Company: PTPI
Filing Date: 2025-03-14
Form Type: PRER14A
Source: 0001104659-25-024012
Chunk: 63

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-14
Form: PRER14A
Chunk 63
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, that is less than the exercise price or base price
of the original options or stock appreciation rights, or (iii) cancel outstanding options or stock appreciation rights with an exercise
price or base price, as applicable, above the current stock price in exchange for cash or other securities. However, such stockholder
approval is not required in connection with certain corporate transactions or other actions with respect to the Company’s securities,
such as a stock split, extraordinary cash dividend, recapitalization, change in control, reorganization, merger, consolidation, split-up,
spin-off, combination, repurchase, or exchange of shares of the Company’s Common Stock.

Establishment of Sub-Plans

The Board may, from time
to time, establish one or more sub-plans under the 2020 Plan to satisfy applicable blue sky, securities, or tax laws of various jurisdictions.
The Board may establish such sub-plans by adopting supplements to the 2020 Plan setting forth limitations on the committee’s discretion
and such additional terms and conditions not otherwise inconsistent with the 2020 Plan as the Board will deem necessary or desirable.
All such supplements will be deemed part of the 2020 Plan, but each supplement will only apply to participants within the affected jurisdiction.

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Clawback

Subject to applicable law,
the committee may provide in any award agreement that if a participant breaches any restrictive covenant agreement between the participant
and the Company, or otherwise engages in activities that constitute cause either while employed by, or providing services to, the Company
or within the applicable period of time thereafter, all awards held by the participant will terminate, and the Company may rescind any
exercise of an option or stock appreciation right and the vesting of any other award and delivery of shares upon such exercise or vesting,
as applicable on such terms as the committee will determine, including the right to require that in the event of any rescission:

| · | the                                                                                               
 participant must return the shares received upon the exercise of any option or stock appreciation 
 right or the vesting and payment of any other awards; or                                          |

| · | if                                                                                             
 the participant no longer owns the shares, the participant must pay to the Company the amount  
 of any gain realized or payment received as a result of any sale or other disposition of       
 the shares (if the participant transferred the shares by gift or without consideration, then   
 the fair market value of the shares on the date of the breach of the restrictive covenant      
 agreement or activity