Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 833

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 7
Chunk 833
---
 the payment of health insurance premiums by the Company for Mr. Lai and Mr. Folkes.

    (4)
    Mr.
    Folkes was appointed to serve as the Company’s Chief Financial Officer on April 14, 2021 and resigned as of February 29, 2024.

    (5)
    Mr.
    Meyer was appointed to serve as the Company’s Chief Operating Officer on September 10, 2021 and his poition was terminated
    on January 31, 2025.

    (6)
    Mr.
    Lowenthal was appointed to serve as the Company’s Chief Financial Officer on March 8, 2024.

    (7)
    Mr. Lowenthal received a $10,000 signing bonus with his employment contract.

Narrative
Disclosure to the Summary Compensation Table

The
following is a discussion of certain terms that we believe are necessary to understand the information disclosed in the Summary Compensation
Table.

Base
Salaries

The
Company’s Named Executive Officers receive a base salary for services rendered to the Company, which is set forth in their respective
employment agreements. The base salary payable to each Named Executive Officer is intended to provide a fixed component of compensation
reflecting the executive’s skill set, experience, role, and responsibilities. From April 1, 2020, through September 8, 2021, Mr.
Lai received a base salary of $100,000 which was increased to $275,000, effective as of September 1, 2022 and increased to $350,000 as
of November 1, 2022. On May 1, 2025, Mr. Lai agreed to lower his annual base salary to $150,000 per year.

Mr.
Lowenthal joined the Company on March 8, 2024, and his base salary was $200,000 per year, and remains at this level as of March 31, 2025.

38

Mr.
Folkes joined the Company on April 14, 2021, and his initial salary was $190,000 per year, which was increased to $240,000 per year effective
as of September 1, 2022 and increased to $300,000 as of November 1, 2022. Mr. Folkes resigned on February 29, 2024.

Mr.
Meyer joined the Company, as its Chief Operating Officer, on September 1, 2021 and his base salary is $