Document:

Exhibit 10.1

 

BONUS AGREEMENT

 

This Bonus Agreement
(this “Agreement”) is made and entered into as of December 11, 2020, by and between Petros Pharmaceuticals, Inc. (“Petros”)
and Fady Boctor (“Employee”).

 

WHEREAS, the Company
has determined that it is appropriate to award a bonus to Employee, whose continued service is important to the welfare of the
Company.

 

NOW, THEREFORE, the
parties hereto, intending to be legally bound, hereby agree as follows:

 

1.                  
Bonus. In connection with Employee’s commencement of employment as Petros’ President and Chief Operating
Officer, the Company awarded you a bonus in the amount of $125,000 (the “Bonus”), payable as soon as practicable following
the closing of the merger of Petros, Neurtrope, Inc., Metuchen Pharmaceuticals LLC; provided that in the event that Employee does
not remain employment with Petros on the 18th month anniversary of such date, Employee shall be obligated to repay such amount
to Petros (unless Employee’s employment is terminated by Petros without “Cause” or by Employee for “Good
Reason”). For purposes of this Agreement,

  

(a)       “Cause”
means the determination by the Board of Directors of Petros that any of the following actions by Employee have occurred: (i) any
act by Employee in Petros’ reasonable good faith judgement constituting a felony (or its equivalent in any non-US jurisdiction),
or otherwise involving theft, moral turpitude, dishonesty, or material misrepresentation involving Petros; (ii) conviction of,
or plea of nolo contendere (or a similar plea), to, or the failure of Employee to contest his prosecution for any other
criminal offense; (iii) fraud against Petros or any of its affiliates, or embezzlement, theft or misappropriation of, or maliciously
intentional damage to, the property of Petros or any of its affiliates; (iv) breach of Employee’s fiduciary duties to Petros
or any of its affiliates or misconduct as an employee of Petros that results in economic detriment to Petros or any of its affiliates;
(v) conduct which brings or is likely to bring Employee, Petros or any or any of its affiliates into disrepute; (vi) material breach
of Petros policies, including without limitation risk management policies and procedures, codes of conduct and ethical standards
in the performance of Employee’s duties, which, if capable of remedy, is not remedied within 30 days written notice of such
breach; (vi) failure or refusal to perform the material duties and responsibilities under this Agreement or otherwise assigned
to Employee by Petros consistent with law and the duties of the Employee hereunder, which failure or refusal, if capable of remedy,
is not remedied within 30 days written notice of such breach; (vii) performance of Employee’s job responsibilities at a level
below the reasonable standards or requirements set by Petros, which, if capable of remedy, is not remedied within 30 days written
notice of such breach; or (viii) breach by Employee of any covenants under any agreement with Petros or of any other material provision
of this Agreement.

 

(b)       “Good
Reason” means the occurrence, without Employee’s consent, of any of the following events, other than in connection
with a termination of Employee’s employment for Cause or due to a disability: (i) a material reduction at any time in Employee’s
then current base salary, other than a material reduction in Employee’s base salary pursuant to a salary reduction program
affecting all or substantially all of the similarly situated employees of Petros; or (ii) a
material diminution in the Employee’s authority, duties or responsibilities as the President and Chief Commercial
Officer of Petros (excluding, however, any such diminution that may result from Petros becoming a subsidiary of another entity
or any such diminution that may result from authority, duties or responsibilities that are assumed by any Chief Executive Officer
hired by Petros after the date hereof); or (iii) the Employee is required to relocate or work from a location that is more than
50 miles from the current location of Petros’s New Jersey offices (excluding a mandate, or permission granted, by Petros
that Employee works from home), provided, however, that none of the events described in this sentence shall constitute
Good Reason unless and until (v) Employee reasonably determines in good faith that a Good Reason condition has occurred, (w) Employee
first notifies Petros in writing describing in reasonable detail the condition which constitutes Good Reason within 30 days of
its occurrence, (x) Petros fails to cure such condition within 30 days after Petros’ receipt of such written notice, and
Employee has cooperated in good faith with the Petros’ efforts to cure such condition, (y) notwithstanding such efforts,
the Good Reason condition continues to exist, and (z) Employee terminates his employment within 30 days after the end of such 30-day
cure period. If Petros cures the Good Reason condition during such cure period, Good Reason shall be deemed not to have occurred.

  

2.                  
Payment Timing of Bonus. The Bonus will be paid in a lump sum cash payment on December 15, 2020.

 

     

     

    

 

3.                  
No Employment or Service Rights. This Agreement will not give Employee any right to continued employment or service
with Petros.

 

4.                  
No Agreements or Representations. No agreements or representations, oral or otherwise, express or implied, with respect
to the subject matter hereof have been made by either party which are not set forth expressly in this Agreement.

 

5.                  
Non-transferability. Employee shall not have the right to assign this Agreement or alienate, anticipate, commute,
pledge, encumber or assign any of the benefits or payments which Employee may expect to receive, contingently or otherwise, under
this Agreement.

 

6.                  
Confidentiality. Employee agrees that the existence of this Agreement and its terms and conditions shall be kept
strictly confidential except to the extent that disclosure is required by law or the regulations of any governmental authority,
except that Employee may disclose the existence and terms of this Agreement to Employee’s advisors and immediate family,
provided, however, that Employee shall instruct Employee’s advisors and immediate family to keep such information in the
strictest confidence and Employee shall be responsible for any disclosure by such parties in breach hereof.

 

7.                  
Entire Agreement; Construction. This agreement constitutes the entire agreement of the parties with regard to the
subject matter hereof and terminates and supersedes any and all prior agreements, understandings and representations, whether written
or oral, by or between the parties hereto or their affiliates which may have related to the subject matter hereof in any way, including,
without limitation, any other retention or bonus agreement, which is hereby terminated and cancelled and of no further force or
effect, without the payment of any additional consideration by or to either of the parties hereto. The headings in this Agreement
are intended solely for the convenience of reference and should be given no effect in the construction or interpretation of this
Agreement.

 

8.                  
Tax Withholding. All payments under this Agreement will be made subject to applicable federal, state and local tax
withholding.

 

9.                  
Governing Law. This Agreement shall be governed by the laws of the Delaware without giving effect to its principles
of conflict of laws.

 

IN WITNESS WHEREOF,
the undersigned, intending to be legally bound, have executed this Agreement as of the date set forth above.

  

	 	 	Petros Pharmaceuticals, Inc.
	 	 	 	 
	 	 	 	 
	/s/ Fady Boctor	 	By:	/s/ Keith F. Lavan
	Fady Boctor	 	Name: Keith F. Lavan
	Date: 12-11-2020	 	Title: CFO
	 	 	Date: 12-14-2020
	 	 	 

  

 

    	 	2Exhibit 10.2

 

Idera
Pharmaceuticals, Inc.

 

AMENDMENT TO THE SECURITIES PURCHASE
AGREEMENT

AND

REGISTRATION RIGHTS AGREEMENT

 

This Amendment to the Prior SPA and the Prior RRA (each as defined
below) effective as of December 11, 2020, is made by and between Idera Pharmaceuticals, Inc., a Delaware corporation (the “Company”),
Pillar Partners Foundation, L.P., a Cayman Islands limited partnership (“Pillar Foundation”) and Pillar Pharmaceuticals
6, L.P., a Cayman Islands limited partnership (“Pillar 6” and, together with Pillar Foundation, the “Purchasers”).
Unless otherwise defined herein, capitalized terms shall have the meanings assigned to such terms in the Prior SPA (as defined
below).

 

WHEREAS, the Company
and Pillar Foundation are parties to that certain Securities Purchase Agreement, effective as of April 7, 2020 (the “Prior
SPA”) and that certain Registration Rights Agreement, effective April 7, 2020 (the “Prior RRA” and, together
with the Prior SPA, the “Prior Agreements”);

 

WHEREAS, pursuant to
Section 3.02(b) of the Prior SPA, Pillar Foundation has delivered to the Company written notice that it desires to purchase the
Second Closing Securities set forth in Section 2.01(b) of the Prior SPA;

 

WHEREAS, Pillar Foundation
has requested that a certain portion of the Second Closing Securities be purchased by Pillar 6;

 

WHEREAS, the Company
desires to sell, and Pillar Foundation and Pillar 6, desire to purchase the Securities in the Second Closing; and

 

WHEREAS, the Company
and Pillar Foundation desire to have Pillar 6 join as a party to each of the Prior Agreements.

 

NOW, THEREFORE, in
consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, and with the intent to be legally bound, the parties hereto hereby agree as follows:

 

		1.	Pillar 6 shall be considered a Purchaser for all purposes under the Prior SPA and an Investor (as
defined in the Prior RRA) for all purposes under the Prior RRA, and such conforming changes as shall be required shall be made
to the Prior Agreements to reflect the foregoing, as applicable

 

		2.	The allocation of the Securities among the Purchasers in the Second Closing pursuant to Section
2.01(b) of the Prior SPA shall be as follows:

 

	 	 	Shares	 	 	Pre-Funded

Warrants	 	 	Common Warrants	 
	Pillar Foundation	 	 	69,941	 	 	 	1,143,428	 	 	 	606,685	 
	Pillar 6	 	 	--	 	 	 	1,533,883	 	 	 	766,941	 

  

     

     

    

 

		3.	This Amendment shall amend and is incorporated into and
made part of the Prior Agreements. To the extent any term or provision of this Amendment may be deemed expressly inconsistent
with any term or provision in the Prior Agreements, the terms and provisions of this Amendment shall control. Except as expressly
amended by this Amendment, all of the terms, conditions and provisions of the Prior Agreements are hereby ratified and continue
unchanged and remain in full force and effect.

 

		4.	This Amendment shall be governed by, and construed in
accordance with, the laws of the State of Delaware, without regard to the conflicts of laws principles thereof.

 

		5.	This Amendment may be executed in two or more counterparts
each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same instrument.
This Amendment may be executed and delivered by facsimile and upon such delivery the facsimile signature will be deemed to have
the same effect as if the original signature had been delivered to the other party.

 

[Remainder of Page Intentionally Left
Blank]

 

    -2-

     

    

 

IN WITNESS WHEREOF,
the parties hereto have executed this Amendment as of the date and year first written above.

 

	 	IDERA PHARMACEUTICALS, INC. 

 

	 	By:	 /s/ Vincent J. Milano
	 	Name: Vincent J. Milano
	 	
        Title: Chief Executive Officer

 

	 	PILLAR PARTNERS FOUNDATION, L.P.
	 	 
	 	By:	 /s/ Abdul-Wahab Umari

	 	Name: Abdul-Wahab Umari
	 	Title: Director

 

	 	PILLAR Pharmaceuticals 6, L.P.
	 	 
	 	By:	/s/ Abdul-Wahab Umari

		Name: Abdul-Wahab Umari
	 	Title: Director

 

Signature Page to the Amendment to the SPA & RRA

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