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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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.

Original Purchase Price. If the repurchase option gives the Company the right to repurchase the shares of Common Stock upon termination
of Continuous Service at the original purchase price, then (A) the right to repurchase at the original purchase price shall lapse at
the rate of at least twenty percent (20%) of the shares of Common Stock per year over five (5) years from the date the Stock Award is
granted (without respect to the date the Stock Award was exercised or became exercisable) and (B) 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 Options 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.

(iii) Additional
Limitations. In addition to the restrictions set forth in Sections 10(h)(i) and (ii), the shares of Common Stock held by an
Officer, Director, advisor or Consultant of the Company, or its Affiliates, may be subject to additional or greater
restrictions.

Severability. If any one or more of the provisions (or any part thereof) of this Plan shall be held invalid, illegal
or unenforceable in any respect, such provision shall be modified so as to make it valid, legal and enforceable, and the validity, legality
and enforceability of the remaining provisions (or any part thereof) of the Plan shall not in any way be affected or impaired thereby.

ADJUSTMENTS UPON CHANGES IN STOCK

Capitalization Adjustments. If any change is made in the Common Stock subject to the Plan, or subject to any Stock Award,
without the receipt of consideration by the Company (through merger, consolidation, reorganization, recapitalization, reincorporation,
stock dividend, dividend in property other than cash, stock split, liquidating dividend, combination of shares, exchange of shares, change
in corporate structure or other transaction not involving the receipt of consideration by the Company), the Plan will be appropriately
adjusted in the class(es) and maximum number of securities subject to the Plan pursuant to subsection 4(a), and the outstanding Stock
Awards will be appropriately adjusted in the class(es) and number of securities and price per share of Common Stock subject to such outstanding
Stock Awards. Any fractional share resulting from an adjustment pursuant to this subsection 11(a) shall be rounded down to the nearest
whole number, and the exercise price per share shall be rounded up to the nearest whole cent. In no event may the exercise price of any
Stock Award be decreased to an amount less than the par value, if any, of the stock subject to the award. The Board shall make such adjustments,
and its determination shall be final, binding and conclusive. (The conversion of any convertible securities of the Company shall not
be treated as a transaction “without receipt of consideration” by the Company.)

Dissolution or Liquidation. In the event of a dissolution or liquidation of the Company, all outstanding Stock Awards shall
terminate immediately prior to such event.

10 —2024 Equity Incentive Plan

Asset Sale, Merger, Consolidation or Reverse Merger. In the event of (x) a sale, lease or other disposition of all or substantially
all of the assets of the Company, (y) a merger or consolidation in which the Company is not the surviving corporation or (z) a reverse
merger in which the Company is the surviving corporation but the shares of Common Stock outstanding immediately preceding the merger
are converted by virtue of the merger into other property, whether in the form of securities, cash or otherwise (individually, a “Corporate
Transaction”), all Options outstanding under the Plan shall be treated in the manner described in the definitive transaction
agreement approved by the Board (or in the event the transaction does not entail a definitive agreement to which the Company is party,
in the manner determined by the Board in its capacity as Administrator, with such determination having final and binding effect on all
parties), which agreement or determination need not treat all Options outstanding under the Plan (or all portions thereof) in an identical
manner. Such treatment may include, without limitation, one or more of the following with respect to each outstanding Option outstanding
under the Plan:

continuation of the Option by the Company (if the Company is the surviving corporation in the Corporate Transaction);

assumption of the Option by the surviving corporation or its parent in a manner that complies with applicable law and tax provisions;

(iii)
substitution by the surviving corporation or its parent of a new option or stock purchase right for the Option in a manner that complies
with applicable law and tax provisions;

cancellation of the Option and a payment to the holder thereof with respect to each share subject to the portion thereof that is vested
as of the Corporate Transaction date equal to the excess of (A) the value, as determined by the Board in its absolute discretion, of
the property (including cash) received by the holder of a share of Common Stock as a result of the Corporate Transaction, over (B) the
per-share exercise price of such Option (such excess, the “Spread”). Such payment shall be made in the form of cash,
cash equivalents, or securities of the surviving corporation or its parent having a value equal to the Spread. In addition, any escrow,
holdback, earn-out or similar provisions in the transaction agreement may apply to such payment to the same extent and in the same manner
as such provisions apply to the holders of Common Stock. If the Spread is zero or a negative number, then the Option may be cancelled
without making a payment to the Optionholder;

cancellation of the Option without the payment of any consideration; provided that the Optionholder shall be notified of such treatment
and given an opportunity to exercise the Option to the extent vested during a period of not less than five business days preceding the
effective date of the Corporate Transaction, unless (A) a shorter period is required to permit a timely closing of the Corporate Transaction
and (B) such shorter period still offers the Optionholder a reasonable opportunity to exercise the Option. Any exercise of an Option
during such period may be contingent upon the closing of the Corporate Transaction;

suspension of the Optionholder’s right to exercise an Option during a limited period of time preceding the closing of the Corporate
Transaction if such suspension is administratively necessary to permit the closing of the Corporate Transaction; and/or

(vii)
termination of any right an Optionholder has to exercise the Option prior to vesting in the shares subject to the Option (i.e., “early
exercise”), such that at or following the closing of the Corporate Transaction the Option may only be exercised to the extent it
is vested;

each case as determined by the Board.

11 —2024 Equity Incentive Plan

Acceleration of Vesting. The Board may, in its sole discretion, provide in any Stock Award Agreement or, in the event of
a Corporate Transaction, may take such actions as it deems appropriate to provide for the acceleration of the exercisability and vesting
in connection with such Corporate Transaction of any or all then-outstanding Stock Awards and shares acquired upon the exercise thereof
upon such conditions, including termination of the Participant’s Continuous Service prior to, upon, or following such Corporate
Transaction, and to such extent as the Board shall determine.