Exhibit 10.3
SEVERANCE AGREEMENT
This SEVERANCE AGREEMENT (this “Agreement”) is entered into as of August 15, 2022 (the “Effective Date”), by and between Zevia PBC, a Delaware public benefit corporation (the “Company”), and Florence C. Neubauer (“Executive”).
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Following Executive’s Qualifying Termination that does not occur during a CIC Protection Period, except as set forth in this Section 3(b), Executive shall have no further rights to any compensation or any other benefits under this Agreement.
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Following Executive’s Qualifying Termination that occurs during a CIC Protection Period, except as set forth in this Section 3(c), Executive shall have no further rights to any compensation or any other benefits under this Agreement.
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If to the Company, addressed to:
Zevia PBC
Attn: General Counsel
15821 Ventura Blvd., Suite 145
Encino, CA 91436
If to Executive, to the address listed in the Company’s payroll records from time to time.
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[Signature Page Follows this Page]
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IN WITNESS WHEREOF, the parties hereto have duly executed this Severance Agreement as of the Effective Date.
ZEVIA PBC
/s/ Lorna R. Simms
Name: Lorna R. Simms
Title: Senior Vice President, General Counsel and Corporate Secretary
EXECUTIVE
/s/ Florence C. Neubauer
Name: Florence C. Neubauer
Signature Page to
Severance Agreement