Company: LRHC
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112656
Chunk: 67

Company: La Rosa Holdings Corp.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 67
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or debt financing to the Company but for the existence of any then outstanding shares of Series X Preferred Stock, the Company will, within
twenty-four (24) hours following receipt of such notice, redeem all remaining issued and outstanding shares of Series X Preferred Stock
for no additional consideration.

In addition, under the Redemption Agreement, Mr. La Rosa agreed,
subject to certain customary exceptions, not to sell, offer to sell, contract or agree to sell, pledge or otherwise dispose of, directly
or indirectly, any of his shares of the Series X Preferred Stock during the term of the Redemption Agreement, without the consent of the
Lead Buyer (as defined in the Purchase Agreement).

Amended Employment Agreement

On November 12, 2025, following the approval of the Board, the Company
and Mr. La Rosa, entered into an Amended and Restated Employment Agreement (the “Amended Employment Agreement”), which
amends and restates that certain Amended and Restated Employment Agreement between the Company and Mr. La Rosa, dated April 29, 2022,
as amended, in its entirety. 

Pursuant to the terms of the Amended Employment Agreement, the Company
will pay Mr. La Rosa an annual base salary of $500,000, which will be reviewed at least annually by the Board and increased (but not decreased)
upon such review. Mr. La Rosa will also be eligible to receive a bonus with respect to a calendar year on the terms and in the amount
as may be approved by the Compensation Committee of the Board (“Compensation Committee”) in its discretion.

The Amended Employment Agreement is for an initial term ending December
31, 2027, which term will be automatically extended, upon the same terms and conditions, for successive periods of one (1) year. The Amended
Employment Agreement may be terminated by Mr. La Rosa or the Company at any time and for any or no reason with at least 45 days advance
written notice from the terminating party. If Mr. La Rosa’s employment is terminated by the Company for “cause” (as
defined in the agreement), Mr. La Rosa will be entitled only to accrued and unpaid base salary through the date of termination.

If Mr. La Rosa’s employment is terminated by his failure to renew
his agreement, or by Mr. La Rosa without “good reason” (as defined in the Amended Employment Agreement), then he will be entitled
to receive: (i) a sum