Kaival Brands Innovations Group Inks Consulting and Employment Agreements

Kaival Brands Innovations Group, Inc. (NASDAQ:KAVL) recently disclosed in an 8-K filing key agreements with its interim executive team members. Mark Thoenes, the Interim Chief Executive Officer, entered a consulting agreement effective November 1, 2024. As per the terms, Thoenes will receive professional fees amounting to $25,000 monthly. Additionally, the company will grant him 100,000 shares of common stock under the 2020 Stock and Incentive Compensation Plan. The Consulting Agreement is set to conclude on January 31, 2025, unless mutually extended, with provisions for termination by either party.

In a separate agreement outlined in the filing, Kaival Brands also announced an employment agreement with Eric Morris, the Interim Chief Financial Officer, effective October 29, 2024. Under this arrangement, Morris is slated to receive an annual base salary of $180,000. He may further receive a bonus of $20,000 subject to his continuous employment, along with 250,000 shares of restricted stock according to the 2020 Stock and Incentive Compensation Plan. The Employment Agreement allows either party to terminate the agreement at will.

These details were made public through an 8-K filing, where the company submitted pertinent agreements with Thoenes and Morris as Exhibits 10.1 and 10.2, respectively. Kaival Brands Innovations Group, recognized on the Nasdaq Stock Market under the ticker symbol KAVL, continues to solidify its executive team by formalizing agreements with its key interim officers.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Kaival Brands Innovations Group’s 8K filing here.

About Kaival Brands Innovations Group

Kaival Brands Innovations Group, Inc sells, markets, and distributes electronic nicotine delivery system (ENDS) products and related components in the United States. The company offers Bidi Stick, a disposable and tamper-resistant ENDS product in various flavor options for adult cigarette smokers. It sells its products to non-retail customers through convenience stores and the website www.wholesale.bidivapor.com.