Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 42

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 42
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 (both as defined in Section 424 of the Code), within the meaning
of Section 422(b)(6) of the Code (a “ten percent shareholder”), no option shall be exercisable after the expiration of ten
(10) years from the date of its grant (five (5) years for an employee who is a ten percent shareholder).

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The price at which a share may be purchased upon exercise of a stock option
shall be determined by the Plan Committee; provided, however, that such option price (i) shall not be less than the fair market value
of a share on the date such stock option is granted, and (ii) shall be subject to adjustment as provided in the 2019 Plan. The Plan Committee
or the Board of Directors shall determine the time or times at which, or the circumstances under which, a stock option may be exercised
in whole or in part, the time or times at which options shall cease to be or become exercisable following termination of the stock option
holder’s employment or upon other conditions, the methods by which such exercise price may be paid or deemed to be paid, the form
of such payment, and the methods by or forms in which shares will be delivered or deemed to be delivered to participants who exercise
stock options.

Options which are ISOs shall comply in all respects with Section 422 of
the Code. In the case of an ISO granted to a ten percent shareholder, the per share exercise price under such ISO (to the extent required
by the Code at the time of grant) shall be no less than 110% of the fair market value of a share on the date such ISO is granted. ISOs
may only be granted to employees of the Company. In addition, the aggregate fair market value of the shares subject to an ISO (determined
at the time of grant) which are exercisable for the first time by an employee during any calendar year under all plans of the Company
which provide for the grant of ISOs may not exceed $100,000. Any Option which specifies that it is not intended to qualify as an ISO or
any Option that fails to meet the ISO requirements at any point in time will automatically be treated as a NQSO under the terms of the
2019 Plan.

Unrestricted Stock Awards.

Pursuant to the terms of the applicable unrestricted stock award agreement,
an unrestricted stock award is the award or sale of shares to employees, non-employee directors or non-employee