Company: PTPI
Filing Date: 2025-03-14
Form Type: PRER14A
Source: 0001104659-25-024012
Chunk: 81

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-14
Form: PRER14A
Chunk 81
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. Outstanding grants under the Prior Plans shall continue in effect according to their terms, and the shares
with respect to outstanding grants under the Prior Plans shall be issued or transferred in accordance with the terms of the Prior Plans.

The Plan is effective as of the Effective Date.
Awards granted prior to the Effective Date shall continue to be governed by the applicable Award Agreements and the terms of the Prior
Plans, and the Committee shall administer such Awards in accordance with the Prior Plans.

The Company believes that the Plan will encourage
the participants to contribute materially to the growth of the Company, thereby benefitting the Company’s stockholders, and will
align the economic interests of the participants with those of the stockholders.

Section 1. Definitions

The following terms shall have the meanings set forth below
for purposes of the Plan:

(a) “”
shall mean an Option, SAR, Stock Award, Stock Unit or Other Stock-Based Award granted under the Plan.

(b) “” shall mean the written agreement that sets forth the terms and conditions of an Award, including all amendments
thereto.

(c)
“” shall mean the Board of Directors of the Company.

(d) “”
shall have the meaning given to that term in any written employment agreement, offer letter, consulting agreement or severance agreement
between the Employer and the Participant, or if no such agreement exists or if such term is not defined therein, and unless otherwise
defined in the Award Agreement, “” shall mean a finding by the Committee of conduct involving one or more of
the following: (i) the substantial and continuing failure of the Participant, after notice thereof, to render services to the Company
or its subsidiaries in accordance with the terms or requirements of his or her employment, engagement as a Non- Employee Director or
a Key Advisor; (ii) disloyalty, gross negligence, willful misconduct, dishonesty or breach of fiduciary duty to the Company or a
Subsidiary; (iii) the commission of an act of embezzlement or fraud; (iv) deliberate disregard of the rules or policies
of the Company or a Subsidiary which results in direct or indirect loss, damage or injury to the Company or a Subsidiary; (v) the
unauthorized disclosure of any trade secret or confidential information of the Company or a Subsidiary; or (vi) the Participant’s
breach of any written non-competition, non- solicitation, invention assignment or confidentiality agreement between the Participant and