Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2014

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 9B
Chunk 2014
---
 (as defined by the Plan) and will be granted
when certified by the board or the Compensation Committee.

Upon the occurrence of a change in control during
the Audibert Consulting Agreement’s term, whether or not JCA’s engagement is terminated, or upon JCA’s termination without
cause, all restricted stock, stock option, stock appreciation right or similar awards granted to or pending grant to and held by JCA will
immediately vest and no longer be subject to forfeiture, unless expressly provided otherwise in the governing documents for such awards.
For each fiscal year completed during the Audibert Consulting Agreement’s term, JCA was also eligible to receive additional bonuses
as determined by the board. Both we and JCA were permitted to terminate the Audibert Consulting Agreement by giving at least 30 days’
written notice. If we or JCA terminated the Audibert Consulting Agreement without cause as provided under the Audibert Consulting Agreement,
and JCA and Mr. Audibert delivered their signatures to the general release and waiver form annexed to the Audibert Consulting Agreement,
we were required to make a $25,000 severance payment. JCA and Mr. Audibert were also subject to certain independent contractor, non-solicitation,
confidentiality and non-interference provisions under the Audibert Consulting Agreement and JCA’s stock option agreement and restricted
stock award agreement pursuant to the standard forms of such agreements under the Plan.

On June 29, 2023, the rights to all equity awards
that had been granted to JCA under the Audibert Consulting Agreement were distributed or transferred to Mr. Audibert.

Amended and Restated Consulting Agreement
with John Audibert and Josselin Capital Advisors, Inc.

On April
14, 2023, the Compensation Committee approved an Amended and Restated Consulting Agreement (the “A&R Audibert Consulting Agreement”)
with John Audibert, the Company’s Vice President of Growth and Strategic Initiatives, and JCA, Mr. Audibert’s wholly-owned
company, and was entered into as of the same date. The A&R Audibert Consulting Agreement amended and restated the Audibert Consulting
Agreement. However, a stock option granted to JCA on December 2, 2021 under the Audibert Consulting Agreement and pursuant to the Plan,
subsequently assigned to Mr. Audibert, remains outstanding. See “—Previous Consulting Agreement with John Audibert and