Document:

EX-10.8

 Exhibit 10.8 

EMPLOYMENT AGREEMENT 

This Employment Agreement (“Agreement”) is entered as of the 7th day of
September, 2021 (“Effective Date”) by and between Fogo de Chão (Holdings) Inc., a Delaware corporation (“Company”), and Anthony Laday (“Executive”). 

WHEREAS, Executive is currently an employee of the Company, serving as the Company’s Chief Financial Officer. 

WHEREAS, Executive and the Company desire to enter into an agreement regarding certain terms of Executive’s employment. 

NOW, THEREFORE, in consideration of the mutual covenants herein contained, the Company and the Executive hereby agree as follows: 

1. Term. The initial term (“Initial Term”) of employment under this Agreement shall commence and this Agreement shall be effective as
of the Effective Date and shall continue for a period ending on December 31, 2021 unless sooner terminated in accordance with the terms hereof. The Initial Term shall be automatically extended for additional
one-year periods (each such year an “Extended Term”) on the same terms and conditions set forth in this Agreement, unless either party provides notice of his or its intention not to extend
this Agreement at least ninety (90) days prior to the expiration of the Initial Term or, if previously extended, any Extended Term. The Initial Term and any Extended Term may be collectively referred to in this Agreement as the
“Term.” 
 2. Employment Duties. 

(a) Position. Commencing upon the Effective Date and continuing through the period of the Executive’s employment by the Company,
the Executive shall serve as Chief Financial Officer of the Company and shall have the duties, responsibilities and authority set forth on Exhibit A to this Agreement. The Executive shall report to the Chief Executive Officer of the Company.

 (b) Obligations. The Executive agrees to devote his full business time and attention to the business and affairs of the Company.
The foregoing, however, shall not preclude the Executive from (i) serving on corporate, civic or charitable boards or committees or managing personal investments, so long as such activities do not, in the judgment of the Chief Executive
Officer, interfere with the performance of the Executive’s responsibilities hereunder; provided, however, that Executive’s service on any corporate board or committee shall be subject to the prior written approval of the Chief Executive
Officer or (ii) going on leave for vacation as permitted hereunder or illness; provided, however, that leave for vacation shall not interfere with the performance of the Executive’s duties hereunder. 

3. Compensation and Benefits. 
 (a)
Base Salary. During the period of the Executive’s employment by the Company, the Executive shall receive an annual base salary of not less than US$400,000 (“Base Salary”) payable in equal semi-monthly installments, less
applicable withholdings. Each year, the Chief Executive Officer shall review the Base Salary and other compensation of the Executive based upon performance and other factors deemed appropriate by the Chief Executive Officer and, subject to approval
by the Board of Directors of the Company (the “Board”) make such increases or decreases as Chief Executive Officer and the Board deem appropriate. 

 (b) Annual Performance Bonus. During the period of the Executive’s employment by
the Company hereunder, the Executive shall receive each year an annual performance bonus (“Annual Performance Bonus”) based upon achievement of budget and performance goals established by the Chief Executive Officer and the Board
for the year. The Annual Performance Bonus shall be determined in accordance with the criteria set forth in Exhibit B, which will be in effect for the Company’s 2021 fiscal year. The Annual Performance Bonus shall have a target amount as
specified in the Company’s Budget (“Target Bonus Amount”), which amount shall be no less than 60% of the Executive’s Base Salary. The Annual Performance Bonus shall be paid not later than March 15 of the calendar year
following the end of the calendar year in which the Annual Performance Bonus is earned. 
 (c) Employee Benefits. The Executive shall
be entitled to the following benefits during the period of the Executive’s employment by the Company hereunder: (i) to the extent permitted by applicable law, the Executive shall be entitled to receive benefits and fringes (whether
subsidized in part, or paid for in full by the Company) including, but not limited to, medical, dental and disability insurance, which the Company now or in the future generally offers to its executive officers; (ii) the Company will pay the
entire amount of each monthly premium for full family coverage for the benefit of the Executive and the Executive’s family under the Company’s health and dental insurance plans in which the Executive and the Executive’s family members
are eligible to participate; and (iii) the Executive shall be eligible to participate in any of the Company’s savings, retirement and other qualified and non-qualified plans sponsored by the Company.

 (d) Expenses. The Executive shall be entitled to receive prompt reimbursement of all expenses reasonably incurred by him in
connection with the performance of his duties hereunder, in each case in accordance with policies established by the Board from time to time and upon receipt of appropriate documentation. Upon the Executive’s termination of employment (as
provided in, and subject to the provisions of, Section 4), any outstanding reimbursement requests must be submitted promptly and payment shall occur thereafter but no later than December 31st of the calendar year following
the calendar year in which such expenses were incurred. 
 (e) Office and Facilities. The Executive shall be provided with an
appropriate office and with such secretarial and other support facilities as are determined by the Chief Executive Officer to be commensurate with the Executive’s status with the Company and adequate for the performance of his duties hereunder.

 (f) Vacation. The Executive shall be entitled to four (4) weeks of annual vacation in accordance with the policies
periodically established by the Board. 
 (g) Airline Travel. The Executive shall be entitled to and the Company shall arrange and pay
for business class air travel (or first class for flights that offer only two (2) classes of service) for flights in excess of two (2) hours. 

  
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 4. Termination and Payments Upon Termination. 

(a) Death. The Executive’s employment hereunder shall terminate upon the Executive’s death. 

(b) Disability. Either the Executive or the Company shall be entitled to terminate the Executive’s employment for
“Disability” by giving the other party a Notice of Termination (as defined below). For purposes of this Agreement, “Disability” shall mean the Executive’s inability to perform his duties for a period of thirty
(30) consecutive days or sixty (60) days in any calendar year as a result of physical or mental impairment, illness or injury, and such condition, in the opinion of a medical doctor selected by either the Executive or the Company and
reasonably acceptable to the other party (if the Executive, then, if applicable, his legal representative), is total and long-term or permanent. 

(c) Cause. The Company shall be entitled to terminate the Executive’s employment for Cause by giving the Executive a Notice of
Termination. For purposes of this Agreement, “Cause” shall mean: (i) the Executive’s misappropriation or theft of the Company’s or any of its subsidiary’s funds or property, (ii) the Executive’s
conviction or entering of a plea of nolo contendere of any fraud, misappropriation, embezzlement or similar act, felony or crime involving dishonesty or moral turpitude, (iii) the Executive’s engagement in any conduct that is
materially injurious to the Company or the Executive’s material breach of this Agreement or material failure to perform any of his duties assigned by the Chief Executive Officer or (iv) the Executive’s commission of any act involving
willful malfeasance or gross negligence or the Executive’s failure to act involving material nonfeasance. 
 (d) Without Cause.
The Board may terminate the Executive’s employment hereunder, without Cause, at any time and for any reason or for no reason by giving the Executive a Notice of Termination (as defined below). 

(e) Voluntary Termination. The Executive may terminate his employment hereunder at any time and for any reason by giving the Company a
Notice of Termination. 
 (f) Notice of Termination. For purposes of this Agreement, a “Notice of Termination” shall
mean a notice given by either the Company or the Executive which terminates the Executive’s employment under this Agreement. The Termination Date (as defined below) specified in such Notice of Termination shall be, (x) if notice is given
by the Executive, no less than three months from the date the Notice of Termination is given, and (y) if notice is given by the Company, no less than two weeks from the date the Notice of Termination is given; provided, however, that if
(i) the Executive’s employment is terminated by the Company due to Disability, the date specified in the Notice of Termination shall be at least thirty (30) days from the date the Notice of Termination is given to the Executive, and
(ii) the Executive’s employment is terminated by the Company for Cause, the Termination Date shall be the date specified in the Notice of Termination. 

(g) Termination Date. “Termination Date” shall mean the date of the termination of the Executive’s employment with
the Company and specifically (i) in the case of the Executive’s death, his date of death; (ii) in the case of the expiration of the Term of this Agreement in accordance with Section 1, the date of such
expiration; and (iii) in all other cases, the date specified in the Notice of Termination, as defined in Section 4(f). 

  
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 5. Compensation Upon Termination of Employment. 

(a) Termination by Company with Cause. If during the Term of this Agreement, the Executive’s employment under this Agreement is
terminated (i) by the Company for Cause or (ii) by the Executive, the Company’s sole obligation hereunder shall be to pay the Executive the following amounts earned, accrued or owing hereunder but not paid as of the Termination Date
(collectively, “Accrued Compensation”): 
 (i) Base Salary and vacation, each to the extent accrued but unpaid through the
Termination Date; 
 (ii) any amounts which the Executive had previously deferred; and 

(iii) reimbursement of any and all reasonable expenses incurred in connection with the Executive’s duties and responsibilities under this
Agreement in accordance with policies established by the. Board from time to time and upon receipt of appropriate documentation; and other or additional benefits and entitlements in accordance with applicable plans, programs and arrangements of the
Company. 
 The Accrued Compensation shall be paid in a single lump-sum cash payment within ten (10) days
following the Executive’s Termination Date, except that any portion thereof required to be paid sooner under applicable law shall be paid by the applicable deadline. The Executive shall not be entitled to any other payment after payment in full
of the Accrued Compensation, other than any payment required under any indemnification obligation of the Company and employee benefits to which the Executive is entitled under COBRA (as defined in Section 5(f)), which
obligations shall survive termination (collectively, “Post-Termination Obligations”). 
 (b) Disability. If the
Executive’s employment hereunder is terminated by either party by reason of the Executive’s Disability, the Company’s shall pay the Executive the unpaid Accrued Compensation through the Termination Date within thirty (30) days
following the Executive’s Termination Date, except that any portion thereof required to be paid sooner under applicable law shall be paid by the applicable deadline. 

(c) Death. If the Executive’s employment hereunder is terminated due to his death, the Company shall: 

(i) pay the Executive’s estate or his beneficiaries (as the case may be) the unpaid Accrued Compensation through the Termination Date
within thirty (30) days following the Executive’s Termination Date, except that any portion thereof required to be paid sooner under applicable law shall be paid by the applicable deadline; and 

(ii) provide such assistance as is necessary to facilitate the payment of any life insurance proceeds provided for in
Section 3(e) of this Agreement that may be payable to the Executive’s beneficiary or beneficiaries. 

  
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 (d) Termination by Company without Cause. If during the Term of this Agreement, the
Executive’s employment is terminated by the Company without Cause pursuant to Section 4(d), the Company shall pay the Executive the following amounts: 

(i) the Accrued Compensation; 

(ii) an amount equal to the product of 75% times the sum of (y) Executive’s then current annual Base Salary plus (z) the
aggregate of the Annual Performance Bonus paid or payable for the fiscal year immediately preceding the fiscal year in which termination occurs (such product referred to herein as the “Severance Payment”); and 

(iii) the Post-Termination Obligations. 
 The
Accrued Compensation shall be paid by the deadline prescribed in Section 5(a) and the Severance Payment, if such payment is payable pursuant to this Section 5(d), shall be paid in cash in three
installments as follows: fifty percent (50%) of the Severance Payment shall be paid within thirty (30) days following the Termination Date, twenty-five percent (25%) shall be paid on the 6-month
anniversary of the Termination Date and the remaining twenty-five percent (25%) shall be paid on the 12-month anniversary of the Termination Date, provided, however, that any portion thereof required to be
paid sooner under applicable law shall be paid by the applicable deadline. 
 (e) Determination of Base Salary. For purposes of this
Section 5, Base Salary shall be determined by the Base Salary at the annualized rate in effect on the Termination Date. 

(f) Continuation of Employee Benefits. Subject to applicable law, the Company shall, at its expense, provide to the Executive and his
beneficiaries continued participation in all medical, dental, vision, prescription drug, hospitalization and life insurance coverages and in all other employee benefit plans, programs and arrangements in which the Executive was participating
immediately prior to the Termination Date (other than equity compensation plans, programs and arrangements), on terms and conditions that are no less favorable than those that applied on the Termination Date, for a period of six months following the
Termination Date, if the Executive’s employment is terminated by the Company other than for Cause. In each case, benefits required pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) will commence after the
applicable period has been completed. Notwithstanding the foregoing, the Company’s obligation under this Section 5(f) shall be reduced to the extent that equivalent coverages and benefits (determined on a coverage-by-coverage and benefit-by-benefit basis) are provided under the plans, programs or
arrangements of a subsequent employer of the Executive. 
 (g) Offset. In the event of any termination of his employment hereunder,
all payments or benefits to which the Executive may be entitled pursuant to this Agreement shall be offset or reduced by the amount of any compensation or benefit provided to the Executive in any subsequent employment. 

  
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 (h) Section 409A. It is the intent of this Agreement that no payment to the Executive
shall result in nonqualified deferred compensation within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury Regulations and applicable guidance promulgated thereunder.
However, in the event that all, or a portion, of the payments set forth in this Agreement meet the definition of nonqualified deferred compensation, the Company intends that such payments be made in a manner that complies with Section 409A of
the Code and any guidance issued thereunder. The Company shall use its best efforts to fulfill this intent, including, but not limited to, making any amendments to this Agreement as may be necessary to comply with the provisions of Section 409A
of the Code. In addition, the following delay of payment will not in and of itself constitute a violation of the deferral or distribution requirements of Section 409A of the Code so long as such delay is based on the Company’s reasonable
understanding that such payment would violate U.S. federal securities laws or other applicable laws; provided payment shall be made at the earliest date at which the Company reasonably anticipates making the payment will not cause such violation.

 Payment or reimbursement of any expenses incurred by Executive pursuant to this Agreement, if any, other than reimbursements that would otherwise be
exempt from income or the application of Code Section 409A, shall be made promptly and in no event later than December 31 of the year following the year in which such expenses were incurred, and the amount of such expenses eligible for
payment or reimbursement, or in-kind benefits provided, in any year shall not affect the amount of such expenses eligible for payment or reimbursement, or in-kind
benefits to be provided, in any other year, except for any limit on the amount of expenses that may be reimbursed under an arrangement described in Code Section 105(b). Additionally, any right to expense reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit. 
 For purposes of this Agreement,
phrases like “termination of employment,” “termination of Executive’s employment,” “Executive terminates his employment”, and similar phrases shall be interpreted to comply with the requirements of Code
Section 409A and the Treasury regulations and applicable guidance promulgated thereunder. 
 For the avoidance of doubt, nothing in this Agreement is
intended to guarantee that Executive shall not be subjected to the payment of “additional tax” or interest under Code Section 409A, and nothing in the Agreement permits Executive to seek or obtain such indemnification from the Company
for any such “additional tax” or interest. 
 6. Employer Covenants. 

(a) The Company agrees, in consideration for the Executive’s covenants made herein, to (i) provide the Executive with Trade Secrets
and Confidential Information of the Company such as those examples identified below, or access to such information; (ii) provide the Executive with goodwill support such as expense reimbursements in accordance with the Company’s policy
limits, provide access to Confidential Information, and/or facilitate contact with suppliers, in order to help the Executive develop goodwill for the Company; and, (iii) provide the Executive with specialized training covering its products,
sales techniques and/or other information. The agreements in this Section 6(a) are fully enforceable at the time they are made and are not contingent upon continued employment of the Executive. For purposes of this
Agreement, “Trade Secrets” are information of special value, not generally known to the public, that the Company has taken steps to maintain as secret from persons other than those selected by the Company. “Confidential
Information” is information acquired by the Executive in the course 

  
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 and scope of his activities for the Company that may be designated or marked by the Company as
“Confidential” or that the Company indicates through its policies, procedures, or other instructions should not be disclosed to anyone outside the Company. Without limitation, some examples of protected Confidential Information and Trade
Secrets under this Agreement are internal financial data, research and development regarding existing and prospective site locations and suppliers, personnel evaluations, information and material provided to the Company by third parties in
confidence and/or with nondisclosure restrictions, computer access passwords, and internal market studies or surveys. 
 7. Executive Covenants. 

(a) Unauthorized Disclosure. The Executive shall not, during the Term of this Agreement and thereafter, make any Unauthorized
Disclosure. For purposes of this Agreement, “Unauthorized Disclosure” shall mean disclosure by the Executive without the prior written consent of the Board to any person, other than an employee of the Company or a person to whom
disclosure is reasonably necessary or appropriate in connection with the performance by the Executive of his duties as an executive officer of the Company, of any Confidential Information relating to the business or prospects of the Company
including, but not limited to, any Confidential Information with respect to any of the Company’s suppliers, products, strategies, business and marketing plans and business policies and practices, except (i) to the extent disclosure is or
may be required by law, by a court of law or by any governmental agency or other person or entity with apparent jurisdiction to require him to divulge, disclose or make available such information or (ii) in confidence to an attorney or other
advisor for the purpose of securing professional advice concerning the Executive’s personal matters provided such attorney or other advisor agrees to observe these confidentiality provisions. Unauthorized Disclosure shall not include the use or
disclosure by the Executive, without consent, of any information known generally to the public or known within the Company’s trade or industry (other than as a result of disclosure by him in violation of this
Section 7(a)). This confidentiality covenant has no temporal, geographical or territorial restriction. 
 (b) Non-Competition. The Executive agrees that, during his employment by the Company pursuant to this Agreement and for a period of two (2) years following the Termination Date, for any reason, of his
employment hereunder, he will not, directly or indirectly and in any way, whether as principal or director, officer, employee, consultant, agent, partner or stockholder to another entity (other than by the ownership of a passive investment interest
of not more than 2.5% of the outstanding equity securities of a company with publicly traded equity securities): 
 (i) own, manage, operate,
control, be employed by, participate in, or be connected in any manner with the ownership, management, operation, or control of any business which involves the development, opening, operation or franchising of restaurants that derive more than
twenty-five percent (25%) of their annual food sales from steak products in the United States; 

  
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 (ii) contact, interfere with, solicit on behalf of another, or attempt to entice away from
the Company (or any affiliate or subsidiary of the Company): 
 (1) any supplier of the Company (or any subsidiary of the Company) that
supplied a material supply of goods to the Company during the Term; or 
 (2) any contract, agreement or arrangement that the Company (or
any affiliate or subsidiary of the Company) is actively negotiating with any other party at the Termination Date; or 
 (3) any prospective
business opportunity that the Company (or any subsidiary of the Company) has identified to the Board in writing prior to the Termination Date. 

(c) Non-Solicitation. The Executive agrees that he will not for a period of two (2) years
immediately following the termination of his employment, for any reason, either on his own account or in conjunction with or on behalf of any other person, company, business entity or other organization, directly or indirectly: 

(i) induce, solicit, entire or procure any person who is an employee of the Company to leave such employment, where that person is: 

(1) a Company employee on the Termination Date; or 

(2) had been a Company employee in any part of the three (3) years immediately preceding the Termination Date; 

(ii) accept into employment or otherwise engage or use the services of any person who: 

(1) is a Company employee on the Termination Date; or 

(2) had been a Company employee in any part of the three (3) years immediately preceding the Termination Date. 

(iii) The Executive agrees that in the event of receiving from any person, company, business entity, or other organization an offer or
employment either during the continuance of this Agreement or during the continuance in force of any of the restrictions set out herein, he will forthwith provide to such person, company, business entity, or other organization making such the offer
of employment a full and accurate copy of Section 7 of this Agreement signed by the parties hereto. 
 (d) Non-disparagement. The Employee agrees that he will not at any time make, publish or communicate to any person or entity or in any public forum any defamatory or disparaging remarks, comments or statements
concerning the Company or its businesses, or any of its employees, officers or directors. This subsection does not, in any way, restrict or impede the Employee from exercising his rights under Section 7 of the National Labor Relations Act to
the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed
that required by the law, regulation or order. 

  
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 (e) Remedies. The Executive agrees that any breach of the terms of this
Section 7 would result in irreparable injury and damage to the Company for which the Company would have no adequate remedy at law; the Executive therefore also agrees that in the event of said breach or any threat of
breach, the Company shall be entitled to an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Executive and/or any and all persons and/or entities acting for and/or with the
Executive, without having to prove damages, in addition to any other remedies to which the Company may be entitled at law or in equity. The terms of this Section 7(e) shall not prevent the Company from pursuing any other
available remedies for any breach or threatened breach hereof, including but not limited to the recovery of damages from the Executive. 
 8. Successors
and Assigns. 
 (a) This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors and assigns. The
Company shall require any successor or assign (whether, in each instance, direct or indirect, by purchase, merger, consolidation, sale of all or substantially all of the business and/or assets of the Company or otherwise) to expressly assume and
agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place. The term “Company” as used herein shall include any such
successors and assigns. The term “successors and assigns” as used herein shall mean a corporation or other entity acquiring or otherwise succeeding to, directly or indirectly, all or substantially all the assets and business of the
Company (including this Agreement) whether by operation of law or otherwise. 
 (b) Neither this Agreement nor any right or interest
hereunder shall be assignable or transferable by the Executive, his beneficiaries or legal representatives, except by will or by the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the
Executive’s legal personal representative. 
 9. Venue. In the event of any controversy or claim between the Company or any of its affiliates
and the Executive arising out of or relating to this Agreement that is not settled by mutual agreement or arbitration pursuant to Section 20, such controversy or claim (only to the extent arbitration is not required
pursuant to Section 20) shall be determined in a court of competent jurisdiction in Dallas County, Texas, or the federal court for Dallas County, Texas, and each party waives any claim to have the matter heard in any other
local, state, or federal jurisdiction. 
 10. Severability. If, for any reason, any provision of this Agreement is held invalid, illegal or
unenforceable such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement not held so invalid, illegal or unenforceable, and each such other provision shall, to the full extent consistent with law, continue
in full force and effect. In addition, if any provision of this Agreement shall be held invalid, illegal or unenforceable in part, such invalidity, illegality or unenforceability shall in no way affect the rest of such provision not held so invalid,
illegal or unenforceable and the rest of such provision, together with all other provisions of this Agreement, shall, to the full extent consistent with law, continue in full force and effect. If any provision or part thereof shall be held invalid,
illegal or unenforceable, to the fullest extent permitted by law, a provision or part thereof shall be substituted therefor that is valid, legal and enforceable. 

  
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 11. Headings. The headings of sections are included solely for convenience of reference and shall not
control the meaning or interpretation of any of the provisions of this Agreement. 
 12. Withholding. All amounts paid pursuant to this Agreement
shall be subject to withholding for taxes (federal, state, local or otherwise) to the extent required by applicable law. 
 13. No Conflicts. Each of
the Company and Executive represents and warrants to the other party that neither the execution, delivery and performance by such person of this Agreement will conflict or be inconsistent with or result in any breach of any of the terms, covenants,
conditions or provisions of, any agreement to which such person is a party or which it or she may be subject. 
 14. Notice. For the purposes of this
Agreement, notices and all other communications provided for in the Agreement (including the Notice of Termination) shall be in writing and shall be deemed to have been duly given when personally delivered or three days after being sent by sent by
registered or certified mail, return receipt requested, postage prepaid, or upon receipt if overnight delivery service or facsimile is used, addressed as follows: 
  

			
	        To the Executive:	  	 Anthony Laday
 6001 Jericho Court

Dallas, Texas 75248

		
	        To the Company:	  	 Fogo de Chão (Holdings) Inc.
 5908
Headquarters Drive
 Suite K200
 Dallas, TX 75204

Attn: Chief Executive Officer

 15. Settlement of Claims. The Company’s obligation to make the payments provided for in this Agreement and
otherwise to perform its obligations hereunder shall not be affected by any circumstances, including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may
have against the Executive. 
 16. Survivorship. Except as otherwise set forth in this Agreement, the respective rights and obligations of the
Executive and the Company hereunder shall survive any termination of the Executive’s employment. 
 17. Miscellaneous. No provision of this
Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by the Executive and the Company except for increases in the Base Salary, other compensation and benefits provided for
in Section 3. No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a
waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. No agreement or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made by either party
which are not expressly set forth in this Agreement. 

  
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 18. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with
the laws of the State of Texas without giving effect to the conflict of law principles thereof. 
 19. Entire Agreement. This Agreement constitutes
the entire agreement between the parties hereto with respect to the employment of the Executive by the Company and supersedes all prior agreements, if any, understandings and arrangements, oral or written, between the parties hereto with respect to
the subject matter hereof including without limitation any non-compete covenant agreed to by the Executive. This Agreement may be executed in one or more counterparts. 

20. Arbitration. Any claim or dispute arising under or relating to this Agreement or the breach, termination, or validity of any term of this Agreement
shall be subject to arbitration, and prior to commencing any court action, the parties agree that they shall arbitrate all controversies; provided, however, that nothing in this Section shall prohibit the Company from exercising its right under
Section 7 hereof to pursue injunctive remedies with respect to a breach or threatened breach of the Executive’s covenants. The arbitration shall be conducted in Dallas, Texas, in accordance with the Employment Dispute
Rules of the American Arbitration Association and the Federal Arbitration Act, 9 U.S.C. §1, et. seq. Any award shall be binding and conclusive upon the parties hereto, subject to 9 U.S.C. §10. Each party shall have the right to have the
award made the judgment of a court of competent jurisdiction. Pending the resolution of any claim under this Agreement, the Executive (and his beneficiaries) shall continue to receive all payments and benefits due under this Agreement, except to the
extent that the arbitrator (or a Court if an action is brought to enforce Section 7) otherwise provides. 
 21. Attorneys’
Fees. In the event of any action for the breach of this Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees, costs and expenses incurred in connection with such action. 

  
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 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized officer and the Executive has executed this Agreement as of the day and year first above written. 
  

	
	 COMPANY:
  

Fogo de Chão (Holdings) Inc.,
 A Delaware
corporation

 
			
		
	By:	 	 /s/ G. Barry McGowan

 
	
	Name: G. Barry McGowan
	Title: Chief Executive Officer
	
	EXECUTIVE:
	
	 /s/ Anthony Laday

	Anthony Laday

  
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 EXHIBIT A 

Duties, Responsibilities and Authority 

The Executive shall be responsible for the general supervision and direction of the Company’s finances (including financial planning, management of
financial risks, record-keeping, financial reporting, and data analysis), accounting, information technology, and supply chain. 
 The Executive shall at
all times be subject to the direction of the Chief Executive Officer and such limitations as prescribed by the Company’s Board of Directors. The Executive understands and agrees that the Company is a rapidly growing and changing organization
and the precise nature of the work to be performed by the Executive as Chief Financial Officer may be adjusted by the Chief Executive Officer from time to time without adjustment in salary or other compensation. 

  
 A-1 

 EXHIBIT B 

[Criteria for Annual Performance Bonus] 

[TBD] 

  
 B-1 

 FIRST AMENDMENT TO FOGO DE CHAO (HOLDINGS) INC. 

EMPLOYMENT AGREEMENT 

THIS FIRST AMENDMENT TO FOGO DE CHAO (HOLDINGS) INC. EMPLOYMENT. AGREEMENT is entered into this November 8, 2021 by and among Fogo
de Chao (Holdings) Inc., a Delaware corporation (the “Company”) and Anthony Laday (“Executive”) (each a “Party” and collectively, the “Parties”). 

WHEREAS, the Company and Executive are parties to the Fogo De Chao (Holdings) Inc., dated as of September 7, 2021 (the
“Agreement”); and 
 WHEREAS, the Parties wish to supplement Paragraph 5(h) of the Agreement. 

NOW, THEREFORE, in consideration of the promises and other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto do hereby agree as follows: 
 1. Effective November 8, 2021, Paragraph 5(h) of the Agreement,
shall be amended by adding the following paragraph: 
 “Notwithstanding any provision of this Agreement to the contrary, if necessary to
comply with the restriction in Section 409A(a)(2)(B) of the Code concerning payments to “specified employees” (as defined in Section 409A) any payment on account of Executive’s separation from service that would otherwise be
due hereunder within six months after such separation will nonetheless be delayed until the first business day of the seventh month following Executive’s date of termination and the first such payment will include the cumulative amount of any
payments that would have been paid prior to such date if not for such restriction.” 

  

Page 1 of 2 

 2. Except as provided herein, all terms and conditions of the Agreement remain in full force
and effect. 
 The signatures below signify that both Executive and Company understand and accept all of the above terms relating to this
FIRST AMENDMENT TO FOGO DE CHAO (HOLDINGS) INC. EMPLOYMENT AGREEMENT. 
  

			
	So Agreed:
		
	FOGO DE CHAO (HOLDINGS) INC.	  	
		
	 /s/ Barry McGowan
	  	
	 By:    Barry McGowan
 Title:
Chief Executive Officer
	  	Date: 11/8/2021
		  	
	EXECUTIVE	  	
		
	 /s/ Anthony Laday
	  	
	Anthony Laday	  	Date: 11/8/2021

  
 Page 2 of 2EX-10.9

 Exhibit 10.9 

SEPARATION AND RELEASE AGREEMENT 

This Separation and Release Agreement (“Agreement”) is made and entered into by and between Antonio Bautista, an
individual, on behalf of herself/himself and her/his spouse, agents, representatives, attorneys, assigns, heirs, executors, administrators, beneficiaries and trustees (collectively, “Employee”), and each of Fogo de
Chão (Holdings) Inc. and Fogo de Chão Churrascaria (Dallas) LLC on behalf of itself, and their respective predecessors, successors, all former, current and future related or affiliated companies, divisions, subsidiaries, affiliates and
parents, and, collectively, their former, current and future directors, officers, employees, agents, representatives, equity owners, attorneys, fiduciaries, assignees, heirs, executors, administrators, beneficiaries and trustees. Fogo de Chão
(Holdings) Inc. and Fogo de Chão Churrascaria (Dallas) LLC are referenced collectively as the “Company”. Employee and the Company are referenced collectively as the “Parties.” 

Whereas, the Company has employed Employee and the Parties are desirous of terminating their employment relationship under certain terms and
conditions as follows: 
 1. Separation of Employment: The Parties agree that Employee’s separation of employment will be effective as of
June 29, 2020 (“Separation Date”), whereupon all benefits and privileges related thereto will cease, except as set forth herein. Employee shall be paid for all services performed prior to and on the Separation Date or
such earlier date as may be required, and to the extent so required, under applicable law. 
 2. Payments: In consideration of the releases and other
consideration described in this Agreement, the Company agrees to pay Employee an aggregate gross sum in the amount of Two Hundred Seven Thousand Five Hundred and 00/100 Dollars ($207,500.00) (the “Aggregate Payment”) less
lawful applicable deductions and withholdings. The Aggregate Payment shall be made in thirteen bi-weekly installments of Fifteen Thousand Nine Hundred Sixty-One and
54/100 Dollars ($15,961.54), less lawful applicable deductions and withholdings, commencing with the Company’s first regular payroll payments to its employees that occur after the end of the Revocation Period defined below (assuming that
Employee does not revoke the Agreement prior to the end of the Revocation Period in accordance with paragraph 5 below). The payments are intended to qualify for the exception set forth in
Section 1.409A-1 (b)(9) of the Treasury regulations and shall be interpreted and administered in accordance with this intention. Employee represents and warrants that Employee has been fully and
appropriately paid for all hours worked and services rendered during Employee’s employment with the Company, and that Employee has no outstanding claims against any of the Released Parties (as defined in paragraph 4 below) for wages,
commissions, bonuses, or other compensation. 
 The Company and you acknowledge that you hold Common Interests and Incentive Interests (each
as defined in the Amended and Restated Limited Partnership Agreement of Prime Cut Holdings L.P., the “Partnership Agreement”) in Prime Cut Holdings L.P. (the “Partnership”) and that all of the Incentive Interests that you hold
will be forfeited automatically in connection with the termination of your employment. The Partnership hereby provides notice that it exercises its option under Section 7.2(a) of the Partnership Agreement to purchase all of your Common
Interests for One Hundred Twenty Five Thousand and 00/100 Dollars ($125,000.00) and the cancellation of the Promissory Note executed in connection with the issuance of your Common Interests. The Partnership will separately provide you documents to
effect this repurchase and cancellation. 

 3. Benefits, Coverage and Outplacement: Employee’s insurance and all other benefits from the
Company will terminate on the Separation Date. Following the Separation Date, the employee will be entitled to the right to elect to continue, at the Employee’s expense, coverage under the Company’s group insurance plan in accordance with
the health care continuation coverage provisions of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”). The Employee will be provided with all requisite COBRA paperwork necessary to elect continued
group health care coverage. 
 4. General Release: For and in consideration of the payments and promises set forth above and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Employee hereby releases, acquits, and forever discharges the Company and all parents, subsidiaries, affiliates, partners, joint venturers, equity owners, and shareholders,
and each of their respective officers, directors, employees, representatives, attorneys, and agents, and all successors and assigns thereof (collectively referred to as the “Released Parties”), from any and all claims,
charges, complaints, demands, liabilities, obligations, promises, agreements, controversies, damages, actions, causes of action, suits, rights, entitlements, costs, losses, debts, and expenses (including attorneys’ fees and legal expenses), of
any nature whatsoever, known or unknown, fixed or contingent, which Employee now has, had, or may hereafter claim to have had against the Company or any of the Released Parties, of any kind or nature whatsoever, arising from any act, omission,
transaction, matter, or event which has occurred or is alleged to have occurred up to the date this Agreement is executed by Employee. This release includes, without limitation, a knowing and voluntary waiver of all claims relating in any way to
Employee’s employment with the Company or the conclusion of that employment, whether such claims are now known or are later discovered. The claims knowingly and voluntarily waived by Employee include, without limitation, to the maximum extent
permitted by law, all claims, causes of action, or disputes arising out of or related to: (i) Employee’s employment or separation of employment with the Company; and (ii) any other disputes or claims, known or unknown, fixed or
contingent, that existed or exist at law or equity or sounding in contract (express or implied) or tort, known or unknown, fixed or contingent, that existed or exist among the Employee, the Company and the Released Parties arising under any federal,
state, or local laws of any jurisdiction that prohibit harassment and/or discrimination because of sex, race, national origin, color, disability, religion, veteran, military status, sexual orientation, the filing of a workers’ compensation
claim, genetic information, or any other form of discrimination, harassment, or retaliation (including, without limitation, the Title VII of the Civil Rights Act of 1964, Section 1981 of the Civil Rights Act of 1866, the Civil Rights Act of
1991, the Americans with Disabilities Act, the Rehabilitation Act, the Family and Medical Leave Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act, the Genetic Information Nondiscrimination Act,
the Fair Labor Standards Act, the Sarbanes-Oxley Act, the Worker Adjustment and Retraining Notification Act, the Texas Labor Code, the Florida labor statutes, claims relating to breach of contract, breach of any implied covenant of good faith and
fair dealing, wrongful termination, wrongful demotion, intentional or negligent infliction of emotional 

  
 2 

 
distress, interference with contractual relations or economic advantage, defamation, misrepresentation, benefits, penalties, fees, costs, expenses, or any other claim relating to or arising out
of Employee’s employment with the Company or any other federal, state, or local laws of any jurisdiction), claims arising under the Employee Retirement Income Security Act, or any other statutory or common law claims arising on or before the
date of execution of this Release; provided, however, that nothing in this Agreement shall be interpreted to release any claims which Employee may have for workers’ compensation benefits, unemployment benefits, or any entitlement to employee
benefits in which Employee already is vested as of the date of this Agreement. In addition to the other acknowledgments in this Agreement, Employee acknowledges that this Agreement may be pled as a complete defense and shall constitute a full and
final bar to any claim for damages or other relief based on any act, omission, transaction, matter, or event which has occurred or is alleged to have occurred up to the date this Agreement is executed by Employee. 

5. ADEA Release and Revocation Period: Pursuant to the Older Workers Benefit Protection Act (“OWBPA”), Employee hereby knowingly
and voluntarily agrees to waive and release any right or claim under the Age Discrimination in Employment Act of 1967 (“ADEA”) against the Released Parties. In this regard, Employee agrees and warrants that Employee has
carefully read and fully understands the provisions of this Agreement, and that Employee is receiving consideration from the Company over and above anything of value to which Employee is otherwise entitled. Employee is not waiving or releasing any
right or claim that may arise under the ADEA after Employee signs this Agreement. Employee has the right to, and should, consult with an attorney before signing this Agreement. 

Employee has twenty-one (21) days from the date Employee received this Agreement to consider it
and sign it. If Employee chooses to sign this document, Employee has seven (7) days after signing to change Employee’s mind and revoke the Agreement (the “Revocation Period”). If Employee chooses to revoke the
Agreement, Employee must deliver a written notice of revocation to Fogo de Chão (Holdings) Inc., 5908 Headquarters Drive, Suite K200, Plano TX 75024, Attention: General Counsel; email: bbernet@fogo.com. Any such revocation must be actually
received by the Company within the Revocation Period or it will be null and void. The Company and Employee agree this Agreement shall not become effective or enforceable until the Revocation Period has expired with no revocation taking place. 

6. Cooperation: Subject to the provisions of paragraph 10 below, Employee agrees to reasonably cooperate with the Company: (a) regarding the
transition of any business matters Employee handled or had involvement with on behalf of the Company; and (b) in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of
any of the Released Parties that relate in any way to events or occurrences that transpired while Employee was employed by the Company. Employee’s cooperation in connection with such claims or actions will include, but not be limited to, being
available to meet with the Company’s counsel to prepare for discovery or any legal proceeding, and to act as a witness on behalf of the Company at mutually convenient times. The Company will reimburse Employee for all reasonable, pre-approved out-of-pocket costs and expenses (but not including attorneys’ fees, costs or compensation for time) that Employee
incurs in connection with Employee’s obligations under this section of the Agreement, to the extent permitted by law. 

  
 3 

 7. Non-Disclosure of Confidential Information: Employee
acknowledges and agrees that incident to Employee’s employment with the Company, Employee had access to and became familiar with certain proprietary, confidential, and otherwise sensitive information relating to the business or affairs of the
Company (“Confidential Information”). Non-exhaustive examples of Confidential Information include information not readily available to the public that the Company takes reasonable steps
to maintain the confidential and proprietary nature thereof, including without limitation personnel records, contractor records, sales figures, pricing information, financial records, profit and performance reports, projections, business plans,
software, databases, customer information (including the content, work product, or subject matter of any documents presented to the Company by a customer, as well as customer financial information and information of a personal nature about a
customer or its employees), customer lists, vendor information (including vendor contracts and costs), promotional methods, techniques and methods of operations, trade secrets, potentially patentable products and processes, information of third
parties (including customers) that the Company is obligated to keep confidential, and any information the Company designates or deems proprietary or confidential. 

Employee understands that Employee’s employment with the Company created a relationship of confidence and trust between Employee and the
Company with respect to any Confidential Information. In consideration of the Aggregate Payment and benefits provided in this Agreement and other good and valuable consideration, the sufficiency of which Employee hereby acknowledges, and subject to
the provisions of paragraph 10 below, Employee agrees that Employee shall exercise Employee’s best efforts to protect the Company’s Confidential Information. Employee further agrees that Employee will not disclose to any third
party, including any prospective or new employer, or use for Employee’s or anyone else’s benefit or profit any Confidential Information. In the event Employee discloses or uses Confidential Information outside the scope of Employee’s
employment with the Company, the Company will be entitled to injunctive relief from a court of competent jurisdiction, in addition to all other available remedies at law or in equity. The purpose of this
non-disclosure provision is to protect, to the maximum extent permitted by law, the Company’s protectable business interests in its Confidential Information. 

8. Restrictive Covenants: In addition to the covenants set forth in paragraph 7 above, which are incorporated into this paragraph 8 by
reference, and in exchange for good and valuable consideration hereunder, Employee agrees that the restrictions below on his or her activities after Employee’s employment with the Company are necessary to protect the goodwill, Confidential
Information and other legitimate interests of the Company. 
 a.
Non-Competition: Employee acknowledges that in the course of such Employee’s employment with the Company, Employee has become familiar with trade secrets and other Confidential Information
concerning the Company that derive independent economic value from not being generally known, and that Employee’s services have been of special, unique or extraordinary value to the Company. For two (2) years after the Separation Date (the
“Non-Competition Period”), Employee 

  
 4 

 
will not, without the prior written consent of the Company, which consent will not be unreasonably withheld, engage, directly or indirectly, in the Business (as defined below) in any city or
within a fifty (50) mile radius of any city in the United States or Brazil in which the Company operated during the term of Employee’s service to the Company, or, directly or indirectly, own an interest in, manage, operate, join, control,
lend money or render other financial assistance to, or participate in or be connected with, as an officer, director, employee, partner, stockholder, agent, or consultant or otherwise, any Person (as defined below) that competes with the Business;
provided that, for purposes of this paragraph, ownership of securities having no more than two percent (2%) of the outstanding voting power of any publicly traded business shall not be deemed to be in violation of this paragraph. Employee expressly
agrees and acknowledges that the restrictions contained in this paragraph are for the purposes of restricting the activities of Employee only to the extent necessary for the protection of the legitimate business interests of the Company, and do not
preclude Employee from earning a livelihood, nor do they unreasonably impose limitations on Employee’s ability to earn a living. In addition, Employee agrees and acknowledges that the potential harm to the Company of their non-enforcement outweighs any harm to Employee of its enforcement by injunction or otherwise. Employee expressly acknowledges and agrees that each and every restraint imposed by this paragraph is reasonable with
respect to the subject matter, time period and geographical area. The Non-Competition Period shall be extended by the length of any period during which Employee is in breach of the terms of this of this
paragraph. For purposes of this Agreement, “Business” means any business which involves the development, opening, operating or franchising of restaurants that operate as Brazilian or Argentinian style churrascarias or any
other steakhouses that operate in the churrascaria or rodizio stye, and derive more than twenty-five percent (25%) of their annual food sales from steak products in the United States or Brazil. For purposes of this Agreement,
“Person” means any individual, corporation, partnership, joint venture, association, joint stock company, trust, investment vehicle or fund, unincorporated organization or government or any agency or political subdivision
thereof (whether or not having separate legal personality). 
 b.
Non-Solicitation: Employee agrees that, during the Non-Competition Period, Employee shall not (i) induce or attempt to induce any customer, supplier or other
party with whom or which the Company did business during Employee’s service with the Company and with whom or which Employee had contact during his or her service with the Company to cease doing business with the Company, or in any way
interfere with or attempt to interfere with the relationship between the Company and any existing customer, supplier or other party with whom or which the Company did business during Employee’s service with the Company and with whom or which
Employee had contact during his or her service with the Company, the effects of which would tend to divert, diminish, or prejudice the goodwill or business of the Company, or (ii) with respect to anyone who is then employed by the Company or
who was an employee of the Company within the 12 months prior to the Separation Date (each, a “Company Employee”), (A) hire, employ or retain the services of (including, without limitation, as an employee or independent contractor) any
such Company Employee, (B) directly or indirectly interfere with or attempt to interfere with any Company Employee and/or representative or agent of the 

  
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Company, or (C) induce or attempt to induce any Company Employee to leave the employ of the Company, whether or not such person is employed or engaged pursuant to a contract with the
Company, or otherwise engaged at will, or violate the terms of their contracts, or any employment arrangements, with the Company; provided that, while the foregoing shall not prohibit a general solicitation to the public by general advertising,
hiring any person identified in this paragraph as a result of such general solicitation is prohibited during the Non-Competition Period. 

c. Enforcement: The terms and provisions of this paragraph 8 are intended to be separate and divisible
provisions, and if, for any reason, any one or more of them is held to be invalid or unenforceable, neither the validity nor the enforceability of any other provision of this Agreement will thereby be affected. If, at the time of enforcement of any
the provisions of paragraph 8 of this Agreement, a court or an arbitrator shall hold that the restrictions stated therein are unreasonable under the circumstances then existing, the parties agree that the maximum restrictions reasonable under
such circumstances shall be substituted for such restrictions and that the court or arbitrator shall be allowed to revise the restrictions contained herein to the fullest extent permitted by law. Because Employee’s services are unique and
because Employee has access to Confidential Information, the parties hereto agree that money damages would not be an adequate remedy for any breach of paragraph 8 of this Agreement. Therefore, in the event of a breach or threatened breach of
paragraph 8 of this Agreement, the Company or its successors or assigns may, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for specific performance, declaratory and/or
injunctive or other relief in order to enforce or prevent any violations of the provisions hereof (without posting a bond or other security). 
 9.
Confidentiality: Subject to the provisions of paragraph 10 below, Employee covenants and agrees that Employee will not disclose the existence or terms of this Agreement to any person except Employee’s spouse and: (a) licensed
attorney(s) for the purpose of obtaining legal advice; (b) licensed or certified accountant(s) for the purpose of preparing tax returns or other financial services; (c) in formal proceedings to enforce the terms of this Agreement; or
(d) as required by a court order, subpoena, or other legal process. If any Party sues to enforce the terms of this Agreement, that Party must file it under seal. If Employee is served with a court order, subpoena, or other legal process that
calls for disclosure of this Agreement or its terms, Employee shall immediately provide the Company with written notice thereof by first class mail and e-mail to Fogo de Chão (Holdings) Inc., 5908
Headquarters Drive, Suite K200, Plano TX 75024, Attention: General Counsel; email: bbernet@fogo.com, along with a copy of the order, subpoena, or other legal process. 

10. Protected Rights: No provisions in this Agreement, including, without limitation, the provisions addressing the scope of the release and/or
Employee’s confidentiality obligations, are intended to limit in any way Employee’s right or ability to file a charge or claim or to communicate or cooperate with the Equal Employment Opportunity Commission, the National Labor Relations
Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission, or any other federal, state, or local government agency or commission (“Government Agencies”), including providing documents or
other 

  
 6 

 information without notice to the Company, where such Government Agencies have the authority to carry out
their statutory duties by investigating, issuing a determination, filing a lawsuit in federal or state court in their own name, or taking other statutorily-authorized action. Employee is not required to contact the Company regarding the subject
matter of any such communications before engaging in such communications. Notwithstanding the above, unless otherwise prohibited by law, by signing this Agreement, Employee releases and waives Employee’s right to claim or recover, share or
participate in, monetary damages from the Company in any charge, complaint, or lawsuit filed by Employee, by such Government Agencies, or by anyone else on Employee’s behalf, for any released claims resulting from any of the above proceedings.
This Agreement does not, however, limit Employee’s right to receive an award directly from such agencies when provided for by law. 

Employee also understands that pursuant to the Defend Trade Secrets Act of 2016, Employee shall not be held criminally or civilly liable under
any federal, state, or local trade secret law for the disclosure of a trade secret that is made in confidence either directly or indirectly to a federal, state, or local government official, or an attorney, for the sole purpose of reporting, or
investigating, a violation of law. Employee understands that Employee may disclose trade secrets in a complaint, or other document, filed in a lawsuit, or other proceeding, if such filing is made under seal. Employee understands that an employee who
files a lawsuit alleging retaliation by the Company for reporting a suspected violation of the law may disclose the trade secret to the attorney of the employee and use the trade secret in the court proceeding, if the employee files any document
containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order. 
 11.
Non-Disparagement: Subject to the provisions of paragraph 10 above, Employee covenants and agrees not to make any intentional statement, oral or written, or to perform any intentional act or
omission for the purpose of causing, or reasonably expected to cause, any material harm to the Company’s business, business relationships, operations, goodwill, or reputation. This provision is in addition to, and not in lieu of, the
substantive protections under applicable law relating to defamation, libel, slander, interference with contractual or business relationships, or other statutory, contractual, or tort theories. 

12. Return of Property: Employee agrees that by the Separation Date. Employee shall return to the Company all Company property, including, without
limitation, computers, software, designs, drawings, credit cards, keys, trucks or automobiles, cellular phones, pagers, equipment, tools, security access cards, books, records, forms, specifications, formulae, data, processes, papers and writings
(including but not limited to electronic documents) related to the business of the Company, together with copies of the foregoing, where applicable, and any other property in Employee’s care, custody or control belonging to the Company, or any
of its affiliates. 
 13. Consideration of Medicare’s Interests: Employee affirms, covenants, and warrants Employee is not a Medicare beneficiary
and is not currently receiving, has not received in the past, will not have received at the time the Aggregate Payment is due under this Agreement, is not entitled to, is not eligible for, and has not applied for or sought Social Security Disability
or Medicare benefits. In the event any statement in the preceding sentence is incorrect (for example, but not limited to, if Employee is a Medicare beneficiary, etc.), the following sentences of this paragraph apply. Employee affirms, covenants and

  
 7 

 
warrants Employee has made no claim for illness or injury against, nor is Employee aware of any facts supporting any claim against, the Released Parties under which the Released Parties could be
liable for medical expenses incurred by Employee before or after the execution of this Agreement. Furthermore, Employee is aware of no medical expenses that Medicare has paid and for which the Released Parties are or could be liable now or in the
future. Employee agrees and affirms that, to the best of Employee’s knowledge, no liens of any governmental entities, including those for Medicare conditional payments, exist. Employee will indemnify, defend, and hold the Released Parties
harmless from Medicare claims, liens, damages, conditional payments, and rights to payment, if any, including attorneys’ fees, and Employee further agrees to waive any and all future private causes of action for damages pursuant to 42 U.S.C.
§ 1395y(b)(3)(A) et seq. 
 14. Indemnification: Employee agrees to hold the Released Parties harmless from, and to defend and indemnify the
Released Parties from and against, all further claims, cross-claims, third-party claims, demands, costs, complaints, obligations, causes of action, damages, judgments, liability, contribution, or indemnity related in any way to the allegations that
were or could have been made by Employee with respect to the claims and causes of action released as part of this Agreement, as well as any claims that may be made indirectly against the Released Parties for contribution, indemnity, or otherwise by
any third party from whom or which Employee seeks relief or damages, directly or indirectly, for the same claims and/or causes of action released as part of this Agreement, regardless of whether such claims are caused in whole or in part by the
negligence, acts, or omissions of any of the Released Parties. 
 Employee shall be responsible for all federal, state, and local tax
liability, if any, that may attach to amounts payable or other consideration given under this Agreement, and will defend, indemnify, and hold the Released Parties harmless from and against, and will reimburse the Released Parties for, any and all
liability of whatever kind incurred by the Released Parties as a result of any tax obligations of Employee, including but not limited to taxes, levies, assessments, penalties, fines, interest, attorneys’ fees, and costs. Employee warrants that
Employee is not relying on the judgment or advice of any of the Released Parties or legal counsel concerning the tax consequences, if any, of this Agreement. 

15. Entire Agreement: This Agreement constitutes the final and entire agreement between the Parties with respect to the subject matter herein and
therein, other than any prior non-disclosure, non-competition, or non-solicitation agreement, which is re-affirmed by Employee as consideration for this Agreement, and no other representation, promise, or agreement has been made to cause Employee to sign this Agreement. Any other agreements regarding the terms of
Employee’s termination of employment from the Company or the subject matter in this Agreement shall be merged into and superseded by this Agreement except as expressly set forth in this Agreement. Furthermore, the Parties cannot orally agree to
alter, amend, modify, or in any way change the terms of this Agreement, and can make such alterations, amendments, modifications, or changes only in a written document that specifically references this Agreement and is signed by an authorized
representative of each Party. 

  
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 16. Governing Law and Forum: This Agreement shall be deemed to be made in, and in all respects shall
be interpreted, construed, and governed by and in accordance with the laws of the State of Texas, notwithstanding any choice of law provisions otherwise requiring application of other laws. In the event of litigation concerning this Agreement, the
parties agree to the jurisdiction of federal and state courts in Collin County, Texas. 
 17. Assignment: This Agreement and Employee’s rights
and obligations under it may not be assigned or delegated at any time by Employee, without the prior written consent of the Company, which consent may be denied in the Company’s sole and absolute discretion. 

18. Non-Waiver: Any failure of the Company to enforce its rights and privileges under this Agreement shall not
be deemed to constitute waiver of any rights and privileges contained herein. 
 19. Mutual Drafting: Each Party acknowledges that such Party has
reviewed and revised this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement. The language of this
Agreement shall, in all cases, be construed as a whole, according to its fair meaning, and not strictly for, or against, either of the parties. 
 20.
Severability: The terms, conditions, covenants, restrictions, and other provisions contained in this Agreement are separate, severable, and divisible. If any term, provision, covenant, restriction, or condition of this Agreement or part
thereof, or the application thereof to any person, place, or circumstance, shall be held to be invalid, unenforceable, or void, the remainder of this Agreement and such term, provision, covenant, or condition shall remain in full force and effect to
the greatest extent practicable and permissible by law, and any such invalid, unenforceable, or void term, provision, covenant, or condition shall be deemed, without further action on the part of the Parties hereto, modified, amended, limited, or
deleted to the extent necessary to render the same and the remainder of this Agreement valid, enforceable, and lawful. 
 21. Counterparts: This
Agreement can be executed in any number of counterparts, each of which shall be effective only upon delivery and thereafter shall be deemed an original, and all of which shall be taken to be one and the same instrument for the same effect as if an
Parties hereto had signed the same signature page. A facsimile or e-mail copy of any Party’s signature is as legally binding as the original signature. 

22. Acknowledgments: Employee acknowledges that the Company is not undertaking to advise Employee with respect to any tax or other consequences of this
Agreement and that Employee is solely responsible for determining those consequences. Employee has read this Agreement and understands its terms. Employee has been provided with a full and fair opportunity to consult with an attorney of
Employee’s choosing and to obtain any and all advice deemed appropriate with respect to this Agreement. Employee acknowledges that nothing in this Agreement shall limit Employee’s ability to confer with legal counsel, to testify truthfully
under subpoena or court order, or to initiate, provide truthful information for, or cooperate with an investigation by a municipal, state, or federal agency for enforcement of laws. This Agreement has been entered into with the understanding that
there are no unresolved claims of any nature that Employee has against the Company. Employee acknowledges (a) Employee has not been induced to enter this Agreement by a statement, 

  
 9 

 
action, or representation of any kind or character made by the persons or entities released under this Agreement, or any person or persons representing them, other than those expressly made in
this Agreement, (b) Employee is legally competent to execute this Agreement and (c) Employee has executed this Agreement freely, voluntarily, and without duress. Employee further acknowledges and agrees that except for the Aggregate
Payment, all compensation, benefits, and other obligations due Employee by the Company, whether by contract or by law, have been paid or satisfied in full. Employee further agrees that the representations and understandings set forth in this
paragraph have been relied on by the Company and constitute consideration for the Company’s execution of this Agreement. In light of the foregoing, Employee is satisfied with the terms of this Agreement and agrees that its terms are binding on
Employee. 
 PLEASE READ CAREFULLY AS THIS DOCUMENT INCLUDES RELEASES OF CLAIMS 

[SIGNATURES ON FOLLOWING PAGE) 

  
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 As evidenced by Employee’s signature below, Employee certifies Employee has read the
Agreement in its entirety and agrees to its terms. 
  

							
		 		 	Fogo de Chão (Holdings) Inc.
				
	 /s/ Antonio Bautista
	 		 	By:	 	 /s/ G. Barry McGowan

	Antonio Bautista	 		 	Name:	 	G. Barry McGowan
	Date: 07 - 13 -, 2020	 		 	Title:	 	Chief Executive Officer
				
		 		 	Date:	 	July 15, 2020
			
		 		 	Fogo de Chão Churrascaria (Dallas), LLC
				
		 		 	By:	 	 /s/ G. Barry McGowan

		 		 	Name:	 	G. Barry McGowan
		 		 	Title:	 	Manager
		 		 	Date:	 	July 15, 2020

  
 11

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