Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2527

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 13
Chunk 2527
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ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.

Transactions with Related Persons

The following includes a summary of transactions
since the beginning of our 2023 fiscal year, or any currently proposed transaction, in which we were or are to be a participant and the
amount involved exceeded or exceeds the lesser of $120,000 or 1% of the average of our total assets at year-end for the last two completed
fiscal years, and in which any related person had or will have a direct or indirect material interest (other than compensation described
under Item 11. “Executive Compensation” above). We believe the terms obtained or consideration that we paid or received,
as applicable, in connection with the transactions described below were comparable to terms available or the amounts that would be paid
or received, as applicable, in arm’s-length transactions.

Transactions with Non-Employee Director
Affiliates

Transaction with Innovative Genetics (Alejandro
Tani)

Alejandro Tani, a member of our board of directors,
the chairman of the Company’s Nominating and Corporate Governance Committee, and a member of the Compensation Committee and the
Company’s Audit Committee, is the Chief Executive Officer, Chief Information Officer, and majority owner of Innovative Genetics.
Under a Branded Packaging Agreement between Innovative Genetics and the Company, dated as of March 6, 2023 (the “Innovative Genetics
Packaging Agreement”), Innovative Genetics granted the Company a limited, non-exclusive, revocable license to use Innovative Genetics’
logos, trade names and trademarks on apparel and promotional products as branded products for sale to Innovative Genetics and Innovative
Genetics-authorized persons. The branded products must meet Innovative Genetics’ quality standards. Innovative Genetics will pay
the Company within 90 days after the date of an invoice under the agreement, subject to the Company’s credit policies and procedures
and discretionary right to modify payment or credit. Each statement of work under the Innovative Genetics Packaging Agreement must have
a personal guaranty stating that Innovative Genetics’ principal will pay any invoices related to that statement of work regardless
of financial stability of Innovative Genetics. All products and services provided to Innovative Genetics and any services that Innovative
Genetics may provide to the Company in exchange for such products and services under the Innovative Genetics Packaging Agreement will
be based on a commercial relationship and any such services will include only non-advisory services. The Innovative Genetics Packaging
Agreement does not contemplate any accounting, consulting