Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 201

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 201
---
 administrator
are achieved or the awards otherwise vest. The administrator will set objectives or vesting provisions, that, depending on the extent
to which they are met, will determine the value of the payout for the performance awards. The administrator may set vesting criteria
based on the achievement of Company-wide, divisional, business unit, or individual goals (including, but not limited to, continued employment
or service), or any other basis determined by the administrator in its discretion. Each performance award’s threshold, target,
and maximum payout values are established by the administrator on or before the grant date. After the grant of a performance award, the
administrator, in its sole discretion, may reduce or waive any performance objectives or other vesting provisions for such performance
award. The administrator, in its sole discretion, may pay earned performance awards in the form of cash, in shares, or in some combination
thereof.

Non-transferability of Awards

Unless the administrator provides otherwise,
the 2022 Plan generally does not allow for the transfer of awards other than by will or by the laws of descent and distribution and only
the recipient of an award may exercise an award during their lifetime. If the administrator makes an award transferrable, such award
will contain such additional terms and conditions as the administrator deems appropriate.

72

Certain Adjustments

In the event of certain changes in our capitalization,
to prevent diminution or enlargement of the benefits or potential benefits available under the 2022 Plan, the administrator will adjust
the number and class of shares that may be delivered under the 2022 Plan or the number, and price of shares covered by each outstanding
award and the numerical share limits set forth in the 2022 Plan.

Dissolution or Liquidation

In the event of our proposed liquidation or dissolution,
the administrator will notify participants as soon as practicable and all awards will terminate immediately prior to the consummation
of such proposed transaction.

Merger or Change in Control

The 2022 Plan provides that in the event of our
merger with or into another corporation or entity or a “change in control” (as defined in the 2022 Plan), each outstanding
award will be treated as the administrator determines, including, without limitation, that (i) awards will be assumed, or substantially
equivalent awards will be substituted, by the acquiring or succeeding corporation (or an affiliate thereof) with appropriate adjustments
as to the number and kind of shares and prices; (ii) upon written