Company: KAVL
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001731122-25-001359
Chunk: 32

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 32
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  |     |                                                  | 1,786 |     |                                                        | 29,572 |
| Mark Thoenes |     |                                                  | 2,500 |     |                                                        |  9,100 |

Potential Payments Upon Termination or Change-of-Control

Other than the stock options mentioned above in “Outstanding
Equity Awards at Fiscal Year-End,” none of our named executive officers are entitled to any payments upon termination or change-of-control.

Retirement or Similar Benefit Plans

There are no arrangements or plans in which we provide
retirement or similar benefits for our named executive officers.

<div align='center'>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS</div>

Since the beginning of our 2023
fiscal year, we have entered into or participated in the following transactions with Since the beginning of our fiscal year, we have entered
into or participated in the following transactions with related persons:

<div align='center'>19</div>

Revenue

During the year ended October 31, 2024, the Company
recognized revenue of $5,950 from three companies owned by Nirajkumar Patel, former Chief Executive Officer and director of the Company
and/or his wife.

Purchases and Accounts Payable

During the year ended October 31, 2024, 100% of the
inventories of products, consisting solely of the BIDI® Stick, were purchased from Bidi, a related party controlled by Nirajkumar
Patel and/or his wife , in the amount of $0.3 million.

The KBI License Agreement provides that KBI shall
pay Bidi license fees equivalent to 50% of the adjusted earned royalty payments, after any offsets due to jointly agreed costs such development
costs incurred for entry to specific international markets. During the year ended October 31, 2024, the Company paid license fees of approximately
$220,000 to Bidi. As of October 31, 2024, the Company had accounts payable to Bidi of $131,683 for license fees.

Leased Office Space and Storage Space

We capitalize all leased assets pursuant to ASU 2016-02,
Leases (Topic 842) (“Topic 842”), which requires lessees to recognize right-of-use (“ROU”) assets and lease liability,
initially measured at present value of the lease payments, on its balance sheet for leases with terms longer than 12 months and classified
as either financing or operating leases