Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 341

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 1B
Chunk 341
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 Pharmacy at Sardar
Patel University in India, he came to USA in 2002 where he attended Master’s in Public Health from the University of Oklahoma. We
believe that Mr. Modi is qualified to serve on our board of directors due to his background in our industry.

47

Eric Morris, Interim Chief
Financial Officer. Mr. Morris has served as our Interim Chief Financial Officer since March 2024. Prior to this position he was our
Controller from April 2023 to March 2024. He has been a licensed Certified Public Accountant since 2006. From Sept 2017 to April 2023,
he worked as a fractional accounting consultant at a privately held company with a diverse group of clients. Prior to his time as a consultant,
from December 2010 to August 2017, he was the Controller at a privately held Parking Meter Company. Mr. Morris received a bachelor’s
degree in accounting from Linfield University in 2000. We believe that Mr. Morris is qualified to serve as our Interim Chief Financial
Officer because of his prior and current management experience, as well as his business experience 

Changes to Management and Board of Directors in
the year ended October 31, 2024

On December 21, 2023, Eric Mosser,
the Company’s then Chief Executive Officer and President of our company, provided written notice to our board of directors of his
resignation as a member of the board, effective immediately. Mr. Mosser’s resignation is not due to any disagreements between him
and our company or our board of directors.

In
connection with his resignation, on 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,