Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1158

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 5
Chunk 1158
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 dividends, with or without interest, and distribute such credited amounts upon settlement of a Restricted Stock
Unit, and if the Restricted Stock Unit is forfeited, such dividend equivalents will also be forfeited.

Performance Share Awards and Performance
Compensation Awards.    The administrator may grant Performance Share Awards and Performance Compensation
Awards. A Performance Share Award means the grant of a right to receive a number of actual shares of common stock or share units based
upon the performance of the Company during a performance period, as determined by the administrator. The administrator may determine the
number of shares subject to the Performance Share Award, the performance period, the conditions to be satisfied to earn an award, and
the other terms, conditions and restrictions of the award. No payout of a Performance Share Award will be made except upon written certification
by the administrator that the minimum threshold performance goal(s) have been achieved.

The administrator may also designate any of the
other awards described above as a Performance Compensation Award (other than stock options and SARs granted with an exercise price equal
to or greater than the fair market value per share of common stock on the grant date). In addition, the administrator shall have the authority
to make an award of a cash bonus to any participant and designate such award as a Performance Compensation Award. The participant must
be employed by the Company on the last day of the performance period to be eligible for payment in respect of a Performance Compensation
Award unless otherwise provided in the applicable award agreement. A Performance Compensation Award will be paid only to the extent that
the administrator certifies in writing whether and the extent to which the applicable performance goals for the performance period have
been achieved and the applicable performance formula determines that the Performance Compensation Award has been earned. A performance
formula means, for a performance period, the one or more objective formulas applied against the relevant performance goal to determine,
with regard to the Performance Compensation Award of a particular participant, whether all, some portion but less than all, or none of
the Performance Compensation Award has been earned for the performance period. The administrator will not have the discretion to grant
or provide payment in respect of a Performance Compensation Award for a performance period if the performance goals for such performance
period have not been attained.

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The administrator will establish performance goals
for each Performance Compensation Award based upon the performance criteria that it has selected. The performance criteria shall be based
on the attainment of specific levels of performance of the Company and may include the following: (a) net earnings or net income