Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 1020

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 9B
Chunk 1020
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 December 21, 2023, we and Mr. Mosser entered into an amendment to Mr. Mosser’s employment agreement
with our company, dated August 1, 2023. Pursuant to such amendment, effective December 21, 2023, Mr. Mosser resigned as Chief Executive
Officer and President of our company and became a Senior Advisor to our company and the Chief Executive Officer of KBI. Mr. Mosser  
reported to Barry M. Hopkins, our Executive Chairman, until such time as a new Chief Executive Officer and
President would be appointed. At such time, Mr. Mosser reported to our Chief Executive Officer as a Senior Advisor. Pursuant to the Amendment,
Mr. Mosser’s base salary was   $251,000 per annum,
effective as of January 1, 2024.

On
December 21, 2023,   the Board appointed Eric
Mosser, a current Senior Advisor to the Company and the Chief Executive Officer of Kaival International Brands, LLC, a wholly
owned subsidiary of the Company, as the Company’s President and Interim Chief Executive Officer, to serve in such capacity
until a successor is duly appointed and approved by the Board.

On December 22, 2023, our board of directors appointed Mr. Hopkins as Interim
Chief Executive Officer and President of our company, to serve in such capacity until a successor is duly appointed and approved by our
board.

On January 25, 2024, James P. Cassidy
provided written notice to the board of directors of his resignation from the Board, effective immediately

On February 20, 2024, Thomas Metzler,
the Chief Financial Officer, Secretary and Treasurer of the Company, provided written notice to the Company’s Board of his resignation,
effectively immediately.

On February 22, 2024, Barry M.
Hopkins, the Interim Chief Executive Officer, President, and Director of the Company, provided written notice to the Company’s Board
of Directors (the “Board”) of his resignation, effectively immediately. 

On February 22, 2024, Stephen Sheriff,
the Chief Operating Officer of the Company, provided written notice to the Company’s Board of his resignation, effectively immediately.

On February 22, 2024, Roger Brooks,
a Director of the Company, provided written notice to the Company’s Board of his resignation effectively immediately.

48

On February 26, 2024,