Company: PTPI
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021794
Chunk: 97

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 97
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 in cash or Common Stock as determined by the Committee,
in an amount equal to the amount, if any, by which the then Fair Market Value of the shares of Common Stock subject to the Participant’s
unexercised Stock Options and SARs exceeds the Stock Option Exercise Price or SAR base amount, and (iii) after giving Participants
an opportunity to exercise all of their outstanding Stock Options and SARs, the Committee may terminate any or all unexercised Stock
Options and SARs at such time as the Committee deems appropriate. Such surrender, termination or payment shall take place as of the date
of the Change in Control or such other date as the Committee may specify. Without limiting the foregoing, if the per share Fair Market
Value of the Common Stock does not exceed the per share Stock Option Exercise Price or SAR base amount, as applicable, the Company shall
not be required to make any payment to the Participant upon surrender of the Stock Option or SAR.

<div align='center'>C-10</div>

Section 13. Deferrals

The Committee may permit or require a Participant
to defer receipt of the payment of cash or the delivery of shares that would otherwise be due to such Participant in connection with
any Award. If any such deferral election is permitted or required, the Committee shall establish rules and procedures for such deferrals
and may provide for interest or other earnings to be paid on such deferrals. The rules and procedures for any such deferrals shall
be consistent with applicable requirements of section 409A of the Code.

Section 14. Withholding of Taxes

(a) . All Awards under the Plan shall be subject to applicable United States federal (including FICA), state and local, foreign
country or other tax withholding requirements. The Employer may require that the Participant or other person receiving Awards or exercising
Awards pay to the Employer an amount sufficient to satisfy such tax withholding requirements with respect to such Awards, or the Employer
may deduct from other wages and compensation paid by the Employer the amount of any withholding taxes due with respect to such Awards.

(b) . The Committee may permit or require the Employer’s tax withholding obligation with respect to Awards paid in Common
Stock to be satisfied by having shares withheld up to an amount that does not exceed the Participant’s applicable withholding tax
rate for United States federal (including FICA), state and local, foreign country or other tax liabilities. The Committee may, in its
discretion, and subject to such rules as the Committee may adopt, allow