Peak offering free return for example (5)
I believe the answer is:
ridge
'peak' is the definition.
(I've seen this before)
'free return for example' is the wordplay.
'free' becomes 'rid' ('rid' can be a synonym of 'free').
'return' says the letters should be written backwards.
'for example' becomes 'eg' ('e.g.' can be a synonym of 'for example').
'eg' written backwards gives 'ge'.
'rid'+'ge'='RIDGE'
'offering' acts as a link.
(Other definitions for ridge that I've seen before include "Narrow raised strip as between hills" , "Narrow elevated strip" , "Elongated area of high pressure" , "Hog's-back" , "Line where two upward sloping surfaces meet" .)