Kaival Brands Innovations, a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol KAVL, has reported significant executive agreements in a recent Form 8-K filing with the SEC. The company announced a consulting agreement with Mark Thoenes, who is serving as the Interim Chief Executive Officer. The agreement, effective from November 1, 2024, includes a monthly professional fee of $25,000 and a grant of 100,000 shares of common stock under the company's 2020 Stock and Incentive Compensation Plan. This agreement is set to terminate on January 31, 2025, with provisions for extension by mutual consent or termination by the company with a prorated compensation clause. Additionally, on October 29, 2024, Kaival Brands entered into an employment agreement with Eric Morris, the Interim Chief Financial Officer...Show More

Kaival Brands Innovations, a Delaware-incorporated company listed on the Nasdaq Stock Market under the symbol KAVL, has reported significant executive agreements in a recent Form 8-K filing with the SEC. The company announced a consulting agreement with Mark Thoenes, who is serving as the Interim Chief Executive Officer. The agreement, effective from November 1, 2024, includes a monthly professional fee of $25,000 and a grant of 100,000 shares of common stock under the company's 2020 Stock and Incentive Compensation Plan. This agreement is set to terminate on January 31, 2025, with provisions for extension by mutual consent or termination by the company with a prorated compensation clause. Additionally, on October 29, 2024, Kaival Brands entered into an employment agreement with Eric Morris, the Interim Chief Financial Officer. Morris's agreement includes a base salary of $180,000 per year, a potential $20,000 bonus, and a grant of 250,000 shares of restricted stock under the same compensation plan. Both agreements are subject to termination by either party at any time. The full texts of these agreements have been included as exhibits in the SEC filing dated November 5, 2024.