Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 454

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 454
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 EBITDA for the first time in any full calendar year; and (f) 500,000 shares
upon the Company achieving a positive EBITDA of $10 Million for the first time in any calendar year, and (g) for every $1,000,000
raised by the Company through financing, Mr. La Rosa shall be granted an equity award equal to 2% of the outstanding shares of
Common Stock, such award to be issued under the equity incentive plan of the Company and upon consummation of such financing. He is also
entitled to receive perquisites including a corporate automobile, cellular telephone, health and disability insurance and
participation in the Company’s 401(k) plan. Mr. La Rosa will be entitled to 40 days of annual vacation plus Company observed
holidays per calendar year and will be reimbursed for his business travel expenses. Any amounts payable under the employment
agreement are subject to any policy established by the Company providing for claw back or recovery of amounts that were paid to Mr.
La Rosa. The Company will make any determination for claw back or recovery in its sole discretion and in accordance with any
applicable law or regulation. 

64

Mr. La Rosa’s employment
may be terminated by him or the Company at any time and for any or no reason with least 90 days advance written notice from the terminating
party. If Mr. La Rosa’s employment is terminated by his failure to renew his agreement, by the Company for “cause” (as
defined in the agreement) or by Mr. La Rosa without “good reason” (as defined in the agreement), then he will be entitled
to receive: (i) any accrued but unpaid Base Salary and accrued but unused paid time off; (ii) reimbursement for unreimbursed business
expenses properly incurred; and (iii) such employee benefits (including equity compensation), if any, to which he may be entitled under
the Company’s employee benefit plans as of the date of termination (“Accrued Amounts”), but he shall not be entitled
to any severance or termination payment.

If Mr. La Rosa’s employment
is terminated by his death or disability, the Company will pay him or his estate an amount equal to the sum of: (i) the Accrued Amounts;
and (ii) a payment equal to the product of (i) the Target Bonus and (ii) a fraction, the numerator of which is the number of days that
he was employed