Company: PTPI
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021794
Chunk: 95

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 95
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 or upon a Change in
Control or other circumstances permitted by applicable regulations).

(e) . When a Participant exercises SARs, the Participant shall receive in settlement of such SARs an amount equal to the value
of the stock appreciation for the number of SARs exercised. The stock appreciation for an SAR is the amount by which the Fair Market
Value of the underlying Common Stock on the date of exercise of the SAR exceeds the base amount of the SAR as described in subsection
(a).

(f) . The appreciation in an SAR shall be paid in shares of Common Stock, cash or any combination of the foregoing, as the Committee
shall determine. For purposes of calculating the number of shares of Common Stock to be received, shares of Common Stock shall be valued
at their Fair Market Value on the date of exercise of the SAR.

<div align='center'>C-9</div>

Section 10. Other Stock-Based Awards

The Committee may grant Other Stock-Based Awards,
which are awards (other than those described in Sections 6, 7, 8 and 9 of the Plan) that are based on or measured by Common Stock, to
any Employee, Non- Employee Director or Key Advisor, on such terms and conditions as the Committee shall determine. Subject to Section 3(b),
Other Stock-Based Awards may be awarded subject to the achievement of Performance Objectives or other criteria or other conditions and
may be payable in cash, Common Stock or any combination of the foregoing, as the Committee shall determine.

Section 11. Dividend Equivalents

The Committee may grant Dividend Equivalents in
connection with Stock Units or Other Stock-Based Awards. Subject to Section 3(b), Dividend Equivalents may be payable in cash or
shares of Common Stock, and upon such terms and conditions as the Committee shall determine; provided that Dividend Equivalents shall
vest and be paid only if and to the extent the underlying Stock Units or Other Stock-Based Awards vest and are paid. For the avoidance
of doubt, no dividends or Dividend Equivalents will be granted in connection with Stock Options or SARs.

Section 12. Consequences of a Change in Control

(a) . Upon a Change in Control where the Company is not the surviving corporation (or survives only as a subsidiary
of another corporation), all outstanding Awards that are not exercised or paid at the time of the Change in Control shall be assumed
by, or replaced with grants that have comparable terms by, the surviving corporation (or a parent