Document:

EX-10.3

 Exhibit 10.3 

SEAWORLD ENTERTAINMENT, INC. 

OUTSIDE DIRECTOR COMPENSATION POLICY 

Adopted March 4, 2014 
 Amended
and Restated as of April 3, 2014 
 SeaWorld Entertainment, Inc. (the “Company”) believes that the granting of equity
and cash compensation to its members of the Board of Directors (the “Board,” and members of the Board, “Directors”) represents a powerful tool to attract, retain and reward Directors who are not employees of the
Company or The Blackstone Group L.P. (“Outside Directors”). This Outside Director Compensation Policy (this “Policy”) is intended to formalize the Company’s policy regarding cash compensation and grants of
equity to its Outside Directors. The cash compensation and equity grants described in this Policy will be paid or made, as applicable, automatically and without further action of the Board, to each Outside Director. Unless otherwise defined herein,
capitalized terms used in this Policy will have the meaning given such terms in the Company’s 2013 Omnibus Incentive Plan (the “Plan”). Outside Directors will be solely responsible for any tax obligations they incur as a result
of the equity and cash payments received under this Policy. 
  

	I.	CASH COMPENSATION. 

 A. Annual Fee. Subject to Section I.B.
below, the Company will pay each Outside Director an annual fee of $60,000 for serving on the Board (the “Annual Fee”). At the election of the Outside Director, the Annual Fee will be paid, in arrears, either (a) in twelve
equal installments on a monthly basis with each monthly payment paid on the last day of the applicable month or (b) in four equal installments on a quarterly basis with each quarterly payment paid on the last day of the applicable quarter. 

B. Annual Board Chairperson Fee. In lieu of the Annual Fee, the Company will pay the Outside Director who serves as the
Chairperson of the Board an annual fee of $200,000 for such service (the “Annual Board Chairperson Fee”). At the election of the Outside Director, the Annual Board Chairperson Fee will be paid, in arrears, either (a) in twelve
equal installments on a monthly basis with each monthly payment paid on the last day of the applicable month or (b) in four equal installments on a quarterly basis with each quarterly payment paid on the last day of the applicable quarter. 

C. Annual Committee Chairperson Fee. In addition to the Annual Fee or the Annual Board Chairperson Fee, as applicable,
the Company will pay each Outside Director who serves as the Chairperson of the Audit Committee, Compensation Committee or Nominating and Corporate Governance Committee of the Board the applicable annual fee set forth in the table below for such
service (the “Annual Committee Chairperson Fee”). At the election of the Outside Director, the Annual Committee Chairperson 

 
Fee will be paid, in arrears, either (a) in twelve equal installments on a monthly basis with each monthly payment paid on the last day of the applicable month or (b) in four equal
installments on a quarterly basis with each quarterly payment paid on the last day of the applicable quarter. 
  

					
	 Committee
	  	Annual Committee
Chairperson Fee	 
	 Audit Committee
	  	$	20,000	  
	 Compensation Committee
	  	$	10,000	  
	 Nominating and Corporate Governance
	  	$	10,000	  

 D. Committee Members. There are no additional fees for a non-Chairperson’s service
as a member of the Audit Committee, Compensation Committee or Nominating and Corporate Governance Committee of the Board. 

E. Meetings of the Board or Committees. There are no per meeting attendance fees for attending Board meetings or
meetings of the Audit Committee, Compensation Committee or Nominating and Corporate Governance Committee of the Board. 
 F.
Special Committees. In the event that the Board appoints any Outside Director to a special committee of the Board, the Board will determine the amount and terms of any fees payable to such Outside Director for service on such special
committee at the time of appointment. 
 G. Newly Elected or Appointed Outside Director; Ceasing Board Service. The
Company will pay each individual who is first elected or appointed as an Outside Director after the effective date of this Policy a prorated portion of the applicable annual fees set forth in this Section I based on the number of days that the
Outside Director provided partial service during the year of election or appointment. If any Outside Director ceases to serve on the Board for any reason, the Company will pay such Outside Director a prorated portion of the monthly or quarterly
installment due to such Outside Director under this Section I based on the number of days that such Outside Director provided partial service during the applicable month or quarter. Subject to Section I.H. below, after payment of the aforementioned
prorated monthly or quarterly installment to any Outside Director that ceases to serve on the Board, the Company will have no further obligations to such Outside Director under this Section I. 

H. Reimbursement of Expenses. The Company will reimburse each Outside Director for all reasonable and documented travel
and lodging expenses associated with attendance at Board and committee meetings in accordance with the Company’s then current policies. 

  
 2 

	II.	EQUITY COMPENSATION. 

 Outside Directors will be entitled to receive all types of
Awards (except Incentive Stock Options) under the Plan, including discretionary Awards not covered under this Policy. All grants of Awards to Outside Directors pursuant to this Section II will be automatic and will be made in accordance with the
following provisions: 
 A. Initial Award. Each individual who is first elected or appointed as an Outside Director
after the effective date of this Policy, will automatically be granted, on the date of such initial election or appointment, an Award (“Initial Award”) of Restricted Stock with an aggregate Fair Market Value of $120,000. 

B. Annual Award. On the date of each Annual Stockholders Meeting of the Company, beginning with the 2014 Annual
Stockholders Meeting of the Company, but after any stockholder votes are taken on such date, each Outside Director who is to continue to serve as such will automatically be granted an Award (“Annual Award”) of Restricted Stock with
an aggregate Fair Market Value of $120,000, provided that such Outside Director has served on the Board for at least the preceding six (6) months. 

C. Vesting. Each Initial Award and Annual Award will vest in three equal installments, with one-third vesting on each of
the first, second and third anniversaries of the date of grant, subject to the Outside Director’s continued service on the Board through each such vesting date. In addition, each Initial Award and Annual Award will become fully vested upon the
occurrence of a Change in Control (as defined in the Plan) provided that the Outside Director serves on the Board through the date of such Change in Control. 

D. Award Agreement. Each Initial Award and Annual Award granted pursuant to this Policy will be made solely by and
subject to the terms set forth in a written agreement in a form, consistent with the terms of the Plan, approved by the Board (or the Compensation Committee of the Board) and duly executed by an executive officer of the Company. 

 

	III.	AMENDMENT, MODIFICATION AND TERMINATION. 

 This Policy may be amended, modified or
terminated by the Board in the future at its sole discretion. 

  
 3EX-4.1

 Exhibit 4.1 

FORM OF COMMON STOCK CERTIFICATE 
  

					
	Number CS-	 	INCORPORATED UNDER THE LAWS OF	  	Shares
		 	THE STATE OF DELAWARE	  	Common Stock
		 	February 5, 2008	  	

 ZS PHARMA, INC. 

THIS CERTIFIES THAT
                     is the record holder of
                                         
            shares of the Common Stock of ZS Pharma, Inc. hereinafter designated the “Corporation,” par value $0.001 per share, transferable on the share register of the
Corporation by the holder, in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed or assigned. 

This Certificate and the shares represented hereby are issued and shall be held subject to all the provisions of the Certificate of
Incorporation and the Bylaws of the Corporation and any amendments thereof, copies of which are on file at the office of the Corporation, and made a part hereof as fully as though the provisions of said Certificate of Incorporation and Bylaws were
imprinted in full on this Certificate, to all of which the holder of this Certificate, by acceptance hereof, assents and agrees to be bound. The shares represented by this Certificate are subject to the legend(s) affixed to the back of this
Certificate. 
 A statement of all the rights, preferences, privileges and restrictions granted to or imposed upon the respective classes or
series of shares of stock of the Corporation and upon the holders thereof may be obtained by any stockholder, upon request, at the principal office of the Corporation, and the Corporation will furnish any stockholder, upon request and without
charge, a copy of such statement. 
 IN WITNESS WHEREOF, the Corporation has caused this Certificate to be signed by its duly authorized officers to be
effective on                     , 20    . 
  

									
	  
	  		  	  

	Chief Executive Officer	  	  	Secretary

 FOR VALUE RECEIVED
                                         
    DO HEREBY SELL, ASSIGN AND TRANSFER UNTO
                                         
    SHARES REPRESENTED BY THE WITHIN CERTIFICATE AND DO HEREBY IRREVOCABLY CONSTITUTE AND APPOINT
                                         
               , ATTORNEY TO TRANSFER THE SAID SHARES ON THE SHARE REGISTER OF THE WITHIN NAMED CORPORATION WITH FULL POWER OF SUBSTITUTION IN THE PREMISES. 

DATED                     , 20    

  

											
	IN PRESENCE OF	 	  
	  		  	  

		 	(Witness)	 		  		  	(Stockholder)
		 		  		  	  

		 		  		  	(Stockholder)

 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE
SECURITIES LAWS OF ANY STATE, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SUCH ACT AND/OR APPLICABLE STATE SECURITIES LAWS, OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL OR OTHER
EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED. 
 THE RIGHT TO VOTE THE SHARES REPRESENTED BY
THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS SET FORTH IN A VOTING AGREEMENT, A COPY OF WHICH IS ON FILE AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS. 

THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF
WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AND MAY ONLY BE SOLD, DISPOSED OF OR
OTHERWISE TRANSFERRED IN COMPLIANCE WITH CERTAIN RIGHTS OF FIRST REFUSAL AND RIGHTS OF CO-SALE AS SET FORTH IN A RIGHT OF FIRST REFUSAL AND CO-SALE AGREEMENT ENTERED INTO BY THE HOLDER OF THESE SHARES, THE COMPANY AND CERTAIN STOCKHOLDERS OF THE
COMPANY. A COPY OF SUCH AGREEMENT IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY. SUCH RIGHTS OF FIRST REFUSAL AND RIGHTS OF CO-SALE ARE BINDING ON CERTAIN TRANSFEREES OF THESE SHARES. 

THE COMPANY IS AUTHORIZED TO ISSUE SHARES OF MORE THAN ONE CLASS OR SERIES OF STOCK. A FULL STATEMENT OF ALL THE DESIGNATIONS, PREFERENCES, LIMITATIONS AND
RELATIVE RIGHTS OF THE SHARES OF EACH CLASS OR SERIES TO THE EXTENT THEY HAVE BEEN FIXED AND DETERMINED IS ON FILE IN THE OFFICE OF THE SECRETARY OF STATE OF DELAWARE AND THE COMPANY WILL FURNISH A COPY OF SUCH STATEMENT TO THE RECORD HOLDER OF THIS
CERTIFICATE WITHOUT CHARGE ON WRITTEN REQUEST TO THE COMPANY AT ITS PRINCIPAL PLACE OF BUSINESS OR REGISTERED OFFICE.

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