Company: PTPI
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021794
Chunk: 57

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 57
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 Control

If the Company experiences
a “change in control” (as defined in the 2020 Plan, which definition is generally described below) where the Company is not
the surviving corporation (or survive only as a subsidiary of another corporation), all outstanding awards that are not exercised or
paid at the time of the change in control will be assumed by, or replaced with awards that have comparable terms by, the surviving corporation
(or a parent or subsidiary of the surviving corporation). In the event that the surviving corporation (or a parent or subsidiary of the
surviving corporation) does not assume or replace awards with grants that have comparable terms, unless otherwise provided in an award
agreement, outstanding options and stock appreciation rights will accelerate and become fully exercisable and the restrictions and conditions
on outstanding stock awards, stock units, other stock-based awards and dividend equivalents immediately lapse, provided that if
the vesting of any such awards is based, in whole or in part, on performance, such awards shall vest based on the greater of (i) actual
performance as of the change in control, or (ii) target performance, pro-rated based on the period elapsed between the beginning
of the applicable performance period and the date of the change in control. At the committee’s discretion, if awards are assumed
by, or replaced with awards that have comparable terms by, the surviving corporation (or a parent or subsidiary of the surviving corporation)
and a participant incurs an involuntary termination of employment or service on or after a change in control, the participant’s
outstanding awards may become vested, in whole or in part, as of the date of termination; provided that if the vesting of any such award
is based, in whole or in part, on performance, such awards shall vest only based on the greater of (i) actual performance as of
the change in control, or (ii) target performance, pro-rated based on the period elapsed between the beginning of the applicable
performance period and the date of the termination.

If there is a change in
control and any outstanding awards are not assumed by, or replaced with awards that have comparable terms by, the surviving corporation,
the committee may take any of the following action without the consent of any participant:

| · | pay                                                                                           
 participants, in an amount and form determined by the committee, in settlement of outstanding 
 stock units, other stock-based awards, or dividend equivalents;                               |

| · | require                                                                                     
 that participants surrender their outstanding stock options, stock appreciation