Company: LRHC
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032211
Chunk: 1336

Company: La Rosa Holdings Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 3
Chunk 1336
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achieving the following milestones: (a) 900,000 shares, as of December 7, 2023 and vesting 100% on the date of grant; (b) 200,000
shares upon the closing of each acquisition after December 7, 2023; (c) 500,000 shares upon the Company achieving a first time total
market valuation of $100 Million; (d) 500,000 shares upon the Company achieving a first time total market valuation of $250 Million;
(e) 200,000 shares upon the Company achieving a positive EBITDA for the first time in any full calendar year; and (f) 500,000 shares
upon the Company achieving a positive EBITDA of $10 Million for the first time in any calendar year, and (g) for every $1,000,000
raised by the Company through financing, Mr. La Rosa shall be granted an equity award equal to 2% of the outstanding shares of
Common Stock, such award to be issued under the equity incentive plan of the Company and upon consummation of such financing. He is also
entitled to receive perquisites including a corporate automobile, cellular telephone, health and disability insurance and
participation in the Company’s 401(k) plan. Mr. La Rosa will be entitled to 40 days of annual vacation plus Company observed
holidays per calendar year and will be reimbursed for his business travel expenses. Any amounts payable under the employment
agreement are subject to any policy established by the Company providing for claw back or recovery of amounts that were paid to Mr.
La Rosa. The Company will make any determination for claw back or recovery in its sole discretion and in accordance with any
applicable law or regulation. 

64

Mr. La Rosa’s employment
may be terminated by him or the Company at any time and for any or no reason with least 90 days advance written notice from the terminating
party. If Mr. La Rosa’s employment is terminated by his failure to renew his agreement, by the Company for “cause” (as
defined in the agreement) or by Mr. La Rosa without “good reason” (as defined in the agreement), then he will be entitled
to receive: (i) any accrued but unpaid Base Salary and accrued but unused paid time off; (ii) reimbursement for unreimbursed business
expenses properly incurred; and (iii) such employee benefits (including equity compensation), if any, to which