Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 285

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1A
Chunk 285
---
 giving at least 30 days’ written notice. If we terminate Mr. Stranberg without cause or he resigns for good reason as provided
under the Stranberg Employment Agreement, we must pay at least 24 months’ severance, reimbursement of Mr. Stranberg for the first
18 months of the premiums associated with Mr. Stranberg’s continuation of health insurance for Mr. Stranberg and his family pursuant
to COBRA, and immediate vesting of any outstanding unvested equity granted to Mr. Stranberg during Mr. Stranberg’s employment and immediate
lifting of all lockups and restrictions on sales of such equity, or exercise of stock options. If we give notice of non-renewal of the
Stranberg Employment Agreement with 60 days’ notice, then, upon Mr. Stranberg’s execution of a release, we must pay six months’
severance and reimburse the first six months of the premiums associated with Mr. Stranberg’s continuation of health insurance for
him and his family pursuant to COBRA.

Mr. Stranberg is also subject to standard confidentiality
and noncompetition provisions, and Mr. Stranberg’s stock option agreement contains certain non-competition and non-solicitation
provisions pursuant to the standard form of such agreement under the Plan.

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

Under the Consulting Agreement among John Audibert,
JCA, which is Mr. Audibert’s his wholly-owned company, and the Company, dated December 2, 2021 (the “Audibert Consulting Agreement”),
which was in effect from December 2, 2021 until April 14, 2023, we agreed that, for a 27-month term, unless terminated earlier in accordance
with its terms, we will receive the services of JCA and pay or grant JCA the compensation described below, and Mr. Audibert would continue
to serve as our Vice President of Growth and Strategic Initiatives. We agreed to pay JCA a signing fee of $30,000, an annual fee of $100,000
and a monthly automobile bonus of $750. We agreed to grant JCA base restricted stock bonuses as follows: (i) 20,000 restricted shares
of common stock, granted as of the agreement date, which vested on the three-month anniversary of the date of grant; (ii) 20,000 additional