Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 71

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 71
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409A. The terms and conditions of Stock Appreciation Right Award Agreements need not be identical, but each Award Agreement shall
include (through incorporation of provisions hereof by reference in the Award Agreement or otherwise) the substance of each of the following
provisions:

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(a) . Stand-alone
SARs shall cover a specified number of underlying shares of Common Stock and shall be redeemable upon such terms and conditions as the
Committee may establish. Upon redemption of the stand-alone SAR, the Holder shall be entitled to receive a distribution from the Company
in an amount equal to the excess, if any, of (i) the aggregate Fair Market Value on the redemption date of the Shares underlying the redeemed
right, over, (ii) the aggregate base price of such underlying Shares at the time of grant. The distribution shall be in cash or Shares,
as specified in the Award Agreement, unless distribution in Shares is necessary to avoid application of Code Section 409A, in which case
the distribution shall be in Shares. The number of Shares underlying each stand-alone SAR and the base price of such Shares shall be determined
by the Committee in its sole discretion at the time the stand-alone SAR is granted. In no event, however, may the base price be less than
one hundred percent (100%) of the Fair Market Value of the underlying Shares on the grant date.

(b) . Stapled SARs shall
only be granted concurrently with an Option to acquire the same number of Shares as the number of such Shares underlying the stapled SARs.
Stapled SARs shall be redeemable upon such terms and conditions as the Committee may establish and shall grant a Holder the right to elect
among (i) the exercise of the concurrently granted Option for Shares, whereupon the number of Shares subject to the stapled SARs shall
be reduced by an equivalent number, (ii) the redemption of such stapled SARs in exchange for a distribution from the Company in an amount
equal to the excess of the Fair Market Value on the redemption date of the number of vested Shares which the Holder redeems over the aggregate
base price for such vested Shares, whereupon the number of Shares subject to the concurrently granted Option shall be reduced by any equivalent
number, or (iii) a combination of (i) and (ii). The distribution under alternative (ii) shall be in cash or Shares as specified in the
Award Agreement unless distribution in Shares is necessary to avoid application of Code Section 409