Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 40

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 40
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The purpose of the 2019 Plan is to help us attract, retain and provide
incentives to employees, directors, and consultants of the Company and its Affiliates, and to align the interests of such service providers
with those of the Company’s stockholders. Stockholder approval of the 2025 Restatement is being sought in accordance with the terms
of the Plan and to satisfy the Nasdaq Capital Market rules. If the stockholders do not approve this 2025 Restatement at the Annual Meeting,
it will not become effective and the number of shares authorized for issuance under the 2019 Plan, as amended on November 7, 2024, will
not be increased to 3,100,000 shares.

Administration

The 2019 Plan is administered by a Committee of the Board of Directors
(the “Plan Committee”) consisting of persons who are each (i) “non-employee directors” within the meaning of Rule
16b-3 of the Exchange Act, or Non-Employee Directors, and (ii) “independent” for purposes of any applicable listing requirements;
however, the Board of Directors or the Plan Committee may delegate to a committee of one or more members of the Board of Directors who
are not Non-Employee Directors, the authority to grant awards to eligible persons who are not then subject to the requirements of Section
16 of the Exchange Act. If a member of the Plan Committee is eligible to receive an award under the 2019 Plan, such Plan Committee member
shall have no authority hereunder with respect to his or her own award. Among other things, the Plan Committee has complete discretion,
subject to the terms of the 2019 Plan, to determine the employees, non-employee directors and non-employee consultants to be granted awards
under the 2019 Plan, the type of awards to be granted, the number of shares subject to each award, the exercise price under each option
and the base price for each stock appreciation right (“SAR”), the term of each award, the vesting schedule for an award, whether
to accelerate vesting, the value of the shares underlying the award, and the required withholdings, if any. The Plan Committee is also
authorized to construe the award agreements, and may prescribe rules relating to the 2019 Plan.

Grant of Awards; Shares Available for Awards

The 2019 Plan provides for the grant of awards which are incentive stock
options (“ISOs”), non-qualified stock options