Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 571

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1C
Chunk 571
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 exceeding 150% the annual net profit target, up to a maximum of 50,000 shares.

All equity
bonuses under the Browner Employment Agreement will be awarded under the Plan. The Plan provides that to the extent that equity bonuses
of grants of common stock are designated Performance Compensation Awards (as defined by the Plan) by the board or the Compensation Committee
and to the extent that each fiscal year constitutes a Performance Period (as defined by the Plan), pursuant to the Plan, such awards must
be granted as soon as administratively practicable following completion of the certification of the attainment of the performance conditions
for such awards but in no event later than 2 1/2 months following the end of the fiscal year during which the respective Performance
Period is completed. Otherwise, such grants will be considered Performance Shares (as defined by the Plan) and will be granted when certified
by the board or the Compensation Committee.

Under the
Browner Employment Agreement, Mr. Browner will also be eligible for additional bonus amounts as determined by the board or the Compensation
Committee within its sole discretion. Mr. Browner will receive unlimited paid time off and paid public holidays, standard executive benefits,
standard directors and officers indemnification and insurance coverage, and business-related expense reimbursements.

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 Browner Agreement for the award of a $26,250 cash bonus, the grant of 5,000 shares
of common stock, and the vesting of the stock option granted to Mr. Browner on April 14, 2023 as to 7,500 shares of common stock.

Mr. Browner’s
employment is terminable with cause upon certain grounds by written notice, subject to a 30-day notice and cure period with respect to
certain of these grounds for termination for cause. Mr. Browner may be terminated without cause upon 30 days’ written notice. Mr.
Browner may terminate employment with good reason upon certain grounds, subject to a 30-day notice and cure period with respect to certain
of these grounds that must begin within 10 days of Mr. Browner’s knowledge of the initial existence of the grounds for termination
for good reason. The effect of Mr. Browner’s termination of the Browner Employment Agreement without complying with the requirements
to terminate with good reason will be equivalent