Jamba, Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

EMERYVILLE, Calif.--(BUSINESS WIRE)--Jamba, Inc. (NASDAQ:JMBA) (“Jamba” or the “Company”) today announced that Marie Perry, who recently joined Jamba to succeed Karen Luey, Jamba’s current Executive Vice President, Chief Financial and Administration Officer after a transition period, has been granted (i) (a) nonqualified stock options to purchase up to 75,000 shares of the Company's common stock at an exercise price per share of $11.65, equal to the closing price of the Company’s common stock on the date of grant and (b) 6,000 restricted stock units, in each case vesting annually over three years subject to her employment; and (ii) an award of 85,000 restricted stock units of which 40,000, 25,000 and 20,000 would vest upon achievement of stock price targets of $19.50, $24.00 and $28.50 during the three year period after grant, respectively (targeting an approximate 15%, 22.5% and 30% total stockholder return over a three year period), so long as Ms. Perry remains an employee of Jamba Juice Company and/or its affiliates. Additionally, upon a change of control during the three year period after the grant date whereby the Company’s stockholders receive per-share consideration equaling or exceeding any of the price targets listed above, the units will vest in the amounts listed above for each price target (as adjusted for any stock splits, dividends, or similar transactions).