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

Chunk 2 of 6
Word Count: 1500
Character Count: 9086

Document Content:

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

Transferability of Options. During the lifetime of the Optionholder, an Option shall be exercisable only by the Optionholder
or the Optionholder’s guardian or legal representative. No Option shall be assignable or transferable by the Optionholder, except
by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent permitted by the Board, in its discretion,
and set forth in the Option Agreement evidencing such Option, a Nonstatutory Stock Option shall be assignable or transferable subject
to the applicable limitations, if any, described in Delaware state law, Rule 701 under the Securities Act, and the General Instructions
to Form S-8 Registration Statement under the Securities Act.

Vesting Generally. The total number of shares of Common Stock subject to an Option may, but need not, vest and therefore
become exercisable in periodic installments that may, but need not, be equal. The Option may be subject to such other terms and conditions
on the time or times when it may be exercised (which may be based on performance or other criteria) as the Board may deem appropriate.
The vesting provisions of individual Options may vary. The provisions of this subsection 6(f) are subject to any Option provisions governing
the minimum number of shares of Common Stock as to which an Option may be exercised.

Termination of Continuous Service. In the event an Optionholder’s Continuous Service terminates (other than upon
the Optionholder’s death or Disability), the Optionholder may exercise his or her Option (to the extent that the Optionholder was
entitled to exercise such Option as of the date of termination) but only within such period of time ending on the earlier of (i) the
date ninety (90) days following the termination of the Optionholder’s Continuous Service (or such longer or shorter period specified
in the Option Agreement); or (ii) the expiration of the term of the Option as set forth in the Option Agreement. If, after termination,
the Optionholder does not exercise his or her Option within the time specified herein or in the Option Agreement, as applicable, the
Option shall terminate.

Extension of Termination Date. An Optionholder’s Option Agreement may also provide that if the exercise of the Option
following the termination of the Optionholder’s Continuous Service (other than upon the Optionholder’s death or Disability)
would be prohibited at any time solely because the issuance of shares of Common Stock would violate the registration requirements under
the Securities Act, then the Option shall terminate on the earlier of (i) the expiration of a period of ninety (90) days after the termination
of the Optionholder’s Continuous Service during which the exercise of the Option would not be in violation of such registration
requirements or (ii) the expiration of the term of the Option as set forth in the Option Agreement.

Disability of Optionholder. In the event that an Optionholder’s Continuous Service terminates as a result
of the Optionholder’s Disability, the Optionholder may exercise his or her Option (to the extent that the Optionholder was entitled
to exercise such Option as of the date of termination), but only within such period of time ending on the earlier of (i) the date six
(6) months following such termination (or such longer period specified in the Option Agreement); or (ii) the expiration of the term of
the Option as set forth in the Option Agreement. If, after termination, the Optionholder does not exercise his or her Option within the
time specified herein or in the Option Agreement, as applicable, the Option shall terminate.

6 —2024 Equity Incentive Plan

Death of Optionholder. In the event (i) an Optionholder’s Continuous Service terminates as a result of the
Optionholder’s death or (ii) the Optionholder dies within the period (if any) specified in the Option Agreement after the termination
of the Optionholder’s Continuous Service for a reason other than death, then the Option may be exercised (to the extent the Optionholder
was entitled to exercise such Option as of the date of death) by the Optionholder’s estate, by a person who acquired the right
to exercise the Option by bequest or inheritance or by a person designated to exercise the option upon the Optionholder’s death
pursuant to subsection 6(e), but only within the period ending on the earlier of (1) the date six (6) months following the date of death
(or such longer period specified in the Option Agreement); or (2) the expiration of the term of such Option as set forth in the Option
Agreement. If, after death, the Option is not exercised within the time specified herein or in the Option Agreement, as applicable, the
Option shall terminate.

Exercise of In-the-Money Options. With respect to any Option issued at an exercise price lower than the Fair Market Value,
the Board may limit and or require exercise of such Option upon the occurrence of specific events, such as death, disability, an unforeseen
emergency, a specified time or fixed schedule, termination of Continuous Service or a Corporate Transaction, or as otherwise may be necessary
for such Option to comply with the requirements of Section 409A of the Code.

Early Exercise. The Option may, but need not, include a provision whereby the Optionholder may elect at any time
before the Optionholder’s Continuous Service terminates to exercise the Option as to any part or all of the shares of Common Stock
subject to the Option prior to the full vesting of the Option. Subject to the Repurchase Limitation in subsection 10(h), any unvested
shares of Common Stock so purchased may be subject to a repurchase option in favor of the Company or to any other restriction the Board
determines to be appropriate.

Right of Repurchase. Subject to the Repurchase Limitation in subsection 10(h), the Option may, but need not, include a
provision whereby the Company may elect, prior to the Listing Date, to repurchase all or any part of the unvested shares of Common Stock
acquired by the Optionholder pursuant to the exercise of the Option.

Right of First Refusal. The Option may, but need not, include a provision whereby the Company may elect, prior to the Listing
Date, to exercise a right of first refusal following receipt of notice from the Optionholder of the intent to transfer all or any part
of the shares of Common Stock received upon the exercise of the Option.

PROVISIONS OF STOCK AWARDS OTHER THAN OPTIONS. Each Restricted Stock Award Agreement
shall be in such form and shall contain such terms and conditions as the Board shall deem appropriate. The terms and conditions of the
Restricted Stock Award may change from time to time, and the terms and conditions of separate Restricted Stock Award Agreements need
not be identical, but each Restricted Stock Award shall include (through incorporation of provisions hereof by reference in the agreement
or otherwise) the substance of each of the following provisions:

Purchase Price. The purchase price under each Restricted Stock Award shall be established by the Board on the date such
award is made or at the time the purchase is consummated. Notwithstanding the foregoing, a Restricted Stock Award may be awarded as a
stock bonus, with no cash purchase price to be paid, to the extent permitted under applicable law.

7 —2024 Equity Incentive Plan

Consideration. 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.