Company: JSDA
Filing Date: 2025-06-04
Form Type: DEF 14A
Source: 0001641172-25-013621
Chunk: 37

Company: JONES SODA CO.
Filing Date: 2025-06-04
Form: DEF 14A
Chunk 37
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       - |   |     |              |        - |   |     |              |  (6,500 | ) |     |               |       - |   |
| Change in Fair Value from Prior Year-end to Vesting Date of Awards Granted Prior to year that Vested during year                             |     |            | (71,634 | ) |     |            |          - |   |     |            | (43,750 | ) |     |              | (128,000 | ) |     |              |  (1,433 | ) |     |               | (16,758 | ) |
| Compensation Actually Paid                                                                                                                   |     |            | 383,529 |   |     |            |  1,921,531 |   |     |            | 361,845 |   |     |              |  273,000 |   |     |              | 185,007 |   |     |               | 194,084 |   |

| (3) |     | For the relevant fiscal year, represents the cumulative total shareholder return (TSR) of 
 the Company for the measurement periods ending on December 31, 2024, 2023 and 2022.       |

| (4) |     | Reflects “Net loss” in the Company’s Consolidated Statements of Operations                                 
 included in the Company’s Annual Reports on Form 10-K for the year ended December 31, 2024 2023, and 2022. |

| (5) |     | Includes $468,000 in aggregate grant date fair value of RSUs granted to Mark Murray and $1,172,000                                         
 in aggregate grant date fair value of Stock Options granted to David Knight, minus $156,000 in aggregate grant date fair value of unvested 
 RSUs held by Mark Murray at December 31, 2023 and $1,172,000 in aggregate grant date fair value of unvested Stock Options held by David    
 Knight at December 31, 2023.                                                                                                               |

<div align='center'>CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS</div>

Certain relationships and related transactions

During the last two fiscal years, except as set
forth below, there were no transactions to which we were a party, including transactions in which the amount involved in the transaction
exceeded the lesser of $120,000 or 1% of the average of our total assets at year-end for the