Document:

Rexnord Supplemental Retirement Plan adopted May 1, 2008

 Exhibit 10.21 
 Rexnord Supplemental Retirement Plan 
  
  
  
 EFFECTIVE MAY 1, 2008 
 (3-13-08) 
  
  
  

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 Rexnord Supplemental Retirement Plan 
 Effective as of May 1, 2008, REXNORD LLC (the “Company”) hereby establishes the REXNORD SUPPLEMENTAL RETIREMENT PLAN (the
“Plan”) for the benefit of certain Eligible Employees and their beneficiaries. 
 The Plan is not a qualified pension plan under
Section 401(a) of the Internal Revenue Code of 1986 as amended (the “Code”); however, the Company intends that the Plan be an “employee welfare benefit plan” as defined in the Employee Retirement Income Security Act of 1974
as amended (“ERISA”). 
 This document sets forth rights and obligations of the Company and each Participant with respect to the
Plan as provided below. 
 ARTICLE I 
 Definitions 
 Wherever used in this Plan, the following terms shall have the following meanings, unless a different meaning
is clearly required by the context. 
  

	1.01	“Board” means the Board of Directors of the Company or any Committee thereof as constituted from time to time. 

  

	1.02	“Company” means Rexnord LLC and its successors. 

  

	1.03	“Compensation” means an Eligible Employee’s total compensation, including bonuses and commissions, paid by the Company during the prior Plan Year as reported on IRS
Form W-2 as wages, plus any amounts deferred under a Code Section 125 cafeteria plan, Code Section 401(k) qualified cash or deferred arrangement or Code Section 132(f) arrangement. 

  

	1.04	“Designated Insurance Carrier” means an insurance company selected by the Company in its sole and absolute discretion. 

  

	1.05	“Effective Date” means May 1, 2008. 

  

	1.06	“Eligible Employee” means an Employee whose Compensation for the prior Plan Year is equal to or greater than the compensation amount published in Internal Revenue Service
pronouncements used to determine whether an individual is a highly compensated employee, as defined by Code Section 414(q), for the relevant year. 

  

	1.07	“Employee” means any person employed by the Company who receives stated remuneration other than a pension, severance pay, retainer or fee under contract.

  

	1.08	“Participant” means any Eligible Employee who has become eligible to participate in the Plan in accordance with Article III of the Plan, and who has not ceased to have
rights to a benefit hereunder. 

  

	1.09	“Participant Contribution” means the amount of after-tax Compensation, contributed to the Plan by a Participant pursuant to his payroll deduction directive or check and
deposited with the Designated Insurance Carrier in order to purchase life insurance on the life of said Participant. 

  

	1.10	“Participation Letter Agreement” means the individual written agreement between the Company and a Participant with respect to rights and benefits hereunder, as executed by
the Participant and the Company. 

  

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	1.11	“Plan” means the Rexnord Supplemental Retirement Plan as set forth herein and as may be amended from time to time, together with the Participation
Letter Agreement with respect to any Participant. 

  

	1.12	“Plan Administrator” means the committee or person appointed by the Board to administer the Plan pursuant to Article VII herein. 

  

	1.13	“Plan Year” means the period May 1, 2008 through December 31, 2008, and thereafter, the 12-month period commencing on January 1 and ending on the next
December 31 while the Plan remains in effect. 

  

	1.14	“Policy” means a life insurance contract issued by the Designated Insurance Carrier on the life of a Participant. 

  

	1.15	“Third-Party Administrator” means the entity appointed by the Company to handle certain ministerial administrative matters under the Plan, as provided in Section 7.03
herein. 

  

	1.16	“Total Disability” means a Participant’s disability as defined in the Social Security Act and determined by the Social Security Administration.

 For purposes of the Plan, unless the context requires otherwise, the masculine includes the feminine, the singular the
plural, and vice-versa. 
 ARTICLE II 
 Purpose &
Scope 
  

	2.01	PURPOSE 

 The purpose of the Plan is to provide a
Company-sponsored program pursuant to which each Participant shall make certain contributions to be deposited with a Designated Insurance Carrier in order to purchase life insurance on behalf of the Participant. The Participant Contribution will be
made net after all payroll taxes have been withheld for the year in which such contributions are made on behalf of the Participant. Each Participant will be responsible for all federal, state and local taxes on such contributions. 
  

	2.02	SCOPE 

 The Plan is intended as a statement of agreement
between the Company and each participating Eligible Employee under which, in consideration of the continued satisfactory service of said Eligible Employee, the Company agrees to deposit Participant Contributions with the Designated Insurance Carrier
on behalf of the Participant. 
 ARTICLE III 
 Eligibility
and Participation 
  

	3.01	CLASS OF ELIGIBLE EMPLOYEES 

 Eligibility for participation
in the Plan shall be limited to those Eligible Employees who have satisfied the requirement of Section 3.02 herein, have been designated in writing by the Plan Administrator in its sole and absolute discretion, and have executed the
Participation Letter Agreement and otherwise satisfy the requirements of this Article III. 
  

	3.02	ELIGIBILITY SERVICE 

 Each Eligible Employee must be
employed full-time with the Company in order to become a Participant. 
  

	3.03	ENTRY DATE 

  

	 	(a)	Each Eligible Employee who has satisfied the requirements of Sections 3.01 and 3.02 above shall become a Participant on the first day of the calendar quarter coinciding with or next
following his completion of said requirements, or as soon thereafter as administratively feasible. 

  

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	 	(b)	The provisions of this Article III are subject to the provisions of the Participant Letter Agreement. 

 ARTICLE IV 
 Contributions 
  

	4.01	PURCHASE OF POLICY 

 The Company will assist the
Participant in applying for a Policy on the life of said Participant from the Designated Insurance Carrier. The Policy and all incidents of ownership thereto shall at all times be owned by the Participant and/or his designated assigns, if any.

  

	4.02	FUNDING 

 The Plan is funded exclusively by Participant
Contributions. All Participant Contributions shall be deposited with the Designated Insurance Carrier as soon as feasible but not later than 30 days after the end of the payroll period for which Participant Contributions are deducted from his pay.

 All Participant Contributions delivered to the Designated Insurance Carrier shall be credited to the individual Participant’s premium
account within the time frames established by the Designated Insurance Carrier for purposes of maintaining Policies currently paid and in force. Further, any premium returns, demutualization proceeds, or vendor contract rebates shall be credited to
the Participant’s individual Policy. 
  

	4.03	PARTICIPANT CONTRIBUTION 

  

	 	(a)	Each Participant shall make contributions to the Plan as provided in (1) or (2) below, as applicable to said Participant: 

  

	 	(1)	If the Participant’s Compensation for the Plan Year is $200,000 or less, he shall contribute an amount equal to five percent (5%) of his Compensation.

  

	 	(2)	If the Participant’s Compensation for the Plan Year is greater than $200,000, he shall contribute an amount equal to ten percent (10%) of his Compensation.

 The percentages indicated in (1) and (2) above are intended to generally reflect the life insurance coverage
available to Participants on a guaranteed issue basis within the guidelines provided by the Designated Insurance Carrier. A Participant may contribute a greater percentage of his anticipated Compensation; however, any part or all of the additional
amounts of life insurance applied for may be subject to evidence of insurability in accordance with the Designated Insurance Carrier’s underwriting procedures. 
  

	 	(b)	The amount of Participant Contribution to be deposited with the Designated Insurance Carrier with respect to any Plan Year shall be computed net, after accounting for all payroll
taxes withheld on behalf of the Participant for that Plan Year. 

  

	 	(c)	Participant Contributions shall be by payroll deduction, authorized by the Participant on a form acceptable to the Company, or may be made directly to the Designated Insurance
Carrier by the Participant by personal check. 

  

	4.04	NO COMPANY CONTRIBUTIONS 

 The Company shall not contribute
to the Plan. 
  

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 ARTICLE V 
 Vesting

  

	5.01	PARTICIPANT CONTRIBUTIONS 

 The Participant shall be
vested, at all times, in 100 percent of the value of his Participant Contributions including any gains and losses on same. 
 ARTICLE VI 

Policies 
  

	6.01	PURCHASE OF POLICY 

 The Company shall not be liable nor
shall it be in default in the performance of its obligations under the Plan to purchase a Policy on the life of a Participant should the Designated Insurance Carrier decline coverage for the Participant for any reason whatsoever including, but not
limited to, uninsurability as the result of increased health risk or any other standard in the underwriting process established by the Designated Insurance Carrier to determine the insurability of a Participant. 
  

	6.02	OWNERSHIP OF POLICY 

 The Participant shall be the sole
owner of the Policy. The Participant shall have all incidents of ownership with respect to the Policy including, but not limited to, the right to make any loans, withdrawals or investments of the cash value of the Policy. The Company shall not be
responsible for any interest or taxes on any loans or withdrawals made from the Policy by the Participant. 
  

	6.03	INVESTMENTS AND INDEMNIFICATION 

  

	 	(a)	Under no circumstances shall the Company, its employees, agents, subsidiaries or assigns be liable for the performance of any investment option selected by the Participant or act as
guarantor of any account invested within the Policy. Under no circumstances shall such an entity or individual provide any advice with respect to a Participant’s investment inside any Policy. The Participant assumes all investment risk and
agrees, on his or her own behalf, and also on behalf of his or her surviving spouse, heirs, beneficiaries, successors and assigns, to hold harmless the Company, its employees, agents, subsidiaries and assigns, as well as the Plan Administrator and
Third-Party Administrator, for any and all claims that may be made with respect to the performance of all investments in the Policy. 

  

	 	(b)	Under no circumstances shall the Company, its employees, agents, subsidiaries or assigns, or the Plan Administrator or the Third Party Administrator, be liable for the acts or
omissions of the Designated Insurance Carrier. For example, neither the Company, its employees, agents, subsidiaries and assigns nor the Plan Administrator or the Third Party Administrator shall be liable for any illustrations, performance
projections on any proposed or issued insurance policy provided to the Participant by the Designated Insurance Carrier. All such illustrations and projections shall be considered those of the Designated Insurance Carrier and shall not be reviewed
nor endorsed in any manner by the Company or the Plan Administrator. 

  

	 	(c)	Each Participant agrees, on his or her own behalf, and on behalf of his or her surviving spouse, heirs, beneficiaries, successors and assigns that he or she shall look solely to the
Designated Insurance Carrier for any liability with respect to any death benefit paid by the Designated Insurance Carrier on the Participant’s Policy or the value thereof. 

  

	6.04	ASSIGNMENT 

 The Participant shall have the right to assign
any part or all of the Participant’s vested interest in any Policy and the Plan to any person or entity (including a trust) by execution of a written assignment delivered to the Company and the Designated Insurance Carrier. The Company shall
have no authority to assign, sell, surrender, change the insured or transfer ownership of the Policy or borrow against the cash surrender value of the Policy. 
  

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	6.05	PREMIUM PAYMENTS 

 The Company shall pay to the Designated
Insurance Carrier the full amount of each premium on the Policy on or before the due date as required by the Designated Insurance Carrier in the amount so designated and contributed by the Participant pursuant to the provisions of Article IV herein.
Accordingly, the Company shall deliver the Participant Contributions to the Designated Insurance Carrier as otherwise provided in the Plan. The Company shall have no liability with respect to any additional contributions. 
  

	6.06	TERMINATION OF PARTICIPATION 

 The Participant or the
Company may terminate a Participant’s participation in the Plan with or without the consent of the other party by giving notice in writing to the other party (the “Notice of Termination”). The Plan will continue with respect to any
Participant until either the Plan is terminated in its entirety pursuant to Section 9.02 herein or by delivery of Notice of Termination or such Participant’s voluntary or involuntary termination of employment with the Company (collectively
hereinafter referred to as the “Terminating Event”). The Terminating Event shall immediately and forever release the Company and the Participant of its obligations and responsibilities under the Plan, other than providing a Notice of
Termination if required hereunder. After termination of employment, the former Employee shall communicate directly with the Designated Insurance Carrier with respect to all matters regarding his Policy. 
  

	6.07	DESIGNATED INSURANCE CARRIER 

 The Designated Insurance
Carrier shall be bound only by the terms of the Policy. No provision of the Plan shall in any way enlarge, change, vary, or in any other way affect the obligations of the Designated Insurance Carrier. Any payments the Designated Insurance Carrier
makes or actions it takes in accordance with the Policy shall fully discharge it from all claims, suits and demands of all entities or persons. The Designated Insurance Carrier shall not be bound by or be deemed to have notice of the provisions of
the Plan. 
 ARTICLE VII 
 Administration 
  

	7.01	ADMINISTRATION 

 The Plan shall be administered and
interpreted by the Plan Administrator. Said Plan Administrator has the sole and absolute authority and discretion to administer the Plan in accordance with its terms, to interpret any provision of the Plan and to decide any issue that may affect a
person’s rights and obligations under the Plan. All such interpretations and decisions shall be final, conclusive and binding upon a Participant and any other person who makes a claim with respect to participation or benefits under the Plan.

  

	7.02	POWERS AND DUTIES 

 The Plan Administrator may establish
procedures, correct any defect, supply any information, or reconcile any inconsistency in such manner and to such extent as it shall deem to be necessary or advisable to carry out the purposes of the Plan; provided, however, that any such procedure,
discretionary act, interpretation or construction shall be applied in a nondiscriminatory manner based on uniform principals consistently applied. The Plan Administrator shall have all the powers and authority necessary or appropriate to accomplish
its duties under the Plan. 
 The Plan Administrator shall be charged with the duties of the general administration of the Plan, including,
but not limited to, the following (but only to the extent such duties are not otherwise performed by the Designated Insurance Carrier): 
  

	 	(a)	The discretion to determine all questions relating to the eligibility of any Eligible Employee to receive benefits under the Plan; 

  

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	 	(b)	To compute and make determinations with respect to the amount of benefits with respect to any Participant hereunder; 

  

	 	(c)	To authorize or otherwise direct disbursements to Participants; 

  

	 	(d)	To maintain all necessary records for the administration of the Plan; 

  

	 	(e)	To interpret the provisions of the Plan and to make and publish such rules for the regulation of the Plan as are consistent with the terms hereof; 

  

	 	(f)	To prepare and implement a procedure to notify Eligible Employees that they have been selected as eligible to participate in the Plan; and 

  

	 	(g)	To assist any Participant regarding his rights, benefits, or elections available under the Plan. 

 The Company shall indemnify, hold harmless and defend the Plan Administrator from any liability which the Plan Administrator may incur in connection with
the performance of its duties in connection with the Plan, so long as the Plan Administrator was acting in good faith and within what the Plan Administrator reasonably understood to be the scope of its duties. 
  

	7.03	THIRD-PARTY ADMINISTRATION 

 The Company, at its sole and
absolute discretion, may delegate any administrative matter under the Plan to any Third-Party Administrator. Initially, Mahoney & Associates, a Massachusetts Business Trust, will act as the Third-Party Administrator and assist the Company
and the Plan Administrator with administrative matters. Any Third-Party Administrator shall be held harmless by the Company from all Plan related liabilities, except those that are caused by the willfully or negligent acts of the Third-Party
Administrator. The Company shall be held harmless by the Third-Party Administrator from all Plan related liabilities pertaining to the duties of said Third-Party Administrator, except those that are caused by the willfully or negligent acts of the
Company. 
  

	7.04	TAX WITHHOLDING 

 The Company or the Designated Insurance
Carrier shall have the right to deduct from any benefit owed to the Participant under the Plan any federal, state, or local taxes required by law to be withheld. 
 ARTICLE VIII 
 ERISA Provisions 
  

	8.01	CLAIMS PROCEDURE 

 The provisions of this Article VIII
apply to the extent any determination with respect to a claim is to be made by the Plan Administrator. 
  

	 	(a)	Submitting a Claim. In order to receive a benefit under the Plan, the Participant or such Participant’s beneficiary (the “Claimant”) must submit a written
application to the Plan Administrator on a form provided by the Company. Written or electronic notice of the disposition of the claim shall be furnished to the Claimant within 90 days after the claim is filed. If the Plan Administrator needs
additional time (up to 90 days) to process the claim, written notice shall be provided to the Claimant within the initial 90-day period. Such notice shall indicate the special circumstances which require an extension of time and the day by which the
Plan Administrator expects to render a decision. 

  

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	 	(b)	Denial of Claim. If the claim is denied in whole or in part, the Plan Administrator shall deliver a written notice to the Claimant. The notice will be calculated to be
understood by the Claimant and will set forth: (1) the specific reason or reasons for the denial; (2) references to the pertinent provisions of the Plan on which the denial is based; (3) a description of any additional material or
information necessary for the Claimant to perfect the claim and an explanation of why that material or information is necessary; (4) appropriate information as to the steps to be taken if the Claimant wishes to submit the claim for review;
(5) the time limit for requesting a review of the claim; and (6) a statement of the Claimant’s right to bring a civil action under section 502(a) of ERISA following an adverse determination upon review. The notice shall be delivered
to the Claimant within 90 days after receipt of the claim by the Plan Administrator, unless the Plan Administrator determines that special circumstances require an extension of time. Under these circumstances, the Plan Administrator may extend the
applicable time for an additional 90 days. If an extension is required, the Plan Administrator will provide to the Claimant a notice prior to the extension and the date by which the Plan Administrator expects to make a decision regarding the claim.

  

	 	(c)	Request for Review of a Denied Claim. If a claim has been denied in whole or in part pursuant to Section 8.01(b), the Claimant shall have 60 days following receipt of
the denial to request a review of the denial. A request for review shall be in writing and addressed to the Plan Administrator at the Company’s then principal place of business. If the claimant so requests, the Plan Administrator shall conduct
a hearing within 60 days. Whether or not the Claimant requests such a hearing, the Claimant may submit pertinent documents and written issues and comments. The Claimant will be provided, upon request and free of charge, reasonable access to, and
copies of, all documents, records, and other information relevant to his claim. 

  

	 	(d)	Decision Upon Review. The Plan Administrator shall review the denial of the claim, and shall furnish the Claimant with a final decision on review within 60 days after receipt
of the Claimant’s request for review, unless the Plan Administrator determines that special circumstances require an extension of time for processing the request for review. In that case the Plan Administrator may extend the applicable time for
an additional 60 days. If an extension is required, the Plan Administrator will notify the Claimant of the extension and the date by which a decision on review is expected. The decision on review shall be in written or electronic form, shall be
written in a manner calculated to be understood by the Claimant, and shall include (1) specific reasons for the decision; (2) specific references to the pertinent provisions of the Plan on which the decision is based; (3) a statement
that the Claimant is entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information relevant to the claim for benefits; and (4) a statement of the Claimant’s right to
bring an action under section 502(a) of ERISA. If the written decision on review is not furnished to the Claimant within the 60-day period (or the 120-day period in the event that the Plan Administrator requires an extension of time for processing
the review), the claim shall be deemed denied on review. 

 ARTICLE IX 
 General Provisions 
  

	9.01	AMENDMENT 

 The Plan Administrator has the right at any
time and from time to time, and retroactively if necessary or appropriate, to amend in whole or in part any or all provisions of the Plan. No amendment shall have the effect of reducing any Participant’s ownership interest in or existing rights
under any Policy previously purchased on behalf of such Participant under the Plan or otherwise reduce his vested interest with respect to the Plan. Any amendment shall be made by written resolutions of the Plan Administrator. 
  

	9.02	TERMINATION OR SUSPENSION OF ENTIRE PLAN 

 The Plan
Administrator reserves the right, and without the consent of any Participant, spouse, beneficiary, or other person claiming a right under the Plan, to terminate the Plan in its entirety or discontinue contributions under the Plan at any time and for
any reason. 
  

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	9.03	HEADINGS 

 The titles of the Articles and Sections herein
are for convenience of reference only and shall not be construed as a part of the Plan, or have any effect upon the meaning of the provisions of the Plan. 
  

	9.04	SEPARABILITY 

 If any provision of the Plan, as currently
in effect or as amended from time to time, or the application thereof, shall to any extent be invalid or unenforceable, the remaining provisions of the Plan and the application thereof, shall not be affected thereby and shall be valid and enforced
to the extent permitted by law. 
  

	9.05	CONSTRUCTION 

 Wisconsin law shall determine all questions
arising with respect to the provisions of the Plan except to the extent superseded by Federal law. 
  

	9.06	BINDING EFFECT 

 The Plan shall be binding upon, and shall
inure to the benefit of, the Company, Participants and their respective successors and assigns. 
 IN WITNESS WHEREOF, the Company has caused
this document to be executed by its duly authorized officer this             day of             , 2008. 
  

			
		 	Rexnord LLC
		
	 By:
	 	  

	 Name:
	 	  

	 Title:
	 	  

  

 66Form of Restricted Stock Purchase Agreement

 Exh. 10.2 
 JONES SODA CO. 
 — RESTRICTED STOCK PURCHASE AGREEMENT — 
 No.                      
 This Restricted Stock Purchase Agreement (“Agreement”) is made and entered into as of the date of award set forth below (“Date of
Award”) by and between Jones Soda Co., a Washington corporation (“Company”), and the participant named below (“Participant”). Capitalized terms not defined herein shall have the respective meanings ascribed to them in the
Company’s 2002 Stock Option and Restricted Stock Plan (“Plan”). A copy of the Plan has been provided to Participant. 
 Participant’s Name: 
 Participant’s Address: 
 Total Number of Shares: 
 Purchase Price per
Share: 
 Date of Award: 
 Vesting Commencement Date: 
 1. Purchase and Sale of the Shares. Subject to the terms and conditions of this Agreement, the
Company agrees to sell to Participant and Participant agrees to purchase from the Company at the Closing (as defined below) the total number of shares of Common Stock of the Company set forth above (“Shares”) at the purchase price per
share set forth above (“Purchase Price”). All references to the number of Shares and the Purchase Price of the Shares in this Agreement shall be adjusted to reflect any stock split, stock dividend or other similar change in the Shares
which may be made after the date of this Agreement. 
 2. Closing. 
 (a) The purchase and sale of the Shares shall occur at a closing (the “Closing”) to be held on the date first set forth above,
or at any other time mutually agreed upon by the Company and Participant. The Closing will take place at the principal office of the Company or at such other place as shall be designated by the Company. At the Closing, Participant shall deliver the
aggregate Purchase Price set forth above to the Company by cash or personal or cashiers’ check payable to the Company, and the Company will issue, as promptly thereafter as practicable, a stock certificate, registered in the name of the
Participant, reflecting 

  

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the Shares. Notwithstanding the foregoing, Participant may not purchase any Shares under this Award unless such sale and issuance complies with all relevant
provisions of applicable laws and regulations and the requirements of any stock exchange upon which the Company common stock is then listed. 
 (b) In addition, at Closing Participant shall execute and deliver to the Company (i) two copies of the Assignment Separate From Certificate (with the date and the number of Shares left blank) substantially in the
form attached to this Agreement as Exhibit A and (ii) one copy of the Joint Escrow Instructions substantially in the form attached to this Agreement as Exhibit B. 
 3. Repurchase Option. 
 (a) In the event the Participant ceases to be an employee, consultant or director of the Company (each, a “Service Provider”) for any or no reason, including without limitation, by reason of Participant’s death, Disability,
resignation or involuntary termination, with or without Cause, the Company shall upon the date of such termination (as reasonably fixed and determined by the Company) have the right, but not the obligation (the “Repurchase Option”), for a
period of 90 days from such date (or such longer period as may be agreed to by Participant and the Company), to repurchase any Shares which have not yet vested as of the termination date. In addition, in the event Participant is terminated for
Cause, the Company shall have a Repurchase Option for a period of 90 days from the date of termination (or such longer period as may be agreed to by Participant and the Company), to repurchase all Shares, both vested and unvested. The Shares to
which the Repurchase Option relates pursuant to this Section 3(a) shall be referred to as the “Subject Shares”. 
 (b) The Company may exercise its Repurchase Option and repurchase all or any of the Subject Shares at a price per share equal to the Purchase Price (the “Repurchase Price”). The Repurchase Option shall be exercised by the Company
by delivering written notice to the Participant or, in the event of the Participant’s death or disability, Participant’s executor, which shall identify the number of Subject Shares to be repurchased and shall notify Participant of the
time, place and date for settlement of such purchase, which shall be scheduled by the Company within the term of the Repurchase Option. The Company shall be entitled to pay for any Subject Shares repurchased pursuant to its Repurchase Option at the
Company’s option by check or by offset against any indebtedness owing to the Company by Participant, or by a combination of both. Upon delivery of such notice and the payment of the aggregate Repurchase Price, the Subject Shares being
repurchased shall be cancelled and shall return to the Company’s authorized but unissued capital stock, and all rights and interests therein or relating thereto shall be terminated. 
 (b) The Company in its sole discretion may designate and assign one or more employees, officers, directors, stockholders, affiliates,
successors or assigns of the Company or other persons or organizations to exercise all or a part of the Company’s Repurchase Option to purchase all or a part of the Subject Shares. 
  

 -2- 

 4. Vesting; Release of Shares From Repurchase Option. So long as Participant’s continuous
status as a Service Provider has not yet terminated in each such instance, the Shares will vest and be released from the Repurchase Option [INSERT VESTING SCHEDULE]. 
 5. Acceleration of Vesting upon Corporate Transaction. In the event of a Corporate Transaction (as defined in the Plan), unless otherwise determined by the Board or Committee at the time of grant or by
amendment (with the Participant’s consent) all outstanding Shares shall become fully vested and released from the Repurchase Option. 
 6. Investment Representations. In connection with the purchase of the Common Stock, Participant represents to the Company the following: 
 (a) Participant is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision to acquire the Shares.
Participant is acquiring the Shares for investment for his / her own account only and not with a view to, or for resale in connection with, any “distribution” thereof within the meaning of the Securities Act. 
 (b) Participant can properly evaluate the merits and risks of an investment in the Shares and can protect his / her own interests in this
regard, whether by reason of his / her own business and financial expertise, the business and financial expertise of his / her professional advisors, or his / her preexisting business or personal relationship with the Company or any of its officers,
directors or controlling persons. Participant realizes that the purchase of the Shares involves a high degree of risk, and that the Company’s future prospects are uncertain. Participant is able to hold the Shares indefinitely if required, and
is able to bear the loss of his / her entire investment in the Shares. 
 (c) Participant acknowledges that unless and until
the Company files a registration statement under the Securities Act with respect to the Shares, the Shares are “restricted securities” and the Shares may not be resold unless such proposed resale is registered or pursuant to an available
exemption under the Securities Act. The Company is under no obligation to register the Shares or any subsequent proposed resale of the shares. The certificate evidencing the Shares will be imprinted with a legend which prohibits the transfer of the
Shares unless such transfer is registered or such registration is not required in the opinion of counsel for the Company. 
  

 -3- 

 7. Restrictions on Transfer. 
 (a) Restrictive Legends. Participant understands and agrees that the Company shall cause the legends set forth below, or substantially
equivalent legends, to be placed upon any certificate(s) evidencing ownership of the Shares, together with any other legends that may be required by the Company or by applicable state or federal securities laws: 
 “THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A REPURCHASE OPTION HELD BY THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE RESTRICTED
STOCK PURCHASE AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. ANY TRANSFER OR ATTEMPTED TRANSFER OF ANY SHARES SUBJECT TO SUCH OPTION IS VOID WITHOUT THE
PRIOR EXPRESS WRITTEN CONSENT OF THE COMPANY.” 
 (b) Stop-Transfer Notices. Participant agrees that to ensure
compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent. 
 (c) Refusal to Transfer. The Company shall not be required (i) to transfer on its books any Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or
(ii) to treat as owner of such Shares or to accord the right to vote or pay dividends to Participant or other transferee to whom such Shares shall have been so transferred. 
 (d) Unvested Shares. Notwithstanding anything to the contrary in this Agreement, neither any Unvested Shares nor any beneficial
interest in such Unvested Shares shall be sold, gifted, transferred, encumbered or otherwise disposed of in any way (whether by operation of law or otherwise) by the Participant. 
 8. Escrow. As security for the faithful performance of this Agreement, Participant agrees to deliver, immediately upon receipt of the
certificate(s) evidencing the Shares, and authorizes and directs the Company to cause the stock certificates evidencing the Shares to be delivered, to the Secretary of the Company or its designee (the “Escrow Agent”). These documents shall
be held by the Escrow Agent pursuant to the Joint Escrow Instructions of the Company and Participant set forth in Exhibit B to this Agreement, which instructions are incorporated into this Agreement by this reference, and which
instructions shall also be delivered to the Escrow Agent after the Closing Date. 
 9. Rights as Shareholder. Subject to the
provisions of this Agreement, Participant shall exercise all rights and privileges of a shareholder of the Company with respect to the Shares from and after the date that Participant delivers a fully executed copy of this Agreement (including all
exhibits and attachments hereto) and full payment for the Shares to the Company, including the right to vote the Shares, even if some or all of the Shares have not yet vested and been released from the Company’s Repurchase Option. From the date
of the Company’s exercise of its Repurchase Option, Participant shall have no further rights as a holder of the Subject Shares repurchased by the Company, other than the right to receive payment for the Subject Shares so repurchased in
accordance with the provisions of this Agreement. 
 10. Tax Consequences. Participant has reviewed with his / her own tax advisors
the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its
agents. Participant understands that 

  

 -4- 

 
Participant (and not the Company) shall be responsible for any tax liability that may arise as a result of the transactions contemplated by this Agreement.
Participant understands that Code Section 83 taxes as ordinary income the difference between the Purchase Price for the Shares and the fair market value of the Shares as of the date any restrictions on the Shares lapse. In this context,
“restriction” includes the right of the Company to repurchase the Shares pursuant to the Repurchase Option. Participant understands that Participant may elect to be taxed at the time the Shares are purchased, rather than when and as the
Shares vest, by filing with the IRS an election under Code Section 83(b) within 30 days from the date of purchase. THE FORM FOR MAKING THIS SECTION 83(b) ELECTION IS ATTACHED TO THIS AGREEMENT AS EXHIBIT C AND PARTICIPANT (AND NOT
THE COMPANY OR ANY OF ITS AGENTS) SHALL BE SOLELY RESPONSIBLE FOR APPROPRIATELY FILING SUCH FORM, EVEN IF PARTICIPANT REQUESTS THE COMPANY OR ITS AGENTS TO MAKE THIS FILING ON PARTICIPANT’S BEHALF. 
 11. Payment of Withholdings Taxes. Purchaser acknowledges that he / she is responsible for paying or providing for any applicable federal or state
tax withholdings as a result of this Award. Purchaser may satisfy all or part of Purchaser’s tax withholding obligations by (a) paying cash to the Company, (b) having the Company withhold an amount from any cash amounts otherwise due
or to become due from the Company to Purchaser, (c) authorizing the Company to withhold Shares that would otherwise become vested pursuant to this Award (up to the employer’s minimum tax withholding rate) or (d) delivering to the
Company already owned and unencumbered shares of Common Stock (up to the employer’s minimum required tax withholding rate). Notwithstanding the previous sentence, Purchaser acknowledges and agrees that the Company or any affiliate has the right
to deduct from payments of any kind otherwise due to Purchaser any federal, state, local or foreign taxes of any kind required by law to be withheld with respect to this Award. Unless the tax withholding obligations that arise in connection with
this Award are satisfied, the Company shall have no obligation to issue a certificate for such Shares or release such Shares from any escrow provided for herein. 
 12. Employment at Will; No Employment or Service Contract. Participant acknowledges and agrees that the vesting of Shares pursuant to this Agreement is earned only by continuing service as an employee, director
or consultant of the Company. Neither this Award nor anything in this Agreement (including the vesting schedule) constitutes an express or implied promise of continued engagement as an employee, director or consultant, and shall not interfere with
Participant’s right or the Company’s right to terminate Participant’s relationship with the Company at any time, with or without Cause. 
 13. Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by Participant or the Company to the Committee for review. The resolution of such a dispute by the Committee
shall be final and binding on the Company and Participant. 
 14. Notices. Any notice required to be given or delivered to the Company
under the terms of this Agreement shall be in writing and addressed to the Corporate Secretary of the Company at its principal corporate offices. Any notice required to be given or delivered to Participant shall be in writing and addressed to
Participant at the address indicated above or to 

  

 -5- 

 
such other address as such party may designate in writing from time to time to the Company. All notices shall be deemed to have been given or delivered upon
the earlier of: (a) when received; (b) when delivered personally; (c) four days after deposit in the U.S. mail, first class with postage prepaid and properly addressed; (d) one business day after deposit with any return receipt
express courier (prepaid); or (e) one business day after transmission by facsimile (transmission confirmed). 
 15. Successors and
Assigns. The Company may assign any of its rights under this Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of the Company. The rights granted to the Participant under this Agreement are
not assignable by the Participant under any circumstances. Subject to the restrictions on transfer set forth herein, this Agreement shall be binding upon Participant and Participant’s heirs, executors, administrators, legal representatives and
successors. 
 16. Entire Agreement. The Plan is incorporated herein by reference. This Agreement and the Plan constitute the entire
agreement of the parties with respect to the purchase of the Shares by the Participant and supersede all prior written or oral undertakings and agreements, including, but not limited to, any representations made during any interviews, discussions or
negotiations whether written or oral. 
 17. Severability. Should any provision of this Agreement be found to be illegal or
unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable to the greatest extent permitted by law. 
 18. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington, without regard to its provisions regarding conflicts of laws. 
 20. Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed an original, but all of which together
will constitute one and the same agreement. Facsimile copies of signed signature pages shall be binding originals. 
 DATED as of the Date of
Award set forth above. 
  

			
	 JONES SODA CO.

		
	By:	 	 
	Its:	 	 
	Name:	 	 

  

 -6- 

 Acceptance by Participant: 
 Participant acknowledges receipt of a copy of the Plan. Participant has reviewed the Plan and this Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Agreement and fully understands
all provisions of the Plan and this Agreement. Participant acknowledges that there may be adverse tax consequences upon purchase or disposition of the Shares and that Participant should consult a tax adviser prior to any such exercise or
disposition. Participant accepts this Agreement subject to all of the terms and provisions of the Plan and this Agreement. 
 Date signed:
__________________________ 
  

	
	  
	(Signature)
	
	 
	(Print Name)

  

 -7- 

 EXHIBIT A 
 ASSIGNMENT SEPARATE FROM CERTIFICATE 
 For value received and pursuant to that certain Restricted Stock
Purchase Agreement (the “Agreement”), the undersigned Participant hereby sells, assigns and transfers to Jones Soda Co., a Washington corporation (“Company”),
                            (           
 ) shares of the Common Stock of the Company, standing in the undersigned’s name on the books of said corporation represented by Certificate No.          herewith and do hereby
irrevocably constitute and appoint                          as attorney-in-fact to transfer the said stock on the books of
the Company with full power of substitution in the premises. This Assignment may be used only in accordance with and subject to the terms and conditions of the Agreement, in connection with the reacquisition of shares of Common Stock of the Company
issued to the undersigned Participant pursuant to the Agreement, and only to the extent that such Shares remain subject to the Company’s Repurchase Option under the Agreement. 
 Dated: __________________________ 
  

			
	Participant’s Signature:	 	  
		 	
		
	Participant’s Name:	 	 
		 	(please print)

 EXHIBIT B 
 JOINT ESCROW INSTRUCTIONS 
                     , 20__ 
 Corporate
Secretary 
 Jones Soda Co. 
 234 Ninth Avenue North 

Seattle, Washington 98109 
 Dear Sir/Madam: 
 As Escrow Agent for both Jones Soda Co., a Washington corporation (the “Company”), and the undersigned recipient of stock of the Company
(“Recipient”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of that certain Restricted Stock Purchase Agreement (“Agreement”), in accordance with the following instructions:

 1. In the event Recipient ceases to render services to the Company or an affiliate of the Company during the vesting period set forth in
the Agreement, the Company or its assignee will give to Recipient and you a written notice specifying that the shares of stock shall be transferred to the Company. Recipient and the Company hereby irrevocably authorize and direct you to close the
transaction contemplated by such notice in accordance with the terms of said notice. 
 2. At the closing you are directed (a) to date
any stock assignments necessary for the transfer in question, (b) to fill in the number of shares being transferred, and (c) to deliver same, together with the certificate evidencing the shares of stock to be transferred, to the Company.

 3. Recipient irrevocably authorizes the Company to deposit with you any certificates evidencing shares of stock to be held by you
hereunder and any additions and substitutions to said shares as specified in the Agreement. Recipient hereby irrevocably constitutes and appoints you as Recipient’s attorney-in-fact and agent for the term of this escrow to execute with respect
to such securities and other property all documents of assignment and/or transfer and all stock certificates necessary or appropriate to make all securities negotiable and complete any transaction herein contemplated. 
 4. This escrow shall terminate upon vesting of the shares or upon the earlier return of the shares to the Company. From time to time, upon written
request of Recipient, duly confirmed by the Company, you will deliver to Recipient a certificate representing the shares that have vested and that have been released from the Company’s repurchase option. 
  

 -1- 

 5. If at the time of termination of this escrow you should have in your possession any documents,
securities, or other property belonging to Recipient, you shall deliver all of same to Recipient and shall be discharged of all further obligations hereunder. 
 6. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 
 7. You shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by
you to be genuine and to have been signed or presented by the proper party or parties or their assignees. You shall not be personally liable for any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact for Recipient while
acting in good faith and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith. 
 8. You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or corporation, excepting only orders or process of courts of law, and are hereby
expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree of any court, you shall not be liable to any of the parties hereto or to any other person,
firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to have been entered without jurisdiction. 
 9. You shall not be liable in any respect on account of the identity, authority or rights of the parties executing or delivering or purporting to execute
or deliver the Agreement or any documents or papers deposited or called for hereunder. 
 10. You shall not be liable for the outlawing of
any rights under any statute of limitations with respect to these Joint Escrow Instructions or any documents deposited with you. 
 11. You
shall be entitled to employ such legal counsel and other experts as you may deem necessary properly to advise you in connection with your obligations hereunder, may rely upon the advice of such counsel, and may pay such counsel reasonable
compensation therefor. 
 12. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be Secretary of the
Company or if you shall resign by written notice to each party. In the event of any such termination, the Company may appoint any officer or assistant officer of the Company as successor Escrow Agent and Recipient hereby confirms the appointment of
such successor or successors as his attorney-in-fact and agent to the full extent of your appointment. 
 13. If you reasonably require other
or further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 
  

 -2- 

 14. It is understood and agreed that should any dispute arise with respect to the delivery and/or
ownership or right of possession of the securities, you may (but are not obligated to) retain in your possession without liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual written
agreement of the parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend
any such proceedings. 
 15. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon
personal delivery or upon deposit in the U.S. mail, by registered or certified mail with postage and fees prepaid, addressed to each of the other parties hereunto entitled at the following addresses, or at such other addresses as a party may
designate by ten days’ written notice to each of the other parties hereto: 
  

			
	 Company:
	  	Jones Soda Co.
		  	234 Ninth Avenue North
		  	Seattle, Washington 98109
		  	Attn: Chief Executive Officer
		  	
	 Recipient:
	  	_________________________
		  	_________________________
		  	_________________________
		  	
	 Escrow Agent:
	  	Jones Soda Co.
		  	234 Ninth Avenue North
		  	Seattle, Washington 98109
		  	Attn: Corporate Secretary

 16. By signing these Joint Escrow Instructions you become a party hereto only for the purpose of
said Joint Escrow Instructions; you do not become a party to the Agreement. 
 17. This instrument shall be binding upon and inure to the
benefit of the parties hereto, and their respective successors and permitted assigns. It is understood and agreed that references to “you” or “your” herein refer to the original Escrow Agent and to any and all successor Escrow
Agents. It is understood and agreed that the Company may at any time or from time to time assign its rights under the Grant Notice and these Joint Escrow Instructions in whole or in part. 
 Very truly yours, 
  

									
	JONES SODA CO.	 		 	RECIPIENT:
					
	By:	 	 	 		 	Signature:	 	 
	Name:	 	 	 		 	Name:	 	 
	Title:	 	 	 		 		 	

  

 -3- 

 Agreed and Accepted: 
 ESCROW AGENT: 
  

			
		
	By:	 	 
	Name:	 	 
	Title:	 	Corporate Secretary

  

 -4- 

 EXHIBIT C 
 SECTION 83(b) ELECTION 
 The undersigned taxpayer hereby elects, pursuant to Section 83(b) of the Internal Revenue Code
of 1986, as amended, to include in his or her gross income for the current taxable year, the amount of any compensation taxable to him or her in connection with his or her receipt of the property described below: 
  

	(1)	The taxpayer who performed the services is: 

 Name:_________________________________________________________________________________________ 
 Address:
    _______________________________________________________________________________________ 
            ________________________________________________________________________________________ 
 Social Security No.:________________________________________________________________________________ 
  

	(2)	The property with respect to which the election is made is
                    shares (“Shares”) of common stock of Jones Soda Co. (the “Company”). 

  

	(3)	The Shares were transferred to the undersigned on                     ,
20__. 

  

	(4)	The taxable year for which the election is made is the calendar year 20__. 

  

	(5)	The Shares may be repurchased by the Company, or its assignee, if for any reason taxpayer’s service with the Company is terminated. The Company’s repurchase right lapses
with respect to a portion of the Shares over time. 

  

	(6)	The fair market value of such Shares at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is
$                    . 

  

	(7)	The amount, if any, paid for such Shares is $                    .

  

	(8)	A copy of this statement was furnished to the Company, for whom taxpayer rendered the services underlying the transfer of such property. 

  

	(9)	The foregoing election may not be revoked except with the consent of the Commissioner. 

 Dated:                     , 20__. 
  

									
			
	 	 		 	 
	Spouse (if any)	 		 	Taxpayer

 This election must be filed with the Internal Revenue Service Center with which the Employee files his or her
Federal income tax returns and must be filed within 30 days after the date of purchase. This filing should be made by registered or certified mail, return receipt requested. The Employee must retain two copies of the completed form for filing with
his or her Federal and state tax returns for the current tax year and an additional copy for his or her records.

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