Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 52

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 52
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 in accordance with the independence standards
established by the stock exchange on which the Company’s Common Stock is at the time primarily traded. The committee determines
the terms and conditions applicable to awards under the 2020 Plan, including, without limitation, who will receive awards and the number
of shares of Common Stock subject to awards. The committee may delegate authority under the 2020 Plan to one or more subcommittees as
it deems appropriate. Subject to compliance with applicable law and the applicable stock exchange rules, the Board, in its discretion,
may perform any action of the committee under the 2020 Plan. Subject to compliance with applicable law and applicable stock exchange
requirements, the committee (or the Board or a subcommittee, as applicable) may delegate all or part of its authority to the Company’s
Chief Executive Officer, as it deems appropriate, with respect to awards to employees, consultants, or advisors who are not executive
officers or directors under Section 16 of the Exchange Act. The committee, the Board, any subcommittee, or the Chief Executive Officer,
as applicable, that has authority with respect to a specific award will be referred to as “the committee” in this description
of the 2020 Plan.

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Shares Subject to the 2020 Plan

Subject to adjustment, the
maximum aggregate number of shares of Common Stock that may currently be issued or transferred under the 2020 Plan, with respect to awards
made on and after the Effective Date is 2,760,000 shares. If the Third Amendment is approved, the total number of shares of Common Stock
that may be issued pursuant to awards will be increased to an aggregate maximum total of 1,002,760,000 shares. In addition, the number
of shares of Common Stock subject to outstanding awards under the Prior Plans that terminate, expire, or are cancelled, forfeited, exchanged,
or surrendered without having been exercised, vested, or paid in shares under the Prior Plans, as applicable, after the Effective Date
will be available for issuance under the 2020 Plan.

If any options or stock appreciation
rights, including outstanding options granted under the Prior Plans, terminate, expire, or are canceled, forfeited, exchanged, or surrendered
without having been exercised, or if any stock awards, stock units, or other stock-based awards are forfeited, terminated, or otherwise
not paid in full, the shares of the Company’s Common Stock subject to such awards