Company: SWAGW
Filing Date: 2025-07-11
Form Type: DEF 14A
Source: 0001213900-25-062961
Chunk: 42

Company: Stran & Company, Inc.
Filing Date: 2025-07-11
Form: DEF 14A
Chunk 42
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 February 15, 2024, in connection with the Company’s fiscal year 2023 executive bonus determinations, the Compensation Committee certified the attainment of the performance conditions under the Browner Agreement for the award of a $26,250 cash bonus, the grant of 5,000 shares of common stock, and the vesting of the stock option granted to Mr. Browner on April 14, 2023 as to 7,500 shares of common stock.

Under the Browner Employment Agreement, Mr. Browner will also be eligible for additional bonus amounts as determined by the Board or the Compensation Committee within its sole discretion.On March 19, 2025, the Compensation Committee approved a discretionary cash bonus of $25,000 to Mr. Browner. The bonus compensation was in addition to any cash bonus or other compensation that Mr. Browner may be entitled to or eligible for under the Browner Employment Agreement.

Mr. Browner will receive unlimited paid time off and paid public holidays, standard executive benefits, standard directors and officers indemnification and insurance coverage, and business-related expense reimbursements.

The initial term of the Browner Employment Agreement ended on April 14, 2025 and automatically extended for an additional year. The Browner Employment Agreement will automatically extend for an additional year each year unless one party gives 60 days’ notice before the end of the then-current term, unless terminated earlier in accordance with its terms as described below.

Mr. Browner’s employment is terminable with cause upon certain grounds by written notice, subject to a 30-day notice and cure period with respect to certain of these grounds for termination for cause. Mr. Browner may be terminated without cause upon 30 days’ written notice. Mr. Browner may terminate employment with good reason upon certain grounds, subject to a 30-day notice and cure period with respect to certain of these grounds that must begin within 10 days of Mr. Browner’s knowledge of the initial existence of the grounds for termination for good reason. The effect of Mr. Browner’s termination of the Browner Employment Agreement without complying with the requirements to terminate with good reason will be equivalent to termination with cause. Termination under any provision of the Browner Employment Agreement will generally result in the Company’s obligation to provide accrued and unpaid or pending cash, equity or other compensation. If the Company terminates Mr. Browner without cause or he terminates for good reason, and provided that Mr. Browner signs the general release and waiver annexed to the Browner Employment