
Administrator's sole discretion, be granted limited cash-out rights to operate
in tandem with their outstanding options under the Plan.  Any option with such a
limited right in effect for at least six (6) months shall automatically be
cancelled upon the acquisition of fifty percent (50%) or more of the
Corporation's outstanding Common Stock (excluding the Common Stock holdings of
officers and directors of the Corporation who participate in this Plan) pursuant
to a tender or exchange offer made by a person or group of related persons
(other than the Corporation or a person that directly or indirectly controls, is
controlled by or is under common control with the Corporation) which the Board
does not recommend the Corporation's stockholders to accept.  In return for the
cancelled option, the

                                      -9-
<PAGE>

optionee shall be entitled to a cash distribution from the Corporation in an
amount equal to the excess of (i) the Cash-Out Price of the shares of Common
Stock in which the optionee is vested under the cancelled option over (ii) the
aggregate exercise price payable for such vested shares. The cash distribution
payable upon such cancellation shall be made within five (5) days following the
completion of such tender or exchange offer, and neither the approval of the
Plan Administrator nor the consent of the Board shall be required in connection
with such cancellation and distribution.

  B.   For purposes of calculating the cash distribution, the Cash-Out Price
per share of the vested Common Stock subject to the cancelled option shall be
deemed to be equal to the greater of (i) the fair market value per share on the
                          -------
date of surrender, as determined in accordance with the valuation provisions of
subsection V.1.D, or (ii) the highest reported price per share paid in effecting
the tender or exchange offer.  However, if the cancelled option is an Incentive
Option, then the Cash-Out Price shall not exceed the value per share determined
under clause (i) above.

  C.   The shares of Common Stock subject to any option cancelled for an
appreciation distribution in accordance with this Section IX shall not be
                                                                   ---
available for subsequent option grants under the Plan.

  X.   TAX WITHHOLDING

  A.   The Corporation's obligation to deliver shares of Common Stock upon
the exercise of options or upon the vesting of such shares under the Plan shall
be subject to the satisfaction of all applicable Federal, state and local income
and employment tax withholding requirements.

  B.   The Plan Administrator may, in its discretion, provide any or all
holders of Non-Statutory Options or unvested shares of Common Stock under the
Plan with the right to use shares of Common Stock in satisfaction of all or part
of the Taxes incurred by such holders in connection with the exercise of their
options.  Such right may be provided to any such holder in either or both of the
following formats:

     (i)    Stock Withholding.  The election to have the Corporation
            -----------------
withhold, from the shares of Common Stock otherwise issuable upon the exercise
of such Non-Statutory Option or the vesting of such shares, a portion of those
shares with an aggregate Fair Market Value equal to the percentage of the taxes
(not to exceed one hundred percent (100%)) designated by the holder.

     (ii)   Stock Delivery.  The election to deliver to the Corporation, at
            ---------------
the time the Non-Statutory Option is exercised or the shares vest, one or more
shares of Common Stock previously acquired by such holder (other than in
connection with the option exercise or share vesting triggering the taxes) with
an aggregate Fair Market Value equal to the percentage of the taxes (not to
exceed one hundred percent (100%)) designated by the holder.

                                     -10-
<PAGE>

   XI.      LOANS

     A.   The Plan Administrator may assist any optionee (including an
optionee who is an officer or director of the Corporation) in the exercise of
one or more options granted to such optionee, including the satisfaction of any
Federal and State income and employment tax obligations arising therefrom, by
(i) authorizing the extension of a loan from the Corporation to such optionee,
or (ii) permitting the optionee to pay the option price for the purchased Common
Stock in installments over a period of years.

     B.   The terms of any loan or installment method of payment (including
the interest rate and terms of repayment) shall be established by the Plan
Administrator in its sole discretion.  Loans or installment payments may be
granted with or without security or collateral.  However, any loan made to a
consultant or other non-employee advisor must be secured by property other than
the purchased shares of Common Stock.  In all events, the maximum credit
available to each optionee may not exceed the sum of (i) the aggregate option
                               ---
price payable for the purchased shares (less the par value) plus (ii) any
Federal and State income and employment tax liability incurred by the optionee
in connection with such exercise.

     C.   The Plan Administrator may, in its absolute discretion, determine
that one or more loans extended under the financial assistance program shall be
subject to forgiveness by the Corporation in whole or in part upon such terms
and conditions as the Board in its discretion deems appropriate.

    XII.    NO EMPLOYMENT OR SERVICE RIGHTS

     A.   Nothing in the Plan shall confer upon the optionee any right to
continue in the service or employ of the Corporation (or any parent or
subsidiary corporation of the Corporation employing or retaining such optionee)
for any period of specific duration or interfere with or otherwise restrict in
any way the rights of the Corporation (or any parent or subsidiary corporation
of the Corporation employing or retaining such optionee) or of the optionee,
which rights are hereby expressly reserved by each, to terminate the Service of
the optionee at any time for any reason, with or without cause.

   XIII.    AMENDMENT OF THE PLAN

     A.   The Board shall have complete and exclusive power and authority
to amend or modify the Plan in any or all respects whatsoever; provided,
                                                               --------
however, that no such amendment or modification shall, without the consent of
the stockholders, adversely affect the rights and obligations with respect to
options at the time outstanding under the Plan; and provided, further that the
                                                    --------
Board shall not, without the approval of the Corporation's stockholders, (i)
increase the maximum number of shares issuable under the Plan or the maximum
number of shares for which any person may be granted options per calendar year,
except for permissible adjustments under Section IV or (ii) materially modify
the eligibility requirements for the grant of options under the Plan.

                                     -11-
<PAGE>

     B.   Options may be granted under this Plan to purchase shares of
Common Stock in excess of the number of shares then available for issuance under
the Plan, provided (i) an amendment to increase the maximum number of shares
          --------
issuable under the Plan is adopted by the Board prior to the initial grant of
any such option and within one year thereafter such amendment is approved by the
Corporation's stockholders and (ii) each option granted is not to become
exercisable, in whole or in part, at any time prior to the obtaining of such
stockholder approval.

    XIV.    EFFECTIVE DATE AND TERM OF PLAN

     A. The Plan became effective when adopted by the Board on June 10, 1993 and
was approved by the Corporation's stockholders on September 20, 1993. The Board
amended the Plan on November 22, 1994 to (i) increase the number of shares
authorized for issuance thereunder by an additional 975,080 shares of Common
Stock (132,298 shares of Common Stock on a post-split basis) and (ii) revise the
limited period of exercisability when an optionee ceases to render Services to
the Corporation as a result of such optionee's Disability. The Corporation's
stockholders approved the 1994 Amendment on December 29, 1994. The Board amended
the Plan on June 1, 1996 to increase the number of shares authorized for
issuance thereunder by an additional 640,079 shares (on a post-split basis) of
Common Stock and on October 2, 1996, to revise certain provisions in connection
with the filing of a Registration Statement for the initial public offering of
the Company's Common Stock hereafter referred to collectively as (the "1996
Amendments") The Corporation's Stockholders approved the 1996 Amendments on
October 2, 1996. The Board amended the Plan in March 1999 to increase the number
of shares authorized for issuance thereunder by an additional 2,000,000 shares
(on a post-split basis) of Common Stock (the "1999 Amendment"). The Corporations
Stockholders approved the 1999 Amendment on June 23, 1999.

     B.   The provisions of the 1996 Amendments shall apply only to options
granted and shares issued under the Plan from and after the date the Amendments
were adopted by the Board.  Each option issued and outstanding under the Plan
immediately prior to such adoption of the Amendments shall continue to be
governed by the terms and conditions of the Plan (and the instrument evidencing
such grant) as in effect on the date each such option was previously granted,
and nothing in the Amendments shall be deemed to affect or otherwise modify the
rights or obligations of the stockholders of such prior options with respect to
the acquisition of shares of Common Stock thereunder.

     C.   Unless sooner terminated in accordance with Section VII, the Plan
shall terminate upon the earlier of (i) November 21, 2004 or (ii) the date on
                         -------
which all shares available for issuance under the Plan shall have been issued
pursuant to the exercise or surrender of options granted hereunder.  If the date
of termination is determined under clause (i) above, then options outstanding on
such date shall thereafter continue to have force and effect in accordance with
the provisions of the instruments evidencing such options.

  XV.  USE OF PROCEEDS

     Any cash proceeds received by the Corporation from the sale of shares
pursuant to options granted under the Plan shall be used for general corporate
purposes.

                                     -12-
<PAGE>

  XVI.  REGULATORY APPROVALS

     The implementation of the Plan, the granting of any option hereunder,
and the issuance of stock upon the exercise or surrender of any such option
shall be subject to the procurement by the Corporation of all approvals and
permits required by regulatory authorities having jurisdiction over the Plan,
the options granted under it and the stock issued pursuant to it.

                                     -13-<PAGE>

                                                                   EXHIBIT 10.30

                                                               February 11, 2000
                                                               -----------------

                                 CARDIMA, INC.
                                 -------------

                             SUBSCRIPTION AGREEMENT

Cardima, Inc.
47266 Benicia Street
Fremont, California 94538-7330
Attn.:  President

Ladies and Gentlemen:

     1.  Subscription.  The undersigned is hereby purchasing from Cardima, Inc.,
         ------------
a Delaware corporation (the "Company"), __________________ shares (the "Shares")
                             -------                                    ------
of the Company's common stock, par value $0.001 (the "Common Stock"), together
                                                      ------------
with a detachable warrant to purchase one share of Common Stock for each five
Shares purchased hereby (the "Warrants"), for a purchase price of $2.25 per
                              --------
Share and accompanying Warrant, or an aggregate purchase price of
$____________________ (the "Purchase Price").  This Subscription is being made
                            --------------
in connection with the Company's private placement of Shares and accompanying
Warrants solely to "Accredited Investors" (the "Offering").  The Terms of the
                                                --------
Offering are more specifically described on Annex A hereto.
                                            -------

     2.  Closing.  On the date hereof (the "Closing"), payment of the Purchase
         -------                            -------
Price is being made by electronic wire transfer in accordance with the following
instructions:

          Bank Name:  Chase, NYC
          ABA #:  021000021
          Credit:  United States Trust Company of New York
          Account #:  920-1-073195

          Further Credit:  Sunrise/Cardima, Inc.
          Account #: 09032800
          Attention:  James Logan

or by delivery of a bank check or certified check made payable to "Cardima, Inc.
- Escrow Account," in either case against delivery to the undersigned of a
certificate representing the Shares and a warrant agreement representing the
Warrants.  All checks should be delivered, together with an executed copy of
this Subscription Agreement, to the Placement Agent for this Offering as
follows:

          Sunrise Securities Corp.
          135 East 57th Street
          11th floor
          New York, New York
          Attention:  Preston Tsao, Managing Director
<PAGE>

     3.  Representations and Warranties of the Company.  To induce the
         ---------------------------------------------
undersigned to enter into this Agreement and to purchase the Shares and
Warrants, the Company hereby represents and warrants to the undersigned the
following:

          (a) Organization Standing, Etc.  The Company is a corporation duly
              ---------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the requisite corporate power and authority to own or lease its
properties and to carry on its business as it is now being conducted.  The
Company has the requisite corporate power and authority to issue the Shares and
to perform its obligations under this Subscription Agreement.

          (b) Valid Issuance.  The Shares, when issued and delivered pursuant to
              --------------
terms of this Subscription Agreement, will be duly and validly authorized,
validly issued, fully paid and nonassessable, and free of preemptive rights and
no personal liability will attach to the ownership thereof.  The Warrants have
been duly authorized and, when issued and delivered pursuant to this
Subscription Agreement, will be duly executed, issued and delivered and will
constitute valid and legally binding terms, except as enforceability may be
limited by bankruptcy, insolvency or other laws affecting the rights of
creditors generally or by general equitable principles, and entitled to the
benefits provided by the warrant agreement pursuant to which such Warrants are
to be issued (the "Warrant Agreement").  The shares of Common Stock issuable
                   -----------------
upon exercise of the Warrants (the "Warrant Shares") have been reserved for
                                    --------------
issuance upon the exercise of the Warrants and when issued in accordance with
the terms of the Warrants and Warrant Agreement, will be duly and validly
authorized, validly issued, fully paid and nonassessable, and free of preemptive
rights and no personal liability will attach to the ownership thereof.  The
Warrant Agreement has been duly authorized and, when executed and delivered
pursuant to this Subscription Agreement, will be duly executed and delivered and
will constitute the valid and legally binding obligation of the Company
enforceable in accordance with its terms, except as enforceability may be
limited by bankruptcy, insolvency or other laws affecting the rights of
creditors generally or by general equitable principles.

          (c) Corporate Acts and Proceedings.  This Subscription Agreement and
              ------------------------------
the Offering have been duly authorized by all necessary corporate action on
behalf the Company.  This Subscription Agreement has been duly executed and
delivered by authorized officers of the Company, is a valid and binding
agreement on the part of the Company and is enforceable against the Company in
accordance with its terms, except as enforceability may be limited by
bankruptcy, insolvency or other laws affecting the rights of creditors generally
or by general equitable principles.  All corporate actions necessary to the
authorization, creation, issuance and delivery of the Shares and Warrants and
the conducting of the Offering have been taken by the Company.

          (d) Compliance with Applicable Laws and Other Instruments.  Neither
              -----------------------------------------------------
the execution or delivery of, nor the performance of or compliance with this
Subscription Agreement, the issuance of the Shares or the Warrants nor the
consummation of the transactions contemplated hereby will, with or without the
giving of notice or passage of time, result in any material breach of, or
constitute a material default under, or result in the imposition of any material
lien or encumbrance upon any asset or property of the Company pursuant to any
material agreement or other instrument to which the Company is a party or by
which it or any of its properties, assets or rights is bound or affected, and
will not violate the Company's Certificate of Incorporation or Bylaws.

          (e) Securities Laws.  Based in part upon the representations of the
              ---------------
undersigned in Section 5 hereof, no consent, authorization, approval, permit or
               ---------
order of or filing with any governmental or regulatory authority is required
under current laws and regulations in connection with the execution and delivery
of this Agreement or the offer, issuance, sale or delivery of the Shares or
Warrants, other than (i) the filing of a Form D pursuant to Regulation D under
the Securities Act of 1933, as amended (the "Act"), (ii) the filing, if
                                             ---
required, of any notice with any state whose laws require such filing, and (iii)
the qualification thereof, if required, under other applicable state laws, which
qualification has been or will be effected as a condition of the Offering.
Under the circumstances contemplated by this Subscription Agreement, the offer,

                                      -2-
<PAGE>

issuance, sale and delivery of the Shares and Warrants will not, under current
laws and regulations, require compliance with the prospectus delivery or
registration requirements in the Act.

          (f) Capital Stock.  As of February 10, 2000, the authorized and issued
              -------------
capital stock of the Company is correctly set forth in Annex A hereto.  All of
                                                       -------
the outstanding shares of the Company were duly authorized and validly issued
and are fully paid and nonassessable.  Except as described in the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 1998 (the

"Form 10-K"), quarterly report on Form 10-Q for the quarter ended March 31,
----------
1999, quarterly report on Form 10-Q for the quarter ended June 30, 1999 or
quarterly report on Form 10-Q for the quarter ended September 30, 1999
(collectively, the "SEC Filings"), in each case as filed with the Securities and
                    -----------
Exchange Commission (the "Commission"), there are no outstanding subscriptions,
                          ----------
options, warrants, calls, contracts, demands, commitments, convertible
securities or other agreements or arrangements of any character or nature
whatever, other than in connection with the Offering, pursuant to which the
Company is obligated to issue any securities of any kind representing an
ownership interest in the Company.  Neither the offer nor the issuance or sale
of the Shares and/or Warrants constitutes an event under any anti-dilution
provisions of any securities issued (or issuable pursuant to outstanding rights,
warrants or options) by the Company or any agreements with respect to the
issuance of securities by the Company, which will either increase the number of
securities issuable pursuant to such provisions or decrease the consideration
per share to be received by the Company pursuant to such provisions.  No holder
of any securities of the Company is entitled to any preemptive or similar rights
to purchase any securities of the Company in connection with the Offering.

          (g) SEC Filings. The Company has furnished, or made available through
              -----------
the EDGAR Internet web site of the Commission, to the undersigned true and
complete copies of the SEC Filings.  As of their respective filing dates, the
SEC Filings complied in all material respects with the applicable requirements
of the Exchange Act of 1934, as amended (the "Exchange Act").  None of the SEC
                                              ------------
Filings as of their respective dates contained any untrue statement of a
material fact or omitted to state a material fact required to be stated therein
or necessary in order to make the statements made therein, in the light of the
circumstances under which they were made, not misleading, except to the extent
amendments thereto were made in compliance with Commission rules and regulations
subsequent to the date thereof.

     4.  Transfer Restrictions.
         ---------------------

          (a) The undersigned realizes that the Shares, the Warrants and the
Warrant Shares are not registered under the Act or any foreign or state
securities laws.  The undersigned agrees that the Shares, the Warrants and the
Warrant Shares will not be sold, offered for sale, pledged, hypothecated or
otherwise transferred (collectively, "Transfer"), except in compliance with the
                                      --------
Act and applicable foreign and state securities laws.  The undersigned
understands that he can only Transfer the Shares, the Warrants and the Warrant
Shares pursuant to registration under the Act or pursuant to an exemption
therefrom.  The undersigned understands that to Transfer the Shares, the
Warrants and the Warrant Shares may require in certain jurisdictions specific
approval by the appropriate governmental agency or commission in such
jurisdiction.  The undersigned has been advised that, except as set forth in

Section 6 hereof, the Company has no obligation, and does not intend, to cause
---------
the Shares, the Warrants and the Warrant Shares to be registered under the Act
or the securities law of any other jurisdiction or to comply with the
requirements for any exemption under the Act, including but not limited to,
those provided by Rule 144 and Rule 144A promulgated under the Act, or under the
securities law of any other jurisdiction.

          (b) To enable the Company to enforce the transfer restrictions
contained in Section 4(a) hereof, the undersigned hereby consents to the placing
             ------------
of legends upon, and stop-transfer orders with the transfer agent of the Common
Stock with respect to, the Shares, the Warrants and the Warrant Shares.

     5.  Representations and Warranties of the Undersigned.  To induce the
         -------------------------------------------------
Company to accept the undersigned's subscription, the undersigned hereby
represents and warrants to the Company that:

                                      -3-
<PAGE>

          (a) the undersigned, if an individual, has reached the age of majority
in the jurisdiction in which he resides, is a bona fide resident of the
jurisdiction contained in the address set forth on the signature page of this
Subscription Agreement, is legally competent to execute this Subscription
Agreement, and does not intend to change residence to another jurisdiction;

          (b) the undersigned, if an entity, is duly authorized to execute this
Subscription Agreement and this Subscription Agreement, when executed and
delivered by the undersigned, will constitute a legal, valid and binding
obligation enforceable against the undersigned in accordance with its terms; and
the execution, delivery and performance of this Subscription Agreement and the
consummation of the transactions contemplated hereby have been duly authorized
by all requisite corporate or other necessary action on the part of the
undersigned;

          (c) the Shares and Warrants subscribed for hereby are being acquired
by the undersigned for investment purposes only, for the account of the
undersigned and not with the view to any resale or distribution thereof, and the
undersigned is not participating, directly or indirectly, in a distribution of
such Shares or Warrants and will not take, or cause to be taken, any action that
would cause the undersigned to be deemed an "underwriter" of such Shares or
Warrants as defined in Section 2(11) of the Act;

          (d) the undersigned has had access to all materials, books, records,
documents and information relating to the Company which the undersigned has
requested, including (i) the SEC Filings, and (ii) the Company's Proxy Statement
dated April 30, 1999 as amended (the "Proxy Statement"), and has been provided
                                      ---------------
the opportunity to verify the accuracy of the information contained therein;

          (e) the undersigned acknowledges and understands that investment in
the Shares and Warrants involves a high degree of risk, including without
limitation, the risks set forth in the SEC Filings under the caption "Factors
Affecting Future Results" in "Management's Discussion and Analysis of Financial
Condition and Results of Operations";

          (f) the undersigned acknowledges that the undersigned has been offered
an opportunity to ask questions of, and receive answers from, officers of the
Company concerning all material aspects of the Company and its business and the
Offering, and that any request for such information has been fully complied with
to the extent the Company possesses such information or can acquire it  without
unreasonable effort or expense;

          (g) the undersigned has such knowledge and experience in financial and
business matters that the undersigned is capable of evaluating the merits and
risks of an investment in the Company and can afford a complete loss of his
investment in the Company;

          (h) the undersigned has, in connection with its decision to purchase
the Shares, relied solely upon this Agreement, SEC Filings and the Proxy
Statement;

          (i) the undersigned represents and warrants to and covenants with the
Company that the undersigned has not engaged and will not engage in any sales of
the Shares, including a short sale covered by the Shares, prior to the
effectiveness of the Resale Registration Statement (as defined in Section 6),
                                                                  ---------
except to the extent that any such short sale is fully covered by shares of
Common Stock of the Company other than the Shares, or such sale is otherwise
exempt from registration under the Act;

          (j) the undersigned recognizes that no governmental agency has passed
upon the issuance of the Shares or Warrants or made any finding or determination
as to the fairness of this Offering;

          (k) if the undersigned is purchasing the Shares and Warrants
subscribed for hereby in a representative or fiduciary capacity, the
representations and warranties contained herein shall be deemed to have been
made on behalf of the person or persons for whom such Shares and Warrants are
being purchased;

                                      -4-
<PAGE>

          (l) the undersigned has not entered into any agreement to pay
commissions to any persons with respect to the purchase or sale of the Shares or
Warrants, except commissions for which the undersigned will be responsible;

          (m) the undersigned acknowledges that the Company will pay to Sunrise
Securities Corp. a commission with respect to the sale of the Shares and
Warrants by the Company to the undersigned (except to the extent otherwise
provided in Annex A) of (i) 7.0% of the aggregate Purchase Price, payable at the
            -------
option of Sunrise Securities Corp. in cash or in shares of Common Stock and
Warrants valued at $2.25, and (ii) five-year warrants to purchase, at a purchase
price of $2.48, that number of shares of Common Stock and Warrants equal to 7%
of the number of Shares and Warrants being purchased by the undersigned
hereunder; and

          (n) the undersigned is an "Accredited Investor" as that term is
defined in Section 501(a) of Regulation D promulgated under the Act.
Specifically the undersigned is (check appropriate item(s)):

<TABLE>
<S>                          <C>    <C>
  [_]                        (i)    a bank as defined in Section 3(a)(2) of the Act, or a savings and loan association or other
                                    institution as defined in Section 3(a)(5)(A) of the Act whether acting in its individual or
                                    fiduciary capacity; a broker or dealer registered pursuant to Section 15 of the Exchange Act;
                                    an insurance company as defined in Section 2(13) of the Act; an investment company registered
                                    under the Investment Company Act of 1940 or a business  development company as defined in
                                    Section 2(a)(48) of that Act; a Small Business Investment Company licensed by the U.S. Small
                                    Business Administration under Section 301(c) of (d) of the Small Business Investment Act of
                                    1958; a plan established and maintained by a state, its political subdivisions, for the benefit
                                    of its employees, if such plan has total assets in excess of $5,000,000; any employee benefit
                                    plan within the meaning of the Employment Retirement Income Security Act of 1974, if the
                                    investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which
                                    is either a bank, savings and loan association, insurance company, or registered investment
                                    advisor, or if the employee benefit plan has total assets in excess of $5,000,000, or if a
                                    self-directed plan, with investment decisions made solely by persons that are Accredited
                                    Investors;
  [_]                        (ii)   a private business development company as defined in Section 202(a)(22) of the Investment
                                    Advisers Act of 1940;

  [_]                        (iii)  an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as
                                    amended, corporation, Massachusetts or similar business trust, or partnership, not formed for
                                    the specific purpose of acquiring Shares, with total assets in excess of $5,000,000;

  [_]                        (iv)   a director or executive officer of the Company;

  [_]                        (v)    a natural person whose individual net worth, or joint net worth with that person's spouse, at
                                    the time of his or her purchase exceeds $1,000,000;

  [_]                        (vi)   a natural person who had an individual income (not including his or her spouse's income) in
                                    excess of $200,000 in 1998 and 1999 or joint income with his or her spouse in excess of
                                    $300,000 in each of those years and has a reasonable expectation of reaching such income level
                                    in 2000;
</TABLE>

                                      -5-
<PAGE>

<TABLE>

<S>                          <C>    <C>
  [_]                        (vii)  a trust, with total assets in excess of $5,000,000, not formed for the specific purpose of
                                    acquiring Shares, whose purchase is directed by a person having such knowledge and experience in
                                    financial and business matters that he or she is capable of evaluating the merits and risks
                                    entailed in the purchase of Shares; or

  [_]                        (viii)  an entity in which all of the equity owners are Accredited Investors. (If this alternative is
                                     checked, the undersigned must identify each equity owner and provide statements signed by each
                                     demonstrating how each is qualified as an Accredited Investor.)

</TABLE>

     6.  Registration of Shares and Warrant Shares under the Act.
         -------------------------------------------------------

          (a) By its acceptance hereof, the Company agrees that it shall, at its
expense, (i) not later than 45 business days after the final closing of the
Offering (the "Filing Deadline") file a registration statement or amend an
               ---------------
existing effective registration statement (in either case, the "Resale
                                                                ------
Registration Statement") with the Commission to register under the Act the
----------------------
resale by the undersigned of the Shares and the Warrant Shares, (ii) use its
reasonable best efforts to cause the Resale Registration Statement to become
effective under the Act as promptly as practicable, (iii) after the Resale
Registration Statement is declared effective under the Act, furnish the
undersigned with such number of copies of the final prospectus included in the
Resale Registration Statement (the "Prospectus") as the undersigned may
                                    ----------
reasonably request to facilitate the resale of Shares, and (iv) use its
reasonable best efforts to cause such Registration Statement to remain effective
until such time as the undersigned becomes eligible to resell the Shares and the
Warrant Shares pursuant to Rule 144 under the Act.

          (b) The Company will prepare and file with the Commission such
amendments and Prospectus supplements, including post-effective amendments to
the Resale Registration Statement, as the Company determines may be necessary or
appropriate, and use its reasonable best efforts to have such post-effective
amendments declared effective as promptly as practicable; cause the Prospectus
to be supplemented by any Prospectus supplement, and as so supplemented, to be
filed with the Commission; and promptly notify the undersigned when a
Prospectus, and any Prospectus supplement or post-effective amendment must be
filed or has been filed (including any filing in response to a Sale Notice) and,
with respect to any post-effective amendment, when the same has become
effective.

          (c) In connection with the Resale Registration Statement, the
undersigned shall furnish the Company such information as the Company shall
reasonably request.

          (d) The Company acknowledges that the undersigned and other purchasers
of Shares and Warrants will suffer damages if the Company fails to fulfill its
obligation to file a Resale Registration Statement by the Filing Deadline or to
cause the Resale Registration Statement to become effective under the Act in a
timely fashion, and that it would not be feasible to ascertain the extent of
such damages.  Accordingly, in the event that the Company shall fail to file a
timely Resale Registration Statement in accordance with Section 6(a)(i) above,
                                                        ---------------
the Company shall issue to the undersigned, as compensation therefor, shares of
Common Stock equal to (i) 1% of the Shares for each 30 days or part thereof the
filing is delayed until 60 days after the Filing Deadline, and (ii) 2% of the
Shares for each 30 days or part thereof the filing is delayed from 60 days after
the Filing Deadline.  In addition, in the event that the Company shall fail to
cause the Resale Registration Statement to be declared effective within 150
business days of the final closing of the Offering (the "Effectiveness
Deadline"), the Company shall issue to the undersigned, as compensation
therefor, shares of Common Stock equal to (i) 1% of the Shares for each 30 days
or part thereof effectiveness is delayed until 60 days after the Effectiveness
Deadline and (ii) 2% of the Shares for each 30 days or part thereof
effectiveness is delayed beyond 60 days after the Effectiveness Deadline.
However, the Company shall not be required to issue such additional shares in
either case of failure to timely file or failure to timely cause effectiveness
if such failure has been caused by (a) the failure of the undersigned to provide
information in connection with the Resale Registration

                                      -6-
<PAGE>

Statement in accordance with Section 6(d) above, or (b) the occurrence of a
                             ------------
material event not in the ordinary course which may delay the filing of the
Resale Registration Statement pending public disclosure, which disclosure shall
be promptly made by the Company.

          (e) At any time the Company may refuse to permit the undersigned to
resell any Shares or Warrant Shares pursuant to the Resale Registration
Statement; provided, however, that in order to exercise this right, the Company
           --------  -------
must deliver a certificate in writing to the undersigned to the effect that
withdrawal of such Resale Registration Statement is necessary because a sale
pursuant to the Resale Registration Statement in its then-current form could
constitute a violation of the federal securities laws.  In such an event, the
Company shall use its best efforts to amend the Resale Registration Statement if
necessary and take all other actions necessary to allow such sale under the
federal securities laws, and shall notify the undersigned promptly after it has
determined that such sale has become permissible under the federal securities
laws.  In any calendar year, the Company may exercise this right no more than
two times, for not more than 30 days in each instance.  The undersigned hereby
covenants and agrees that it will not sell any Shares pursuant to the Resale
Registration Statement during the periods the Resale Registration Statement is
withdrawn as set forth in this Section 6(e).
                               ------------

     7.  Indemnification.
         ---------------

          (a) The undersigned understands the meaning and legal consequences of
the representations and warranties made by the undersigned in this Subscription
Agreement, and agrees to indemnify and hold harmless the Company and each of the
Company's directors, officers, stockholders, employees, counsel, agents,
successors and assignees from and against any and all loss, damage, liability or
expenses (including, without limitation, attorneys' fees), as and when incurred,
due to or arising out of (in such case in whole or in part) any breach of any
representation or warranty made by the undersigned set forth herein or in any
other agreement or other document furnished by the undersigned to any of the
foregoing in connection with the Offering, any failure by the undersigned to
fulfill any of its covenants or agreements set forth herein, or arising out of
the resale or distribution by the undersigned of the Shares, the Warrants or the
Warrant Shares or any portion thereof in violation of the Act or any applicable
foreign or state securities or "blue sky" law.

          (b) The Company understands the meaning and legal consequences of the
representations and warranties made by it in this Subscription Agreement, and
agrees to indemnify and hold harmless the undersigned and each of the
undersigned's directors, officers, stockholders, employees, counsel, agents,
successors and assigns from and against any and all loss, damage, liability or
expense (including, without imitation, attorneys' fees), as and when incurred,
due to or arising out of (in each case in whole or in part) any breach of any
representation or warranty made by the Company set forth herein, or any failure
by the Company to fulfill any of its covenants or agreements set forth herein.

          (c) To the extent permitted by law, the Company will indemnify and
hold harmless each holder of Shares included in the Resale Registration
Statement (a "Holder"), the directors, if any, of such Holder, the officers, if
              ------
any, of such Holder, and each person, if any, who controls such Holder within
the meaning of the Act or the Exchange Act, against any losses, claims, damages,
expenses or liabilities to which any of them may become subject, under the Act,
the Exchange Act or otherwise, insofar as such losses, claims, damages, expenses
or liabilities (or actions or proceedings, whether commenced or threatened, in
respect thereof) arise out of or are based upon any of the following statements,
omissions or violation  (collectively, a "Violation"):  (i) any untrue statement
                                          ---------
or alleged untrue statement of a material fact contained in the Resale
Registration Statement, including any preliminary prospectus or final prospectus
contained therein or any amendments or supplements thereto, (ii) the omission or
alleged omission to state therein a material fact required to be stated therein,
or necessary to make the statements therein, in light of the circumstances in
which they were made, not misleading, or (iii) any violation or alleged
violation by the Company of the Act, the Exchange Act, any state securities law
or any rule or regulation promulgated under the Act, the Exchange Act or any
state securities law; and the Company will reimburse the Holders and each such
controlling person, promptly as such expenses are incurred, for any legal or
other expenses reasonably

                                      -7-
<PAGE>

incurred by them in connection with investigating or defending any such loss,
claim, damage, liability, action or proceeding.

          (d) To the extent permitted by law, each Holder, severally and not
jointly, will indemnify and hold harmless, to the same extent and in the same
manner set forth in Section 7(c), the Company, each of its directors and
                    ------------
officers who have signed the Resale Registration Statement, and each person, if
any, who controls the Company within the meaning of the Act or the Exchange Act,
against any losses, claims, damages or liabilities to which any of them may
become subject, under the Act, the Exchange Act or otherwise, insofar as such
losses, claims, damages or liabilities (or actions or proceedings, whether
commenced or threatened in respect thereof) arise out of or are based upon any
Violation, in each case to the extent (and only to the extent) that such
Violation occurs in reliance upon and in conformity with written information
furnished by such Holder expressly for use in connection with the Resale
Registration Statement; and such Holder will reimburse such persons for any
legal or other expenses reasonably incurred by any of them in connection with
investigating or defending any such loss, claim, damage, liability or action.

          (e) With respect to the indemnification set forth in Sections 7(c) or
                                                               -------------
(d) above, to the extent any indemnification by an indemnifying party is
---
prohibited or limited by law, the indemnifying party agrees to make the maximum
contribution with respect to any amounts for which it would otherwise be liable
under said Sections 7(c) or (d) to the extent permitted by law; provided that
           -------------    ---                                 --------
(i) no contribution shall be made under circumstances where the maker would not
have been liable for indemnification under the fault standards set forth in said

Sections 7(c) or (d), and (ii) no party guilty of fraudulent misrepresentation
-------------    ---
(within the meaning of Section 11 of the Act) shall be entitled to contribution
from any party who was not guilty of such fraudulent misrepresentation.

     8.  Further Documents.  The undersigned agrees that it will execute such
         -----------------
other documents as may be necessary or desirable in connection with the
transactions contemplated hereby.

     9.  Modification.  Neither this Subscription Agreement nor any provisions
         ------------
hereof shall be waived, modified, discharged or terminated except by an
instrument in writing signed by the party against whom any such waiver,
modification, discharge or termination is sought.

     10.  Notices.  Any notice or other communication required or permitted to
          -------
be given hereunder shall be in writing and shall be mailed by certified mail,
return receipt requested, or by Federal Express, Express Mail or similar
overnight delivery or courier service and delivered  against receipt to the
party to whom it is to be given, (i) if to the Company, at the address set forth
on the first page hereof, (ii) if to the undersigned, at its address set forth
on the signature page hereto, or (iii) in either case, to such other address as
the party shall have furnished in writing in accordance with the provisions of
this Section 10.  Notice to the estate of any party shall be sufficient if
     ----------
addressed to the party as provided in Section 10.  Any notice or other
                                      ----------
communication given by certified mail shall be deemed given at the time of
certification thereof, except for a notice changing a party's address which
shall be deemed given at the time of receipt thereof.  Any notice given by other
means permitted by this Section 10 shall be deemed given at the time of receipt
                        ----------
thereof.

     11.  Counterparts.  This Subscription Agreement may be executed through the
          ------------
execution of separate signature pages or in any number of counterparts, and each
such counterpart shall, for all purposes, constitute one agreement binding on
all parties, notwithstanding that all parties are not signatories to the same
counterpart.

     12.  Entire Agreement.  This Subscription Agreement contains the entire
          ----------------
agreement of the parties with respect to the subject matter hereof and there are
no representations, covenants or other agreements except as stated or referred
to herein.

     13.  Severability.  Each provision of this Subscription Agreements is
          ------------
intended to be severable from every other provision, and the invalidity or
illegality of any portion hereof shall not affect the validity or legality of
the remainder hereof.

                                      -8-
<PAGE>

     14.  Assignability.  This Subscription Agreement is not transferable or
          -------------
assignable by the undersigned.

     15.  Applicable Law.  This Subscription Agreement has been negotiated and
          --------------
consummated in the State of New York and shall be governed by and construed in
accordance with the laws of the State of New York, without giving effect to
conflict of laws.

     16.  Choice of Jurisdiction.  Any action or proceeding arising directly,
          ----------------------
indirectly or otherwise, in connection with, out of or from this Subscription
Agreement, any breach hereof or any transaction covered hereby shall be resolved
within New York, New York.  Accordingly, the parties consent and submit to the
jurisdiction of the United States federal and state courts located within New
York, New York.

     17.  Taxpayer Identification Number.  The undersigned verifies under
          ------------------------------
penalties of perjury that any Taxpayer Identification Number or Social Security
Number shown on the signature page hereto is true, correct and complete.

     18.  Pronouns.  Any personal pronoun shall be considered to mean the
          --------
corresponding masculine, feminine or neuter personal pronoun, as the context
requires.

                                      -9-
<PAGE>

          IN WITNESS WHEREOF, the undersigned has executed this Subscription
Agreement this _______ day of ________________________, 2000.

Number of Shares Subscribed for: __________________ Shares

INDIVIDUAL SUBSCRIBER:                  ENTITY SUBSCRIBER:

------------------------------------    ------------------------------------
(Signature of Subscriber)               (Print Name of Subscriber)

                                        By:
------------------------------------       ---------------------------------
(Typed or Printed Name)

Name:                                   Title:
     -------------------------------          ------------------------------

------------------------------------    ------------------------------------
(Residence Address)                     (Address)

------------------------------------    ------------------------------------
(City, State and Zip Code)              (City, State and Zip Code)

------------------------------------    ------------------------------------
(Telephone Number)                      (Telephone Number)

------------------------------------    ------------------------------------
(Telecopier Number)                     (Telecopier Number)

------------------------------------    ------------------------------------
(Tax I.D. or Social Security Number)    (Tax I.D. or Social Security Number)

ACCEPTED:

CARDIMA, INC.                           For entities desiring that certificates
                                        for Shares be delivered to an address
By:_________________________________    other than that set forth above, set
Name:_______________________________    for the delivery address:
Title:______________________________
Dated:  ______________________, 2000

                                        ------------------------------------
                                        (Address)

                                        ------------------------------------
                                        (City, State and Zip Code)

                                      -10-
<PAGE>

                                                                         Annex A
                                                                         -------

                                 CARDIMA, INC.

                       FEBRUARY 2000  Private Placement

                               Terms of Offering

Private Placement            This offering is being made exclusively to
                             institutions and high-net worth individuals that
                             meet the definition of "Accredited Investor" as set
                             forth in Section 501(a) of Regulation D under the
                             Securities Act of 1933 (the "Act").

Amount                       $6,000,000 to $10,500,000

Shares                       2,666,666 to 4,666,666 shares of Common Stock (the
                             "Shares") of Cardima, Inc. (the "Company") together
                             with a detachable warrant (to purchase one share of
                             Common Stock) for each five Shares purchased in the
                             offering (the "Warrants"). The Warrants will have a
                             five-year term and an exercise price of $2.48.

Price                        $2.25 per Share and accompanying Warrant

Pre-Offering Outstanding
  Shares                     16,566,976 shares of Common Stock

Pre-Offering Warrants and
  Options                    1993 Stock Option Plan        1,591,477
                             Director Stock Option Plan      200,000
                             Warrants                      1,037,512

Escrow                       Funds shall be placed in a non-interest bearing
                             escrow account at US Trust Company pending receipt
                             of the minimum placement of $6,000,000 (exclusive
                             of the investment by St. Jude Medical, Inc.
                             referred to below).

Risk Factors                 Investment in the Shares involves a high degree of
                             risk including those set forth in the registration
                             statements and periodic reports filed by the
                             Company with the Securities and Exchange Commission
                             (the "Commission"). The Shares have not been
                             registered under the Act or any foreign or state
                             securities laws. The Shares may not be sold until
                             registration under the Act in accordance with the
                             registration rights described below or pursuant to
                             an exemption from registration.

Placement Agent              Sunrise Securities Corp. ("Sunrise") is acting as
                             placement agent. Sunrise shall be paid a commission
                             of 7% of the sales price and be issued warrants
                             (the "Placement Agent Warrants") to purchase a
                             number of shares of Common Stock and Warrants equal
                             to 7% of the Shares and Warrants placed. The term
                             of the Placement Agent Warrants is 5 years, and the
                             exercise price is $2.48. Sunrise may elect to
                             receive all or any part of its commission in shares
                             of Common Stock and Warrants valued at $2.25,
                             provided, that at least 50% of

                                      -11-
<PAGE>

                             Sunrise's commissions will be paid in this manner.
                             Sunrise will also be reimbursed for its expenses up
                             to a maximum of $30,000. Employees of the Placement
                             Agent who meet the definition of "Accredited
                             Investor" as set forth in Section 501(a) of
                             Regulation D under the Act may purchase Shares for
                             their own personal account on the same terms and
                             conditions as other investors in the offering. Any
                             such purchases shall count towards the minimum and
                             maximum offerings, respectively.

St. Jude Investment          The first closing of the offering shall be a
                             conditioned on a simultaneous closing of a
                             $3,000,000 investment in the Company by St. Jude
                             Medical, Inc.

Registration Rights          The Company shall, at its expense, (i) not later
                             than a data 45 business days after the final
                             closing of the offering (the "Filing Deadline")
                             file a registration statement (the "Registration
                             Statement") with the Commission to register under
                             the Act the resale by the subscribers of the Shares
                             and the shares of Common Stock underlying the
                             Warrants, (ii) use its reasonable best efforts to
                             cause the Registration Statement to become
                             effective under the Act as promptly as practicable,
                             (iii) after the Registration Statement is declared
                             effective under the Act, furnish subscribers with
                             such number of copies of the prospectus included in
                             the Registration Statement as the subscribers may
                             reasonably request to facilitate the resale of the
                             Shares and the shares of Common Stock underlying
                             the Warrants, and (iv) use its reasonable best
                             efforts to cause such Registration Statement to
                             remain effective until such time as the subscribers
                             become eligible to resell the Shares and the shares
                             of Common Stock underlying the Warrants, pursuant
                             to Rule 144. In the event that the Company shall
                             fail to timely file a Registration Statement in
                             accordance with the above, the Company shall issue
                             to the subscribers, as compensation therefor,
                             shares of Common Stock equal to (i) 1% of the
                             Shares for each 30 days or part thereof the filing
                             is delayed until 60 days after the Filing Deadline,
                             and (ii) 2% of the Shares for each 30 days or part
                             thereof the filing is delayed from 60 days after
                             the Filing Deadline. In addition, in the event that
                             the Company shall fail to cause the Registration
                             Statement to be declared effective within 150
                             business days of the final closing of the Offering
                             (the "Effectiveness Deadline"), the Company shall
                             issue to the subscribers, as compensation therefor,
                             shares of Common Stock equal to (i) 1% of the
                             Shares for each 30 days or part thereof
                             effectiveness is delayed until 60 days after the
                             Effectiveness Deadline and (ii) 2 % of the Shares
                             for each 30 days or part thereof effectiveness is
                             delayed beyond 60 days after the Effectiveness
                             Deadline. However, the Company shall not be
                             required to issue such additional shares of Common
                             Stock in either instance of failure to timely file
                             or failure to timely cause effectiveness, if such
                             failure has been caused by (a) the failure of the
                             subscribers to provide information in connection
                             with the Registration Statement, or (b) the
                             occurrence of a material event not in the ordinary
                             course which may delay the filing of the
                             Registration Statement pending public disclosure,
                             which disclosure shall be promptly

                                      -12-
<PAGE>

                             made.

                             The Company may at any time refuse to permit
                             subscribers to resell any Shares pursuant to the
                             Registration Statement upon delivery to the
                             Subscribers of a written certificate to the effect
                             that withdrawal of the Registration Statement is
                             necessary because a sale thereunder in the then
                             current form would constitute a violation of
                             federal securities laws. In the event of a
                             withdrawal, the Company shall use its best efforts
                             to amend the Registration Statement and/or take all
                             other necessary actions to again permit sales in
                             compliance with the federal securities law. In any
                             calendar year, the Company may exercise this right
                             of withdrawal no more than two times, for no more
                             than 30 days in each instance.

Lock up                      For a period of one year following the final
                             closing of the offering, the Company shall not sell
                             or offer to sell any of its securities, except
                             pursuant to the Company's stock option plan,
                             without the written consent of Sunrise, which
                             consent shall not be unreasonably withheld.

Termination of offering      The offering will terminate on April 10, 2000
                             unless extended by mutual consent of the Company
                             and Sunrise (the "Termination Date"). On the
                             Termination Date, any funds remaining in escrow
                             that have not been closed upon shall be promptly
                             returned to subscribers without interest thereon.

                                      -13-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00010-of-00352.parquet"}]]