Document:

EX-10.5

 EXHIBIT 10.5 

CONTRIBUTION AGREEMENT 

This Contribution Agreement (this “Agreement”), dated as of July
            , 2017, is made and entered into by and among (i) PetIQ, Inc., a Delaware corporation (“PetIQ Corporation”), (ii) Eos Partners, L.P., a Delaware
limited partnership (“Eos Partners”), Eos Capital Partners IV, L.P., a Delaware limited partnership (“Eos Capital Partners”), and Highland Consumer Fund I-B Limited Partnership, a Delaware limited partnership
(“Highland” and, together with Eos Partners and Eos Capital Partners, the “C-Corp LLC Owner Parents”), and (iii) ECP IV TS Investor Co., a Delaware corporation (“ECP IV”), Eos TS Investor Co.,
a Delaware corporation (“Eos TS”), and HCP—TS Blocker Corp., a Delaware (“HCP” and, together with ECP IV and Eos TS, the “C-Corp LLC Owners”). The parties hereto are each referred to herein as
a “Party” and collectively as the “Parties.” Capitalized terms used herein and not otherwise defined shall have the meanings ascribed to such terms in the Recapitalization Agreement (defined below). 

WHEREAS, PetIQ Corporation, the C-Corp LLC Owner Parents and the C-Corp LLC Owners are party to that certain Recapitalization
Agreement, dated as of July             , 2017 (the “Recapitalization Agreement”), by and among PetIQ Corporation, PetIQ Holdings, LLC, a Delaware limited liability
company, and the Continuing LLC Owners (as defined therein), pursuant to which the C-Corp LLC Owner Parents have agreed to, among other things, contribute the C-Corp LLC Owners to PetIQ Corporation (the “Contribution”) in connection
with the initial public offering of shares of PetIQ Corporation’s Class A common stock, par value $0.001 per share (the “Class A Common Stock”); and 

WHEREAS, prior to the Contribution, certain of the C-Corp LLC Owner Parents desire to contribute those promissory notes set forth on
Schedule I hereto (the “Promissory Notes”) to the respective C-Corp LLC Owners as set forth thereon. 
 NOW,
THEREFORE, in consideration of the mutual premises contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows, effective immediately prior to the
Pricing: 
  

	 	1.	Contribution of the Promissory Notes. Pursuant to the terms and subject to the conditions and limitations hereof, each C-Corp LLC Owner Parent, as applicable, hereby irrevocably contributes, conveys, assigns,
transfers and delivers to the respective C-Corp LLC Owner, and such C-Corp LLC Owner hereby accepts and acquires from each C-Corp LLC Owner Parent, as applicable, the Promissory Notes as set forth on Schedule I hereto. Such contributions of
Promissory Notes shall be treated as contributions to the capital of the C-Corp LLC Owners, as applicable, accepting and acquiring such Promissory Notes. 

  

	 	2.	Contribution of the C-Corp LLC Owners. Pursuant to the terms and subject to the conditions and limitations hereof, immediately after the contributions described in Section 1, each C-Corp LLC Owner
Parent, as applicable, hereby irrevocably contributes, conveys, assigns, transfers and delivers to PetIQ Corporation, and PetIQ Corporation hereby accepts and acquires from each C-Corp LLC Owner Parent, as applicable, all of the issued and
outstanding equity interests in each C-Corp LLC Owner in exchange for (i) shares of Class A Common Stock issued in accordance with the Recapitalization Agreement as set forth in Schedule II and (ii) Preference Notes issued in
accordance with the Recapitalization Agreement as set forth in Schedule II attached hereto. 

	 	3.	Effect of Contribution of the C-Corp LLC Owners. Immediately after the contributions described in Section 2, each C-Corp LLC Owner will be a wholly-owned subsidiary of PetIQ Corporation.

  

	 	4.	No Liabilities in Event of Termination; Certain Covenants. In the event that PetIQ Corporation determines to abandon the IPO (whether before or after the Pricing) or in the event that the Pricing does not occur
by December 31, 2017, after the occurrence of some or all of the events described in Sections 1 and 2, the Parties agree, to the extent possible and without material adverse effect on any Party, to rescind the contributions, transfers
and other actions described in Sections 1 and 2 and consummated prior to such abandonment or such failure of the Pricing to occur, as applicable. 

  

	 	5.	Successors and Assigns. This Agreement shall bind and inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns. No party may assign, delegate or otherwise
transfer its rights or obligations under this Agreement without the consent of the other parties hereto. 

  

	 	6.	Enforcement of Certain Rights. Nothing expressed or implied in this Agreement is intended, or will be construed, to confer upon or give any person other than the parties hereto, and their successors or permitted
assigns, any rights, remedies, obligations, liabilities under or by reason of this Agreement, or result in such person being deemed a third-party beneficiary of this Agreement. 

 

	 	7.	Amendment. This Agreement may be amended, supplemented or otherwise modified at any time by a written instrument duly executed by each of the parties hereto. 

 

	 	8.	Governing Law. This Agreement will be governed by and construed in accordance with the laws of the State of Delaware (regardless of the laws that might otherwise govern under applicable principles of conflict of
laws thereof) as to all matters, including but not limited to matters of validity, construction, effect, performance and remedies. 

  

	 	9.	Miscellaneous. This Agreement is a complete statement of the agreement among the parties with respect to the matters provided for herein, and there are no agreements, promises, warranties, covenants or
undertakings other than as expressly set forth in this Agreement. This Agreement supersedes any previous agreements and understandings among the parties with respect to the matters provided for herein and cannot be changed or terminated except in
writing signed by both parties. The Section headings contained in this Agreement are solely for purpose of reference and shall not in any way affect the meaning or interpretation of this Agreement. 

  
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	 	10.	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one and the same instrument. A facsimile signature page
(or signature page in similar electronic form) hereto shall be treated by the parties for all purposes as equivalent to a manually signed signature page. 

[signature page follows] 

  
 3 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date
first written above. 
  

			
	PetIQ CORPORATION
	
	PetIQ, INC.

 
			
		
	By:	 	  

	Name:
	Title:

 [Signature Page to Contribution Agreement] 

 
			
	C-CORP LLC OWNER PARENTS
	
	EOS PARTNERS, L.P.
		
	By:	 	  

	Name:
	Title:
	
	EOS CAPITAL PARTNERS IV, L.P.
		
	By:	 	  

	Name:
	Title:

 [Signature Page to Contribution Agreement] 

 
			
	 HIGHLAND CONSUMER FUND I-B
 LIMITED
PARTNERSHIP

 
			
		
	By:	 	  

	Name:
	Title:

 [Signature Page to Contribution Agreement] 

 
			
	C-CORP LLC OWNERS
	
	ECP IV TS INVESTOR CO.

 
			
		
	By:	 	  

	Name:
	Title:
	
	EOS TS INVESTOR CO.

 
			
		
	By:	 	  

	Name:
	Title:
	
	HCP - TS BLOCKER CORP.

 
			
		
	By:	 	  

	Name:
	Title:

 [Signature Page to Contribution Agreement]EX-10.6

 EXHIBIT 10.6 

PREFERENCE NOTE 
  

			
	$[     ]	  	[    ], 2017

 FOR VALUE RECEIVED, [PetIQ Holdings] (“Maker”) promises to pay to the order of [ ]
(“Payee”) the sum of $[ ] within [ ] days of the consummation of the initial public offering of the shares of Maker’s] Class A common stock, par value $0.0001 per share (the “Maturity Date”), together with
interest thereon at the per annum rate of [ ] percent on the outstanding principal amount of this preference note (this “Note”). All accrued interest shall be payable on or before the Maturity Date. 

Principal and interest in respect of this Note shall be paid in lawful currency of the United States, in immediately available funds, at such
place as Payee may designate to Maker. 
 Each of the following shall constitute an “Event of Default” within the meaning
of this Note: (a) Maker shall fail or refuse to make any payment of principal or interest at the time when the same shall become due, (b) Maker shall default under any other obligation contained in this Note and such default shall not have
been cured within 20 days following notice thereof to Maker or (c) there shall occur (i) an assignment for the benefit of creditors by Maker, the adjudication in bankruptcy of Maker or the filing of a voluntary petition by Maker under any
of the provisions of any bankruptcy laws or under the provisions of any other law relating to the relief of debtors, (ii) the filing of any answer or other pleading admitting the material allegations of any petition filed against Maker in any
bankruptcy, insolvency or other such proceeding or (iii) the filing of a petition against Maker under any of the provisions of any bankruptcy laws of the United States or similar laws of any jurisdiction and the failure of such petition to be
dismissed within 60 days. 
 Immediately upon acquiring notice thereof, Maker shall give written notice to Payee of the existence of any
Event of Default, specifying the nature and duration thereof and what action, if any, Maker has taken, is taking or proposes to take with respect thereto. 

In the event of the occurrence of an Event of Default, Payee may declare the principal of and accrued interest on this Note immediately due
and payable, and upon such declaration, the same shall be immediately due and payable; provided, that upon the occurrence of an Event of Default as defined by clause (c) of the definition of “Event of Default,” the principal of
and accrued interest on this Note shall be immediately due and payable without any action by Payee. Payee may exercise any or all of the rights that it may have in any order, from time to time, and shall not be obligated to exercise any of such
rights. No failure to exercise any right shall operate as a waiver, and no waiver, consent or agreement given in any instance shall adversely affect the rights of Payee in any other instance. 

The remedies provided herein in favor of Payee shall not be deemed exclusive, but shall be cumulative, and shall be in addition to all other
remedies in favor of Payee existing at law or in equity. No delay on the part of Payee in exercising any of its options, powers or rights, or any partial or single exercise thereof, shall constitute a waiver thereof. 

 Maker shall, upon request, pay all of the reasonable expenses of Payee in connection with the
enforcement of any rights of Payee under this Note. 
 This Note shall in all respects be governed by the laws of Delaware. This Note may
not be altered or amended, except by a writing duly signed by the party against whom such alteration or amendment is sought to be enforced. 

This Note may be prepaid in part or in full at any time. 

Maker hereby waives presentment for payment, demand, notice of dishonor, notice of protest and protest and diligence in taking any action to
collect amounts due hereunder. 
  

			
	[PetIQ HOLDINGS]

 
			
		
	By:	 	  

	Name:
	Title:

 Preference Note – [FORM]

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