Company: PTPI
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001104659-25-025104
Chunk: 96

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 96
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 granted either at the time the Option is granted or at any
time thereafter while the Option remains outstanding; provided, however, that, in the case of an Incentive Stock Option, SARs may be
granted only at the time of the grant of the Incentive Stock Option. The Committee shall establish the base amount of the SAR at the
time the SAR is granted. The base amount of each SAR shall be equal to or greater than the Fair Market Value of a share of Common Stock
as of the date of grant of the SAR. The term of any SAR shall not exceed ten years from the date of grant. Notwithstanding the foregoing,
in the event that on the last business day of the term of a SAR, the exercise of the SAR is prohibited by applicable law, including a
prohibition on purchases or sales of Common Stock under the Company’s insider trading policy, the term shall be extended for a
period of 30 days following the end of the legal prohibition, unless the Committee determines otherwise.

(b) . In the case of tandem SARs, the number of SARs granted to a Participant that shall be exercisable during a specified period
shall not exceed the number of shares of Common Stock that the Participant may purchase upon the exercise of the related Option during
such period. Upon the exercise of an Option, the SARs relating to the Common Stock covered by such Option shall terminate. Upon the exercise
of SARs, the related Option shall terminate to the extent of an equal number of shares of Common Stock.

(c) .
Subject to Section 3(b), an SAR shall be exercisable during the period specified by the Committee in the Award Agreement and shall
be subject to such vesting and other restrictions as may be specified in the Award Agreement. Subject to the limitations set forth in
Section 12, the Committee may accelerate the exercisability of any or all outstanding SARs at any time for any reason. SARs may
only be exercised while the Participant is employed by, or providing service to, the Employer or during the applicable period after termination
of employment or service as specified by the Committee. A tandem SAR shall be exercisable only during the period when the Option to which
it is related is also exercisable.

(d) . Notwithstanding the foregoing, SARs granted to persons who are non-exempt employees under the Fair Labor
Standards Act of 1938, as amended, may not be exercisable for at least six months after the date of grant (except that