Company: JSDA
Filing Date: 2025-02-13
Form Type: 8-K
Source: 0001493152-25-006363
Chunk: 2

Company: JONES SODA CO.
Filing Date: 2025-02-13
Form: 8-K
Item: Item 2.03
Chunk 2
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Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The
information set forth in Item 1.01 above is incorporated herein by reference.

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

Appointment
of Chief Executive Officer

Effective
as of February 5, 2025, the Company’s Board of Directors appointed Scott Harvey, age 63, as the Company’s President
and Chief Executive Officer, replacing Paul Norman, who had served as Interim Chief Executive Officer since October 25, 2024. In connection
with his appointment as Chief Executive Officer, Mr. Harvey will serve as the Company’s Principal Executive Officer.

Mr.
Harvey most recently served as Brand President of Dunn Brothers Coffee, a chain of coffee shops offering small-batch roast coffee
in seven states, from July 2023 to February 2025. He has also held executive posts with Golden Krust
Caribbean Bakery as President and CEO from January 2022 to July 2023, Black Rifle Coffee Company as President
and COO from September 2018 to August 2021, Nathan’s Famous as Executive VP from July 2015 to September
2018 and Einstein Noah Restaurant Group as SVP Restaurant Operations from January 1995 to June 2015. Mr. Harvey
earned a B. S. in hotel and restaurant management from Johnson & Wales University.

Mr.
Harvey 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. Harvey has, or will have,
a material interest subject to disclosure under Item 404(a) of Regulation S-K.

  -2-  

Mr.
Harvey was not appointed as the Company’s President and Chief Executive Officer pursuant to any arrangement or understanding with
any other person.

In
connection with Mr. Harvey’s appointment as President and Chief Executive Officer, Mr. Harvey entered into an employment agreement,
dated February 5, 2024 (the “ Harvey Employment Agreement”). Pursuant to the Harvey Employment Agreement, Mr. Harvey is entitled
to an annual salary of $350,000, and is eligible to receive (i) an annual cash bonus of up to 50% of