Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - JONES SODA CO | Financial_Report.xls |
EX-10.5 - EX-10.5 - JONES SODA CO | v59631exv10w5.htm |
EX-32.1 - EX-32.1 - JONES SODA CO | v59631exv32w1.htm |
EX-31.1 - EX-31.1 - JONES SODA CO | v59631exv31w1.htm |
EX-10.1 - EX-10.1 - JONES SODA CO | v59631exv10w1.htm |
EX-31.2 - EX-31.2 - JONES SODA CO | v59631exv31w2.htm |
EX-32.2 - EX-32.2 - JONES SODA CO | v59631exv32w2.htm |
EX-10.4 - EX-10.4 - JONES SODA CO | v59631exv10w4.htm |
10-Q - FORM 10-Q - JONES SODA CO | v59631e10vq.htm |
Exhibit 10. 3
JONES SODA CO.
2011 INCENTIVE PLAN
2011 INCENTIVE PLAN
STOCK OPTION GRANT NOTICE
Jones Soda Co. (the Company) hereby grants to you an Option (the Option) to purchase
shares of the Companys Common Stock under the Companys 2011 Incentive Plan (the Plan). The
Option is subject to all the terms and conditions set forth in this Stock Option Grant Notice (this
Grant Notice) and in the Stock Option Agreement and the Plan, which are incorporated into this
Grant Notice in their entirety.
Participant: |
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Grant Date: |
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Vesting Commencement Date: |
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Number of Shares Subject to Option (the
Shares): |
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Exercise Price (per Share): |
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Option Expiration Date: |
(subject to earlier the terms of the Plan and the termination in | |||
accordance with Stock Option Agreement) | ||||
Type of Option: | Nonqualified Stock Option | |||
Vesting and Exercisability Schedule: | 25% of the Option will vest and become exercisable on the first anniversary of the Vesting Commencement Date and an additional 1/48th of the Option will vest and become exercisable each additional one-month period of continuous service completed thereafter. |
Additional Terms/Acknowledgement: You acknowledge receipt of, and understand and agree to,
this Grant Notice, the Stock Option Agreement and the Plan. You further acknowledge that as of the
Grant Date, this Grant Notice, the Stock Option Agreement and the Plan set forth the entire
understanding between you and the Company regarding the Option and supersede all prior oral and
written agreements on the subject.
JONES SODA CO.
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PARTICIPANT | |
By:
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[Name] | |
Title: |
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Attachments:
1. Stock Option Agreement
1. Stock Option Agreement
JONES SODA CO.
2011 INCENTIVE PLAN
2011 INCENTIVE PLAN
STOCK OPTION AGREEMENT
Pursuant to your Stock Option Grant Notice (the Grant Notice) and this Stock Option
Agreement, Jones Soda Co. has granted you an Option under its 2011 Incentive Plan (the Plan) to
purchase the number of shares of the Companys Common Stock indicated in your Grant Notice (the
Shares) at the exercise price indicated in your Grant Notice. Capitalized terms not explicitly
defined in this Stock Option Agreement but defined in the Plan shall have the same definitions as
in the Plan.
The details of the Option are as follows:
1. Vesting and Exercisability. Subject to the limitations contained herein, the Option will
vest and become exercisable as provided in your Grant Notice, provided that vesting will cease upon
your Termination of Service and the unvested portion of the Option will terminate.
2. Securities Law Compliance. Notwithstanding any other provision of this Agreement, you may
not exercise the Option unless the Shares issuable upon exercise are registered under the
Securities Act or, if such Shares are not then so registered, the Company has determined that such
exercise and issuance would be exempt from the registration requirements of the Securities Act.
The exercise of the Option must also comply with other applicable laws and regulations governing
the Option, and you may not exercise the Option if the Company determines that such exercise would
not be in material compliance with such laws and regulations.
3. Independent Tax Advice. You should obtain tax advice independent from the Company when
exercising the Option and prior to the disposition of the Shares.
4. Method of Exercise. You may exercise the Option by giving written notice to the Company,
in form and substance satisfactory to the Company, which will state your election to exercise the
Option and the number of Shares for which you are exercising the Option. The written notice must
be accompanied by full payment of the exercise price for the number of Shares you are purchasing.
You may make this payment in any combination of the following: (a) by cash; (b) by wire transfer
or check acceptable to the Company; (c) if the Common Stock is registered under the Exchange Act
and to the extent permitted by law, by instructing a broker to deliver to the Company the total
payment required; or (d) by any other method permitted by the Committee.
5. Treatment Upon Termination of Service. The unvested portion of the Option will terminate
automatically and without further notice immediately upon your Termination of Service. You may
exercise the vested portion of the Option as follows:
(a) General Rule. You must exercise the vested portion of the Option on or before the earlier
of (i) three months after your Termination of Service and (ii) the Option Expiration Date;
(b) Retirement or Disability. If your employment or service relationship terminates due to
Retirement or Disability, you must exercise the vested portion of the Option on or before the
earlier of (i) one year after your Termination of Service and (ii) the Option Expiration Date.
(c) Death. If your employment or service relationship terminates due to your death, the
vested portion of the Option must be exercised on or before the earlier of (i) one year after your
Termination of Service and (ii) the Option Expiration Date. If you die after your Termination of
Service but while the Option is still exercisable, the vested portion of the Option may be
exercised until the earlier of (x) one year after the date of death and (y) the Option Expiration
Date; and
(d) Cause. The vested portion of the Option will automatically expire at the time the Company
first notifies you of your Termination of Service for Cause, unless the Committee determines
otherwise. If your employment or service relationship is suspended pending an investigation of
whether you will be terminated for Cause, all your rights under the Option likewise will be
suspended during the period of investigation. If any facts that would constitute termination for
Cause are discovered after your Termination of Service, any Option you then hold may be immediately
terminated by the Committee.
It is your responsibility to be aware of the date the Option terminates.
6. Limited Transferability. During your lifetime only you can exercise the Option. The
Option is not transferable except by will or by the applicable laws of descent and distribution.
The Plan provides for exercise of the Option by a beneficiary designated on a Company-approved
form. Notwithstanding the foregoing and to the extent permitted by Section 422 of the Code, the
Committee, in its sole discretion, may permit you to assign or transfer the Option, subject to such
terms and conditions as specified by the Committee.
7. Withholding Taxes. As a condition to the exercise of any portion of an Option, you must
make such arrangements as the Company may require for the satisfaction of any federal, state, local
or foreign withholding tax obligations that may arise in connection with such exercise.
8. Option Not an Employment or Service Contract. Nothing in the Plan or any Award granted
under the Plan will be deemed to constitute an employment contract or confer or be deemed to confer
any right for you to continue in the employ of, or to continue any other relationship with, the
Company or any Related Company or limit in any way the right of the Company or any Related Company
to terminate your employment or other service relationship at any time, with or without Cause.
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9. No Right to Damages. You will have no right to bring a claim or to receive damages if you
are required to exercise the vested portion of the Option within three months (one year in the case
of Retirement, Disability or death) of your Termination of Service or if any portion of the Option
is cancelled or expires unexercised. The loss of existing or potential profit in Awards will not
constitute an element of damages in the event of your Termination of Service for any reason even if
the termination is in violation of an obligation of the Company or a Related Company to you.
10. Binding Effect. This Agreement will inure to the benefit of the successors and assigns of
the Company and be binding upon you and your heirs, executors, administrators, successors and
assigns.
11. Section 409A. Notwithstanding any provision in the Plan or this Agreement to the
contrary, the Committee may, at any time and without your consent, modify the terms of the Option
as it determines appropriate to avoid the imposition of interest or penalties under Section 409A;
provided, however, that the Company makes no representations that the Option shall be exempt from
or comply with Section 409A and makes no undertaking to preclude Section 409A from applying to the
Option.
[Sections 12 and 13 are for non-U.S. employees:]
12. Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. In
accepting the Option, you acknowledge, understand and agree that (a) the Plan is established
voluntarily by the Company, it is discretionary in nature, and may be amended, suspended or
terminated by the Company at any time; (b) the grant of the Option is voluntary and occasional and
does not create any contractual or other right to receive future grants of options, or benefits in
lieu of options, even if options have been granted repeatedly in the past; (c) all decisions with
respect to future option grants, if any, will be at the sole discretion of the Company; (d) you are
voluntarily participating in the Plan; (e) the Option and any Shares acquired under the Plan are
extraordinary items that do not constitute compensation of any kind for services of any kind
rendered to the Company, and which is outside the scope of your service contract, if any; (f) the
Option and any Shares acquired under the Plan are not intended to replace any compensation; (g) the
Option and any Shares acquired under the Plan are not part of normal or expected compensation for
any purposes, including, but not limited to, calculating any severance, resignation, termination,
redundancy, dismissal, end of service payments, bonuses, long-service awards, or similar payments
and in no event should be considered as compensation for, or relating in any way to, past services
for the Company or any Related Company; (h) the future value of the Shares underlying the Option is
unknown and cannot be predicted with certainty; (i) if the underlying Shares do not increase in
value, the Option will have no value; (j) if you exercise the Option and acquire Shares, the value
of such Shares may increase or decrease in value, even below the exercise price; (k) no claim or
entitlement to compensation or damages shall arise from forfeiture of the Option resulting from
your Termination of Service by the Company or a Related Company (for any reason whatsoever and
whether or not in breach of local laws) and in
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consideration of the grant of the Option to which
you are otherwise not entitled, you irrevocably agree never to institute any claim against the
Company or any Related Company, waive your ability, if any, to bring any such claim, and release
the Company or any Related Company from any such claim; if, notwithstanding the foregoing, any such
claim is allowed by a court of competent jurisdiction, then, by participating in the Plan, you
shall be deemed irrevocably to have agreed not to pursue such claim and agree to execute any and
all documents necessary to request dismissal or withdrawal of such claims; (l) in the event of your
Termination of Service (whether or not in breach of local laws), your right to vest in the Option
under the Plan, if any, will terminate effective as of the date that you are no longer actively
retained and will not be extended by any notice period mandated under local law; furthermore, in
the event of your Termination of Service (whether or not in breach of local laws), your right to
exercise the Option after Termination of Service, if any, will be measured by the date of
termination of your active service and will not be extended by any notice period mandated
under local law; the Committee shall have the exclusive discretion to determine when you are no
longer actively retained in service for purposes of your Option grant; and (m) the Option and the
benefits under the Plan, if any, will not automatically transfer to another company in the case of
a merger, take-over or transfer of liability.
13. Data Privacy. By entering into this Agreement and accepting the Option, you explicitly
and unambiguously consent to the collection, use and transfer, in electronic or other form, of any
of your personal data that is necessary to facilitate the implementation, administration and
management of the Option and the Plan. You understand that the Company and any Related Company
may, for the purpose of implementing, administering and managing the Plan, hold certain personal
information about you, including, but not limited to, your name, home address and telephone number,
date of birth, social insurance number or other identification number, salary, nationality, job
title any shares of stock or directorships held in the Company, details of all options or any other
entitlement to shares of stock awarded, canceled, exercised, vested, unvested or outstanding in
your favor, for the exclusive purpose of implementing, administering and managing the Plan
(Data).
You understand that Data may be transferred to any third parties assisting in the
implementation, administration and management of the Plan, including any broker with whom the
Shares issued upon vesting of the Option may be deposited, and that these recipients may be located
in your country or elsewhere, and that the recipients country (e.g., the United States) may have
different data privacy laws and protections than your country You understand that you may request
a list with the names and addresses of any potential recipients of the Data by contacting the
Company. You authorize the Company, and any other possible recipients which may assist the Company
(presently or in the future) with implementing, administering and managing the Plan to receive,
possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of
implementing, administering and managing your participation in the Plan. You understand that Data
will be held only as long as is necessary to implement, administer and manage your participation in
the Plan. You understand that you may, at any time, view Data, request additional information
about the storage and processing of Data, require any necessary amendments to
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Data or refuse or
withdraw the consents herein, in any case without cost, by contacting in writing the Company. You
understand, however, that refusing or withdrawing your consent may affect your ability to
participate in the Plan. For more information on the consequences of your refusal to consent or
withdrawal of consent, you understand that you may contact the Company.
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