EXHIBIT 10.2

                                 SIX FLAGS, INC.
                        2006 EMPLOYEE STOCK PURCHASE PLAN

      I.    Purpose of the Plan

            The purpose of the Six Flags, Inc. 2006 Employee Stock Purchase Plan
(the "Plan") is to provide employment incentive through a capital accumulation
opportunity, link employee and stockholder interests, and provide an opportunity
for employees of Six Flags, Inc. (the "Company") and its Participating
Subsidiaries to purchase Common Stock through payroll deductions.

      II.   Definitions

            "Board" means the Company's Board of Directors.

            "Code" means the Internal Revenue Code of 1986, as amended from time
to time.

            "Change-in-Control" means the happening of any of the following:

                  (i)   When any "person" as defined in Section 3(a)(9) of the
                        Securities Exchange Act of 1934, as amended (the
                        "Exchange Act"), and as used in Sections 13(d) and 14(d)
                        thereof, including a "group" as defined in Section 13(d)
                        of the Exchange Act but excluding the Company and any
                        Subsidiary thereof and any employee benefit plan
                        sponsored or maintained by the Company or any Subsidiary
                        (including any trustee of such plan acting as trustee),
                        directly or indirectly, becomes the "beneficial owner"
                        (as defined in Rule 13d-3 under the Exchange Act, as
                        amended from time to time), of securities of the Company
                        representing thirty-five percent (35%) or more of the
                        combined voting power of the Company's then outstanding
                        securities;

                  (ii)  When, during any period of 24 consecutive months, the
                        individuals who, at the beginning of such period,
                        constitute the Board (the "Incumbent Directors") cease
                        for any reason other than death to constitute at least a
                        majority thereof, provided that a Director who was not a
                        Director at the beginning of such 24-month period shall
                        be deemed to have satisfied such 24-month requirement
                        (and be an Incumbent Director) if such Director was
                        elected by, or on the recommendation of or with the
                        approval of, at least two-thirds of the Directors who
                        then qualified as Incumbent Directors either actually
                        (because they were Directors at the beginning of such
                        24-month period) or by prior operation of this paragraph
                        (ii); or

                  (iii) The occurrence of a transaction requiring stockholder
                        approval for the acquisition of the Company by an entity
                        other than the Company or a Subsidiary through purchase
                        of assets, or by merger, or otherwise.

            Notwithstanding the foregoing, in no event shall a
"Change-in-Control" be deemed to have occurred (i) as a result of the formation
of a Holding Company (as defined below), or (ii) with respect to any Employee,
if such Employee is part of a "group", within the meaning of Section 13(d)(3) of
the Exchange Act as in effect on the effective date, which consummates the
Change-in-Control transaction. In addition, for purposes of the definition of
"Change-in-Control" a person engaged in business as an underwriter of securities
shall not be deemed to be the "beneficial owner" of, or to "beneficially own,"
any securities acquired through such person's participation in good faith in a
firm commitment underwriting until the expiration of forty days after the date
of such acquisition.

            "Committee" means the Board's Compensation Committee or such other
committee of the Board designated by the Board to administer the Plan.

            "Common Stock" means the common shares, $.025 par value, of the
Company.

            "Company" means Six Flags, Inc., a Delaware corporation.

            "Compensation" means annual base salary during a Purchase Period and
does not include any bonus, severance or overtime payment, disability payment,
contributions to an employee benefit plan or other similar payment or
contribution.

            "Continuous Status as an Employee" means the absence of any
interruption or termination of service as an Employee. Continuous Status as an
Employee shall not be considered interrupted in the case of (i) sick leave, (ii)
military leave, (iii) any other leave of absence approved by the Company,
provided that such leave is for a period of not more than ninety (90) days,
unless reemployment upon the expiration of such leave is guaranteed by contract
or statute, or unless provided otherwise pursuant to Company policy adopted from
time to time, or (iv) in the case of transfers between locations of the Company
or between the Company and its Participating Subsidiaries.

            "Employee" means any person, including an officer, who is an
employee of the Company or one of its Participating Subsidiaries for tax
purposes and who is employed at least twenty-one (21) days prior to the Grant
Date of an Offering (or such shorter period as the Company, in its sole
discretion, may determine), excluding those persons who have been employed by
the Company for less than two years and/or whose customary employment is 20
hours or less per week and/or is for five months or less in any calendar year.

            "Expiration Date" means the last day of an Offering as designated by
the Committee, which, in any event, shall not be more than twenty-seven (27)
months after the Grant Date.

            "Fair Market Value" shall mean on any date, with respect to a share
of Common Stock, the closing price of a share of Common Stock as reported by the
Consolidated Tape of New York Stock Exchange Listed Shares on such date, or, if
no shares were traded on such Exchange on such date, on the next date on which
the Common Stock is traded.

            "Holding Company" means an entity that becomes a holding company for
the Company or its business as part of any reorganization, merger, consolidation
or other transaction, provided that the outstanding shares of common stock of
such entity and the combined voting power of the then outstanding voting
securities of such entity entitled to vote generally in the election of
directors is, immediately after such reorganization, merger, consolidation or
other transaction, beneficially owned, directly or indirectly, by all or
substantially all of the individuals and entities who were the beneficial owners
of the outstanding shares of common stock and the combined voting power of the
outstanding voting securities, respectively, of the Company immediately prior to
such reorganization, merger, consolidation or other transaction in substantially
the same proportions as their ownership, immediately prior to such
reorganization, merger, consolidation or other transaction, of such outstanding
voting stock.

            "Grant Date" means the first business day of each Purchase Period of
the Plan.

            "Offering" means the grant of Purchase Rights under the Plan.

            "Participating Subsidiary" means the Subsidiaries that have been
designated by the Committee or the Board from time to time in its sole
discretion as eligible to participate in one or more Offerings under the Plan;
provided however that the Board shall only have the discretion to designate
Subsidiaries if the grant of Purchase Rights to such Subsidiary Employees
pursuant to the Plan would not cause the Company to incur material adverse
accounting charges.

            "Purchase Period" means the period of an Offering beginning on the
Grant Date and ending on the Expiration Date.

            "Purchase Rights" means rights to purchase shares of Common Stock
under the Plan on the terms or conditions set forth herein and as determined by
the Committee as provided hereunder.

            "Subsidiary" means any company in an unbroken chain of companies
beginning with (and including) the Company in which each company other than the
last company in the unbroken chain owns stock possessing 50% or more of the
total combined voting power of all classes of stock in one of the other
companies in such chain.

      III.  Administration of the Plan

            The Committee shall administer the Plan. The Committee shall have
full power and authority to construe and interpret the Plan and may from time to
time adopt such rules and regulations for carrying out the Plan, as it may deem
best. Decisions of the Committee shall be final, conclusive and binding upon all
parties, including the Company, its stockholders and its employees.

            The Committee may in its sole discretion determine from time to time
that the Company shall grant Purchase Rights under an Offering to all of the
then eligible Employees, provided, however, that it shall be under no obligation
to do so.

      IV.   Participation in the Plan

            The individuals who shall be eligible to receive grants of Purchase
Rights under an Offering shall be all Employees of the Company or of any
Participating Subsidiary who are so employed by the Company or Participating
Subsidiary on the Grant Date of such Offering; provided, however, that no
individual shall be eligible to effect a purchase under an Offering if
immediately thereafter and after giving effect thereto, the aggregate value or
voting power of all shares of stock of the Company and any Subsidiary then owned
by such individual, either directly or indirectly, within the meaning of the
applicable sections of the Code and including all shares of stock with respect
to which such individual holds options, would equal or exceed in the aggregate
5% of the total value or combined voting power of all classes of stock of the
Company or any Subsidiary.

      V.    Stock

            (a) The stock subject to an Offering shall be authorized but
unissued shares of Common Stock. Subject to adjustment in accordance with the
provisions described under the Section VI(f) below, the total number of shares
of Common Stock which may be the subject of Offerings under the Plan shall not
exceed in the aggregate 500,000 shares.

            (b) In the event that any shares of Common Stock, which are the
subject of an Offering, are not purchased, such unpurchased shares of Common
Stock may again be available for subsequent Offerings.

      VI.   Number of Shares That an Employee May Purchase.

            (a) An eligible Employee may elect to purchase through payroll
deductions under an Offering a number of whole shares of Common Stock determined
by the Committee from time to time.

            (b) The number of whole shares of Common Stock that a participating
Employee may purchase on the Expiration Date shall be determined by dividing
such Employee's contributions accumulated prior to such Expiration Date and
retained in such Employee's account as of the Expiration Date by the applicable
purchase price; provided, however, that such purchase shall be subject to the
limitations set forth in this Section VI.

            (c) Notwithstanding the foregoing provisions of the Plan, no
eligible Employee may elect to purchase under Offerings in any single calendar
year a number of whole shares of Common Stock which, together with all other
shares in the Company and Subsidiaries which the Employee may be entitled to
purchase in such year pursuant to an Offering and under any other employee stock
purchase plan, as defined in Section 423 of the Code, has an aggregate fair
market value (measured in each case as of the Grant Date) in excess of $25,000.

      VII.  Participation

            (a) An eligible Employee may become a participant in the Plan by
completing a subscription agreement and any other required documents provided by
the Company and submitting them in the form and manner designated by the
Company.

            (b) Unless otherwise determined by the Company, payroll deductions
in respect of an Offering shall commence on the first full payroll period
beginning on or after the Grant Date of such Offering and shall end on the last
payroll period ending prior to the Expiration Date of such Offering, unless
sooner terminated by the participating Employee as provided in Section X.

      VIII. Method of Payment of Contributions

            (a) A participating Employee shall elect to have payroll deductions
made on each payday during the Offering in whole percentages from one percent
(1%) to, and not exceeding, ten percent (10%) of such participating Employee's
Compensation during the Offering. All payroll deductions made by a participating
Employee shall be credited to his or her account under the Plan. A participating
Employee may not make any additional payments into such account.

            (b) A participating Employee may discontinue his or her
participation in the Plan as provided in Section X.

            (c) Notwithstanding the foregoing, to the extent necessary to comply
with Section 423(b)(8) of the Code and Section VI hereof, the Company may cause
a participant's payroll deductions to be decreased in respect of an Offering
year to zero percent (0%).

      IX.   Exercise of Purchase Rights

            Unless a participating Employee withdraws from the Plan as provided
in Section X, his or her right to purchase whole shares in any Offering will be
exercised automatically on each Expiration Date of an Offering, and the maximum
number of whole shares subject to the Purchase Right will be purchased at the
applicable purchase price with the accumulated contributions in his or her
account.

      X.    Voluntary Withdrawals; Termination of Employment

            (a) A participating Employee may withdraw all but not less than all
the contributions credited to his or her account under the Plan at any time
prior to the Expiration Date of an Offering by notifying the Company in the form
and manner designated by the Company. All of the participating Employee's
contributions credited to his or her account will be paid to him or her not
later than sixty (60) days after receipt of his or her notice of withdrawal and
his or her Purchase Right for the then current Offering will be automatically
terminated, and no further contributions for the purchase of Common Stock will
be permitted or made during the Offering.

            (b) Upon termination of the participating Employee's Continuous
Status as an Employee prior to the Expiration Date of an Offering for any
reason, whether voluntary or involuntary, including retirement or death, the
contributions credited to his or her account will be returned to him or her or,
in the case of his or her death, to the Employee's estate, and his or her
Purchase Right will be automatically terminated.

            (c) A participating Employee's withdrawal from an Offering will not
have any effect upon his or her eligibility to participate in a succeeding
Offering or in any similar plan that may hereafter be adopted by the Company.

      XI.   Terms and Conditions of Offerings

            (a)   General

            The Offerings shall be in such form as the Committee shall from time
to time approve, and shall contain such terms and conditions as the Committee
shall prescribe not inconsistent with the Plan.

            (b)   Purchase Price

            The purchase price per share will be established by the Committee
for each offering but in no event will the purchase price per share be less than
95% of the Fair Market Value of a share of Common Stock on the Expiration Date.

            (c)   Term of Offerings

            Each Offering shall commence on the Grant Date and terminate,
subject to earlier termination by the Committee, on the Expiration Date.

            (d)   Employee's Purchase Directions

            Each Offering shall provide that the participating Employee at the
conclusion of the Purchase Period may purchase all of the whole shares
purchasable in such Offering with the contributions credited to such Employee's
account unless such Employee shall, in the manner provided for in the Offering,
notify the Company as set forth in Section X that the Employee does not desire
to purchase any of such shares.

            (e)   Change-in-Control

            Upon a Change-in-Control, the Expiration Date shall be deemed to
have occurred immediately prior to such Change-in-Control and, unless an
Employee shall have withdrawn from the Plan as provided in Section X, all then
outstanding Purchase Rights shall be deemed to have been exercised on such
Expiration Date as provided in Section IX.

            (f)   Adjustments

            In the event that the Committee shall determine that any stock
dividend, extraordinary cash dividend, recapitalization, reorganization, merger,
consolidation, split-up, spin-off, combination, exchange of shares, offering to
purchase Common Stock at a price substantially below Fair Market Value, or other
similar event affects the Common Stock such that an adjustment is required in
order to preserve or prevent an enlargement of the benefits or potential
benefits intended to be made available under this Plan, then the Committee
shall, in its sole discretion, and in such manner as the Committee may deem
equitable, adjust any or all of (1) the number and kind of shares which
thereafter may be made the subject of Offerings under the Plan, (2) the number
and kind of shares subject to outstanding Offerings and (3) the purchase price
with respect to any of the foregoing and/or, if deemed appropriate, make
provision for a cash payment to a person who has outstanding Purchase Rights
provided, however, that the number of shares subject to any such Purchase Rights
shall always be a whole number.

            (g)   Assignability

            No rights hereunder shall be assignable or transferable.

            (h)   Employee's Agreement

            If, at the time of the purchase of shares which are covered by
Purchase Rights under an Offering, in the opinion of counsel for the Company, it
is necessary or desirable, in order to comply with any applicable laws or
regulations relating to the sale of securities, that the Employee purchasing
such shares shall agree that such Employee will purchase such shares for
investment and not with any present intention to resell the same, the Employee
will, upon the request of the Company, execute and deliver to the Company an
agreement to such effect. The Company may also require that a legend setting
forth such investment intention be stamped or otherwise written on the
certificates for shares purchased pursuant to the Plan.

            (i)   Rights as a Stockholder

            An Employee who has been granted Purchase Rights hereunder shall
have no rights as a stockholder with respect to shares covered by such Purchase
Rights until the date of the issuance of the shares to the Employee. No
adjustment will be made for dividends or other rights for which the record date
is prior to the date of such issuance. For purposes of the Plan, the Company, in
lieu of the issuance of certificates, may utilize a book entry account system
for recording ownership of shares of Common Stock, subject to the rules
generally applicable to such system.

            (j)   Interest

            No interest shall accrue on payroll deductions made under or
pursuant to the Plan or any Offering hereunder.

      XII.  Term of Plan

            No new Offering will commence after May 25, 2016.

      XIII. Amendments

            The Plan is wholly discretionary in nature. As such, the Board may,
in its sole discretion, from time to time alter, amend, suspend, or discontinue
the Plan or alter or amend any and all Purchase Rights or terminate any
Offering; provided, however, that no such action of the Board may, without the
approval of the stockholders, make any amendment for which stockholder approval
is necessary to comply with any tax or regulatory requirement with which the
Committee has determined it is necessary or advisable to have the Company
comply. Subject to the limitations in this Section XIII relating to stockholder
approval, the Committee may, in its sole discretion, make such amendment or
modification to the Plan or any Purchase Rights granted hereunder as is
necessary or desirable to comply with, or effectuate administration of, the Plan
under the laws, rules or regulations of any foreign jurisdiction, the laws of
which may be applicable to the Plan or its participants hereunder.

      XIV.  Application of Funds

            The proceeds received by the Company from the sale of the Common
Stock pursuant to an Offering will be used for general corporate purposes.

      XV.   Governing Law

            The Plan and all Offerings shall be construed in accordance with and
governed by the laws of Delaware without regard to the choice of law rules
thereunder.

      XVI.  Additional Restrictions of Rule 16b-3

            The terms and conditions of Purchase Rights granted hereunder to,
and the purchase of shares of Common Stock by, persons subject to Section 16 of
the Exchange Act shall comply with the applicable provisions of Rule 16b-3
thereunder. The Plan shall be deemed to contain, and such Purchase Rights shall
contain, and the shares of Common Stock issued upon exercise thereof shall be
subject to, such additional conditions and restrictions as may be required by
such Rule 16b-3 to qualify for the maximum exemption from such Section 16 with
respect to Plan transactions.