Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 521

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 521
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and affairs are managed under the direction of our Board.

Directors serve until the next annual meeting
and until their successors are elected and qualified. Officers are appointed to serve until their successors have been elected and qualified.

Director Independence

Our Board is composed of a majority of “independent
directors” as defined under the rules of Nasdaq. We use the definition of “independence” applied by Nasdaq to
make this determination. Nasdaq Listing Rule 5605(a)(2) provides that an “independent director” is a person other
than an officer or employee of the company or any other individual having a relationship which, in the opinion of the Board, would interfere
with the exercise of independent judgment in carrying out the responsibilities of a director. The Nasdaq listing rules provide that a
director cannot be considered independent if:

●the
                                            director is, or at any time during the past three (3) years was, an employee of the company;

●the
                                            director or a family member of the director accepted any compensation from the company in
                                            excess of $120,000 during any period of twelve (12) consecutive months within the three (3)
                                            years preceding the independence determination (subject to certain exemptions, including,
                                            among other things, compensation for board or board committee service);

●the
                                            director or a family member of the director is a partner in, controlling shareholder of,
                                            or an executive officer of an entity to which the company made, or from which the company
                                            received, payments in the current or any of the past three fiscal years that exceed 5% of
                                            the recipient’s consolidated gross revenue for that year or $200,000, whichever is
                                            greater (subject to certain exemptions);

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●the
                                            director or a family member of the director is employed as an executive officer of an entity
                                            where, at any time during the past three (3) years, any of the executive officers of the
                                            company served on the compensation committee of such other entity; or

●the
                                            director or a family member of the director is a current partner of the company’s outside
                                            auditor, or at any time during the past three (3) years was a partner or employee of the
                                            company’s outside auditor, and who worked on the company’s audit.

Under such definitions, our Board has undertaken
a review of the independence of each director and director nominee. Based on information provided by each director concerning his or