Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 2339

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 11
Chunk 2339
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 2023, the Board reset the exercise price of the option to be equal to $60.00
and modified the vesting provisions of the option to vest annually over five years, rather than quarterly, with the first vesting
date being December 31, 2024. The initial grant and subsequent amendment of Dr. Dow’s options was contingent upon the
stockholders of the Company approving the amendment to the exercise price of the options and approving the amendment to the 2022
Plan to increase the number of shares available under the 2022 Plan in order to comply with Listing Rule 5635(c) of The Nasdaq Stock
Market LLC. On July 16, 2024, the Company’s stockholders approved the proposal to increase the number of shares available
under the 2022 Plan. As of that date, Dr. Dow’s option grant, as subsequently amended, was considered effective.

68

We may terminate Dr. Dow’s employment for
Cause, as defined in the Dow Employment Agreement, at any time upon notice to Dr. Dow setting forth in reasonable detail the nature of
such Cause. We also may terminate Dr. Dow’s employment other than for Cause at any time upon thirty (30) days’ written notice
to him. Dr. Dow may terminate his employment for Good Reason, as defined in the Dow Employment Agreement, at any time upon thirty (30)
days’ written notice to us. In the event that Dr. Dow’s employment is terminated other than for Cause or for Good Reason,
Dr. Dow will be entitled to, among other things, a continuation of his annual salary plus health insurance benefits for a period not
exceeding 18 months. In addition, in the event of a Change in Control, as defined in the Dow Employment Agreement, on, or at any time
during the 24 months following, the Change in Control, (i) we terminate Dr. Dow’s employment for any reason other than Cause or
Disability, as defined in the Dow Employment Agreement, or (ii) Dr. Dow terminates his employment for Good Reason, Dr. Dow will be entitled
to Change in Control severance.

Dr. Dow is subject to non-competition and non-solicitation
during the term of his employment and for a period of 24 months after termination of his employment.

Miller Employment Agreement.
We entered into an Employment Agreement dated as of January 12, 2023 with Tyrone Miller (the “Miller Employment
Agreement”), our