Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 121

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 121
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 also provides that the compensation committee may, in its
sole discretion, retain or obtain the advice of a compensation consultant, independent legal counsel or other adviser and will be directly
responsible for the appointment, compensation and oversight of the work of any such adviser. However, before engaging or receiving advice
from a compensation consultant, external legal counsel or any other adviser, the compensation committee will consider the independence
of each such adviser, including the factors required by Nasdaq and the SEC.

Compensation Committee Interlocks and Insider Participation

None of our officers currently serves, or in the past year has served,
as a member of the compensation committee of any entity that has one or more officers serving on our Board of Directors.

Nominating and Corporate Governance Committee

We have established a nominating and corporate governance committee
of the Board of Directors. The members of our nominating and corporate governance committee are Jim Lang and Michael Sherman. Mr. Lang
has served as chair of the nominating and corporate governance committee since August 2021.

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We have adopted a nominating and corporate governance committee charter,
which details the purpose and responsibilities of the nominating and corporate governance committee, including:

| · | identifying, screening and reviewing individuals qualified to serve as directors, consistent with criteria approved by the Board of   
 Directors, and recommending to the Board of Directors candidates for nomination for election at the annual meeting of stockholders or 
 to fill vacancies on the Board of Directors;                                                                                          |

| · | developing and recommending to the Board of Directors and overseeing implementation of our corporate governance guidelines; |

| · | coordinating and overseeing the annual self-evaluation of the Board of Directors, its committees, individual directors and management 
 in the governance of the company; and                                                                                                 |

| · | reviewing on a regular basis our overall corporate governance and recommending improvements as and when necessary. |

The charter also provides that the nominating and corporate governance
committee may, in its sole discretion, retain or obtain the advice of, and terminate, any search firm to be used to identify director
candidates, and will be directly responsible for approving the search firm’s fees and other retention terms.

We have not formally established any specific, minimum qualifications
that must be met or skills that are necessary for directors to possess. In general, in identifying and evaluating nominees for director,
the Board of Directors considers educational background, diversity of professional experience, knowledge of our business, integrity, professional
reputation, independence, wisdom, and the ability to represent