EX-10.7





 Exhibit 10.7 

CHANGE IN CONTROL 

SEVERANCE AGREEMENT 
 This
CHANGE IN CONTROL SEVERANCE AGREEMENT is dated as of October 5, 2020, by and between TREACE MEDICAL CONCEPTS, INC., a Delaware corporation (the “Company”), and Jaime A. Frias (the “Executive”). 

PURPOSE 
 In order to
induce the Executive to remain in the employment of the Company and its Affiliates in the event of a potential Change in Control (as defined below), the Company desires to enter into this Change in Control Severance Agreement (the
“Agreement”) to provide the Executive with certain benefits if the Executive’s employment is terminated in connection with or following the occurrence of a Change in Control. 

NOW, THEREFORE, in consideration of the respective agreements of the parties contained herein, it is agreed as follows: 

SECTION 1. Definitions 

For purposes of this Agreement, the following terms have the meanings set forth below: 

“Affiliate” means, with respect to any individual or entity, any other individual or entity who, directly or indirectly
through one or more intermediaries, controls, is controlled by or is under common control with, such individual or entity. 

“Annual Base Salary” means the Executive’s annual base salary in effect immediately before his or her Severance. 

“Annual Target Bonus Opportunity” means the amount of the annual cash incentive payable to an Executive under a Company or
Affiliate annual incentive plan with respect to a given fiscal year of the Company or Affiliate, as applicable, assuming that the target level of performance under the plan was achieved. 

“Board” means the Board of Directors of the Company. 

“Cause” shall mean: 

(a) the Executive’s willful and continued failure to attempt in good faith (other than as a result of incapacity due to
mental or physical impairment) to substantially perform the duties of his or her position, and such failure is not remedied within 30 days after receipt of written notice from the Board or the Chief Executive Officer specifying such failure; 

(b) the Executive’s failure to attempt in good faith to carry out, or comply with, in any material respect any lawful and
reasonable directive of the Board or the Chief Executive Officer consistent with the duties of his or her position, which is not remedied within 30 days after receipt of written notice from the Board or the Chief Executive Officer specifying such
failure; 












 (c) a material breach by the Executive of the Company’s code of ethics,
which is not remedied within 30 days after receipt of written notice from the Board or the Chief Executive Officer specifying such failure; 

(d) the Executive’s conviction, plea of no contest or plea of nolo contendere, or imposition of unadjudicated
probation for any felony (other than a traffic violation or arising purely as a result of the Executive’s position with the Company or an Affiliate and not in connection with any act or omission of the Executive); 

(e) the Executive’s knowing unlawful use (including being under the influence) or possession of illegal drugs; or 

(f) the Executive’s commission of a material bad faith act of fraud, embezzlement, misappropriation, willful misconduct,
gross negligence, or breach of fiduciary duty, in each case against the Company or any Affiliate. 
 For the purposes of this definition, no
act (or omission) that is (i) taken in good faith and (ii) not adverse to the best interests of the Company or its Affiliates shall be considered to be willful. 

“Change in Control” shall have the same meaning as assigned to that term in the Company’s 2014 Stock Plan (or any
successor to or replacement of such plan). 
 “Code” means the Internal Revenue Code of 1986, as amended. 

“Disability” means a disability within the meaning of Code section 409A(a)(2)(C) and U.S. Treasury Regulations section 1.409A-3(i)(4) (or any successor provision). 
 “Effective Date” shall mean the date
first set forth above. 
 “Good Reason” means the occurrence of any of the following events, unless the
Executive otherwise consents in writing to such event: 
 (a) a material reduction in the Executive’s Annual Base Salary
(other than a reduction of less than ten percent (10%) that is applicable to all employees generally); 
 (b) a material
reduction in the Executive’s Annual Target Bonus Opportunity as compared to his or her Annual Target Bonus Opportunity for the fiscal year of the Company in which the Change in Control occurred; 

  
 2 













 (c) requiring the Executive to relocate his or her principal place of
employment to a location more than fifty (50) miles from the Executive’s current principal place of employment; or 

(d) the failure or refusal by a successor or acquiring company, upon the consummation of a Change in Control, to
(i) assume the obligations of the Company under this Agreement or (ii) assume obligations to Executive that are substantially equivalent to or more favorable than the obligations under this Agreement. 

The Executive shall provide the Company with a written notice of resignation within ninety (90) days following the occurrence of the event constituting
Good Reason and the Company (or its Affiliate, if applicable) shall have a period of thirty (30) days following its receipt of such notice in which to cure such event without such event constituting Good Reason. If the Company (or its
Affiliate, if applicable) does not cure the condition or conditions by the end of such thirty (30) day period, the Executive may voluntarily terminate employment within thirty (30) days after the last day of the thirty (30) day cure
period. The Executive’s voluntary termination of employment other than in accordance with the requirements of this definition shall not constitute termination for Good Reason. 

“Release” means a general release of claims against the Company and the other persons specified therein in the form attached
hereto as Exhibit A, or in such other form as is required to comply with applicable law. 
 “Severance” means
(a) the involuntary termination of the Executive’s employment by the Company or any Affiliate thereof, other than for Cause, death or Disability or (b) a termination of the Executive’s employment with the Company and its
Affiliates by the Executive for Good Reason, in each case, in connection with a Change in Control or within an eighteen (18) month period following the occurrence of a Change in Control. 

“Severance Date” means the date on which the Executive incurs a Severance. 

“Severance Period” means the period following the Executive’s Severance pursuant to which the Company owes payments
and/or benefits to the Executive pursuant to this Agreement. 
 “Treasury Regulations” means the final, temporary or
proposed regulations issued by the Treasury Department and/or Internal Revenue Service as modified in Title 26 of The United States Code of Federal Regulations. Any references made in this Agreement to specific Treasury Regulations shall also refer
to any successor or replacement regulations thereto. 
 SECTION 2. Term of Agreement. The term of this Agreement (the
“Term”) will commence on the Effective Date, and will continue until (a) in the event the Executive’s employment is terminated for any reason other than the Executive’s Severance, the date of such termination of
employment, or (b) in the event the Executive incurs a Severance, the date on which the Company has fulfilled all obligations owed to the Executive pursuant to this Agreement. 

  
 3 













 SECTION 3. Severance Benefits 

3.1 Generally. Subject to Sections 3.6, 5 and 7.2 of this Agreement, the Executive shall be entitled to the severance payments and
benefits described below. 
 3.2 Payment of Accrued Obligations. The Company shall pay to the Executive upon the Executive’s
Severance a lump sum payment in cash, paid in accordance with applicable law, as soon as practicable but no later than ten (10) days after the Severance Date, equal to the sum of (a) the Executive’s accrued annual base salary and any
accrued vacation pay through the Severance Date, and (b) any annual bonus earned by the Executive but not yet paid as of the Severance Date. 

3.3 Severance Payments. Subject to Section 3.6, upon the Executive’s Severance the Executive shall be entitled to receive an
amount equal to the sum of (a) the Executive’s Annual Base Salary, plus (b) the Executive’s Annual Target Bonus Opportunity for the Company’s (or its Affiliate’s, if applicable) fiscal year in which the Severance Date
occurs, payable in cash in installments over the 12-month period immediately following the Executive’s Severance Date. The Severance Payments shall be paid according to the Company’s normal payroll
practices in effect prior to the Severance, with the first installment commencing on the next regularly-scheduled payroll date that is at least sixty-one (61) days following the Severance Date and such
first installment shall include any amounts that would have been paid during the period from the Executive’s Severance Date through the date of such first installment, absent the delay described herein. 

3.4 Outplacement Services. Subject to Section 3.6, in addition to the benefits provided in Sections 3.3 and 3.5, the Executive
shall be entitled to receive outplacement services of up to $10,000 for the period ending on the first anniversary of the Executive’s Severance Date. 

3.5 Welfare Benefits. Subject to Section 3.6 and upon the Executive incurring a Severance, the Executive shall also be entitled to
receive the benefits described in Section 3.5(a) or (b) below, plus the benefits described in Section 3.5(c). 

(a) The Company shall directly pay Executive’s total COBRA premiums for eighteen (18) months of COBRA continuation
coverage under the Company’s health benefit plan (i.e., medical, dental and vision coverage). To the extent permitted by applicable law, Executive shall have the right to change Executive’s coverage elections under the Company’s
health benefit plan during the COBRA continuation period and any such change in elections shall not reduce or eliminate the Company’s obligation to pay applicable premiums. 

(b) Notwithstanding Section 3.5(a), in the event that the direct COBRA payment arrangement described in
Section 3.5(a) would result in adverse 

  
 4 













 
tax consequences for the Executive under Code Section 105(h) (or similar law), the Company shall pay to the Executive upon the Executive’s Severance an amount equal to one hundred and
twenty five percent (125%) of the total premiums the Executive would be required to pay for eighteen (18) months of COBRA continuation coverage under the Company’s health benefit plan, determined using the COBRA premium rate in effect for
the level of coverage that the Executive has in place immediately prior to the Severance Date (the “COBRA Payment”). The Company shall pay the COBRA Payment in cash in a single lump sum on the date that is sixty-one (61) days following the Severance Date. In the event that the Company makes a payment pursuant to this Section 3.5(b), the Executive shall not be required to purchase COBRA continuation coverage
in order to receive the COBRA Payment nor shall the Executive be required to apply the COBRA Payment to payment of applicable premiums for COBRA continuation coverage. 

(c) In addition, during the COBRA continuation coverage period the Company shall permit the Executive (and his or her eligible
dependents) to participate in any optional life insurance and optional personal accident plans of the Company for which senior executives of the Company are eligible, to the same extent and at the same premium rates as if the Executive had continued
to be an employee of the Company during such period. 
 (d) The coverage period for purposes of COBRA continuation
requirements of Section 4980B of the Code shall commence on the day immediately following the Severance Date. 
 3.6 Release and
Restrictive Covenant Agreement. The Executive shall be eligible to receive the payments and other benefits under this Agreement (other than payments under Section 3.2) only if after the Severance Date (a) the Executive first executes
the Release in favor of the Company and others attached hereto as Exhibit A and the Release has not been revoked by the Executive, by the sixtieth (60th) day following the Severance Date, and (b) the Executive provides the Company
written attestation that the Confidentiality, Non-Competition, Non-Solicitation and Inventions Agreement attached hereto as Exhibit B (the “Restrictive
Covenants Agreement”) is in effect and enforceable. If the Executive does not execute and return the Release and attestation such that either or both agreements do not become effective (or, in the case of the Release, is revoked) within the
60-day period immediately following the Severance Date, the Executive shall not be entitled to any payments or benefits under this Agreement (other than payments under Section 3.2). 

3.7 Forfeiture. If the Executive is found in a judgment no longer subject to review or appeal to have breached the obligations set
forth in the Restrictive Covenants Agreement, then the Executive shall immediately forfeit any amounts payable or benefits to be received and shall promptly reimburse the Company any amounts actually paid to the Executive pursuant to this Agreement
(other than payments made pursuant to Section 3.2). 

  
 5 













 3.8 No Duplication of Benefits. Except as otherwise noted herein, during the Term of
this Agreement the compensation to be paid to the Executive hereunder will be in lieu of any similar severance or termination compensation (compensation based directly on the Executive’s annual salary or annual salary and bonus) to which the
Executive may be entitled under any other Company or Affiliate severance or termination agreement, plan, program, policy, practice or arrangement (collectively, “Severance Plans”). The Executive affirmatively waives any rights he
may have to payments or benefits provided under the Severance Plans to the extent the Executive receives similar payments or benefits under this Agreement. The Executive’s entitlement to any compensation or benefits of a type not provided in
this Agreement will be determined in accordance with the Company’s or its Affiliates’ employee benefit plans and other applicable programs, policies and practices as in effect from time to time. 

3.9 No Mitigation or Offset. In the event of any termination of the Executive’s employment, the Executive shall not be
required to seek other employment to mitigate damages, and any income earned by the Executive from other employment or self-employment shall not be offset against any obligations of the Company and its Affiliates to Executive under this Agreement.

 SECTION 4. Golden Parachute Tax. It is the intention of the Company and the Executive that the Executive receive the full
benefits available under this Agreement and any other agreement, plan, program, policy or similar arrangement providing for compensation or benefits in the event of a Change in Control. If a Change of Control occurs and a determination is made by
legislation, regulation, ruling directed to the Executive or the Company, or court decision that the aggregate amount of any payment made to the Executive hereunder, or pursuant to any plan, program, policy or similar arrangement of the Company (or
any subsidiary or affiliate or successor thereto) in connection with, on account of, or as a result of, such Change in Control constitutes “excess parachute payments” as defined in Code Section 280G (as well as any successor or
similar sections thereof), subject to the excise tax provisions of Code Section 4999 (as well as any successor or similar sections thereof), the Executive shall be entitled to receive from the Company, in addition to any other amounts payable
hereunder, a lump sum payment equal to 100% of such excise tax, plus an amount equal to the federal and state income tax, FICA, and Medicare taxes (based upon Executive’s projected marginal income tax rates) on such lump sum payment. The
amounts under this Section 4 shall be paid to Executive as soon as may be practicable after such final determination is made and in all events shall be made no later than the end of the Executive’s taxable year next following his taxable
year in which he remitted the related taxes. The Executive and the Company shall mutually and reasonably determine whether or not such determination has occurred or whether any appeal to such determination should be made. 

SECTION 5. Death During the Severance Period. If the Executive dies during the Severance Period, any unpaid amounts shall be paid to
the Executive’s estate within ten (10) days following the Executive’s death. The Executive’s right to outplacement services described in Section 3.4(b) and continued participation in the life insurance and accident plans
described in Section 3.5 shall terminate as of the date of the Executive’s death.

  
 6 













 SECTION 6. Amendments; Waiver. This Agreement contains the entire
agreement of the parties with respect to severance payments and benefits payable in connection with a Severance. No amendment or modification of this Agreement shall be valid unless evidenced by a written instrument executed by the parties hereto.
No waiver by either party of any breach by the other party of any provision or condition of this Agreement shall be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time. 

SECTION 7. General Provisions. 

7.1 Except as otherwise provided herein or by law, no right or interest of the Executive under this Agreement shall be assignable or
transferable, in whole or in part, either directly or by operation of law or otherwise, including without limitation by execution, levy, garnishment, attachment, pledge or in any manner; no attempted assignment or transfer thereof shall be
effective; and no right or interest of the Executive under this Agreement shall be liable for, or subject to, any obligation or liability of such Executive. When a payment is due under this Agreement to the Executive and the Executive is unable to
care for his or her affairs, payment may be made directly to his or her guardian or personal representative. 
 7.2 If the Company or any
Affiliate thereof is obligated by law or by contract to pay severance pay, a termination indemnity, notice pay, or the like, or if the Company or any Affiliate thereof is obligated by law or by contract to provide advance notice of separation
(“Notice Period”), then any severance pay under this Agreement shall be reduced by the amount of any such severance pay, termination indemnity, notice pay or the like, as applicable, and by the amount of any compensation received
during any Notice Period. If the Executive is entitled to benefits under the Workers Adjustment Retraining Notification Act of 1988, or any similar state or local statute or ordinance (collectively the “WARN Act”), severance pay
under this Agreement shall be reduced dollar-for-dollar by any benefits received pursuant to the WARN Act. 

7.3 Neither this Agreement, nor any modification thereof, nor the creation of any fund, trust or account, nor the payment of any benefits
shall be construed as giving the Executive, or any person whomsoever, the right to be retained in the service of the Company or any Affiliate thereof, and the Executive shall remain subject to discharge to the same extent as if this Agreement had
never existed. 
 7.4 If any provision of this Agreement shall be held invalid or unenforceable, such invalidity or unenforceability shall
not affect any other provisions hereof, and this Agreement shall be construed and enforced as if such provisions had not been included. 

7.5 This Agreement shall inure to the benefit of and be binding upon the heirs, executors, administrators, successors and assigns of the
parties, including the Executive, present and future, and any successor to the Company. 
 7.6 The headings and captions herein are provided
for reference and convenience only, shall not be considered part of this Agreement, and shall not be employed in the construction of this Agreement. 

  
 7 













 7.7 The Agreement shall not be required to be funded unless such funding is authorized by
the Board. Regardless of whether the Agreement is funded, the Executive shall not have any right to, or interest in, any assets of any Company which may be applied by the Company to the payment of benefits or other rights under this Agreement. For
purposes of clarity, nothing in this Section 7.7 shall be construed to relieve the Company or its Affiliates from their obligations to the Executive pursuant to this Agreement. 

7.8 All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given:
(a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five
(5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next-day
delivery, with written verification of receipt. All communications shall be sent: 
 (i) To the Executive, at: 

Last address in records of the Company 

(ii) To the Company, at: 
 Treace
Medical Concepts, Inc. 
 203 Fort Wade Rd., Suite 150 

Ponte Vedra, FL 32081 
 Attention:
General Counsel 
 7.9 This Agreement shall be governed, construed, interpreted and enforced in accordance with the substantive laws of the
State of Florida, without reference to principles of conflicts or choice of law under which the law of any other jurisdiction would apply. 

7.10 The Company may withhold from any payments due to the Executive hereunder such amounts as are required to be withheld under applicable
federal, state and local tax laws. 
 SECTION 8. Entire Agreement. This Agreement constitutes the entire agreement between the
parties hereto and supersedes all prior agreements, if any, understandings and arrangements, oral or written, between the parties hereto with respect to severance protection in connection with a Change in Control. 

SECTION 9. Disputes.  

9.1 Except as provided in the Restrictive Covenants Agreement, any dispute or controversy arising under, out of, in connection with or in
relation to this Agreement shall, at the election and upon written demand of any party to this Agreement, be finally determined and settled by arbitration in Jacksonville, Florida in accordance with the rules and procedures of the American
Arbitration Association, and judgment upon the award may be entered in any court having jurisdiction thereof. 

  
 8 













 9.2 If, with respect to any alleged failure by the Company or its Affiliates to comply with
any of the terms of this Agreement, the Executive hires legal counsel with respect to this Agreement or institutes any negotiations or institutes or responds to legal action to assert or defend the validity of, enforce his rights under, or recover
damages for breach of this Agreement, and thereafter the Company or its Affiliates are found in a judgment no longer subject to review or appeal to have breached this Agreement in any material respect, then the Company or its Affiliates (but not
both) shall reimburse the Executive for his actual expenses for attorneys’ fees and disbursements within thirty (30) days following receipt of any invoice for such expenses. 

SECTION 10. Section 409A of the Code. 

10.1 It is intended that this Agreement shall comply with or be exempt from the provisions of Section 409A of the Code and the Treasury
Regulations relating thereto, so as not to subject the Executive to the payment of additional taxes and interest under Section 409A of the Code. This Agreement shall be interpreted, operated, and administered in a manner consistent with and in
furtherance of this intent. 
 10.2 Any payment required under this Agreement that is payable in installment payments shall be deemed to be
a separate payment for purposes of Section 409A of the Code and the Treasury Regulations thereunder. 
 10.3 Notwithstanding any
provision to the contrary in this Agreement, no payment or distribution under this Agreement which constitutes an item of deferred compensation under Section 409A of the Code and becomes payable by reason of the Executive’s termination of
employment with the Company or its Affiliates or an Executive’s resignation for Good Reason will be made unless the Executive’s termination of employment or resignation (as applicable) constitutes a “separation from service” (as
such term is defined in Treasury Regulations issued under Section 409A of the Code). In addition and solely to the extent required by Code Section 409A, no such payment or distribution will be made to the Executive prior to the earlier of
(a) the expiration of the six (6)-month period measured from the date of the Executive’s “separation from service” (as such term is defined in Treasury Regulations issued under Section 409A of the Code) or (b) the date
of the Executive’s death, if the Executive is deemed at the time of such separation from service to be a “specified employee” within the meaning of that term under Section 409A(a)(2) of the Code and to the extent such delayed
commencement is otherwise required in order to avoid a prohibited distribution under Section 409A(a)(2) of the Code. All payments and benefits which had been delayed pursuant to the immediately preceding sentence shall be paid (without
interest) to the Executive in a lump sum upon expiration of such six-month period (or if earlier upon the Executive’s death). 

[SIGNATURE PAGE FOLLOWS] 

  
 9 













 IN WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date
first above written. 
  

	
	TREACE MEDICAL CONCEPTS, INC.
	
	                /s/ John T. Treace
	 John T. Treace
 Chief Executive
Officer

	
	EXECUTIVE
	
	                /s/ Jaime A. Frias
	Jaime A. Frias



  
 10 













 EXHIBIT A 

RELEASE AGREEMENT 
 (To be
signed after the Severance Date) 
 In return for payment of severance benefits pursuant to the Change in Control Severance Agreement
between Treace Medical Concepts, Inc., and me (the “CIC Severance Agreement”), I hereby generally and completely release Treace Medical Concepts, Inc. (“Treace”), its parent and subsidiary entities (collectively the
“Company”), and its or their directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, insurers, affiliates, and assigns (collectively “Released Parties”), from any and all
claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Release Agreement (the “Agreement”). This general
release includes, but is not limited to: (1) all claims arising out of or in any way related to my employment with the Company or the termination of that employment; (2) all claims related to my compensation or benefits from the Company,
including wages, salary, bonuses, commissions, vacation pay, expense reimbursements (to the extent permitted by applicable law), severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (3) all
claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including without limitation claims for fraud, defamation, emotional distress, and discharge in
violation of public policy; and (5) all federal, state, and local statutory claims, including without limitation claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights
Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), the federal Worker Adjustment and Retraining Notification Act (as
amended) and similar laws in other jurisdictions, the Employee Retirement Income Security Act of 1974 (as amended), the Family and Medical Leave Act of 1993, and any similar laws in other jurisdictions; provided, however, that this Release does not
waive, release or otherwise discharge any claim or cause of action arising after the date I sign this Agreement. 
 This Agreement includes
a release of claims of discrimination or retaliation on the basis of workers’ compensation status, but does not include workers’ compensation claims. Excluded from this Agreement are any claims which by law cannot be waived in a private
agreement between employer and employee, including but not limited to the right to file a charge with or participate in an investigation conducted by the Equal Employment Opportunity Commission (“EEOC”) or any state or local fair
employment practices agency. I waive, however, any right to any monetary recovery or other relief should the EEOC or any other agency pursue a claim on my behalf. 

I acknowledge and represent that I have not suffered any age or other discrimination, harassment, retaliation, or wrongful treatment by any
Released Party. I also acknowledge and represent that I have not been denied any rights including, but not limited to, rights to a leave or reinstatement from a leave under the Family and Medical Leave Act of 1993, the Uniformed Services Employment
and Reemployment Rights Act of 1994, or any similar law of any jurisdiction. 

  
 11 













 I agree that I am voluntarily executing this Agreement. I acknowledge that I am knowingly
and voluntarily waiving and releasing any rights I may have under the ADEA, as amended by the Older Workers Benefit Protection Act of 1990, and that the consideration given for this Release is in addition to anything of value to which I was already
entitled. I further acknowledge that I have been advised by this writing, as required by the ADEA, that: (a) my waiver and release specified in this paragraph does not apply to any rights or claims that may arise after the date I sign this
Agreement; (b) I have been advised to consult with an attorney prior to signing this Agreement; (c) if a “Severance” (as defined in the CIC Severance Agreement) involves an employment termination program, I have received a
disclosure from the Company that includes a description of the class, unit or group of individuals covered by the program, the eligibility factors for such program, and any time limits applicable to such program and a list of job titles and ages of
all employees selected for this group termination and ages of those individuals in the same job classification or organizational unit who were not selected for termination; (d) I have at least twenty-one
(21) or forty-five (45) days, depending on the circumstances of my Severance, from the date that I receive this Release (although I may choose to sign it any time on or after my Severance Date (as defined in the CIC Severance Agreement))
to consider the release; (e) I have seven (7) calendar days after I sign this Release to revoke it (“Revocation Period”) by sending my revocation to the Human Resources Manager in writing at 203 Fort Wade Rd., Suite 150,
Ponte Vedra, FL 32081; and (f) this Agreement will not be effective until I have signed it and returned it to the Company’s Corporate Secretary and the Revocation Period has expired. 

I UNDERSTAND THAT THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 

 

					
	  
	  	  

	JAIME A. FRIAS	  	Date


  
 12 













 EXHIBIT B 

RESTRICTIVE COVENANTS AGREEMENT 
 See
attached Employee Confidentiality, Nonsolicitation and Noncompete Agreement between Executive and the Company dated July 17, 2017. 

  
 13