Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1413

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 7
Chunk 1413
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 Mr. Shape and his family pursuant to COBRA, and immediate
vesting of any outstanding unvested equity granted to Mr. Shape during Mr. Shape’s employment and immediate lifting of all lockups
and restrictions on sales of such equity or exercise of stock options. If we give notice of non-renewal of the Shape Employment Agreement
with 60 days’ notice, then, upon Mr. Shape’s execution of a release, we must pay six months’ severance and reimburse the first six
months of the premiums associated with Mr. Shape’s continuation of health insurance for him and his family pursuant to COBRA.

Mr. Shape is also subject to standard confidentiality
and noncompetition provisions, and Mr. Shape’s stock option agreement contains certain non-competition and non-solicitation provisions
pursuant to the standard form of such agreement under the Stran & Company, Inc. Amended and Restated 2021 Equity Incentive Plan (the
“Plan”).

60

Employment
Agreement with David Browner

From January
1, 2022 to July 28, 2022, David Browner, then the Company’s Controller, was provided an annual salary of $150,000 and
standard employee benefits on an at will basis. As of July 29, 2022, Mr. Browner was appointed as the Company’s Interim Chief Financial
Officer. In connection with the appointment, effective as of July 29, 2022, Mr. Browner’s salary was increased to $200,000, and
Mr. Browner was provided with a $750 monthly car allowance. On March 27, 2023, Mr. Browner was appointed as the Company’s Chief
Financial Officer. Mr. Browner’s compensation was left unchanged pending review by the Compensation Committee.

On April
14, 2023, the Compensation Committee approved an Employment Agreement with Mr. Browner (the “Browner Employment Agreement”),
and it was entered into as of the same date. Under the Browner Employment Agreement, Mr. Browner will continue to be employed as the Company’s
Chief Financial Officer and will continue to function as its principal financial officer and principal accounting officer during the term
of the agreement. The initial term of the agreement will be two years and will automatically extend an additional year each year unless
one party gives 60 days’ notice before the end of the term, unless terminated earlier in accordance with its terms