Document:

Exhibit 10.1

 

AMENDED AND RESTATED PROMISSORY NOTE

 

		$300,000.00	August 30, 2021

 

For value received, GENERATION HEMP, INC., a Delaware
corporation (the “Borrower”), promises to pay to GARY C. EVANS, an individual, or his assigns (the “Holder”),
the principal sum of $300,000 (U.S. Dollars), together with all accrued and unpaid interest thereon as set forth below. It is expressly
understood that the commitment to provide the first principal sum of $100,000 was agreed to on July 20, 2021 and all provisions of this
unsecured promissory note shall be deemed effective as of such date and all financial obligations shall accrue from such date with respect
to such amount. It is expressly understood that the commitment to provide the second principal sum of $100,000.00 was agreed to on August
3, 2021 and all provisions of this unsecured promissory note shall be deemed effective as of such date and all financial obligations shall
accrue from such date with respect to such amount. It is expressly understood that the commitment to provide the third principal sum of
$100,000.00 was agreed to on August 30, 2021 and all provisions of this unsecured promissory note shall be deemed effective as of such
date and all financial obligations shall accrue from such date with respect to such amount. All payments of principal and interest hereunder
shall be made by check or wire transfer pursuant to wire transfer instructions that may be provided by the Holder to the Borrower from
time to time.

 

		1.	Payments. The Borrower shall make the principal payment on January 1, 2022 to the Holder, together with accrued and
unpaid interest hereunder. Notwithstanding to the contrary, all outstanding principal and all accrued and unpaid interest hereunder shall
be due and payable in full at that time.

 

		2.	Interest Rate. Simple interest on the unpaid principal balance of this Note shall accrue at the lesser of ten percent
(10%) per annum and the highest rate permitted by law. If an Event of Default (as defined below) shall occur under this Note, interest
shall immediately commence accruing at a default rate of twelve percent (12%) per annum.

 

		3.	Default. The occurrence of any of the following events of default (each, an “Event of Default”) shall,
at the option of the Holder thereof, make all principal and interest (to the extend accrued) then remaining unpaid hereon and all other
amounts payable hereunder immediately due and payable, upon written demand, without presentment, or grace period, all of which hereby
are expressly waived, except as set forth below:

 

		(a)	Failure to Pay Principal or Interest. The Borrower fails to pay any installment of principal or interest due under this Note
when due and such failure continues for a period of five (5) days after written notice.

 

		(b)	Receiver or Trustee. The Borrower shall make an assignment for the benefit of creditors, or applies for or consents to the
appointment of a receiver or trustee for it or for a substantial part of its property or business; or such a receiver of trustee shall
otherwise be appointed without the consent of the Borrower, which shall constitute an automatic Event of Default and shall result in all
remaining unpaid principal and interest due hereon immediately due and payable without the written demand from the Holder.

 

    PROMISSORY NOTE – Page 1

     

    

 

		(c)	Bankruptcy. Bankruptcy, insolvency, reorganization, or liquidation proceedings or other proceedings or relief under any bankruptcy
law or any law, or the issuance of any notice in relation to such event, for the relief of debtors shall be instituted by or against the
Borrower, which shall constitute an automatic Event of Default and shall result in all remaining unpaid principal and interest due hereon
immediately due and payable without the written demand from the Holder.

 

		4.	Termination. Upon payment of all cash amounts due to the Holder as provided in this Note, the Borrower will forever
be released from all of its payment obligations and liabilities under this Note and the Holder agrees to promptly return to the Borrower
the Note marked “paid in full”. This Note may be prepaid, in whole or in part, without the prior consent of the Holder.

 

		5.	Miscellaneous

 

		(a)	Successors and Assigns. This Note shall be binding upon successors and assigns of the Borrower, and shall inure to the benefit
of the successors and permitted assigns of the Holder.

 

		(b)	Severability. The unenforceability or invalidity of any provision or provisions of this Note shall not render any other provision
or provisions herein contained unenforceable or invalid.

 

		(c)	Notice. Any notice or communication required to be given hereunder may be delivered by hand or deposited with an overnight
courier (with overnight delivery instructions), if to the Borrower, to the address of the Borrower’s corporate headquarters, and
if to the Holder, to the last address of the Holder set forth in the Borrower’s books and records. Notice shall be deemed given
and received on the date sent if sent by personal delivery; and one (1) day after the date sent if sent by overnight courier.

 

		(d)	Entire Agreement. This Note contains the entire and complete understanding between the parties concerning its subject matter
and all representations, agreements, arrangements, and understandings between or among the parties, whether oral or written, have been
fully merged herein and are superseded thereby, except for representations, agreements, and understandings between or among the parties
made pursuant to the Purchase Agreement and any other agreements entered into in connection therewith and herewith. The Note may be modified
only by a writing signed by both parties.

 

    PROMISSORY NOTE – Page 2

     

    

 

		(e)	Governing Law; Attorneys’ Fees. This Note shall be governed by and construed in accordance with the laws of the State
of Texas, without giving effect to its principles regarding conflicts of law. Upon default, the breaching party agrees to pay to the non-breaching
party reasonable attorneys’ fees, plus all other reasonable expenses, incurred by the non-breaching party in exercising any of the
non-breaching party’s rights and remedies.

 

		(f)	Jurisdiction. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of the
State of Texas, Dallas County, and to the jurisdiction of the United States District Court for the State of Texas, for the purpose of
any suit, action, or other proceeding arising out of or based upon this Note; (b) agree not to commence any suit, action, or other proceeding
arising out of or based upon this Note except in the state courts of the State of Texas, Dallas County, or the United States District
Court for the State of Texas; and (c) hereby waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such
suit, action, or proceeding, any claim that it is not subject personally to the jurisdiction of the above named courts, that its property
is exempt or immune from attachment or execution, that the suit, action, or proceeding is brought in an inconvenient forum, that the venue
of the suit, action, or proceeding is improper or that this Note or the subject matter hereof may not be enforced in or by such court.

 

		(g)	FINAL AGREEMENT. THIS NOTE AND ALL OTHER INSTRUMENTS, DOCUMENTS, AND AGREEMENTS EXECUTED AND DELIVERED BY THE BORROWER IN
CONNECTION WITH THE INDEBTEDNESS EVIDENCED BY THIS NOTE EMBOTY THE FINAL, ENTIRE AGREEMENT OF THE BORROWER AND THE HOLDER WITH RESPECT
TO THE INDEBTEDNESS EVIDENCED BY THIS NOTE AND SUPERSEDE ANY AND ALL PRIOR COMMITMENTS, AGREEMENTS, REPRESENTATIONS, AND UNDERSTANDINGS,
WHETHER WRITTEN OR ORAL, RELATING TO THE INDEBTEDNESS EVIDENCED BYT HIS NOTE AND MAY NOT BE CONTRADICTED OR VARIED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS OR SUBSEQUENT ORAL AGREEMENTS OR DISCUSSIONS OF THE BORROWER AND THE HOLDER. THERE ARE NO ORAL AGREEMENTS BETWEEN THE
BORROWER AND THE HOLDER.

 

		(h)	Subordination. By its acceptance hereof, the Holder agrees that the indebtedness evidenced by this Note, including the principal
of and interest thereon, shall be subordinate to and subject in right of payment, to the extent hereinafter set forth, to the prior payment
in full of all principal, interest, and any other sums then due on all existing or future Senior Indebtedness of the Borrower. The term
“Senior Indebtedness” shall mean secured and unsecured indebtedness of the Borrower, or with respect to which the Borrower
is a guarantor, for money borrowed by the Borrower from any financial institution or other sources prior to the date of this unsecured
promissory note.

 

Signature Page Follows

 

    PROMISSORY NOTE – Page 3

     

    

 

IN WITNESS WHEREOF, the Borrower has executed
this Note as of the date set forth above.

 

	 	GENERATION HEMP, INC.,
	 	a Colorado Corporation
	 	 
	 	By:	 /s/ Chad Burkhardt
	 	 	Chad Burkhardt
	 	 	Vice President & General Counsel

 

 

PROMISSORY
NOTE – Page 4Exhibit 4.4

 

DESCRIPTION OF REGISTRANT’S
SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

References to “BioVie” and the “Company”
herein are, unless the context otherwise indicates, only to BioVie Inc. and not to any of its subsidiaries.

 

The following description of the Company’s
capital stock and provisions of the Company’s Articles of Incorporation, bylaws and the Nevada corporations law are summaries
and are qualified in their entirety by reference to our Articles of Incorporation and our bylaws. We have filed copies of these
documents with the SEC as exhibits to the Annual Report on Form 10-K to which this description has been filed as an exhibit. Pursuant
to our Articles of Incorporation, as amended, our authorized capital stock consists of 800,000,000 shares of Class A common stock,
par value of $0.0001 per share (referred to as the Company’s common stock), and 10,000,000 shares of preferred stock, par
value $0.001 per share, to be designated from time to time by the Company’s Board of Directors.

 

Common Stock

 

BioVie is authorized to issue up to 800,000,000
shares of Class A common stock, par value $0.0001 per share. Each outstanding share of common stock entitles the holder thereof
to one vote per share on all matters. The Company’s bylaws provide that elections for directors shall be by a plurality of
votes. Stockholders do not have preemptive rights to purchase shares in any future issuance of common stock. Upon our liquidation,
dissolution or winding up, and after payment of creditors and preferred stockholders, if any, the Company’s assets will be
divided pro-rata on a share-for-share basis among the holders of the shares of common stock.

 

The holders of shares of common stock are entitled
to dividends out of funds legally available when and as declared by BioVie’s Board of Directors. The Company’s Board
of Directors has never declared a dividend and does not anticipate declaring a dividend in the foreseeable future.

 

All of the issued and outstanding shares of
common stock are duly authorized, validly issued, fully paid and non-assessable. To the extent that additional shares of our common
stock are issued, the relative interests of existing stockholders will be diluted.

 

As of August 27, 2021, there were
24,833,324 shares of common stock outstanding.

 

Preferred Stock

 

BioVie is authorized to issue up to 10,000,000
shares of preferred stock, par value $0.001 per share, in one or more classes or series within a class as may be determined by
the Company’s Board of Directors, who may establish, from time to time, the number of shares to be included in each class
or series, may fix the designation, powers, preferences and rights of the shares of each such class or series and any qualifications,
limitations or restrictions thereof. Any preferred stock so issued by the Board of Directors may rank senior to the common stock
with respect to the payment of dividends or amounts upon liquidation, dissolution or winding up of BioVie, or both. Moreover, under
certain circumstances, the issuance of preferred stock or the existence of the unissued preferred stock might tend to discourage
or render more difficult a merger or other change of control.

 

As of August 27, 2021, there were no shares
of our preferred stock outstanding.

 

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Anti-Takeover Effects of Our
Articles of Incorporation and Bylaws

 

The Company’s Articles of Incorporation
and bylaws contain certain provisions that may have anti-takeover effects, making it more difficult for or preventing a third party
from acquiring control of us or changing BioVie’s Board of Directors and management. According to the Company’s Articles
of Incorporation and bylaws, neither the holders of common stock nor the holders of any preferred stock that may be issued in the
future have cumulative voting rights in the election of directors. The combination of the present ownership by a few stockholders
of a significant portion of our issued and outstanding common stock and lack of cumulative voting makes it more difficult for other
stockholders to replace BioVie’s Board of Directors or for a third party to obtain control of the Company by replacing its
Board of Directors.

 

Anti-Takeover Effects of Nevada Law

 

Business Combinations

 

The “business combination” provisions
of Sections 78.411 to 78.444, inclusive, of the Nevada Revised Statutes, or NRS, generally prohibit a Nevada corporation with at
least 200 stockholders from engaging in various “combination” transactions with any interested stockholder for a period
of two years after the date of the transaction in which the person became an interested stockholder, unless the transaction is
approved by the board of directors prior to the date the interested stockholder obtained such status or the combination is approved
by the board of directors and thereafter is approved at a meeting of the stockholders by the affirmative vote of stockholders representing
at least 60% of the outstanding voting power held by disinterested stockholders, and extends beyond the expiration of the two-year
period, unless:

 

	the combination was approved by the board
of directors prior to the person becoming an interested stockholder or the transaction by which the person first became an interested
stockholder was approved by the board of directors before the person became an interested stockholder or the combination is later
approved by a majority of the voting power held by disinterested stockholders; or

	if the consideration to be paid by the interested
stockholder is at least equal to the highest of: (a) the highest price per share paid by the interested stockholder within the
two years immediately preceding the date of the announcement of the combination or in the transaction in which it became an interested
stockholder, whichever is higher, (b) the market value per share of common stock on the date of announcement of the combination
and the date the interested stockholder acquired the shares, whichever is higher, or (c) for holders of preferred stock, the highest
liquidation value of the preferred stock, if it is higher.

 

A “combination” is generally defined
to include mergers or consolidations or any sale, lease exchange, mortgage, pledge, transfer, or other disposition, in one transaction
or a series of transactions, with an “interested stockholder” having: (a) an aggregate market value equal to 5% or
more of the aggregate market value of the assets of the corporation, (b) an aggregate market value equal to 5% or more of the aggregate
market value of all outstanding shares of the corporation, (c) 10% or more of the earning power or net income of the corporation,
and (d) certain other transactions with an interested stockholder or an affiliate or associate of an interested stockholder.

 

In general, an “interested stockholder”
is a person who, together with affiliates and associates, owns (or within two years, did own) 10% or more of a corporation’s
voting stock. The statute could prohibit or delay mergers or other takeover or change in control attempts and, accordingly, may
discourage attempts to acquire the Company even though such a transaction may offer our stockholders the opportunity to sell their
stock at a price above the prevailing market price.

 

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Control Share Acquisitions

 

The “control share” provisions
of Sections 78.378 to 78.3793, inclusive, of the NRS apply to “issuing corporations” that are Nevada corporations with
at least 200 stockholders, including at least 100 stockholders of record who are Nevada residents, and that conduct business directly
or indirectly in Nevada. The control share statute prohibits an acquirer, under certain circumstances, from voting its shares of
a target corporation’s stock after crossing certain ownership threshold percentages, unless the acquirer obtains approval
of the target corporation’s disinterested stockholders. The statute specifies three thresholds: one-fifth or more but less
than one-third, one-third but less than a majority, and a majority or more, of the outstanding voting power. Generally, once an
acquirer crosses one of the above thresholds, those shares in an offer or acquisition and acquired within 90 days thereof become
“control shares” and such control shares are deprived of the right to vote until disinterested stockholders restore
the right. These provisions also provide that if control shares are accorded full voting rights and the acquiring person has acquired
a majority or more of all voting power, all other stockholders who do not vote in favor of authorizing voting rights to the control
shares are entitled to demand payment for the fair value of their shares in accordance with statutory procedures established for
dissenters’ rights.

 

A corporation may elect to not be governed
by, or “opt out” of, the control share provisions by making an election in its articles of incorporation or bylaws,
provided that the opt-out election must be in place on the 10th day following the date an acquiring person has acquired a controlling
interest, that is, crossing any of the three thresholds described above. We have not opted out of the control share statutes, and
will be subject to these statutes if we are an “issuing corporation” as defined in such statutes.

 

The effect of the Nevada control share statutes
is that the acquiring person, and those acting in association with the acquiring person, will obtain only such voting rights in
the control shares as are conferred by a resolution of the stockholders at an annual or special meeting. The Nevada control share
law, if applicable, could have the effect of discouraging takeovers of the Company.

 

Trading Market

 

The Company’s common stock trades on
the NASDAQ Stock Market under the ticker “BIVI.”

 

Transfer Agent and Registrar

 

The Company’s independent stock transfer
agent is West Coast Stock Transfer, Inc., located at 721 N. Vulcan Ave., Suite 106, Encinitas, California 92024. Their phone number
is (619) 664-4780.

 

Disclosure of Commission Position on Indemnification
for Securities Act Liabilities

 

Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to our directors, officers and controlling persons pursuant to the foregoing
provisions, the Company has been informed that in the opinion of the SEC such indemnification is against public policy as expressed
in the Securities Act and is, therefore, unenforceable.

 

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