Company: KAVL
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001731122-25-001359
Chunk: 23

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 23
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”).
The Code of Ethics was adopted to enhance and clarify our personnel’s understanding of our standards of ethical business practices,
promote awareness of ethical issues that may be encountered in carrying out an employee’s or director’s responsibilities,
and sets forth how to address ethical issues that may arise. A copy of the Code of Ethics is available on our corporate website at https://ir.kaivalbrands.com/governance/governance-documents/default.aspx.

Directors and Executive Officers Qualifications

Although we have not formally established any specific
minimum qualifications that must be met by each of our officers, we generally evaluate the following qualities: educational background,
diversity of professional experience, including whether the person is a current or was a former chief executive officer or chief financial
officer of a public company or the head of a division of a prominent international organization, knowledge of our business, integrity,
professional reputation, independence, wisdom, and ability to represent the best interests of our stockholders.

The Governance and Nominating Committee of the Board
prepares policies regarding director qualification requirements and the process for identifying and evaluating director candidates for
adoption by our Board. The above-mentioned attributes, along with the leadership skills and other experiences of our officers and Board
members described above, provide us with a diverse range of perspectives and judgment necessary to facilitate our goals of stockholder
value appreciation through organic and acquisition growth.

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Director Independence

Under Nasdaq standards, a director is not “independent”
unless the Board affirmatively determines that he or she does not have a direct or indirect material relationship with us or any of our
subsidiaries. In addition, the director must meet the bright-line tests for independence set forth by the Nasdaq rules. Our Board has
undertaken a review of its composition, the composition of its committees and the independence of our directors and considered whether
any director has a material relationship with us that could compromise his ability to exercise independent judgment in carrying out his
responsibilities. Based on these standards, the Board has determined that Messrs. Worner, Modi and Patel are “independent”
directors within the meaning of listing rules of Nasdaq.

All the members of the Audit Committee, Compensation
Committee and Governance and Nominating Committee were also independent during our fiscal year ended October 31, 2024. In making determinations
regarding director independence, our Board considered the relationships that each non-employee director has with us and all other facts