Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2237

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 10
Chunk 2237
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of an equity bonus consisting of vesting of a stock option will relate to a stock option that was or will be granted on the date of the
Browner Employment Agreement and at the beginning of each subsequent fiscal year during the term of the Browner Employment Agreement.
In accordance with the Browner Employment Agreement, on April 14, 2023, the Company granted Mr. Browner a stock option for the purchase
of 100,000 shares of common stock at an exercise price of $1.72 per share, which provided that it would vest and become exercisable upon
certification of attainment of the applicable targets set by the board or the Compensation Committee in accordance with the equity bonus
terms described below. Except as described below, due to the non-attainment of the applicable targets, this option became non-vesting
and non-exercisable. On January 1, 2024, the Company granted Mr. Browner a second stock option for the purchase of 100,000 shares of common
stock at an exercise price of $1.48 per share, which vests and becomes exercisable upon certification of attainment of the applicable
targets set by the board or the Compensation Committee in accordance with the equity bonus terms described below. All equity grants under
the Browner Employment Agreement have been or will be awarded under standard forms of award agreements under the Plan.

An annual
sales-based cash bonus will be awarded based on the percentage of the annual sales target that is certified as attained, as follows: (a)
$1,250 if 95% of the target is certified as attained; (b) $5,000 if 100% of the target is certified as attained; (c) $7,500 if 110% of
the target is certified as attained; or (d) $10,000 if 120% of the target is certified as attained. An annual gross profit-based cash
bonus will also be awarded based on the percentage of an annual gross profit target that is attained, as follows: (a) $6,250 if 95% of
the target is certified as attained, (b) $25,000 if 100% of the target is certified as attained; (c) $37,500 if 110% of the target is
certified as attained; or (d) $50,000 if 120% of the target is certified as attained. An annual net profit-based cash bonus will also
be awarded based on the