Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 30, 2022, Jones Soda Co. (the "Company") entered into a rescission
agreement (the "Rescission Agreement") with Mark Murray, the Company's Chief
Executive Officer and President. Under the terms of the Rescission Agreement
each of the Company and Mr. Murray agreed to rescind and cancel for no
consideration all 1,200,000 currently outstanding restricted stock units (the
"RSUs") previously granted to Mr. Murray in May 2022 as well as all 600,000
shares of the Company's common stock previously issued to Mr. Murray as a result
of the vesting of 600,000 RSUs in August 2022.
The foregoing summary of the Rescission Agreement is qualified in its entirety
by reference to the terms of the actual Rescission Agreement, a copy of which is
attached hereto as Exhibit 10.1 and is incorporated by reference into this Item
5.02
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit No. Description
10.1 Rescission Agreement between the Company and Mark Murray dated
December 30, 2022
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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