<SEC-DOCUMENT>0001009448-14-000037.txt : 20140717
<SEC-HEADER>0001009448-14-000037.hdr.sgml : 20140717
<ACCEPTANCE-DATETIME>20140716175039
ACCESSION NUMBER:		0001009448-14-000037
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20140707
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140717
DATE AS OF CHANGE:		20140716

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BOVIE MEDICAL CORP
		CENTRAL INDEX KEY:			0000719135
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				112644611
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31885
		FILM NUMBER:		14978847

	BUSINESS ADDRESS:	
		STREET 1:		5115 ULMERTON RD.
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33760
		BUSINESS PHONE:		727-384-2323

	MAIL ADDRESS:	
		STREET 1:		5115 ULMERTON RD.
		CITY:			CLEARWATER
		STATE:			FL
		ZIP:			33760

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AN CON GENETICS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>bovie8krepreliminaryorder.htm
<DESCRIPTION>BOVIE 8-K RE: PRELIMINARY ORDER
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">TO SECTION 13 OR 15(D) OF THE</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">Date of Report (Date of earliest event reported)</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Item 8.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other Events</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">On July 7, 2014, the United States District Court for the Middle District of Florida, Tampa Division (the &#8220;Court&#8221;) <font style="BACKGROUND-COLOR: #ffffff; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">issued an Amended Order Preliminarily Approving Derivative Settlement and Providing for Notice (&#8220;Preliminary Order&#8221;) </font>preliminarily approving the previously disclosed Stipulation and Agreement of Settlement (the &#8220;Stipulation of Settlement&#8221;) setting forth the terms of the settlement of the claims asserted against Bovie Medical Corp. (the &#8220;Company&#8221;) and the individual defendants in the previously disclosed stockholder derivative action entitled <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Arbit, et al v. Makrides, et al</font> pending before the Court (the &#8220;Stockholder Derivative Action&#8221;). The Company had filed a Current Report on Form 8-K on July 2, 2014 disclosing the execution of the Stipulation of Settlement. <font style="BACKGROUND-COLOR: #ffffff; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">The Settlement Agreement remains subject to court approval, and requires the Company to make and/or codify certain corporate governance changes as more specifically described therein.&#160;&#160;In addition, counsel for the plaintiffs will be entitled to request that the court award of attorney&#8217;s fees and expenses of up to $850,000, subject to court approval, which amount would be fully funded by insurance proceeds.</font></font></font></font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">The Preliminary Order, which is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated herein by reference, set October 2, 2014 as the hearing date for final approval of the terms of the Stipulation of Settlement and approved the form of notice to stockholders (the &#8220;Notice&#8221;) and the form of summary notice to stockholders (the &#8220;Summary Notice&#8221;).&#160;&#160;</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">The Notice and the Stipulation of Settlement, each of which is attached hereto as Exhibit 99.2 and 99.4, respectively, and are incorporated herein by reference, will be posted on the Company&#8217;s website (<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">www.boviemedical.com</font>). The Summary Notice, which is attached hereto as Exhibit 99.3 and is incorporated herein by reference, will be published in the national edition of&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Investor&#8217;s Business Daily&#160;</font>as an additional form of notice to the Company stockholders.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="BACKGROUND-COLOR: #ffffff; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">The foregoing summary of the Preliminary Order, Stipulation of Settlement, Notice and Summary of Notice are qualified in their entirety by reference to the full texts of the Preliminary Order, Stipulation of Settlement, Notice and Summary of Notice, copies of which are filed as Exhibits 99.1, 99.2, 99.3 and 99.4 to this Current Report on Form 8-K.</font></font></div>
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<TYPE>EX-99.1
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<FILENAME>exhibit991.htm
<DESCRIPTION>EXHIBIT 99.1 - AMENDED ORDER PRELIMINARY APPROVING SETTLEMENT
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">IN THE UNITED STATES DISTRICT COURT</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">BRUCE A. ARBIT and MARK WINTERS,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">derivatively on behalf of Bovie Medical Corp.,</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 72pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Plaintiffs,</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">v.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Case No: 8:11-cv-02020-T-30TBM</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">ANDREW MAKRIDES, J. ROBERT SARON,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">GEORGE W. KROMER, MICHAEL G.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">NORMAN, AUGUST LENTRICCHIA, STEVEN</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">MACLAREN, GREGORY ALAN KONESKY,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">MOSHE CITRONOWICZ, PETER PARDOLL,</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">BOVIE MEDICAL CORP.,</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">This shareholder derivative action comes before the Court for consideration of the Parties&#8217; Joint Motion for Preliminary Approval of Settlement and the Parties&#8217; Joint Motion for Entry of Amended Preliminary Approval Order, both made pursuant to Federal Rule of Civil Procedure 23.1 (the &#8220;Motion&#8221;).&#160;&#160;This order amends and supersedes the Order Preliminarily Approving Settlement of Derivative Action and Providing for Notice (Dkt. 105) entered by the Court on July 2, 2014.&#160;&#160;Unless otherwise defined herein, all capitalized terms used in this Order have the meanings provided them in the Stipulation and Agreement of Settlement (Dkt. 99) (the &#8220;Stipulation&#8221;) entered into by the Parties.&#160;&#160;The Motion seeks the Court&#8217;s preliminary approval of the Settlement as provided for in the Stipulation, the scheduling of a Settlement Hearing to determine whether the Settlement and Stipulation should be approved as fair, reasonable, and adequate to Bovie Medical Corp. (&#8220;Bovie&#8221; or the &#8220;Company&#8221;) and its stockholders, and the establishment of procedures for providing notice to Bovie&#8217;s stockholders, as provided in the Stipulation.&#160;&#160;The Court has reviewed the Motion, supporting materials, and the Stipulation, and, upon due consideration,</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">IT IS HEREBY ORDERED, as follows:</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Court does hereby preliminarily approve, subject to further consideration at the Settlement Hearing, the Stipulation and the Settlement set forth therein, including the terms and conditions for the Settlement and dismissal with prejudice of the Action.</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Settlement Hearing shall be held before the undersigned judge of this Court on October 2, 2014 at 1:30 p.m., at Courtroom 17 of Sam M. Gibbons U.S. Courthouse, 801 N. Florida Avenue, Tampa, Florida 33602, to (a) determine whether the named Plaintiffs have fairly and adequately represented Bovie and its stockholders; (b) determine whether the Settlement provided by the Stipulation should be approved by the Court as fair, reasonable, adequate, and in the best interests of Bovie and its stockholders&#894; (c) hear and determine any objections to the Settlement in accordance with the procedures set forth in the Stipulation; (d) determine whether the Court should enter an Order and Final Judgment substantially in the form attached as Exhibit C to the Stipulation dismissing the Action with prejudice, and releasing, barring, and enjoining prosecution of any and all Released Claims against the Releasees&#894; (e) consider Plaintiffs&#8217; Counsel&#8217;s Application for a Fee and Expense Award.; and (f) consider Plaintiffs&#8217; application for an Enhancement Award.</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Court approves, as to form and content, the Notice attached as Exhibit D to the Stipulation and the Summary Notice attached as Exhibit A to the Parties&#8217; Joint Motion for Entry of Amended Preliminary Approval Order and finds that the filing and publication of the Notice and the Summary Notice in the manner set forth in this Order meets the requirements of Rule 23.1 of the Federal Rules of Civil Procedure and due process and is the best notice practicable under the circumstances and shall constitute due and sufficient notice of all matters relating to the Settlement and the Settlement Hearing to all persons and entities entitled thereto.</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No later than ten (10) days following entry of this Order, Bovie shall (a) cause the Notice to be filed with the United States Securities and Exchange Commission on Form 8-K and shall post the Notice and this Stipulation on its website and (b) cause the Summary Notice to be published for one day in Investor&#8217;s Business Daily.&#160;&#160;All costs associated with filing the Notice and posting the Notice and Stipulation as required by this paragraph shall be borne by Bovie.&#160;&#160;At least seven (7) days prior to the Settlement Hearing, Bovie&#8217;s Counsel shall file with the Court an affidavit or declaration confirming the filing and posting of the Notice and the Summary Notice in accord with these notice requirements.</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No later than ten (10) days following entry of this Order, each of Plaintiffs&#8217; Counsel shall post copies of the Notice and Stipulation on the websites of each of Plaintiffs&#8217; Counsel.&#160;&#160;All costs associated with posting the Notice and Stipulation as required by this paragraph shall be borne by Plaintiffs&#8217; Counsel.&#160;&#160;At least seven (7) days prior to the Settlement Hearing, Plaintiff&#8217;s Counsel shall file with the Court an affidavit or declaration confirming the filing and posting of the Notice in accord with these notice requirements.&#160;&#160;Any Bovie stockholder that continues to own such shares of Bovie common stock as of the date of the Settlement Hearing who objects to the Settlement or the application for a Fee and Expense Award by Plaintiffs&#8217; Counsel, or who otherwise wishes to be heard, may appear in person or through his, her, or its attorney at the Settlement Hearing and present any evidence or argument that may be proper and relevant&#894; provided, however, that no such person shall be heard, and no papers, briefs, pleadings, or other documents submitted by any such person shall be received and considered by the Court unless, no later than ten (10) calendar days prior to the Settlement Hearing, such person files with the Court, the following: (a) a written and signed notice of intention to appear which states the name, address and telephone number of the objector and, if represented, his, her or its counsel&#894; (b) proof that the objector owned shares of Bovie stock as of June 26, 2014 and continues to hold such shares&#894; and (c) a written detailed statement of the person&#8217;s objections to any matter before the Court, and the specific grounds therefor or the reasons why such person desires to appear and to be heard, as well as all documents and writings which such person desires the Court to consider, including any legal and evidentiary support.&#160;&#160;Any such filings with the Court must also be served upon each of the following counsel (by hand, first class U.S. mail, or express service) such that they are received no later than ten (10) calendar days prior to the Settlement Hearing:</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Fisher, Rushmer, Werrenrath, Dickson, Talley &amp; Dunlap, P.A.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">390 North Orange Avenue, Suite 2200</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unless the Court otherwise directs, any person who fails to object in the manner prescribed above shall be deemed to have waived his, her, or its right to object and shall be forever barred from raising any objection to the Settlement or the Fee and Expense Award, or any other matter related to the Settlement.</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">8.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All briefs in support of the approval of the Settlement and Plaintiffs&#8217; Counsel&#8217;s application for attorneys&#8217; fees and expenses shall be filed with the Court no later than fifteen (15) calendar days before the Settlement Hearing&#894; and reply papers, if any, shall be filed no later than three (3) calendar days before the Settlement Hearing.</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">9.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;All proceedings in the Action, other than such proceedings as may be necessary to carry out the terms and conditions of the Settlement and the Stipulation, are hereby stayed and suspended until further order of this Court. Pending final determination of whether the Settlement should be approved, Plaintiffs, Bovie, and all other Bovie stockholders, Defendants, and the Company are enjoined from filing, commencing, or prosecuting any Released Claims against the Releasees in the Action or in any other lawsuit in any jurisdiction.</font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">10.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If the Settlement is approved by the Court following the Settlement Hearing, the Court shall enter an Order and Final Judgment substantially in the form attached to the Stipulation as Exhibit E.</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">11.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;In the event that the Settlement is terminated pursuant to the terms of the Stipulation or the Effective Date otherwise fails to occur for any reason, the Settlement, and the Stipulation (other than &#182;&#182; 1.1-1.17 (to the extent they provide definitions), 5.2 (to the extent it requires the return of the Fee and Expense Award to Defendants&#8217; insurance carriers), 7.1, 8.3-8.13 thereof) shall be canceled and terminated&#894; this Order (other than &#182;&#182; 12 and 13 hereof) shall become null and void and be without prejudice to the rights of Plaintiffs, the other Bovie stockholders, Defendants, and the Company&#894; and all proceedings in, and parties to, the Action shall revert to their status&#160;&#160;quo ante.</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">12.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;This Order, the Stipulation, whether or not consummated, any act performed or document executed pursuant to or in furtherance of this Stipulation or the Settlement, and any negotiations, discussions or proceedings in connection with this Stipulation or the Settlement:</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 12pt">&#160;&#160;&#160;</font>&#160;(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shall not be offered or received against any Defendant or Releasee as evidence of or construed as or deemed to be evidence of any presumption, concession, or admission by any Defendant or Releasee of the truth of any fact alleged by Plaintiffs or the validity of any claim that has been or could have been asserted in the Action or any other litigation, or the deficiency of any defense that has been or could have been asserted in the Action or in any other litigation, or of any liability, negligence, fault, or wrongdoing of the Defendants and Releasees;</font></font></font></font></div>

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<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 12pt">&#160;&#160;&#160;</font>&#160;(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shall not be offered or received against any Defendant or Releasee as evidence or construed or deemed to be evidence of a presumption, concession, or admission of any liability, negligence, fault or wrongdoing, or in any way referred to for any other reason as against any of the Parties, in any other civil, criminal or administrative action or proceeding, other than such proceedings as may be necessary to effectuate the provisions of the Stipulation; <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">provided, however</font>, that if the Stipulation is finally approved by the Court, Defendants and the Defendant Releasees may refer to it to effectuate the dismissals, releases, and liability protections granted thereunder;</font></font></font></font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 12pt">&#160;&#160;&#160;</font>&#160;(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; shall not be offered, received, or construed against any Defendant or Defendant Releasee as evidence or construed or deemed to be evidence against Defendants or Plaintiffs as an admission or concession that the consideration to be given hereunder represents the amount which could be or would have been recovered after trial;</font></font></font></font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 12pt">&#160;&#160;&#160;</font>&#160;(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shall not be offered, received, or construed against any Plaintiff or any Bovie stockholders as evidence or construed or deemed to be evidence that the claims asserted in the Action lacked merit or were otherwise incapable of being proved; and</font></font></font></font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB2" style="FONT-FAMILY: Times New Roman; LETTER-SPACING: 9pt; FONT-SIZE: 12pt">&#160;&#160;&#160;</font>&#160;(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;shall not be offered, construed, or received in evidence as an admission, concession, or presumption against any Defendant or Releasee that Plaintiffs, Bovie, or any other Bovie stockholder may properly assert derivative claims against the Individual Defendants.</font></font></font></font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">13.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Court retains jurisdiction to consider all further applications arising out of or connected with the proposed Settlement.</font></div>

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<TYPE>EX-99.2
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<DESCRIPTION>EXHIBIT 99.2 - NOTICE OF PROPOSED SETTLEMENT
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">BRUCE A. ARBIT and MARK WINTERS,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">derivatively on behalf of Bovie Medical Corp.,</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">v.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Case No: 8:11-cv-02020-T-30TBM</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">ANDREW MAKRIDES, J. ROBERT SARON,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">GEORGE W. KROMER, MICHAEL G.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">NORMAN, AUGUST LENTRICCHIA, STEVEN</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">MACLAREN, GREGORY ALAN KONESKY,</font></div>

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<div><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF COMMON STOCK OF BOVIE MEDICAL CORPORATION (&#8220;BOVIE&#8221; OR THE &#8220;COMPANY&#8221;) AS OF JUNE 26, 2014 (&#8220;BOVIE SHAREHOLDERS&#8221;).</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.&#160;&#160;THIS NOTICE RELATES TO A PROPOSED SETTLEMENT AND DISMISSAL OF THE ABOVE-CAPTIONED SHAREHOLDER DERIVATIVE ACTION AND CONTAINS IMPORTANT INFORMATION REGARDING YOUR RIGHTS.&#160;&#160;YOUR RIGHTS MAY BE AFFECTED BY THESE LEGAL PROCEEDINGS.&#160;&#160;IF THE COURT APPROVES THE SETTLEMENT, YOU WILL BE FOREVER BARRED FROM CONTESTING THE APPROVAL OF THE PROPOSED SETTLEMENT AND FROM PURSUING CERTAIN CLAIMS DERIVATIVELY ON BEHALF OF BOVIE.</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">IF YOU HOLD BOVIE COMMON STOCK FOR THE BENEFIT OF ANOTHER, PLEASE IMMEDIATELY TRANSMIT THIS DOCUMENT TO SUCH BENEFICIAL OWNER.</font></div>
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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Notice is hereby provided to you of the proposed settlement (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Settlement</font>&#8221;) of this shareholder derivative litigation (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Notice</font>&#8221;).&#160;&#160;This Notice is provided by Order of the United States District Court for the Middle District of Florida (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Court</font>&#8221;).&#160;&#160;It is not the expression of any finding or opinion by the Court about the truth or falsity of Plaintiffs&#8217; allegations or the legal merits of their claims.&#160;&#160;Rather, the purpose of this Notice is to notify you of the terms of the proposed Settlement, and your rights related thereto.&#160;&#160;The terms of the Settlement are set forth in the Stipulation of Settlement dated June 26, 2014 (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Stipulation</font>&#8221;), which can be obtained at the Company&#8217;s website at www.bovie.com or at Plaintiff&#8217;s counsel&#8217;s website at http://grantfirm.com/, http://www.whafh.com/, or http://www.forthepeople.com/.<font style="FONT-SIZE: 70%; VERTICAL-ALIGN: text-top"><a href="#ref.ID0EWGAC">1</a></font></font></font></font></font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">I.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;WHY THIS NOTICE IS BEING ISSUED</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Your rights may be affected by the settlement of a shareholders&#8217; derivative action captioned <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Arbit, et al. v. Makrides, et al. and Bovie Medical Corp.</font>, Case No. 8:11-cv-02020-T-30TBM (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Action</font>&#8221;).&#160;&#160;Plaintiffs Bruce Arbit (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Arbit</font>&#8221;) and Mark Winters (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Winters</font>&#8221;), together with Arbit, &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Plaintiffs</font>&#8221;), Defendants Andrew M. Makrides (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Makrides</font>&#8221;), J. Robert Saron (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Saron</font>&#8221;), George W. Kromer (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Kromer</font>&#8221;), Michael G. Norman (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Norman</font>&#8221;), August Lentricchia (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Lentricchia</font>&#8221;), Steven Maclaren (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Maclaren</font>&#8221;), Gregory Alan Konesky (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Konesky</font>&#8221;), Moshe Citronowicz (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Citronwicz</font>&#8221;), Peter Pardoll (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Pardoll</font>&#8221;), and Leonard Keen (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Keen</font>&#8221;) (together, the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Individual Defendants</font>&#8221;), and Nominal Defendant Bovie (together with the Individual Defendants, &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Defendants</font>&#8221;) have agreed to settle the Action and have signed a written Stipulation setting forth the terms of the Settlement.&#160;&#160;If approved by the Court, the Settlement will fully resolve the Action, including the dismissal of the Action with prejudice.</font></font></div>

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<div><a name="ref.ID0EWGAC"><!--EFPlaceholder--><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">&#160;</font> </font></font></font></a>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Unless otherwise defined in this Notice, all capitalized terms used herein shall have the same definition set forth in the Stipulation.&#160;&#160;The Stipulation, which you should read in its entirety, provides a complete description of the terms of the Settlement.</font></font></font></font></font></div>
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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">On October 2, 2014, at 1:30 p.m., before the Honorable James S. Moody in Courtroom 17 of the Sam M. Gibbons U.S. Courthouse, 801 N. Florida Avenue, Tampa, Florida&#160;&#160;33602, the Court will hold a hearing (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Settlement Hearing</font>&#8221;) in the Action.&#160;&#160;The purpose of the Settlement Hearing is to determine: (i) whether the terms of the Settlement are fair, reasonable, adequate and should be approved; (ii) whether the Action should be dismissed with prejudice and a final judgment entered; (iii) whether the Released Claims against the Releasees should be finally and fully released; (iv) whether Plaintiffs&#8217; Counsel&#8217;s request for fees and reimbursement of&#160;&#160;their out of pocket expenses in an aggregate sum not to exceed $850,000.00 (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Fee and Expense Award</font>&#8221;) should be approved; (v) whether an Enhancement Award of incentive fee award of up to $2,500.00 each should be paid by Plaintiffs&#8217; Counsel to Arbit and Winters, respectively, from the Fee and Expense Award; and (vi) such other matters as may be necessary or proper under the circumstances.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">II.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;OVERVIEW OF THE ACTION.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">On September 6, 2011, Arbit and Curt Coulter commenced this Action by filing a Verified Shareholder Derivative Complaint against the Individual Defendants and naming the Company as a nominal defendant.&#160;&#160;On March 29, 2012, Plaintiffs filed the operative Amended Verified Shareholder Derivative Complaint (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Amended Complaint</font>&#8221;), alleging that the Individual Defendants breached their fiduciary duties in conducting Bovie&#8217;s business, allegedly subjecting Bovie to various litigations by third parties and causing Bovie to lose opportunities to sell all or part of the Company and exploit revenue-generating prospects for its products.&#160;&#160;&#160;The Amended Complaint asserts claims for breach of fiduciary duty against all Individual Defendants, a claim for breach of contract against Makrides, Saron, and Citronowicz and a claim for injunctive relief requiring the Company&#8217;s Board of Directors to implement certain reforms.&#160;&#160;The&#160;&#160;Amended Complaint further asserted claims arising from the action <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Leonard Keen v. Bovie Medical Corp.</font>, 8:12-cv-00305-SCB-EAJ, which was then pending before this Court in the United States District Court for the Middle District of Florida, Tampa Division (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Keen Action</font>&#8221;).</font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">In late March 2012 and early April 2012, the Parties made extensive disclosures pursuant to Federal Rule of Civil Procedure, 26(f), including the production of certain of the relevant insurance policies.&#160;&#160;On May 21, 2012, the Individual Defendants (other than Keen) and Bovie filed a motion to dismiss the Amended Complaint (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Motion to Dismiss</font>&#8221;), asserting that Plaintiffs had failed to make pre-suit demand on Bovie&#8217;s Board of Directors and had failed to adequately allege that such a demand would have been futile.&#160;&#160;Keen filed an answer to the Amended Complaint on May 21, 2012.&#160;&#160;During the pendency of the Motion to Dismiss, Plaintiffs attempted to proceed with already-served document discovery requests.&#160;&#160;In response to a motion for a protective order by certain of the Defendants, by order dated July 23, 2012, the Court stayed any further discovery pending its ruling on the Motion to Dismiss.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">On September 21, 2012, the Court entered an order denying the Motion to Dismiss on the ground that the Amended Complaint adequately pled that a pre-suit demand upon the Company&#8217;s Board would have been futile and required the moving Individual Defendants and Bovie to file answers. On October 12, 2012, the moving Individual Defendants and Bovie filed their respective answers to the Amended Complaint.&#160;&#160;The moving Individual Defendants&#8217; Answer and Keen&#8217;s Answer each denied the material allegations of the Amended Complaint, denied any wrongdoing, liability, or damages alleged in the Amended Complaint, and asserted defenses.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Subsequent to the filing of the Answers and the expiration of the stay, the Parties engaged in extensive document discovery.&#160;&#160;In the course of such discovery, the Company and the Individual Defendants produced more than 45,000 pages of documents.&#160;&#160;Those documents included, among other things, transcripts of depositions of several of the Individual Defendants and Bovie employees from the litigations described in the Amended Complaint, as well as documents which had been produced in those actions.&#160;&#160;Moreover, Plaintiffs served document and deposition subpoenas on ERBE USA, Inc., Salient Pharmaceuticals, Inc., Medtronic, Inc, Steven Livneh (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Livneh</font>&#8221;), Arik Zoran, James Muehleisen and Rick Pfahl.&#160;&#160;Plaintiffs further noticed the examinations of the Individual Defendants. Additionally, Plaintiffs conducted substantial informal&#160;&#160;discovery, which included interviews with pertinent witnesses, including Livneh, his counsel at the time, and certain large stockholders of Bovie and former Bovie executives, and studied and analyzed Bovie&#8217;s corporate history, its public filings, the trading patterns of the Individual Defendants and their sales and purchases of Bovie shares, and the statements and press releases disseminated by the Company.</font></div>

<div style="TEXT-ALIGN: justify; LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Throughout the litigation of the Action, Plaintiffs&#8217; Counsel and Defendants&#8217; Counsel communicated about the possibility of a settlement.&#160;&#160;Those communications culminated in three full days of mediation before Jed Melnick of JAMS, Inc., a highly-experienced and respected mediator of securities and derivative cases, between September and December 2013.&#160;&#160;After three days of arm&#8217;s length and hard-fought negotiations over a several month period in which Plaintiffs, Defendants, and Defendants&#8217; insurance carriers participated, Plaintiffs and Defendants reached an agreement in principle to resolve the Action on the terms presented in the Stipulation.&#160;&#160;Thereafter, Plaintiffs, Defendants, and Defendants&#8217; insurance carriers, with the assistance of Mr. Melnick, separately negotiated the Fee and Expense Award.&#160;&#160;In light of the substantial benefits conferred upon the Company by the Settlement, Plaintiffs, Defendants, and Defendants&#8217; insurance carriers agreed to a Fee and Expense Award, to be determined by the Court, in an amount not to exceed $850,000.00.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">III.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;TERMS OF THE PROPOSED SETTLEMENT</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">The principal terms of the Settlement, which are subject to approval by the Court, are summarized below.&#160;&#160;This summary should be read in conjunction with, and is qualified in its entirety by reference to, the Stipulation, which has been filed with the Court and is available for public inspection, or can be obtained at the Company&#8217;s website at <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">www.boviemedical.com</font>, and Plaintiffs&#8217; Counsels&#8217; websites at http://grantfirm.com/, http://www.whafh.com/, or http://www.forthepeople.com/.&#160;&#160;To fully, finally, and forever resolve the Action, and following extensive, arm&#8217;s length settlement negotiations, Plaintiffs and Defendants have agreed as follows:</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Corporate Governance Measures</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">In connection with the Settlement of the Action, Bovie has acknowledged that the filing and prosecution of the Action were material factors in the following corporate decisions and actions, which Bovie has agreed conferred substantial benefits upon the Company and its shareholders:</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company&#8217;s decision, in March 2012, to reduce the size of its Board from nine to seven, thereby increasing the influence of its independent directors.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company&#8217;s decision in 2013 to seek new financing to advance the commercialization of its J-Plasma product.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company&#8217;s decision, in November 2013, to settle the action entitled <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Livneh, et al. v. Bovie Medical Corp., et al.</font>, Case No. 8:12-1492-VAC-TBM (the &#8220;Livneh Litigation&#8221;), filed in the United States District Court for the Middle District of Florida, which litigation, if unresolved, would have exposed the Company to significant litigation costs and to a potentially significant judgment.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The Company&#8217;s decision, through the mediation and Settlement of the Action, to settle various related disputes between it and Illinois National Insurance Company and National Union Fire Insurance Company of Pittsburgh, P.A. concerning insurance coverage available in this Action and in a separate litigation styled <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Keen v. Bovie Medical Corp.</font>, Case No. 8:12-cv-00305-SCB-EAJ, which disputes, if unresolved, would have exposed the Company to significant litigation costs.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">In addition, and also in connection with the Settlement of the Action, the Company has agreed that its Board of Directors will, within 90 days of the Effective Date, institute and implement, for a period of four years, the following corporate governance enhancements:</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Creation of Lead Independent Director.</font>&#160;&#160;The Board will create a position of Lead Independent Director that will: (a) coordinate the activities of independent directors, coordinate with the CEO and corporate secretary to set agendas for board meetings, and chair executive sessions of independent directors and (b) meet with the Compensation Committee to discuss CEO performance.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Extension of CEO Evaluation Process.</font>&#160;&#160;The Company&#8217;s Board of Directors will extend the current CEO evaluation process described in the Company&#8217;s Corporate Governance Guidelines to the Chairman, President COO, or any person performing like functions.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Evaluation of Code of Business Conduct and Ethics.</font>&#160;&#160;The Corporate Governance and Nominating Committee will, on an annual basis, consider whether amendments to the Code of Business Conduct and Ethics are required and discuss those changes.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(4)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Codification of Certain Practices.</font>&#160;&#160;The Company will codify (to the extent not already implemented and codified) the following practices in its Corporate Governance Guidelines, Audit Committee Charter, and Compensation Committee Charter, as appropriate:</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Provision for no fewer than four regular meetings per year of the Board of Directors with an agenda to be disseminated prior to the meeting and minutes which are kept and circulated at the following meeting.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Prohibition on the hiring of any relative of any member of management, or the retention of any such person, or the renewal of any contract of any such person without formal consideration and formal approval by the Audit Committee, which consideration shall include whether the terms of such hiring, retention, or renewal is fair and reasonable to the Company.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Prohibition on the appointment of any relative of any member of management or the Board, or any consultant to the Company, or any person with a material contract or agreement with the Company to the Board without consideration and formal approval by the Audit Committee, which consideration shall include whether the terms of such hiring, retention, or renewal is fair and reasonable to the Company.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Provision for annual circulation of Code of Business Conduct and Ethics and certification by managers, officers, and directors.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Provision for Compensation Committee compensation advisors to be independent of company and executive officers and directors.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Provision for Audit Committee minutes to be maintained and circulated to the Board of Directors.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Provision for Audit Committee to maintain oversight of any criminal or regulatory enforcement inquiry, investigation, or proceeding involving the Company, an executive officer, or a director, such oversight to include consideration of each such matter at each regular meeting of the Audit Committee and the making or recommendations to the Board, after consultation with counsel, if necessary.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Provision for Audit Committee to maintain oversight of any litigation to which the Company is a plaintiff or defendant, with such oversight to include consideration of each such matter at a regular meeting of the Audit Committee and the making of recommendations to the Board, after consultation with counsel, if necessary.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Provision for Audit Committee to maintain oversight of any material litigation to which an executive officer or director of the Company is made a defendant by reason of being an executive officer or director of the Company, with such oversight to include consideration of each such matter at each regular meeting of the Audit Committee, whether it is appropriate for the company to provide advancement or indemnification to each such officer or director, and the proposal of recommendations to the Board, after consultation with counsel.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 72pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Provision authorizing Audit Committee, with respect to each inquiry, investigation, or litigation matter over which the Audit Committee is required to exercise oversight responsibilities and without further action by the Board, to commence an internal investigation and, in that connection, to employ at the Company&#8217;s expense such legal and other advisors as the Audit Committee deems appropriate.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">(5)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Limitation on Return of Options.</font>&#160;&#160;The Company will not return to Moshe Citronowicz the 75,000 vested and unvested options that were cancelled on or about November 29, 2011.&#160;&#160;The Board and Compensation Committee retain full discretion to compensate Citronowicz for performance or incentive purposes in any manner consistent with their fiduciary duties; provided, however, that any additional compensation will be based on his activities and performance subsequent to the cancellation of those options and will be recorded in the minutes.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Dismissal and Release of Claims.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">The full terms of the dismissal and release of claims are set forth in the Stipulation.&#160;&#160;The following is only a summary.&#160;&#160;</font>The Stipulation provides for the entry of judgment dismissing the Action against Bovie and the Individual Defendants with prejudice and, as explained fully in the Stipulation, barring and releasing any Released Claims (including Unknown Claims) that have been or could have been brought in any court by the Plaintiffs individually or derivatively on behalf of Bovie, by Bovie, and by any Bovie shareholders derivatively on behalf of Bovie against Bovie or any of the Individual Defendants that arise out of, are based upon, involve, or are in any way related to any circumstance, event, fact, occurrence, or transaction alleged or described in the original complaint, the Amended Complaint, or otherwise by Plaintiffs in the Action.&#160;&#160;The Stipulation further provides that the entry of the judgment will bar and release any claims by Defendants against Plaintiffs and Plaintiffs&#8217; Counsel based upon the initiation, prosecution, or settlement of the Action.</font></font></font></font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">C.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Plaintiffs&#8217; Attorneys&#8217; Fees and Expenses and Plaintiffs&#8217; Enhancements.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">After negotiating the substance of the Settlement, and through arm&#8217;s length negotiations at mediation, the Parties negotiated the attorneys&#8217; fees and expenses of Plaintiffs&#8217; Counsel in the Action.&#160;&#160;As a result of these negotiations, Plaintiffs&#8217; Counsel will apply to the Court for a fee and the reimbursement of their out of pocket expenses, the Fee and Expense Award, in an amount not to exceed $850,000.00, which Defendants will not oppose.&#160;&#160;The Parties have further agreed, subject to Court approval, that each of Plaintiffs Arbit and Winters may apply for an Enhancement Award not to exceed $2,500.00 each to be paid exclusively from any Fee and Expense Award approved by the Court and not separately by the Defendants or their insurance carriers.&#160;&#160;In the event that the Court does not award all or a portion of the Enhancement Award, such remainder will be paid to Plaintiffs&#8217; counsel.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">IV.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;REASONS FOR THE SETTLEMENT</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">A.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Why Did Plaintiffs Agree To Settle?</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Counsel for the Parties believe that the Settlement is in the best interests of Bovie and its shareholders.&#160;&#160;Plaintiffs&#8217; Counsel conducted an extensive investigation relating to the claims and the underlying events and transactions alleged in the Action.&#160;&#160;Plaintiffs&#8217; Counsel have analyzed tens of thousands of pages of documents, interviewed potential witnesses, and researched and considered the applicable law with respect to the claims and defenses asserted.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Based upon the investigation and analysis described above, Plaintiffs and their counsel have concluded that the terms and conditions of the Stipulation are fair, reasonable, and adequate to Plaintiffs, Bovie, and its shareholders, and in their best interests, and have agreed to settle the claims raised in the Action pursuant to the terms and provisions of the Stipulation after considering, among other things: (i) the substantial benefits that Bovie and Bovie&#8217;s shareholders have received or will receive from the Settlement; (ii) the attendant risks of continued litigation of the Action, particularly given Defendants&#8217; limited insurance coverage and the complex insurance issues involved in this and the related actions; and (iii) the desirability of permitting the Settlement to be consummated.</font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Given the limited insurance coverage, and the financial wherewithal of the Individual Defendants to withstand a significant judgment, Plaintiffs believed that further litigation would not likely succeed in producing a more significant recovery, and could result in little or no recovery.&#160;&#160;Plaintiffs and their counsel therefore believed that, under the circumstances, they have obtained the best possible relief for Bovie and its stockholders.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">B.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Why Did Defendants Agree To Settle?</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Defendants have denied and continue to deny each and every allegation of wrongdoing or liability made against them or that could have been made against them in the Action.&#160;&#160;Defendants assert that, at all times, they acted in good faith and in a manner they reasonably believed to be in the best interests of Bovie and its shareholders.&#160;&#160;Their agreement to the Settlement is not an admission or concession to the contrary.&#160;&#160;Rather, the Defendants have acknowledged that any litigation, especially complex securities and derivative litigation, involves burden, distraction, expense, inconvenience, and risk and have entered into the Settlement to avoid those outcomes without admitting or conceding any wrongdoing or liability whatsoever.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">V.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;FINAL COURT HEARING REGARDING SETTLEMENT</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">On October 2, 2014 at 1:30 p.m., the Court will hold the Settlement Hearing before the Honorable James S. Moody in Courtroom 17 of the Sam M. Gibbons U.S. Courthouse, 801 N. Florida Avenue, Tampa, Florida&#160;&#160;33602.&#160;&#160;At the Settlement Hearing, the Court will consider:&#160;&#160;(i) whether the terms of the Settlement are fair, reasonable, adequate and should be approved; (ii) whether the Action should be dismissed with prejudice and a final judgment entered; (iii) whether the Released Claims against the Releasees should be finally and fully released; (iv) whether Plaintiffs&#8217; Counsel&#8217;s request for fees and reimbursement of&#160;&#160;their out of pocket expenses in an aggregate sum not to exceed $850,000.00 (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Fee and Expense Award</font>&#8221;) should be approved; (v) whether an Enhancement Award of incentive fee award of up to $2,500.00 each should be paid by Plaintiffs&#8217; Counsel to Arbit and Winters, respectively, from the Fee and Expense Award; and (vi) such other matters as may be necessary or proper under the circumstances.</font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">VI.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;YOUR RIGHT TO ATTEND THE SETTLEMENT HEARING</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Any Bovie Shareholder may, but is not required to, appear in person at the Settlement Hearing.&#160;&#160;<font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">BOVIE SHAREHOLDERS WHO HAVE NO OBJECTION TO THE SETTLEMENT DO NOT NEED TO APPEAR AT THE SETTLEMENT HEARING OR TAKE ANY OTHER ACTION.</font>&#160;&#160;If you are a Bovie Shareholder, as defined above, and&#160;&#160;have an objection to the terms of the Settlement, the Fee and Expense Award or the Incentive Award, and/or would like to be heard at the Settlement Hearing, then you must comply with the below procedures for filing an objection.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">The Court has the right to change the Settlement Hearing date or time without further notice.&#160;&#160;Thus, if you are planning to attend the Settlement Hearing, you should confirm the date and time before going to the Court.</font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Any Bovie Shareholder who objects to the Settlement, the application for the Fee and Expense Award, or the Incentive Fee Award, or who otherwise wishes to be heard, may appear in person or through his, her, or its attorney at the Settlement Hearing and present any evidence or argument that may be proper and relevant&#894; <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">provided, however</font>, that no such person shall be heard, and no papers, briefs, pleadings, or other documents submitted by any such person shall be received and considered by the Court unless, no later than ten (10) calendar days prior to the Settlement Hearing, such person files with the Court the following documents: (1) a written and signed notice of intention to appear that states the name, address and telephone number of the objector and, if represented, his, her or its counsel&#894; (2) proof that the objector was either record holder or beneficial owner of shares of Bovie stock as of the date of June 26, 2014 and continues to hold such shares&#894; and (3) a written detailed statement of the person&#8217;s objections to any matter before the Court, including the specific grounds therefor or the reasons why such person desires to appear and be heard, as well as all documents and writings which such person desires the Court to consider, including any legal and evidentiary support.</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">YOUR WRITTEN OBJECTIONS MUST BE ON FILE WITH THE CLERK OF THE COURT NO LATER THAN SEPTEMBER 22, 2014.</font>&#160;&#160;The Clerk&#8217;s address is:</font></font></font></font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">YOU MUST ALSO DELIVER COPIES OF THE MATERIALS TO PLAINTIFFS&#8217; COUNSEL AND DEFENDANTS&#8217; COUNSEL SO THAT THEY ARE RECEIVED NO LATER THAN SEPTEMBER 22, 2014</font>.&#160;</font>&#160;Counsel&#8217;s addresses are:</font></font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Lynda J. Grant</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">TheGrantLawFirm, PLLC</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">521 Fifth Avenue, 17th Floor</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">New York, New York&#160;&#160;10175</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Samuel J. Salario, Jr.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Carlton Fields Jorden Burt, P.A.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">4221 W. Boy Scout Boulevard, Suite 1000</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Tampa, Florida&#160;&#160;33607</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">and</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Chris Ballentine</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Fisher, Rushmer, Werrenrath, Dickson, Talley &amp; Dunlap, P.A.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">390 North Orange Avenue, Suite 2200</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 108pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Orlando, Florida&#160;&#160;32801</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Unless the Court otherwise directs, any person who fails to object in the manner prescribed above shall be deemed to have waived his, her, or its right to object and shall be forever barred from raising any objection to the Settlement, the application for Fees and Expenses, the Incentive Fee Award, or any other matter related to the Settlement.</font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">VII.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;HOW TO OBTAIN ADDITIONAL INFORMATION</font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">This Notice summarizes the Stipulation.&#160;&#160;It is not a complete statement of the events which occurred during the court of the Action or the provision of the Stipulation.&#160;&#160;You may inspect the Stipulation and other papers filed in the Action at the office of the Clerk of the Court at any time during regular business hours each day.&#160;&#160;The Clerk&#8217;s office is located at the Sam M. Gibbons U.S. Courthouse, 801 N. Florida Avenue, Tampa, Florida&#160;&#160;33602.&#160;&#160;The Clerk&#8217;s office will not mail these documents to you.&#160;&#160;You may also contact a representative of Plaintiffs&#8217; Counsel: Lynda Grant, TheGrantLawFirm, PLLC, 521 Fifth Avenue, 17<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">th</font> Floor, New York, New York&#160;&#160;10175, Telephone: 212-292-4441; Robert Abrams, Wolf Haldenstein Adler Freeman &amp; Herz, LLP, 270 Madison Avenue, New York, New York&#160;&#160;10016, Telephone: 212-545-4602; for information about the Settlement.&#160;&#160;Finally, a copy of the Stipulation and its exhibits can be obtained at the Company&#8217;s website at www.boviemedical.com or at Plaintiffs&#8217; Counsels&#8217; website at http://grantfirm.com/, http://www.whafh.com/, or http://www.forthepeople.com/.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">PLEASE DO NOT CALL, WRITE, OR OTHERWISE DIRECT QUESTIONS ABOUT THIS NOTICE, THE SETTLEMENT, OR THE ACTION TO EITHER THE COURT OR THE CLERK&#8217;S OFFICE.</font>&#160;&#160;Any questions you have about matters in this Notice should be directed by telephone or in writing to Plaintiffs&#8217; Counsel, at the address or telephone numbers set forth above.</font></font></font></font></font></div>

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<TYPE>EX-99.3
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<DESCRIPTION>EXHIBIT 99.3 SUMMARY NOTICE OF PROPOSED SETTLEMENT
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">IN THE UNITED STATES DISTRICT COURT</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">BRUCE A. ARBIT and MARK WINTERS,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">derivatively on behalf of Bovie Medical Corp.,</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">v.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Case No: 8:11-cv-02020-T-30TBM</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">ANDREW MAKRIDES, J. ROBERT SARON,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">GEORGE W. KROMER, MICHAEL G.</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">NORMAN, AUGUST LENTRICCHIA, STEVEN</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">MACLAREN, GREGORY ALAN KONESKY,</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">MOSHE CITRONOWICZ, PETER PARDOLL,</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">BOVIE MEDICAL CORP.,</font></div>

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<div style="TEXT-INDENT: 0pt; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">TO:</font></div>
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<div align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">ALL RECORD HOLDERS AND BENEFICIAL OWNERS OF COMMON STOCK OF BOVIE MEDICAL CORPORATION (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">BOVIE</font>&#8221; OR THE &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">COMPANY</font>&#8221;) AS OF JUNE 26, 2014 (&#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">BOVIE SHAREHOLDERS</font>&#8221;).</font></div>
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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">YOU ARE HEREBY NOTIFIED that the Parties to the shareholders derivative action styled <font style="FONT-STYLE: italic; DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Arbit v. Makrides</font>, Case No. 8:11-cv-02020-T-30TBM (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Action</font>&#8221;), pending in the United States District Court for the Middle District of Florida (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Court</font>&#8221;), have entered into a Stipulation and Agreement of Settlement (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Stipulation</font>&#8221;) to resolve the claims raised by the Action.&#160;&#160;This Summary Notice should be read in conjunction with, and is qualified in its entirety by reference to, the text of the Stipulation, which is available on the websites of Plaintiffs&#8217; Counsel at http://grantfirm.com/, http://www.whafh.com/, or <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">http://www.forthepeople.com/</font>, and Bovie&#8217;s website at <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">http://www.boviemedical.com/</font>.&#160;&#160;All capitalized terms not otherwise defined herein have the same meaning stated in the Stipulation.</font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">PLEASE BE FURTHER ADVISED that, </font>on October 2, 2014, at 1:30 p.m., before the Honorable James S. Moody in Courtroom 17 of the Sam M. Gibbons U.S. Courthouse, 801 N. Florida Avenue, Tampa, Florida&#160;&#160;33602, the Court will hold a hearing (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Settlement Hearing</font>&#8221;).&#160;&#160;The purpose of the Settlement Hearing is to determine: (i) whether the terms of the Settlement are fair, reasonable, adequate and should be approved; (ii) whether the Action should be dismissed with prejudice and a final judgment entered; (iii) whether the Released Claims against the Releasees should be finally and fully released; (iv) whether Plaintiffs&#8217; Counsel&#8217;s request for fees and reimbursement of&#160;&#160;their out of pocket expenses in an aggregate sum not to exceed $850,000.00 (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Fee and Expense Award</font>&#8221;) should be approved; (v) whether an Enhancement Award of incentive fee award of up to $2,500.00 each should be paid by Plaintiffs&#8217; Counsel to the named plaintiffs, Bruce A. Arbit and Mark Winters, respectively, from the Fee and Expense Amount; and (vi) such other matters as may be necessary or proper under the circumstances.</font></font></div>

<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt"><font id="TAB1" style="FONT-FAMILY: Times New Roman; MARGIN-LEFT: 36pt; FONT-SIZE: 12pt"></font><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">The Action was brought derivatively on behalf of Bovie against certain current and former officers and directors and asserted claims for breach of fiduciary duty, breach of contract, and injunctive relief.&#160;&#160;The Settlement of the Action is subject to Court approval and provides, in part, for the implementation of certain corporate governance measures and for releases of the Released Claims against the Releasees.&#160;&#160;If you are a Bovie Shareholder, your rights to pursue derivative claims on behalf of Bovie will be affected by this Settlement.&#160;&#160;A detailed notice concerning the Settlement (the &#8220;<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">Notice</font>&#8221;) has been filed with the U.S. Securities and Exchange Commission and is posted on the websites of Plaintiffs&#8217; Counsel and the Company listed above.</font></font></div>

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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Any Bovie Shareholder who objects to the Settlement, Plaintiffs&#8217; Counsel&#8217;s&#160;&#160;application for the Fee and Expense Award, or the Incentive Fee Award, or who otherwise wishes to be heard, may appear in person or through his, her, or its attorney at the Settlement Hearing and present any evidence or argument that may be proper and relevant&#894; <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; TEXT-DECORATION: underline">provided, however</font>, that no such person shall be heard, and no papers, briefs, pleadings, or other documents submitted by any such person shall be received and considered by the Court unless, no later than ten (10) calendar days prior to the Settlement Hearing, such person files with the Court the following documents: (1) a written and signed notice of intention to appear that states the name, address and telephone number of the objector and, if represented, his, her or its counsel&#894; (2) proof that the objector was either record holder or beneficial owner of shares of Bovie stock as of the date of June 26, 2014 and continues to hold such shares&#894; and (3) a written detailed statement of the person&#8217;s objections to any matter before the Court, including the specific grounds therefor or the reasons why such person desires to appear and be heard, as well as all documents and writings which such person desires the Court to consider, including any legal and evidentiary support.&#160;&#160;In addition to being filed with the Court, such objections must simultaneously be served on counsel for the Parties in the Action so that they are received no later than ten (10) calendar days prior to the Settlement Hearing.</font></div>

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<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">Sam M. Gibbons U.S. Courthouse</font></div>

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<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">Counsel for Plaintiffs:</font></div>

<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">Lynda J. Grant</font></div>

<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">The Grant Law Firm, PLLC</font></div>

<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">521 Fifth Avenue, 17th Floor</font></div>

<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">New York, New York&#160;&#160;10175</font></div>

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<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">4221 W. Boy Scout Boulevard, Suite 1000</font></div>

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<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">Fisher, Rushmer, Werrenrath, Dickson, Talley &amp; Dunlap, P.A.</font></div>

<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">390 North Orange Avenue, Suite 2200</font></div>

<div style="LINE-HEIGHT: 1; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 12pt">Orlando, Florida&#160;&#160;32801</font></div>
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<div style="LINE-HEIGHT: 2.25; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt">Unless the Court otherwise directs, any person who fails to object in the manner prescribed above shall be deemed to have waived his, her, or its right to object and shall be forever barred from raising any objection to the Settlement, the application for Fees and Expenses, the Incentive Fee Award, or any other matter related to the Settlement.</font></div>

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<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">PLEASE DO NOT TELEPHONE THE COURT</font></div>

<div style="TEXT-ALIGN: center"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">OR BOVIE REGARDING THIS NOTICE</font></div>

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