Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 60

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 60
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 or dividend equivalents;                               |

| · | require                                                                                     
 that participants surrender their outstanding stock options, stock appreciation rights, or  
 any other exercisable award, in exchange for a payment by the Company, in cash or shares    
 of the Company’s Common Stock, equal to the difference between the exercise price and       
 the fair market value of the underlying shares of Common Stock; provided, however, if the   
 per share fair market value of the Common Stock does not exceed the per share stock option  
 exercise price or stock appreciation right base amount, as applicable, the Company will not 
 be required to make any payment to the participant upon surrender of the stock option or    
 stock appreciation right; or                                                                |

<div align='center'>36</div>

| · | after                                                                                     
 giving participants an opportunity to exercise all of their outstanding stock options and 
 stock appreciation rights, terminate any unexercised stock options and stock appreciation 
 rights on the date determined by the committee.                                           |

In general terms, a “change in control”
under the 2020 Plan includes:

| · | the                                                                                               
 acquisition, directly or indirectly, by a person of more than 50% of the combined voting          
 power of the Company’s voting securities entitled to vote generally in the election               
 of directors; provided, however, that the following acquisitions of voting securities shall       
 not constitute a change in control: (i) any acquisition by or from the Company or any             
 of its subsidiaries, or by any employee benefit plan (or related trust) sponsored or maintained   
 by the Company or any of its subsidiaries, (ii) any acquisition by any underwriter in             
 any firm commitment underwriting of securities to be issued by the Company, or (iii) any          
 acquisition by any corporation (or other entity) if, immediately following such acquisition,      
 50% or more of the then outstanding shares of Common Stock (or other equity unit) of such         
 corporation (or other entity) and the combined voting power of the then outstanding voting        
 securities of such corporation (or other entity), are beneficially owned, directly or indirectly, 
 by all or substantially all of the individuals or entities who, immediately prior to such         
 acquisition, were the beneficial owners of the Company’s then outstanding shares of               
 Common Stock and the voting securities in substantially the same proportions, respectively,       
 as their ownership immediately prior to the acquisition of the Company’s stock and                
 voting securities;                                                                                |

| · | the                                                                                          
 consummation of the sale or other disposition of all or substantially