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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of any kind or a fiduciary relationship between the Company or any Affiliate, on the one hand, and a Participant or other person or entity, on the other hand. No provision of the Plan or any Award shall require the Company, for the purpose of satisfying any obligations under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or otherwise to segregate any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence of the existence of a segregated or separately maintained or administered fund for such purposes. Participants shall have no rights under the Plan other than as unsecured general creditors of the Company, except that insofar as they may have become entitled to payment of additional compensation by performance of services, they shall have the same rights as other employees under general law.

(m) Reliance on Reports.
Each member of the Committee and each member of the Board shall be fully justified in acting or failing to act, as the case may be, and
shall not be liable for having so acted or failed to act in good faith, in reliance upon any report made by the independent public accountant
of the Company and its Affiliates and/or any other information furnished in connection with the Plan by any agent of the Company or the
Committee or the Board, other than himself.

(n) Relationship to Other
Benefits. No payment under the Plan shall be taken into account in determining any benefits under any pension, retirement, profit
sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided in such other plan.

(o) Governing Law. The
Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to the conflict of
laws provisions thereof. Each party hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction
of the state and federal courts seated in Delaware (and any appellate courts thereof) in any action or proceeding arising out of or relating
to this Plan, and each of the parties hereby irrevocably and unconditionally (a) agrees not to commence any such action or proceeding
except in such courts, (b) agrees that any claim in respect of any such action or proceeding may be heard and determined in such court,
(c) waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying
of venue of any such action or proceeding in any such court, and (d) waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court. Each party agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law. Each party hereby knowingly, voluntarily and intentionally irrevocably waives the right to a trial by jury in respect to any litigation,
dispute, claim, legal action or other legal proceeding based hereon, or arising out of, under, or in connection with, this Plan.

(p) Severability. If
any provision of the Plan or any Award or Award agreement is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction
or as to any person or entity or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such
provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without,
in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be construed or deemed
stricken as to such jurisdiction, person or entity or Award and the remainder of the Plan and any such Award shall remain in full force
and effect.

(q) Obligations Binding on
Successors. The obligations of the Company under the Plan shall be binding upon any successor corporation or organization resulting
from the merger, amalgamation, consolidation or other reorganization of the Company, or upon any successor corporation or organization
succeeding to substantially all of the assets and business of the Company.

(r) Code Section 409A.

(i) Notwithstanding any provision
of this Plan to the contrary, all Awards made under this Plan are intended to be exempt from or, in the alternative, comply with Code
Section 409A and the interpretive guidance thereunder, including the exceptions for stock rights and short-term deferrals. The Plan shall
be construed and interpreted in accordance with such intent. Each payment under an Award shall be treated as a separate payment for purposes
of Code Section 409A and, if an Award includes “dividend equivalents” within the meaning of Section 1.409A-3(e) of Code Section
409A, the Participant’s right to receive the dividend equivalents will be treated separately from the right to other amounts under
the Award.

(ii) If a Participant is a
“specified employee” (as such term is defined for purposes of Code Section 409A) at the time of his or her termination of
service, no amount that is non-qualified deferred compensation subject to Code Section 409A and that becomes payable by reason of such
termination of service shall be paid to the Participant (or in the event of the Participant’s death, the Participant’s representative
or estate) before the earlier of (x) the first business day after the date that is six months following the date of the Participant’s
termination of service, and (y) within thirty (30) days following the date of the Participant’s death (in each case, without interest).
Any payments of non-qualified deferred compensation under any Award payable more than six months following the Participant’s termination
of service will be paid at the time or times the payments are otherwise scheduled to be made. For purposes of Code Section 409A, a termination
of service shall be deemed to occur only if it is a “separation from service” within the meaning of Code Section 409A, and
references in the Plan and any Award agreement to “termination of service” or similar terms shall mean a “separation
from service”, whether such “separation from service” occurs upon or after the Participant’s termination of service.
If any Award is or becomes subject to Code Section 409A and if payment of such Award would be accelerated or otherwise triggered under
a Change in Control, then the definition of Change in Control shall be deemed modified, only to the extent necessary to avoid the imposition
of an excise tax under Code Section 409A, to mean a “change in control event” as such term is defined for purposes of Code
Section 409A.

(iii) Any adjustments made
pursuant to Section 12 to Awards that are subject to Code Section 409A shall be made in compliance with the requirements of Code
Section 409A, and any adjustments made pursuant to Section 12 to Awards that are not subject to Code Section 409A shall be made
in such a manner as to ensure that after such adjustment, the Awards either (x) continue not to be subject to Code Section 409A or (y)
comply with the requirements of Code Section 409A.

(s) Expenses; Gender; Titles
and Headings. The expenses of administering the Plan shall be borne by the Company and its Affiliates. Masculine pronouns and other
words of masculine gender shall refer to both men and women. The titles and headings of the sections in the Plan are for convenience of
reference only, and in the event of any conflict, the text of the Plan, rather than such titles or headings shall control.

(t) Other Agreements.
Notwithstanding the above, the Committee may require, as a condition to the grant of and/or the receipt of Common Stock or other securities
under an Award, that the Participant execute lock-up, shareholder or other agreements, as it may determine in its sole and absolute discretion.

(u) Payments. Participants
shall be required to pay, to the extent required by applicable law, any amounts required to receive Common Stock or other securities under
any Award made under the Plan.

(v) Erroneously Awarded Compensation.
All Awards shall be subject (including on a retroactive basis) to (i) any clawback, forfeiture or similar incentive compensation recoupment
policy established from time to time by the Company, including, without limitation, any such policy established to comply with the Dodd-Frank
Wall Street Reform and Consumer Protection Act, (ii) applicable law (including, without limitation, Section 304 of the Sarbanes-Oxley
Act and Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act), and/or (iii) the rules and regulations of the applicable
securities exchange or inter-dealer quotation system on which the Common Stock or other securities are listed or quoted, and such requirements
shall be deemed incorporated by reference into all outstanding Award agreements.

Adopted by consent of the Board: June 26, 2024

Shareholder Approved: June 26, 2024