Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 999

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 4
Chunk 999
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Mr. Stranberg is also subject to standard confidentiality
and noncompetition provisions, and Mr. Stranberg’s stock option agreement contains certain non-competition and non-solicitation
provisions pursuant to the standard form of such agreement under the Plan.

Previous Consulting Agreement with John
Audibert and Josselin Capital Advisors, Inc.

Under the Consulting Agreement among John Audibert,
JCA, which is Mr. Audibert’s his wholly-owned company, and the Company, dated December 2, 2021 (the “Audibert Consulting Agreement”),
which was in effect from December 2, 2021 until April 14, 2023, we agreed that, for a 27-month term, unless terminated earlier in accordance
with its terms, we will receive the services of JCA and pay or grant JCA the compensation described below, and Mr. Audibert would continue
to serve as our Vice President of Growth and Strategic Initiatives. We agreed to pay JCA a signing fee of $30,000, an annual fee of $100,000
and a monthly automobile bonus of $750. We agreed to grant JCA base restricted stock bonuses as follows: (i) 20,000 restricted shares
of common stock, granted as of the agreement date, which vested on the three-month anniversary of the date of grant; (ii) 20,000 additional
fully-vested shares of common stock to be granted on the six-month anniversary of the agreement date; and (iii) 20,000 additional fully-vested
shares of common stock to be granted on the twelve-month anniversary of the agreement date. Due to an administrative oversight, we did
not grant the 20,000 shares required to be granted to JCA on each of the six-month and twelve-month anniversaries of the agreement date
as provided under the Audibert Consulting Agreement. JCA agreed to receive these grants in 2023. On April 14, 2023, the Compensation Committee
approved the grants.

63

We also agreed to equity grants to JCA consisting
of (i) the grant of an option which may be exercised to purchase 65,000 shares of common stock at the exercise price per share of $3.90
which will vest based on the attainment of the option’s performance conditions, and (ii) fully-vested restricted stock to be granted
upon attainment of the same performance conditions, as follows: (a)