SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: EX-10.2
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/ex10-2.htm

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The purchase price of Common Stock acquired pursuant to the Restricted Stock Award shall be paid either (i) in cash or by check or cash equivalent, (ii) in the form of the Participant’s past service rendered to the Company or its Affiliate having a value not less than the aggregate purchase price of the shares being acquired, (iii) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable law, or (iv) by any combination thereof. The Board may at any time or from time to time, by adoption of or by amendment to the standard form of Restricted Stock Award Agreement, or by other means, grant Restricted Stock Awards which do not permit all of the foregoing forms of consideration to be used in payment of the purchase price or which otherwise restrict one or more forms of consideration.

Vesting. Subject to the Repurchase Limitation in subsection 10(h), shares of Common Stock acquired under a Restricted Stock
Award Agreement may, but need not, be subject to a share repurchase option in favor of the Company in accordance with a vesting schedule
to be determined by the Board.

Termination of Participant’s Continuous Service. Subject to the Repurchase Limitation in subsection 10(h), in the
event a Participant’s Continuous Service terminates, the Company may repurchase or otherwise reacquire any or all of the shares
of Common Stock held by the Participant, which have not vested as of the date of termination under the terms of the Restricted Stock
Award Agreement.

Transferability. Rights to acquire shares of Common Stock under a Restricted Stock Award Agreement shall not be transferable
except by will or by the laws of descent and distribution and shall be exercisable during the lifetime of the Participant only by the
Participant.

COVENANTS OF THE COMPANY

Availability of Shares. During the terms of the Stock Awards, the Company shall keep available at all times the number
of shares of Common Stock required to satisfy such Stock Awards.

Securities Law Compliance. The Company shall seek to obtain from each regulatory commission or agency having jurisdiction
over the Plan such authority as may be required to grant Stock Awards and to issue and sell shares of Common Stock upon exercise of the
Stock Awards; provided, however, that this undertaking shall not require the Company to register under the Securities Act the Plan, any
Stock Award or any Common Stock issued or issuable pursuant to any such Stock Award. If, after reasonable efforts, the Company is unable
to obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance
and sale of Common Stock under the Plan, the Company shall be relieved from any liability for failure to issue and sell Common Stock
upon exercise of such Stock Awards unless and until such authority is obtained.

USE OF PROCEEDS FROM STOCK. Proceeds from the sale of Common Stock pursuant to Stock
Awards shall constitute general funds of the Company.

MISCELLANEOUS

Stockholder Rights. No Participant shall be deemed to be the holder of, or to have any of the rights of a holder with respect
to, any shares of Common Stock subject to such Stock Award unless and until such Participant has satisfied all requirements for exercise
of the Stock Award pursuant to its terms.

No Employment or other Service Rights. Nothing in the Plan or any instrument executed thereunder or Stock Award granted
pursuant thereto shall confer upon any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect
at the time the Stock Award was granted or shall affect the right of the Company or an Affiliate to terminate (i) the employment of an
Employee with or without notice and with or without cause, (ii) the service of a Consultant pursuant to the terms of such Consultant’s
agreement with the Company or an Affiliate, or (iii) the service of a Director pursuant to the Bylaws of the Company or an Affiliate,
and any applicable provisions of the corporate law of the state in which the Company or the Affiliate is incorporated, as the case may

8 —2024 Equity Incentive Plan

Incentive Stock Option $100,000 Limitation. To the extent that the aggregate Fair Market Value (determined at the time
of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for the first time by any Optionholder during
any calendar year (under all plans of the Company and its Affiliates) exceeds one hundred thousand dollars ($100,000), the Options or
portions thereof which exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options.

Investment Assurances. The Company may require a Participant, as a condition of exercising or acquiring Common Stock under
any Stock Award, (i) to give written assurances satisfactory to the Company as to the Participant’s knowledge and experience in
financial and business matters and/or to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable
and experienced in financial and business matters and that he or she is capable of evaluating, alone or together with the purchaser representative,
the merits and risks of exercising the Stock Award; and (ii) to give written assurances satisfactory to the Company stating that the
Participant is acquiring Common Stock subject to the Stock Award for the Participant’s own account and not with any present intention
of selling or otherwise distributing the Common Stock. The foregoing requirements, and any assurances given pursuant to such requirements,
shall be inoperative if (1) the issuance of the shares of Common Stock upon the exercise or acquisition of Common Stock under the Stock
Award has been registered under a then currently effective registration statement under the Securities Act or (2) as to any particular
requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the
then applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates issued under
the Plan as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited
to, legends restricting the transfer of the Common Stock.

Withholding Obligations. To the extent provided by the terms of a Stock Award Agreement, the Participant may satisfy any
federal, state or local tax withholding obligation relating to the exercise or acquisition of Common Stock under a Stock Award by any
of the following means (in addition to the Company’s right to withhold from any compensation paid to the Participant by the Company)
or by a combination of such means: (i) tendering a cash payment; (ii) authorizing the Company to withhold shares of Common Stock from
the shares of Common Stock otherwise issuable to the Participant as a result of the exercise or acquisition of Common Stock under the
Stock Award, provided, however, that no shares of Common Stock are withheld with a value exceeding the minimum amount of tax required
to be withheld by law; (iii) by such other consideration as may be approved by the Board from time to time to the extent permitted by
applicable law; or (iv) any combination thereof.

Information Obligation. To the extent required by Delaware state law, the Company shall deliver financial statements
to Participants at least annually. This subsection 10(f) shall not apply to key Employees whose duties in connection with the Company
assure them access to equivalent information.

Fractional Shares. The Company shall not be required to issue fractional shares upon the exercise or settlement of any
Stock Award.

9 —2024 Equity Incentive Plan

Repurchase Limitation. The terms of any repurchase option shall be specified in the Stock Award and the repurchase price
may not be less than the original purchase price. To the extent required by Delaware state law at the time a Stock Award is made, any
repurchase option contained in a Stock Award shall be upon the terms described below:

Fair Market Value. If the repurchase option gives the Company the right to repurchase the shares of Common Stock upon termination
of Continuous Service at not less than the Fair Market Value of the shares of Common Stock to be purchased on the date of termination
of Continuous Service, then the right to repurchase shall be exercised for cash or cancellation of purchase money indebtedness for the
shares of Common Stock within ninety (90) days of termination of Continuous Service (or in the case of shares of Common Stock issued
upon exercise of Stock Awards after such date of termination, within ninety (90) days after the date of the exercise) or such longer
period as may be agreed to by the Company and the Participant, provided the repurchase right terminates when the Company’s securities
become publicly traded.