Document:

Document

Exhibit 10.1

AMENDMENT No. 5, dated as of February 7, 2022 (this “Amendment”), to the Amended and Restated Credit Agreement dated as of April 13, 2017, amended by Amendment No. 1, dated as of March 14, 2018 and Amendment No. 2, dated as of April 27, 2020 and Amendment No. 3, dated as of September 28, 2020 and Amendment No. 4, dated as of December 15, 2021, among CEDAR FAIR, L.P., a Delaware limited partnership (the “U.S. Borrower”), MAGNUM MANAGEMENT CORPORATION, an Ohio corporation (“MMC”), MILLENNIUM OPERATIONS LLC, a Delaware limited liability company (“MML” and, together with MMC, the “U.S. Co-Borrowers”), CANADA’S WONDERLAND COMPANY, a Nova Scotia unlimited company (the “Canadian Borrower” and, collectively with the U.S. Borrower and the U.S. Co-Borrowers, the “Borrowers” and, individually, a “Borrower”), the several banks and other financial institutions or entities from time to time parties to the Credit Agreement (the “Lenders”), the Issuing Lenders party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent (the “Administrative Agent”) and as collateral agent (as amended, restated, modified and supplemented from time to time prior to the date hereof, the “Existing Credit Agreement”); capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the Existing Credit Agreement as amended by this Amendment (the “Amended Credit Agreement”).
WHEREAS, the Borrowers desire to amend the Existing Credit Agreement on the terms set forth herein;
WHEREAS, Section 11.1 of the Existing Credit Agreement provides that the relevant Loan Parties and the Required Lenders may amend the Existing Credit Agreement for certain purposes; 
NOW, THEREFORE, in consideration of the premises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
Section 1.Amendment.  
(a)Section 1.1 of the Existing Credit agreement is hereby amended as follows:

(i)the following definition shall be added in the appropriate alphabetical order

“Amendment No. 5”: means Amendment No. 5 to this Agreement, dated as of February 7, 2022, by and among the Loan Parties, the Administrative Agent and the Lenders party thereto.

(ii)the definition of “Loan Documents” set forth therein is hereby amended and restated in its entirety as follows:

“Loan Documents”:  this Agreement, the Security Documents, the Applications, the Notes, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No. 4 and Amendment No. 5.

(b) Section 8.10 of the Existing Credit Agreement is hereby amended by replacing the words “$150,000,000” with the words:

“$400,000,000”.

Section 2.Conditions to the Amendment No. 5 Effective Date.

(a)This Amendment shall become effective on the date (such date, if any, the “Amendment No. 5 Effective Date”) that the Administrative Agent shall have received executed signature pages hereto from each Loan Party and Lenders constituting the Required Lenders.

(b)The Administrative Agent shall have received, to the extent invoiced two (2) Business Days prior to the Amendment No. 5 Effective Date, all other amounts due and payable pursuant to the Loan Documents on or prior to the Amendment No. 5 Effective Date, including reimbursement or payment of all reasonable and documented out-of-pocket expenses (including reasonable fees, charges and disbursements of Cahill Gordon & Reindel LLP) required to be reimbursed or paid by the Loan Parties hereunder or under any Loan Document.
Section 3.Representation and Warranties. The U.S. Borrower hereby represents and warrants that as of the Amendment No. 5 Effective Date, immediately after giving effect to the transactions to occur on the Amendment No. 5 Effective Date, (i) no Event of Default or Default has occurred and is continuing under the Amended Credit Agreement and (ii) the representations and warranties of the U.S. Borrower and each Loan Party contained in the Amended Credit Agreement and each other Loan Document are true and correct in all material respects as of the Amendment No. 5 Effective Date; provided that to the extent that such representations and warranties specifically relate to an earlier date, they shall be true and correct in all material respects as of such earlier date; provided, further, that any representation and warranty that is qualified as to “materiality,” “Material Adverse Effect” or similar language shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates.
Section 4.Loan Party Acknowledgment.  Each Loan Party hereby acknowledges that it has reviewed the terms and provisions of the Existing Credit Agreement and this Amendment and consents to the amendment of the Existing Credit Agreement effected pursuant to this Amendment and the Amended Credit Agreement and acknowledges and agrees to the terms of this Amendment. Each Loan Party acknowledges and agrees that any of the Loan Documents to which it is a party or otherwise bound shall continue in full force and effect and that all of its obligations thereunder shall be valid and enforceable and shall not be impaired or limited by the execution or effectiveness of this Amendment and the Amended Credit Agreement.
Section 5.Reference to and effect on the Existing Credit Agreement and the Other Loan Documents.  On and after the Amendment No. 5 Effective Date, each reference in the Amended Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import referring to the Existing Credit Agreement, and each reference in the other Loan Documents to the “Credit Agreement,” “thereunder,” “thereof,” “therein” or words of like import referring to the Existing Credit Agreement shall mean and be a reference to the Amended Credit Agreement reflecting the amendments set forth herein.  Except as specifically amended by this Amendment, the Existing Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed and the execution, delivery and performance of this Amendment shall not constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of any Agent or Lender under, the Amended Credit Agreement or any of the other Loan Documents.  This Amendment and the Amended Credit Agreement do not constitute a novation, satisfaction, payment, reborrowing or termination of the Indebtedness and Obligations existing under the Existing Credit Agreement.
Section 6.Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed to be an original, but all of which when taken together shall constitute a single instrument.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile or any other electronic transmission shall be effective as delivery of a manually executed counterpart hereof. 
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The words “executed,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Amendment or any document to be signed in connection with this Amendment and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. For purposes of this Section 6, “Electronic Signature” means an electronic symbol or process attached to a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record.
Section 7.Governing Law, Submission to Jurisdiction and Waiver of Jury Trial.  The provisions of Sections 11.11 (Governing Law), 11.12 (Submission to Jurisdiction; Waivers) and 11.16 (Waiver of Jury Trial) of the Amended Credit Agreement shall apply with like effect to this Amendment.  This Amendment is a Loan Document as defined in and for all purposes of the Amended Credit Agreement and the other Loan Documents.
Section 8.Severability.  If any provision of this Amendment is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of the remaining provisions of this Amendment shall not be affected or impaired thereby.  The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.
Section 9.Headings.  The headings of this Amendment are for purposes of reference only and shall not limit or otherwise affect the meaning hereof.
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first above written.
CEDAR FAIR, L.P.

By:    Cedar Fair Management Inc., its General Partner
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
MAGNUM MANAGEMENT CORPORATION
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
MILLENNIUM OPERATIONS LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
CANADA’S WONDERLAND COMPANY
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Secretary and Chief Financial Officer
CAROWINDS LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer

[Signature Page to Cedar Fair Amendment No. 5]

CEDAR FAIR SOUTHWEST INC.
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
CEDAR POINT PARK LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
DORNEY PARK LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
GEAUGA LAKE LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
KINGS DOMINION LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
KINGS ISLAND COMPANY
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
[Signature Page to Cedar Fair Amendment No. 5]

KINGS ISLAND PARK LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
KNOTT’S BERRY FARM LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
MICHIGAN’S ADVENTURE, INC.
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
MICHIGAN’S ADVENTURE PARK LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
VALLEYFAIR LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer
WONDERLAND COMPANY INC.
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer

[Signature Page to Cedar Fair Amendment No. 5]

WORLDS OF FUN LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer 
CALIFORNIA’S GREAT AMERICA LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer 
GALVESTON WATERPARK, LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer 
NEW BRAUNFELS WATERPARK, LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer 
SAWMILL CREEK LLC
By:    /s/ Brian C. Witherow    
    Name:    Brian C. Witherow
    Title:    Executive Vice President and Chief Financial Officer 

[Signature Page to Cedar Fair Amendment No. 5]

JPMORGAN CHASE BANK, N.A., as Administrative Agent and a Lender
By:    /s/ Matthew Cheung    
    Name:  Matthew Cheung
    Title:    Vice President

[Signature Page to Cedar Fair Amendment No. 5]

The undersigned hereby irrevocably and unconditionally consents to this Amendment.

KEYBANK NATIONAL ASSOCIATION

By:    /s/ Lynnette Ritter    
Name:  Lynnette Ritter
Title:    SVP

[Signature Page to Cedar Fair Amendment No. 5]

The undersigned hereby irrevocably and unconditionally consents to this Amendment.

FIFTH THIRD BANK, NATIONAL ASSOCIATION

By:    /s/ Knight D. Kieffer     
Name:  Knight D. Kieffer
Title:    Managing Director
[Signature Page to Cedar Fair Amendment No. 5]

The undersigned hereby irrevocably and unconditionally consents to this Amendment.

            UBS AG, Stamford Branch                           ,
       Name of Institution

By:    /s/ Houssem Daly    
Name:  Houssem Daly
Title:    Director

By:    /s/ Dionne Robinson    
Name:  Dionne Robinson
Title:    Associate Director

[Signature Page to Cedar Fair Amendment No. 5]

The undersigned hereby irrevocably and unconditionally consents to this Amendment.

The Huntington National Bank,

By:    /s/ Mike Kelly    
Name:  Mike Kelly
Title:    V.P.

[Signature Page to Cedar Fair Amendment No. 5]

The undersigned hereby irrevocably and unconditionally consents to this Amendment.

WELLS FARGO BANK, N.A.,

By:    /s/ Evan Waschitz    
Name:  Evan Waschitz
Title:    Director

[Signature Page to Cedar Fair Amendment No. 5]

The undersigned hereby irrevocably and unconditionally consents to this Amendment.

COMERICA BANK

By:    /s/ Cynthia B. Jones    
Name:  Cynthia B. Jones
Title:    Vice President
[Signature Page to Cedar Fair Amendment No. 5]Document

Exhibit 10.2

CEDAR FAIR, L.P. 2016 OMNIBUS INCENTIVE PLAN
RESTRICTED UNIT AWARD DECLARATION

This Restricted Unit Award Declaration (“Declaration”) is made pursuant to the terms and conditions of the Cedar Fair, L.P. 2016 Omnibus Incentive Plan (the “Plan”), including (without limitation) Article VIII, the provisions of which are incorporated into this Declaration by reference. Capitalized terms used herein shall have the meanings ascribed to them in the Plan, unless indicated otherwise.

1.Restricted Unit Award In General. Participant’s Restricted Unit Award (the “Award”) is outlined in the attached Notice of Restricted Unit Award of Cedar Fair, L.P. (the “Notice”) and is subject to Participant’s continuous employment by the Company or an Affiliate throughout each of the Restricted Periods that commence on the Grant/Award Date and end on each of the Vesting Dates specified under the heading “Vesting Schedule” in the Notice (individually, a “Restricted Period” and, collectively, the “Restricted Periods”). Distribution Equivalents on the Restricted Units shall be accumulated until the lapse of the Restricted Period, if and to the extent the Company makes distributions on its Units during the Restricted Period, and shall be paid pursuant to the provisions of Section 3 hereof in the same form as accrued. During the Restricted Period, the Participant shall have the right to vote such Restricted Units, but the Participant shall not have the right to receive any payments or distributions with respect to such Restricted Units, and the Participant may not sell, transfer, pledge, or assign such Restricted Units.  

2.Forfeiture. The Restricted Units shall be automatically forfeited if the Participant ceases to be employed by the Company or an Affiliate at any time during the Restricted Period, except as provided in Sections 3 and 5 of this Declaration.

3.Lapse of Restriction. The employment restriction on the Restricted Units shall lapse upon the Participant’s completion of continuous employment throughout the Restricted Period, and the Restricted Units shall thereupon become unrestricted Units. All Distribution Equivalents on the Restricted Units accumulated during the Restricted Period shall be paid in a lump sum promptly upon the lapse of the Restricted Period (but in any case no later than two and one-half (2-1/2) months after the end of the Participant’s employing entity’s fiscal year that coincides with or immediately follows the end of the Restricted Period).

If a Participant dies or incurs a Disability during employment and prior to the end of the Restricted Period that results in a Separation from Service, the employment restriction on the Restricted Units shall lapse, the Restricted Units shall thereupon become unrestricted Units, and all Distribution Equivalents accumulated through the date the restrictions lapse shall be paid in a lump sum to the Participant (or the Participant’s estate) within ninety (90) days of the Participant’s death or Disability; provided that if the ninety- (90-) day period begins in one calendar year and ends in another, neither the Participant nor any beneficiary of a Participant shall have the right to designate the calendar year of payment.

If a Participant incurs a Separation from Service due to Retirement prior to the expiration of the Restricted Period, the employment restriction on the Restricted Units shall lapse, the Restricted Units shall thereupon become unrestricted Units, and all Distribution Equivalents accumulated through the date the restrictions lapse shall be paid in a lump sum to the Participant within ninety (90) days of the date of the Participant’s Separation from Service due to Retirement; provided that any payment to a Specified Employee upon a Retirement (which is a Separation from Service) that is “nonqualified deferred compensation” within the meaning of Section 409A shall not be paid until the thirty- (30-) day period commencing with the first day of the seventh month following the month of the Specified Employee’s Separation from Service (provided that if such thirty- (30-) day period begins in one calendar year and ends in another, the Specified Employee shall not have the right to designate the calendar year of payment).

Except in the case of death, Disability, and Retirement, and as permitted by Section 409A and the Plan (including Section 13.1(b) of the Plan and Section 5 hereof), no lapse of restrictions or payment shall be accelerated. 

4.Tax Matters and Withholding. To the extent permitted by applicable securities laws, the Company, the Participant’s employer or their agent(s) shall withhold all required local, state, federal, and other taxes and any other amount required to be withheld by any governmental authority or law from the Units issued pursuant to the Award, 

and Units issued hereunder shall be retained by, surrendered back to or reacquired by the Company or an Affiliate as necessary in order to accomplish the foregoing, with the number of unrestricted Units to be delivered after the expiration of the Restricted Period being reduced accordingly. The number of Units to be withheld shall have a Fair Market Value equal to the amount required to be withheld as of the date that the amount is withheld. The Participant will execute such other documentation as may be necessary or appropriate to accomplish the foregoing. Prior to such withholding, in accordance with procedures established by or agreement of the Committee or the Participant’s employer, the Participant may arrange to pay all applicable withholdings in cash on the due date of such withholdings. To the extent applicable law does not permit the withholding of Units, the Participant shall pay all applicable withholdings in cash on the due date of such withholdings.

5.Priority of Agreements.  In the event of a Change in Control (as such term is defined in the Plan), the terms of Section 13 of the Plan shall govern and control over any conflicting term of this Declaration. The change in control provisions of Section 4.2 of Participant’s employment agreement shall not apply to this Award and shall be superseded by this Declaration and Section 13.1(b) of the Plan.  Section 6.1(f) of the Participant’s employment agreement shall apply to this Award and shall govern and control over any conflicting term of this Declaration. Accordingly, if Participant is entitled to payments under Section 6.1(f) of such employment agreement, then, subject to the release provisions of such employment agreement, Participant shall become fully vested in any portion of this Award that is scheduled to vest within the eighteen- (18-) month period following Participant’s date of termination, Participant shall receive payments on each payment date as provided in this Declaration as if the Participant were employed by Cedar Fair on the relevant payment date and all such portions of this Award shall be paid or vest pursuant to the terms of this Declaration, but without regard to any continuing employment requirements or proration. Portions of this Award that are scheduled to vest (in whole or in part) after the eighteen- (18-) month period following the Participant’s date of termination as described above under Section 6.1(f) of the employment agreement, shall vest and be paid only in accordance with the terms of this Award and the terms of the Plan.

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IN WITNESS WHEREOF, Magnum Management Corporation, a subsidiary of Cedar Fair, L.P., has caused this Declaration to be executed by its duly authorized officer as approved by the Committee and the Participant has executed this Declaration as of the day and year indicated.

						
	 	MAGNUM MANAGEMENT CORPORATION

                            
By:  

Title:

Date:

In consideration for the Participant’s Restricted Unit Award for the [____ – ____] Restricted Periods described herein, Participant accepts the modifications made in this Declaration with respect to the treatment of this Award under Participant’s employment agreement with Cedar Fair.

						
	 	PARTICIPANT

                            
By:  

Title:

Date:

    

A copy of the Cedar Fair, L.P. 2016 Omnibus Incentive Plan Information Statement is available for review on the Cedar Fair Intranet link at http://cfnet/ under “Document Share”, and a copy of the most current Form 10-K is available for review at https://ir.cedarfair.com/overview/default.aspx#annual-reports.

Notice of Restricted Unit Award of Cedar Fair, L.P.

Company Name    

Plan
    
Participant Id    

Participant Name    

Participant Address    

Grant/Award Type    

Share Amount    

Grant/Award Date    

VESTING SCHEDULE
									
	
			
	Vesting Date	No. of Shares	Percent

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