SEC Filing Document

Company: Synergy CHC Corp.
Ticker: SNYR
CIK: 1562733
Filing Type: S-1/A
Document Type: EX-10.5
Date Filed: 2024-07-29
Accession Number: 0001013762-24-002165
Exchange: Nasdaq
SIC Code: 2833
SIC Description: Medicinal Chemicals & Botanical Products
URL: https://www.sec.gov/Archives/edgar/data/1562733/000101376224002165/ea020832402ex10-5_synergy.htm

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for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, and (B) at least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were Incumbent Directors at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; (v) Shareholder approval of a plan of complete liquidation of the Company.

(g) “Code”
means the Internal Revenue Code of 1986, as amended, and any successor thereto. Reference in the Plan to any section of the Code shall
be deemed to include any regulations or other interpretative guidance under such section, and any amendments or successor provisions to
such section, regulations or guidance.

(h) “Committee”
means a committee of at least two (2) people as the Board may appoint to administer the Plan or, if no such committee has been appointed
by the Board, the Board.

(i) “Common Stock”
means the shares of the Company’s common stock, par value $0.00001 per share.

(j) “Company”
means Synergy CHC Corp., a Nevada corporation.

(k) “Date of Grant”
means the date on which the granting of an Award is authorized, or such other date as may be specified in such authorization.

(l) “Effective Date”
means the later of (i) the date on which the Plan is approved by the shareholders of the Company, and (ii) the date that is one day prior
to the date of the closing of transactions contemplated by the Merger Agreement.

(m) “Eligible Director”
means a person who is a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act.

(n) “Eligible Person”
with respect to an Award denominated in Common Stock, means any (i) individual employed by the Company or an Affiliate; (ii) director
of the Company or an Affiliate; (iii) consultant or advisor to the Company or an Affiliate; provided that if the Securities Act
applies such persons must be eligible to be offered securities registrable on Form S-8 under the Securities Act; or (iv) prospective employees,
directors, officers, consultants or advisors who have accepted offers of employment or consultancy from the Company or its Affiliates
(and would satisfy the provisions of clauses (i) through (iii) above once he or she begins employment with or begins providing services
to the Company or its Affiliates).

(o) “Exchange Act”
has the meaning given such term in the definition of “Change in Control,” and any reference in the Plan to any section of
(or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations or other interpretative guidance under
such section or rule, and any amendments or successor provisions to such section, rules, regulations or guidance.

(p) “Exercise Price”
has the meaning given such term in Section 7(b) of the Plan.

(q) “Fair Market Value”
means, as of any date, the value of Common Stock determined as follows:

(i) If the Common Stock is
listed on any established stock exchange or a national market system will be the closing sales price for such shares (or the closing bid,
if no sales were reported) as quoted on such exchange or system on the day of determination, as reported in The Wall Street Journal or
such other source as the Committee deems reliable;

(ii) If the Common Stock is
regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Common Share will be
the mean between the high bid and low asked prices for the Common Stock on the day of determination, as reported in The Wall Street Journal
or such other source as the Committee deems reliable; or

(iii) In the absence of an
established market for the Common Stock, the Fair Market Value will be determined in good faith by the Committee.

(r) “Good Reason”
shall have the meaning set forth in the applicable Participant’s employment or similar agreement with the Company or its Affiliates
and in the absence of such agreement or definition, shall mean that one or more of the following has occurred without the Participant’s
written consent:

(i) a material negative change
in the nature or scope of the Participant’s responsibilities, duties or authority;

(ii) a material reduction
in the Participant’s base compensation, excluding any reduction up to ten percent (10%) that is applied to all similarly situated
service providers of the Company; or

(iii) the Participant’s
required re-location to a worksite location which is more than fifty (50) miles from the Participant’s then current principal worksite
without the Participant’s prior written consent (such consent not to be unreasonably withheld);

provided that, in any such case, the Participant
provides written notice to the Company that the event giving rise to such claim of Good Reason has occurred within thirty (30) days after
the occurrence of such event, and such Good Reason remains uncured thirty (30) days after the Participant has provided such written notice;
provided further that any resignation of the Participant’s employment or service for “Good Reason” occurs no
later than thirty (30) days following the expiration of such cure period.

(s) “Immediate Family
Members” shall have the meaning set forth in Section 15(b).

(t) “Incentive Stock
Option” means an Option that is designated by the Committee as an incentive stock option as described in Section 422 of the
Code and otherwise meets the requirements set forth in the Plan.

(u) “Indemnifiable
Person” shall have the meaning set forth in Section 4(e) of the Plan.

(v) “Mature Shares”
means Common Stock owned by a Participant that are not subject to any pledge or security interest and that have been either previously
acquired by the Participant on the open market or meet such other requirements, if any, as the Committee may determine are necessary in
order to avoid an accounting earnings charge on account of the use of such shares to pay the Exercise Price or satisfy a tax or deduction
obligation of the Participant.

(w) “Non-Qualified
Stock Option” means an Option that is not designated by the Committee as an Incentive Stock Option.

(x) “Option”
means an Award granted under Section 7 of the Plan.

(y) “Option Period”
has the meaning given such term in Section 7(c) of the Plan.

(z) “Outstanding Company
Common Stock” has the meaning given such term in the definition of “Change in Control.”

(aa) “Outstanding Company
Voting Securities” has the meaning given such term in the definition of “Change in Control.”

(bb) “Participant”
means an Eligible Person who has been selected by the Committee to participate in the Plan and to receive an Award pursuant to Section
6 of the Plan.

(cc) “Performance Compensation
Award” shall mean any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of
the Plan.

(dd) “Performance Criteria”
shall mean the criterion or criteria that the Committee shall select for purposes of establishing the Performance Goal(s) for a Performance
Period with respect to any Performance Compensation Award under the Plan.

(ee) “Performance Formula”
shall mean, for a Performance Period, the one or more formulae applied against the relevant Performance Goal to determine, with regard
to the Performance Compensation Award of a particular Participant, whether all, some portion but less than all, or none of the Performance
Compensation Award has been earned for the Performance Period.

(ff) “Performance Goals”
shall mean, for a Performance Period, the one or more goals established by the Committee for the Performance Period based upon the Performance
Criteria.

(gg) “Performance Period”
shall mean the one or more periods of time, as the Committee may select, over which the attainment of one or more Performance Goals will
be measured for the purpose of determining a Participant’s right to, and the payment of, a Performance Compensation Award.

(hh) “Permitted Transferee”
shall have the meaning set forth in Section 15(b) of the Plan.

(ii) “Person”
has the meaning given such term in the definition of “Change in Control.”

(jj) “Plan”
means this RBio Energy Holdings Corp. 2024 Equity Incentive Plan, as amended from time to time.

(kk) “Qualifying Termination”
means, except as otherwise provided by the Committee as set forth in the Award, the occurrence of either a termination of a Participant’s
employment by the Company without Cause or for Good Reason, in either case, occurring on or within the twelve (12) month period (or such
other period specified in the applicable Award Agreement) following the consummation of a Change in Control.