Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 1794

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1794
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 unvested equity awards will be forfeited.

74

Third Amended Agent
Plan

On February 4, 2025, the Compensation
Committee, our Board of Directors, and the Majority Stockholders approved the Third Amended and Restated La Rosa Holdings 2022 Agent Incentive
Plan (“Third Amended Agent Plan”), which became effective on March 28, 2025. 

The purpose of adoption of
the Third Amended Agent Plan was to revise the vesting terms of the grants under Agent Equity Program and to add new terms allowing the
participants to authorize the Company to set aside 5% of their agent net commissions on transactions in their name to purchase shares
of the Common Stock at a 20% discount from the prior 30 day volume weighted average closing price of the Common Stock on Nasdaq.

The Third Amended Agent Plan
replaced the Second Amended Agent Plan in its entirety.

Pursuant to the Third Amended
Agent Plan, all participation in the plan is voluntary and no agent or broker will be penalized for not participating in the plan. The
Company may sell, and may, in the Compensation Committee’s absolute discretion, grant, shares of the Company’s Common Stock
or restricted stock units (the “RSUs”) to all agents and brokers in good standing with the Company, including each of the
Company’s majority owned subsidiaries (the “Majority Subsidiaries”), who are defined as “consultants” under
the Company’s 2022 Equity Incentive Plan (“Participants”) as a part of their, or as additional, compensation.

All agents and brokers in
good standing with the Company and each of the Company’s Majority Subsidiaries (as described in that certain independent contractor
agreement signed by such agent and the Company or its Majority Subsidiary) are eligible to participate in the Third Amended Agent Plan
unless they are licensed brokers, holding an equity interest in brokerage businesses, in which the Company also holds an equity interest.
In addition, employees or independent contractors hired by the Company as team leaders whose job description specifically includes recruitment
functions are precluded from participating in the recruiting portion of the Agent Equity Program of the plan. Only individuals who provide
their social security number to the Company’s Stock Plan Administrator software are eligible. No business entities can participate
in the Third Amended Agent Plan.

The Third Amended Agent Plan
has three components:

    (1)
    Agent Equity Program. The Company