Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1287

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1287
---
 JCA will provide services under the A&R Audibert Consulting Agreement as an independent contractor.
JCA and Mr. Audibert will not receive employee or executive benefits. JCA and Mr. Audibert will be solely responsible for any business-related
expenses.

On February
15, 2024, in connection with the Company’s fiscal year 2023 executive bonus determinations, the Compensation Committee certified
the attainment of the performance conditions under the A&R Audibert Consulting Agreement for the vesting of 2,339 shares of 46,511
shares of restricted stock initially granted to JCA on April 14, 2023. In accordance with the above, the initial grant of 46,511 shares
of restricted stock to JCA on April 14, 2023 was cancelled and 2,339 shares were issued to Mr. Audibert. In addition, the Compensation
Committee awarded discretionary bonuses of a cash bonus of $10,000 to JCA, the grant of an additional 2,661 shares of common stock to
Mr. Audibert, and the grant of an option to purchase 7,500 shares of common stock to Mr. Audibert at an exercise price of $1.55 per share.

Upon the
occurrence of a Change in Control (as defined by the A&R Audibert Consulting Agreement) during the A&R Audibert Consulting Agreement’s
term, whether or not JCA’s engagement is terminated, or upon JCA’s termination without cause, all restricted stock, stock
option, stock appreciation right or similar awards granted to or pending grant to and held by JCA will immediately vest and will no longer
be subject to forfeiture, unless expressly provided otherwise in the governing documents for such awards. Either the Company or JCA may
terminate the A&R Audibert Consulting Agreement for material breach and failure to cure such breach within 15 days of receipt of notice
by the non-breaching party. Both the Company and JCA may terminate the A&R Audibert Consulting Agreement without cause by giving at
least 30 days’ written notice. Termination under any provision of the A&R Audibert Consulting Agreement will generally result
in the Company’s obligation to provide accrued and unpaid or pending cash, equity or other compensation. If the Company or JCA terminates
the agreement without cause as provided under the A&R Audibert Consulting Agreement, and JCA and Mr. Audibert then deliver their signatures
to