Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 100

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 100
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 other tax liabilities. The Committee may, in its
discretion, and subject to such rules as the Committee may adopt, allow Participants to elect to have such share withholding applied
to all or a portion of the tax withholding obligation arising in connection with any particular Award. Unless the Committee determines
otherwise, share withholding for taxes shall not exceed the Participant’s minimum applicable tax withholding amount.

Section 15. Transferability of Awards

(a) . Except as described in subsection (b) below, only the Participant may exercise rights under an Award during the Participant’s
lifetime. A Participant may not transfer those rights except (i) by will or by the laws of descent and distribution or (ii) with
respect to Awards other than Incentive Stock Options, pursuant to a domestic relations order. When a Participant dies, the personal representative
or other person entitled to succeed to the rights of the Participant may exercise such rights. Any such successor must furnish proof
satisfactory to the Company of his or her right to receive the Award under the Participant’s will or under the applicable laws
of descent and distribution.

(b) . Notwithstanding the foregoing, the Committee may provide, in an Award Agreement, that a Participant
may transfer Nonqualified Stock Options to family members, or one or more trusts or other entities for the benefit of or owned by family
members, consistent with the applicable securities laws, according to such terms as the Committee may determine; provided that the Participant
receives no consideration for the transfer of an Option and the transferred Option shall continue to be subject to the same terms and
conditions as were applicable to the Option immediately before the transfer.

Section 16. Requirements for Issuance or Transfer of Shares

No Common Stock shall be issued or transferred
in connection with any Award hereunder unless and until all legal requirements applicable to the issuance or transfer of such Common
Stock have been complied with to the satisfaction of the Committee. The Committee shall have the right to condition any Award on the
Participant’s undertaking in writing to comply with such restrictions on his or her subsequent disposition of the shares of Common
Stock as the Committee shall deem necessary or advisable, and certificates representing such shares may be legended to reflect any such
restrictions. Certificates representing shares of Common Stock issued or transferred under the Plan may be subject to such stop-transfer
orders and other restrictions as the Committee deems appropriate to comply with applicable laws, regulations and interpretations, including
any requirement that a legend be placed thereon.

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