Company: KAVL
Filing Date: 2025-08-04
Form Type: S-3/A
Source: 0001731122-25-001067
Chunk: 59

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-08-04
Form: S-3/A
Chunk 59
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 to be in or not opposed to the best
interests of the Company, and, in any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful, except
that, in the case of actions brought by or in the right of the Company, no indemnification shall be made with respect to any claim, issue
or matter as to which such person shall have been adjudged to be liable to the Company unless and only to the extent that the Court of
Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of
the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court
shall deem proper.

Our charter and bylaws provide for the indemnification,
to the fullest extent permitted from time to time by the DGCL or any other applicable laws as presently or hereafter in effect, any person
who was or is made a party or is threatened to be made a party or is otherwise involved in any action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that he or she, or a person for whom he or she is the legal representative,
is or was a director or officer of the Company or, while a director or officer of the Company, is or was serving at the request of the
Company as a director, officer, employee or agent of another corporation or of a partnership, joint venture, trust, enterprise or nonprofit
entity, including service with respect to employee benefit plans, against all liability and loss suffered and reasonably incurred by such
person.

Our bylaws provide that if an indemnification claim
made by an officer or director of the Company is not paid in full by the Company within thirty (30) days after a written claim has been
received by the Company, the claimant may at any time thereafter bring suit against the Company to recover the unpaid amount of the claim
and, if successful in whole or in part, the claimant shall also be entitled to be paid the expense of prosecuting such claim. It shall
be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending any proceeding in
advance of its final disposition where any required undertaking has been tendered to the Company) that the claimant has not met the standards
of conduct which make it permissible under the DGCL for the Company to indemnify the claimant for the