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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Exhibit

bioventrix,
Inc.

Equity Incentive Plan

Adopted
by the Board: August 7, 2024

Approved
by Stockholders: August 7, 2024

Termination
Date: August 7, 2034

PURPOSES

Eligible Stock Award Recipients. The persons eligible to receive Stock Awards are the Employees, Directors and Consultants
of the Company and its Affiliates.

Available Stock Awards. The purpose of the Plan is to provide a means by which eligible recipients of Stock Awards may
be given an opportunity to benefit from increases in value of the Common Stock through the granting of the following Stock Awards: (i)
Incentive Stock Options, (ii) Nonstatutory Stock Options, and (iii) Restricted Stock Awards.

General Purpose. The Company, by means of the Plan, seeks to retain the services of the group of persons eligible to receive
Stock Awards, to secure and retain the services of new members of this group and to provide incentives for such persons to exert maximum
efforts for the success of the Company and its Affiliates. The Company intends that the Plan comply with Section 409A of the Code (including
any amendments or replacement of such section) and the Plan shall be so construed.

DEFINITIONS

“Affiliate” means any parent corporation or subsidiary corporation of the Company, whether now or hereafter existing,
as those terms are defined in Sections 424(e) and (f), respectively, of the Code.

“Board” means the Board of Directors of the Company.

“Code” means the Internal Revenue Code of 1986, as amended.

“Committee” means a committee of one or more Directors appointed by the Board in accordance with subsection 3(c).

“Common Stock” means the Common Stock of the Company.

“Company” means BIOVENTRIX, INC., a Delaware corporation.

“Consultant” means any person, including an advisor, (i) engaged by the Company or an Affiliate to render consulting
or advisory services to the Company or an Affiliate, or (ii) who is a member of the Board of Directors of an Affiliate.

“Continuous Service” means that the Participant’s service with the Company or an Affiliate, whether as an Employee,
Director or Consultant, is not interrupted or terminated. The Participant’s Continuous Service shall not be deemed to have terminated
merely because of a change in the capacity in which the Participant renders service to the Company or an Affiliate as an Employee, Consultant
or Director or a change in the entity for which the Participant renders such service, provided that there is no interruption or termination
of the Participant’s Continuous Service; provided, however, if the corporation for which Participant is rendering services ceases
to qualify as an Affiliate, as determined by the Board in its discretion, such Participant’s Continuous Service shall be considered
to have terminated on the date such corporation ceases to qualify as an Affiliate. For example, a change in status from an Employee of
the Company to a Consultant of an Affiliate or a Director will not constitute an interruption of Continuous Service. The Board or the
chief executive officer of the Company, in that party’s sole discretion, may determine whether Continuous Service shall be considered
interrupted in the case of any leave of absence approved by that party, including sick leave, military leave or any other personal leave.

1 —2024 Equity Incentive Plan

“Director” means a member of the Board of Directors of the Company.

“Disability” means the inability of a person, in the opinion of a qualified physician acceptable to the Company, to
perform the major duties of that person’s position with the Company or an Affiliate of the Company because of the sickness or injury
of the person.

“Employee” means any person employed by the Company or an Affiliate. However, service solely as a Director or payment
of a director’s fee by the Company or an Affiliate shall not be sufficient to constitute “employment” by the Company
or an Affiliate.

“Fair Market Value” means, as of any date, the value of the Common Stock determined as follows:

If the Common Stock is listed on any established stock exchange or traded on the Nasdaq National Market or the Nasdaq SmallCap Market,
or such other national or regional exchange or market system constituting the primary market for the Common Stock, the Fair Market Value
of a share of Common Stock shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted
on such exchange or market (or the exchange or market with the greatest volume of trading in the Common Stock) on the last market trading
day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable.

In the absence of such markets for the Common Stock, the Fair Market Value shall be determined in good faith by the Board. The value
of the Common Stock shall be determined in a manner consistent with Delaware state law and subject to the applicable requirements, if
any, of Section 409A of the Code.

“Incentive Stock Option” means an Option that qualifies as an incentive stock option within the meaning of Section 422
of the Code and the regulations promulgated thereunder.

“Listing Date” means the first date upon which any security of the Company is listed (or approved for listing) upon
notice of issuance on any securities exchange or designated (or approved for designation) upon notice of issuance as a national market
security on an interdealer quotation system if such securities exchange or interdealer quotation system has been certified in accordance
with applicable state law.

“Nonstatutory Stock Option” means an Option that does not qualify as an Incentive Stock Option.

“Officer” means any person designated by the Board as an officer of the Company.

“Option” means an Incentive Stock Option or a Nonstatutory Stock Option granted pursuant to the Plan.

2 —2024 Equity Incentive Plan

“Option Agreement” means a written agreement between the Company and an Optionholder evidencing the terms and
conditions of an individual Option grant. Each Option Agreement shall be subject to the terms and conditions of the Plan.

“Optionholder” means a person to whom an Option is granted pursuant to the Plan or, if applicable, such other
person who holds an outstanding Option.

“Participant” means a person to whom a Stock Award is granted pursuant to the Plan or, if applicable, such
other person who holds an outstanding Stock Award.

“Plan” means this Bioventrix, Inc. 2024 Equity Incentive Plan.

“Restricted Stock Award” means an award of shares of Common Stock which is granted pursuant to Section 7.

“Restricted Stock Award Agreement” means a written agreement between the Company and a holder of a Restricted Stock
Award evidencing the terms and conditions of a Restricted Stock Award. Each Restricted Stock Award Agreement shall be subject to the
terms and conditions of the Plan.

“Securities Act” means the Securities Act of 1933, as amended.

“Stock Award” means any right granted under the Plan, including an Option or a Restricted Stock Award.

“Stock Award Agreement” means a written agreement between the Company and a holder of a Stock Award evidencing the
terms and conditions of an individual Stock Award grant. Each Stock Award Agreement shall be subject to the terms and conditions of the
Plan.

“Ten Percent Stockholder” means a person who owns (or is deemed to own pursuant to Section 424(d) of the Code) stock
possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any of its Affiliates.

ADMINISTRATION

Administration by Board. The Board shall administer the Plan unless and until the Board delegates administration to a Committee,
as provided in subsection 3(c).

Powers of Board. The Board shall have the power, subject to, and within the limitations of, the express provisions of the
Plan:

To determine from time to time which of the persons eligible under the Plan shall be granted Stock Awards; when and how each Stock
Award shall be granted; what type or combination of 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.