Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 875

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 875
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proceeds paid or provided upon disposition of the shares issued under the award in order to comply with such clawback policy or applicable
laws.

73

Amendment and Termination

The administrator has the authority to amend,
suspend or terminate the 2022 Plan provided such action does not impair the existing rights of any participant. The 2022 Plan automatically
will terminate on November 22, 2032, unless it is terminated sooner.

Non-Employee Director Remuneration Policy

Our Board has not adopted a non-employee director
remuneration policy.

Clawback Policy

On November 23, 2023, our Board adopted an executive
compensation recoupment policy consistent with the requirements of the Exchange Act Rule 10D-1 and the Nasdaq listing standards thereunder,
to help ensure that incentive compensation is paid based on accurate financial and operating data, and the correct calculation of performance
against incentive targets. Our policy addresses recoupment of amounts from performance-based awards paid to all corporate officers, including
awards under our equity incentive plans, in the event of a financial restatement to the extent that the payout for such awards would
have been less, or in the event of fraud, or intentional, willful or gross misconduct that contributed to the need for a financial restatement.

Board Compensation

In November and December 2022, we signed agreements
with four directors (Cheryl Xu, Paul Field, Charles Allen and Stephen Toovey). Each director receives cash compensation of $11,250 per
quarter. In addition, the two non-audit committee chairs (Mr. Toovey and Mr. Field) receive $1,250 per quarter and the audit committee
chair (Mr. Allen) receives an additional $2,000 per quarter. On July 11, 2023, each director received (i) a one-off issuance of 167 shares
of common stock, (ii) a fully vested, non-qualified option to purchase 158 shares of common stock at a per share exercise price of $318.00,
and (iii) 67 restricted stock units vesting in two even quarterly tranches on September 30, 2023 and December 31, 2023. Contingent on
the receipt of shareholder approval to increase the number of shares authorized under the 2022 Plan, each director was entitled to receive
126 additional non-qualified options at a per share exercise price of $318.00, vesting 100%