Kaival Brands Innovations Group Inc (KAVL)

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Wow anyone see this this is huge "Adoption of 2020 Stock and Incentive Compensation Plan



On May 28, 2020, the Board of Directors (the “Board”) of the Company adopted the 2020 Stock and Incentive Compensation Plan (the “Incentive Plan”). The following is a summary of the principal features of the Incentive Plan. The summary of the Incentive Plan does not purport to be complete and is qualified in its entirety by reference to the full text of the Incentive Plan, which is included as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.



Background. The purpose of the Incentive Plan is to enhance stockholder value by linking the compensation of the Company’s employees, officers, directors, and consultants to increases in the price of the Company’s common stock and the achievement of other performance objectives and to encourage ownership in the Company by key personnel whose long-term employment is considered essential to the Company’s continued progress and success. The Incentive Plan is also intended to assist the Company in recruiting new employees and to motivate, retain, and encourage such employees and directors to act in stockholders’ interest and share in the Company’s success. The various types of incentive awards that may be provided under the Incentive Plan are intended to enable the Company to respond to changes in compensation practices, tax laws, accounting regulations, and the size and diversity of its business. The Company will not offer incentive stock options under the Incentive Plan. All of the Company’s employees, officers, directors, and consultants will be eligible to be granted awards under the Incentive Plan."