Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 83

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 83
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 65% or more of the Voting Securities or the voting power
of the voting securities of such surviving entity outstanding immediately after such transaction; or

(iv)
the consummation of a plan of complete liquidation of the Company; or

(v) the
following individuals cease for any reason to constitute a majority of the Board: individuals who, as of the Effective Date, constitute
the Board and any new director (other than a director whose initial assumption of office is in connection with an actual or threatened
election contest, including, but not limited to, a consent solicitation relating to the election of directors of the Company) whose appointment
or election by the Board or nomination for election by the Company’s stockholders was approved and recommended by a vote of at
least two-thirds of the directors then still in office who either were directors on the Effective Date or whose appointment, election
or nomination for election was previously so approved or recommended.

Notwithstanding the foregoing, if an Award constitutes deferred compensation
subject to section 409A of the Code and the Award provides for payment upon a Change in Control, then, for purposes of such payment provisions,
no Change in Control shall be deemed to have occurred upon an event described in items (i) – (v)above unless
the event would also constitute a change in ownership or effective control of, or a change in the ownership of a substantial portion
of the assets of, the Company under section 409A of the Code.

(g) “”
shall mean the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.

(h) “”
shall mean the Compensation Committee of the Board or another committee appointed by the Board to administer the Plan. The Committee
shall also consist of directors who are “non-employee directors” as defined under Rule 16b-3 promulgated under the Exchange
Act and “independent directors,” as determined in accordance with the independence standards established by the stock exchange
on which the Common Stock is at the time primarily traded.

(i)
“” shall mean common stock of the Company.

(j)
“” shall mean Petros Pharmaceuticals, Inc. and shall include its successors.

(k) “”
or “” shall mean, unless otherwise set forth in the Award Agreement, a Participant’s becoming disabled
within the meaning of the Employer’s long-term disability plan applicable to the Participant, or, if there is no such plan, a physical
or mental condition that prevents the Participant from performing the essential functions of the