Company: JSDA
Filing Date: 2025-06-04
Form Type: DEF 14A
Source: 0001641172-25-013621
Chunk: 11

Company: JONES SODA CO.
Filing Date: 2025-06-04
Form: DEF 14A
Chunk 11
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 do not have any interest in Proposal
3, the ratification of the appointment of the Company’s independent registered public accounting firm.

<div align='center'>CORPORATE GOVERNANCE STANDARDS AND DIRECTOR INDEPENDENCE</div>

We are committed to good corporate governance
practices. These practices provide an important framework within which our Board of Directors and management pursue our strategic objectives
for the benefit of our shareholders.

Composition of our Board of Directors

Our business and affairs are managed under the
direction of our Board of Directors. We currently have five directors, who are elected annually. Our current directors will continue to
serve as directors until their death, resignation, removal or successor is duly elected. No director is required to make any specific
amount or percentage of his/her business time available to us. Each of our officers intends to devote such amount of his time to our affairs
as is required or deemed appropriate.

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Board Leadership Structure and Role in Risk Oversight

The Board of Directors selects the Chairman by
consensus. Mr. Norman currently serves as the Chairman of the Board. The Board of Directors does not have a specific policy on whether
the roles of Chief Executive Officer and Chairman of the Board should be separate, or if the roles are separate, whether the Chairman
of the Board should be selected from the non-employee directors. Although Mr. Norman served as the both Chairman and the Company’s
Interim Chief Executive Officer from October 25, 2024 to February 5, 2025 and Interim Chief Financial Officer from November 12, 2024 to
February 5, 2025, currently, these roles are separate and the Chairman is a non-employee director. The Board of Directors believes that
it should have discretion to determine the most appropriate leadership structure within the Board of Directors from time to time.

The Board of Directors believes having an independent
Chairman of the Board is the appropriate leadership structure for the Board of Directors at this particular time. The Board of Directors
believes this structure ensures a greater role for the independent directors in the oversight of the Company, as well as their active
participation in setting agendas and establishing priorities and procedures for the work of the Board of Directors. The Board of Directors
also believes its administration of risk oversight, as discussed below, has not affected the Board’s leadership structure.

The Board of Directors oversees the Company’s
risk management process, while executive management oversees and manages risk on a day-to-day operational basis.