Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 70

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 70
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 Award
is made under this Article XII, the Company and the Holder shall enter into a Performance Stock Agreement setting forth each of the matters
contemplated thereby and such other matters as the Committee may determine to be appropriate. The Committee shall set forth in the applicable
Performance Stock Agreement the Performance Period, selected Performance Criteria and Performance Goals which the Holder and/or the Company
would be required to satisfy before the Holder would become entitled to the receipt of Shares pursuant to such Holder’s Performance
Stock Award and the number of Shares subject to such Performance Stock Award. Such distribution shall be subject to a “substantial
risk of forfeiture” under Section 409A of the Code. If such Performance Goals are achieved, the distribution of Shares (or the payment
of cash, as determined in the sole discretion of the Committee), shall be made no later than by the fifteenth (15th) day of the third
(3rd) calendar month next following the end of the Company’s fiscal year to which such goals and objectives relate. At the time
of such Award, the Committee may, in its sole discretion, prescribe additional terms and conditions or restrictions relating to Performance
Stock Awards, including, but not limited to, rules pertaining to the effect of the Holder’s Termination of Service prior to the
expiration of the applicable performance period. The terms and conditions of the respective Performance Stock Agreements need not be identical.

12.3 . The Holder of
a Performance Stock Award shall be entitled to receive a cash payment equal to the Fair Market Value of a Share, or one Share, as determined
in the sole discretion of the Committee, for each Performance Stock Award subject to such Performance Stock Agreement, if the Holder satisfies
the applicable vesting requirement. Such distribution shall be made no later than by the fifteenth (15th) day of the third (3rd) calendar
month next following the end of the Company’s fiscal year to which such performance goals and objectives relate.

<div align='center'>ARTICLE XIII

STOCK APPRECIATION RIGHTS</div>

13.1 . Two types of
Stock Appreciation Rights (“SARs”) shall be authorized for issuance under the Plan: (1) stand-alone SARs and (2) stapled SARs.
The Award Agreement granting an SAR shall be in such form and shall contain such terms and conditions as the Committee shall deem appropriate
and shall not include terms which cause the Award to be considered non-qualified deferred compensation subject to the provisions of Code
Section