Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1433

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 7
Chunk 1433
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pre-approved reasonable business-related expenses incurred in good faith in connection with the performance of the non-employee director’s
duties for us.

Indemnification Agreements and Directors and
Officers Liability Insurance

We have entered into a standard indemnification agreement with each of our officers and directors. The full text of the form of indemnification
agreement is filed with this Annual Report on Form 10-K as Exhibit 10.11.

We have also obtained standard policies of insurance
under which coverage is provided (a) to our directors and officers against loss rising from claims made by reason of breach of duty or
other wrongful act, and (b) to us with respect to payments which we may make to such officers and directors pursuant to the indemnification
agreements referred to above, our Articles of Incorporation and amended and restated bylaws, or otherwise as a matter of law.

Amended and Restated 2021 Equity Incentive
Plan

On September 14, 2021, we established the Stran
& Company, Inc. Amended and Restated 2021 Equity Incentive Plan. The purpose of the Plan is to grant restricted stock, stock options
and other forms of incentive compensation to our officers, employees, directors and consultants. The maximum number of shares of common
stock that may be issued pursuant to awards granted under the Plan is 3,000,000 shares. Cancelled and forfeited stock options and stock
awards may again become available for grant under the Plan. As of December 31, 2024, 1,077,205 shares remained available for issuance
under the Plan, including shares not otherwise reserved for outstanding stock options issued under the Plan.

Summary of Principal Features of the Plan

Awards that may be granted under the Plan include:
(a) Incentive Stock Options, (b) Non-qualified Stock Options, (c) Stock Appreciation Rights, (d) Restricted Awards, (e) Performance Share
Awards, and (f) Performance Compensation Awards, each as defined by the Plan. These awards offer our officers, employees, consultants
and directors the possibility of future value, depending on the long-term price appreciation of our common stock and the award holder’s
continuing service with the Company.

Stock options give the option holder the right
to acquire from us a designated number of shares of common stock at a purchase price that is fixed upon the grant of the option. The exercise
price generally will not be