Document:

EX-10.5

 Exhibit 10.5 

INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE CANO HEALTH, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

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

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

 

			
	 Incremental Number of
Option Shares
Exercisable1
	  	 Exercisability Date

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

  

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

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

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

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

  
 2 

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

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

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

  
 3 

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

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

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

  
 4 

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

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

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

 

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:

  
 5 

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

 

			
	Dated: ____________________	  	  

		  	Optionee’s Signature
		
		  	Optionee’s name and address:
		  	  

		  	  

		  	  

  
 6 

 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR COMPANY EMPLOYEES 

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

 

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

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

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

 

			
	 Incremental Number of
Option Shares
Exercisable
	  	 Vesting/Exercisability Date

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

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

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

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

  
 2 

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

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

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

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

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

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

  
 3 

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

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

  
 4 

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

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

  
 5 

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

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:

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

			
	Dated: ____________________	  	  

		  	Optionee’s Signature
		
		  	Optionee’s name and address:
		  	  

		  	  

		  	  

  
 6 

 RESTRICTED STOCK AWARD AGREEMENT 

UNDER THE CANO HEALTH, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

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

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

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

 2. Restrictions and Conditions. 

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

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

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

 

			
	 Incremental Number
of Shares
Vested
	  	 Vesting Date

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

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

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

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

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

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

  
 2 

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

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

  
 3 

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

 

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:

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

			
	Dated: ____________________	  	  

		  	Grantee’s Signature
		
		  	Grantee’s name and address:
		  	  

		  	  

		  	  

  
 4 

 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR NON-EMPLOYEE DIRECTORS 

UNDER THE CANO HEALTH, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 

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

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

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

			
	 Incremental Number of

Restricted Stock Units Vested
	  	 Vesting Date

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

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

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

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

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

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

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

  
 2 

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

 

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:

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

			
	Dated: ____________________	  	  

		  	Grantee’s Signature
		
		  	Grantee’s name and address:
		  	  

		  	  

		  	  

  
 3 

 RESTRICTED STOCK UNIT AWARD AGREEMENT 

FOR COMPANY EMPLOYEES 

UNDER THE CANO HEALTH, INC. 

2021 STOCK OPTION AND INCENTIVE PLAN 
  

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

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

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

			
	 Incremental Number of

Restricted Stock Units Vested
	  	 Vesting Date

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

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

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

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

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

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

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

  
 2 

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

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

 

			
	Cano Health, Inc.
		
	By:	 	  

		 	Title:

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

			
	Dated: ____________________	  	  

		  	Grantee’s Signature
		
		  	Grantee’s name and address:
		  	  

		  	  

		  	  

  
 3EX-10.7

 Exhibit 10.7 

EMPLOYMENT AGREEMENT 

This Employment Agreement (“Agreement”) is made among Cano Health, LLC (the “Company”), JAWS Acquisition Corp., a Cayman
Islands exempted company (the “Parent”) and Dr. Marlow Hernandez (the “Executive”). Effective upon the consummation of the transactions contemplated by that certain Business Combination Agreement, dated as of the date
hereof, by and between the Parent, and Primary Care (ITC) Holdings, LLC, a Delaware limited liability company and indirect owner of all outstanding membership interests of the Company (the “Business Combination Agreement”), this Agreement
supersedes in all respects all prior agreements between the Executive and the Company or any of its subsidiaries regarding the subject matter herein, including, without limitation, the Employment Agreement between the Executive and the Company,
dated as of December 23, 2016 (the “Prior Agreement”). 
 WHEREAS, effective upon the consummation of the transactions
contemplated by the Business Combination Agreement (the “Effective Date”), the Company desires to continue to employ the Executive and the Executive desires to continue to be employed by the Company on the new terms and conditions
contained herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 
 1. Employment.

 (a) Term. Unless the Executive’s employment terminates sooner in accordance with the provisions of Section 4, the Company
shall employ the Executive and the Executive shall be employed by the Company pursuant to this Agreement commencing as of the Effective Date and continuing until the third (3rd) anniversary of the
Effective Date (the “Initial Term”); provided that the employment period (the “Term”) shall be renewed automatically for successive periods of one (1) year (each a “Renewal Term”) unless the Company delivers to the
Executive, or the Executive delivers to the Company, written notice of the Company’s or the Executive’s, as applicable, election not to renew the Term for the following Renewal Term (a
“Non-Renewal Notice”), within ninety (90) days prior to the expiration of the Initial Term or the then current Renewal Term, as applicable. 

(b) Position and Duties. The Executive shall serve as the Chief Executive Officer of the Company and of Parent and shall have such
powers and duties that are customary for a U.S. public company Chief Executive Officer and such other additional duties as may from time to time be prescribed by the Board of Directors of the Parent (the “Board”). In addition, the Parent
shall cause the Executive to be nominated for election to the Board and to be recommended to the stockholders for election to the Board as long as the Executive remains the Chief Executive Officer of the Parent (the “CEO”), provided that
the Executive shall be deemed to have resigned from the Board and from any related positions upon ceasing to serve as CEO for any reason. At the Executive’s election, the Executive may also provide professional medical services to patients of
the Company which shall include, but not be limited to, consultations, examinations, call coverage, treatments and reports (the “Medical Services”). The Executive shall devote the Executive’s full working time and efforts to the
business and affairs of the 

  
 1 

 
Company and Parent. Notwithstanding the foregoing, the Executive may serve on other boards of directors, with the approval of the Board, or engage in religious, charitable or other community
activities, as long as such services and activities do not interfere with the Executive’s performance of the Executive’s duties to the Company or Parent. 

(c) Medical Judgment. With respect to the Executive’s provision of Medical Services (if any) only, neither the Company nor the
Parent shall (i) inhibit the freedom necessary for the Executive to practice medicine in a manner which assures that the interests of the Company’s patients are given primary consideration; (ii) exercise any control or discretion over
the means, manner or method by which the Executive provides professional services hereunder that would be detrimental to any patient; or (iii) make any treatment decisions for any patient receiving medical care by the Executive, except to the
extent required by applicable state or federal law. The Executive, in his sole discretion, shall accept patients, provided that the Executive shall not discriminate against anyone on the basis of sex, race, national origin, color, religion,
disability, handicap, age, sexual orientation, ability to pay or insurance carrier/payer. Any referrals made by the Executive shall be based upon the medical judgment of the Executive while acting in the best interest of patients. 

2. Additional Duties in Connection with Medical Services (if Any). 

In the event that the Executive provides Medical Services pursuant to Section 1(b), the parties agree to the additional provisions set
forth on Exhibit A of this Agreement. 
 3. Compensation and Related Matters. 

(a) Base Salary. The Executive’s initial base salary shall be paid at the rate of $350,000 per year. Thereafter, the
Executive’s base salary shall be subject to periodic review by the Compensation Committee of the Board (the “Compensation Committee”) or the Board, provided that the Executive’s base salary may be increased but not
decreased. The base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be payable in a manner that is consistent with the Company’s usual payroll practices for executive officers. 

(b) Incentive Compensation. The Executive shall be eligible to receive cash incentive compensation as determined by the Board or the
Compensation Committee from time to time (“Incentive Compensation”). The Executive’s target annual Incentive Compensation shall not be less than 50 percent of the Executive’s Base Salary (referred to herein as “Target
Bonus”), subject to increase as determined by the Board or the Compensation Committee. The actual amount of the Executive’s annual Incentive Compensation, if any, shall be determined in the sole discretion of the Board or the Compensation
Committee, subject to the terms of any applicable Incentive Compensation plan that may be in effect from time to time, which terms shall generally be no less favorable in the aggregate to the terms of any Incentive Compensation plan applicable to
other executive officers of the Company. Except as may be provided by the Board or the Compensation Committee or as may otherwise be set forth in the applicable Incentive Compensation plan or this Agreement, the Executive must be employed by the
Company on the date such Incentive Compensation is paid in order to earn or receive any annual Incentive Compensation. 

 (c) Expenses. The Executive shall be entitled to receive prompt reimbursement for all
reasonable expenses incurred by the Executive during the Term in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company for its executive officers. 

(d) Other Benefits. The Executive shall be eligible to participate in or receive benefits under the Company’s employee benefit
plans in effect from time to time, subject to the terms of such plans. 
 (e) Paid Time Off. The Executive shall be entitled to take
paid time off in accordance with the Company’s applicable paid time off policy for executives, as may be in effect from time to time. 

(f) Parent Equity. The Parent will grant Executive the following equity awards (the “Equity Awards”): 

(i) Initial Grant of Stock Options: On the Closing Date, Parent shall grant a stock option to purchase 2,820,000 shares of class A
common stock of Parent (“Parent Stock”), which shall be subject to the terms and conditions of the Cano Health, Inc. 2021 Stock Option and Incentive Plan (the “2021 Plan”) and an equity award agreement substantially in the form
of the Non-Qualified Stock Option Agreement attached hereto as Exhibit C. 
 (ii) Annual
Equity Award: Subject to approval by the Board or Compensation Committee, the Executive shall also be eligible to receive an annual equity award with a target value of $2,411,000 (the “Target Annual Equity Award Value”) at
substantially the same time as annual equity awards are granted to other executive officers of the Company, which shall be subject to the terms and conditions of the 2021 Plan and shall be comprised of a stock option to purchase Parent Stock subject
to a form of award agreement substantially in the form of Non-Qualified Stock Option Agreement attached hereto as Exhibit D and/or restricted stock units in respect of Parent Stock subject to an award
agreement substantially in the form of Restricted Stock Unit Award Agreement attached hereto as Exhibit E (with such adjustments thereto as reasonably determined by the Board in its sole discretion, provided that with respect to the first
annual equity award following the Effective Date, any such adjustments to the aggregate value, nature of award and performance hurdles shall be immaterial), as allocated among options and RSUs as determined by the Board or Compensation Committee.

 4. Termination. The Executive’s employment hereunder may be terminated without any breach of this Agreement under the
following circumstances: 
 (a) Death. The Executive’s employment hereunder shall terminate upon death. 

(b) Disability. The Company may terminate the Executive’s employment if the Executive is disabled and unable to perform or expected
to be unable to perform the essential functions of the Executive’s then existing position or positions under this Agreement with or without reasonable accommodation for a period of 180 days (which need not be consecutive) in any 12-month period. If any question shall arise as to whether during any period the Executive is disabled so as to be unable to perform the essential functions of the Executive’s then existing

 
position or positions with or without reasonable accommodation, the Executive may, and at the request of the Company shall, submit to the Company a certification in reasonable detail by a
physician selected by the Company to whom the Executive or the Executive’s guardian has no reasonable objection as to whether the Executive is so disabled or how long such disability is expected to continue, and such certification shall for the
purposes of this Agreement be conclusive of the issue. The Executive shall cooperate with any reasonable request of the physician in connection with such certification. If such question shall arise and the Executive shall fail to submit such
certification, the Company’s determination of such issue shall be binding on the Executive. Nothing in this Section 4(b) shall be construed to waive the Executive’s rights, if any, under existing law including, without limitation, the
Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq. and the Americans with Disabilities Act, 42 U.S.C. §12101 et seq. 

(c) Termination by the Company for Cause. The Company may terminate the Executive’s employment hereunder for Cause. For purposes of
this Agreement, “Cause” shall mean any of the following: 
 (i) conduct by the Executive constituting a material act of
misconduct solely in connection with the performance of the Executive’s duties as CEO, including (A) a willful failure or refusal to perform material responsibilities that have been requested by the Board, or (B) misappropriation of
funds or property of the Company or Parent or any of their subsidiaries or affiliates other than the occasional, customary and de minimis use of Company or Parent property for personal purposes; 

(ii) Executive’s conviction of or plea of guilty or nolo contendere to (A) any felony or (B) a misdemeanor involving
moral turpitude, deceit, dishonesty or fraud; 
 (iii) a material breach by the Executive of any of the Continuing Obligations (defined
below) or any of the other provisions contained in Section 9 of this Agreement; 
 (iv) a material violation by the Executive of any of
the Company’s written employment policies regarding discrimination and harassment; or 
 (v) the Executive’s failure to materially
cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, after being instructed by the Board to cooperate, or the willful destruction or failure to preserve documents or other materials
known to be relevant to such investigation (after the Executive receives notices to preserve such documents or other materials) or the willful inducement of others to fail to cooperate or to produce documents or other materials with such
investigation. 
 Provided, however, that the Executive will be provided written notice of any alleged action or inaction giving rise to
“Cause” under clauses (i), (iii), (iv) or, (v) describing with reasonable particularity the basis for such “Cause” and will be provided thirty (30) days from the date of such notice to cure such alleged action or
inaction. If timely cured to the Company’s reasonable satisfaction, such occurrence will not constitute “Cause.” 

 (d) Termination by the Company without Cause. The Company may terminate the
Executive’s employment hereunder at any time without Cause. Any termination by the Company of the Executive’s employment under this Agreement (other than (x) a termination for Cause under Section 4(c) or (y) a termination
resulting from the death or disability of the Executive under Section 4(a) or (b)), including any such termination resulting from the Company’s election not to renew the Term for a Renewal Term under Section 4(f), shall be deemed a
termination without Cause. 
 (e) Termination by the Executive. The Executive may terminate employment hereunder at any time for any
reason, including but not limited to, Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has completed all steps of the Good Reason Process (hereinafter defined) following the occurrence of any
of the following events without the Executive’s consent (each, a “Good Reason Condition”): 
 (i) a diminution in the
Executive’s responsibilities, authority or duties; 
 (ii) a material diminution in the Executive’s Base Salary, Executive’s
Target Bonus, and/or Target Annual Equity Award Value (collectively, the “Total Target Compensation”), except for across-the-board salary reductions based on
the Company’s financial performance similarly affecting all or substantially all senior management employees of the Company; 
 (iii) a
material change in the geographic location at which the Executive provides services to the Company, such that there is an increase of at least thirty (30) miles of driving distance to such location from the Executive’s principal residence
as of such change (provided that the requirement that the Executive provide services at the location of the current headquarters of the Company shall not trigger “Good Reason”); or 

(iv) a material breach of this Agreement by the Company, including the Executive’s removal from the Board, despite the Executive’s
willingness and ability to serve on the Board.     
 The “Good Reason Process” consists of the following steps: 

(i) the Executive reasonably determines in good faith that a Good Reason Condition has occurred; 

(ii) the Executive notifies the Company in writing of the first occurrence of the Good Reason Condition within 75 days of the first occurrence
of such condition; 
 (iii) the Executive cooperates in good faith with the Company’s efforts, for a period of not less than 30 days
following such notice (the “Cure Period”), to remedy the Good Reason Condition; 
 (iv) notwithstanding such efforts, the
Good Reason Condition continues to exist at the end of the Cure Period; and 

 (v) the Executive terminates employment within 120 days after the end of the Cure Period.

 If the Company cures the Good Reason Condition during the Cure Period, Good Reason shall be deemed not to have occurred. 

(f) Termination by Notice of Non-Renewal. Each of the Executive and the Company may terminate
the Executive’s employment by delivering a Non-Renewal Notice within 90 days prior to the expiration of the Initial Term or the then current Renewal Term, as applicable. 

5. Matters related to Termination. 

(a) Notice of Termination. Except for termination as specified in Section 4(a), any termination of the Executive’s employment
by the Company or any such termination by the Executive shall be communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate
the specific termination provision in this Agreement relied upon. 
 (b) Date of Termination. “Date of Termination” shall
mean: (i) if the Executive’s employment is terminated by death, the date of death; (ii) if the Executive’s employment is terminated on account of disability under Section 4(b) or by the Company for Cause under
Section 4(c), the date on which Notice of Termination is given; (iii) if the Executive’s employment is terminated by the Company without Cause under Section 4(d), the date on which a Notice of Termination is given or the date
otherwise specified by the Company in the Notice of Termination; (iv) if the Executive’s employment is terminated by the Executive under Section 4(e) other than for Good Reason, 30 days after the date on which a Notice of Termination
is given; (v) if the Executive’s employment is terminated by the Executive under Section 4(e) for Good Reason, the date on which a Notice of Termination is given after the end of the Cure Period; and (vi) if the Executive’s
employment is terminated on account of either party providing a Notice of Non-Renewal, the last day of the Initial Term or current Renewal Term (as applicable). Notwithstanding the foregoing, in the event that
the Executive gives a Notice of Termination to the Company or Notice of Non-Renewal, the Company may unilaterally accelerate the Date of Termination and such acceleration shall not result in a termination by
the Company for purposes of this Agreement. 
 (c) Accrued Obligations. If the Executive’s employment with the Company is
terminated for any reason, the Company shall pay or provide to the Executive (or to the Executive’s authorized representative or estate) (i) any Base Salary earned through the Date of Termination and, if applicable, any accrued but
unused vacation through the Date of Termination; (ii) unpaid expense reimbursements (subject to, and in accordance with, Section 3(c) of this Agreement); and (iii) any vested benefits the Executive may have under any employee benefit
plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the “Accrued Obligations”). 

 (d) Resignation of All Other Positions. To the extent applicable, the Executive shall
be deemed to have resigned from all officer and board member positions that the Executive holds with the Company or any of its respective subsidiaries and affiliates upon the termination of the Executive’s employment for any reason. The
Executive shall execute any documents in reasonable form as may be requested to confirm or effectuate any such resignations. 
 6.
Severance Pay and Benefits Upon Termination by the Company without Cause or by the Executive for Good Reason. If the Executive’s employment is terminated by the Company without Cause as provided in Section 4(d) (including the
Company’s delivery of a Non-Renewal Notice as provided in Section 4(f)), or the Executive terminates employment for Good Reason as provided in Section 4(e), then, in addition to the
Accrued Obligations, and subject to the Executive delivering an executed “Separation Agreement and Release of Claims” in the form attached as Exhibit F (the “Separation Agreement”) and the Separation Agreement becoming
irrevocable, all within 60 days after the Date of Termination (or such shorter period as set forth in the Separation Agreement): 
 (a)
Severance Payments Outside a Change in Control Period. If the date of the Notice of Termination provided under Section 5 is not within twelve (12) months following a Sale Event (as defined in the 2021 Plan) (a “Change in
Control Period”), the Company shall pay the Executive an amount equal to (i) twelve (12) months of the Executive’s Base Salary (ignoring any reduction that constitutes Good Reason); (ii) any earned but unpaid Incentive
Compensation with respect to the completed year prior to the year of the Date of Termination; and (iii) a pro rata portion of the Executive’s Target Bonus for the year in which the Executive’s employment is terminated (ignoring any
reduction that constitutes Good Reason). 
 (b) Severance Payments During a Change in Control Period. If the date of the Notice of
Termination provided under Section 5 is during a Change in Control Period (even if the Date of Termination does not occur during a Change in Control Period), the Executive shall be entitled to receive (i) an amount in cash equal to 2 times
the sum of (x) the Executive’s Base Salary (ignoring any reduction that constitutes Good Reason) and (y) the average annual Incentive Compensation paid to the Executive in each of the two completed years prior to the year of the
Executive’s Date of Termination (provided that, if Incentive Compensation has not been paid to the Executive for each of the prior two years, such amount shall be the Executive’s Target Bonus for the current year) (ignoring any reduction
that constitutes Good Reason); (ii) a pro rata portion of the Executive’s Target Bonus for the year in which the Executive’s employment is terminated (ignoring any reduction that constitutes Good Reason); (iii) any earned but unpaid
Incentive Compensation with respect to the completed year prior to the year of the Date of Termination; and (iv) full acceleration of vesting of all outstanding equity awards granted by the Parent, including the Equity Awards (with any
performance-based vesting criteria deemed satisfied based on actual performance measured in the Company’s reasonable discretion as of such termination). 

(c) subject to the Executive’s copayment of premium amounts at the applicable active employees’ rate and the Executive’s proper
election to receive benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall pay to the group health plan provider or the COBRA provider a monthly payment

 
equal to the monthly employer contribution that the Company would have made to provide health insurance to the Executive if the Executive had remained employed by the Company until the earliest
of (A) the twelve (12) month anniversary of the Date of Termination; (B) the date that the Executive becomes eligible for group medical plan benefits under any other employer’s group medical plan; or (C) the cessation of the
Executive’s health continuation rights under COBRA; provided, however, that if the Company determines that it cannot pay such amounts to the group health plan provider or the COBRA provider (if applicable) without potentially violating
applicable law (including, without limitation, Section 2716 of the Public Health Service Act), then the Company shall convert such payments to payroll payments directly to the Executive for the time period specified above. Such payments to the
Executive shall be subject to tax-related deductions and withholdings and paid on the Company’s regular payroll dates. 

The amounts payable under Section 6, to the extent taxable, shall be paid out in substantially equal installments in accordance with the Company’s
payroll practice over twelve (12) months commencing within 60 days after the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second
calendar year, such payments, to the extent they qualify as “non-qualified deferred compensation” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”), shall begin to be paid in the second calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include a
catch-up payment to cover amounts retroactive to the day immediately following the Date of Termination. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of
Treasury Regulation Section 1.409A-2(b)(2). 
 7. Additional Limitation. 

(a) Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or distribution by
the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code, and the
applicable regulations thereunder (the “Aggregate Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not below zero) so that the sum of all of the
Aggregate Payments shall be $1.00 less than the amount at which the Executive becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction shall only occur if it would result in the Executive receiving a
higher After Tax Amount (as defined below) than the Executive would receive if the Aggregate Payments were not subject to such reduction. In such event, the Aggregate Payments shall be reduced in the following order, in each case, in reverse
chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction that is subject to Section 280G of the Code: (1) cash payments not subject to Section 409A of the
Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits; provided that in the case of all the foregoing
Aggregate Payments all amounts or payments that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any
amounts that are subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c). 

 (b) For purposes of this Section 7, the “After Tax Amount” means the amount
of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After Tax Amount, the
Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes at the highest
marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. 

(c) The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to Section 7(a) shall be made by an
independent (not otherwise employed by the Company), nationally recognized accounting firm selected and paid for by the Company (the “Accounting Firm”), which shall provide detailed supporting calculations both to the Company and the
Executive within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Company or the Executive. Any determination by the Accounting Firm shall be binding upon the Company and the
Executive. 
 8. Section 409A. 

(a) Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s separation from service within the
meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive
becomes entitled to under this Agreement or otherwise on account of the Executive’s separation from service would be considered deferred compensation otherwise subject to the 20 percent additional tax imposed pursuant to
Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one
day after the Executive’s separation from service, or (B) the Executive’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a
catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application of this provision, and the balance of the
installments shall be payable in accordance with their original schedule. 
 (b) All in-kind benefits
provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively
practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or
reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year (except for any lifetime or other
aggregate limitation applicable to medical expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

 (c) To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment, then such payments
or benefits shall be payable only upon the Executive’s “separation from service.” The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury
Regulation Section 1.409A-1(h). 
 (d) The parties intend that this Agreement will be
administered in accordance with Section 409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments
hereunder comply with Section 409A of the Code. Each payment pursuant to this Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). The
parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and
benefits provided hereunder without additional cost to either party. 
 (e) The Company makes no representation or warranty and shall have no
liability to the Executive or any other person if any provisions of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section.

 9. Continuing Obligations. For purposes of this Agreement, the obligations in this Section 9 shall collectively be referred
to as the “Continuing Obligations.” 
 (a) Non-Competition. The Executive agrees
that during the Term and for two (2) years following the Executive’s termination of employment for any reason (the “Restricted Period”), the Executive shall not, directly or indirectly, own, manage, operate, join, control or
participate in the ownership, management, operation or control of, or be an officer or an employee of any business or organization that provides, directly or indirectly (including as a provider or as a management services organization), in a primary
care clinic setting (which includes without limitation the practice of primary care medicine in a multidisciplinary clinic) professional medical services, diagnostic, therapeutic and ancillary services, nursing and other clinical services,
outpatient healthcare services, pharmacy services or any other services incident to the operation of an internal medicine practice in a primary care clinic setting (each, a “Restricted Business”). The foregoing restriction shall apply
anywhere in the areas where the Company, its subsidiaries, or any subsidiaries of Parent conduct or have conducted a Restricted Business (or have expended material resources or time to plan the conduct of a Restricted Business, which plans remain
active and have not been abandoned) during the Term, including, but not limited to, the United States (including Puerto Rico) (the “Restricted Territory”). The foregoing shall not restrict the Executive from owning up to 3% of any class of
securities of any person engaged in a Restricted Business if such securities are listed on any national or regional securities exchange or have been registered under Section 12(g) of the Securities Exchange Act of 1934, as amended, as long as
such securities are held solely as a passive investment and not with a view to influencing, controlling or directing the affairs of such person. 

 (b) Non-Solicitation. The Executive agrees
that, during the Restricted Period, the Executive will not, directly or indirectly, for himself or on behalf of or in conjunction with any other person, (i) solicit, induce, attempt to solicit or induce, or hire or attempt to hire any person
that is, or was within twelve (12) months prior to the Executive’s termination date, an employee of the Company; provided, however, this Section 9(b) shall not be breached by a solicitation to the general public or
through general advertising, or (ii) solicit, advise or encourage any person, firm, government agency or corporation (a “Customer”), including without limitation any potential customer of the Company that to the Executive’s
knowledge was engaged in discussion with the Company during the Executive’s employment to do business with the Company (or with whom the Executive actively worked during employment), to withdraw, curtail or cancel its business (or potential
business) with the Company. 
 (c) Non-Disparagement. During the Term and thereafter, the
Executive agrees that he will not, at any time, make, directly or indirectly, any oral or written statements that are disparaging of the Company, its business, its products or services, or any of its present or former officers, directors, members,
stockholders, managers or employees. During the Term and thereafter, the Company agrees that it will not, at any time, make directly or indirectly, any oral or written statements that are disparaging to the Executive. The Executive understands that
the Company’s obligations under this Section 9(c) extend only to the Company’s and Parent’s current executive officers and members of the Board and the Company’s Board of Directors and only for so long as each officer or
member is an employee or director of the Company or the Parent, as applicable. 
 (d) Litigation and Regulatory Cooperation. During
and after the Executive’s employment, the Executive shall cooperate fully with the Company in (i) 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 the
Company which relate to events or occurrences that transpired while the Executive was employed by the Company, and (ii) the investigation, whether internal or external, of any matters about which the Company believes the Executive may have
knowledge or information. The Executive’s full cooperation in connection with such claims, actions or investigations shall include, but not be limited to, being available to meet with counsel to answer questions or to prepare for discovery or
trial and to act as a witness on behalf of the Company at mutually convenient times. During and after the Executive’s employment, the Executive also shall cooperate fully with the Company in connection with any investigation or review of any
federal, state or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company. The Company shall reimburse the Executive for any reasonable out-of-pocket expenses incurred in connection with the Executive’s performance of obligations pursuant to this Section 9(d). 

(e) Relief. The Executive agrees that it would be difficult to measure any damages caused to the Company which might result from any
breach by the Executive of the Continuing Obligations, and that in any event money damages would be an inadequate remedy for any such breach. Accordingly, the Executive agrees that if the Executive breaches, or proposes to breach, any portion
of the Continuing Obligations, the Company shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable relief to restrain any such breach without showing or proving any actual damage to the
Company. 

 (f) Reasonable Limitation and Severability. The parties agree that the above
restrictions on competition are (i) appropriate and reasonable given the Executive’s role with and knowledge of the Company and Parent, and are necessary to protect the interests of the Company and Parent and (ii) completely severable
and independent agreements supported by good and valuable consideration and, as such, shall survive the termination of this Agreement for any reason whatsoever. The Executive acknowledges that the Executive has carefully considered the terms of this
Agreement, including the restrictive covenants set forth in this Section 9, and acknowledges that if this Agreement is enforced according to its terms, the Executive will be able to earn a reasonable living in commercial activities unrelated to
the business of the Company in locations satisfactory to the Executive. The Executive also acknowledges that the restrictive covenants set forth in this Section 9 are a vital part of and are intrinsic to the ongoing operations of the Company,
in light of the nature of the business of the Company and the unique position, skills and knowledge of the Executive with the Company. The parties further agree that any invalidity or unenforceability of any one or more of such restrictions on
competition shall not render invalid or unenforceable any remaining restrictions on competition. Additionally, should a court of competent jurisdiction determine that the scope of any provision of this Section 9 is too broad to be enforced as
written, the parties hereby authorize the court to reform the provision to such narrower scope as it determines to be reasonable and enforceable and the parties intend that the affected provision be enforced as so amended. The Executive acknowledges
and agrees that to the extent the Executive has breached or is in breach of any of the covenants set forth in Sections 9(a) or (b), the Restricted Period shall be extended by an amount of time equal to the duration of such breach. 

10. Stock Ownership Guidelines. For the avoidance of doubt, any applicable stock ownership guidelines and/or policy of the Company
shall not apply to the Executive following the Executive’s termination of employment for any reason. 
 11. Proprietary Information
and Inventions Agreement. As a condition of the Executive’s continued employment with the Company, the Executive will sign the Proprietary Information and Inventions Agreement (the “PIIA”), attached hereto as
Exhibit B. Nothing in or about this Agreement (including the PIIA), however, prohibits the Executive from: (a) filing and, as provided for under Section 21F of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), maintaining the confidentiality of a claim with the Securities and Exchange Commission (the “SEC”), (b) providing any information about this Agreement to the SEC, or providing the SEC with information that would
otherwise violate any section of this Agreement, to the extent permitted by Section 21F of the Exchange Act, (c) cooperating, participating or assisting in an SEC investigation or proceeding without notifying the Company or
(d) receiving a monetary award as set forth in Section 21F of the Exchange Act. 
 12. Arbitration of Disputes. 

(a) Arbitration Generally. Any controversy or claim arising out of or relating to this Agreement or the breach thereof or otherwise
arising out of the Executive’s employment or the termination of that employment (including, without limitation, any claims of unlawful employment discrimination or retaliation, whether based on race, religion, national origin, sex, gender, age,
disability, sexual orientation, or any other protected class under applicable law) shall, to the fullest extent permitted by law, be settled by arbitration in any forum and form 

 
agreed upon by the parties or, in the absence of such an agreement, under the auspices of JAMS in Miami, Florida in accordance with the JAMS Employment Arbitration Rules, including, but not
limited to, the rules and procedures applicable to the selection of arbitrators. The Executive understands that the Executive may only bring such claims in the Executive’s individual capacity, and not as a plaintiff or class member in any
purported class proceeding or any purported representative proceeding.    The Executive further understands that, by signing this Agreement, the Company and the Executive are giving up any right they may have to a jury trial on
all claims they may have against each other. Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. This Section 12 shall be specifically enforceable. Notwithstanding the foregoing, this
Section 12 shall not preclude either party from pursuing a court action for the sole purpose of obtaining a temporary restraining order or a preliminary injunction in circumstances in which such relief is appropriate, including without
limitation relief sought in connection with the Continuing Obligations; provided that any other relief shall be pursued through an arbitration proceeding pursuant to this Section 12. 

(b) Arbitration Fees and Costs. Each party shall pay its own costs and attorneys’ fees, if any, in connection with any arbitration.
If, however, any party prevails on a statutory or contractual claim that affords the prevailing party attorneys’ fees (including pursuant to this Agreement), the arbitrator may award attorneys’ fees to the prevailing party to the extent
permitted by law. 
 13. Consent to Jurisdiction. To the extent that any court action is permitted consistent with or to enforce
Section 12 of this Agreement, the parties hereby consent to the jurisdiction of the state and federal courts of the State of Florida. Accordingly, with respect to any such court action, the Executive (a) submits to the
exclusive personal jurisdiction of such courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction or service of process.

 14. Waiver of Jury Trial. Each of the Executive and the Company irrevocably and unconditionally WAIVES ALL RIGHT TO TRIAL BY JURY
IN ANY PROCEEDING (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE EXECUTIVE’S EMPLOYMENT BY THE COMPANY OR ANY AFFILIATE OF THE COMPANY, INCLUDING WITHOUT LIMITATION THE EXECUTIVE’S OR THE
COMPANY’S PERFORMANCE UNDER, OR THE ENFORCEMENT OF, THIS AGREEMENT. 
 15. Integration. This Agreement, the PIIA, and any plans
or programs referenced herein constitute the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements between the parties concerning such subject matter. 

16. Withholding; Tax Effect. All payments made by the Company to the Executive under this Agreement shall be net of any tax or other
amounts required to be withheld by the Company under applicable law. Nothing in this Agreement shall be construed to require the Company to make any payments to compensate the Executive for any adverse tax effect associated with any payments or
benefits or for any deduction or withholding from any payment or benefit. 

 17. Successors and Assigns. None of the Executive, the Company or the Parent may make
any assignment of this Agreement or any interest in it, by operation of law or otherwise, without the prior written consent of the other; provided, however, that the Company or Parent may assign its rights and obligations under this Agreement
(including the Continuing Obligations) without the Executive’s consent to any affiliate or to any person or entity with whom the Company or Parent shall hereafter effect a reorganization or consolidation, into which the Company or Parent merges
or to whom it transfers all or substantially all of its properties or assets; provided further that if the Executive remains employed or becomes employed by the Company, the purchaser or any of their affiliates in connection with any such
transaction, then the Executive shall not be entitled to any payments, benefits or vesting pursuant to Section 6 of this Agreement solely as a result of such transaction. This Agreement shall inure to the benefit of and be binding upon the
Executive, the Company and the Parent, and each of the Executive’s, the Company’s and the Parent’s respective successors, executors, administrators, heirs and permitted assigns. In the event of the Executive’s death after the
Executive’s termination of employment but prior to the completion by the Company of all payments due to the Executive under this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated in writing to
the Company prior to the Executive’s death (or to the Executive’s estate, if the Executive fails to make such designation). 
 18.
Enforceability. If any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent
jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and
provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. 
 19. Survival. The provisions of
this Agreement shall survive the termination of this Agreement and/or the termination of the Executive’s employment to the extent necessary to effectuate the terms contained herein. 

20. Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of
any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any
subsequent breach. 
 21. Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be
sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified mail, postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed
in writing with the Company or, in the case of the Company or the Parent, at their respective main offices, attention of the Board. 
 22.
Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized representative of the Company and the Parent. 

 23. Effect on Other Plans and Agreements. An election by the Executive to resign for
Good Reason under the provisions of this Agreement shall not be deemed a voluntary termination of employment by the Executive for the purpose of interpreting the provisions of any of the Company’s benefit plans, programs or policies. Nothing in
this Agreement shall be construed to limit the rights of the Executive under the Company’s or Parent’s benefit plans, programs or policies except as otherwise provided in Section 9 hereof, and except that the Executive shall have no
rights to any severance benefits under any Company or Parent severance pay plan, offer letter or otherwise. In the event that the Executive is party to an agreement with the Company or Parent providing for payments or benefits under such plan or
agreement and under this Agreement, the terms of this Agreement shall govern and the Executive may receive payment under this Agreement only and not both. 

24. Governing Law. This is a Florida contract and shall be construed under and be governed in all respects by the laws of the State
of Florida, without giving effect to the conflict of laws principles thereof. With respect to any disputes concerning federal law, such disputes shall be determined in accordance with the law as it would be interpreted and applied by the United
States Court of Appeals for the Eleventh Circuit. 
 25. Counterparts. This Agreement may be executed in any number of counterparts,
each of which when so executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document. 

IN WITNESS WHEREOF, the parties have executed this Agreement effective on the Effective Date. 

 

			
	JAWS Acquisition Corp.
		
	By:	 	  

	Its:	 	  

	
	Cano Health, LLC
		
	By:	 	  

	Its:	 	  

	
	Dr. Marlow Hernandez
	
	  

 Exhibit A 

Additional Duties in Connection with Medical Services (if Any) 

In the event the Executive elects to provide the Medical Services pursuant to Section 1(b) of this Agreement, the Executive agrees to the following,
solely to the extent applicable to the provision of Medical Services in the Practicing States (as defined below). 
 (a) Payor Arrangements.

 (i) The Executive shall become and remain, while providing the Medical Services, a participating physician in Medicare,
Medicaid and any other payor arrangements and any prepaid or managed care health care programs as are designated by the Company in the Practicing States for all Medical Services rendered by the Executive to patients who are covered under such
programs. 
 (ii) The Executive hereby consents to the Company’s release of information regarding the Executive as
requested by third party payers under managed care agreements entered into by the Company, which information must be provided pursuant to the terms and conditions of such managed care agreements. 

(iii) From time to time, the Company may enter into managed care or network agreements with third party payors, employers, or
governmental entities that, among other things, may require the Company and/or the Executive to engage in utilization review or peer review activities. The Executive will fully cooperate in such activities and will comply with any and all reasonable
requirements of any managed care or network agreement to which the Company becomes a party. If required by any managed care entity or network, the Executive will execute the agreement individually, notwithstanding that all fees generated by such
agreement will belong to the Company. 
 (b) Patients and Records of the Company. Without superseding any patient’s right to
choose a provider of health or medical services, the Executive acknowledges that all patients for whom the Medical Services are provided by the Executive shall be patients of the Company and not of the Executive. While providing the Medical
Services, the Executive shall, whenever possible, refer patients to the Company and its affiliates and use the Company and its affiliates when a referral is called for, and the Executive shall not induce, solicit, or encourage any patient who has
received or is receiving health or medical services from the Company or its affiliates to seek such services from another provider/supplier; provided, however, that such requirements shall be waived when: (a) the patient expresses a different
choice; (b) the patient’s insurer determines the provider/supplier; or (c) the referral is not in the best medical interest of the patient in the Executive’s judgment. All medical, patient, business, financial, or other records,
papers, and documents generated by the Executive, the Company, or employees or agents of the Company shall belong to the Company, and the Executive shall have no right to keep or retain such records, papers, or documents after this Agreement is
terminated; provided, however, that upon the request of the Executive after termination, the Company shall provide the Executive with copies of the patient records of patients treated by the Executive at the patient’s request or for such
reasonable purposes as defending against professional liability claims. 

 (c) Additional Duties. The Executive’s duties with respect to the Medical
Services shall also include the following: 
 (i) Complying with and abiding by any policies, procedures, rules, regulations,
guidelines and requirements of the Company, as may be amended, promulgated or eliminated by the Company in its discretion from time to time. 

(ii) Complying with any provision of state or federal law, and any regulation thereunder, now in effect or later adopted
relating to the Medical Services to be provided under this Agreement and that are applicable to the Executive. The Executive also agrees to be bound by, and to follow, the provisions of the Company’s privacy policies and practices, as well as
other state and federal privacy laws. 
 (iii) Preparing and maintaining, or causing to be prepared and maintained, necessary
or appropriate reports, claims, correspondence and records as may be required by state and/or federal law or regulations and/or by Medicare and Medicaid intermediaries and carriers relating to the Medical Services rendered by the Executive under
this Agreement. The Executive agrees that the Executive’s maintenance and retention of all records and reports will be such that the Company can comply with requests and requirements, as may be amended from time-to-time, of third party payers and other regulatory authorities including, but not limited to, Medicare, Blue Cross, the Comptroller General of the United States and the Department of Health and Human
Services. The Executive’s responsibilities with respect to this subsection, other than the obligation to maintain applicable reports, claims, correspondence and records, will survive termination of the Executive’s employment. All such
reports, claims, correspondence and records belong to the Company and shall be maintained and retained on the Company’s premises 
 (d)
Representations, Warranties, and Covenants. During the provision of the Medical Services, 
 (i) The Executive will
maintain a valid and unrestricted license to practice medicine in the states in which the Executive is licensed to practice medicine as of the Effective Date (such state(s), the “Practicing Sate(s)”) and is registered with such state
agencies as may be required to carry out the duties hereunder and to practice as a physician in the field of medicine in such state(s). 

(ii) The Executive has not been disciplined by any professional or peer review organization, governmental or medical staff for
any action or omission based on quality of care. 
 (iii) The Executive has and will maintain a valid and unrestricted
license or registration to prescribe drugs, medications, pharmaceuticals or controlled substances as required by the Practicing States. 

(iv) The Executive is not currently subject to any type of criminal or civil sanction, fine, civil money penalty, debarment, or
threatened with, any investigation, censure, probation, suspension, or other adverse action with respect to the Executive’s 

 
medical license in any Practicing State or with respect to the Executive’s medical staff privileges at any hospital, nursing home or other medical institution; that the Executive is not
excluded from participation and is not otherwise ineligible to participate in a “Federal health care program” as defined in 42 U.S.C. § 1320a-7b(f) or in any other state or federal government
payment program, including Medicare, Medicaid and TRICARE; and that the Executive, to his knowledge, is not currently under investigation with respect to his participation in such federal or state health care programs. 

(v) With the exception of this Agreement, neither the Executive nor any immediate family member (as defined by 42 C.F.R. §
411.1 et seq. (the “Federal Stark Regulations”)) of the Executive, has any direct or indirect financial relationship (whether an ownership or investment interest, or a compensation arrangement, all as defined by the Federal Stark
Regulations) with any entity (as defined by the Federal Stark Regulations) that provides for the furnishing of designated health services (as defined by the Federal Stark Regulations). The Executive shall notify the Company immediately, in writing,
of any plans for such a financial relationship to be created, or in the case of immediate family members, as soon as the Executive has knowledge of the existence of or plan to create such a financial relationship. 

 Exhibit B 

PROPRIETARY INFORMATION AND INVENTIONS AGREEMENT 

The following confirms and memorializes an agreement that Cano Health, LLC, a Florida limited liability company (“Company”),
and I (Dr. Marlow Hernandez) have had since the commencement of my employment (which term, for purposes of this agreement, shall be deemed to include any relationship of service to Company that I may have had prior to actually becoming an
employee) with Company in any capacity and that is and has been a material part of the consideration for my employment by Company: 
 1. I
have not entered into, and I agree I will not enter into, any agreement either written or oral in conflict with this Agreement or my employment with Company. I will not violate any agreement with or rights of any third party or, except as expressly
authorized by Company in writing hereafter, use or disclose my own or any third party’s confidential information or intellectual property when acting within the scope of my employment or otherwise on behalf of Company. Further, I have not
retained anything containing any confidential information of a prior employer or other third party, whether or not created by me. 
 2.
Company shall own, and I hereby assign to Company, all right, title and interest (including patent rights, copyrights, trade secret rights, mask work rights, sui generis database rights and all other intellectual property rights of any
sort throughout the world) relating to any and all inventions (whether or not patentable), works of authorship, mask works, designs, know-how, ideas and information
(collectively, “Inventions”) made or conceived or reduced to practice, in whole or in part, by me during the term of my employment with Company (collectively, “Company Inventions”), and I will promptly
disclose all Company Inventions to Company. The term “Company Inventions” will not include any Invention for which no equipment, supplies, facilities or trade secret information of the Company was used and which was developed entirely on
my own time, unless (a) the Invention relates (i) to the business of the Company, or (ii) to the Company’s actual or demonstrably anticipated research or development, or (b) the invention results from any work performed by
me for the Company. Without disclosing any third party confidential information, I will also disclose anything I believe is excluded by the foregoing so that Company can make an independent assessment. I shall further assist Company, at
Company’s expense, to further evidence, record and perfect the foregoing assignment and to perfect, obtain, maintain, enforce, and defend any rights specified to be so owned or assigned. I hereby irrevocably designate and appoint Company as my
agent and attorney-in-fact, coupled with an interest and with full power of substitution, to act for and in my behalf to execute and file any document and to do all
other lawfully permitted acts to further the purposes of the foregoing with the same legal force and effect as if executed by me. If I wish to clarify that something created by me prior to my employment that relates to Company’s actual or
proposed business is not within the scope of the foregoing assignment, I have listed it on Appendix A in a manner that does not violate any third party rights or disclose any confidential information. Without limiting Section 1 or
Company’s other rights and remedies, if, when acting within the scope of my employment or otherwise on behalf of Company, I use or (except pursuant to this Section 2) disclose my own or any third party’s confidential information or
intellectual property (or if any Company Invention cannot be fully made, used, reproduced, 

 
distributed and otherwise exploited without using or violating the foregoing), Company will have, and I hereby grant Company a perpetual, irrevocable, worldwide royalty-free, non-exclusive, sublicensable right and license to exploit and exercise all such confidential information and intellectual property rights. 

3. To the extent allowed by law, paragraph 2 includes all rights of paternity, integrity, disclosure and withdrawal and any other rights that
may be known as or referred to as “moral rights,” “artist’s rights,” “droit moral,” or the like (collectively “Moral Rights”). To the extent I retain any such Moral Rights under applicable law, I
hereby ratify and consent to any action that may be taken with respect to such Moral Rights by or authorized by Company and agree not to assert any Moral Rights with respect thereto. I will confirm any such ratifications, consents and agreements
from time to time as requested by Company. 
 4. I agree that all Company Inventions and all other business, technical and financial
information (including, without limitation, the identity of and information relating to customers or employees) I develop, learn or obtain during the term of my employment that relate to Company or the business or demonstrably anticipated business
of Company or that are received by or for Company in confidence, constitute “Proprietary Information.” I will hold in confidence and not disclose or, except within the scope of my employment, use any Proprietary Information. However, I
shall not be obligated under this paragraph with respect to information I can document is or becomes readily publicly available without restriction through no fault of mine. Upon termination of my employment, I will promptly return to Company all
items containing or embodying Proprietary Information (including all copies), except that I may keep my personal copies of (i) my compensation records, (ii) materials distributed to shareholders generally and (iii) this Agreement. I
also recognize and agree that I have no expectation of privacy with respect to Company’s telecommunications, networking or information processing systems (including, without limitation, stored computer files, email messages and voice messages)
and that my activity and any files or messages on or using any of those systems may be monitored at any time without notice. 
 5. I agree
that during the term of my employment with Company (whether or not during business hours), I will not engage in any activity that is in any way competitive with the business of Company, and I will not assist any other person or organization in
competing or in preparing to compete with any business or demonstrably anticipated business of Company. 
 6. I agree that this Agreement is
not an employment contract for any particular term and that I have the right to resign and Company has the right to terminate my employment at will, at any time, for any or no reason, with or without cause. In addition, this Agreement does not
purport to set forth all of the terms and conditions of my employment, and, as an employee of Company, I have obligations to Company which are not set forth in this Agreement. However, the terms of this Agreement govern over any inconsistent terms
and can only be changed by a subsequent written agreement signed by the Board of Directors of Company. 
 7. I agree that my obligations
under paragraphs 2, 3, and 4 of this Agreement shall continue in effect after termination of my employment, regardless of the reason or reasons for termination, and whether such termination is voluntary or involuntary on my part, and that Company is
entitled to communicate my obligations under this Agreement to any future employer or potential employer of mine. My obligations under paragraphs 2, 3 and 4 also shall be binding upon my heirs, executors, assigns, and administrators and shall inure
to the benefit of Company, its subsidiaries, successors and assigns. 

 8. Any dispute in the meaning, effect or validity of this Agreement shall be resolved in
accordance with the laws of the State of Florida, without regard to the conflict of law provisions thereof. I further agree that if one or more provisions of this Agreement are held to be illegal or unenforceable under applicable law, such illegal
or unenforceable portion(s) shall be limited or excluded from this Agreement to the minimum extent required so that this Agreement shall otherwise remain in full force and effect and enforceable in accordance with its terms. This Agreement is fully
assignable and transferable by Company, but any purported assignment or transfer by me is void. I also understand that any breach of this Agreement will cause irreparable harm to Company for which damages would not be an adequate remedy, and,
therefore, Company will be entitled to injunctive relief with respect thereto in addition to any other remedies and without any requirement to post bond. 

9. Pursuant to the federal Defend Trade Secrets Act of 2016, I acknowledge receipt of the following notice: “An individual shall not be
held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or
investigating a suspected violation of law. An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that is made in a complaint or other document filed in a
lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the
trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant to court order.” I further understand that nothing contained
in this Agreement limits my ability to (A) communicate with any federal, state or local governmental agency or commission, including to provide documents or other information, without notice to Company, or (B) share compensation
information concerning myself or others, except that this does not permit me to disclose compensation information concerning others that I obtain because my job responsibilities require or allow access to such information. 

10. Nothing in or about this Agreement prohibits me from: (i) filing and, as provided for under Section 21F of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), maintaining the confidentiality of a claim with the Securities and Exchange Commission (the “SEC”), (ii) providing Proprietary Information or information about
this Agreement to the SEC, or providing the SEC with information that would otherwise violate any section of this Agreement, to the extent permitted by Section 21F of the Exchange Act, (iii) cooperating, participating or assisting in an
SEC investigation or proceeding without notifying the Company or (iv) receiving a monetary award as set forth in Section 21F of the Exchange Act. 

[Remainder of Page Intentionally Left Blank] 

 I HAVE READ THIS AGREEMENT CAREFULLY AND I UNDERSTAND AND ACCEPT THE OBLIGATIONS WHICH
IT IMPOSES UPON ME WITHOUT RESERVATION. NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE TO ME TO INDUCE ME TO SIGN THIS AGREEMENT. I SIGN THIS AGREEMENT VOLUNTARILY AND FREELY, IN DUPLICATE, WITH THE UNDERSTANDING THAT COMPANY WILL RETAIN ONE
COUNTERPART AND THE OTHER COUNTERPART WILL BE RETAINED BY ME. 
  

					
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  	  	 Employee
  

		  		  	 Signature
  

		  		  	Name (Printed)

  

			
	Accepted and Agreed to:
	CANO HEALTH, LLC
		
	By	 	  

	Name	 	  

	Title

 APPENDIX A 

PRIOR MATTER 

 Exhibit C 

Form of Nonqualified Stock Option Award – Initial Award 

 Exhibit D 

Form of Nonqualified Stock Option Award – Annual Awards 

 Exhibit E 

Form of Restricted Stock Unit Award – Annual Awards 

 Exhibit F 

Form of Separation Agreement and Release of Claims

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