EX-10.5




 Exhibit 10.5 

INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE CANO HEALTH, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Optionee:	  	  
	  	
			
	No. of Option Shares:	  	  
	  	
			
	Option Exercise Price per Share:	  	$___________________________________	  	
		  	[FMV on Grant Date (110% of FMV if a 10% owner)]
			
	Grant Date:	  	  
	  	
			
	Expiration Date:	  	  
	  	
		  	[up to 10 years (5 years if a 10% owner)]

 Pursuant to the Cano Health, Inc. 2021 Stock Option and Incentive Plan, as amended through the date hereof
(the “Plan”), Cano Health, Inc. (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares
specified above (the “Option Shares”) of Class A Common Stock, par value $0.001 per share of the Company (the “Stock”) at the Option Exercise Price per Share specified above, subject to the terms and conditions set forth
herein and in the Plan. 
 1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have
become vested and exercisable. Except as set forth below, and subject to the discretion of the Administrator (as described in Section 2 of the Plan) to accelerate the vesting or exercisability schedule hereunder, this Stock Option shall be
vested and exercisable with respect to the following number of Option Shares on the dates indicated so long as the Optionee continuously remains an employee of the Company or a Subsidiary through such dates: 

 

			
	 Incremental Number of
Option Shares
Exercisable1
	  	 Exercisability Date

	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    

  

	1 	 As explained in Section 5(f) of the Plan, to the extent the aggregate Fair Market Value (determined as of
the Grant Date) of the shares of Stock with respect to which this Stock Option becomes exercisable for the first time by the Optionee during any calendar year exceeds $100,000, the portion of this Award in excess of such limit will be treated as a Non-Qualified Stock Option and will be taxable upon exercise. 













 Once vested and exercisable, this Stock Option shall continue to be exercisable at any time
or times prior to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. 
 2. Manner of
Exercise. 
 (a) The Optionee may exercise this Stock Option only in the following manner: 

From time to time on or prior to the Expiration Date of this Stock Option, the Optionee may give written notice to the Administrator of his or
her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be purchased. 

Payment of the Option Exercise Price for the Option Shares, and all taxes (if any) due in connection with the Option exercise, may be made by
one or more of the following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by
the Optionee on the open market or that are beneficially owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; (iii) by
the Optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the Option Exercise Price,
and all taxes (if any) due in connection with the Option exercise, provided that in the event the Optionee chooses to pay the Option Exercise Price and applicable taxes as so provided, the Optionee and the broker shall comply with such procedures
and enter into such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment procedure; or (iv) a combination of (i), (ii) and (iii) above. Payment instruments will be received
subject to collection. 
 The transfer to the Optionee on the records of the Company or of the transfer agent of the Option Shares will be
contingent upon (i) the Company’s receipt from the Optionee of the full Option Exercise Price for the Option Shares, and all applicable taxes, as set forth above, (ii) the fulfillment of any other requirements contained herein or in
the Plan or in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of Stock to be purchased pursuant to
the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the Option Exercise Price and applicable taxes by
previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 

  
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 (b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to
the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof
and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of
Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares of Stock to the Optionee, and the Optionee’s name
shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) The minimum number of shares of Stock with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless
the number of shares with respect to which this Stock Option is being exercised is the total number of Option Shares subject to exercise under this Stock Option at the time. 

(d) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Employment. If the Optionee’s employment with the Company and its Subsidiaries (as defined in the
Plan) terminates, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below; 
 (a)
Termination Due to Death. If the Optionee’s employment with the Company and its Subsidiaries terminates by reason of the Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the
date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on
the date of death shall terminate immediately and be of no further force or effect. 
 (b) Termination Due to Disability. If the
Optionee’s employment with the Company and its Subsidiaries terminates by reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the
date of such termination, may thereafter be exercised by the Optionee for a period of 12 months from the date of disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of disability
shall terminate immediately and be of no further force or effect. 
 (c) Termination for Cause. If the Optionee’s employment
with the Company or a Subsidiary terminates for Cause, any portion of this Stock Option outstanding on such date, whether or not vested or exercisable, or with respect to which the Company has not yet issued shares of Stock, shall terminate
immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment or other service agreement between the Company and the Optionee, a determination by the Administrator
that the Optionee shall be dismissed as a result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for or plea of nolo contendere by the Optionee to a
felony or a crime involving moral turpitude; or (iii) any material misconduct or willful and deliberate non-performance (other than by reason of disability) by the Optionee of the Optionee’s duties
to the Company. 

  
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 (d) Other Termination. If the Optionee’s employment with the Company and its
Subsidiaries terminates for any reason other than the Optionee’s death, the Optionee’s disability, or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be exercised,
to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination shall
terminate immediately and be of no further force or effect. 
 The Administrator’s determination of the reason for termination of the
Optionee’s employment with the Company or a Subsidiary shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all of
the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified
herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable
and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by
the Optionee’s legal representative or legatee. 
 6. Status of the Stock Option. This Stock Option is intended to qualify as an
“incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), but the Company does not represent or warrant that this Stock Option qualifies as such. The Optionee should consult
with his or her own tax advisors regarding the tax effects of this Stock Option and the requirements necessary to obtain favorable income tax treatment under Section 422 of the Code, including, but not limited to, holding period requirements
and that this Stock Option must be exercised within three months after termination of employment as an employee (or 12 months in the case of death or disability) to qualify as an “incentive stock option.” To the extent any
portion of this Stock Option does not so qualify as an “incentive stock option,” such portion shall be deemed to be a non-qualified stock option. If the Optionee intends to dispose or does dispose
(whether by sale, gift, transfer or otherwise) of any shares of Stock within the one-year period beginning on the date after the transfer of such shares of Stock to him or her, or within the two-year period beginning on the Grant Date of this Stock Option, he or she will so notify the Company within 30 days after such disposition. 

7. Tax Withholding. The Optionee shall, as a condition to the exercise of this Stock Option, pay to the Company or make arrangements
satisfactory to the Administrator for payment of the maximum statutory amount of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall also have the authority to cause the maximum
statutory amount of any federal, state or local tax withholding obligation that arises in connection with this Stock Option Award to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Optionee a
number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Optionee, the number of shares of Stock
necessary to satisfy the Federal, state and local taxes required by law to be withheld from the Optionee on account of such transfer; or (iii) deducting such withholding amount from other compensation due to the Optionee from the Company or a
Subsidiary. 

  
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 8. No Obligation to Continue Employment. Neither the Company nor any Subsidiary is
obligated by or as a result of the Plan or this Agreement to continue the Optionee’s employment with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary
to terminate the Optionee’s employment with the Company or a Subsidiary at any time. 
 9. Integration. This Agreement
constitutes the entire agreement between the parties with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

10. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Optionee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

11. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other pay in writing. 

 

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:



  
 5 












 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the
undersigned. Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 

 

			
	Dated: ____________________	  	  

		  	Optionee’s Signature
		
		  	Optionee’s name and address:
		  	  

		  	  

		  	  



  
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 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR COMPANY EMPLOYEES 

UNDER THE CANO HEALTH, INC. 2021 STOCK OPTION AND INCENTIVE PLAN 

 

					
	Name of Optionee:	  	  
	  	
			
	No. of Option Shares:	  	  
	  	
			
	Option Exercise Price per Share:	  	$___________________________________	  	
		  	[FMV on Grant Date]
			
	Grant Date:	  	  
	  	
			
	Expiration Date:	  	  
	  	
		  	[No more than 10 years]

 Pursuant to the Cano Health, Inc. 2021 Stock Option and Incentive Plan, as amended through the date hereof
(the “Plan”), Cano Health, Inc. (the “Company”) hereby grants to the Optionee named above an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares
specified above (the “Option Shares”) of Class A Common Stock, par value $0.001 per share of the Company (the “Stock”) at the Option Exercise Price per Share specified above, subject to the terms and conditions set forth
herein and in the Plan. This Stock Option is not intended to be an “incentive stock option” under Section 422 of the Internal Revenue Code of 1986, as amended. 

1. Exercisability Schedule. No portion of this Stock Option may be exercised until such portion shall have become vested and
exercisable. Except as set forth below, and subject to the discretion of the Administrator (as described in Section 2 of the Plan) to accelerate the exercisability schedule hereunder, this Stock Option shall be vested and exercisable with
respect to the following number of Option Shares on the dates indicated so long as the Optionee continuously remains an employee or service provider of the Company or a Subsidiary through such dates: 

 

			
	 Incremental Number of
Option Shares
Exercisable
	  	 Vesting/Exercisability Date

	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    












 Once vested and exercisable, this Stock Option shall continue to be exercisable at any time
or times prior to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. 
 2. Manner of
Exercise. 
 (a) The Optionee may exercise this Stock Option only in the following manner: 

From time to time on or prior to the Expiration Date of this Stock Option, the Optionee may give written notice to the Administrator of his or
her election to purchase some or all of the Option Shares purchasable at the time of such notice. This notice shall specify the number of Option Shares to be purchased. 

Payment of the Option Exercise Price for the Option Shares, and all taxes due in connection with the Option exercise, may be made by one or
more of the following methods: (i) in cash, by certified or bank check or other instrument acceptable to the Administrator; (ii) through the delivery (or attestation to the ownership) of shares of Stock that have been purchased by the
Optionee on the open market or that are beneficially owned by the Optionee and are not then subject to any restrictions under any Company plan and that otherwise satisfy any holding periods as may be required by the Administrator; (iii) by the
Optionee delivering to the Company a properly executed exercise notice together with irrevocable instructions to a broker to promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the Option Exercise Price, and
all taxes due in connection with the Option exercise, provided that in the event the Optionee chooses to pay the Option Exercise Price and applicable taxes as so provided, the Optionee and the broker shall comply with such procedures and enter into
such agreements of indemnity and other agreements as the Administrator shall prescribe as a condition of such payment procedure; (iv) by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of
Stock issuable upon exercise by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate Option Exercise Price and applicable taxes; or (v) a combination of (i), (ii), (iii) and (iv) above. Payment
instruments will be received subject to collection. 
 The transfer to the Optionee on the records of the Company or of the transfer agent
of the Option Shares will be contingent upon (i) the Company’s receipt from the Optionee of the full Option Exercise Price for the Option Shares, and all applicable taxes, as set forth above, (ii) the fulfillment of any other
requirements contained herein or in the Plan or in any other agreement or provision of laws, and (iii) the receipt by the Company of any agreement, statement or other evidence that the Company may require to satisfy itself that the issuance of
Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations. In the event the Optionee chooses to pay the Option Exercise
Price and applicable taxes by previously-owned shares of Stock through the attestation method, the number of shares of Stock transferred to the Optionee upon the exercise of the Stock Option shall be net of the Shares attested to. 

  
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 (b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to
the Optionee on the records of the Company or of the transfer agent upon compliance to the satisfaction of the Administrator with all requirements under applicable laws or regulations in connection with such transfer and with the requirements hereof
and of the Plan. The determination of the Administrator as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of
Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares of Stock to the Optionee, and the Optionee’s name
shall have been entered as the stockholder of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 

(c) The minimum number of shares of Stock with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless
the number of shares with respect to which this Stock Option is being exercised is the total number of Option Shares subject to exercise under this Stock Option at the time. 

(d) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date
hereof. 
 3. Termination of Employment/Service. If the Optionee’s employment or service with the Company or a Subsidiary (as
defined in the Plan) terminates, the period within which to exercise the Stock Option may be subject to earlier termination as set forth below: 

(a) Termination Due to Death. If the Optionee’s employment and service with the Company and its Subsidiaries terminates by reason
of the Optionee’s death, any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of death, may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months
from the date of death or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of death shall terminate immediately and be of no further force or effect. 

(b) Termination Due to Disability. If the Optionee’s employment and service with the Company and its Subsidiaries terminates by
reason of the Optionee’s disability (as determined by the Administrator), any portion of this Stock Option outstanding on such date, to the extent exercisable on the date of such termination, may thereafter be exercised by the Optionee for a
period of 12 months from the date of disability or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s employment or service with the Company or a Subsidiary terminates for Cause, any
portion of this Stock Option outstanding on such date, whether or not vested or exercisable, and any Stock Option with respect to which the Company has not yet issued shares of Stock, shall terminate immediately and be of no further force and
effect. For purposes hereof, “Cause” shall mean, unless otherwise provided in an employment or other service agreement between the Company and the Optionee, a determination by the Administrator that the Optionee shall be dismissed as a
result of (i) any material breach by the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for or plea of nolo contendere by the Optionee to a felony or a crime involving moral turpitude; or
(iii) any material misconduct or willful and deliberate non-performance (other than by reason of disability) by the Optionee of the Optionee’s duties to the Company. 

  
 3 












 (d) Other Termination. If the Optionee’s employment and service with the Company
and its Subsidiaries terminates for any reason other than the Optionee’s death, the Optionee’s disability or Cause, and unless otherwise determined by the Administrator, any portion of this Stock Option outstanding on such date may be
exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any portion of this Stock Option that is not exercisable on the date of termination
shall terminate immediately and be of no further force or effect. 
 The Administrator’s determination of the reason for termination of
the Optionee’s employment or service with the Company or a Subsidiary shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all
the terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified
herein. 
 5. Transferability. This Agreement is personal to the Optionee, is non-assignable
and is not transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only by
the Optionee’s legal representative or legatee. 
 6. Tax Withholding. The Optionee shall, as a condition to the exercise of
this Stock Option, pay to the Company or make arrangements satisfactory to the Administrator for payment of the maximum statutory amount of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The
Company shall also have the authority to cause the maximum statutory amount of any federal, state or local tax withholding obligation that arises in connection with this Stock Option Award to be satisfied, in whole or in part, by
(i) withholding from shares of Stock to be issued to the Optionee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; (ii) causing its transfer agent to sell from the number of
shares of Stock to be issued to the Optionee, the number of shares of Stock necessary to satisfy the withholding amount due; or (iii) deducting such withholding amount from other compensation due to the Optionee from the Company or a
Subsidiary. 
 7. No Obligation to Continue Employment. Neither the Company nor any Subsidiary is obligated by or as a result of the
Plan or this Agreement to continue the Optionee’s employment or service with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the
Optionee’s employment or service with the Company or a Subsidiary at any time. 

  
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 8. Integration. This Agreement constitutes the entire agreement between the parties
with respect to this Stock Option and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

9. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Optionee
(i) authorizes the Relevant Companies to collect, process, register and transfer to other Relevant Companies all Relevant Information; (ii) waives any privacy rights the Optionee may have with respect to the Relevant Information;
(iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The
Optionee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

  
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 10. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or the applicable Subsidiary or, in either case, at such other address as one party may subsequently furnish to the other party in
writing. 
  

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:


 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Optionee (including through an online acceptance process) is acceptable. 
  

			
	Dated: ____________________	  	  

		  	Optionee’s Signature
		
		  	Optionee’s name and address:
		  	  

		  	  

		  	  



  
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 RESTRICTED STOCK AWARD AGREEMENT 

UNDER THE CANO HEALTH, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Grantee:	 	___________________________________________	 	
			
	No. of Shares:	 	_____________________	 	
			
	Grant Date:	 	_____________________	 	

 Pursuant to the Cano Health, Inc. 2021 Stock Option and Incentive Plan, as amended through the date hereof
(the “Plan”), Cano Health, Inc. (the “Company”) hereby grants a Restricted Stock Award (an “Award”) to the Grantee named above. Upon acceptance of this Award, the Grantee shall receive the number of shares of
Class A Common Stock, par value $0.001 per share (the “Stock”), of the Company specified above, subject to the restrictions and conditions set forth herein and in the Plan. The Company acknowledges the receipt from the Grantee of
consideration with respect to the par value of the Stock in the form of cash, past or future services rendered to the Company by the Grantee or such other form of consideration as is acceptable to the Administrator. 

1. Award. The shares of Restricted Stock awarded hereunder shall be issued and held by the Company’s transfer agent in book entry
form, and the Grantee’s name shall be entered as the stockholder of record on the books of the Company. Thereupon, the Grantee shall have all the rights of a stockholder with respect to such shares, including voting and dividend rights,
subject, however, to the restrictions and conditions specified in Paragraph 2 below. The Grantee shall (i) sign and deliver to the Company a copy of this Award Agreement and (ii) deliver to the Company a stock power endorsed in blank.

 2. Restrictions and Conditions. 

(a) Any book entries for the shares of Restricted Stock granted herein shall bear an appropriate legend, as determined by the Administrator in
its sole discretion, to the effect that such shares are subject to restrictions as set forth herein and in the Plan. 
 (b) Shares of
Restricted Stock granted herein may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed of by the Grantee prior to vesting. 

(c) If the Grantee’s employment with the Company and its Subsidiaries/service as a member of the Board is voluntarily or involuntarily
terminated for any reason (including death) prior to vesting of shares of Restricted Stock granted herein, all shares of Restricted Stock shall immediately and automatically be forfeited and returned to the Company. 











 3. Vesting of Restricted Stock. The restrictions and conditions in Paragraph 2
of this Agreement shall lapse on the Vesting Date or Dates specified in the following schedule so long as the Grantee remains an employee of the Company or a Subsidiary/in service as a member of the Board on such Dates. If a series of Vesting Dates
is specified, then the restrictions and conditions in Paragraph 2 shall lapse only with respect to the number of shares of Restricted Stock specified as vested on such date. 

 

			
	 Incremental Number
of Shares
Vested
	  	 Vesting Date

	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    
	___________ (___%)	  	                    

 Subsequent to such Vesting Date or Dates, the shares of Stock on which all restrictions and conditions have
lapsed shall no longer be deemed Restricted Stock. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 3. 

4. Dividends. Dividends on shares of Restricted Stock shall be paid currently to the Grantee. 

5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Award shall be subject to and governed by all the terms
and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein. 

6. Transferability. This Agreement is personal to the Grantee, is non-assignable and is not
transferable in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. 
 7. Tax
Withholding. The Grantee shall, not later than the date as of which the receipt of this Award becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any
Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from
shares of Stock to be issued or released by the transfer agent a number of shares of Stock with an aggregate Fair Market Value that would satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares
of Stock to be issued or released by the transfer agent, the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law to be withheld from the Grantee on account of such transfer. 

8. Election Under Section 83(b). The Grantee and the Company hereby agree that the Grantee may, within 30 days
following the Grant Date of this Award, file with the Internal Revenue Service and the Company an election under Section 83(b) of the Code. In the event the Grantee makes such an election, he or she agrees to provide a copy of the election to
the Company. The Grantee acknowledges that he or she is responsible for obtaining the advice of his or her tax advisors with regard to the Section 83(b) election and that he or she is relying solely on such advisors and not on any statements or
representations of the Company or any of its agents with regard to such election. 

  
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 9. No Obligation to Continue Employment or Service. Neither the Company nor any
Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Grantee in employment or service and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate
the employment or service of the Grantee at any time. 
 10. Integration. This Agreement constitutes the entire agreement between the
parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

11. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Grantee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Grantee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Grantee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

  
 3 












 12. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:


 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

			
	Dated: ____________________	  	  

		  	Grantee’s Signature
		
		  	Grantee’s name and address:
		  	  

		  	  

		  	  



  
 4 












 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR NON-EMPLOYEE DIRECTORS 

UNDER THE CANO HEALTH, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 

					
	Name of Grantee:	 	___________________________________________	 	
			
	No. of Restricted Stock Units:	 	_____________________	 	
			
	Grant Date:	 	_____________________	 	

 Pursuant to the Cano Health, Inc. 2021 Stock Option and Incentive Plan, as amended through the date hereof
(the “Plan”), Cano Health, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above. Each Restricted Stock Unit shall relate to one share
of Class A Common Stock, par value $0.001 per share (the “Stock”), of the Company. 
 1. Restrictions on Transfer of
Award. This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise
encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Paragraph 2 of this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement.

 2. Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the
Vesting Date or Dates specified in the following schedule so long as the Grantee remains in service as a member of the Board on such Vesting Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in Paragraph 1
shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

			
	 Incremental Number of

Restricted Stock Units Vested
	  	 Vesting Date

	_____________ (25%)	  	                    
	_____________ (25%)	  	                    
	_____________ (25%)	  	                    
	_____________ (25%)	  	                    

 Notwithstanding anything to the contrary herein or in the Plan, all outstanding Restricted Stock Units shall
become fully vested upon a Sale Event. The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2. 











 3. Termination of Service as a Non-Employee
Director. If the Grantee’s service with the Company as a member of the Board terminates for any reason (including death or disability) prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock
Units that have not vested as of such date shall automatically and without notice terminate and be forfeited, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further
rights or interests in such unvested Restricted Stock Units. 
 4. Issuance of Shares of Stock. As soon as practicable following each
Vesting Date (but in no event later than two and one-half months after the end of the year in which the Vesting Date occurs), the Company shall issue to the Grantee the number of shares of Stock equal to the
aggregate number of Restricted Stock Units that have vested pursuant to Paragraph 2 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the
terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 6. Section 409A of the Code. This Agreement shall be interpreted in such a manner that all provisions relating
to the settlement of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A of the Code. 

7. No Obligation to Continue as a Non-Employee Director. Neither the Plan nor this Award
confers upon the Grantee any rights with respect to continuance as a Non-Employee Director. 
 8.
Integration. This Agreement constitutes the entire agreement between the parties with respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 

9. Data Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the
Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may process any and all personal or professional data, including but not limited to Social Security or other identification number,
home address and telephone number, date of birth and other information that is necessary or desirable for the administration of the Plan and/or this Agreement (the “Relevant Information”). By entering into this Agreement, the Grantee
(i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any privacy rights the Grantee may have with respect to the Relevant Information; (iii) authorizes
the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information to any jurisdiction in which the Relevant Companies consider appropriate. The Grantee shall have
access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

  
 2 












 10. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:


 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

			
	Dated: ____________________	  	  

		  	Grantee’s Signature
		
		  	Grantee’s name and address:
		  	  

		  	  

		  	  



  
 3 












 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR COMPANY EMPLOYEES 

UNDER THE CANO HEALTH, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

					
	Name of Grantee:	 	___________________________________________	 	
			
	No. of Restricted Stock Units:	 	_____________________	 	
			
	Grant Date:	 	_____________________	 	

 Pursuant to the Cano Health, Inc. 2021 Stock Option and Incentive Plan, as amended through the date hereof
(the “Plan”), Cano Health, Inc. (the “Company”) hereby grants an award of the number of Restricted Stock Units listed above (an “Award”) to the Grantee named above. Each Restricted Stock Unit shall relate to one share
of Class A Common Stock, par value $0.001 per share (the “Stock”), of the Company. 
 1. Restrictions on Transfer of
Award. This Award may not be sold, transferred, pledged, assigned or otherwise encumbered or disposed of by the Grantee, and any shares of Stock issuable with respect to the Award may not be sold, transferred, pledged, assigned or otherwise
encumbered or disposed of until (i) the Restricted Stock Units have vested as provided in Paragraph 2 of this Agreement and (ii) shares of Stock have been issued to the Grantee in accordance with the terms of the Plan and this Agreement.

 2. Vesting of Restricted Stock Units. The restrictions and conditions of Paragraph 1 of this Agreement shall lapse on the
Vesting Date or Dates specified in the following schedule so long as the Grantee remains an employee of the Company or a Subsidiary on such Vesting Dates. If a series of Vesting Dates is specified, then the restrictions and conditions in
Paragraph 1 shall lapse only with respect to the number of Restricted Stock Units specified as vested on such date. 
  

			
	 Incremental Number of

Restricted Stock Units Vested
	  	 Vesting Date

	_____________ (__%)	  	                    
	_____________ (__%)	  	                    
	_____________ (__%)	  	                    
	_____________ (__%)	  	                    
	_____________ (__%)	  	                    

 The Administrator may at any time accelerate the vesting schedule specified in this Paragraph 2. 











 3. Termination of Employment. If the Grantee’s employment with the Company or a
Subsidiary terminates for any reason (including death or disability) prior to the satisfaction of the vesting conditions set forth in Paragraph 2 above, any Restricted Stock Units that have not vested as of such date shall automatically and without
notice terminate and be forfeited, and neither the Grantee nor any of his or her successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Restricted Stock Units. 

4. Issuance of Shares of Stock. As soon as practicable following each Vesting Date (but in no event later than two and one-half months after the end of the year in which the Vesting Date occurs), the Company shall issue to the Grantee the number of shares of Stock equal to the aggregate number of Restricted Stock Units that have
vested pursuant to Paragraph 2 of this Agreement on such date and the Grantee shall thereafter have all the rights of a stockholder of the Company with respect to such shares. 

5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Agreement shall be subject to and governed by all the
terms and conditions of the Plan, including the powers of the Administrator set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is specified herein.

 6. Tax Withholding. The Grantee shall, not later than the date as of which the receipt of this Award becomes a taxable event for
Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Administrator for payment of any Federal, state, and local taxes required by law to be withheld on account of such taxable event. The Company shall have the
authority to cause the required tax withholding obligation to be satisfied, in whole or in part, by (i) withholding from shares of Stock to be issued to the Grantee a number of shares of Stock with an aggregate Fair Market Value that would
satisfy the withholding amount due; or (ii) causing its transfer agent to sell from the number of shares of Stock to be issued to the Grantee, the number of shares of Stock necessary to satisfy the Federal, state and local taxes required by law
to be withheld from the Grantee on account of such transfer. 
 7. Section 409A of the Code. This Agreement shall
be interpreted in such a manner that all provisions relating to the settlement of the Award are exempt from the requirements of Section 409A of the Code as “short-term deferrals” as described in Section 409A of the Code. 

8. No Obligation to Continue Employment. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this
Agreement to continue the Grantee’s employment with the Company or a Subsidiary and neither the Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the Grantee’s employment with
the Company or a Subsidiary at any time. 
 9. Integration. This Agreement constitutes the entire agreement between the parties with
respect to this Award and supersedes all prior agreements and discussions between the parties concerning such subject matter. 
 10. Data
Privacy Consent. In order to administer the Plan and this Agreement and to implement or structure future equity grants, the Company, its subsidiaries and affiliates and certain agents thereof (together, the “Relevant Companies”) may
process any and all personal or professional data, including but not limited to Social Security or other identification number, home address and telephone number, date of birth and other information that is necessary or desirable for the
administration of the Plan and/or this Agreement (the “Relevant Information”). 

  
 2 












 
By entering into this Agreement, the Grantee (i) authorizes the Company to collect, process, register and transfer to the Relevant Companies all Relevant Information; (ii) waives any
privacy rights the Grantee may have with respect to the Relevant Information; (iii) authorizes the Relevant Companies to store and transmit such information in electronic form; and (iv) authorizes the transfer of the Relevant Information
to any jurisdiction in which the Relevant Companies consider appropriate. The Grantee shall have access to, and the right to change, the Relevant Information. Relevant Information will only be used in accordance with applicable law. 

11. Notices. Notices hereunder shall be mailed or delivered to the Company at its principal place of business and shall be mailed or
delivered to the Grantee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

 

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:


 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the undersigned.
Electronic acceptance of this Agreement pursuant to the Company’s instructions to the Grantee (including through an online acceptance process) is acceptable. 
  

			
	Dated: ____________________	  	  

		  	Grantee’s Signature
		
		  	Grantee’s name and address:
		  	  

		  	  

		  	  



  
 3