Company: PTPI
Filing Date: 2025-03-14
Form Type: PRER14A
Source: 0001104659-25-024012
Chunk: 61

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-14
Form: PRER14A
Chunk 61
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 a wholly-owned subsidiary or to a holding company of which the Company 
 is a direct or indirect wholly owned subsidiary prior to such transaction;                   |

| · | the                                                                                                    
 consummation of a reorganization, merger or consolidation of the Company, other than a reorganization, 
 merger or consolidation which would result in the Company’s voting securities outstanding              
 immediately prior to the transaction continuing to represent (whether by remaining outstanding         
 or by being converted to voting securities of the surviving entity) 65% or more of the voting          
 securities or the voting power of the voting securities of such surviving entity outstanding           
 immediately after such transaction;                                                                    |

| · | the                                                               
 consummation of a plan for the Company’s complete liquidation; or |

| · | the                                                                                               
 following individuals cease for any reason to constitute a majority of the Board: individuals     
 who, as of the Effective Date, constituted the Board and any new director (other than a director  
 whose initial assumption of office is in connection with an actual or threatened election         
 contest, including, but not limited to, a consent solicitation relating to the election of        
 the Company’s directors) whose appointment or election by the Board or nomination for             
 election by the Company’s stockholders was approved and recommended by a vote of at               
 least two-thirds of the directors then still in office who either were directors on the Effective 
 Date or whose appointment, election or nomination for election was previously so approved         
 or recommended.                                                                                   |

Notwithstanding the above,
in the case of an award under the 2020 Plan is subject to Section 409A of the Code, only an event which constitutes a “change
in control event” as defined under Section 409A of the Code shall constitute a change in ownership or effective control for
purposes of the payment provisions under the 2020 Plan.

Deferrals

The committee may permit
or require participants to defer receipt of the payment of cash or the delivery of shares of Common Stock that would otherwise be due
to the participant in connection with an award under the 2020 Plan. The committee will establish the rules and procedures applicable
to any such deferrals, consistent with the requirements of Section 409A of the Code.

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Withholding

All awards under the 2020
Plan are subject to applicable U.S. federal (including Federal Insurance Contribution Act (“FICA”)), state and local, foreign,
or other tax withholding requirements. the Company may require participants or other persons receiving