Company: LRHC
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112656
Chunk: 199

Company: La Rosa Holdings Corp.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 199
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 quarters and certain other
four-quarter requirements set forth therein. Mr. La Rosa’s remaining shares of Series X Preferred Stock will be redeemed by the
Company at a subsequent time determined by the Company’s Board of Directors (the “Board”) or otherwise as set forth
in the Redemption Agreement as described below, in each case for no additional consideration. These redemptions of the Series X Preferred
Stock are conditioned upon stockholders’ approval and effectiveness of the Certificate of Amendment (as defined below).

37

La
Rosa Holdings Corp. and Subsidiaries
Notes to the Unaudited Condensed Consolidated Financial Statements

The parties also agreed that in the event that the Company receives
any notice from a prospective investor (including the Investors) that such prospective investor would provide, or commit to provide, equity
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, 202