Company: SXTPW
Filing Date: 2025-08-15
Form Type: PRE 14A
Source: 0001213900-25-077435
Chunk: 34

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-08-15
Form: PRE 14A
Chunk 34
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Contingent on the receipt of shareholder approval to increase the number of shares available under the 2022 Plan, Dr. Dow was granted
a five-year option to purchase a total of 250 shares of our common stock that vest on the last day of each quarter in each calendar year
(for a cumulative total or no more than 5,000 shares over five years). The per share exercise price of the option was initially equal
to the per share closing price of our common stock on the date of the initial public offering and shall have a cashless exercise provision.In
November 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.

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