Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1278

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1278
---
 his family pursuant to COBRA; and approve immediate vesting of any outstanding unvested
equity awards granted to Mr. Browner during his employment and immediate lifting of all lockups and restrictions on sales or exercise
of such awards. If the Company elects not to renew the Browner Employment Agreement, then the Company must pay three months’ severance
and reimburse the first six months of the premiums associated with Mr. Browner’s continuation of health insurance for Mr. Browner
and his family pursuant to COBRA. If Mr. Browner is terminated in the event of death or disability, then the Company must approve immediate
vesting of any outstanding unvested equity awards granted to Mr. Browner during his employment and immediate lifting of all lockups and
restrictions on sales or exercise of such awards. In addition, if the Company does not renew the term of the Browner Employment Agreement
and Mr. Browner’s termination occurs within 90 days before or 12 months after a Change in Control (as defined by the Browner Employment
Agreement), then, provided that Mr. Browner signs the general release and waiver annexed to the Browner Employment Agreement within 60
days, the Company must pay the same severance amount as described above in the event of a termination for cause or resignation for good
reason; provide the same COBRA benefits as described above in the event of a termination for cause or resignation for good reason; and
approve the immediate vesting of all equity awards held by Mr. Browner unless expressly provided otherwise by the governing documents
for such awards. 

The Browner
Employment Agreement also contains general confidentiality and non-competition provisions. Mr. Browner’s stock option agreements
and restricted stock award agreements contain certain non-competition and non-solicitation provisions pursuant to the standard forms of
such agreements under the Plan.

62

Employment
Agreement with Andrew Stranberg

Under our employment agreement with our Executive
Chairman, Andrew Stranberg, dated July 13, 2021 and effective as of November 8, 2021 (the “Stranberg Employment Agreement”),
Mr. Stranberg will receive an annual salary of $500,000, and Mr. Stranberg will be eligible for an annual cash bonus as determined by
the board of directors. Pursuant to the Stranberg Employment Agreement, on November 12, 2021, we awarded Mr. Stranberg a stock