Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2359

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 11
Chunk 2359
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 Wall will receive an initial annual base salary of $265,000 and
potential salary and annual bonus increases in future years based on the successful achievement of personal and business-related goals.
Mr. Wall will receive a monthly automobile and cellular phone allowance of up to $750. Mr. Wall also received a signing bonus of a stock
option to purchase 15,000 shares of common stock which vested immediately as to one-third and will vest as to each remaining third each
subsequent year subject to its terms and conditions. On January 29, 2024, Mr. Wall was awarded the option to purchase the shares at an
exercise price of $1.46 per share.

Mr. Wall
will receive an annual cash bonus based on three performance targets relating to the Company’s results of operations. The bonus
targets are weighted 10% to sales, 50% to gross profit, and 40% to net profit. The bonus will equal each bonus target’s weight percentage
multiplied by (i) 5% of base salary if 95% of the target is met, (ii) 20% of base salary if 100% of the target is met, (iii) 30% if 110%
of the target is met; or (iv) 40% if 120% of the target is met. The performance targets for 2024 were $87,500,000 sales, $26,250,000 gross
profit, and $1,312,500 net profit. The performance targets for fiscal year 2024 for purposes of the Wall Employment Agreement were determined
not to have been met in any respect. Mr. Wall may receive this cash bonus without the related target performance at the discretion of
the Chief Executive Officer upon approval of the Compensation Committee.

In addition,
Mr. Wall will receive an annual stock option bonus to purchase 100,000 shares each year with an exercise price equal to the stock price
at the time of issuance. The annual stock option bonus will vest based on the same annual performance targets set for the annual cash
bonus for that year, as follows: (i) If the sales target is met, the option will vest as to 15,000 shares; (ii) if the gross profit target
is met, the option will vest as to 15,000 shares; (iii) if the net profit target is met, the option will vest as to 15,000 shares; (iv)
if 125% of the net profit