Document:

EX-10.3

 Exhibit 10.3 

AMENDED AND RESTATED EXECUTIVE RETIREMENT AGREEMENT 

THIS AMENDED AND RESTATED EXECUTIVE RETIREMENT AGREEMENT (this “Agreement”) is entered into on May 27, 2021, and effective as
of July 1, 2021 (the “Amendment Effective Date”) by and between The GEO Group, Inc. (“Company”) and George C. Zoley (“Executive”), or collectively, “the Parties,” and supersedes and replaces any
prior written retirement agreement between the Parties. 
 WHEREAS, the Executive and the Company previously entered into an Amended
Executive Retirement Agreement dated August 22, 2012, which was amended and restated on February 26, 2020 (the “Prior Retirement Agreement”); and 

WHEREAS, the Executive and the Company wish to amend the Prior Retirement Agreement and replace the Prior Retirement Agreement with this
Agreement in order to facilitate the continued employment of the Executive under restructured terms and conditions that will benefit the Parties by more closely aligning the terms of the Agreement with the current prevailing compensation practices;
and 
 WHEREAS, the basic terms and conditions of this Agreement were reviewed and approved by the Compensation Committee and the Board of
Directors of the Company at a meeting held on the 27th day of May 2021; 
 NOW THEREFORE, in consideration of the mutual covenants and
agreements contained herein, and for other valuable consideration the receipt and adequacy of which is hereby acknowledged, the Parties hereby agree as follows: 

1. SERVICES. The Company currently employs the Executive as Chairman & Chief Executive Officer. The Executive and the Company have
entered into the Executive Chairman Employment Agreement effective July 1, 2021 (the “Executive Chairman Agreement”) relating to the Executive’s employment with the Company. 

2. RETIREMENT RIGHTS FULLY VESTED. The Executive’s rights hereunder are fully vested. 

3. GRANDFATHERED RETIREMENT PAYMENT. Upon the date the Executive ceases to provide services to the Company, the Company will pay to the
Executive in one lump sum payment an amount equal to $3,600,000 (the “Grandfathered Payment”) which shall be paid in the form of cash. The Grandfathered Payment is subject to the Six-Month Delay (as
defined in Section 14 of this Agreement) and is subject to Section 7 of this Agreement. 
 4. INVESTMENT PAYMENT. Beginning on the
Amendment Effective Date, the Grandfathered Payment shall be credited with interest at rate of five percent (5%) compounded quarterly (the “Grandfathered Earnings”). The Company shall keep track of the Credited Earnings by creating a
bookkeeping account (the “Grandfathered Earnings Account”) that will be adjusted 

 
as described in this Section 6. Upon the date the Executive receives the Grandfathered Payment, the Company shall also pay the Executive in one lump sum payment an amount equal to the value
of the Grandfathered Earnings Account in the form of cash. Such payment is subject to the Six-Month Delay and is subject to Section 7 of this Agreement. 

5. EXECUTIVE CHAIRMAN CONTRIBUTIONS. The Company shall credit an amount equal to $1,000,000 at the end of each calendar year that the Executive
provide services to the Company pursuant to the terms of the Executive Chairman Agreement to an account (the “Executive Chairman Contributions Account”) by creating a bookkeeping account, as well as make a contribution to the Grandfathered
Trust (or any Additional Trust) no later than the last day of such calendar year. The Executive Chairman Contributions Account will be credited with interest at rate of five percent (5%) compounded quarterly. Upon the date the Executive ceases to
provide services to the Company, the Company will pay to the Executive in one lump sum cash payment an amount equal to the balance of the Executive Chairman Contributions Account. Such payment is subject to the
Six-Month Delay and is subject to Section 7 of this Agreement. 
 6. BENEFICIARY. If the
Executive should die before he actually retires from the Company, the Company shall immediately pay to the Executive’s Beneficiary(ies) or Estate the amount the Company would have paid to the Executive had he retired immediately prior to his
death. The Beneficiary(ies) of any payments to be made after the Executive’s death shall be as designated by the Executive and shown on Exhibit A attached hereto or such other person or persons as the Executive shall designate in writing to the
Company. If the Executive has made no effective designation of Beneficiaries, any such payments shall be made to the Executive’s Estate. All payments to the Beneficiary(ies) shall be paid in the Company’s common stock. 

7. RESTRICTION AND NON-COMPETITION. The Executive shall not for a period of two years following
termination of the Executive’s employment with the Company, either directly or indirectly, accept employment with, render service, assistance or advice to, own, manage, operate, control or participate in the ownership, or allow his name to be
used by any competitor of the Company unless approved by the Board of Directors of the Company. Determination by the Board of Directors of the Company that the Executive has engaged in any such activity shall be binding and conclusive on all
parties, and in addition to all other rights and remedies which Company shall have, neither the Executive nor Beneficiary shall be entitled to any payments hereunder. 

8. INSURANCE. If the Company shall elect to purchase a life insurance contract to provide the Company with funds to make payments hereunder, the
Company shall at all times be the sole and complete owner and beneficiary of such contract, and shall have the unrestricted right to use all amounts and exercise all options and privileges thereunder without knowledge or consent of the Executive or
Beneficiary or any other person, it being expressly agreed that neither the Executive nor Beneficiary nor any other person shall have any right, title or interest whatsoever in or to any such contract. 

9. RABBI TRUST. The Company shall promptly establish one or more trusts for the purpose of paying the benefits hereunder. The Company shall
contribute an amount in cash equal to the Grandfathered Payment to trust within ninety (90) days following the Effective Date (the 

 
“Grandfathered Trust”). To the extent necessary for tax or financial accounting purposes, the Company may establish additional trusts (“Additional Trusts”). The Grandfathered
Trust and any Additional Trusts shall be a revocable “rabbi trust” pursuant to Rev. Proc. 92-64, 1992-2 C.B. 422 and the assets of the Grandfathered Trust and
any Additional Trusts shall be subject to the claims of the Company’s creditors in the event of the Company’s insolvency. Amounts paid to Executive from the Grandfathered Trust and any Additional Trusts shall discharge the obligations of
the Company hereunder to the Executive to the extent of the payments so made.  
 10. UNFUNDED PLAN. This Agreement is intended
to be an “unfunded” plan maintained primarily to provide deferred compensation for a “select group of management or highly compensated employees” within the meaning of the Employee Retirement Income Security Act of 1974, as
amended, and shall be so construed. The Company’s obligation under this Agreement shall be that of an unfunded and unsecured promise of the Company to pay property in the future. The Executive, Beneficiary and any other person or persons having
or claiming a right to payments hereunder or to any interest in this Agreement shall rely solely on the unsecured promise of the Company set forth herein, and nothing in this Agreement shall be construed to give the Executive, Beneficiary or any
other person or persons any right, title, interest or claim in or to any specific asset, fund, reserve, account or property of any kind whatsoever owned by the Company or in which it may have any right, title or interest now or in the future, but
the Executive shall have the right to enforce his claim against the Company in the same manner as any unsecured creditor. 
 11. AMENDMENT.
This Agreement may be amended at any time or from time to time by written agreement of the parties. 
 12. ASSIGNMENT. Neither the Executive,
nor Beneficiary, nor any other person entitled to payments hereunder shall have power to transfer, assign, anticipate, mortgage or otherwise encumber in advance any of such payments, nor shall such payments be subject to seizure for the payment of
public or private debts, judgments, alimony or separate maintenance, or be transferable by operation of law in the event of bankruptcy, insolvency or otherwise. 

13. BINDING EFFECT. This Agreement shall be binding upon the parties hereto, their heirs, executors, administrators, successors and assigns. The
Company agrees it will not be a party to any merger, consolidation or reorganization, unless and until its obligations hereunder shall be expressly assumed by its successors. 

14. SECTION 409A OF THE CODE. It is the intention of the Parties that the benefits and rights to which the Executive could be entitled pursuant
to this Agreement comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the Treasury Regulations and other guidance promulgated or issued thereunder, to the extent that the requirements of
Section 409A of the Code are applicable thereto, and this Agreement shall be construed in a manner consistent with that intention. If the Executive or the Company believes, at any time, that any such benefit or right that is subject to
Section 409A of the Code does not so comply, it shall promptly advise the other and shall negotiate reasonably and in good faith to amend the terms of such benefits and rights such that they comply with Section 409A of the Code (with the
most limited possible economic effect on the Executive and on the Company). 

 Any reference to the term ceases to provide services, retire, retirement, termination of
employment (or any other similar term) under this Agreement shall apply to any “separation from service” within the meaning of Section 409A of the Code and any payment or benefit required to be paid hereunder shall be made only in
connection with the Executive’s “separation from service” within the meaning of Section 409A of the Code. 

Notwithstanding any other provision of this Agreement, in the event the Executive is treated as a “specified employee” under
Section 409A of the Code and any payment under this Agreement is treated as a nonqualified deferred compensation payment under Section 409A of the Code, then to the extent required by Section 409A, the payment of such amounts shall be
delayed for six months and a day following the effective date of the Executive’s termination of employment, at which time a lump sum payment shall be made to the Executive consisting of the sum of the delayed payments (“Six-Month Delay”). This provision shall not apply in the event of a specified employee’s termination of employment on account of death and, in the event of a specified employee’s death during
the Six-Month Delay, such nonqualified deferred compensation may be paid at any time on or after such specified employee’s death. 

Neither the Company nor the Executive, individually or in combination, may accelerate any payment or benefit hereunder that is subject to
Section 409A of the Code, except in compliance with Section 409A of the Code and this Agreement, and no amount that is subject to Section 409A of the Code shall be paid prior to the earliest date on which it may be paid without
violating Section 409A of the Code. 
 15. WITHHOLDING. The Company may make such provisions and take such steps as it may deem necessary
or appropriate for the withholding of any taxes that the Company is required by any law or regulation of any governmental authority, whether federal, state or local, domestic or foreign. The Compensation Committee of the Board of Directors of the
Company has approved pursuant to Rule 16b-3 of the Securities Exchange Act of 1934, as amended, entering into this Agreement and all transactions contemplated herein. 

IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the date first above written. 

 

					
	The GEO Group, Inc.
	
	 /s/ Richard H. Glanton

	Richard H. Glanton
	Chairman of the Compensation Committee
	
	EXECUTIVE
	
	 /s/ George C. Zoley

	George C. Zoley
	Chairman & Chief Executive Officer

 Exhibit A 

Beneficiaries 
 Donna ZoleyEX-10.4

 Exhibit 10.4 

EXECUTIVE EMPLOYMENT AGREEMENT 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into on May 27, 2021 by and between The GEO Group,
Inc. (the “Company”) and Jose Gordo (the “Executive” and, together with the Company, the “Parties”). 

WHEREAS, the Parties desire to set forth herein the rights and obligations with respect to the Employee’s employment with the
Company; and 
 WHEREAS, the terms of this Agreement have been reviewed and approved by the members of the Compensation Committee of
the Board of Directors of the Company (the “Compensation Committee”). 
 WHEREAS, the terms of this Agreement have been
reviewed and approved by the Board of Directors of the Company (the “Board”); 
 NOW THEREFORE, in consideration of the
mutual covenants and agreements contained herein, and for other valuable consideration the receipt and adequacy of which is hereby acknowledged, the Parties hereby agree as follows: 

 

	1.	 POSITION AND DUTIES. Effective July 1, 2021, (the “Effective Date”) the Company
hereby agrees to employ the Executive in the positions and titles of CEO of the Company, and the Executive hereby agrees to be employed in such capacities. The Executive will perform all duties and responsibilities and will have all authority
inherent in the position of CEO. The Executive shall report directly to the Executive Chairman. He shall have all authority and responsibility commensurate with the CEO titles, including ultimate responsibility for and authority over all day-to-day matters and personnel of the Company. 

  

	2.	 TERM OF AGREEMENT AND EMPLOYMENT. The term of the Executive’s employment under this
Agreement will be for an initial period of three (3) years, beginning on the Effective Date, and terminating three years thereafter. The term of employment under this Agreement will be automatically extended by one day every day such that it
has a continuous “rolling” three-year term, unless otherwise terminated pursuant to Section 6 or 7 of this Agreement. 

  

	3.	 DEFINITIONS. 

 

	 	A.	 CAUSE. “Cause” for the termination of the Executive’s employment hereunder shall be
deemed to exist if, in the reasonable judgment of the Company’s Board: (i) the Executive commits fraud, theft or embezzlement against the Company or any subsidiary or affiliate thereof; (ii) the Executive commits a felony or a crime
involving moral turpitude; (iii) the Executive breaches any non-competition, confidentiality or non-solicitation agreement with the Company or any subsidiary or
affiliate thereof; (iv) the Executive breaches any of the terms of this Agreement and fails to cure such breach within 30 days after the receipt of written notice of such breach from the Company; or (v) the Executive engages in gross
negligence or willful misconduct that causes harm to the business and operations of the Company or a subsidiary or affiliate thereof. 

	 	B.	 GOOD REASON. Termination by the Executive of his employment for “Good Reason” shall mean a
termination by the Executive of his employment upon the occurrence of one of the following events or conditions without the consent of the Executive: 

(i) A material reduction in the Executive’s authority, duties or responsibilities; 

(ii) A material reduction in the authority, duties or responsibilities of the Executive, including any requirement that the Executive is
required to report to any person or entity other than the Executive Chairman and the Board; 
 (iii) A material reduction in the budget over
which the Executive retains authority; 
 (iv) Any material reduction in the Executive’s Annual Base Salary (as defined below) or
material adverse change in the terms or basis by which the Executive’s Annual Performance Award is calculated as of the Effective Date, including a suspension, discontinuation or termination of such Annual Performance Award by the Board or any
committee thereof; 
 (v) A change in the location of the Executive’s principal place of employment by the Company of more than 50 miles
from the location at which he was principally employed; or 
 (vi) Any material breach of this Agreement by the Company. 

Notwithstanding the foregoing, the Executive shall not be deemed to have terminated this Agreement for Good Reason unless: (i) the
Executive terminates this Agreement no later than 2 years following the initial existence of the above referenced event or condition which is the basis for such termination (it being understood that each instance of any such event shall constitute a
separate basis for such termination and a separate event or condition occurring on the date of such instance for purposes of calculating the 2-year period); and (ii) the Executive provides to the Company
a written notice of the existence of the above referenced event or condition which is the basis for the termination within 90 days following the initial existence of such event or condition, and the Company fails to remedy such event or condition
within 30 days following the receipt of such notice. 
  

	4.	 COMPENSATION. 

 

	 	A.	 ANNUAL BASE SALARY. Executive shall be paid an annual base salary of nine hundred thousand dollars
($900,000) (as such may be amended from time to time, the “Annual Base Salary”). The annual base salary is subject to review each calendar year and possible increase in the sole discretion of the Compensation Committee. The Annual Base
Salary shall be payable at such regular times and intervals as the Company customarily pays its senior executives from time to time. 

  

	 	B.	 ANNUAL PERFORMANCE AWARD. For each fiscal year of employment during which the Company employs the
Executive, the Executive shall be entitled to receive a target annual performance award of eighty-five (85%) of Executive’s Annual Base Salary, in accordance with the terms of any plan governing senior management performance awards then in
effect as established by the Compensation Committee (the “Annual Performance Award”), such Annual Performance Award to be paid in accordance with the terms of the applicable plan. 

  
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	 	C.	 STOCK INCENTIVE PLAN. For each fiscal year of employment during which the Company employs the Executive,
the Executive shall be entitled to participate in the Stock Incentive Plan in accordance with the terms of any plan which the Company has in place including stock option awards, restricted stock awards, performance awards, stock appreciation rights
and any other award allowed by the Stock Incentive Plan. Upon the Effective Date, the Company shall grant Executive a grant of fifty thousand (50,000) performance shares pursuant to the terms of the Stock Incentive Plan (the “Initial
Grant”) that will vest ratably over a three-year period. 

  

	5.	 EXECUTIVE BENEFITS. The Executive will be entitled to
twenty-six (26) paid-time-off (PTO) days of vacation per fiscal year. The Executive, the Executive’s spouse, and qualifying members of the Executive’s
family will be eligible for and will participate in, without action by the Board or any committee thereof, any benefits and perquisites available to executive officers of the Company, including any group health, dental, life insurance, disability,
or other form of executive benefit plan or program of the Company now existing or that may be later adopted by the Company (collectively, the “Executive Benefits”). 

 

	6.	 DEATH OR DISABILITY. The Executive’s employment will terminate immediately upon the
Executive’s death. If the Executive becomes physically or mentally disabled so as to become unable for a period of more than five consecutive months or for shorter periods aggregating at least five months during any twelve-month period to
perform the Executive’s duties hereunder on a substantially full-time basis, the Executive’s employment will terminate as of the end of such five-month or twelve-month period and this shall be considered a “disability” under this
Agreement. Such termination shall not affect the Executive’s benefits under the Company’s disability insurance program, if any, then in effect. 

  

	7.	 TERMINATION. Either the Executive or the Company may terminate the Executive’s employment
under this Agreement for any reason upon not less than thirty (30) days written notice. 

  

	 	A.	 TERMINATION OF EMPLOYMENT BY THE EXECUTIVE FOR GOOD REASON, BY THE COMPANY WITHOUT CAUSE OR UPON THE DEATH
OR DISABILITY OF THE EXECUTIVE. Upon the termination of the Executive’s employment under this Agreement by the Executive for Good Reason, by the Company without Cause, or as a result of the death (in which case, the provisions of
Section 7(A)(i) – (v) shall inure to the benefit of the Executive’s covered dependents, or to the extent applicable, to the Executive’s estate) or disability of the Executive, the following shall apply: 

 

	 	(i)	 TERMINATION PAYMENT. The Executive shall be entitled to and paid a termination payment (the
“Termination Payment”) equal to two (2) times the sum of (a) Executive’s Annual Base Salary at the time of such termination and (b) the Executive’s target bonus (the “Target Bonus”) under the
Company’s Senior Management Performance Award Plan (or any successor plan) for the fiscal year in which his employment is terminated or, if greater, the Target Bonus for the fiscal year immediately prior to such termination. The Termination
Payment shall be made within ten (10) days of any termination pursuant to this Section 7(A). 

  

	 	(ii)	 TERMINATION BENEFITS. The Company shall continue to provide the Executive and any covered dependents of
Executive (and if applicable, his beneficiaries) with the Executive Benefits (as described in Section 5 hereof) for a period of five (5) years after the date of termination of the Executive’s employment with the Company. Such
Executive Benefits shall be provided at no cost to the Executive in no less than the same amount, and on the same terms and conditions, as in effect on the date on which the termination of employment

  
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occurs. If the Executive dies during the five (5) year period following a termination pursuant to this Section 7(A), the Company shall continue to provide the Executive Benefits to the
Executive’s covered dependents under the same terms as were being provided prior to Executive’s death and, to the extent applicable, to the Executive’s estate. 

 

	 	(iii)	 TERMINATION AUTOMOBILE. Within ten (10) days following termination, the Company shall transfer all
of its interest in any automobile used by the Executive pursuant to the Company’s Executive Automobile Policy (the “Executive Automobile Policy”) and shall pay the balance of any outstanding loans or leases on such automobile (whether
such obligations are those of the Executive or the Company) so that the Executive owns the automobile outright (in the event such automobile is leased, the Company shall pay the residual cost of such lease). 

 

	 	(iv)	 INTEREST ON UNPAID TERMINATION PAYMENT. In the event that the Company does not pay the Termination
Payment by the due dates specified in this Agreement, then any unpaid amount shall bear interest at the rate of eighteen percent (18%) per annum, compounded monthly, until it is paid. 

 

	 	(v)	 TERMINATION STOCK OPTIONS AND RESTRICTED STOCK. All of the outstanding unvested stock options and
restricted stock granted to the Executive prior to termination will fully vest immediately upon termination, provided however, that any restricted stock that is still subject to performance based vesting at the time of such termination shall only
vest when and to the extent the Compensation Committee certifies that the performance goals are actually met. 

  

	 	B.	 TERMINATION OF EMPLOYMENT BY RESIGNATION OF EXECUTIVE WITHOUT GOOD REASON OR BY THE COMPANY WITH CAUSE.
Upon the termination of the Executive’s employment by the resignation of the Executive without Good Reason, by the Company with Cause, or for any other reason other than a reason described in Section 7(A) above, the Executive shall be due
no further compensation under this Agreement related to Annual Base Salary, Annual Performance Award, Executive Benefits, or Termination Payment other than what is due and owing through the effective date of such Executive’s resignation or
termination (including any Performance Award that may be due and payable to the Executive under the terms of the Senior Management Performance Award Plan), which amounts shall be paid to the Executive within 10 days of termination.

  

	8.	 RESTRICTIVE COVENANTS. 

 

	 	A.	 GENERAL. The Company and the Executive hereby acknowledge and agree that (i) the Executive is in
possession of trade secrets (as defined in Section 688.002(4) of the Florida Statutes) of the Company (the “Trade Secrets”), (ii) the restrictive covenants contained in this Section 8 are justified by legitimate business
interests of the Company, including, but not limited to, the protection of the Trade Secrets, in accordance with Section 542.335(1)(e) of the Florida Statutes, and (iii) the restrictive covenants contained in this Section 8 are
reasonably necessary to protect such legitimate business interests of the Company. 

  
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	 	B.	 NON-COMPETITION. In consideration for the termination payments
and benefits that the Executive may receive in accordance with Section 7(A) of this Agreement, the Executive agrees that during the period of the Executive’s employment with the Company and until three years after the termination of the
Executive’s employment with the Company, the Executive will not, directly or indirectly, either (i) on the Executive’s own behalf or as a partner, officer, director, trustee, executive, agent, consultant or member of any person, firm
or corporation, or otherwise, enter into the employ of, render any service to, or engage in any business or activity which is the same as or competitive with any business or activity conducted by the Company or any of its majority-owned
subsidiaries, or (ii) become an officer, employee or consultant of, or otherwise assume a substantial role or relationship with, any governmental entity, agency or political subdivision that is a client or customer of the Company or any
subsidiary or affiliate of the Company; provided, however, that the foregoing shall not be deemed to prevent the Executive from investing in securities of any company having a class of securities which is publicly traded, so long as through such
investment holdings in the aggregate, the Executive is not deemed to be the beneficial owner of more than 5% of the class of securities that is so publicly traded. During the period of the Executive’s employment and until three years after the
termination of the Executive’s employment, the Executive will not, directly or indirectly, on the Executive’s own behalf or as a partner, shareholder, officer, executive, director, trustee, agent, consultant or member of any person, firm
or corporation or otherwise, seek to employ or otherwise seek the services of any executive of the Company or any of its majority-owned subsidiaries. 

  

	 	C.	 CONFIDENTIALITY. During and following the period of the Executive’s employment with the Company,
the Executive will not use for the Executive’s own benefit or for the benefit of others, or divulge to others, any information, Trade Secrets, knowledge or data of a secret or confidential nature and otherwise not available to members of the
general public that concerns the business or affairs of the Company or its subsidiaries or affiliates and which was acquired by the Executive at any time prior to or during the term of the Executive’s employment with the Company, except with
the specific prior written consent of the Company. 

  

	 	D.	 WORK PRODUCT. The Executive agrees that all programs, inventions, innovations, improvements,
developments, methods, designs, analyses, reports and all similar or related information which relate to the business of the Company and its subsidiaries or affiliates, actual or anticipated, or to any actual or anticipated research and development
conducted in connection with the business of the Company and its subsidiaries or affiliates, and all existing or future products or services, which are conceived, developed or made by the Executive (alone or with others) during the term of this
Agreement (“Work Product”) belong to the Company. The Executive will cooperate fully in the establishment and maintenance of all rights of the Company and its subsidiaries or affiliates in such Work Product. The provisions of this
Section 8(D) will survive termination of this Agreement indefinitely to the extent necessary to require actions to be taken by the Executive after the termination of the Agreement with respect to Work Product created during the term of this
Agreement. 

  

	 	E.	 ENFORCEMENT. The Parties agree and acknowledge that the restrictions contained in this Section 8
are reasonable in scope and duration and are necessary to protect the Company or any of its subsidiaries or affiliates. If any covenant or agreement contained in this Section 8 is found by a court having jurisdiction to be unreasonable in
duration, geographical scope or character of restriction, the covenant or agreement will not be 

  
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rendered unenforceable thereby but rather the duration, geographical scope or character of restriction of such covenant or agreement will be reduced or modified with retroactive effect to make
such covenant or agreement reasonable, and such covenant or agreement will be enforced as so modified. The Executive agrees and acknowledges that the breach of this Section 8 will cause irreparable injury to the Company or any of its
subsidiaries or affiliates and upon the breach of any provision of this Section 8, the Company or any of its subsidiaries or affiliates shall be entitled to injunctive relief, specific performance or other equitable relief, without being
required to post a bond; PROVIDED, HOWEVER, that, this shall in no way limit any other remedies which the Company or any of its subsidiaries or affiliates may have (including, without limitation, the right to seek monetary damages).

  

	9.	 REPRESENTATIONS. The Executive hereby represents and warrants to the Company that (i) the
execution, delivery and full performance of this Agreement by the Executive does not and will not conflict with, breach, violate or cause a default under any agreement, contract or instrument to which the Executive is a party or any judgment, order
or decree to which the Executive is subject; (ii) the Executive is not a party or bound by any employment agreement, consulting agreement, agreement not to compete, confidentiality agreement or similar agreement with any other person or entity;
and (iii) upon the execution and delivery of this Agreement by the Executive and the Company, this Agreement will be the Executive’s valid and binding obligation, enforceable in accordance with its terms. 

 

	10.	 ARBITRATION. In the event of any dispute between the Company and the Executive with respect to
this Agreement, either party may, in its sole discretion by notice to the other, require such dispute to be submitted to arbitration. The arbitrator will be selected by agreement of the Parties or, if they cannot agree on an arbitrator or
arbitrators within 30 days after the giving of such notice, the arbitrator will be selected by the American Arbitration Association. The determination reached in such arbitration will be final and binding on both Parties without any right of appeal.
Execution of the determination by such arbitrator may be sought in any court having jurisdiction. Unless otherwise agreed by the Parties, any such arbitration will take place in West Palm Beach, Florida and will be conducted in accordance with the
rules of the American Arbitration Association. If the Executive is the prevailing party in any such arbitration, he will be entitled to reimbursement by the Company of all reasonable costs and expenses (including attorneys’ fees incurred in
such arbitration). 

  

	11.	 ASSIGNMENT. The Executive may not assign, transfer, convey, mortgage, hypothecate, pledge or in
any way encumber the compensation or other benefits payable to the Executive or any rights which the Executive may have under this Agreement. Neither the Executive nor the Executive’s beneficiary or beneficiaries will have any right to receive
any compensation or other benefits under this Agreement, except at the time, in the amounts and in the manner provided in this Agreement. This Agreement will inure to the benefit of and will be binding upon any successor to the Company, and any
successor to the Company shall be authorized to enforce the terms and conditions of this Agreement, including the terms and conditions of the restrictive covenants contained in Section 8 hereof. As used in this Agreement, the term
“successor” means any person, firm, corporation or other business entity which at any time, whether by merger, purchase or otherwise, acquires all or substantially all of the capital stock or assets of the Company. This Agreement may not
otherwise be assigned by the Company. 

  

	12.	 GOVERNING LAW. This Agreement shall be governed by the laws of the State of Florida without
regard to the application of conflicts of laws. 

  
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	13.	 ENTIRE AGREEMENT. This Agreement constitutes the only agreements between Company and the
Executive regarding the Executive’s employment by the Company. This Agreement supersedes all other agreements and understandings, written or oral, between the Company and the Executive regarding the subject matter hereof and thereof. A waiver
by either party of any provision of this Agreement or any breach of such provision in an instance will not be deemed or construed to be a waiver of such provision for the future, or of any subsequent breach of such provision. This Agreement may be
amended, modified or changed only by further written agreement between the Company and the Executive, duly executed by both Parties. 

  

	14.	 SEVERABILITY; SURVIVAL. In the event that any provision of this Agreement is found to be void and
unenforceable by a court of competent jurisdiction, then such unenforceable provision shall be deemed modified so as to be enforceable (or if not subject to modification then eliminated herefrom) to the extent necessary to permit the remaining
provisions to be enforced in accordance with the Parties’ intention. The provisions of Section 8 (and the restrictive covenants contained therein) shall survive the termination for any reason of this Agreement and/or the Executive’s
relationship with the Company. 

  

	15.	 NOTICES. All notices required or permitted to be given hereunder will be in writing and will be
deemed to have been given when deposited in United States mail, certified or registered mail, postage prepaid. Any notice to be given by the Executive hereunder will be addressed to the Company to the attention of its General Counsel at its main
offices, 4955 Technology Way, Boca Raton, Florida 33431. Any notice to be given to the Executive will be addressed to the Executive at the Executive’s residence address last provided by the Executive to the Company. Either party may change the
address to which notices are to be addressed by notice in writing to the other party given in accordance with the terms of this Section. 

  

	16.	 HEADINGS. Section headings are for convenience of reference only and shall not limit or otherwise
affect the meaning or interpretation of this Agreement or any of its terms and conditions. 

  

	17.	 SECTION 409A COMPLIANCE. 

 

	 	A.	 GENERAL. It is the intention of both the Company and the Executive that the benefits and rights to which
the Executive is entitled pursuant to this Agreement comply with Code Section 409A, to the extent that the requirements of Code Section 409A are applicable thereto, and the provisions of this Agreement shall be construed in a manner
consistent with that intention. If the Executive or the Company believes, at any time, that any such benefit or right that is subject to Code Section 409A does not so comply, it shall promptly advise the other and shall negotiate reasonably and
in good faith to amend the terms of such benefits and rights such that they comply with Code Section 409A (with the most limited possible economic effect on the Executive and on the Company). 

 

	 	B.	 DISTRIBUTIONS ON ACCOUNT OF SEPARATION FROM SERVICE. To the extent required to comply with Code
Section 409A, any payment or benefit required to be paid under this Agreement on account of termination of the Executive’s service (or any other similar term) shall be made only in connection with a “separation from service” with
respect to the Executive within the meaning of Code Section 409A. 

  
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	 	C.	 NO ACCELERATION OF PAYMENTS. Neither the Company nor the Executive, individually or in combination, may
accelerate any payment or benefit that is subject to Code Section 409A, except in compliance with Code Section 409A and the provisions of this Agreement, and no amount that is subject to Code Section 409A shall be paid prior to the
earliest date on which it may be paid without violating Code Section 409A. 

  

	 	D.	 SIX MONTH DELAY FOR SPECIFIED EMPLOYEES. In the event that the Executive is a “specified
employee” (as described in Code Section 409A), and any payment or benefit payable pursuant to this Agreement constitutes deferred compensation under Code Section 409A, then the Company and the Executive shall cooperate in good faith
to undertake any actions that would cause such payment or benefit not to constitute deferred compensation under Code Section 409A. In the event that, following such efforts, the Company determines (after consultation with its counsel) that such
payment or benefit is still subject to the six-month delay requirement described in Code Section 409A(2)(b) in order for such payment or benefit to comply with the requirements of Code Section 409A,
then no such payment or benefit shall be made before the date that is six months after the Executive’s “separation from service” (as described in Code Section 409A) (or, if earlier, the date of the Executive’s death). Any
payment or benefit delayed by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order to catch up to the original payment schedule. 

 

	 	E.	 TREATMENT OF EACH INSTALLMENT AS A SEPARATE PAYMENT. For purposes of applying the provisions of Code
Section 409A to this Agreement, each separately identified amount to which the Executive is entitled under this Agreement shall be treated as a separate payment. In addition, to the extent permissible under Code Section 409A, any series of
installment payments under this Agreement shall be treated as a right to a series of separate payments. 

  

	 	F.	 REIMBURSEMENTS AND IN-KIND BENEFITS. With respect to
reimbursements and in-kind benefits that may be provided under the Agreement (the “Reimbursement Plans”), to the extent any benefits provided under the Reimbursement Plans are subject to
Section 409A, the Reimbursement Plans shall meet the following requirements: 

 (i) Reimbursement
Plans shall use an objectively determinable, nondiscretionary definition of the expenses eligible for reimbursement or of the in-kind benefits to be provided; 

(ii) Reimbursement Plans shall provide that the amount of expenses eligible for reimbursement, or in-kind benefits provided, during the Executive’s taxable year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other
taxable year, provided, however, that Reimbursement Plans providing for reimbursement of expenses referred to in Code Section 105(b) shall not fail to meet the requirement of this Section 18(G)(ii) solely because such Reimbursement Plans
provide for a limit on the amount of expenses that may be reimbursed under such arrangements over some or all of the period in which Reimbursement Plans remain in effect; 

(iii) The reimbursement of an eligible expense is made on or before the last day of Executive’s taxable year following the
taxable year in which the expense was incurred; and 
 (iv) The right to reimbursement or
in-kind benefits under the Reimbursement Plans shall not be subject to liquidation or exchange for another benefit. 

  
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	 	G.	 EXECUTIVE BENEFITS. With respect to any Executive Benefits that do not comply with (or are not exempt
from) Code Section 409A, to the extent applicable, the Executive shall be deemed to receive from the Company a monthly payment necessary for the Executive to purchase the benefit in question. 

 

	 	H.	 INDEMNIFICATION BY THE COMPANY OF EXECUTIVE. Notwithstanding the intention of the Company and the
Executive that the benefits and rights to which the Executive is entitled pursuant to this Agreement comply with Code Section 409A, if any provision of this Agreement fails to comply with Code Section 409A and any payment or benefit paid
or made to the Executive pursuant to the terms of this Agreement becomes subject to taxation pursuant to Code Section 409A, then the Company shall fully indemnify the Executive and hold the Executive harmless from any such taxation, and any
costs, fees or expenses borne by the Executive in connection with such taxation; provided, however, that such indemnification obligation of the Company shall not apply to any taxation which could have been reasonably avoided by the Executive through
an amendment to this Agreement which the Company timely proposed but which the Executive refused to make. The Company shall control any tax or other audit relating to any matter for which it may have an indemnification obligation pursuant to this
Section 18(I). Notwithstanding anything in this Agreement to the contrary, any payment to indemnify the Executive pursuant to this Section 18(H) (including any amount paid to cover additional taxes imposed upon the Executive due to such
initial payment), shall be made no later than the end of the Executive’s taxable year in which the Executive remits the related taxes. 

[SIGNATURES APPEAR ON THE FOLLOWING PAGE] 

  
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 IN WITNESS WHEREOF, the Parties hereto have executed and delivered this Agreement
under seal as of the date first above written. 
  

			
	THE GEO GROUP, INC.
		
	By:	 	 /s/ Richard H. Glanton

	Name: Richard H. Glanton
	Title: Chairman of the Compensation Committee
	
	EXECUTIVE
		
	By:	 	 /s/ Jose Gordo

	Name: Jose Gordo

  
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