Document:

EX-10.5

 Exhibit 10.5 

FOGO HOSPITALITY INC. 

2022 LONG-TERM INCENTIVE COMPENSATION PLAN 

 FOGO HOSPITALITY INC. 

2022 LONG-TERM INCENTIVE COMPENSATION PLAN 

ARTICLE I 
 GENERAL

 1.1 Purpose 
 The purpose of the
Fogo Hospitality Inc. Long-Term Incentive Compensation Plan (as amended from time to time, the “Plan”) is to help Fogo (as hereinafter defined): (1) attract, retain and motivate designated Participants (as hereinafter
defined) of Fogo Hospitality Inc., a Delaware corporation (“Fogo”)); (2) align the interests of such persons with Fogo’s stockholders; and (3) promote ownership of Fogo’s equity. 

1.2 Definitions of Certain Terms 
 For
purposes of this Plan, the following terms have the meanings set forth below: 
 1.2.1 “Acquisition Awards” has the meaning set
forth in Section 1.6.1. 
 1.2.2 “Award” means an award made pursuant to the Plan. 

1.2.3 “Award Agreement” means the written document by which each Award is evidenced, and which may, but need not be (as determined by
the Committee) executed or acknowledged by a Participant as a condition to receiving an Award or the benefits under an Award, and which sets forth the terms and provisions applicable to Awards granted under the Plan to such Participant. Any
reference herein to an agreement in writing will be deemed to include an electronic writing to the extent permitted by applicable law. 
 1.2.4
“Board” means the Board of Directors of Fogo. 
 1.2.5 “Business Combination” has the meaning provided in
the definition of Change in Control. 
 1.2.6 “Cause” means (a) with respect to a Participant employed pursuant to a written
employment agreement which agreement includes a definition of “Cause,” “Cause” as defined in that agreement or (b) with respect to any other Participant, the occurrence of any of the following : (i) such Participant’s
conviction of, or plea of guilty or no contest to, any felony or any crime involving fraud, dishonesty or moral turpitude under the laws of the United States or any state thereof or under the laws of any other jurisdiction, (ii) such
Participant’s attempted commission of, or participation in, a fraud or theft against Fogo or any client of Fogo, (iii) such Participant’s engagement in gross misconduct that causes financial or reputation harm to Fogo, (iv) such
Participant’s repeated failure to substantially perform his or her duties and responsibilities to Fogo (other than failure resulting from incapacity due to mental or physical illness or injury or from any permitted leave required by law), (v)
such Participant’s material violation of any contract or agreement between the Participant and Fogo or any written Company policy, (vi) such Participant’s habitual abuse of narcotics or (vii) such Participant’s
disqualification or bar by any governmental or self-regulatory authority from serving in the capacity required by his or her job description or such Participant’s loss of any governmental or self-regulatory license that is reasonably necessary
for such Participant to perform his or her duties or responsibilities, in each case as an Employee or a Consultant, as applicable, of Fogo. 

 1.2.7 “Certificate” means a stock certificate (or other appropriate document or
evidence of ownership) representing Shares. 
 1.2.8 “Change in Control” means, except in connection with any initial public
offering of the Common Stock, the occurrence of any of the following events after the completion of the initial public offering of Fogo: 
 (a) during any
period of not more than 24 months, individuals who constitute the Board as of the beginning of the period (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the Board, provided
that any person becoming a director subsequent to the beginning of such period, whose election or nomination for election was approved by a vote of at least two-thirds of the Incumbent Directors then on
the Board (either by a specific vote or by approval of the proxy statement of Fogo in which such person is named as a nominee for director, without written objection to such nomination) will be an Incumbent Director; provided, however,
that no individual initially elected or nominated as a director of Fogo as a result of an actual or publicly threatened election contest with respect to directors or as a result of any other actual or publicly threatened solicitation of proxies by
or on behalf of any person other than the Board will be deemed to be an Incumbent Director; 
 (b) any “person” (as such term is defined in
Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), becomes a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act),
directly or indirectly, of securities of Fogo representing 50% or more of the combined voting power of Fogo’s then-outstanding securities eligible to vote for the election of the Board (“Company Voting Securities”);
provided, however, that the event described in this paragraph (b) will not be deemed to be a Change in Control by virtue of the ownership, or acquisition, of Company Voting Securities: (A) by Fogo, (B) by
Rhône Capital LLC and its respective affiliates, (C) by any employee benefit plan (or related trust) sponsored or maintained by Fogo, (D) by any underwriter temporarily holding securities pursuant to an offering of such securities or
(E) pursuant to a Non-Qualifying Transaction (as defined in paragraph (c) of this definition); 
 (c) the
consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving Fogo that requires the approval of Fogo’s stockholders, whether for such transaction or the issuance of securities in the
transaction (a “Business Combination”), unless immediately following such Business Combination: (A) more than 50% of the total voting power of (x) the entity resulting from such Business Combination (the
“Surviving Entity”), or (y) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of at least 95% of the voting power, is represented by Company Voting Securities that were
outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof
is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Business Combination, (B) no person (other than 

  
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any employee benefit plan (or related trust) sponsored or maintained by the Surviving Entity or the parent), becomes the beneficial owner, directly or indirectly, of 50% or more of the total
voting power of the outstanding voting securities eligible to elect directors of the parent (or, if there is no parent, the Surviving Entity) and (C) at least a majority of the members of the board of directors of the parent (or, if there is no
parent, the Surviving Entity) following the consummation of the Business Combination were Incumbent Directors at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination (any Business
Combination which satisfies all of the criteria specified in (A), (B) and (C) of this paragraph (c) will be deemed to be a “Non-Qualifying Transaction”); or 

(d) the consummation of a sale of all or substantially all of Fogo’s assets (other than to an affiliate of Fogo); or 

(e) Fogo’s stockholders approve a plan of complete liquidation or dissolution of Fogo. 

Notwithstanding the foregoing, a Change in Control will not be deemed to occur solely because any person acquires beneficial ownership of more
than 50% of Fogo Voting Securities as a result of the acquisition of Company Voting Securities by Fogo which reduces the number of Company Voting Securities outstanding; provided that if after such acquisition by Fogo such person
becomes the beneficial owner of additional Company Voting Securities that increases the percentage of outstanding Company Voting Securities beneficially owned by such person, a Change in Control will then occur. 

1.2.9 “Code” means the Internal Revenue Code of 1986, as amended from time to time, or any successor thereto, and the applicable
rulings and regulations thereunder. 
 1.2.10 “Committee” has the meaning set forth in Section 1.3.1. 

1.2.11 “Common Stock” means the common stock of Fogo par value $0.01 per share, and any other securities or property issued in
exchange therefor or in lieu thereof pursuant to Section 1.6.3. 
 1.2.12 “Company” means Fogo Hospitality
Inc. and any Subsidiary, and any successor entity thereto. 
 1.2.13 “Company Voting Securities” has the meaning provided in the
definition of Change in Control. 
 1.2.14 “Consent” has the meaning set forth in Section 3.3.2. 

1.2.15 “Consultant” means any individual (other than a non-employee Director), corporation,
partnership, limited liability company or other entity that provides bona fide consulting or advisory services to Fogo. 
 1.2.16 “Covered
Person” has the meaning set forth in Section 1.3.4. 
 1.2.17 “Director” means a member of
the Board. 

  
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 1.2.18 “Disability” means as a result of a Participant’s incapacity due to
physical or mental illness, such Participant will have been substantially unable to perform his or her duties in connection with his or her Employment for a continuous period of 180 days. 

1.2.19 “Effective Date” has the meaning set forth in Section 3.23. 

1.2.20 “Employee” means a regular, active employee and/or a prospective employee of Fogo, but not including a non-employee Director. 
 1.2.21 “Employment” means a Participant’s performance of services
for Fogo, as determined by the Committee. The terms “employ” and “employed” will have their correlative meanings. The Committee in its sole discretion may determine (a) whether and when a Participant’s leave of absence
results in a termination of Employment, (b) whether and when a change in a Participant’s association with Fogo results in a termination of Employment and (c) the impact, if any, of any such leave of absence or change in association on
outstanding Awards. Unless expressly provided otherwise, any references in the Plan or any Award Agreement to a Participant’s Employment being terminated will include both voluntary and involuntary terminations. 

1.2.22 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor thereto, and the
applicable rules and regulations thereunder. 
 1.2.23 “Fair Market Value” means, with respect to a Share, the closing price
reported for the Common Stock on the applicable date as reported on the New York Stock Exchange or, if not so reported, as determined in accordance with a valuation methodology approved by the Committee, unless determined as otherwise
specified herein. For purposes of the grant of any Award, the applicable date will be the trading day on which the Award is granted or, if the date the Award is granted is not a trading day, the trading day immediately prior to the date the Award is
granted. For purposes of the exercise of any Award, the applicable date is the date a notice of exercise is received by Fogo or, if such date is not a trading day, the trading day immediately following the date a notice of exercise is received by
Fogo. 
 1.2.24 “Good Reason” means (a) with respect to a Participant employed pursuant to a written employment agreement which
agreement includes a definition of “Good Reason,” “Good Reason” as defined in that agreement or (b) with respect to any other Participant, the occurrence of any of the following in the absence of the Participant’s
written consent: (i) any material and adverse change in the Participant’s position or authority with Fogo as in effect immediately before a Change in Control, other than an isolated and insubstantial action not taken in bad faith and which
is remedied by Fogo within 30 days after receipt of notice thereof given by the Participant; (ii) the transfer of, other than in the normal course of business, the Participant’s primary work site to a new primary work site that is more
than 50 miles from the Participant’s primary work site in effect immediately before a Change in Control; or (iii) a diminution of the Participant’s base salary in effect immediately before a Change in Control by more than 10%, unless
such diminution applies to all similarly situated employees. If the Participant does not deliver to Fogo a written notice of termination within 60 days after the Participant has knowledge that an event constituting Good Reason has occurred, the
event will no longer constitute Good Reason. In addition, the Participant must give Fogo 30 days to cure the event constituting Good Reason. 

  
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 1.2.25 “Incentive Stock Option” means a stock option to purchase Shares that is
intended to be an “incentive stock option” within the meaning of Sections 421 and 422 of the Code, as now constituted or subsequently amended, or pursuant to a successor provision of the Code, and which is designated as an Incentive Stock
Option in the applicable Award Agreement. 
 1.2.26 “Incumbent Directors” has the meaning provided in the definition of Change in
Control. 
 1.2.27 “Non-Qualifying Transaction” has the meaning provided in the definition
of Change in Control. 
 1.2.28 “Other Stock-Based or Cash-Based Awards” has the meaning set forth in
Section 2.9.1. 
 1.2.29 “Participant” means any Employee, Consultant or
Non-Employee Director who receives an Award. 
 1.2.30 “Plan” has the meaning set forth in
Section 1.1. 
 1.2.31 “Plan Action” has the meaning set forth in Section 3.3.1.

 1.2.32 “Retirement” means (i) the applicable statutory age in Participant’s primary work location, (ii) if no such
statutory retirement age exists, age 65 or (iii) the age determined in an Award Agreement by the Board as the applicable retirement age. 
 1.2.33
“Section 409A” means Section 409A of the Code, including any amendments or successor provisions to that section, and any regulations and other administrative guidance thereunder, in each
case as they may be from time to time amended or interpreted through further administrative guidance. 
 1.2.34 “Securities Act”
means the Securities Act of 1933, as amended from time to time, or any successor thereto, and the applicable rules and regulations thereunder. 
 1.2.35
“Share Limit” has the meaning set forth in Section 1.6.1. 
 1.2.36 “Shares” means
shares of Common Stock. 
 1.2.37 “Subsidiary” means any corporation, partnership, limited liability company or other legal entity
in which Fogo, directly or indirectly, owns stock or other equity interests possessing 25% or more of the total combined voting power of all classes of the then-outstanding stock or other equity interests. 

1.2.38 “Surviving Entity” has the meaning provided in the definition of Change in Control. 

  
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 1.2.39 “Ten Percent Stockholder” means a person owning stock possessing more than
10% of the total combined voting power of all classes of stock of Fogo and of any Subsidiary or parent corporation of Fogo. 
 1.2.40 “Treasury
Regulations” means the regulations promulgated under the Code by the United States Treasury Department, as amended. 
 1.3 Administration

 1.3.1 The Compensation Committee of the Board (as constituted from time to time, and including any successor committee, the
“Committee”) will administer the Plan. In particular, the Committee will have the authority in its sole discretion to: 
 (a)
exercise all of the powers granted to it under the Plan; 
 (b) construe, interpret and implement the Plan and all Award Agreements; 

(c) prescribe, amend and rescind rules and regulations relating to the Plan, including rules governing the Committee’s own operations; 

(d) make all determinations necessary or advisable in administering the Plan; 

(e) correct any defect, supply any omission and reconcile any inconsistency in the Plan; 

(f) amend the Plan to reflect changes in applicable law; 
 (g)
grant, or recommend to the Board for approval to grant, Awards and determine who will receive Awards, when such Awards will be granted and the terms of such Awards, including setting forth provisions with regard to the effect of a termination of
Employment on such Awards and conditioning the vesting of, or the lapsing of any applicable vesting restrictions or other vesting conditions on, Awards upon the attainment of performance goals and/or upon continued service; 

(h) amend any outstanding Award Agreement in any respect including, without limitation, to 

(1) accelerate the time or times at which the Award becomes vested, unrestricted or may be exercised (and, in connection with such acceleration, the Committee
may provide that any Shares acquired pursuant to such Award will be restricted shares, which are subject to vesting, transfer, forfeiture or repayment provisions similar to those in the Participant’s underlying Award), 

(2) accelerate the time or times at which Shares are delivered under the Award (and, without limitation on the Committee’s rights, in connection with
such acceleration, the Committee may provide that any Shares delivered pursuant to such Award will be restricted shares, which are subject to vesting, transfer, forfeiture or repayment provisions similar to those in the Participant’s underlying
Award), 
 (3) waive or amend any goals, restrictions, vesting provisions or conditions set forth in such Award Agreement, or impose new goals,
restrictions, vesting provisions and conditions or 

  
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 (4) reflect a change in the Participant’s circumstances (e.g., a change to part-time employment
status or a change in position, duties or responsibilities); and 
 (i) determine at any time whether, to what extent and under what circumstances and
method or methods, subject to Section 3.14, 
 (1) Awards may be 

(A) settled in cash, Shares, other securities, other Awards or other property (in which event, the Committee may specify what other effects such settlement
will have on the Participant’s Award, including the effect on any repayment provisions under the Plan or Award Agreement), 
 (B) exercised or 

(C) canceled, forfeited or suspended, 
 (2) Shares, other
securities, other Awards or other property and other amounts payable with respect to an Award may be deferred either automatically or at the election of the Participant thereof or of the Committee, 

(3) to the extent permitted under applicable law, loans (whether or not secured by Common Stock) may be extended by Fogo with respect to any Awards, 

(4) Awards may be settled by Fogo, any of its Subsidiaries or affiliates or any of their designees and 

(5) the exercise price for any stock option (other than an Incentive Stock Option, unless the Committee determines that such a stock option will no longer
constitute an Incentive Stock Option) or stock appreciation right may be reset. 
 1.3.2 The determination of the Committee on all matters relating to the
Plan or any Award Agreement will be final, binding and conclusive. The Committee may allocate among its members and delegate to any person who is not a member of the Committee, or to any administrative group within Fogo, any of its powers,
responsibilities or duties. In delegating its authority, the Committee will consider the extent to which any delegation may cause Awards to fail to meet the requirements of Rule 16(b)-3(d)(1) or Rule 16(b)-3(e) under the Exchange Act. Except as specifically provided to the contrary, references to the Committee include any administrative group, individual or individuals to whom the Committee has delegated its
duties and powers. 
 1.3.3 Notwithstanding anything to the contrary contained herein, the Board may, in its sole discretion, at any time and from time to
time, grant Awards or administer the Plan. In any such case, the Board will have all of the authority and responsibility granted to the Committee herein. 

1.3.4 No member of the Committee or any person to whom the Committee delegates its powers, responsibilities or duties in writing, including by resolution
(each such person, a “Covered Person”), will have any liability to any person (including any Participant) for any action taken or omitted to be taken or any determination made with respect to the Plan or any Award, except as
expressly provided by statute. Each Covered Person will be indemnified and held harmless by Fogo against and from: 

  
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 (a) any loss, cost, liability or expense (including attorneys’ fees) that may be imposed upon or
incurred by such Covered Person in connection with or resulting from any action, suit or proceeding to which such Covered Person may be a party or in which such Covered Person may be involved by reason of any action taken or omitted to be taken
under the Plan or any Award Agreement, in each case, in good faith and 
 (b) any and all amounts paid by such Covered Person, with Fogo’s approval, in
settlement thereof, or paid by such Covered Person in satisfaction of any judgment in any such action, suit or proceeding against such Covered Person, provided that Fogo will have the right, at its own expense, to assume and
defend any such action, suit or proceeding and, once Fogo gives notice of its intent to assume the defense, Fogo will have sole control over such defense with counsel of Fogo’s choice. 

The foregoing right of indemnification will not be available to a Covered Person to the extent that a court of competent jurisdiction in a
final judgment or other final adjudication, in either case, not subject to further appeal, determines that the acts or omissions of such Covered Person giving rise to the indemnification claim resulted from such Covered Person’s bad faith,
fraud or willful misconduct. The foregoing right of indemnification will not be exclusive of any other rights of indemnification to which Covered Persons may be entitled under Fogo’s articles of incorporation or bylaws, pursuant to any
individual indemnification agreements between such Covered Person and Fogo, as a matter of law, or otherwise, or any other power that Fogo may have to indemnify such persons or hold them harmless. 

1.4 Persons Eligible for Awards 
 Awards
under the Plan may be made to Employees, Consultants and Non-Employee Directors. 
 1.5 Types of Awards Under
Plan 
 Awards may be made under the Plan in the form of cash-based or stock-based Awards. Stock-based Awards may be in the form of any
of the following, in each case in respect of Common Stock: 
 (a) stock options, 

(b) stock appreciation rights, 
 (c) restricted shares, 

(d) restricted stock units, 
 (e) dividend equivalent rights and

  
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 (f) other equity-based or equity-related Awards (as further described in
Section 2.9), that the Committee determines to be consistent with the purposes of the Plan and the interests of Fogo. 
  

	1.6	 Shares of Common Stock Available for Awards 

1.6.1 Common Stock Subject to the Plan. Subject to the other provisions of this Section 1.6, the total number of
Shares that may be granted under the Plan will be (the “Share Limit”). Shares of Common Stock subject to awards that are assumed, converted or substituted under the Plan as a result of Fogo’s acquisition of another
company (including by way of merger, combination or similar transaction) (“Acquisition Awards”) will not count against the number of shares that may be granted under the Plan. Available shares under a stockholder approved
plan of an acquired company (as appropriately adjusted to reflect the transaction) may be used for Awards under the Plan and do not reduce the maximum number of shares available for grant under the Plan, subject to applicable stock exchange
requirements. 
 1.6.2 Replacement of Shares. Shares subject to an Award that is forfeited (including any restricted shares repurchased
by Fogo at the same price paid by the Participant so that such Shares are returned to Fogo), expires or is settled for cash (in whole or in part), to the extent of such forfeiture, expiration or cash settlement will be available for future grants of
Awards under the Plan and will be added back in the same number of Shares as were deducted in respect of the grant of such Award. The payment of dividend equivalent rights in cash in conjunction with any outstanding Awards will not be counted
against the Shares available for issuance under the Plan. Shares tendered by a Participant or withheld by Fogo in payment of the exercise price of a stock option or to satisfy any tax withholding obligation with respect to an Award will not again be
available for Awards. 
  

	1.6.3	 Adjustments. The Committee will: 

(a) adjust the number of Shares authorized pursuant to Section 1.6.1, 

(b) adjust the individual Participant limitations set forth in Sections 1.7, 2.4.1 and 2.5.1, 

(c) adjust the number of Shares set forth in Section 2.3.2 that can be issued through Incentive Stock Options and 

(d) adjust the terms of any outstanding Awards (including, without limitation, the number of Shares covered by each outstanding Award, the type of property or
securities to which the Award relates and the exercise or strike price of any Award), 
 in such manner as it deems appropriate (including,
without limitation, by payment of cash) to prevent the enlargement or dilution of rights, as a result of any increase or decrease in the number of issued Shares (or issuance of shares of stock other than Shares) resulting from a recapitalization,
stock split, reverse stock split, stock dividend, spinoff, split up, combination, reclassification or exchange of Shares, merger, consolidation, rights offering, separation, reorganization or liquidation or any other change in the corporate
structure or Shares, including any extraordinary dividend or extraordinary distribution; provided that no such adjustment may be made if or to the extent that it would cause an outstanding Award to cease to be exempt from, or to fail
to comply with, Section 409A of the Code. 

  
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 ARTICLE II 

AWARDS UNDER THE PLAN 
 2.1 Agreements
Evidencing Awards 
 Each Award granted under the Plan will be evidenced by an Award Agreement that will contain such provisions and
conditions as the Committee deems appropriate. Unless otherwise provided herein, the Committee may grant Awards in tandem with or, subject to Section 3.14, in substitution for or satisfaction of any other Award or Awards
granted under the Plan or any award granted under any other plan of Fogo. By accepting an Award pursuant to the Plan, a Participant thereby agrees that the Award will be subject to all of the terms and provisions of the Plan and the applicable Award
Agreement. 
 2.2 No Rights as a Stockholder 

No Participant (or other person having rights pursuant to an Award) will have any of the rights of a stockholder of Fogo with respect to
Shares subject to an Award until the delivery of such Shares. Except as otherwise provided in Section 1.6.3, no adjustments will be made for dividends, distributions or other rights (whether ordinary or extraordinary, and
whether in cash, Common Stock, other securities or other property) for which the record date is before the date the Certificates for the Shares are delivered, or in the event the Committee elects to use another system, such as book entries by the
transfer agent, before the date in which such system evidences the Participant’s ownership of such Shares. 
 2.3 Options 

2.3.1 Grant. Stock options may be granted to eligible recipients in such number and at such times during the term of the Plan as the Committee
may determine; provided, however, that the maximum number of Shares as to which stock options may be granted under the Plan to any one individual in any fiscal year may not exceed . Shares (as
adjusted pursuant to the provisions of Section 1.6.3). 
 2.3.2 Incentive Stock Options. At the time of
grant, the Committee will determine: 
 (a) whether all or any part of a stock option granted to an eligible Employee will be an Incentive Stock Option and

 (b) the number of Shares subject to such Incentive Stock Option; provided, however, that 

(1) the aggregate Fair Market Value (determined as of the time the option is granted) of the stock with respect to which Incentive Stock Options are
exercisable for the first time by an eligible Employee during any fiscal year (under all such plans of Fogo and of any Subsidiary or parent corporation of Fogo) may not exceed $100,000 and 

(2) no Incentive Stock Option (other than an Incentive Stock Option that may be assumed or issued by Fogo in connection with a transaction to which
Section 424(a) of the Code applies) may be granted to a person who is not eligible to receive an Incentive Stock Option under the Code. 

  
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 The form of any stock option which is entirely or in part an Incentive Stock Option will
clearly indicate that such stock option is an Incentive Stock Option or, if applicable, the number of Shares subject to the Incentive Stock Option. No more than Shares (as adjusted pursuant to the provisions of
Section 1.6.3) that can be delivered under the Plan may be issued through Incentive Stock Options. 
 2.3.3 Exercise
Price. The exercise price per share with respect to each stock option will be determined by the Committee but, except as otherwise permitted by Section 1.6.3, may never be less than the Fair Market Value of a
share of Common Stock (or, in the case of an Incentive Stock Option granted to a Ten Percent Stockholder, 110% of the Fair Market Value). Unless otherwise noted in the Award Agreement, the Fair Market Value of the Common Stock will be its Fair
Market Value on the date of grant of the Award of stock options. 
 2.3.4 Term of Stock Option. In no event will any stock
option be exercisable after the expiration of 10 years (or, in the case of an Incentive Stock Option granted to a Ten Percent Stockholder, 5 years) from the date on which the stock option is granted. 

2.3.5 Vesting and Exercise of Stock Option and Payment for Shares. A stock option may vest and be exercised at such time or times and
subject to such terms and conditions as will be determined by the Committee at the time the stock option is granted and set forth in the Award Agreement. Subject to any limitations in the applicable Award Agreement, any Shares not acquired pursuant
to the exercise of a stock option on the applicable vesting date may be acquired thereafter at any time before the final expiration of the stock option. 

To exercise a stock option, the Participant must give written notice to Fogo specifying the number of Shares to be acquired and accompanied by
payment of the full purchase price therefor in cash or by certified or official bank check or in another form as determined by Fogo, which may include (a) personal check, (b) Shares, based on the Fair Market Value as of the exercise date,
(c) any other form of consideration approved by Fogo and permitted by applicable law and (d) any combination of the foregoing. 

The Committee may also make arrangements for the cashless exercise of a stock option. Any person exercising a stock option will make such
representations and agreements and furnish such information as the Committee may, in its sole discretion, deem necessary or desirable to effect or assure compliance by Fogo on terms acceptable to Fogo with the provisions of the Securities Act, the
Exchange Act and any other applicable legal requirements. The Committee may, in its sole discretion, also take whatever additional actions it deems appropriate to effect such compliance including, without limitation, placing legends on share
certificates and issuing stop-transfer notices to agents and registrars. If a Participant so requests, Shares acquired pursuant to the exercise of a stock option may be issued in the name of the Participant and another jointly with the right of
survivorship. 
 2.4 Stock Appreciation Rights 
 2.4.1
Grant. Stock appreciation rights may be granted to eligible recipients in such number and at such times during the term of the Plan as the Committee may determine; provided, however, that the maximum number
of Shares as to which stock appreciation rights may be granted under the Plan to any one individual in any fiscal year may not exceed Shares (as adjusted pursuant to the provisions of Section 1.6.3). 

  
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 2.4.2 Exercise Price. The exercise price per share with respect to each stock
appreciation right will be determined by the Committee but, except as otherwise permitted by Section 1.6.3, may never be less than the Fair Market Value of the Common Stock. Unless otherwise noted in the Award Agreement,
the Fair Market Value of the Common Stock will be its Fair Market Value on the date of grant of the Award of stock appreciation rights. 
 2.4.3
Term of Stock Appreciation Right. In no event will any stock appreciation right be exercisable after the expiration of 10 years from the date on which the stock appreciation right is granted. 

2.4.4 Vesting and Exercise of Stock Appreciation Right and Delivery of Shares. Each stock appreciation right may vest and be exercised in
such installments as may be determined in the Award Agreement at the time the stock appreciation right is granted. Subject to any limitations in the applicable Award Agreement, any stock appreciation rights not exercised on the applicable vesting
date may be exercised thereafter at any time before the final expiration of the stock appreciation right. 
 To exercise a stock
appreciation right, the Participant must give written notice to Fogo specifying the number of stock appreciation rights to be exercised. Upon exercise of stock appreciation rights, Shares, cash or other securities or property, or a combination
thereof, as specified by the Committee, equal in value to (a) the excess of (i) the Fair Market Value of the Common Stock on the date of exercise over (ii) the exercise price of such stock appreciation right multiplied
by (b) the number of stock appreciation rights exercised, will be delivered to the Participant. 
 Any person exercising a stock
appreciation right will make such representations and agreements and furnish such information as the Committee may, in its sole discretion, deem necessary or desirable to effect or assure compliance by Fogo on terms acceptable to Fogo with the
provisions of the Securities Act, the Exchange Act and any other applicable legal requirements. If a Participant so requests, Shares purchased may be issued in the name of the Participant and another jointly with the right of survivorship. 

2.5 Restricted Shares 
 2.5.1 Grants.
The Committee may grant or offer for sale restricted shares in such amounts and subject to such terms and conditions as the Committee may determine. Upon the delivery of such shares, the Participant will have the rights of a stockholder with
respect to the restricted shares, subject to any other restrictions and conditions as the Committee may include in the applicable Award Agreement. Each Participant of an Award of restricted shares will be issued a Certificate in respect of such
shares, unless the Committee elects to use another system, such as book entries by the transfer agent, as evidencing ownership of such shares. In the event that a Certificate is issued in respect of restricted shares, such Certificate may be
registered in the name of the Participant, and will, in addition to such legends required by applicable securities laws, bear an appropriate legend referring to the terms, conditions, and restrictions applicable to such Award, but will be held by
Fogo or its designated agent until the time the restrictions lapse. 

  
 -12- 

 2.5.2 Right to Vote and Receive Dividends on Restricted Shares. Each Participant of an
Award of restricted shares will, during the period of restriction, be the beneficial and record owner of such restricted shares and will have full voting rights with respect thereto. Unless the Committee determines otherwise in an Award Agreement,
during the period of restriction, all ordinary cash dividends or other ordinary distributions paid upon any restricted share will be retained by the Company and will be paid to the relevant Participant (without interest) when the Award of restricted
shares vests and will revert back to the Company if for any reason the restricted share upon which such dividends or other distributions were paid reverts back to the Company (any extraordinary dividends or other extraordinary distributions will be
treated in accordance with Section 1.6.3). 
 2.6 Restricted Stock Units 

The Committee may grant Awards of restricted stock units in such amounts and subject to such terms and conditions as the Committee may determine. A Participant
of a restricted stock unit will have only the rights of a general unsecured creditor of Fogo, until delivery of Shares, cash or other securities or property is made as specified in the applicable Award Agreement. On the delivery date specified in
the Award Agreement, the Participant of each restricted stock unit not previously forfeited or terminated will receive one share of Common Stock, cash or other securities or property equal in value to a share of Common Stock or a combination
thereof, as specified by the Committee. 
 2.7 Dividend Equivalent Rights 

The Committee may include in the Award Agreement with respect to any Award a dividend equivalent right entitling the Participant to receive
amounts equal to all or any portion of the regular cash dividends that would be paid on the Shares covered by such Award if such Shares had been delivered pursuant to such Award. The grantee of a dividend equivalent right will have only the rights
of a general unsecured creditor of Fogo until payment of such amounts is made as specified in the applicable Award Agreement. In the event such a provision is included in an Award Agreement, the Committee will determine whether such payments will be
made in cash, in Shares or in another form, whether they will be conditioned upon the exercise of the Award to which they relate (subject to compliance with Section 409A of the Code), the time or times at which they will be made, and such other
terms and conditions as the Committee will deem appropriate; provided that in no event may such payments may be made unless and until the Award to which they relate vests. 

2.8 Other Stock-Based or Cash-Based Awards 
 2.8.1
Grant. The Committee may grant other types of equity-based, equity-related or cash-based Awards (including the grant or offer for sale of unrestricted Shares, performance share awards, performance units settled in cash)
(“Other Stock-Based or Cash-Based Awards”) in such amounts and subject to such terms and conditions as the Committee may determine. The terms and conditions set forth by the Committee in the applicable Award Agreement may
relate 

  
 -13- 

 
to the achievement of Performance Goals, as determined by the Committee at the time of grant. Such Awards may entail the transfer of actual Shares to Award recipients and may include Awards
designed to comply with or take advantage of the applicable local laws of jurisdictions other than the United States. 
 2.9 Repayment If Conditions Not
Met 
 If the Committee later determines that all terms and conditions of the Plan and a Participant’s Award Agreement were not
satisfied due to a miscalculation, and that the failure to satisfy such terms and conditions is material, then the Participant will be obligated to pay Fogo immediately upon demand therefor, (a) with respect to a stock option and a stock
appreciation right, an amount equal to the excess of the Fair Market Value (determined at the time of exercise) of the Shares that were delivered in respect of such exercised stock option or stock appreciation right, as applicable, over the exercise
price paid therefor, (b) with respect to restricted shares, an amount equal to the Fair Market Value (determined at the time such shares became vested) of such restricted shares and (c) with respect to restricted stock units, an amount
equal to the Fair Market Value (determined at the time of delivery) of the Shares delivered with respect to the applicable delivery date, in each case with respect to clauses (a), (b) and (c) of this Section 2.10,
without reduction for any amount applied to satisfy withholding tax or other obligations in respect of such Award. 
 ARTICLE III 

MISCELLANEOUS 
 3.1 Amendment of the
Plan 
 3.1.1 Unless otherwise provided in the Plan or in an Award Agreement, the Board may at any time and from time to time suspend, discontinue,
revise or amend the Plan in any respect whatsoever but, subject to Sections 1.3, 1.6.3 and 3.7, no such amendment may materially adversely impair the rights of the Participant of any Award without the Participant’s
consent. Subject to Sections 1.3, 1.6.3 and 3.7, an Award Agreement may not be amended to materially adversely impair the rights of a Participant without the Participant’s consent. 

3.1.2 Unless otherwise determined by the Board, stockholder approval of any suspension, discontinuance, revision or amendment will be obtained only to the
extent necessary to comply with any applicable laws, regulations or rules of a securities exchange or self-regulatory agency; provided, however, no amendment that would require stockholder approval under Section 422 of the Code
will be effective without the approval of Fogo’s stockholders. 
 3.2 Tax Withholding 

Participants will be solely responsible for any applicable taxes (including, without limitation, income and excise taxes) and penalties, and
any interest that accrues thereon, that they incur in connection with the receipt, vesting or exercise of any Award. As a condition to the delivery of any Shares, cash or other securities or property pursuant to any Award or the lifting or lapse of
restrictions on any Award, or in connection with any other event that gives rise to a federal or other governmental tax withholding obligation on the part of Fogo relating to an Award (including, without limitation, the Federal Insurance
Contributions Act (FICA) tax), 

  
 -14- 

 (a) Fogo may deduct or withhold (or cause to be deducted or withheld) from any payment or distribution to a
Participant whether or not pursuant to the Plan (including Shares otherwise deliverable), 
 (b) the Committee will be entitled to require that the
Participant remit cash to Fogo (through payroll deduction or otherwise) or 
 (c) Fogo may enter into any other suitable arrangements to withhold, in each
case in Fogo’s discretion the amounts of such taxes to be withheld based on the individual tax rates applicable to the Participant. 
 3.3 Required
Consents and Legends 
 3.3.1 If the Committee at any time determines that any Consent (as hereinafter defined) is necessary or desirable as a condition
of, or in connection with, the granting of any Award, the delivery of Shares or the delivery of any cash, securities or other property under the Plan, or the taking of any other action thereunder (each such action a “Plan
Action”), then, subject to Section 3.15 such Plan Action will not be taken, in whole or in part, unless and until such Consent will have been effected or obtained to the full satisfaction of the Committee. The
Committee may direct that any Certificate evidencing Shares delivered pursuant to the Plan will bear a legend setting forth such restrictions on transferability as the Committee may determine to be necessary or desirable, and may advise the transfer
agent to place a stop transfer order against any legended shares. 
 3.3.2 The term “Consent” as used in this Article III with
respect to any Plan Action includes: 
 (a) any and all listings, registrations or qualifications in respect thereof upon any securities exchange or under
any federal, state, or local law, or law, rule or regulation of a jurisdiction outside the United States, 
 (b) any and all written agreements and
representations by the Participant with respect to the disposition of Shares, or with respect to any other matter, which the Committee may deem necessary or desirable to comply with the terms of any such listing, registration or qualification or to
obtain an exemption from the requirement that any such listing, qualification or registration be made, 
 (c) any and all other consents, clearances and
approvals in respect of a Plan Action by any governmental or other regulatory body or any stock exchange or self-regulatory agency, 
 (d) any and all
consents by the Participant to: 
 (i) Fogo’s supplying to any third party recordkeeper of the Plan such personal information as the Committee deems
advisable to administer the Plan, 

  
 -15- 

 (ii) Fogo’s deducting amounts from the Participant’s wages, or another arrangement satisfactory to
the Committee, to reimburse Fogo for advances made on the Participant’s behalf to satisfy certain withholding and other tax obligations in connection with an Award and 

(iii) Fogo’s imposing sales and transfer procedures and restrictions and hedging restrictions on Shares delivered under the Plan and 

(e) any and all consents or authorizations required to comply with, or required to be obtained under, applicable local law or otherwise required by the
Committee. Nothing herein will require Fogo to list, register or qualify the Shares on any securities exchange. 
 3.4 Right of Offset 

Fogo will have the right to offset against its obligation to deliver Shares (or other property or cash) under the Plan or any Award Agreement
any outstanding amounts (including, without limitation, travel and entertainment or advance account balances, loans, repayment obligations under any Awards, or amounts repayable to Fogo pursuant to tax equalization, housing, automobile or other
employee programs) that the Participant then owes to Fogo and any amounts the Committee otherwise deems appropriate pursuant to any tax equalization policy or agreement. Notwithstanding the foregoing, if an Award provides for the deferral of
compensation within the meaning of Section 409A of the Code, the Committee will have no right to offset against its obligation to deliver Shares (or other property or cash) under the Plan or any Award Agreement if such offset could subject the
Participant to the additional tax imposed under Section 409A of the Code in respect of an outstanding Award. 
 3.5 Nonassignability; No Hedging

 Unless otherwise provided in an Award Agreement, no Award (or any rights and obligations thereunder) granted to any person under the
Plan may be sold, exchanged, transferred, assigned, pledged, hypothecated or otherwise disposed of or hedged, in any manner (including through the use of any cash-settled instrument), whether voluntarily or involuntarily and whether by operation of
law or otherwise, other than by will or by the laws of descent and distribution, and all such Awards (and any rights thereunder) will be exercisable during the life of the Participant only by the Participant or the Participant’s legal
representative. Notwithstanding the foregoing, the Committee may permit, under such terms and conditions that it deems appropriate in its sole discretion, a Participant to transfer any Award to any person or entity that the Committee so determines.
Any sale, exchange, transfer, assignment, pledge, hypothecation, or other disposition in violation of the provisions of this Section 3.5 will be null and void and any Award which is hedged in any manner will immediately be
forfeited. All of the terms and conditions of the Plan and the Award Agreements will be binding upon any permitted successors and assigns. 
 3.6 Change
in Control 
 3.6.1 Unless the Committee determines otherwise or as otherwise provided in the applicable Award Agreement, if a Participant’s
Employment is terminated by Fogo or any successor entity thereto without Cause, or the Participant resigns his or her Employment for Good Reason, in 

  
 -16- 

 
either case, on or within two (2) years after a Change in Control, (i) each Award granted to such Participant prior to such Change in Control may become fully vested (including the
lapsing of all restrictions and conditions) and, as applicable, exercisable, and (ii) any Shares deliverable pursuant to restricted stock units may be delivered promptly (but no later than 15 days) following such Participant’s termination
of Employment. As of the Change in Control date, any outstanding performance-based Awards may be deemed earned at the level of achievement determined by the Committee as of the date of the Change of Control. 

3.6.2 Notwithstanding the foregoing, in the event of a Change in Control, a Participant’s Award may be treated, to the extent determined by the Committee
and permitted under Section 409A, in accordance with one or more of the following methods as determined by the Committee in its sole discretion: (i) settle such Awards for an amount of cash or securities equal to their value, where in the
case of stock options and stock appreciation rights, the value of such awards, if any, will be equal to their in-the-money spread value (if any), as determined in the
sole discretion of the Committee; (ii) provide for the assumption of or the issuance of substitute awards that will substantially preserve the otherwise applicable terms of any affected Awards previously granted under the Plan, as determined by
the Committee in its sole discretion; (iii) modify the terms of such awards to add events, conditions or circumstances (including termination of Employment within a specified period after a Change in Control) upon which the vesting of such
Awards or lapse of restrictions thereon will accelerate; or (iv) provide that for a period of at least 20 days prior to the Change in Control, any stock options or stock appreciation rights that would not otherwise become exercisable prior to
the Change in Control will be exercisable as to all Shares subject thereto (but any such exercise will be contingent upon and subject to the occurrence of the Change in Control and if the Change in Control does not take place within a specified
period after giving such notice for any reason whatsoever, the exercise will be null and void) and that any stock options or stock appreciation rights not exercised prior to the consummation of the Change in Control will terminate and be of no
further force and effect as of the consummation of the Change in Control. In the event that the consideration paid in the Change in Control includes contingent value rights, earnout or indemnity payments or similar payments, then the Committee will
determine if Awards settled under clause (i) above are (a) valued at closing taking into account such contingent consideration (with the value determined by the Committee in its sole discretion) or (b) entitled to a share of such
contingent consideration. For the avoidance of doubt, in the event of a Change in Control where all stock options and stock appreciation rights are settled for an amount (as determined in the sole discretion of the Committee) of cash or securities,
the Committee may, in its sole discretion, terminate any stock option or stock appreciation right for which the exercise price is equal to or exceeds the per share value of the consideration to be paid in the Change in Control transaction without
payment of consideration therefor. Similar actions to those specified in this Section 3.6.2 may be taken in the event of a merger or other corporate reorganization that does not constitute a Change in Control. 

3.7 No Continued Employment or Engagement; Right of Discharge Reserved 

Neither the adoption of the Plan nor the grant of any Award (or any provision in the Plan or Award Agreement) will confer upon any Participant
any right to continued Employment, or other engagement, with Fogo, nor will it interfere in any way with the right of Fogo to terminate, or alter the terms and conditions of, such Employment or other engagement at any time. 

  
 -17- 

 3.8 Nature of Payments 

3.8.1 Any and all grants of Awards and deliveries of Common Stock, cash, securities or other property under the Plan will be in consideration of services
performed or to be performed for Fogo by the Participant. Awards under the Plan may, in the discretion of the Committee, be made in substitution in whole or in part for cash or other compensation otherwise payable to a Participant. Only whole Shares
will be delivered under the Plan. Awards will, to the extent reasonably practicable, be aggregated in order to eliminate any fractional shares. Fractional shares may, in the discretion of the Committee, be forfeited or be settled in cash or
otherwise as the Committee may determine. 
 3.8.2 All such grants and deliveries of Shares, cash, securities or other property under the Plan will
constitute a special discretionary incentive payment to the Participant, will not entitle the Participant to the grant of any future Awards and will not be required to be taken into account in computing the amount of salary or compensation of the
Participant for the purpose of determining any contributions to or any benefits under any pension, retirement, profit-sharing, bonus, life insurance, severance or other benefit plan of Fogo or under any agreement with the Participant, unless Fogo
specifically provides otherwise. 
 3.9 Non-Uniform Determinations 

3.9.1 The Committee’s determinations under the Plan and Award Agreements need not be uniform and any such determinations may be made by it selectively
among persons who receive, or are eligible to receive, Awards under the Plan (whether or not such persons are similarly situated). Without limiting the generality of the foregoing, the Committee will be entitled, among other things, to make non-uniform and selective determinations under Award Agreements, and to enter into non-uniform and selective Award Agreements, as to (a) the persons to receive Awards,
(b) the terms and provisions of Awards and (c) whether a Participant’s Employment has been terminated for purposes of the Plan. 
 3.9.2 To
the extent the Committee deems it necessary, appropriate or desirable to comply with foreign law or practices and to further the purposes of the Plan, the Committee may, in its sole discretion and without amending the Plan, (a) establish
special rules applicable to Awards to Participants who are foreign nationals, are employed outside the United States or both and grant Awards (or amend existing Awards) in accordance with those rules and (b) cause Fogo to enter into an
agreement with any local Subsidiary pursuant to which such Subsidiary will reimburse Fogo for the cost of such equity incentives. 
 3.10 Other Payments
or Awards 
 Nothing contained in the Plan will be deemed in any way to limit or restrict Fogo from making any award or payment to any
person under any other plan, arrangement or understanding, whether now existing or hereafter in effect. 

  
 -18- 

 3.11 Plan Headings 

The headings in the Plan are for the purpose of convenience only and are not intended to define or limit the construction of the provisions
hereof. 
 3.12 Termination of Plan 

The Board reserves the right to terminate the Plan at any time; provided, however, that in any case, the Plan will
terminate on the day before the tenth anniversary of the Effective Date, and provided further, that all Awards made under the Plan before its termination will remain in effect until such Awards have been satisfied or terminated
in accordance with the terms and provisions of the Plan and the applicable Award Agreements. 
 3.13 Clawback/Recapture Policy 

Awards under the Plan will be subject to any clawback or recapture policy that Fogo may adopt from time to time to the extent provided in such
policy and, in accordance with such policy, may be subject to the requirement that the Awards be repaid to Fogo after they have been distributed to the Participant. 

3.14 Section 409A 
 3.14.1 All Awards made under the Plan
that are intended to be “deferred compensation” subject to Section 409A will be interpreted, administered and construed to comply with Section 409A, and all Awards made under the Plan that are intended to be exempt from
Section 409A will be interpreted, administered and construed to comply with and preserve such exemption. The Board and the Committee will have full authority to give effect to the intent of the foregoing sentence. To the extent necessary to
give effect to this intent, in the case of any conflict or potential inconsistency between the Plan and a provision of any Award or Award Agreement with respect to an Award, the Plan will govern. 

3.14.2 Without limiting the generality of Section 3.15.1, with respect to any Award made under the Plan that is intended to be
“deferred compensation” subject to Section 409A: 
 (a) any payment due upon a Participant’s termination of Employment will be paid only
upon such Participant’s separation from service from Fogo within the meaning of Section 409A; 
 (b) any payment due upon a Change in Control of
Fogo will be paid only if such Change in Control constitutes a “change in ownership” or “change in effective control” within the meaning of Section 409A, and in the event that such Change in Control does not constitute a
“change in the ownership” or “change in the effective control” within the meaning of Section 409A, such Award will vest upon the Change in Control and any payment will be delayed until the first compliant date under
Section 409A; 
 (c) any payment to be made with respect to such Award in connection with the Participant’s separation from service from Fogo
within the meaning of Section 409A (and any other payment that would be subject to the limitations in Section 409A(a)(2)(B) of the Code) will be delayed until six months after the Participant’s separation from service (or earlier
death) in accordance with the requirements of Section 409A; 

  
 -19- 

 (d) if any payment to be made with respect to such Award would occur at a time when the tax deduction with
respect to such payment would be limited or eliminated by Section 162(m) of the Code, such payment may be deferred by Fogo under the circumstances described in Section 409A until the earliest date that Fogo reasonably anticipates that the
deduction or payment will not be limited or eliminated; 
 (e) to the extent necessary to comply with Section 409A, any other securities, other Awards
or other property that Fogo may deliver in lieu of Shares in respect of an Award will not have the effect of deferring delivery or payment beyond the date on which such delivery or payment would occur with respect to the Shares that would otherwise
have been deliverable (unless the Committee elects a later date for this purpose in accordance with the requirements of Section 409A); 
 (f) with
respect to any required Consent described in Section 3.3 or the applicable Award Agreement, if such Consent has not been effected or obtained as of the latest date provided by such Award Agreement for payment in respect of
such Award and further delay of payment is not permitted in accordance with the requirements of Section 409A, such Award or portion thereof, as applicable, will be forfeited and terminate notwithstanding any prior earning or vesting; 

(g) if the Award includes a “series of installment payments” (within the meaning of
Section 1.409A-2(b)(2)(iii) of the Treasury Regulations), the Participant’s right to the series of installment payments will be treated as a right to a series of separate payments and not as a right
to a single payment; 
 (h) if the Award includes “dividend equivalents” (within the meaning of
Section 1.409A-3(e) of the Treasury Regulations), the Participant’s right to the dividend equivalents will be treated separately from the right to other amounts under the Award; and 

(i) for purposes of determining whether the Participant has experienced a separation from service from Fogo within the meaning of Section 409A,
“subsidiary” will mean a corporation or other entity in a chain of corporations or other entities in which each corporation or other entity, starting with Fogo, has a controlling interest in another corporation or other entity in the
chain, ending with such corporation or other entity. For purposes of the preceding sentence, the term “controlling interest” has the same meaning as provided in Section 1.414(c)-2(b)(2)(i) of
the Treasury Regulations, provided that the language “at least 20 percent” is used instead of “at least 80 percent” each place it appears in Section 1.414(c)-2(b)(2)(i)
of the Treasury Regulations. 
 3.15 Governing Law 

THE PLAN AND ALL AWARDS MADE AND ACTIONS TAKEN THEREUNDER WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
DELAWARE, WITHOUT REFERENCE TO PRINCIPLES OF CONFLICT OF LAWS. 

  
 -20- 

 3.16 Disputes; Choice of Forum 

3.16.1 Fogo and each Participant, as a condition to such Participant’s participation in the Plan, hereby irrevocably submit to the exclusive jurisdiction
of any state or federal court located in the State of Delaware, over any suit, action or proceeding arising out of or relating to or concerning the Plan or, to the extent not otherwise specified in any individual agreement between Fogo and the
Participant, any aspect of the Participant’s Employment with Fogo or the termination of that Employment. Fogo and each Participant, as a condition to such Participant’s participation in the Plan, acknowledge that the forum designated by
this Section 3.18.1 has a reasonable relation to the Plan and to the relationship between such Participant and Fogo. Notwithstanding the foregoing, nothing herein will preclude Fogo from bringing any action or proceeding in
any other court for the purpose of enforcing the provisions of this Section 3.18.1. 
 3.16.2 The agreement by Fogo and each
Participant as to forum is independent of the law that may be applied in the action, and Fogo and each Participant, as a condition to such Participant’s participation in the Plan, (i) agree to such forum even if the forum may under
applicable law choose to apply non-forum law, (ii) hereby waive, to the fullest extent permitted by applicable law, any objection which Fogo or such Participant now or hereafter may have to personal
jurisdiction or to the laying of venue of any such suit, action or proceeding in any court referred to in Section 3.18.1, (iii) undertake not to commence any action arising out of or relating to or concerning the Plan in
any forum other than the forum described in this Section 3.18 and (iv) agree that, to the fullest extent permitted by applicable law, a final and non-appealable judgment in any
such suit, action or proceeding in any such court will be conclusive and binding upon Fogo and each Participant. 
 3.16.3 Each Participant, as a condition
to such Participant’s participation in the Plan, hereby irrevocably appoints the General Counsel of Fogo as such Participant’s agent for service of process in connection with any action, suit or proceeding arising out of or relating to or
concerning the Plan, who will promptly advise such Participant of any such service of process. 
 3.16.4 Each Participant, as a condition to such
Participant’s participation in the Plan, agrees to keep confidential the existence of, and any information concerning, a dispute, controversy or claim described in Section 3.20, except that a Participant may disclose
information concerning such dispute, controversy or claim to the court that is considering such dispute, controversy or claim or to such Participant’s legal counsel (provided that such counsel agrees not to disclose any such information other
than as necessary to the prosecution or defense of the dispute, controversy or claim). 
 3.17 Waiver of Jury Trial 

EACH GRANTEE WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, ARISING OUT OF, UNDER OR IN CONNECTION WITH
THE PLAN. 

  
 -21- 

 3.18 Waiver of Claims 

Each Participant of an Award recognizes and agrees that before being selected by the Committee to receive an Award the Participant has no right
to any benefits under the Plan. Accordingly, in consideration of the Participant’s receipt of any Award hereunder, the Participant expressly waives any right to contest the amount of any Award, the terms of any Award Agreement, any
determination, action or omission hereunder or under any Award Agreement by the Committee, Fogo or the Board, or any amendment to the Plan or any Award Agreement (other than an amendment to the Plan or an Award Agreement to which his or her consent
is expressly required by the express terms of an Award Agreement). Nothing contained in the Plan, and no action taken pursuant to its provisions, will create or be construed to create a trust of any kind or a fiduciary relationship between Fogo and
any Participant. The Plan is not intended to be subject to the Employee Retirement Income Security Act of 1974 (ERISA), as amended. 
 3.19 No Repricing
or Reloads 
 Except as otherwise permitted by Section 1.6.3, reducing the exercise price of stock options or
stock appreciation rights issued and outstanding under the Plan, including through amendment, cancellation in exchange for the grant of a substitute Award or repurchase for cash or other consideration (in each case that has the effect of reducing
the exercise price), will require approval of Fogo’s stockholders. Fogo will not grant any stock options or stock appreciation rights with automatic reload features. 

3.20 Severability; Entire Agreement 
 If
any of the provisions of the Plan or any Award Agreement is finally held to be invalid, illegal or unenforceable (whether in whole or in part), such provision will be deemed modified to the extent, but only to the extent, of such invalidity,
illegality or unenforceability and the remaining provisions will not be affected thereby; provided that if any of such provisions is finally held to be invalid, illegal, or unenforceable because it exceeds the maximum scope determined
to be acceptable to permit such provision to be enforceable, such provision will be deemed to be modified to the minimum extent necessary to modify such scope in order to make such provision enforceable hereunder. The Plan and any Award Agreements
contain the entire agreement of the parties with respect to the subject matter thereof and supersede all prior agreements, promises, covenants, arrangements, communications, representations and warranties between them, whether written or oral with
respect to the subject matter thereof. 
 3.21 No Liability With Respect to Tax Qualification or Adverse Tax Treatment 

Notwithstanding anything to the contrary contained herein, in no event will Fogo be liable to a Participant on account of an Award’s
failure to (a) qualify for favorable United States or foreign tax treatment or (b) avoid adverse tax treatment under United States or foreign law, including, without limitation, Section 409A. 

  
 -22- 

 3.22 No Third-Party Beneficiaries 

Except as expressly provided in an Award Agreement, neither the Plan nor any Award Agreement will confer on any person other than Fogo and the
Participant of any Award any rights or remedies thereunder. The exculpation and indemnification provisions of Section 1.3.4 will inure to the benefit of a Covered Person’s estate and beneficiaries and legatees. 

3.23 Successors and Assigns of Fogo 
 The
terms of the Plan will be binding upon and inure to the benefit of Fogo and any successor entity, including as contemplated by Section 3.6. 

3.24 Date of Adoption and Approval of Stockholders 

The Plan was adopted by the Board on     and was approved by Fogo’s stockholders
on            (the “Effective Date”). 

3.25 Limits on Compensation to Non-Employee Directors. 

No non-employee director of Fogo may be granted (in any calendar year) compensation with a value in
excess of $1,000,000, with the value of any equity-based awards based on the accounting grant date value of such award. 

  
 -23-EX-10.10

 Exhibit 10.10 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (“Agreement”) is made and entered into as of this day of [•] by and between Fogo
Hospitality, Inc. (the “Company”), a Delaware corporation, and [•] (“Indemnitee”). 

WHEREAS, the Company benefits by being part of an organization that includes the Fogo Entities (as hereinafter defined); 

WHEREAS, it is in the best interests of the Company that competent and experienced persons serve, and be willing to serve, as directors of the
Company and each of the other Fogo Entities; 
 WHEREAS, the Company has requested that Indemnitee serve or continue to serve as a director
of the Company and has requested that Indemnitee serve on one or more of the Company’s committees; 
 WHEREAS, Indemnitee is willing to
serve as a director of the Company, and as a director or in other capacities at one or more of the other Fogo Entities at the Company’s request, on the condition that he be indemnified by the Company for serving at the Company and such other
Fogo Entities that Indemnitee is requested to serve; 
 WHEREAS, in light of the litigation costs and risks to directors resulting from
their service to companies, and the desire of the Company to attract and retain qualified individuals to serve as directors of the Company and of the other Fogo Entities, it is reasonable, prudent and necessary for the Company to indemnify and
advance expenses on behalf of such individuals to the extent permitted by applicable law so that they will serve or continue to serve at the Company and each of the other Fogo Entities free from undue concern regarding such risks; and 

WHEREAS, Indemnitee may have certain rights to indemnification, advancement of expenses and/or insurance provided by the Designating
Stockholders (as hereinafter defined) (or their affiliates), which Indemnitee, the Company and the Designating Stockholders (or their affiliates) intend to be secondary to the primary obligation of the Company to indemnify Indemnitee as provided
herein, with the Company’s acknowledgement of and agreement to the foregoing being a material condition to Indemnitee’s willingness to serve as a director of the Company; 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree
as follows: 
  

	1.	 Services by Indemnitee. Indemnitee agrees to serve as a director of the Company and, at the
Company’s request, as a member of one or more committees of the Company and as a director of one or more of the other Fogo Entities. Indemnitee may at any time and for any reason resign from such position (subject to any contractual obligation
under any other agreement or any obligation imposed by operation of law). 

	2.	 Indemnification—General. On the terms and subject to the conditions of this Agreement, the Company
shall indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, liabilities, losses, costs, Expenses (as hereinafter defined) and other matters that may result from or arise in connection with Indemnitee’s Corporate
Status (as hereinafter defined) and shall advance Expenses to Indemnitee, to the fullest extent permitted by applicable law. The indemnification obligations of the Company under this Agreement (a) shall continue after such time as Indemnitee
ceases to serve as a director of the Company or of any other Fogo Entity or in any other Corporate Status, and (b) include, without limitation, claims for monetary damages against Indemnitee in respect of any alleged breach of fiduciary duty,
to the fullest extent permitted under applicable law (including, if applicable, Section 145 of the Delaware General Corporation Law) as in existence on the date hereof and as amended from time to time. 

 

	3.	 Proceedings Other Than Proceedings by or in the Right of the Company. If by reason of Indemnitee’s
Corporate Status Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding (as hereinafter defined) other than a Proceeding by or in the right of the Company to procure a judgment in its favor, the Company shall
indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, all Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in
connection with or in respect of such liabilities, judgments, penalties, fines and amounts paid in settlement) reasonably incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding or any claim, issue or matter therein, if
Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company and, with respect to any criminal Proceeding, had no reasonable cause to believe Indemnitee’s conduct
was unlawful. 

  

	4.	 Proceedings by or in the Right of the Company. If by reason of Indemnitee’s Corporate Status
Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor, the Company shall indemnify Indemnitee with respect to, and hold Indemnitee harmless from
and against, all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection with such Proceeding if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in, or not opposed to, the best
interests of the Company; provided, however, that indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as to which Indemnitee shall have been adjudged by a court of competent
jurisdiction to be liable to the Company only if (and only to the extent that) the Court of Chancery of the State of Delaware (the “Delaware Court”) or the court in which such Proceeding shall have been brought or is pending
shall determine that despite such adjudication of liability and in light of all circumstances such indemnification may be made. 

  

	5.	 Mandatory Indemnification in Case of Successful Defense. Notwithstanding any other provision of this
Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to (or a participant in) and is successful, on the merits or otherwise, in defense of any Proceeding (including, without limitation, any Proceeding
brought by or in the right of the Company), the Company shall indemnify Indemnitee 

  
 - 2 - 

	 	
with respect to, and hold Indemnitee harmless from and against, all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in connection therewith. If Indemnitee is not wholly
successful in defense of such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company will indemnify Indemnitee against all Expenses reasonably incurred
by Indemnitee or on behalf of Indemnitee in connection with each claim, issue or matter resolved successfully on the merits or otherwise. For purposes of this Section 5 and without limitation, the termination of any claim,
issue or matter in such a Proceeding by dismissal, with or without prejudice, on substantive or procedural grounds, shall be deemed to be a successful resolution as to such claim, issue or matter. This provision is not intended to limit any other
provision contained herein or any other rights to indemnification to which the Indemnitee may be entitled. 

  

	6.	 Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement or otherwise to
indemnification by the Company for some or a portion of the Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of
such liabilities, judgments, penalties, fines and amounts paid in settlement) incurred by Indemnitee or on behalf of Indemnitee in connection with a Proceeding or any claim, issue or matter therein, but not, however, for the total amount thereof,
the Company shall indemnify Indemnitee for that portion thereof to which Indemnitee is entitled. 

  

	7.	 Indemnification for Additional Expenses Incurred to Secure Recovery or as Witness.

  

	 	(a)	 The Company will indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, any and
all Expenses and, if requested by Indemnitee, will (within twenty (20) calendar days of such request) advance such Expenses to Indemnitee, which are reasonably incurred by Indemnitee in connection with any action brought by Indemnitee for
(i) indemnification or advance payment of Expenses by the Company under this Agreement, any other agreement, the Certificate of Incorporation or By-laws of the Company as now or hereafter in effect; or
(ii) recovery under any director and officer liability insurance policies maintained by any Fogo Entity to the fullest extent permitted by law. 

  

	 	(b)	 To the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness in any Proceeding
to which Indemnitee is not a party, the Company will indemnify Indemnitee with respect to, and hold Indemnitee harmless from and against, and the Company will advance, all Expenses reasonably incurred by Indemnitee or on behalf of Indemnitee in
connection therewith. 

  

	8.	 Advancement of Expenses. 

 

	 	(a)	 The Company shall advance all Expenses reasonably incurred by or on behalf of Indemnitee in connection with the
investigation, defense, settlement or appeal of any Proceeding within twenty (20) calendar days after the receipt by the Company of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior
to or after final disposition of such Proceeding. Such advances shall, in all events, be (i) unsecured and interest free; and (ii) made without regard to Indemnitee’s ability to repay the advances. 

  
 - 3 - 

	 	(b)	 To obtain advancement of Expenses under this Agreement, Indemnitee shall submit to the Company a written
request for advancement of Expenses and, to the extent required by applicable law, an unsecured written undertaking by or on behalf of Indemnitee to repay any Expenses advanced if it shall ultimately be determined that Indemnitee is not entitled to
be indemnified against such Expenses. Upon submission of such request for advancement of Expenses and unsecured written undertaking, Indemnitee shall be entitled to advancement of Expenses as provided in this Section 8, and
such advancement of Expenses shall continue until such time (if any) as there is a final judicial determination that Indemnitee is not entitled to indemnification. 

 

	9.	 Certain Agreements Related to Indemnification. 

 

	 	(a)	 To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request for
indemnification at such time as determined by Indemnitee in Indemnitee’s sole discretion. 

  

	 	(b)	 At any time after submission by Indemnitee of a request for indemnification pursuant to
Section 9(a), either the Company or Indemnitee may petition the Delaware Court for resolution of any objection to such request which may be made by the Company. The Company will pay any and all Expenses reasonably incurred
in connection with the investigation and resolution of such issues. 

  

	 	(c)	 Indemnitee shall have the sole right and obligation to control the defense or conduct of any claim or
Proceeding with respect to Indemnitee with counsel chosen by such Indemnitee; provided, that Indemnitee will not compromise or settle any claim or Proceeding, release any claim, or make any admission of fact, law, liability or damages with respect
to any losses for which indemnification is sought hereunder without the prior written consent of the Company, which consent shall not be unreasonably withheld. The Company will not, with respect to any person or entity, settle any claim or
Proceeding, release any claim, or make any admission of fact, law or liability or damages, or assign, pledge or permit any subrogation with respect to the foregoing, or permit any Fogo Entity to do any of the foregoing, to the extent such
settlement, release, admission, assignment, pledge or subrogation in any way adversely affects Indemnitee or directly or indirectly imposes any expense, liability, damages, debt, obligation or judgment on Indemnitee. 

 

	 	(d)	 The parties intend and agree that, to the extent permitted by law, in connection with any determination with
respect to entitlement to indemnification hereunder: (i) it will be presumed that Indemnitee is entitled to indemnification under this Agreement, and that the Company or any other person or entity challenging such right will have the burden of
proof to overcome that presumption in connection 

  
 - 4 - 

	 	
with the making by any person, persons or entity of any determination contrary to that presumption; (ii) the termination of any action, suit or proceeding by judgment, order, settlement,
conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company, and, with respect to any criminal action or proceeding, had reasonable cause to believe that Indemnitee’s conduct was unlawful; (iii) Indemnitee will be deemed to have acted in good faith if
Indemnitee’s action is based on the records or books of account of the Company, including financial statements, or on information supplied to Indemnitee by the officers, employees, or committees of the board of directors of the Company, or on
the advice of legal counsel for the Company or on information or records given in reports made to the Company by an independent certified public accountant or by an appraiser or other expert or advisor selected by the Company; and (iv) the
knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Company or relevant enterprises will not be imputed to Indemnitee in a manner that limits or otherwise adversely affects Indemnitee’s rights
hereunder. The provisions of this Section 9(d) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in
this Agreement. 

  

	 	(e)	 Indemnitee agrees to notify the Company promptly upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder; provided, however, that any failure of Indemnitee to so
notify the Company will not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise. If at the time of receipt of any such request for indemnification or notice the Company has director and officer
insurance policies in effect, the Company will promptly notify the relevant insurers in accordance with the procedures and requirements of such policies. 

  

	10.	 Other Rights of Recovery; Insurance; Subrogation, etc. 

 

	 	(a)	 The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be
deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, under any of the Fogo Entities’ Certificates of Incorporation or By-Laws, or under any other
agreement, vote of stockholders or resolution of directors of any of the Fogo Entities, or otherwise. Indemnitee’s rights under this Agreement are present contractual rights that fully vest upon Indemnitee’s first service as a director or
officer of the Company. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee in
Indemnitee’s Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in the General Corporation Law of the State of Delaware 

  
 - 5 - 

	 	
(or other applicable law), whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under any of the Fogo
Entities’ Certificates of Incorporation or By-Laws and this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. No
right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 

 

	 	(b)	 To the extent that the Company maintains an insurance policy or policies providing liability insurance for
directors, officers, employees, fiduciaries, representatives, partners or agents of the Company, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any
director, officer, employee, fiduciary, representative, partner or agent insured under such policy or policies. 

  

	 	(c)	 In the event of any payment by the Company under this Agreement, the Company shall be subrogated to the extent
of such payment to all of the rights of recovery of Indemnitee against any other Fogo Entity, and Indemnitee hereby agrees, as a condition to obtaining any advancement or indemnification from the Company, to assign to the Company all of
Indemnitee’s rights to obtain from such other Fogo Entity such amounts to the extent that they have been paid to or for the benefit of Indemnitee as advancement or indemnification under this Agreement and are adequate to indemnify Indemnitee
with respect to the costs, Expenses or other items to the full extent that Indemnitee is entitled to indemnification or other payment hereunder; and Indemnitee will (upon request by the Company) execute all papers required and take all action
necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit or enforce such rights. 

  

	 	(d)	 The Company hereby unconditionally and irrevocably waives, relinquishes and releases, and covenants and agrees
not to exercise (and to cause each of the other Fogo Entities not to exercise), any rights that it may now have or hereafter acquire against any Designating Stockholder (or former Designating Stockholder) or Indemnitee that arise from or relate to
the existence, payment, performance or enforcement of the Company’s obligations under this Agreement or under any other indemnification agreement (whether pursuant to contract, by-laws or charter),
including, without limitation, any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate in any claim or remedy of Indemnitee against any Designating Stockholder (or former Designating
Stockholder) or Indemnitee, whether or not such claim, remedy or right arises in equity or under contract, statute or common law, including, without limitation, the right to take or receive from any Designating Stockholder (or former Designating
Stockholder) or Indemnitee, directly or indirectly, in cash or other property or by set-off or in any other manner, payment or security on account of such claim, remedy or right. 

  
 - 6 - 

	 	(e)	 The Company shall not be liable under this Agreement to pay or advance to Indemnitee any amounts otherwise
indemnifiable hereunder if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement or otherwise; provided, however, that (i) as between the Company and any
Designating Stockholder, the Company hereby agrees that it is the indemnitor of first resort (i.e., its obligations to Indemnitee under this Agreement are primary and any obligation of any Designating Stockholder (or any affiliate thereof other than
a Fogo Entity) to provide advancement or indemnification for the same Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in
respect of such Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement) incurred by Indemnitee are secondary), and (ii) if any Designating Stockholder (or any affiliate thereof other than a Fogo Entity) pays or causes
to be paid, for any reason, any amounts otherwise indemnifiable hereunder or under any other indemnification agreement (whether pursuant to contract, by-laws or charter) with any director or officer of the
Company, then (x) such Designating Stockholder (or such affiliate, as the case may be) shall be fully subrogated to all rights of Indemnitee with respect to such payment and (y) the Company shall reimburse such Designating Stockholder (or
such other affiliate) for the payments actually made. The Company shall take any and all actions as may reasonably be requested by Indemnitee or any Designating Stockholder to cause director and officer liability insurance policies maintained by the
Company to be paid and exhausted to cover any Expenses, liabilities, judgments, penalties, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses,
liabilities, judgments, penalties, fines and amounts paid in settlement) that could be subject to indemnification hereunder before claims are made with respect to such matters under any director and officer liability insurance policies that may be
maintained by any Designating Stockholder or any of its affiliates (other than affiliates that are Fogo Entities or subsidiaries thereof), it being understood and agreed that it is the intent of the parties that any such policies maintained by any
Designating Stockholder or any of such other affiliates would be called upon to provide excess insurance coverage only to the extent of any failure of any liability insurance policies maintained by the Fogo Entities to make payment of any amounts
for which coverage is also available under any liability insurance policies maintained by any Designating Stockholder or any of its affiliates (other than affiliates that are Fogo Entities or subsidiaries thereof). 

 

	 	(f)	 The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee in respect of or
relating to Indemnitee’s service at the request of any of the Company as a director, officer, employee, fiduciary, representative, partner or agent of any other Fogo Entity shall be reduced by any amount Indemnitee has actually received as
payment of indemnification or advancement of Expenses 

  
 - 7 - 

	 	
from such other Fogo Entity, except to the extent that such indemnification payments and advance payment of Expenses when taken together with any such amount actually received from other Fogo
Entities or under director and officer insurance policies maintained by one or more Fogo Entities are inadequate to fully pay all costs, Expenses or other items to the full extent that Indemnitee is entitled to indemnification or other payment
hereunder. 

  

	11.	 Employment Rights; Successors; Third Party Beneficiaries. 

 

	 	(a)	 This Agreement shall not be deemed an employment contract between the Company and Indemnitee. This Agreement
shall continue in force as provided above after Indemnitee has ceased to serve as a director and/or officer of the Company. 

  

	 	(b)	 This Agreement shall be binding upon each of the Company and its successors and assigns and shall inure to the
benefit of Indemnitee and his heirs, executors and administrators. 

  

	 	(c)	 The Designating Stockholders are express third party beneficiaries of this Agreement, are entitled to rely upon
this Agreement, and may specifically enforce the Company’s obligations hereunder (including but not limited to the obligations specified in Section 10 of this Agreement). 

 

	12.	 Severability. If any provision or provisions of this Agreement shall be held to be invalid, illegal or
unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such provision held
to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform to
applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing
any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested thereby. 

 

	13.	 Exception to Right of Indemnification or Advancement of Expenses. Except as provided in
Section 7(a) of this Agreement or as may otherwise be agreed by the Company, Indemnitee shall not be entitled to indemnification or advancement of Expenses under this Agreement with respect to any Proceeding brought by
Indemnitee (other than a Proceeding by Indemnitee by way of defense or to enforce his rights under this Agreement or under statute or other law including any rights under Section 145 of the Delaware General Corporation Law), unless the bringing
of such Proceeding or making of such claim shall have been approved by the Board of Directors of the Company. 

  
 - 8 - 

	14.	 Definitions. For purposes of this Agreement: 

 

	 	(a)	 “Fogo Entity” means the Company, and each of its direct or indirect subsidiaries and
any other corporation, partnership, limited liability company, joint venture, trust, employee benefit plan or other enterprise with respect to which Indemnitee serves as a director, officer, employee, partner, representative, fiduciary or agent, or
in any similar capacity, at the request of the Company, including, without limitation, Brasa (Purchaser) Inc., Brasa (Holdings) Inc., and Fogo de Chão (Holdings) Inc. and its subsidiaries. 

 

	 	(b)	 “Board of Directors” refers to the board of directors of the Company.

  

	 	(c)	 “Certificate of Incorporation” means, with respect to any entity, (i) in the case
of the Company, its certificate of incorporation, and (ii) in the case of any other entity, its certificate of incorporation, articles of incorporation or similar constituting document. 

 

	 	(d)	 “Corporate Status” describes the status of a person in his or her capacity as a
director or officer of any of the Company (including, without limitation, one who serves at the request of any of the Company as a director, officer, employee, fiduciary or agent of any Fogo Entity). 

 

	 	(e)	 “Designating Stockholder” means the Sponsor, so long as an individual designated
(directly or indirectly) by the Sponsor, or any of its affiliates (as provided by the Company’s Certificate of Incorporation or By-laws) serves as a director of any Fogo Entity. 

 

	 	(f)	 “Expenses” shall mean all reasonable costs, fees and expenses and shall specifically
include all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees and costs of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, and
all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness, in, or otherwise participating in, a Proceeding,
including, but not limited to, the premium for appeal bonds, attachment bonds or similar bonds and all interest, assessments and other charges paid or payable in connection with or in respect of any such Expenses. 

 

	 	(g)	 “Proceeding” includes any actual, threatened, pending or completed action, suit,
arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened, pending or completed proceeding, whether brought by or in the right of the Company or otherwise and whether civil,
criminal, administrative or investigative in nature, in which Indemnitee was, is, may be or will be involved as a party, witness or otherwise, by reason of Indemnitee’s Corporate Status or by reason of any action taken by him or her or of any
inaction on his part while acting as director or officer of any Fogo Entity (in each case whether or not he or she is acting or serving in any such capacity or has such status at the time any liability or expense is incurred for which
indemnification or advancement of Expenses can be provided under this Agreement). 

  
 - 9 - 

	 	(h)	 “Sponsor” means Rhône Capital. 

 

	15.	 Construction. Whenever required by the context, as used in this Agreement the singular number shall
include the plural, the plural shall include the singular, and all words herein in any gender shall be deemed to include (as appropriate) the masculine, feminine and neuter genders. 

 

	16.	 Reliance; Integration. 

 

	 	(a)	 The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations
imposed on it hereby in order to induce Indemnitee to serve as a director and/or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director and/or officer of the Company.

  

	 	(b)	 This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter
hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof. 

 

	17.	 Modification and Waiver. No supplement, modification or amendment of this Agreement shall be binding
unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a
continuing waiver. 

  

	18.	 Notice Mechanics. All notices, requests, demands or other communications hereunder shall be in writing
and shall be deemed to have been duly given if (i) delivered by hand and receipted for by the party to whom said notice or other communication shall have been direct, or (ii) mailed by certified or registered mail with postage prepaid, on
the third business day after the date on which it is so mailed: 

  

	 	(a)	 If to Indemnitee to: 

[•] 
  

	 	(b)	 If to the Company, to: 

Fogo Hospitality, Inc. 
 14850
Quorum Drive 
 Suite 500 

Dallas, Texas 75254 
 Attention:
Chief Executive Officer 

  
 - 10 - 

 or to such other address as may have been furnished (in the manner prescribed above) as
follows: (a) in the case of a change in address for notices to Indemnitee, furnished by Indemnitee to the Company and (b) in the case of a change in address for notices to the Company, furnished by the Company to Indemnitee. 

 

	19.	 Contribution. To the fullest extent permissible under applicable law, if the indemnification provided
for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid
or to be paid in settlement and/or for reasonably incurred Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of
such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its
other directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 

  

	20.	 Governing Law; Submission to Jurisdiction; Appointment of Agent for Service of Process. This Agreement
and the legal relations among the parties shall, to the fullest extent permitted by law, be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. The Company and
Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Delaware Court, and not in any other state or federal court in the United
States of America or any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) waive any
objection to the laying of venue of any such action or proceeding in the Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an
improper or otherwise inconvenient forum. 

  

	21.	 Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall
not be deemed to constitute part of this Agreement or to affect the construction thereof. 

  

	22.	 Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all
purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. 

[Remainder of Page Intentionally Blank] 

  
 - 11 - 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year
first above written. 
  

							
	Company:	 		 	FOGO HOSPITALITY, INC.
				
		 		 	By:	 	 
		 		 		 	Name: Barry McGowan
		 		 		 	Title: Chief Executive Officer

							
	 Indemnitee:
	 		 		 	 
		 		 	Name: [•]
		 		 	

  
 [SIGNATURE
PAGE TO INDEMNIFICATION AGREEMENT]

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