Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 91

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 91
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 the event of
a Change in Control, the provisions of Section 12 of the Plan shall apply. Any adjustments to outstanding Awards shall be consistent
with section 409A or 424 of the Code, to the extent applicable. Subject to Section 17(b) below, the adjustments of Awards under
this Section 4(e) shall include adjustment of shares, Exercise Price of Stock Options, base amount of SARs, Performance Objectives
or other terms and conditions, as the Committee deems appropriate. The Committee shall have the sole discretion and authority to determine
what appropriate adjustments shall be made and any adjustments determined by the Committee shall be final, conclusive and binding.

Section 5. Eligibility for Participation

(a) . All Employees and Non-Employee Directors shall be eligible to participate in the Plan. Key Advisors shall be eligible to
participate in the Plan if the Key Advisors render bona fide services to the Employer, the services are not in connection with the offer
and sale of securities in a capital-raising transaction and the Key Advisors do not directly or indirectly promote or maintain a market
for the Company’s securities.

(b) . The Committee shall select the Employees, Non-Employee Directors and Key Advisors to receive Awards and shall determine
the number of shares of Common Stock subject to a particular Award in such manner as the Committee determines.

Section 6. Options

The Committee may grant Options to an Employee,
Non-Employee Director or Key Advisor upon such terms as the Committee deems appropriate. The following provisions are applicable to Options:

(a) . The Committee shall determine the number of shares of Common Stock that will be subject to each Award of Options to Employees,
Non-Employee Directors and Key Advisors.

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(b)
.

(i) The
Committee may grant Incentive Stock Options or Nonqualified Stock Options or any combination of the two, all in accordance with the terms
and conditions set forth herein. Incentive Stock Options may be granted only to employees of the Company or its parent or subsidiary
corporations, as defined in section 424 of the Code. Nonqualified Stock Options may be granted to Employees, Non-Employee Directors and
Key Advisors.

(ii) The
Exercise Price of Common Stock subject to an Option shall be determined by the Committee and shall be equal to or greater than the Fair
Market Value of a share of Common Stock on the date the Option is granted. However, an Incentive Stock Option may not be granted