Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1277

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1277
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Browner Employment Agreement, Mr. Browner will also be eligible for additional bonus amounts as determined by the board or the Compensation
Committee within its sole discretion. Mr. Browner will receive unlimited paid time off and paid public holidays, standard executive benefits,
standard directors and officers indemnification and insurance coverage, and business-related expense reimbursements.

On February
15, 2024, in connection with the Company’s fiscal year 2023 executive bonus determinations, the Compensation Committee certified
the attainment of the performance conditions under the Browner Agreement for the award of a $26,250 cash bonus, the grant of 5,000 shares
of common stock, and the vesting of the stock option granted to Mr. Browner on April 14, 2023 as to 7,500 shares of common stock.

Mr. Browner’s
employment is terminable with cause upon certain grounds by written notice, subject to a 30-day notice and cure period with respect to
certain of these grounds for termination for cause. Mr. Browner may be terminated without cause upon 30 days’ written notice. Mr.
Browner may terminate employment with good reason upon certain grounds, subject to a 30-day notice and cure period with respect to certain
of these grounds that must begin within 10 days of Mr. Browner’s knowledge of the initial existence of the grounds for termination
for good reason. The effect of Mr. Browner’s termination of the Browner Employment Agreement without complying with the requirements
to terminate with good reason will be equivalent to termination with cause. Termination under any provision of the Browner Employment
Agreement will generally result in the Company’s obligation to provide accrued and unpaid or pending cash, equity or other compensation.
If the Company terminates Mr. Browner without cause or he terminates for good reason, and provided that Mr. Browner signs the general
release and waiver annexed to the Browner Employment Agreement within 60 days, the Company will be required to pay the lesser of the number
of months’ severance remaining under the term of the Browner Employment Agreement and either four months if the termination occurs
during the first year of the term or three months if the termination occurs during the second year of the term, provided that Mr. Browner
receives at least three months’ severance; reimburse Mr. Browner for the first 18 months of the premiums associated with Mr. Browner’s
continuation of health insurance for Mr. Browner and