Company: KAVL
Filing Date: 2025-08-18
Form Type: 424B5
Source: 0001731122-25-001141
Chunk: 41

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-08-18
Form: 424B5
Chunk 41
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 by the parties in order
to clarify certain provisions (all such sub-distribution agreements, as amended and restated, are collectively referred to as the “Sub-Distribution
Agreements”), whereby we appointed the counterparties as non-exclusive sub-distributors. Pursuant to the Sub-Distribution Agreements,
the sub-distributors agreed to purchase for resale products in such quantities as they should need to properly service non-retail customers
within the continental United States (the “Territory”). These agreements were terminated in the current year.

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On October 25, 2024, we entered into a letter agreement
with Bidi, pursuant to which we (i) agreed with Bidi that “Products” as defined in the A&R Distribution Agreement means
and includes (and has always meant and included) only the following items, to the exclusion of all other items and products (including,
without limitation, the Excluded Products): (a) the “Bidi Stick”, which is an electronic nicotine delivery system, or “e-cigarette”,
at 6% nicotine (including all available flavors) in the versions previously sold by Manufacturer to Distributor; and (b) acrylic displays
preloaded with one hundred (100) such “Bidi Sticks;” (ii) waived and fully relinquished: (a) our Right of First Offer, Right
of First Refusal, and all other rights (if any) with respect to all Future Products (whether previously introduced, or introduced hereafter,
by Manufacturer) pursuant to the Distribution Agreement; and (b) all of its rights with respect to a Bona Fide Offer pursuant to Section
4.F of the A&R Distribution Agreement; (iii) released Bidi from all claims arising out of events that occurred prior to the Effective
Date of the A&R Distribution Agreement and (iv) acknowledged the existence of that certain matter styled In the Matter of Certain
Disposable Vaporizer Devices and Components Thereof, Inv. No. 337-TA-1410 before the United States International Trade Commission, and
agreed that neither said matter not any outcome thereof or resolution resulting therefrom that affects Bidi shall constitute a breach
or other default by Bidi under the A&R Distribution Agreement.

A key third party collaborator of ours was QuikfillRx,
a Florida limited liability company which did business as “Kaival Marketing Services” to reflect its contributions to our
company. QuikfillRx provided us with certain