Company: JSDA
Filing Date: 2025-02-13
Form Type: 8-K
Source: 0001493152-25-006363
Chunk: 3

Company: JONES SODA CO.
Filing Date: 2025-02-13
Form: 8-K
Item: Item 2.03
Chunk 3
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 his then in effect annual base salary
in the event the Company achieves annual revenue and EBITDA targets in the applicable fiscal year as determined by the Company’s
Board of Directors, plus (ii) an additional 50% of his then in effect base salary in the event he achieves other mutually agreeable financial
and/or operating objectives as determined by the Company’s Board of Directors. Additionally, pursuant to the terms of the
Harvey Employment Agreement, Mr. Harvey was granted non-qualified stock options to purchase up to 4,000,000 shares of the Company’s
common stock under Company’s 2022 Omnibus Equity Incentive Plan (the “ Harvey Stock Options”). The Harvey Stock Options
are scheduled to vest as follows: (i) 1,000,000 Harvey Stock Options on February 4, 2026; (ii) 1,000,000 Harvey Stock Options on February
4, 2027; (iii) 1,000,000 Harvey Stock Options on February 4 2028 and (iv) the remaining 1,000,000 Harvey Stock Options on February 4, 2029, in each case subject to Mr. Harvey’s continued service with the Company as an executive officer.

The
foregoing summary does not purport to be complete and is qualified in its entirety by reference to the complete copy of the Harvey Employment
Agreement which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K.

Appointment
of Chief Financial Officer

Effective
as of February 5, 2025, the Company’s Board of Directors appointed Brian Meadows, age 60, as the Company’s Chief Financial
Officer, replacing Paul Norman, who had served as Interim Chief Financial Officer since November 12, 2024. In connection with his appointment
as Chief Financial Officer, Mr. Meadows will serve as both the Company’s Principal Financial Officer and Principal Accounting Officer.

Brian
Meadows brings to the Company experience as a senior executive of companies in several industries. He most recently served from December
2020 to December 2024 as Chief Financial Officer for Simply Better Brands Corporation (TSXV: SBBC)(OTCQX: SBBCF) and has served as Chief
Financial Officer of Atmofizer Technologies Inc.(CSE: ATMO) (OTC PINK: ATMFF) from October 2020 to the present. Previously, Mr. Meadows
worked as an independent