Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 65

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 65
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 price (i)
shall not be less than the Fair Market Value of an Share on the date such Option is granted (or 110% of Fair Market Value for an Incentive
Stock Option held by Ten Percent Stockholder, as provided in Section 7.3), and (ii) shall be subject to adjustment as provided in Article
XIV. The Option or portion thereof may be exercised by delivery of an irrevocable notice of exercise to the Company. The Option price
for the Option or portion thereof shall be paid in full in the manner prescribed by the Committee as set forth in the Plan and the applicable
Option Agreement, which manner, with the consent of the Committee, may include the withholding of Shares otherwise issuable in connection
with the exercise of the Option. Separate share certificates shall be issued by the Company for those Shares acquired pursuant to the
exercise of an Incentive Stock Option and for those Shares acquired pursuant to the exercise of a Non-qualified Stock Option.

7.6 . The Holder
of an Option shall be entitled to all the privileges and rights of a stockholder of the Company solely with respect to such Shares as
have been purchased under the Option and for which share certificates have been registered in the Holder’s name.

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7.7 . Options may be granted under the Plan from time to time in substitution for stock options
held by individuals employed by entities who become Employees, Directors or Consultants as a result of a merger or consolidation of the
employing entity with the Company or any Affiliate, or the acquisition by the Company or an Affiliate of the assets of the employing entity,
or the acquisition by the Company or an Affiliate of stock or shares of the employing entity with the result that such employing entity
becomes an Affiliate.

<div align='center'>ARTICLE VIII

RESTRICTED STOCK AWARDS</div>

8.1 . A Restricted Stock Award shall constitute
an Award of Shares to the Holder as of the date of the Award which are subject to a “substantial risk of forfeiture” as defined
under Section 83 of the Code during the specified Restriction Period. At the time a Restricted Stock Award is made, the Committee shall
establish the Restriction Period applicable to such Award. Each Restricted Stock Award may have a different Restriction Period, in the
discretion of the Committee. The Restriction Period applicable to a particular Restricted Stock Award shall not be changed except as permitted
by Section 8.2.

8.2 . At the