Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 26

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 26
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 equal annual installments beginning on the first grant date anniversary. The RSU awarded on November
23, 2022 vested 25% on the grant date with the remaining RSU vesting in three equal annual installments beginning on the first grant date
anniversary. The total RSUs outstanding awarded to our NEOs totaled 892 with a market value totaling approximately $8,251 as of June 30,
2025.

Potential Payments Upon Termination or Change-in-Control

Under the terms of the 2019 Plan, awards may be granted to employees, directors,
and consultants; however, incentive stock options are available only to employees. If service is terminated, vested stock options generally
remain exercisable for 90 days. In the event of termination due to death or disability, the options may be exercisable for up to one year,
unless the Compensation Committee decides otherwise. No stock option may be exercised beyond its original expiration date.

Any unvested restricted stock and restricted stock units at the time of
termination are forfeited unless the Compensation Committee decides otherwise. If a participant's service is terminated for cause, all
outstanding awards are immediately forfeited.

The 2019 Plan does not automatically accelerate awards in the event of
a change in control; any such treatment is determined under the terms of the applicable award agreement or at the discretion of the Compensation
Committee.

| -17- |

Director Compensation

There are no arrangements pursuant to which our directors are or will be
compensated in the future for any services provided to the Company.

The following table provides information regarding compensation that was
earned or paid to the individuals who served as non-employee directors during the year ended June 30, 2025. Except as set forth in the
table, during the fiscal year 2025, directors did not earn nor receive cash compensation or compensation in the form of stock awards,
options awards or any other form:

| Name               |     | Fees      
 earned or 
 paid in   
 cash      |        |     | Stock     
 awards(1) |         |     | Option    
 awards(1) |         |     | Non-equity   
 incentive    
 plan         
 compensation |   |     | Change in     
 pension value 
 and           
 nonqualified  
 deferred      
 compensation  |   |     | All other    
 compensation |   |     | Total |         |
|:-------------------|:----|:----------|-------:|:----|:----------|--------:|:----|:----------|--------