Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1784

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 9
Chunk 1784
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 $1.55 per share.

Upon the
occurrence of a Change in Control (as defined by the A&R Audibert Consulting Agreement) during the A&R 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 will no longer
be subject to forfeiture, unless expressly provided otherwise in the governing documents for such awards. Either the Company or JCA may
terminate the A&R Audibert Consulting Agreement for material breach and failure to cure such breach within 15 days of receipt of notice
by the non-breaching party. Both the Company and JCA may terminate the A&R Audibert Consulting Agreement without cause by giving at
least 30 days’ written notice. Termination under any provision of the A&R Audibert Consulting Agreement will generally result
in the Company’s obligation to provide accrued and unpaid or pending cash, equity or other compensation. If the Company or JCA terminates
the agreement without cause as provided under the A&R Audibert Consulting Agreement, and JCA and Mr. Audibert then deliver their signatures
to the general release and waiver form annexed to the A&R Audibert Consulting Agreement within 60 days, then the Company must pay
JCA a $50,000 fee.

JCA and
Mr. Audibert are also subject to general confidentiality and non-interference provisions under the A&R Audibert Consulting Agreement
and general non-competition and non-solicitation provisions in JCA’s stock option agreement and restricted stock award agreement
pursuant to the standard forms of such agreements under the Plan.

66

Employment Agreement with Ian Wall

The Company
and Ian Wall, its Chief Information Officer, are parties to an employment letter agreement, dated as of December 11, 2023 (the “Wall
Employment Agreement”). Under the Wall Employment Agreement, Mr. Wall will receive an initial annual base salary of $265,000 and
potential salary and annual bonus increases in future years based on the successful achievement of personal and business-related goals.
Mr. Wall will receive a monthly automobile and cellular phone allowance of up to $750. Mr. Wall also received a signing bonus of a stock
option to purchase 15,000 shares of common stock which vested immediately as to one-third and will vest as to each remaining