Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 92

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 92
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 to an
Employee who, at the time of grant, owns stock possessing more than 10% of the total combined voting power of all classes of stock of
the Company, or any parent or subsidiary corporation of the Company, as defined in section 424 of the Code, unless the Exercise Price
per share is not less than 110% of the Fair Market Value of a share of Common Stock on the date of grant.

(c) . The Committee shall determine the term of each Option. The term of any Option shall not exceed ten years from the date of grant.
However, an Incentive Stock Option that is granted to an Employee who, at the time of grant, owns stock possessing more than 10% of the
total combined voting power of all classes of stock of the Company, or any parent or subsidiary corporation of the Company, as defined
in section 424 of the Code, may not have a term that exceeds five years from the date of grant. Notwithstanding the foregoing, in the
event that on the last business day of the term of an Option (other than an Incentive Stock Option), the exercise of the Option is prohibited
by applicable law, including a prohibition on purchases or sales of Common Stock under the Company’s insider trading policy, the
term of the Option shall be extended for a period of 30 days following the end of the legal prohibition, unless the Committee determines
otherwise.

(d) . Subject to Section 3(b), Options shall become exercisable in accordance with such terms and conditions, consistent
with the Plan, as may be determined by the Committee and specified in the Award Agreement. Subject to the limitations set forth in Section 12,
the Committee may accelerate the exercisability of any or all outstanding Options at any time for any reason.

(e) . Notwithstanding the foregoing, Options granted to persons who are non-exempt employees under the Fair Labor
Standards Act of 1938, as amended, may not be exercisable for at least six months after the date of grant (except that such Options may
become exercisable, as determined by the Committee, upon the Participant’s death, Disability or retirement, or upon a Change in
Control or other circumstances permitted by applicable regulations).

(f) . Except as provided in the Award Agreement, an Option may only be exercised while the Participant is employed
by, or providing services to, the Employer. The Committee shall determine in the Award Agreement under what circumstances and during
what time periods a Participant may exercise an