Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 6

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 1
Chunk 6
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 that are designated by Delta prior to Closing. The chief
executive officer and chief financial officer of Pubco upon Closing shall be the same individuals serving in those capacities at Delta
prior to Closing.

Termination

The Merger Agreement may be terminated time prior
to the Closing, including, among others, (i) by the mutual written consent of the Company and Delta, (ii) by written notice by the Company
or Delta to the other if any of the conditions to the Closing have not been satisfied or waived by February 15, 2025; (iii) by written
notice by either the Company or Delta to the other if a Legal Restraint has become final and non-appealable; (iv) by written notice by
Delta to the Company if there has been a breach by the Company of any of its representations, warranties, covenants or agreements contained
in the Merger Agreement, or if any representation or warranty of the Company becomes untrue or inaccurate, such that the related condition
to Closing will not be satisfied; (v) by written notice by the Company to Delta if there has been a breach by Delta of any of its representations,
warranties, covenants or agreements contained in the Merger Agreement, or if any representation or warranty of Delta becomes untrue or
inaccurate such that the related condition to Closing will not be satisfied; (vi) by written notice by us to Delta, if there shall have
been a Material Adverse Effect on the Delta or Pubco following the date of the Merger Agreement which is uncured and continuing; (vii)
by written notice by Delta to us, if there shall have been a Material Adverse Effect on us following the date of the Merger Agreement
which is uncured and continuing; (viii) by written notice by either the Company or Delta to the other if a special stockholder meeting
is held for the purpose of approving the Merger Agreement and Transactions and such approval is not obtained at such meeting; (ix) by
written notice by us to Delta or Delta to us, if we accept a takeover proposal or our board of directors changes its recommendation with
respect to the Merger Agreement and Transactions, in either case, pursuant to its fiduciary out rights as set forth in the Merger Agreement;
or (x) by written notice by Delta to us, if we have not delivered to Delta and Pubco duly executed copies of Voting Agreements by us and
the holders of our securities