The Alkaline Water Company Inc. - Exhibit 10.1 - Filed by newsfilecorp.com






TERMINATION OF STOCK OPTION AGREEMENT 

THIS AGREEMENT is entered into and made effective as of
_____________________________, 2016. 

BETWEEN: 


  
    
      
        THE ALKALINE WATER COMPANY INC., a company incorporated
          pursuant to the laws of the State of Nevada, with an office at 7730 E. Greenway
          Road, Suite 203, Scottsdale, Arizona, 85260 

        (the “Company”) 

      

    

  



AND: 


  
    
      
        <>, a <> 

        (the “Optionee”) 

      

    

  



WHEREAS: 

A.          
The Company granted <> stock options (the “Options”) to the
Optionee pursuant to the terms of a stock option agreement dated <> (the
“Stock Option Agreement”);

B.          
The Company proposes to grant <> stock options (the “New Options”)
to the Optionee pursuant to the terms of a stock option agreement dated
<>, 2017; 

C.          
In consideration for granting the New Options to the Optionee, the parties wish
to terminate the Stock Option Agreement and cancel the Options, with such
termination and cancellation to be effective immediately (collectively, the
“Termination”), on the terms and conditions set out herein.

NOW THEREFORE in consideration of the sum of ten dollars
($10.00), and for other good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged, the Parties do hereby covenant and
agree as follows: 

	1. 	
      The Stock Option Agreement is hereby terminated as of
      <>, 2017, and is of no further force or effect. 

	  	
       

	2. 	
      The Options are hereby cancelled immediately. 

	  	
       

	3. 	
      The parties will execute and deliver all such further
      documents, do or cause to be done all such further acts and things, and
      give all such further assurances as may be necessary to give full effect
      to the provisions and intent of this Agreement. 

	  	
       

	4. 	
      There are no representations, warranties, collateral
      agreements, or conditions with respect to the subject matter of this
      Agreement except as herein specified. 

	  	
       

	5. 	
      This Agreement will enure to the benefit of and be
      binding upon the Parties and their respective heirs, executors,
      administrators, successors, and assigns. 







- 2 - 

	6. 	
      This Agreement may be executed in counterpart and such
      counterparts together will constitute a single instrument. Delivery of an
      executed counterpart of this Agreement by electronic means, including by
      facsimile transmission or by electronic delivery in portable document
      format (“.pdf”), will be equally effective as delivery of a manually
      executed counterpart hereof. The Parties acknowledge and agree that in any
      legal proceedings between them respecting or in any way relating to this
      Agreement, each waives the right to raise any defense based on the
      execution hereof in counterparts or the delivery of such executed
      counterparts by electronic means.



IN WITNESS WHEREOF the Parties have executed this Agreement as
of the date first written above. 

THE ALKALINE WATER COMPANY INC. 

	Per:            _____________________________________	  	  
	               
         Authorized Signatory 	  	  
	  	  	  
	SIGNED by <> in the presence of: 	) 	  
	  	) 	  
	  	) 	  
	Signature of Witness 	) 	  
	  	) 	  
	  	) 	  
	Name of Witness 	) 	 
    
	  	) 	<> 
	  	) 	  
	Address of Witness 	) 	  
	  	) 	  
	  	) 	  
	Address of Witness 	) 	  
	  	) 	  
	  	) 	  
	Occupation of Witness 	) 	  
	  	) 	  
	  	  	  
	OR 	  	  
	  	  	  
	<> 	  	  
	  	  	  
	  	  	  
	Per:            _____________________________________	  	  
	               
         Authorized Signatory