Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 27, 2009, Phoenix International Ventures, Inc.'s (the "Company," "we" or "our") employment agreement with our Chief Financial Officer, Mr. Teja Shariff, expired. The Board of Directors has appointed our Vice President and member of the board, Mr. Neev Nissenson, to the role of Chief Financial Officer of the Company. Mr. Nissenson will be our principal accounting officer for SEC purposes. We had no disagreements with Mr. Shariff with respect to our accounting policies or practices. The board intends to discuss utilizing Mr. Shariff on a consulting basis.