Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 62

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 62
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 had been outstanding.
Should the Committee effect such determination with respect to such Holder, for all purposes of the Plan, such Holder shall not be treated
as if his or her employment or Director status had terminated until such time as his or her Consultant status shall terminate, in which
case his or her Award, as it may have been reduced in connection with the Holder’s becoming a Consultant, shall be treated pursuant
to the provisions of Section 6.2, provided, however, that any such Award which is intended to be an Incentive Stock Option shall, upon
the Holder’s no longer being an Employee, automatically convert to a Non-qualified Stock Option. Should a Holder’s status
as a Consultant terminate, and if, within ninety (90) days of such termination, such Holder shall become an Employee or a Director, such
Holder’s rights with respect to any Award or portion thereof granted thereto prior to the date of such termination may be preserved,
if and to the extent determined by the Committee in its sole discretion, as if such Holder had been an Employee or a Director, as applicable,
for the entire period during which such Award or portion thereof had been outstanding, and, should the Committee effect such determination
with respect to such Holder, for all purposes of the Plan, such Holder shall not be treated as if his or her Consultant status had terminated
until such time as his or her employment with the Company or an Affiliate, or his or her Director status, as applicable, shall terminate,
in which case his or her Award shall be treated pursuant to the provisions of Section 6.2.

6.4 . Notwithstanding
anything in this Article VI or elsewhere in the Plan to the contrary, and unless a Holder’s Award Agreement specifically provides
otherwise, in the event of a Holder’s Termination of Service for Cause, all of such Holder’s then outstanding Awards shall
expire immediately and be forfeited in their entirety upon such Termination of Service.

<div align='center'>ARTICLE VII

OPTIONS</div>

7.1 . The term of each Option shall
be as specified in the Option Agreement; provided, however, that except as set forth in Section 7.3, no Option shall be exercisable after
the expiration of ten (10) years from the date of its grant.

7.2 . An Option
shall be exercisable in whole or in such installments and at such times as specified in the Option Agreement.

7.3 .
To the extent that the aggregate Fair Market