Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1656

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 8
Chunk 1656
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 (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 option
for the purchase of 400,000 shares of the Company’s common stock at an exercise price of $4.15 per share under a standard form of
stock option agreement under the Plan. The stock option will vest over a four-year period with 25% of the option vesting on the first
anniversary of the date of grant and the balance of the option (75%) vests monthly over the following three years after the first anniversary
of the date of grant at a rate of 1/36 per month.

Mr. Stranberg will be provided with standard executive
benefits. The Company will also provide standard indemnification and directors’ and officers’ insurance.

The initial term of the Stranberg Employment Agreement
commenced on November 8, 2021 and ended on November 8, 2024. The Stranberg Employment Agreement automatically renewed for an additional
one-year term at the end of the initial term, and will renew for an additional one-year term at the end of the current and