Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 47

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 47
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 and/or award to be exempt from
or comply with Section 409A of the Code).

Certain U.S. Federal Income Tax Consequences of the 2019 Plan

The following is a general summary of certain U.S. federal income tax consequences
under current tax law to the Company (to the extent it is subject to U.S. federal income taxation on its net income) and to participants
in the 2019 Plan who are individual citizens or residents of the United States for federal income tax purposes (“U.S. Participants”)
of stock options which are ISOs, or stock options which are NQSOs, unrestricted stock, restricted stock, restricted stock units, performance
stock, performance units and SARs. This summary does not purport to cover all of the special rules that may apply, including special rules
relating to limitations on our ability to deduct certain compensation, special rules relating to deferred compensation, golden parachutes,
U.S. Participants subject to Section 16(b) of the Exchange Act or the exercise of a stock option with previously-acquired common stock.
This summary assumes that U.S. Participants will hold their common stock as capital assets within the meaning of Section 1221 of the Code
. In addition, this summary does not address the foreign, state or local or other tax consequences, or any U.S. federal non-income tax
consequences, inherent in the acquisition, ownership, vesting, exercise, termination or disposition of an award under the 2019 Plan, or
shares issued pursuant thereto. Participants are urged to consult with their own tax advisors concerning the tax consequences to them
of an award under the 2019 Plan or shares issued thereunder pursuant to the 2019 Plan.

A U.S. Participant generally does not recognize taxable income upon the
grant of a NQSO if structured to be exempt from or comply with Code Section 409A. Upon the exercise of a NQSO, the U.S. Participant generally
recognizes ordinary compensation income in an amount equal to the excess, if any, of the fair market value of the shares acquired on the
date of exercise over the exercise price thereof, and the Company generally will be entitled to a deduction for such amount at that time.
If the U.S. Participant later sells shares acquired pursuant to the exercise of a NQSO, the U.S. Participant recognizes a long-term or
short-term capital gain or loss, depending on the period for which the shares were held. A long-term capital gain