Document:

EX-10.32

 Exhibit 10.32 
 FORM OF AMENDED AND RESTATED 2009 ADVISORY AGREEMENT 
 This AMENDED AND
RESTATED 2009 ADVISORY AGREEMENT (this “Agreement”) is dated as of                 , 2013, and is between SeaWorld Parks &
Entertainment, Inc. (formerly known as SW Acquisitions Co., Inc.), a Delaware corporation (“SWPE), SeaWorld Parks & Entertainment LLC, a Delaware limited liability company, Sea World LLC, a Delaware limited liability
company (collectively with SWPE, SeaWorld Parks & Entertainment LLC and their respective successors, the “Companies”) Blackstone Real Estate Advisors VI L.P., a Delaware limited partnership
(“BREP”) and Blackstone Management Partners V L.L.C., a Delaware limited liability company (“BMP” and together with BREP, “Blackstone”). This Agreement amends and restates in
its entirety the Transaction and Advisory Fee Agreement dated as December 1, 2009 between the parties hereto. 

BACKGROUND 
 1. SWPE entered into an Equity Purchase Agreement, dated as of October 7, 2009 as amended, supplemented or modified (the “Acquisition Agreement”), by among Anheuser-Busch
Companies, Inc., Anheuser-Busch Inbev SA/NV, SW Cayman L.P. (formerly known as Orca Cayman L.P.) and SWPE. 
 2. In accordance
with the Acquisition Agreement, SWPE acquired all of the outstanding equity of SeaWorld Parks & Entertainment LLC and Sea World LLC (the “Acquisition”). 

3. Blackstone has expertise in the areas of finance, strategy, investment, acquisitions and other matters relating to the Companies and
their business and facilitated the Acquisition and certain other related transactions (collectively, the “Transactions”) through its provision of financial and structural analysis, due diligence investigations, other advice
and negotiation assistance with all relevant parties to the Transactions. Blackstone also provided advice and negotiation assistance with relevant parties in connection with the financing of the Transactions as contemplated by the Acquisition
Agreement. 
 4. The Companies desire to avail themselves, for the term of this Agreement, of Blackstone’s expertise in
providing financial and structural analysis, due diligence investigations, corporate strategy, other advice and negotiation assistance, which the Companies believe will be beneficial to them, and Blackstone desires to provide the services to the
Companies as set forth in this Agreement in consideration of the payment of the fees described below. 
 5. The rendering by
Blackstone of the services described in this Agreement has been made and will be made on the basis that the Companies will pay, or cause to be paid, the fees described below. 
 In consideration of the premises and agreements contained herein and of other good and valuable consideration, the sufficiency of which are hereby acknowledged, the parties agree as follows: 

AGREEMENT 

SECTION 1. Appointment. The Companies hereby engage Blackstone to render the Services (as defined in
Section 2(a), below) on the terms and subject to the conditions of this Agreement. 

 SECTION 2. Services. 

(a) Blackstone agrees that until the Termination Date (as defined below) or the earlier termination of its obligations under this
Section 2(a) pursuant to Section 3(e) hereof, it will render to the Companies, by and through itself and its affiliates and such of their respective officers, employees, representatives, agents and third parties as Blackstone in its sole
discretion may designate from time to time (“Representatives”), monitoring, advisory and consulting services in relation to the affairs of the Companies and their subsidiaries, including, without limitation, (i) advice
regarding the structure, distribution and timing of private or public debt or equity offerings and advice regarding relationships with the Companies and their subsidiaries’ lenders and bankers, including in relation to the selection, retention
and supervision of independent auditors, outside legal counsel, investment bankers or other financial advisors or consultants, (ii) advice regarding the strategy of the Companies and their subsidiaries, (iii) advice regarding the
structuring and implementation of equity participation plans, employee benefit plans and other incentive arrangements for certain key executives of the Companies, (iv) general advice regarding dispositions and/or acquisitions, (v) advice
regarding the business of the Companies and their subsidiaries, (vi) advice relating to and approving major capital projects and (vii) such other advice directly related to or ancillary to the above financial advisory services as may be
reasonably requested by the Companies (collectively, the “Services”). Blackstone will have no obligation to provide any other services to the Company absent an agreement between Blackstone and the Companies over the scope of
such other services and the payment therefor. 
 (b) It is expressly agreed that the Services to be rendered hereunder will not
include investment banking or other financial advisory services which may be provided by Blackstone or any of its affiliates to the Companies, or any of their affiliates, in connection with any specific acquisition, divestiture, disposition, merger,
consolidation, restructuring, refinancing, recapitalization, issuance of private or public debt or equity securities (including, without limitation, an initial public offering of equity securities), financing or similar transaction by the Companies
or any of their subsidiaries. Blackstone may be entitled to receive additional compensation for providing services of the type specified in the preceding sentence by mutual agreement of the Companies or such subsidiary, on the one hand, and
Blackstone or its relevant affiliate, on the other hand. In the absence of an express agreement regarding the provision by Blackstone or its affiliate of such services and the compensation therefor in connection with any such transaction specified
in this Section 2(b), in lieu of being engaged to provide such services on mutually agreeable terms Blackstone shall be entitled to receive upon consummation of: 

(i) any such acquisition, divestiture, disposition, merger, consolidation, restructuring or recapitalization, a
non-refundable and irrevocable fee equal to (x) 1% of the aggregate enterprise value of the acquired, divested, merged, consolidated, restructured or recapitalized entity (calculated, on a consolidated basis for such entity, as the sum of
(1) the market value of its common equity (or the fair market value thereof if not publicly traded), (2) the value of its preferred stock (at liquidation value), (3) the book value of its minority interests and (4) its aggregate
long- and short-term debt, less its cash and cash equivalents(other than $10 million of cash deemed to be permanently required in the business)), or (y) if such transaction is structured as an asset purchase or sale, 1% of the consideration
paid for or received in respect of the assets acquired or disposed of (including the amount of any liabilities assumed by the buyer in the transaction); 
 (ii) any such refinancing, a non-refundable and irrevocable fee equal to 1% of the aggregate value of the securities subject to such refinancing; and 

  
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 (iii) any such issuance other than an issuance in an initial public
offering, a non-refundable and irrevocable fee equal to 1% of the aggregate value of the securities subject to such issuance. 

(c) Without affecting the rights of Blackstone under Section 2(b) hereof, if the Companies or any of their subsidiaries determines
that it is advisable for the Companies or such subsidiary to hire a financial advisor, consultant, investment banker or any similar advisor in connection with any acquisition, divestiture, disposition, merger, consolidation, restructuring,
refinancing, recapitalization, issuance of private or public debt or equity securities (including, without limitation, an initial public offering of equity securities), financing or similar transaction, it will notify Blackstone of such
determination in writing. Promptly thereafter, upon the request of Blackstone, the parties will negotiate in good faith to agree upon appropriate services, compensation and indemnification in respect of the Companies or such subsidiary hiring
Blackstone or one of its affiliates to provide such services. The Companies and their subsidiaries may not hire any person, other than Blackstone or one of its affiliates to perform any such services unless all of the following conditions have been
satisfied: (i) the parties are unable to agree upon the terms of the engagement of Blackstone or its affiliate to render such services after 10 days following receipt by Blackstone of such written notice; (ii) such other person has a
reputation that is at least equal to the reputation of Blackstone or its affiliate in respect of such services; (iii) five business days have elapsed after the Companies or such subsidiary provides a written notice to Blackstone of its
intention to hire such other person, which notice shall identify such other person and shall describe in reasonable detail the nature of the services to be provided, the compensation to be paid and the indemnification to be provided; (iv) the
compensation to be paid is not more than the amount (including the amount of any fee to which Blackstone was entitled in accordance with Section 2(b) above) Blackstone or its affiliate was willing to accept in the negotiations described above;
and (v) the indemnification to be provided to such other person is not more favorable to it than the indemnification that Blackstone or its affiliate was willing to accept in the negotiations described above. 

SECTION 3. Advisory Fee. 
 (a) In consideration of the Services being rendered by Blackstone in accordance with Section 2(a), the Companies will pay, or will cause to be paid, to Blackstone, in advance of the relevant fiscal
year, an annual non-refundable advisory fee (the “Advisory Fee”) equal to 1.5% of Consolidated EBITDA (as defined in the Credit Agreement dated as of December 1, 2009 (the “Closing Date”), as
amended, by and among SeaWorld Entertainment, Inc., SWPE, the guarantors party thereto and the lenders from time to time party thereto) for such twelve-month period (the “EBITDA Amount”). 

(b) The Advisory Fee for the 13-month period ending December 31, 2010 shall be paid on the closing of the Acquisition in respect of
Services to be rendered from the closing of the Acquisition to December 31, 2010 (which Advisory Fee for such period shall initially be estimated to be equal to $4,000,000). Thereafter, the Advisory Fee for each subsequent 12-month period shall
be paid in advance on the first business day of January in each year, beginning on January 1, 2011. 
 (c) The Advisory Fee
paid on the relevant payment date for each relevant period shall be based on management’s then most current estimate of the projected EBITDA Amount for such period (or, in the case of the Advisory Fee paid on the Closing Date, based on the
fixed amount of $4,000,000). Following the availability of audited financial statements for such period, the Companies shall recalculate the EBITDA Amount and the Advisory Fee on the basis of such actual results, and based on such recalculation,
(A) if the applicable recalculated Advisory Fee is more than the Advisory Fee previously paid by the Companies to Blackstone in respect of such period, the Companies shall pay to Blackstone the difference between such

  
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amounts and (B) if the applicable recalculated Advisory Fee is less than the Advisory Fee previously paid by the Companies to Blackstone in respect of such period, then Blackstone shall pay
to the Companies the difference between such recalculated Advisory Fee and the Advisory Fee actually received from the Companies in respect of such period. Any payment required by the preceding sentence shall be paid by the Companies or Blackstone,
as applicable, no later than two business days following the determination of the amount of such payment. 
 (d) To the extent
the Companies cannot pay, or cause to be paid, the Advisory Fee for any reason, including by reason of any prohibition on such payment pursuant to any applicable law or the terms of any debt financing of the Companies or their subsidiaries, the
payment by the Companies or any of their subsidiaries to Blackstone of the accrued and payable Advisory Fee will be deferred and will be payable immediately on the earlier of (i) the first date on which the payment of such deferred Advisory Fee
is no longer prohibited under any contract applicable to the Companies or their subsidiaries, as applicable, is otherwise able to make such payment, or cause such payment to be made and (ii) total or partial liquidation, dissolution or winding
up of the Companies. Notwithstanding anything to the contrary herein, under any applicable law or under any contract applicable to the Companies or their subsidiaries, any forbearance of collection of the Advisory Fee by Blackstone shall not be
deemed to be a subordination of such payments to any other person, entity or creditor of the Companies or their subsidiaries. Any such forbearance shall be at Blackstone’s sole option and discretion and shall in no way impair Blackstone’s
right to collect such payments. Any installment of the Advisory Fee not paid on the scheduled due date will bear interest, payable in cash when the underlying installment is paid, at an annual rate of 10%, compounded quarterly, from the date due
until paid. 
 (e) Upon the occurrence of (i) a change of control, (ii) a sale of all or substantially all of the
assets of the Companies or (iii) an initial public offering of the equity of the Companies, their parent, or their respective successors (or at any time thereafter) (a “Trigger Event”), the Companies or their
successors will, on a joint and several basis, pay or cause to be paid to Blackstone a “Milestone Payment” with respect to such Trigger Event. The Milestone Payment will be equal to the present value of all Advisory
Fee payments that, absent the occurrence of the Trigger Event, would otherwise have accrued and been payable through the tenth anniversary of the Closing Date, based on the continued payment of a Advisory Fee in an amount equal to the then
applicable estimate for the Advisory Fee for the fiscal year of the Company in which the Trigger Event occurs, discounted at a rate equal to the yield to maturity on the close of business on the second business day immediately preceding the date the
Milestone Payment is payable of the class of outstanding U.S. government bonds having a final maturity closest to such tenth anniversary date.  
 (f) To the extent the Companies do not pay, or cause to be paid, any portion of the Milestone Payment by reason of any prohibition on such payment pursuant to any applicable law, the terms of any
agreement or indenture governing indebtedness of the Companies or their subsidiaries, any unpaid portion of the Milestone Payment shall be paid to Blackstone immediately on the earlier of (i) the first date on which the payment of such unpaid
amount is no longer prohibited under any such agreement or indenture applicable to the Companies and the Companies or their subsidiaries, as applicable, is otherwise able to make such payment, or cause such payment to be made and (ii) total or
partial liquidation, dissolution or winding up of the Companies. Notwithstanding anything to the contrary herein, under any applicable law or under any contract applicable to the Companies or their subsidiaries, any forbearance of collection of the
Milestone Fee by Blackstone shall not be deemed to be a subordination of such payments to any other person, entity or creditor of the Companies or their subsidiaries. Any such forbearance shall be at Blackstone’s sole option and discretion and
shall in no way impair Blackstone’s right to collect such payments. Any portion of the Milestone Payment not paid on the scheduled due date shall bear interest at an annual rate equal to 10% per annum, compounded quarterly, from the date
due until paid. 

  
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 (g) Any payments made to Blackstone by the Companies pursuant to this Section 3, and
any post-payment adjustments in respect thereof, shall be paid to (or, in the case of post-payment adjustments owed to the Companies, shall be paid by), Blackstone in the following manner: (i) 90.1% of any such payments shall be payable to (or
refunded by, as applicable) BMP and (ii) 9.9% of any such payments shall be payable to (or refunded by, as applicable) BREP (such percentage for each of BMP and BREP, their “Pro Rata Amount”). 

SECTION 4. Reimbursements. In addition to the fees payable pursuant to this Agreement, the Companies will pay, or
cause to be paid, directly, or reimburse Blackstone and its affiliates for, their respective Out-of-Pocket Expenses (as defined below). For the purposes of this Agreement, the term “Out-of-Pocket Expenses” means the
out-of-pocket costs and expenses incurred by Blackstone and its affiliates in connection with the Services or other services provided by them under this Agreement, or otherwise incurred by Blackstone or its affiliates from time to time in the future
in connection with their ownership (such as complying with reporting requirements of the Securities and Exchange Commission) or subsequent direct or indirect sale or transfer of capital stock of the Companies or their respective successors,
including, without limitation, (a) fees and disbursements of any independent professionals and organizations, including independent accountants, outside legal counsel or consultants, retained by Blackstone or any of its affiliates,
(b) costs of any outside services or independent contractors such as financial printers, couriers, business publications, on-line financial services or similar services, retained or used by Blackstone or any of its affiliates, and
(c) transportation, per diem costs, word processing expenses or any similar expense not associated with Blackstone or its affiliates’ ordinary operations. All payments or reimbursements for Out-of-Pocket Expenses will be made by wire
transfer in same-day funds promptly upon or as soon as practicable following request for payment or reimbursement in accordance with this Agreement, to the bank account indicated to the Companies by the relevant payee. 

SECTION 5. Indemnification. The Companies will, as primary obligors, indemnify and hold harmless Blackstone, its
affiliates and their respective partners (both general and limited), members (both managing and otherwise), officers, directors, employees, agents and representatives (each such person being an “Indemnified Party”) from and
against any and all actions, suits, investigations, losses, claims, damages and liabilities, including in connection with seeking indemnification, whether joint or several (the “Liabilities”), related to, arising out of or in
connection with the Transactions, the Services or other services contemplated by this Agreement or the engagement of Blackstone pursuant to, and the performance by Blackstone of the Services or other services contemplated by, this Agreement, whether
or not pending or threatened, whether or not an Indemnified Party is a party, whether or not resulting in any liability and whether or not such action, claim, suit, investigation or proceeding is initiated or brought by the Companies. The Companies
will reimburse any Indemnified Party for all reasonable costs and expenses (including reasonable attorneys’ fees and expenses and any other litigation-related expenses) as they are incurred in connection with investigating, preparing, pursuing,
defending or assisting in the defense of any action, claim, suit, investigation or proceeding for which the Indemnified Party would be entitled to indemnification under the terms of the previous sentence, or any action or proceeding arising
therefrom, whether or not such Indemnified Party is a party thereto. The Companies agree that they will not, without the prior written consent of the Indemnified Party, settle, compromise or consent to the entry of any judgment in any pending or
threatened claim, action or proceeding relating to the matters contemplated hereby (if any Indemnified Party is a party thereto or has been threatened to be made a party thereto) unless such settlement, compromise or consent includes an
unconditional release of the Indemnified Party from all liability, without future obligation or prohibition on the part of the Indemnified Party, arising or that may arise out of such claim, action or proceeding, and does not contain an admission of
guilt or liability on the part of the Indemnified Party. The Companies will not be liable under the foregoing indemnification provision with respect to any particular loss, claim, damage, liability, cost or expense of an Indemnified Party that is

  
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determined by a court, in a final judgment from which no further appeal may be taken, to have resulted solely from the gross negligence or willful misconduct of such Indemnified Party. The
attorneys’ fees and other expenses of an Indemnified Party shall be paid by the Companies as they are incurred upon receipt, in each case, of an undertaking by or on behalf of the Indemnified Party to repay such amounts if it is finally
judicially determined that the Liabilities in question resulted solely from the gross negligence or willful misconduct of such Indemnified Party. 
 The rights of an Indemnified Party to indemnification hereunder will be in addition to any other rights and remedies any such person may have under any other agreement or instrument to which each
Indemnified Party is or becomes a party or is or otherwise becomes a beneficiary or under any law or regulation. 
 SECTION
7. Accuracy of Information. The Companies shall furnish or cause to be furnished to Blackstone such information as Blackstone believes reasonably appropriate to rendering the Services and other services contemplated by this Agreement and
to comply with the Securities and Exchange Commission or other legal requirements relating to the beneficial ownership by Blackstone or its affiliates and their respective members, officers and employees of equity securities of the Companies (all
such information so furnished, the “Information”). The Companies recognize and confirm that Blackstone (a) will use and rely primarily on the Information and on information available from generally recognized public
sources in performing the Services and other services contemplated by this Agreement without having independently verified the same, (b) does not assume responsibility for the accuracy or completeness of the Information and such other
information and (c) is entitled to rely upon the Information without independent verification. 
 SECTION 8.
Term. This Agreement will become effective as of the Closing and (except as otherwise provided herein) will continue until the “Termination Date,” which is the earlier of (i) the tenth
anniversary of the original date hereof and (ii) such earlier date as the Companies and Blackstone may mutually agree upon in writing; provided, that (x) the occurrence of the Termination Date will not affect the obligations of the
Companies to pay, or cause to be paid, any amounts accrued but not yet paid as of such date, (y) Section 4 hereof will remain in effect after the Termination Date with respect to Out-of-Pocket Expenses that were incurred prior to or within
a reasonable period of time after the Termination Date, but which have not been paid to Blackstone or its affiliates in accordance with Section 4 hereof, and (z) the provisions of Sections 3(d), 3(f), 5, 6, 7, 8 and 9 hereof will survive
after the Termination Date. The Advisory Fee will accrue and be payable with respect to the entire fiscal year of the Companies in which the Termination Date occurs, except as otherwise provided in Section 3(e). 

SECTION 9. Disclaimer, Opportunities, Release and Limitation of Liability. 

(a) Disclaimer; Standard of Care. Blackstone makes no representations or warranties, express or implied, in respect of the Services
to be provided hereunder. In no event shall Blackstone or any Indemnified Party be liable to the Companies or any of their affiliates for any act, alleged act, omission or alleged omission that does not constitute gross negligence or willful
misconduct of Blackstone as determined by a final, non-appealable determination of a court of competent jurisdiction. 
 (b)
Freedom to Pursue Opportunities. In recognition of the fact that Blackstone and its affiliates (i) currently have, and will in the future have or will consider acquiring, investments in other enterprises that engage or may engage in the
same or similar activities or lines of business as the Companies or which the Companies may be interested in acquiring (collectively, “Competing Activities”), (ii) may serve as an advisor, a director or in some other
capacity in connection with one or more Competing Activities, and (iii) and in further recognition of the fact that Blackstone and its affiliates have myriad duties to various 

  
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investors and partners, and in further recognition of the benefits to be derived by the Companies hereunder and the difficulties which may confront any advisor who desires and endeavors fully to
satisfy such advisor’s duties in determining the full scope of such duties in any particular situation, the provisions of this Section 8(b) are set forth to regulate, define and guide the conduct of certain affairs of the Companies as they
may involve Blackstone and its affiliates. Except as Blackstone may otherwise agree in writing after the date hereof: 
 (i) Blackstone and its affiliates shall have the right: (A) to directly or indirectly engage in any business (including, without limitation, any business activities or lines of business that are the
same as or similar to those pursued by, or competitive with, the Companies and their subsidiaries); (B) to directly or indirectly do business with any client or customer of the Companies and their subsidiaries; (C) to take any other action
that Blackstone believes in good faith is necessary to or appropriate to fulfill its obligations as described in the first sentence of this Section 8(b); and (D) not to present potential transactions, matters or business opportunities to
the Companies or any of their subsidiaries, and to pursue, directly or indirectly, any such opportunity for themselves, and to direct any such opportunity to another person. 

(ii) Blackstone and its affiliates shall have no duty (contractual or otherwise) to communicate or present any corporate
opportunities to the Companies or any of their affiliates or to refrain from any actions specified in Section 8(b)(i) hereof, and the Companies, on their own behalf and on behalf of their affiliates, hereby irrevocably waives any right to
require Blackstone or any of their affiliates to act in a manner inconsistent with the provisions of this Section 8(b). 
 (iii) Neither Blackstone nor any of its affiliates shall be liable to the Companies or any of their affiliates for breach of any duty (contractual or otherwise) by reason of any activities or omissions of
the types referred to in this Section 8(b) or of any such person’s participation therein. 
 (c) Release. The
Companies hereby irrevocably and unconditionally release and forever discharge Blackstone and its affiliates and their respective partners (both general and limited), members (both managing and otherwise), officers, directors, employees, agents and
representatives from any and all liabilities, claims and causes of action related to, arising out of or in connection with the Transactions, the Services or other services contemplated by this Agreement or the engagement of Blackstone pursuant to,
and the performance by Blackstone of the Services or other services contemplated by, this Agreement that the Companies may have, or may claim to have, on or after the date hereof, or otherwise as a result of engaging in Competing Activities, except
with respect to any act or omission that constitutes gross negligence or willful misconduct as determined by a final, non-appealable determination of a court of competent jurisdiction. 

(d) Limitation of Liability. In no event will Blackstone or any Indemnified Party be liable to the Companies or any of their
affiliates (i) for any indirect, special, incidental or consequential damages, including, without limitation, lost profits or savings, whether or not such damages are foreseeable, or for any third-party claims (whether based in contract, tort
or otherwise), related to, arising out of or in connection with the Transactions, the Services or other services contemplated by this Agreement or the engagement of Blackstone pursuant to, and the performance by Blackstone of the Services or other
services contemplated by, this Agreement, or otherwise as a result of engaging in Competing Activities, that the Companies may have, or may claim to have, on or after the date hereof, except with respect to any act or omission that constitutes gross
negligence or willful misconduct as determined by a final, non-appealable determination of a court of competent jurisdiction or (ii) for an amount in excess of the fees actually received by Blackstone hereunder. 

  
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 SECTION 10. Miscellaneous. 

(a) No amendment or waiver of any provision of this Agreement, or consent to any departure by any party hereto from any such provision,
will be effective unless it is in writing and signed by each of the parties hereto. Any amendment, waiver or consent will be effective only in the specific instance and for the specific purpose for which given. The waiver by any party of any breach
of this Agreement will not operate as or be construed to be a waiver by such party of any subsequent breach. 
 (b) Any notices
or other communications required or permitted hereunder shall be made in writing and will be sufficiently given if delivered personally or sent by facsimile with confirmed receipt, or by overnight courier, addressed as follows or to such other
address of which the parties may have given written notice: 
 if to Blackstone: 

c/o The Blackstone Group L.P. 
 345 Park Avenue 
 New York, New York 10154 

Attention: Peter Wallace 
 Facsimile: (212) 583-5710 
 if to the Companies: 

c/o SeaWorld Parks & Entertainment, Inc. 

9205 S. Park Center Loop, Ste 400 
 Orlando, FL 32819 
 Attention: Chief Legal Officer 

Unless otherwise specified herein, such notices or other communications will be deemed received (i) on the date delivered, if delivered personally
or sent by facsimile with confirmed receipt, and (ii) one business day after being sent by overnight courier. 
 (c) This
Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof, and supersedes all previous oral and written (and all contemporaneous oral) negotiations, commitments, agreements and understandings relating
hereto. 
 (d) This Agreement will be governed by, and construed in accordance with, the laws of the State of Delaware.

 (e) Each party to this Agreement, by its execution hereof, (i) hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in Wilmington, Delaware for the purpose of any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or
relating to the subject matter hereof, (ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to allow any of its subsidiaries to assert, by way of motion, as a defense or otherwise, in any
such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that any such proceeding brought in one of the above-named courts is
improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (iii) hereby agrees not to commence or maintain any action, 

  
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claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof or
thereof other than before one of the above-named courts nor to make any motion or take any other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort or otherwise),
inquiry, proceeding or investigation to any court other than one of the above-named courts whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any
litigation in connection with which it may assert indemnification rights set forth in this agreement, the court in which such litigation is being heard shall be deemed to be included in clause (i) above. Notwithstanding the foregoing, any party
to this Agreement may commence and maintain an action to enforce a judgment of any of the above-named courts in any court of competent jurisdiction. Each party hereto hereby consents to service of process in any such proceeding in any manner
permitted by Delaware law, and agrees that service of process by registered or certified mail, return receipt requested, at its address specified pursuant to Section 9(b) hereof is reasonably calculated to give actual notice. 

(f) Neither this Agreement nor any of the rights or obligations hereunder may be assigned by the Companies without the prior written
consent of Blackstone; provided, however, that Blackstone may assign or transfer its duties or interests hereunder to any of its affiliates at the sole discretion of Blackstone. Subject to the foregoing, the provisions of this Agreement will be
binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Subject to the next sentence, no person or party other than the parties hereto and their respective successors or permitted assigns is intended
to be a beneficiary of this Agreement. The parties acknowledge and agree that Blackstone and its affiliates and their respective partners (both general and limited), members (both managing and otherwise), officers, directors, employees, agents and
representatives are intended to be third-party beneficiaries under Section 5 hereof. 
 (g) This Agreement may be executed
by one or more parties to this Agreement on any number of separate counterparts (including by facsimile), and all of said counterparts taken together will be deemed to constitute one and the same instrument. 

(h) Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction will, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction will not invalidate or render unenforceable such provision in any other
jurisdiction. 
 (i) Each payment made by the Companies pursuant to this Agreement shall be paid by wire transfer of immediately
available federal funds to such account or accounts as specified by Blackstone to the Company prior to such payment. 

SECTION 11. Joint and Several Liability. All references herein to any liability or obligation of the Companies shall
be deemed to be a liability or obligation of SWPE, SeaWorld Parks & Entertainment LLC and Sea World LLC, which entities shall be jointly and severally liable to discharge such liabilities and/or perform such obligations. 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this
Transaction and Advisory Fee Agreement as of the date first written above. 
  

					
	BLACKSTONE MANAGEMENT PARTNERS V L.L.C.
		
	By:	 	  
		 	Name:
		 	Title:
	
	BLACKSTONE REAL ESTATE ADVISORS VI L.P.
		
	By:	 	Blackstone Real Estate Advisors VI L.P., its
general partner
		
	By:	 	 
		 	Name:
		 	Title:

  
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	SEAWORLD PARKS & ENTERTAINMENT, INC.
		
	By:	 	  
		 	Name:
		 	Title:
	
	SEAWORLD PARKS & ENTERTAINMENT LLC
		
	By:	 	  
		 	Name:
		 	Title:
	
	SEA WORLD LLC
		
	By:	 	  
		 	Name:
		 	Title:

  
 11EX-10.33

 Exhibit 10.33 
 January 17, 2012 
 Mr. James M. Heaney 

905 Jasmine Street 
 Celebration Florida 34747

 Dear Jim, 
 This letter will confirm
our offer for the position of Chief Finance Officer for SeaWorld Parks & Entertainment (“SEA”). Included with this letter is a brief outline of your total compensation package. As plan sponsor, SeaWorld reserves the right to amend
or terminate any of the benefits outlined below. This document is intended as a summary of benefits and is not intended as a complete reference guide or substitute to official plan documents or summary plan descriptions. 

Base Compensation 
  

			
	Effective date:	  	1/23/12
		
	Base annual salary:	  	$300,000
		
	Monthly salary:	  	$25,000

 Equity 
 Your equity distribution is approximately 5% of the total pool with an estimated “at work” dollar value of $3,750,000. 
 Bonus 
 The SEA bonus plan is formula driven and incorporates key components tied to
company and individual performance. Because the bonus plan is formula driven, there is potential to increase the pool and conversely, if the company does not achieve the budgeted target, your payout potential lessens accordingly. 

If SEA achieves the budgeted EBITDA target, your bonus pool will be calculated and funded at 75% of your base salary (pro-rated for 2012). For the 2012
plan year (January 1 - December 31), the bonus specific plan details regarding targets and formulation calculations will be formally announced in the very near future. 
 Vacation 
 The SEA vacation schedule entitles you up to two weeks of vacation upon
employment. Our vacation plan is based upon years of service, as per below: 
 1 year     = Two weeks 

5 years   = Three weeks 
 10 years =
Four weeks 
 15 years = Five weeks 
 20
years = Six weeks 
 401K 

SEA offers a 401k plan with a variety of investment options. Currently our match rate is 100% on the first 1% of your salary deferral and 50% on each
percent thereafter, up to a total maximum of 6%. You will be eligible for participation in the plan after 30 days of employment. After two years of employment you will be 100% vested in the employer match. 

 Holidays 
 The 2012 SEA corporate holiday schedule is listed below. 
  

					
	HOLIDAYS-2012	  	DAY	  	DATE
	 New Year’s Day
	  	Monday	  	Jan. 2
	 Memorial Day
	  	Monday	  	May 28
	 Independence Day
	  	Wednesday	  	July 4
	 Labor Day
	  	Monday	  	Sept. 3
	 Thanksgiving
	  	Thursday	  	Nov. 22
	 Day after Thanksgiving
	  	Friday	  	Nov. 23
	 Christmas Holidays
	  	Monday	  	Dec. 24
	  	Tuesday	  	Dec. 25
	 New Year’s Eve
	  	Monday	  	Dec. 31st

 In addition to the above 9 designated holidays, Team Members are eligible for four (4) “Floating Holidays”
which can be used at the employees’ personal discretion. Floating Holidays must be scheduled and approved in advance. Team Members will not be paid for unused Floating Holidays. In addition, Floating Holidays must be used within the calendar
year and cannot be carried over for subsequent years. 
 SEA Employee Complimentary Park Passes 

Annually, you will receive 12 complimentary park passes. Each pass is good for a single visit; passes can be used at any of our SEA parks with the
exception of Discovery Cove. 
 In addition, as a corporate employee you will receive a Corporate Executive Card which will allow you and an
unlimited number of guests to complimentary enter any of SEA’s parks, excluding Discovery Cove. Please note you must be present and accompany your guests to use this card. You will also receive complimentary parking and a 30% discount on park
food and merchandise. 
 Health Insurance 
 You and your eligible dependents will be eligible to participate in the company’s Health & Welfare plans effective the first of the month following your date of hire. We offer the
choice of two types of medical plans which include an HMO plan and a Preferred Provider Option (PRO) plan, all administered by AETNA. All medical plans include a prescription drug benefit. The HMO and PPO plans require an employee contribution
through a payroll deduction. We also offer a Dental plan with options ($1000/$3000 Annual maximum) and a vision plan. 
 The current
(2012) monthly contribution schedule is as follows: 
  

																	
	 	  	HMO	 	  	PPO	 	  	Dental	 	  	Vision	 
	 Employee
	  	$	70	  	  	$	174	  	  	$	11	  	  	$	4.92	  
	 Emp + Sp
	  	$	149	  	  	$	365	  	  	$	24	  	  	$	9.82	  
	 Emp + Child
	  	$	128	  	  	$	313	  	  	$	21	  	  	$	10.51	  
	 Family
	  	$	218	  	  	$	539	  	  	$	33	  	  	$	16.80	  

  
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 Life Insurance 
 You will receive two times your annual salary in company paid term life insurance as well as $10,000 company paid life insurance for your spouse and $5,000 for each eligible child, if applicable. Our
benefit plan also includes the option to purchase supplemental life insurance for yourself (up to 3x your annual salary) as well as supplemental life insurance for your eligible dependents. 
 Sick Pay 
 Upon your first day of employment you will be eligible for three months of
sick pay, payable at 100% of your base salary. There is no carry over of sick time; once you have reached five years of credited service, your annual sick pay will be up to six months, payable at 100% of your base salary. 

Disability Benefits 
 The company
provides up to 26 weeks of short term disability (STD) coverage annually, should you become disabled. You will receive 60% of your base pay. 

In addition, you may elect to participate in the Long Term Disability (LTD) plan. The plan pays up to 60% of your monthly salary should you become
disabled. If you elect to participate, the company will pay 20% of the cost of the premium and you will pay 80% of the cost through a payroll deduction. Premium costs are based your annual salary amount. 

This offer of employment is contingent upon successfully completing and passing a reference check of your current/last employer and a background check
(educational and criminal). You must also successfully pass a drug screen for controlled substances. On average, results for both the drug test screen and background check can take approximately 5-7 business days. Once we receive word of
satisfactory results, your start date will be determined. 
 SEA uses a Dispute Resolution Program (“DRP”) for all employment-related
disputes, the last step of which is final and binding arbitration. The DRP will be a term and condition of your employment and your exclusive remedy for any employment claims you may have. By accepting employment with SEA you agree to submit all
claims to the DRP. 
 Thank you again for your consideration of employment with SeaWorld Parks & Entertainment. We look forward to
having you join our team! 
 Best Regards, 

	
	
	/s/ David L. Hammer
	David L. Hammer
	Chief Administrative Officer

 Accepted: 
  

					
	/s/ Jim Heaney	 	 	 	1/17/12
	Jim Heaney	 		 	Date

  

  
 3

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