Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 865

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 865
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 Employment Agreement, on, or at any time
during the 24 months following, the Change in Control, (i) we terminate Dr. Dow’s employment for any reason other than Cause or
Disability, as defined in the Dow Employment Agreement, or (ii) Dr. Dow terminates his employment for Good Reason, Dr. Dow will be entitled
to Change in Control severance.

Dr. Dow is subject to non-competition and non-solicitation
during the term of his employment and for a period of 24 months after termination of his employment.

Miller Employment Agreement.
We entered into an Employment Agreement dated as of January 12, 2023 with Tyrone Miller (the “Miller Employment
Agreement”), our Chief Financial Officer. The term of the Miller Employment Agreement began on January 12, 2023 and will
continue for a period of two years, with subsequent automatic renewals unless either party thereto provides notice to terminate at
least 90 days prior to the applicable renewal date. The Miller Employment Agreement provides Mr. Miller an annual base salary of
$204,000, bonuses to the extent certain events occur or if applicable performance goals are met and employee benefits that are
generally given to our senior executives. In December 2024, the Board approved an increase to Mr. Miller’s base salary to
$215,000 for fiscal year 2025. Contingent on the receipt of shareholder approval to increase the number of shares available under
the 2022 Plan, Mr. Miller was granted a five-year option to purchase a total of 200 shares of our common stock that vest on the last
day of each quarter in each calendar year (for a cumulative total or no more than 4,000 shares over five years). The per share
exercise price of the option was initially equal to the per share closing price of our common stock on the date of the initial
public offering and shall have a cashless exercise provision. In November 2023, the Board reset the exercise price of the option to be
equal to $60.00 and modified the vesting provisions of the option to vest annually over five years, rather than quarterly, with the
first vesting date being December 31, 2024. The initial grant and subsequent amendment of Mr. Miller’s options was contingent
upon the stockholders of the Company approving the amendment to the exercise price of the options and approving the amendment to the
2022 Plan to increase the number of shares available under the