On May 8, 2020, Synergy CHC Corp. entered into a Third Amendment Agreement to the Amended and Restated Loan Agreement with Knight Therapeutics (Barbados) Inc. (Knight), pursuant to which Knight agreed to loan the Company an additional $2.5 million (the Additional Loan). That same day (the Closing), the Company paid Knight a work fee of $36,000, and $25,000 for Knight’s legal costs and expenses incurred in connection with the Third Amendment. The Third Amendment amends the original loan agreement that the Company and Knight entered into in January 2015 and subsequently amended. The Additional Loan matures on May 8, 2021 (the TA Maturity Date) and bears interest at 12.5% per annum. On the TA Maturity Date, the Company will pay Knight a success fee (the Success Fee) of $83,250. The Success Fee is payable in cash or stock as set forth in the Loan Agreement. The Third Amendment includes customary representations, warranties, and affirmative and restrictive covenants, including covenants to attain and maintain certain financial metrics, including an undertaking to maintain at all times a cash balance of $600,000 and EBITDA of $3,000,000.