Company: BIVIW
Filing Date: 2025-10-06
Form Type: POS AM
Source: 0001520138-25-000294
Chunk: 35

Company: BIOVIE INC.
Filing Date: 2025-10-06
Form: POS AM
Chunk 35
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RS 78.138, or (ii) acted in good faith and in a manner the officer or director
reasonably believed to be in or not opposed to the best interests of the corporation and, if a criminal action or proceeding, had no reasonable
cause to believe the conduct of the officer or director was unlawful. Section 78.7502 also provides that a corporation may not indemnify
a director or officer under this section with respect to an action by or on behalf of the corporation if such person has been adjudged
to be liable to the corporation or for amounts paid to the corporation in settlement of such claim unless and only to the extent the court
determines in view of all circumstances of the case, the person is fairly and reasonably entitled to indemnification. Indemnification
under NRS 78.7502 generally may be made by the corporation only if determined to be proper under the circumstances. Such determination
must be made by the stockholders, directors not a party to the action, or legal counsel.

Section 78.751 of the NRS requires a corporation to
indemnify its officers and directors if they have been successful on the merits or otherwise in defense of any claim, issue, or matter
resulting from their service as a director or officer. Section 78.751 of the NRS allows a corporation to advance expenses as incurred
upon receipt of an undertaking by or on behalf of the officer or director to repay the amount if it is ultimately determined by a court
of competent jurisdiction that such officer or director is not entitled to be indemnified by the corporation if so provided in the corporation’s
articles of incorporation, bylaws, or other agreement. Advancement of expenses as incurred may be required under corporation’s articles
of incorporation or bylaws or by agreement. Section 78.751 of the NRS further permits the corporation to grant its directors and officers
additional rights of indemnification under its articles of incorporation, bylaws or other agreement.

Section 78.752 of the NRS provides that a Nevada corporation
may purchase and maintain insurance or make other financial arrangements on behalf of any person who is or was a director, officer, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another
company, partnership, joint venture, trust or other enterprise, for any liability asserted against him and liability and expenses incurred
by him in his capacity as a director, officer,