Company: JSDA
Filing Date: 2025-02-13
Form Type: 8-K
Source: 0001493152-25-006363
Chunk: 4

Company: JONES SODA CO.
Filing Date: 2025-02-13
Form: 8-K
Item: Item 2.03
Chunk 4
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 consultant from 2018 to 2020 and for GLG Life Tech Corporation (TSX: GLG) where he served as Chief
Financial Officer (from October 2007 to December 2018) and President (from November 2011 to December 2018). Mr. Meadows holds a BBA from
Wilfrid Laurier University and an MBA from the University of Glasgow, and has both a Certified Financials Analyst (CFA) and a Certified
Public Accountant (CPA) designations.

Mr.
Meadows has no family relationships with any current director, director nominee, or executive officer of the Company, and there are no
transactions or proposed transactions, to which the Company is a party, or intended to be a party, in which Mr. Meadows has, or will
have, a material interest subject to disclosure under Item 404(a) of Regulation S-K.

Mr.
Meadows was not appointed as the Company’s Chief Financial Officer pursuant to any arrangement or understanding with any
other person.

In
connection with Mr. Meadows’ appointment as Chief Financial Officer, Mr. Meadows entered into an employment agreement, dated February
12, 2025 (the “ Meadows Employment Agreement”). Pursuant to the Meadows Employment Agreement, Mr. Meadows is entitled to receive
an annual base salary of $250,000. Additionally, for each fiscal year during the term of his employment, Mr. Meadows is
eligible to receive an annual cash bonus of up to 35% of his annual base salary at the discretion of the Company’s Board of Directors.
Further, in connection with consulting work previously provided to the Company, Mr. Meadows was granted non-qualified stock options to
purchase up to 1,250,000 shares of the Company’s common stock under the Company’s 2022 Omnibus Equity Incentive Plan
(the “ Meadows Stock Options”). The Meadows Stock Options are scheduled to vest as follows: (i) 416,667 Meadows Stock Options
on January 2, 2026; (ii) 416,667 Meadows Stock Options on January 2, 2027; and (iii) the remaining 416,667 Meadows Stock Options on January
2, 2028, in each case subject to Mr. Meadows’ continued service with the Company as a consultant or an executive officer.

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Item
9.01 Financial Statements and Exhibits.