Exhibit 10.50

FIRST AMENDMENT, dated as of February 23, 2007 (this “Amendment”), to the CREDIT
AGREEMENT, dated as of October 27, 2004 (the “Credit Agreement”), among
DREAMWORKS ANIMATION SKG, INC., a Delaware corporation (“DW Animation”), the
several banks and other financial institutions from time to time parties to the
Credit Agreement, certain other parties and JPMORGAN CHASE BANK, N.A., as
Administrative Agent (in such capacity, the “Administrative Agent”). Terms
defined in the Credit Agreement shall be used in this Amendment with their
defined meanings unless otherwise defined herein.

WITNESSETH:

WHEREAS, DW Animation has requested that the Lenders enter into this Amendment;
and

WHEREAS, each of the parties hereto is willing to enter into this Amendment on
the terms and subject to the conditions set forth herein;

NOW, THEREFORE, in consideration of the premises and for other good and valuable
consideration the receipt and sufficiency of which is hereby acknowledged, the
parties hereto hereby agree as follows:

I. AMENDMENT TO CREDIT AGREEMENT.

1. Amendment to Section 7.4. Section 7.4 of the Credit Agreement is hereby
amended by (i) adding the parenthetical “(collectively, “Restricted Payments”)”
immediately before “, provided” and (ii) adding the following clause (c) to the
end thereof:

“and (c) to make other Restricted Payments so long as, after giving pro forma
effect thereto, the sum of (i) the excess, if any, of (x) the lesser of
(1) Borrowing Availability (determined without giving effect to clause (d) of
the definition thereof) and (2) the aggregate Commitments over (y) Facility
Exposure and (ii) DW Animation’s aggregate unencumbered (other than pursuant to
Liens under the Loan Documents) cash on hand equals at least $400,000,000”.

II. MISCELLANEOUS.

1. No Change. Except as expressly provided herein, no term or provision of the
Credit Agreement shall be amended, modified or supplemented, and each term and
provision of the Credit Agreement shall remain in full force and effect.

2. Effectiveness. This Amendment shall become effective upon receipt by the
Administrative Agent of (a) counterparts hereof duly executed by DW Animation
and the Required Lenders and (b) a consent fee payable by DW Animation to each
Lender consenting to this Amendment by 5:00 P.M., New York time, on February 22,
2007, in an amount equal to 0.025% of such Lender’s Commitment.

3. Counterparts. This Amendment may be executed by the parties hereto in any
number of separate counterparts, and all of said counterparts taken together
shall be deemed to constitute one and the same instrument.

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4. GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered by their proper and duly authorized officers as of the
day and year first above written.

 

DREAMWORKS ANIMATION SKG, INC. By:  

/s/ Kristina M. Leslie

Name:   Kristina M. Leslie Title:   Chief Financial Officer

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JPMORGAN CHASE BANK, N.A., as Administrative Agent and as a Lender By:  

/s/ Clark Hallren

Name:   Clark Hallren Title:   Managing Director