Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1289

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1289
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 the discretion of
the Chief Executive Officer upon approval of the Compensation Committee.

In addition,
Mr. Wall will receive an annual stock option bonus to purchase 100,000 shares each year with an exercise price equal to the stock price
at the time of issuance. The annual stock option bonus will vest based on the same annual performance targets set for the annual cash
bonus for that year, as follows: (i) If the sales target is met, the option will vest as to 15,000 shares; (ii) if the gross profit target
is met, the option will vest as to 15,000 shares; (iii) if the net profit target is met, the option will vest as to 15,000 shares; (iv)
if 125% of the net profit target is met, the option will vest as to 25,000 shares; and (v) if 150% of the net profit target is met, the
option will vest as to 30,000 shares.

All equity
bonuses under the Wall Employment Agreement will be awarded under the Plan. The Plan provides that to the extent that equity bonuses of
grants of common stock are designated Performance Compensation Awards (as defined by the Plan) by the board or the Compensation Committee
and to the extent that each fiscal year constitutes a Performance Period (as defined by the Plan), pursuant to the Plan, such awards must
be granted as soon as administratively practicable following completion of the certification of the attainment of the performance conditions
for such awards but in no event later than 2 1/2 months following the end of the fiscal year during which the respective Performance
Period is completed. Otherwise, such grants will be considered Performance Shares (as defined by the Plan) and will be granted when certified
by the board or the Compensation Committee.

Mr. Wall
is entitled to severance benefits equal to four months’ salary if terminated without Cause (as defined in the Wall Employment Agreement)
during the first year of employment and two months’ salary if terminated during the second year of employment. Mr. Wall will be
offered certain health care, dental, life insurance, disability, and retirement benefits. Mr. Wall will receive unlimited vacation days
encompassing vacation, personal and sick days, subject to two weeks’ notice and approval whenever possible.

After the
first year of employment, all cash and equity bonus compensation goals and bonus figures will be reviewed. Benchmarks and bonus percentages
will be adjusted each year based on