Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 63

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 63
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 Value (determined at the time the respective Incentive Stock Option is granted) of Shares
with respect to which Incentive Stock Options are exercisable for the first time by an individual during any calendar year under all plans
of the Company and any parent corporation or subsidiary corporation thereof (both as defined in Section 424 of the Code) which provide
for the grant of Incentive Stock Options exceeds One Hundred Thousand Dollars ($100,000) (or such other individual limit as may be in
effect under the Code on the date of grant), the portion of such Incentive Stock Options that exceeds such threshold shall be treated
as Non-qualified Stock Options. The Committee shall determine, in accordance with applicable provisions of the Code, Treasury Regulations
and other administrative pronouncements, which of a Holder’s Options, which were intended by the Committee to be Incentive Stock
Options when granted to the Holder, will not constitute Incentive Stock Options because of such limitation, and shall notify the Holder
of such determination as soon as practicable after such determination. No Incentive Stock Option shall be granted to an Employee if, at
the time the Incentive Stock Option is granted, such Employee is a Ten Percent Stockholder, unless (i) at the time such Incentive Stock
Option is granted the Option price is at least one hundred ten percent (110%) of the Fair Market Value of the Shares subject to the Incentive
Stock Option, and (ii) such Incentive Stock Option by its terms is not exercisable after the expiration of five (5) years from the date
of grant. No Incentive Stock Option shall be granted more than ten (10) years from the earlier of the Effective Date or date on which
the Plan is approved by the Company’s stockholders. The designation by the Committee of an Option as an Incentive Stock Option shall
not guarantee the Holder that the Option will satisfy the applicable requirements for “incentive stock option” status under
Section 422 of the Code.

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7.4 . Each Option shall be evidenced
by an Option Agreement in such form and containing such provisions not inconsistent with the other provisions of the Plan as the Committee
from time to time shall approve, including, but not limited to, provisions intended to qualify an Option as an Incentive Stock Option.
An Option Agreement may provide for the payment of the Option price, in whole or in part, by the delivery of a number