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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types of Stock Award shall be granted; the provisions of each Stock Award granted (which need not be identical), including the time or times when a person shall be permitted to receive Common Stock pursuant to a Stock Award; and the number of shares of Common Stock with respect to which a Stock Award shall be granted to each such person. To construe and interpret the Plan and Stock Awards granted under it, and to establish, amend and revoke rules and regulations for its administration. The Board, in the exercise of this power, may correct any defect, omission or inconsistency in the Plan or in any Stock Award Agreement, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective. 3 —2024 Equity Incentive Plan (iii) To determine the Fair Market Value. To approve forms of agreement for use under the Plan.

To accelerate the time at which a Stock Award may first be exercised or the time during which a Stock Award or any part thereof will
vest in accordance with the Plan, notwithstanding the provisions in the Stock Award stating the time at which it may first be exercised
or the time during which it will vest.

To amend the Plan or a Stock Award as provided in Section 12.

(vii)
To adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by individuals employed outside
the United States.

(viii)
Generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of
the Company, which are not in conflict with the provisions of the Plan.

Delegation to Committee. The Board may delegate administration of the Plan to a Committee or Committees of one (1) or more
members of the Board, and the term Committee shall apply to any person or persons to whom such authority has been delegated. If administration
is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed
by the Board, including the power to delegate to a subcommittee any of the administrative powers the Committee is authorized to exercise
(and references in this Plan to the Board shall thereafter be to the Committee or subcommittee), subject, however, to such resolutions,
not inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may retain the authority
to concurrently with the Committee to administer the Plan and may, at any time, revest in the Board the administration of the Plan.

Effect of Board’s Decision. All determinations, interpretations and constructions made by the Board in good faith
shall not be subject to review by any person and shall be final, binding and conclusive on all persons.

SHARES SUBJECT TO THE PLAN

Share Reserve. Subject to the provisions of Section 11 relating to adjustments upon changes in Common Stock, the maximum
number of shares of Common Stock that may be issued pursuant to Stock Awards shall be one million five hundred thousand (1,500,000) and
shall consist of authorized but unissued or reacquired shares or any combination thereof.

Reversion of Shares to the Share Reserve. If any Stock Award shall for any reason expire or otherwise terminate, in whole
or in part, without having been exercised in full, or if any shares of Common Stock issued to a Participant pursuant to a Stock Award
are forfeited back to or repurchased by the Company, including, but not limited to, any repurchase or forfeiture caused by the failure
to meet a contingency or condition required for the vesting of such shares, then the shares of Common Stock not acquired under such Stock
Award shall revert to and again become available for issuance under the Plan. If the exercise price of any Stock Award is satisfied by
tendering shares of Common Stock held by a Participant (either by actual delivery or attestation), then the number of such tendered shares
shall revert to and again become available for issuance under the Plan.

4 —2024 Equity Incentive Plan

ELIGIBILITY

Eligibility for Specific Stock Awards. Incentive Stock Options may be granted only to Employees. Stock Awards other than
Incentive Stock Options may be granted to Employees, Directors and Consultants.

Ten Percent Stockholders. A Ten Percent Stockholder shall not be granted an Incentive Stock Option unless the exercise
price of such Option is at least one hundred ten percent (110%) of the Fair Market Value of the Common Stock at the date of grant and
the Option is not exercisable after the expiration of five (5) years from the date of grant.

Consultants. A Consultant shall not be eligible for the grant of a Stock Award if, at the time of grant, either the offer
or the sale of the Company’s securities to such Consultant is not exempt under Rule 701 of the Securities Act (“Rule 701”)
because of the nature of the services that the Consultant is providing to the Company, or because the Consultant is not a natural person,
or as otherwise provided by Rule 701, unless the Company determines that such grant need not comply with the requirements of Rule 701
and will satisfy another exemption under the Securities Act as well as comply with the securities laws of all other relevant jurisdictions.

OPTION PROVISIONS. Each Option shall be in such form and shall contain such terms
and conditions as the Board shall deem appropriate. All Options shall be separately designated Incentive Stock Options or Nonstatutory
Stock Options at the time of grant, and, if certificates are issued, a separate certificate or certificates will be issued for shares
of Common Stock purchased on exercise of each type of Option. The provisions of separate Options need not be identical, but each Option
shall include (through incorporation of provisions hereof by reference in the Option or otherwise) the substance of each of the following
provisions:

Term. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders, no Option shall be exercisable after
the expiration of ten (10) years from the date it was granted.

Exercise Price of an Incentive Stock Option. Subject to the provisions of subsection 5(b) regarding Ten Percent Stockholders,
the exercise price of each Incentive Stock Option shall be not less than one hundred percent (100%) of the Fair Market Value of the Common
Stock subject to the Option on the date the Option is granted. Notwithstanding the foregoing, an Incentive Stock Option may be granted
with an exercise price lower than that set forth in the preceding sentence if such Option is granted pursuant to an assumption or substitution
for another option in a manner satisfying the provisions of Section 424(a) of the Code.

Exercise Price of a Nonstatutory Stock Option. Unless otherwise approved by the Board, the exercise price of each Nonstatutory
Stock Option shall be such price as is determined by the Administrator, provided that, if the per Share exercise price is less than 100%
of the Fair Market Value on the date of grant, it shall otherwise comply with all Applicable Laws, including Section 409A of the
Code. A Nonstatutory Stock Option may be granted with a per share exercise price other than as required above pursuant to a merger or
other corporate transaction.

Consideration. The purchase price of Common Stock acquired pursuant to an Option shall be paid, to the extent permitted
by applicable statutes and regulations, either (i) in cash or by check or cash equivalent, (ii) by tender to the Company, and attestation
to the ownership, of shares of Common Stock owned by the Optionholder having a Fair Market Value not less than the exercise price and
provided that accepting such shares, in the sole discretion of the Board, shall not result in any adverse accounting consequences to
the Company, (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 approval of or by amendment to the standard
forms of Option Agreement, or by other means, grant Options which do not permit all of the foregoing forms of consideration to be used
in payment of the exercise price or which otherwise restrict one or more forms of consideration. Unless otherwise specifically provided
in the Option, the purchase price of Common Stock acquired pursuant to an Option that is paid by delivery to the Company of other Common
Stock acquired, directly or indirectly from the Company, shall be paid only by shares of the Common Stock of the Company that have been
held for more than six (6) months (or such longer or shorter period of time required to avoid a charge to earnings for financial accounting
purposes).

5 —2024 Equity Incentive Plan