Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1184

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 9A
Chunk 1184
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 shares.

ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE

The
following is a summary of the transactions since April 1, 2020 between the Company and its executive officers, directors, nominees for
directors, principal shareholders, and related parties involving amounts in excess of $120,000 or that the Company has chosen to voluntarily
disclose.

David
Masters

Note
and Settlement Agreement

Effective
September 1, 2020, the Company entered into two debt settlement agreements with David B. Masters, a director of the Company, pursuant
to (i) an Amendment to Promissory Note (“Amendment”) which amended certain outstanding promissory notes dated September 5,
2013, February 11, 2014, and August 14, 2014 (collectively, the “Outstanding Notes”) issued by Gel-Del, the Company’s
wholly-owned subsidiary, with an aggregate amount owed of $65,700 and (ii) a Promissory Note (“Note”) having a principal
amount of $195,000, which represents accrued salary owed to Dr. Masters. The Amendment extends, for up to an additional two years and
under the same terms as originally entered into, the Outstanding Notes. The Company also entered into a Settlement and General Release
(“Settlement Agreement”) with Dr. Masters that provides for the settlement and general release of any and all past claims,
demands, damages, judgements, causes of action and liabilities that Dr. Masters may have had, may currently have or may acquire against
the Company and its subsidiaries, including, but not limited to any claims related to (a) the ownership, operation, business, or financial
condition of Company or its business, (b) any promissory note, loan, contract, agreement or other arrangement, whether verbal or written,
including all unpaid interest charges, late fees, penalties or any other charges thereon, entered into or established between Dr. Masters
and his affiliates and the Company on or prior to the September 1, 2020 or (c) the employment of Dr. Masters by the Company (except for
claims directly relating to the breach of the Amendment, the Note or the Consulting Agreement).

Effective
October 15, 2020, we entered into a note conversion agreement with David B. Masters in which he agreed to convert his Promissory Note
having an outstanding principal amount of $192