Document:

2009 Non-Employee Director Stock Incentive Plan, as amended and restated (2011)

 Exhibit 10.2 
 APOGEE ENTERPRISES, INC. 
 2009 NON-EMPLOYEE DIRECTOR STOCK INCENTIVE
PLAN, 
 AS AMENDED AND RESTATED (2011) 

 

	Section 1.	Purpose. 

 The purpose of
the Plan is to promote the interests of the Company and its shareholders by aiding the Company in attracting and retaining Non-Employee Directors capable of providing strategic direction to, and assuring the future success of, the Company, to offer
such Non-Employee Directors incentives to put forth maximum efforts for the success of the Company’s business and an opportunity to acquire a proprietary interest in the Company, thereby aligning the interests of such Non-Employee Directors
with the Company’s shareholders. 
  

	Section 2.	Definitions. 

 As used in
the Plan, the following terms shall have the meanings set forth below: 
 (a) “Acquiring Person” shall mean any
“person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) who or which, together with all Affiliates and Associates of such person, is the Beneficial Owner (as defined in Rule 13d-3 promulgated under the Exchange Act)
of 10% or more of the shares of Common Stock of the Company then outstanding, but shall not include the Company, any subsidiary of the Company or any employee benefit plan of the Company or of any subsidiary of the Company or any entity holding
shares of Common Stock organized, appointed or established for, or pursuant to the terms of, any such plan. For purposes of this definition, “Affiliate” and “Associate” shall have the respective meanings ascribed to such terms in
Rule 12b-2 promulgated under the Exchange Act. 
 (b) “Affiliate” shall mean (i) any entity that, directly or
indirectly through one or more intermediaries, is controlled by the Company and (ii) any entity in which the Company has a significant equity interest, in each case as determined by the Committee. 

(c) “Award” shall mean any Option, Stock Appreciation Right, Restricted Stock, Restricted Stock Unit, Dividend Equivalent,
Stock Award or Other Stock-Based Award granted under the Plan. 
 (d) “Award Agreement” shall mean any written
agreement, contract or other instrument or document evidencing an Award granted under the Plan. An Award Agreement may be in an electronic medium and need not be signed by a representative of the Company or the Participant. Each Award Agreement
shall be subject to the applicable terms and conditions of the Plan and any other terms and conditions (not inconsistent with the Plan) determined by the Committee. 
 (e) “Board” shall mean the Board of Directors of the Company. 
 (f)
“Change in Control” shall mean: 
 (i) a change in control of a nature that would be required to be reported in
response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Exchange Act, or successor provision thereto, whether or not the Company is then subject to such reporting requirement including, without limitation, any of the
following events: 
 (A) the consummation of any consolidation or merger of the Company in which the Company is not the
continuing or surviving corporation or pursuant to which shares of the Company’s Common Stock would be converted into cash, securities, or other property, other than a merger of the Company in which all or substantially all of the holders of
the Company’s Common Stock immediately prior to the consolidation or merger own more than 65% of the common stock of the surviving corporation immediately after the merger in the same relative proportions as their ownership of the
Company’s Common Stock immediately prior to the consolidation or merger; 

  
 1 

 (B) any sale, lease, exchange or other transfer (in one transaction or a series of related
transactions) of all, or substantially all, of the assets of the Company; 
 (C) any reorganization, reverse stock split, or
recapitalization of the Company which would result in a Change in Control; or 
 (D) any transaction or series of related
transactions having, directly or indirectly, the same effect as any of the foregoing. 
 (ii) any “person” (as such
term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the “Beneficial Owner” (as defined in Rule 13d-3 promulgated under the Exchange Act), directly or indirectly, of securities of the Company representing 35% or more
of the combined voting power of the Company’s then outstanding securities; or 
 (iii) the Continuing Directors cease to
constitute a majority of the Company’s Board. 
 (g) “Code” shall mean the Internal Revenue Code of 1986, as
amended from time to time, and any regulations promulgated thereunder. 
 (h) “Committee” shall mean the Nominating
and Corporate Governance Committee of the Board or any successor committee of the Board designated by the Board to administer the Plan. The Committee shall be comprised of not less than such number of Directors as shall be required to permit Awards
granted under the Plan to qualify under Rule 16b-3, and each member of the Committee shall be a “Non-Employee Director” within the meaning of Rule 16b-3. 
 (i) “Common Stock” shall mean shares of common stock, $.33-1/3 par value, of the Company. 
 (j) “Company” shall mean Apogee Enterprises, Inc., a Minnesota corporation, and any successor corporation. 
 (k) “Continuing Director” shall mean any person who is a member of the Board, who is not an Acquiring Person or an Affiliate or Associate of an Acquiring Person, or a representative of an
Acquiring Person or of any such Affiliate or Associate, and who (A) was a member of the Board on the date of the applicable Award Agreement or (B) subsequently becomes a member of the Board, if such person’s initial nomination for
election or initial election to the Board is recommended or approved by a majority of the Continuing Directors. For purposes of this definition, “Affiliate” and “Associate” shall have the respective meanings ascribed to such
terms in Rule 12b-2 promulgated under the Exchange Act. 
 (l) “Director” shall mean a member of the Board.

 (m) “Dividend Equivalent” shall mean any right granted under Section 5(d) of the Plan. 

(n) “Exchange Act” shall mean the Securities and Exchange Act of 1934, as amended. 

(o) “Fair Market Value” shall mean, with respect to any property (including, without limitation, any Shares or other
securities), the fair market value of such property determined by such methods or procedures as shall be established from time to time by the Committee. Notwithstanding the foregoing, unless otherwise determined by the Committee, the Fair Market
Value of Shares on a given date for purposes of the Plan shall be the closing sale price of the Shares as reported on the NASDAQ Global Select Market on such date or, if such market is not open for trading on such date, on the most recent preceding
date when such market is open for trading. 
 (p) “Non-Employee Director” shall mean a Director who is not also an
employee of the Company or an Affiliate. 

  
 2 

 (q) “Option” shall mean an option granted under Section 5(a) of the Plan
that is not intended to meet the requirements of Section 422 of the Code or any successor provision. 
 (r) “Other
Stock-Based Award” shall mean any right granted under Section 5(f) of the Plan. 
 (s) “Participant” shall
mean a Non-Employee Director granted an Award under the Plan. 
 (t) “Person” shall mean any individual or entity,
including a corporation, partnership, limited liability company, association, joint venture or trust. 
 (u) “Plan”
shall mean this Apogee Enterprises, Inc. 2009 Non-Employee Director Stock Incentive Plan, as amended from time to time. 
 (v)
“Restricted Stock” shall mean any Share granted under Section 5(c) of the Plan. 
 (w) “Restricted Stock
Unit” shall mean any unit granted under Section 5(c) of the Plan evidencing the right to receive a Share (or a cash payment equal to the Fair Market Value of a Share) at some future date. 

(x) “Rule 16b-3” shall mean Rule 16b-3 promulgated by the Securities and Exchange Commission under the Exchange Act
or any successor rule or regulation. 
 (y) “Section 409A” shall mean Section 409A of the Code, or any
successor provision, and applicable Treasury Regulations and other applicable guidance thereunder. 
 (z) “Shares”
shall mean shares of Common Stock or such other securities or property as may become subject to Awards pursuant to an adjustment made under Section 4(c) of the Plan. 
 (aa) “Stock Appreciation Right” shall mean any right granted under Section 5(b) of the Plan. 
 (bb) “Stock Award” shall mean any Share granted under Section 5(e) of the Plan. 
 (cc) “2002 Plan” shall mean the Apogee Enterprises, Inc. Amended and Restated 2002 Omnibus Stock Incentive Plan, as amended from time to time. 

 

	Section 3.	Administration. 

 (a)
Power and Authority of the Committee. The Plan shall be administered by the Committee. Subject to the express provisions of the Plan and to applicable law, the Committee shall have full power and authority to: (i) designate Participants;
(ii) determine the type or types of Awards to be granted to each Participant under the Plan; (iii) determine the number of Shares to be covered by (or the method by which payments or other rights are to be calculated in connection with)
each Award; (iv) determine the terms and conditions of any Award or Award Agreement, including any terms relating to the forfeiture of any Award and the forfeiture, recapture or disgorgement of any cash, Shares, other securities, other Awards,
other property and other amounts payable with respect to any Award; (v) amend the terms and conditions of any Award or Award Agreement; (vi) accelerate the exercisability of any Award or the lapse of restrictions relating to any Award;
(vii) determine whether, to what extent and under what circumstances Awards may be exercised in cash, Shares, other securities, other Awards or other property, or cancelled, forfeited or suspended; (viii) determine whether, to what extent
and under what circumstances cash, Shares, other securities, other Awards, other property and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder of the Award or the
Committee; (ix) interpret and administer the Plan and any instrument or agreement, including any Award Agreement, relating to the Plan; (x) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall
deem appropriate for the proper administration of the Plan; and (xi) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. Unless otherwise expressly provided
in the Plan, all designations, determinations, interpretations and other 

  
 3 

 
decisions under or with respect to the Plan or any Award or Award Agreement shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and
binding upon any Participant, any holder or beneficiary of any Award or Award Agreement. 
 (b) Power and Authority of the
Board. Notwithstanding anything to the contrary contained herein, the Board may, at any time and from time to time, without any further action of the Committee, exercise the powers and duties of the Committee under the Plan. 

 

	Section 4.	Shares Available for Awards. 

 (a) Shares Available. Subject to adjustment as provided in Section 4(c) of the Plan, the aggregate number of Shares that may be issued under all Awards under the Plan shall be 250,000. If an
Award terminates or is forfeited or cancelled without the issuance of any Shares, or if any Shares covered by an Award or to which an Award relates are not issued for any other reason, then the number of Shares counted against the aggregate number
of Shares available under the Plan with respect to such Award, to the extent of any such termination, forfeiture, cancellation or other event, shall again be available for granting Awards under the Plan. If Shares of Restricted Stock are forfeited
or otherwise reacquired by the Company prior to vesting, whether or not dividends have been paid on such Shares, then the number of Shares counted against the aggregate number of Shares available under the Plan with respect to such Award of
Restricted Stock, to the extent of any such forfeiture or reacquisition by the Company, shall again be available for granting Awards under the Plan. Shares that are withheld in full or partial payment to the Company of the purchase or exercise price
relating to an Award shall not be available for granting Awards under the Plan. 
 (b) Accounting for Awards. For
purposes of this Section 4, if an Award entitles the holder thereof to receive or purchase Shares, the number of Shares covered by such Award or to which such Award relates shall be counted on the date of grant of such Award against the
aggregate number of Shares available for Awards under the Plan. For Stock Appreciation Rights settled in Shares upon exercise, the aggregate number of Shares with respect to which the Stock Appreciation Right is granted, rather than the number of
Shares actually issued upon exercise, shall be counted against the number of Shares available for Awards under the Plan. Awards that do not entitle the holder thereof to receive or purchase Shares and Awards that are settled in cash shall not be
counted against the aggregate number of Shares available for Awards under the Plan. 
 (c) Adjustments. In the event
that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase
or exchange of Shares or other securities of the Company, issuance of warrants or other rights to purchase Shares or other securities of the Company or other similar corporate transaction or event affects the Shares such that an adjustment is
necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it deems equitable, adjust any or all of (i) the number and
type of Shares (or other securities or other property) which thereafter may be made the subject of Awards, (ii) the number and type of Shares (or other securities or other property) subject to outstanding Awards and (iii) the purchase or
exercise price with respect to any Award; provided, however, that the number of Shares covered by any Award or to which such Award relates shall always be a whole number. Such adjustment shall be made by the Committee, whose determination in
that respect shall be final, binding and conclusive. 
  

	Section 5.	Awards. 

 (a)
Options. The Committee is hereby authorized to grant Options to Non-Employee Directors with the following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee
shall determine: 
 (i) Exercise Price. The purchase price per Share purchasable under an Option shall be determined by
the Committee; provided, however, that such purchase price shall not be less than 100% of the Fair Market Value of a Share on the date of grant of such Option. 

  
 4 

 (ii) Option Term. The term of each Option shall be fixed by the Committee but shall
not be longer than 10 years from the date of grant. 
 (iii) Time and Method of Exercise. The Committee shall determine
the time or times at which an Option may be exercised in whole or in part. The minimum vesting period of Options shall be three years from the date of grant, unless vesting of the Option is conditioned on performance of the Company or an Affiliate
or on personal performance (other than continued service with the Company or an Affiliate), in which case the minimum vesting period of Options shall be at least one year from the date of grant. Notwithstanding the foregoing, the Committee may
permit acceleration of vesting of Options in the event of the Participant’s death, disability or retirement or a change in control of the Company. The Committee shall also determine the method or methods by which, and the form or forms
(including, without limitation, cash, Shares, other securities, other Awards or other property, or any combination thereof, having a Fair Market Value on the exercise date equal to the applicable exercise price) in which, payment of the exercise
price with respect thereto may be made or deemed to have been made. 
 (b) Stock Appreciation Rights. The Committee is
hereby authorized to grant Stock Appreciation Rights to Non-Employee Directors subject to the terms of the Plan and any applicable Award Agreement. A Stock Appreciation Right granted under the Plan shall confer on the holder thereof a right to
receive upon exercise thereof the excess of (i) the Fair Market Value of one Share on the date of exercise (or, if the Committee shall so determine, at any time during a specified period before or after the date of exercise) over (ii) the
grant price of the Stock Appreciation Right as specified by the Committee, which price shall not be less than 100% of the Fair Market Value of one Share on the date of grant of the Stock Appreciation Right. Subject to the terms of the Plan and any
applicable Award Agreement, the grant price, term, methods of exercise, dates of exercise, methods of settlement and any other terms and conditions of any Stock Appreciation Right shall be as determined by the Committee; provided, however,
that the term of each Stock Appreciation Right shall not be longer than 10 years from the date of grant. The Committee may impose such conditions or restrictions on the exercise of any Stock Appreciation Right as it may deem appropriate. 

(c) Restricted Stock and Restricted Stock Units. The Committee is hereby authorized to grant Awards of Restricted Stock and
Restricted Stock Units to Non-Employee Directors with the following terms and conditions and with such additional terms and conditions not inconsistent with the provisions of the Plan as the Committee shall determine: 

(i) Restrictions. Shares of Restricted Stock and Restricted Stock Units shall be subject to such restrictions as the Committee
may impose (including, without limitation, any limitation on the right to vote a Share of Restricted Stock or the right to receive any dividend or other right or property with respect thereto), which restrictions may lapse separately or in
combination at such time or times or upon achievement of established performance goals, in such installments or otherwise as the Committee may deem appropriate. Such Awards shall vest, in installments or otherwise, over at least a three-year period
from the date of grant, unless the Award is conditioned on performance of the Company or an Affiliate or on personal performance (other than continued service with the Company or an Affiliate), in which case the minimum vesting period of such Award
shall be at least one year from the date of grant. Notwithstanding the foregoing, the Committee may permit acceleration of vesting of such Awards in the event of the Participant’s death, disability or retirement or a change in control of the
Company. 
 (ii) Issuance and Delivery of Shares. Any Restricted Stock granted under the Plan shall be issued at the
time such Awards are granted and may be evidenced in such manner as the Committee may deem appropriate, including book-entry registration or issuance of a stock certificate or certificates, which certificate or certificates shall be held by the
Company. Such certificate or certificates shall be registered in the name of the Participant and shall bear an appropriate legend referring to the restrictions applicable to such Restricted Stock. Shares representing Restricted Stock that is no
longer subject to restrictions shall be delivered to the Participant promptly after the applicable restrictions lapse or are waived. In the case of Restricted Stock Units, no Shares shall be issued at the time such Awards are granted. Upon the lapse
or waiver of restrictions and the restricted period relating to Restricted Stock Units evidencing the right to receive Shares, such Shares shall be issued and delivered to the holder of the Restricted Stock Units. 

  
 5 

 (iii) Forfeiture. Except as otherwise determined by the Committee, upon a
Participant’s resignation or removal as a Director (in either case, as determined by the Committee) during the applicable restriction period, all Shares of Restricted Stock and all Restricted Stock Units held by the Participant at such time
shall be forfeited and reacquired by the Company; provided, however, that the Committee may, when it finds that a waiver would be in the best interest of the Company, waive in whole or in part any or all remaining restrictions with respect to Shares
of Restricted Stock or Restricted Stock Units. 
 (d) Dividend Equivalents. The Committee is hereby authorized to grant
“Dividend Equivalents” to Non-Employee Directors under which the Participant shall be entitled to receive payments (in cash, Shares, other securities, other Awards or other property as determined in the discretion of the Committee)
equivalent to the amount of cash dividends paid by the Company to holders of Shares with respect to a number of Shares determined by the Committee. Subject to the terms of the Plan and any applicable Award Agreement, such Dividend Equivalents may
have such terms and conditions as the Committee shall determine. Notwithstanding the foregoing, the Committee may not grant Dividend Equivalents to Non-Employee Directors in connection with grants of Options or Stock Appreciation Rights to such
Non-Employee Directors. 
 (e) Stock Awards. The Committee is hereby authorized to grant to Non-Employee Directors
Shares without restrictions thereon, as deemed by the Committee to be consistent with the purpose of the Plan. Subject to the terms of the Plan and any applicable Award Agreement, such Stock Awards may have such terms and conditions as the Committee
shall determine. 
 (f) Other Stock-Based Awards. The Committee is hereby authorized to grant to Non-Employee Directors
such other Awards that are denominated or payable in, valued in whole or in part by reference to, or otherwise based on or related to, Shares (including, without limitation, securities convertible into Shares), as are deemed by the Committee to be
consistent with the purpose of the Plan. The Committee shall determine the terms and conditions of such Awards, subject to the terms of the Plan and the Award Agreement. Shares, or other securities delivered pursuant to a purchase right granted
under this Section 5(g), shall be purchased for consideration having a value equal to at least 100% of the Fair Market Value of such Shares or other securities on the date the purchase right is granted. The consideration paid by the Participant
may be paid by such method or methods and in such form or forms (including, without limitation, cash, Shares, other securities, other Awards or other property, or any combination thereof), as the Committee shall determine. 

(g) General. 
 (i) Consideration for Awards. Awards may be granted for no cash consideration or for any cash or other consideration as may be determined by the Committee or required by applicable law. 

(ii) Awards May Be Granted Separately or Together. Awards may, in the discretion of the Committee, be granted either alone or in
addition to, in tandem with or in substitution for any other Award or any award granted under any other plan of the Company or any Affiliate. Awards granted in addition to or in tandem with other Awards or in addition to or in tandem with awards
granted under any other plan of the Company or any Affiliate may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 
 (iii) Forms of Payment under Awards. Subject to the terms of the Plan and of any applicable Award Agreement, payments or transfers to be made by the Company or an Affiliate upon the grant, exercise
or payment of an Award may be made in such form or forms as the Committee shall determine (including, without limitation, cash, Shares, other securities, other Awards or other property, or any combination thereof), and may be made in a single
payment or transfer, in installments or on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include, without limitation, provisions for the payment or crediting of
reasonable interest on installment or deferred payments or the grant or crediting of Dividend Equivalents with respect to installment or deferred payments. 
 (iv) Term of Awards. The term of each Award shall be for a period not longer than 10 years from the date of grant. 

  
 6 

 (v) Limits on Transfer of Awards. Except as otherwise provided in this
Section 5(g)(v), no Award (other than a Stock Award) and no right under any such Award shall be transferable by a Participant other than by will or by the laws of descent and distribution. The Committee may establish procedures as it deems
appropriate for a Participant to designate a Person or Persons, as beneficiary or beneficiaries, to exercise the rights of the Participant and receive any property distributable with respect to any Award in the event of the Participant’s death.
The Committee, in its discretion and subject to such additional terms and conditions as it determines, may permit a Participant to transfer an Option to any “family member” (as such term is defined in the General Instructions to Form S-8
(or any successor to such Instructions or such Form) under the Securities Act of 1933, as amended) at any time that such Participant holds such Option, provided that such transfers may not be for value (i.e., the transferor may not receive any
consideration therefor) and the family member may not make any subsequent transfers other than by will or by the laws of descent and distribution. Each Award under the Plan or right under any such Award shall be exercisable during the
Participant’s lifetime only by the Participant (except as provided herein or in an Award Agreement or amendment thereto relating to an Option) or, if permissible under applicable law, by the Participant’s guardian or legal representative.
No Award (other than a Stock Award) or right under any such Award may be pledged, alienated, attached or otherwise encumbered, and any purported pledge, alienation, attachment or encumbrance thereof shall be void and unenforceable against the
Company or any Affiliate. 
 (vi) Restrictions; Securities Exchange Listing. All Shares or other securities delivered
under the Plan pursuant to any Award or the exercise thereof shall be subject to such restrictions as the Committee may deem advisable under the Plan, applicable federal or state securities laws and regulatory requirements, and the Committee may
cause appropriate entries to be made or legends to be placed on the certificates for such Shares or other securities to reflect such restrictions. If the Shares or other securities are traded on a securities exchange, the Company shall not be
required to deliver any Shares or other securities covered by an Award unless and until such Shares or other securities have been admitted for trading on such securities exchange. 

(vii) Prohibition on Option and Stock Appreciation Right Repricing. Except as provided in Section 4(c) hereof, no Option may
be amended to reduce its initial exercise price, no Option may be cancelled and replaced with an Option or Options having a lower exercise price and no Option that is underwater may be cancelled and exchanged for cash or another Award. In addition,
except as provided in Section 4(c) hereof, no Stock Appreciation Right may be amended to reduce its grant price, no Stock Appreciation Right may be cancelled and replaced with a Stock Appreciation Right having a lower grant price and no Stock
Appreciation Right that is underwater may be cancelled and exchanged for cash or another Award. 
 (viii) Section 409A
Provisions. Notwithstanding anything in the Plan or any Award Agreement to the contrary, to the extent that any amount or benefit that constitutes “deferred compensation” to a Participant under Section 409A of the Code and
applicable guidance thereunder is otherwise payable or distributable to a Participant under the Plan or any Award Agreement solely by reason of the occurrence of a Change in Control or due to the Participant’s disability or separation from
service, such amount or benefit will not be payable or distributable to the Participant by reason of such circumstance unless the Committee determines in good faith that (i) the circumstances giving rise to such Change in Control, disability or
separation from service meet the definition of a change in ownership or control, disability, or separation from service, as the case may be, in Section 409A(a)(2)(A) of the Code and applicable proposed or final regulations, or (ii) the
payment or distribution of such amount or benefit would be exempt from the application of Section 409A by reason of the short-term deferral exemption or otherwise. For purposes of this paragraph, a “separation from service” shall mean
a complete severance for any reason of a Director’s relationship as a Director and/or independent contractor of the Company and any Affiliates. A Director may have a separation from service upon resignation as a Director even if the Director
then becomes an officer or employee of the Company or an Affiliate. In all events, separation from service shall be construed to have a meaning consistent with the term “separation from service” as used and defined in Section 409A of
the Code. 

  
 7 

	Section 6.	Amendment and Termination; Corrections. 

 (a) Amendments to the Plan. The Board may amend, alter, suspend, discontinue or terminate the Plan at any time; provided, however, that, notwithstanding any other provision of the Plan or
any Award Agreement, prior approval of the shareholders of the Company shall be required for any amendment to the Plan that: 

(i) requires shareholder approval under the rules or regulations of the Securities and Exchange Commission, the NASDAQ Global Select
Market or any other securities exchange that are applicable to the Company; 
 (ii) increases the number of shares authorized
under the Plan as specified in Section 4(a) of the Plan; 
 (iii) permits repricing of Options or Stock Appreciation
Rights which is prohibited by Section 5(g)(vii) of the Plan; and 
 (iv) permits the award of Options or Stock
Appreciation Rights at a price less than 100% of the Fair Market Value of a Share on the date of grant of such Option or Stock Appreciation Right, contrary to the provisions of Sections 5(a)(i) and 5(b)(ii) of the Plan. 

(b) Amendments to Awards. Subject to the provisions of the Plan, the Committee may waive any conditions of or rights of the
Company under any outstanding Award, prospectively or retroactively. Except as otherwise provided in the Plan, the Committee may amend, alter, suspend, discontinue or terminate any outstanding Award, prospectively or retroactively, but no such
action may adversely affect the rights of the holder of such Award without the consent of the Participant or holder or beneficiary thereof. The Company intends that Awards under the Plan shall satisfy the requirements of Section 409A to avoid
any adverse tax results thereunder, and the Committee shall administer and interpret the Plan and all Award Agreements in a manner consistent with that intent. If any provision of the Plan or an Award Agreement would result in adverse tax
consequences under Section 409A, the Committee may amend that provision (or take any other action reasonably necessary) to avoid any adverse tax results and no action taken to comply with Section 409A shall be deemed to impair or otherwise
adversely affect the rights of any holder of an Award or beneficiary thereof. 
 (c) Correction of Defects, Omissions and
Inconsistencies. The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award or Award Agreement in the manner and to the extent it shall deem desirable to implement or maintain the
effectiveness of the Plan. 
  

	Section 7.	General Provisions. 

 (a)
No Rights to Awards. No Non-Employee Director, Participant or other Person shall have any claim to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of Non-Employee Directors, Participants or holders
or beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to any Participant or with respect to different Participants. 
 (b) Award Agreements. No Participant shall have rights under an Award granted to such Participant unless and until an Award Agreement shall have been duly executed on behalf of the Company and, if
requested by the Company, signed by the Participant, or until such Award Agreement is delivered and accepted through any electronic medium in accordance with procedures established by the Company. 

(c) No Rights of Shareholders. Except with respect to Restricted Stock and Stock Awards, neither a Participant nor the
Participant’s legal representative shall be, or have any of the rights and privileges of, a shareholder of the Company with respect to any Shares issuable upon the exercise or payment of any Award, in whole or in part, unless and until the
Shares have been issued. 
 (d) No Limit on Other Compensation Plans or Arrangements. Nothing contained in the Plan
shall prevent the Company or any Affiliate from adopting or continuing in effect other or additional compensation 

  
 8 

 
plans or arrangements, and such plans or arrangements may be either generally applicable or applicable only in specific cases. 

(e) No Right to Directorship. The grant of an Award shall not be construed as giving a Participant the right to be retained as a
Director. 
 (f) Governing Law. The validity, construction and effect of the Plan or any Award, and any rules and
regulations relating to the Plan or any Award, shall be determined in accordance with the laws of the State of Minnesota. 

(g) Severability. If any provision of the Plan or any Award is or becomes or is deemed to be invalid, illegal or unenforceable in
any jurisdiction or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended
without, in the determination of the Committee, materially altering the purpose or intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction or Award, and the remainder of the Plan or any such Award shall remain in
full force and effect. 
 (h) No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to
create a trust or separate fund of any kind or a fiduciary relationship between the Company or any Affiliate and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company or any Affiliate
pursuant to an Award, such right shall be no greater than the right of any unsecured general creditor of the Company or any Affiliate. 
 (i) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash shall be paid in lieu of any fractional
Share or whether such fractional Share or any rights thereto shall be cancelled, terminated or otherwise eliminated. 
 (j)
Headings. Headings are given to the Sections and subsections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or
any provision thereof. 
 (k) Other Benefits. No compensation or benefit awarded to or realized by any Participant under
the Plan shall be included for the purpose of computing such Participant’s compensation under any compensation-based retirement, disability, or similar plan of the Company unless required by law or otherwise provided by such other plan.

  

	Section 8.	Effective Date of the Plan; Effect on 2002 Plan. 

 The Plan shall be subject to approval by the shareholders of the Company at the 2009 Annual Meeting of Shareholders to be held on June 24, 2009 and the Plan shall be effective as of the date of such
shareholder approval. On and after the date of shareholder approval of the Plan, no automatic grants shall be made to Non-Employee Directors pursuant to Section 7 of the 2002 Plan, and all grants to Non-Employee Directors on or after the date
of shareholder approval of the Plan shall be made solely under the Plan. All grants previously made to Non-Employee Directors under the 2002 Plan shall continue to be governed by the terms and conditions of the 2002 Plan and any award agreements
entered into thereunder. 
  

	Section 9.	Term of the Plan. 

 The
Plan shall terminate at midnight on June 23, 2019, unless terminated before then by the Board. Awards may be granted under the Plan until the earlier to occur of termination of the Plan or the date on which all Shares available for Awards under
the Plan have been purchased or acquired. As long as any Awards are outstanding under the Plan, the terms of the Plan shall govern such Awards. 

  
 9 

 Adopted by Board May 7, 2009, subject to and effective upon shareholder approval 

Approved by shareholders on June 24, 2009 

Amended by Board April 27, 2011, subject to and effective upon shareholder approval 
 Approved by shareholders on June 22, 2011 

  
 10Amended and Restated Employment Agreement--H. Philip Bender

 Exhibit 10.1 
 2011 Amended and Restated 
 Employment Agreement 

This 2011 AMENDED AND RESTATED EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of June 27, 2011, to be
effective as of June 27, 2011 (the “Effective Date”), by and among CEDAR FAIR, L.P., a publicly traded Delaware limited partnership, CEDAR FAIR MANAGEMENT, INC., an Ohio corporation (“Cedar Fair
Management”), MAGNUM MANAGEMENT CORPORATION, an Ohio corporation (“Magnum”), and H. PHILIP BENDER, Executive Vice President, an individual (“Executive”). 

 

	1.	Recitals. 

 (a)
Cedar Fair, L.P. is affiliated with several corporations and partnerships including, without limitation, Cedar Fair Management and Magnum (hereinafter collectively referred to as “Cedar Fair” or the “Company”). 

(b) The Board of Directors of Cedar Fair Management (the “Board”) and its Chief Executive Officer have caused Cedar Fair to
enter into an employment agreement with Executive, dated June 17th, 2010 ( “2010 Agreement”). 
 (c) This
Agreement amends, restates, and supersedes the 2010 Agreement. 
 (d) In consideration of the mutual promises contained herein
and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Executive and Cedar Fair have entered into this Agreement. 
  

	2.	Term of Employment. 

Except as otherwise provided in this Agreement, the term of this Agreement shall be for a period commencing on the Effective Date and
ending on November 30, 2011. This Agreement shall renew automatically for a period of two (2) years commencing December 1, 2011, and on every two- (2-) year anniversary of December 1, 2011, thereafter unless one of the parties
provides written notice of intent to terminate not less than sixty (60) days prior to December 1, 2011 or any such two- (2-) year anniversary thereafter; provided, however, that Cedar Fair shall have the right to terminate this Agreement
at any time, subject to the obligations to provide the benefits and make the payments provided herein. The term of Executive’s employment, as it may be extended pursuant to this Section 2, is hereinafter referred to as the “Employment
Term.” Upon Executive’s termination of employment, Executive will resign all officer positions with Cedar Fair and all affiliates of Cedar Fair. 
  

	3.	Nature of Duties. 

Executive agrees to devote his entire business time to the affairs of Cedar Fair so as to achieve the goals and objectives set by the
Chief Executive Officer and/or the 

  
 - 1 -

 
Board, and to use his best efforts to promote the interests of Cedar Fair. Executive further agrees to perform faithfully and efficiently the responsibilities that may be assigned to him from
time to time. Executive further understands that he is governed by a duty of loyalty and fidelity to Cedar Fair by virtue of his position. 
  

	4.	Compensation. 

 (a)
Base Salary. As compensation for Executive’s services, Cedar Fair shall pay to Executive during the Employment Term an annual salary in accordance with Cedar Fair’s normal payroll practices (but no less frequently than monthly)
(“Base Salary”). Executive’s Base Salary shall be no less than Two Hundred Seventy-Seven Thousand United States Dollars (US $277,000) per year and may be adjusted each year in an amount determined by the Board. 

(b) Incentive Compensation. During the Employment Term, Executive will be eligible to participate in one or more of Cedar
Fair’s incentive compensation plans and equity incentive plans at a level appropriate to Executive’s position, as solely determined by the Board. 
  

	5.	Benefits. 

 (a)
Cedar Fair agrees that Executive shall be eligible to participate in such vacation, medical, dental, life insurance, 401(k) plan, and other benefit plans and programs that Cedar Fair may have or establish from time to time and in which he would be
entitled to participate pursuant to the terms of the applicable plan. 
 (b) In compliance with Section 409A,
notwithstanding any other provision of such plans and programs: 
 (i) The amount of expenses eligible for reimbursement and the
provision of in-kind benefits during any calendar year shall not affect the amount of expenses eligible for reimbursement or the provision of in-kind benefits in any other calendar year; 

(ii) The reimbursement of an eligible expense shall be made on or before December 31 of the calendar year following the calendar year
in which the expense was incurred; and 
 (iii) The right to reimbursement or right to in-kind benefit shall not be subject to
liquidation or exchange for another benefit. 
  

	6.	Business Expenses and Perquisites. 

 (a) During the Employment Term, reasonable travel, entertainment, and other business expenses incurred by Executive in the performance of his duties hereunder shall be reimbursed by Cedar Fair in
accordance with Cedar Fair’s policies as in effect from time to time. 

  
 - 2 -

 (b) In compliance with Section 409A, notwithstanding the terms of any policy to the
contrary: 
 (i) The amount of expenses eligible for reimbursement during any calendar year shall not affect the amount of
expenses eligible for reimbursement in any other calendar year; 
 (ii) The reimbursement of an eligible expense shall be made on
or before December 31 of the calendar year following the calendar year in which the expense was incurred; and 
 (iii) The
right to reimbursement shall not be subject to liquidation or exchange for another benefit. 
  

	7.	Termination by Cedar Fair Other Than for Cause. 

 Except as provided in Section 7.1 below: 
 (a) If, other than pursuant to
Section 10 or Section 12 hereof, Cedar Fair shall terminate Executive’s employment (including by written notice of intent, pursuant to Section 2 hereof, not to renew this Agreement), then, subject to Sections 7(b), 7(c), and
7(d): 
 (i) Executive’s Base Salary shall be continued for either one (1) year or the remaining Employment Term,
whichever period of time is longer, payable in accordance with Cedar Fair’s then effective payroll practices; and 
 (ii)
Executive shall have the right to continue medical and dental insurance coverage during such Base Salary continuation period offered pursuant to Part 6 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended, and
Section 4980B of the Code (collectively, the “COBRA Law”), and from the Severance Payment Effective Date (retroactive to Executive’s termination of employment date) through the end of the Base Salary continuation period Executive
shall be required to pay the full cost of the amount for such coverage (both employee and employer) on an after-tax basis and, if permitted under applicable law, as determined in good faith by Cedar Fair, Cedar Fair shall reimburse Executive for the
payments on a monthly basis. In compliance with Section 409A: 
 (A) The amount of expenses eligible for reimbursement and
the provision of in-kind benefits during any calendar year shall not affect the amount of expenses eligible for reimbursement or the provision of in-kind benefits in any other calendar year; 

  
 - 3 -

 (B) The reimbursement of an eligible expense shall be made on or before December 31 of
the calendar year following the calendar year in which the expense was incurred; and 
 (C) The right to reimbursement or right
to in-kind benefit shall not be subject to liquidation or exchange for another benefit. 
 All other benefits provided by Cedar Fair shall end
as of the last day of Executive’s active employment. 
 (b) Notwithstanding the provisions of Section 7(a), no payment
or benefit shall be paid or provided unless and until Executive has incurred a “separation from service” (as that term is defined under Section 409A) at the time his employment is terminated. 

(c) Notwithstanding the provisions of Section 7(a), in the event Executive is a “specified employee” (as that term is
defined under Section 409A) at the time his employment is terminated, no payments hereunder shall be made, or benefits conferred, prior to the first day that is six (6) months after the date of his “separation from service” (as
defined in Section 7(b)); provided that this Section 7(c) shall be effective only to the extent that such payment or provision of benefits would constitute “nonqualified deferred compensation” under Section 409A. Any
payments that are subject to the “specified employee” six- (6-) month delay under Section 409A shall be accumulated and paid, and any delayed provision of benefits and reimbursements shall commence (with retroactive effect), within
the first five (5) business days after the expiration of such six- (6-) month delay; provided that if the five- (5-) day period begins in one calendar year and ends in another, Executive shall not have the right to designate the taxable year of
payment. 
 (d) The payment of any amounts or provision of any benefits under this Section 7 are
conditioned upon the execution and non-revocation of a separation agreement and release in a form mutually acceptable to Executive and the Company. Base Salary continuation and medical and dental coverage (pursuant to Sections 7(a)(i) and
(ii) above) shall commence within forty-five (45) days following Executive’s termination of employment; provided that Executive has delivered an executed the separation agreement and release to Cedar Fair and the seven (7) day
statutory period during which Executive may revoke the release has expired before such forty-fifth (45th) day and provided further that if such forty-five- (45-) day period begins in one calendar year and ends in a second calendar year, payment shall always be made in the second calendar year
(“Severance Payment Effective Date”). If Executive fails timely to sign and deliver the separation agreement and release, Cedar Fair shall not be obligated to provide any Base Salary continuation and benefits. 

 

	7.1.	Termination by Cedar Fair Other Than for Cause Between  

 July 1, 2011 and June 30, 2013. 
 (a) If, other than
pursuant to Section 10 or Section 12 hereof, Cedar Fair shall, after June 30, 2011 but prior to July 1, 2013, terminate Executive’s employment 

  
 - 4 -

 
(including by written notice of intent, pursuant to Section 2 hereof, not to renew this Agreement), then, subject to Sections 7.1(b), 7.1(c), and 7.1(d): 

 

	(i)	Executive’s Base Salary shall be continued for either eighteen (18) months or the remaining Employment Term, whichever period of time is longer, payable in
accordance with Cedar Fair’s then effective payroll practices beginning on the Severance Payment Effective Date; and 

  

	(ii)	Executive shall have the right to continue medical and dental insurance coverage during such Base Salary continuation period offered pursuant to the COBRA Law, and from
the Severance Payment Effective Date (retroactive to Executive’s termination of employment date) through the end of the Base Salary continuation period Executive shall be required to pay the full cost of the amount for such coverage (both
employee and employer) on an after-tax basis and, if permitted under applicable law, as determined in good faith by Cedar Fair, Cedar Fair shall reimburse Executive for the payments on a monthly basis. In compliance with Section 409A:

 (A) The amount of expenses eligible for reimbursement and the provision of in-kind benefits during any calendar
year shall not affect the amount of expenses eligible for reimbursement or the provision of in-kind benefits in any other calendar year; 
 (B) The reimbursement of an eligible expense shall be made on or before December 31 of the calendar year following the calendar year in which the expense was incurred; and 

(C) The right to reimbursement or right to in-kind benefit shall not be subject to liquidation or exchange for another benefit.

  

	(iii)	As of the date of Executive’s termination of employment, Executive shall be one hundred percent (100%) vested in any time-based phantom unit awards and shall
be one hundred percent (100%) vested in any performance-based phantom unit awards; provided, however, that all such phantom unit awards shall be paid pursuant to the terms of the original award agreements (but without regard to any continuing
employment requirements). Any benefit credited to Executive’s account under the 2008 Supplemental Retirement Plan (“2008 Plan”) shall be one hundred percent (100%) vested as of Executive’s termination of employment; payment
of any such benefit shall be made in accordance with the terms of the 2008 Plan. 

  

	(iv)	 Executive shall be entitled to receive full payment of all cash awards outstanding under the 2008 Omnibus Incentive Plan, including but not limited to
any current and long-term incentive compensation plan awards without proration for less than full employment in the year of termination and without regard to any requirement that Executive be employed on the date of payment. Except as otherwise
provided in the first sentence of this Section 7(a)(iv), payment shall be made in the same 

  
 - 5 -

	 	 
manner and in accordance with the terms of the applicable plan and the original award agreements without acceleration of the time or change of the form of payment (but without regard to any
continuing employment requirements). 

 All other benefits provided by Cedar Fair shall end as of the last day
of Executive’s active employment. 
 (b) Notwithstanding the provisions of Section 7.1(a), no payment or benefit shall
be paid or provided unless and until Executive has incurred a “separation from service” (as that term is defined under Section 409A) at the time his employment is terminated. 

(c) Notwithstanding the provisions of Section 7.1(a), in the event Executive is a “specified employee” (as that term is
defined under Section 409A) at the time his employment is terminated, no payments hereunder shall be made, or benefits conferred, prior to the first day that is six (6) months after the date of his “separation from service” (as
defined in Section 7.1(b)); provided that this Section 7.1(c) shall be effective only to the extent that such payment or provision of benefits would constitute “nonqualified deferred compensation” under Section 409A. Any
payments that are subject to the “specified employee” six- (6-) month delay under Section 409A shall be accumulated and paid, and any delayed provision of benefits and reimbursements shall commence (with retroactive effect), within
the first five (5) business days after the expiration of such six- (6-) month delay; provided that if the five- (5-) day period begins in one calendar year and ends in another, Executive shall not have the right to designate the taxable year of
payment. 
 (d) The payment of any amounts or provision of any benefits under this Section 7.1 are
conditioned upon the execution and non-revocation of a separation agreement and release in a form mutually acceptable to Executive and the Company. Base Salary continuation and medical and dental coverage (pursuant to Sections 7.1(a)(i) and
(ii) above) shall commence within forty-five (45) days following Executive’s termination of employment; provided that Executive has delivered an executed the separation agreement and release to Cedar Fair and the seven (7) day
statutory period during which Executive may revoke the release has expired before such forty-fifth (45th) day and provided further that if such forty-five- (45-) day period begins in one calendar year and ends in a second calendar year, payment shall always be made in the second calendar year (i.e.,
the Severance Payment Effective Date). If Executive fails timely to sign and deliver the separation agreement and release, Cedar Fair shall not be obligated to provide any Base Salary continuation and benefits. 

 

	8.	Termination Upon Executive’s Death. 

 In the event of Executive’s death, this Agreement shall terminate and Cedar Fair shall pay to Executive’s estate any compensation and benefits earned but not yet paid as of the date of
Executive’s death. Such payment shall be made within ninety (90) days following Executive’s death; provided that where the ninety- (90-) day period begins in 

  
 - 6 -

 
one calendar year and ends in another year, neither the estate nor Executive’s beneficiary(ies) shall have the right to designate the taxable year of payment. Upon Executive’s death,
during the remainder of the Employment Term (not in excess of twenty-four (24) months following Executive’s death), Executive’s spouse and eligible dependents, subject to the terms and conditions of Section 5(b) hereof, shall
have the right to continue medical and dental insurance coverage during such remainder of the Employment Term pursuant to COBRA Law, and from the date of Executive’s death through the remainder of the Employment Term, Executive’s spouse
and eligible dependents shall be required to pay the full cost of the amount for such coverage (both COBRA Law continuee and employer) on an after-tax basis and, if permitted under applicable law, as determined in good faith by Cedar Fair, Cedar
Fair shall reimburse such COBRA Law continuee(s) for the payments on a monthly basis. 
  

	9.	Termination for Disability. 

 (a) Cedar Fair may terminate Executive’s employment for “Disability” if Executive is “Disabled” except as otherwise prohibited by law. For purposes of this Agreement, Executive
shall be considered Disabled only if, as a result of his incapacity due to physical or mental illness, he shall have been absent from his duties with Cedar Fair on a full-time basis for a period of six (6) consecutive months. 

(b) Any termination of employment pursuant to this Section 9 shall be deemed a termination by Cedar Fair other than for Cause, and
Executive shall be entitled to compensation and benefits in the same amounts and subject to the same terms and conditions as provided in Section 7 or Section 7.1, as the case may be. Notwithstanding the preceding sentence, monetary
payments actually received by Executive from any bona fide short-term or long-term disability plan maintained by Cedar Fair shall be used to reduce any Base Salary or incentive compensation payments made by Cedar Fair pursuant to this
Section 9; provided that: 
 (i) The disability plan payments qualify as “disability pay” under Treasury
Regulation Section 31.3121(v)(2)-1(b)(4)(iv)(C); 
 (ii) Such reduction does not otherwise affect the time of payment of
such Base Salary or the provision of benefits; 
 (iii) The disability plan covers a substantial number of employees and, was in
effect before Executive became Disabled; and 
 (iv) Any subsequent amendment of such plan or any change in the benefits payable
under such plan results from actions taken by an independent third party or, if taken by Cedar Fair, that they are generally applicable to a substantial number of other employees. 

 

	10.	Termination for Cause. 

 (a) Cedar Fair may terminate Executive’s employment for Cause. For the purposes of this Agreement, “Cause” shall mean (i) Executive’s conviction of, or plea of

  
 - 7 -

 
guilty or nolo contendere to a felony; (ii) upon continued failure by Executive to substantially perform his duties with Cedar Fair which failure results in significant injury or damage,
including damage to the reputation of Cedar Fair; (iii) the failure of Executive to comply with the provisions of Sections 13 and 14 hereof; (iv) violation of Cedar Fair’s policies or procedures relating to discrimination and/or
harassment in the workplace; (v) the commission of a fraudulent act or practice by Executive affecting Cedar Fair; (vi) an act of gross negligence or gross misconduct that relates to the affairs of Cedar Fair; or (vii) an act or acts
of dishonesty or significant impropriety by Executive resulting or intended to result directly or indirectly in gain or personal enrichment (monetary or otherwise) to Executive at the expense of or detriment to Cedar Fair. 

(b) If Executive’s employment shall be terminated for Cause, Cedar Fair shall pay Executive, in a lump sum, on
the twentieth (20th) business day following the date
of termination for Cause, his Base Salary through the date of his termination. 
 (c) Cedar Fair shall have no further
obligations to Executive under this Agreement. 
  

	11.	Termination By Resignation. 

 In the event Executive resigns his employment, all benefits and compensation shall cease on the last day of Executive’s active employment with Cedar Fair. 

 

	12.	Change in Control. 

(a) If, at any time upon or within twenty-four (24) months after a Change in Control occurs, Executive’s employment with Cedar
Fair is involuntarily terminated, other than for Cause, or Executive incurs a “Deemed Termination” hereunder, Cedar Fair shall pay/provide to Executive, in addition to any payments that may be due under the change in control provisions of
other plans and programs that Cedar Fair may have or establish from time to time and in which he would be entitled to participate pursuant to the terms of the applicable plan, the following cash payment and benefits: 

(i) Two and one-half (2-1/2) times average annual “Cash Compensation” for the previous three (3) years (or for the period
of such Executive’s employment with Cedar Fair if less than three (3) years) preceding the calendar year in which the Change in Control of Cedar Fair occurred, less one United States dollar (US $1.00). “Cash Compensation” is
defined, with respect to any calendar year, as (i) the total salary payable in such calendar year, (ii) the annual cash bonuses earned by the Executive during such calendar year, and accrued by the Company and/or the Partnership with
respect to such calendar year, notwithstanding the fact that a portion of such bonuses may be paid to the Executive by March 15 of the following calendar year in compliance with the short-term deferral rule under Section 409A, and
(iii) respect to any multi-year cash bonuses, the amount actually paid in such calendar year. For the avoidance of doubt, the term Cash Compensation does not include payments or benefits to the Executive under any employee benefit or fringe
benefit plan, program, or arrangement or awards or payments under the Cedar Fair, L.P. 

  
 - 8 -

 
Amended and Restated Senior Management Long-Term Incentive Compensation Plan, the Cedar Fair, L.P. Amended and Restated 2000 Equity Incentive Plan, or the Cedar Fair, L.P. Amended and Restated
Supplemental Retirement Program, as such plans, programs, or arrangements currently exist or are hereafter amended. 
 (ii)
Executive shall have the right to continue medical and dental insurance coverage during the thirty- (30-) month period after the date of such involuntary termination offered pursuant to the COBRA Law, and from the Executive’s termination of
employment date through the end of such thirty- (30-) month period Executive shall be required to pay the full cost of the amount for such coverage (both employee and employer) on an after-tax basis and, if permitted under applicable law, as
determined in good faith by Cedar Fair, Cedar Fair shall reimburse Executive for the payments on a monthly basis. In compliance with Section 409A: 
 (A) The amount of expenses eligible for reimbursement during any calendar year shall not affect the amount of expenses eligible for reimbursement in any other calendar year; 

(B) The reimbursement of an eligible expense shall be made on or before December 31 of the calendar year following the calendar year
in which the expense was incurred; and 
 (C) The right to reimbursement shall not be subject to liquidation or exchange for
another benefit. 
 Notwithstanding the foregoing, the Company shall not provide such insurance benefits upon the reemployment of
Executive. 
 (iii) Anything in this Agreement to the contrary notwithstanding, Executive and Cedar Fair agree that in
no event shall the present value of all payments, distributions and benefits provided to Executive or for Executive’s benefit pursuant to the terms of this Agreement or otherwise which constitute a “parachute payment”
when aggregated with other payments, distributions, and benefits which constitute “parachute payments,” exceed two hundred ninety-nine percent (299%) of Executive’s “base amount.” As used herein, “parachute
payment” has the meaning ascribed to it in Section 280G(b)(2) of the Code, without regard to Code Section 280G(b)(2)(A)(ii); and “base amount” has the meaning ascribed to it in Code Section 280G and the
regulations thereunder. If the “present value”, as defined in Code Sections 280G(d)(4) and 1274(b)(2), of such aggregate “parachute payments” exceeds the 299% limitation set forth herein, such payments, distributions and
benefits shall be reduced by Cedar Fair in accordance with the order of priority set forth below so that such reduced amount will result in no portion of the payments, distributions and benefits being subject to excise

  
 - 9 -

 
tax. Such payments, distributions and benefits will be reduced by Cedar Fair in accordance with the following order of priority unless the Executive elects in writing a different order (provided,
however, that such election shall be subject to Cedar Fair approval if made on or after the date on which the event that triggers the payments occur): (A) reduction of cash payments; (B) cancellation of accelerated vesting of unit awards;
and (C) reduction of employee benefits. If acceleration of vesting of unit award compensation is to be reduced, such acceleration of vesting shall be cancelled in the reverse order of the date of grant of the Executive’s unit awards unless
the Executive elects in writing a different order for cancellation. 
 Cedar Fair shall make cash payments and begin to provide
benefits under this Section 12(a) to Executive not later than sixty (60) days following the date of such involuntary termination (other than for Cause) or Deemed Termination; provided that the terms and conditions of Sections 7(b), 7(c),
and 7(d), or Sections 7.1(b), 7.1(c) and 7.1(d), except as the case maybe, are satisfied; and provided further, if the sixty- (60-) day period is applicable (because the six- (6-) month delay of Section 7(c), or 7.1(c) as the case may be, is
not applicable), Executive shall not have the right to designate the taxable year of payment if such sixty- (60-) day period spans two calendar years. Except as provided in this Section 12, Cedar Fair shall have no further obligations to
Executive under this Agreement upon a termination of employment upon or within twenty-four (24) months after a Change in Control. 
 (b) For purposes of this Section 12, a “Change in Control” shall mean a change in control of Cedar Fair, L.P., if, by analogy to the rules applicable to corporations under
Section 409A, Cedar Fair, L.P., would be considered to have undergone a “change in control event” under Section 409A. 
 (c) For purposes of this Section 12, a “Deemed Termination” shall mean: 
 (i) Forced relocation of Executive’s place of employment by the greater of thirty-five (35) miles or the distance constituting a “material change in the geographic location” of
Executive’s place of employment within the meaning of Section 409A; 
 (ii) Reduction of Executive’s Base Salary;

 (iii) Significant reduction of Executive’s responsibility; or 

(iv) Job elimination. 
 Notwithstanding the foregoing, Executive shall not have incurred a Deemed Termination unless: 
 (A) Executive incurs a “separation from service” (as defined in Section 7(b) or Section 7.1(b), as the case may be) within the 

  
 - 10 -

 
twenty-four (24) month period following the effective date of the Change in Control; and 
 (B) Executive provides notice to Cedar Fair (or its successor) within ninety (90) days of the event that constitutes the Deemed Termination; and 

(C) Cedar Fair (or its successor) has at least thirty (30) days in which to remedy its action. 

 

	13.	Disclosure of Information. 

 (a) Executive acknowledges that it is the policy of Cedar Fair to maintain as secret and confidential all “Confidential Information” (as defined herein). The parties hereto recognize that the
services to be performed by Executive pursuant to this Agreement are special and unique, and that by reason of his employment by Cedar Fair after the Effective Date, Executive will acquire, or may have acquired, Confidential Information. Executive
recognizes that all such Confidential Information is and shall remain the sole property of Cedar Fair, free of any rights of Executive, and acknowledges that Cedar Fair has a vested interest in assuring that all such Confidential Information remains
secret and confidential. Therefore, in consideration of Executive’s employment with Cedar Fair pursuant to this Agreement, Executive agrees that at all times from after the Effective Date, he will not, directly or indirectly, disclose to any
person, firm, company or other entity (other than Cedar Fair) any Confidential Information, except as specifically required in the performance of his duties hereunder, without the prior written consent of Cedar Fair, except to the extent that
(i) any such Confidential Information becomes generally available to the public, other than as a result of a breach by Executive of this Section 13 or by any other executive officer of Cedar Fair subject to confidentiality obligations, or
(ii) any such Confidential Information becomes available to Executive on a non-confidential basis from a source other than Cedar Fair, or its executive officers or advisors; provided, that such source is not known by Executive to be bound by a
confidentiality agreement with, or other obligation of secrecy to, Cedar Fair or another party. In addition, it shall not be a breach of the confidentiality obligations hereof if Executive is required by law to disclose any Confidential Information;
provided, that in such case, Executive shall (a) give Cedar Fair the earliest notice possible that such disclosure is or may be required and (b) cooperate with Cedar Fair, at Cedar Fair’s expense, in protecting to the maximum extent
legally permitted, the confidential or proprietary nature of the Confidential Information which must be so disclosed. The obligations of Executive under this Section 13 shall survive any termination of this Agreement. During the Employment
Term, Executive shall exercise all due and diligent precautions to protect the integrity of the business plans, customer lists, statistical data, financial data and compilation, agreements, contracts, manuals or other documents of Cedar Fair which
embody the Confidential Information, and upon the expiration or the termination of the Employment Term, Executive agrees that all Confidential Information in his possession, directly or indirectly, that is in writing or other tangible form (together
with all duplicates thereof) will forthwith be returned to Cedar Fair and will not be retained by Executive or furnished to any person, either by sample, facsimile film, audio 

  
 - 11 -

 
or video cassette, electronic data, verbal communication or any other means of communication. Executive agrees that the provisions of this Section 13 are reasonably necessary to protect the
proprietary rights of Cedar Fair in the Confidential Information and its trade secrets, goodwill and reputation. 
 (b) For
purposes hereof, the term “Confidential Information” means all information developed or used by Cedar Fair relating to the “Business” (as herein defined), operations, employees, customers, suppliers and distributors of
Cedar Fair, including, but not limited to, customer lists, purchase orders, financial data, pricing information and price lists, business plans and market strategies and arrangements and any strategic plan, all books, records, manuals, advertising
materials, catalogues, correspondence, mailing lists, production data, sales materials and records, purchasing materials and records, personnel records, quality control records and procedures included in or relating to the Business or any of the
assets of Cedar Fair and all trademarks, copyrights and patents, and applications therefore, all trade secrets, inventions, processes, procedures, research records, market surveys and marketing know-how and other technical papers. The term
“Confidential Information” also includes any other information heretofore or hereafter acquired by Cedar Fair and deemed by it to be confidential. For purposes of this Agreement, the term “Business”
shall mean (i) the business of leisure/theme parks, amusement and/or water parks, (ii) leisure theme parks, (iii) any other business engaged in or being developed (including production of materials used in Cedar Fair’s
businesses) by Cedar Fair, or being considered by Cedar Fair, at the time of Executive’s termination, and (iv) any joint venture, partnership or agency arrangements relating to the businesses described in (b)(i) through (iii) above.

 (c) Return of Company Property. Executive agrees that following the termination of his employment for any reason, he
shall return all property of the Company, its subsidiaries, affiliates and any divisions thereof he may have managed which is then in or thereafter comes into his possession, including, but not limited to, documents, contracts, agreements, plans,
photographs, books, notes, electronically stored data and all copies of the foregoing as well as any automobile or other materials or equipment supplied by the Company to Executive. 

(d) Inventions. Any and all inventions made, developed or created by Executive (whether at the request or suggestion of Cedar Fair
or otherwise, whether alone or in conjunction with others, and whether during regular working hours or otherwise) during the period of his employment with Cedar Fair, which may be directly or indirectly useful in, or relate to, the Business of Cedar
Fair, shall be promptly and fully disclosed by Executive to the Chief Executive Officer of Cedar Fair, and shall be Cedar Fair’s exclusive property as opposed to Executive’s. Executive shall promptly deliver to the Chief Executive Officer
of Cedar Fair all papers, drawings, models, data and other material relating to any invention made, developed or created by him as aforesaid. Executive hereby assigns any and all such inventions to Cedar Fair and hereby agrees to execute and deliver
such agreements, certificates, assignments or other documents as may be necessary to effect the assignment to Cedar Fair of any and all such inventions as contemplated by this Section 13. Executive shall, upon Cedar Fair’s request and
without any payment therefor, execute any documents necessary or advisable in the opinion of 

  
 - 12 -

 
Cedar Fair’s counsel to direct issuance of patents or copyrights of Cedar Fair with respect to such inventions as are to be in Cedar Fair’s exclusive property as against Executive under
this Section 13 or to vest in Cedar Fair title to such inventions as against Executive, the expense of securing any such patent or copyright, to be borne by Cedar Fair. 

 

	14.	Noncompetition. 

(a) Executive agrees that, during the Employment Term and for a period of twelve (12) months following the termination date of his
employment with Cedar Fair for any reason (the “Noncompetition Period”), Executive will not directly or indirectly, own, manage, operate, control or participate in the ownership, management or control of, or be connected as an
officer, employee, partner, director, or otherwise with, or have any financial interest in, or aid, consult, advise or assist anyone else in the conduct of, any entity or business (i) in which 10% or more of whose annual revenues are derived
from a Business as defined above, including but not limited to Six Flags Entertainment Corporation (formerly Six Flags, Inc.) or Sea World Parks & Entertainment (formerly Busch Entertainment Corporation) or any of their respective
affiliated companies; and (ii) which conducts business in any locality or region of the United States, Canada, Mexico, Europe or Asia (whether or not such competing entity or business is physically located in the United States, Canada, Mexico,
Europe or Asia), where Business is being conducted by Cedar Fair on the date Executive’s employment is terminated hereunder. This includes but is not limited to Six Flags Entertainment Corporation (formerly Six Flags, Inc.) and Sea World
Parks & Entertainment (formerly Busch Entertainment Corporation) or any of their respective affiliated companies. Notwithstanding the forgoing, Executive’s ownership of securities of a public company engaged in competition with Cedar
Fair not in excess of 5% of any class of such securities shall not be considered a breach of the covenants set forth in this Section 14(a). This provision shall not preclude the Employee from working in a non-executive position in the
entertainment industry provided the role does not involve the same or similar duties, responsibilities or assignments as those the Executive performed while employed by Cedar Fair. 

(b) Executive agrees that, at all times from after the Effective Date, Executive will not, either personally or by his agent or by
letters, circulars or advertisements, and whether for himself or on behalf of any other person, company, firm or other entity, (i) seek to persuade any employee of Cedar Fair to discontinue his or her status or employment therewith or to become
employed in a business or activities likely to be competitive with the Business; or (ii) solicit or employ any such person at any time within twelve (12) months following the date of cessation of employment of such person with Cedar Fair,
in any locality or region of the United States or Canada and in each and every other area where Cedar Fair conducts its Business. 
 (c) Executive expressly agrees and understands that the remedy at law for any breach by him of Sections 13 and 14 will be inadequate and that the damages flowing from such breach are not readily
susceptible to being measured in monetary terms. Accordingly, it is acknowledged that upon adequate proof of a violation by Executive of any provision of Sections 13 and 14, Cedar Fair shall be entitled to immediate injunctive relief and may
obtain a temporary order restraining any threatened or further breach. 

  
 - 13 -

 
Nothing in Sections 13 and 14 shall be deemed to limit Cedar Fair’s remedies at law or in equity for any breach by Executive of any of the provisions of Sections 13 and 14 which may be
pursued or availed of by Cedar Fair. In addition, Executive’s violation either of Sections 13 or 14 shall result in Executive’s forfeiture and repayment of any monetary payments and/or benefits provided to Executive subsequent to the
cessation of his employment. 
 (d) Executive has carefully considered the nature and extent of the restrictions upon Executive
and the rights and remedies conferred upon Cedar Fair under Sections 13 and 14, and hereby acknowledges and agrees that the same are reasonable in time and territory, are intended to eliminate competition which otherwise would be unfair to Cedar
Fair, do not stifle the inherent skill and experience of Executive, would not operate as a bar to Executive’s sole means of support, are fully required to protect the business interests of Cedar Fair and do not confer a benefit upon Cedar Fair
disproportionate to the detriment to Executive. 
  

	15.	Assignment. 

 This
Agreement may not be assigned by Executive or Cedar Fair except that Cedar Fair may assign this Agreement to any affiliate of Cedar Fair or any successor in interest to Cedar Fair. 

 

	16.	Successors, Binding Agreement. 

 (a) Cedar Fair will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of Cedar Fair to expressly
assume and agree to perform this Agreement in the same manner and to the same extent that Cedar Fair would be required to perform it if no such succession had taken place. 
 (b) Failure of Cedar Fair to obtain an agreement to assume and perform this Agreement prior to the effectiveness of any such succession shall be a breach of this Agreement; and Executive shall be entitled
to compensation and benefits from Cedar Fair in the same amounts and on the same terms and conditions as would apply under Section 7 or Section 7.1, as the case may be, as if Executive was terminated other than for Cause; provided that:

 (i) Executive incurs a “separation from service” (as defined in Section 7(b) hereof or Section 7.1(b), as
the case may be) within the twenty-four (24-) month period following the effective date of the succession; and 
 (ii) Executive
provides notice within ninety (90) days of the effective date of the succession to the successor to Cedar Fair that it is a breach of this Agreement not to assume and agree to perform the Agreement; and 

(iii) The successor has at least thirty (30) days in which to remedy its inaction. 

  
 - 14 -

	17.	Amendment or Modification. 

 This Agreement shall supersede and replace the 2010 Agreement. This Agreement shall, for so long as the provisions of Section 12 hereof and this Agreement remain in effect, also supersede and replace
Executive’s participation in, and rights to participate in and receive benefits under, the Cedar Fair, L.P. Amended and Restated Executive Change in Control Plan, as amended from time to time. No provisions of this Agreement may be amended
modified, waived, or discharged unless such modification, waiver, or discharge is agreed to in writing signed by Executive and such officer as may be specifically designated by the Board. 

 

	18.	Right to Amend or Terminate Plans or Programs. 

 Nothing in this Agreement shall be construed to prevent or otherwise inhibit the right of the Company to alter, amend, discontinue, or terminate any plan, program, fringe benefit, or perquisite hereunder;
provided that any such action is of general application to all similarly situated executives and is not specific to Executive. 
  

	19.	Arbitration. 

 (a)
Executive and Cedar Fair agree that any dispute, claim or controversy arising out of or relating to this Agreement, including but not limited to claims of employment discrimination and/or claims over whether Executive’s employment was
terminated for “Cause,” except as set forth in Section 19(f) below, shall be settled by final and binding arbitration, and judgment upon the award of the arbitration panel may be entered and enforced in any federal or state court
having jurisdiction over the parties. Executive expressly acknowledges that this agreement to arbitrate applies without limitation to any claims of unlawful discrimination, harassment, retaliation, wrongful discharge, constructive discharge, claims
related to the payment of wages or benefits, contract claims and tort claims under federal, state or local law. By agreeing to submit any and all claims (except as set forth in Section 19(f) below) to arbitration, Executive and Cedar Fair
expressly waive any right that they may have to resolve such claims through any other means, including a jury trial or court trial. 
 (b) Arbitration shall be conducted by a panel of three (3) arbitrators in accordance with the arbitration rules of the American Arbitration Association (“AAA”). Within twenty (20) days
after notice from one party to the other of the notifying party’s election to arbitrate, each party shall select one (1) arbitrator. Within twenty (20) days after the selection of the two (2) arbitrators by the parties, said
arbitrators shall in turn select a third arbitrator. If the two arbitrators cannot agree upon the selection of a third arbitrator, the parties agree that the third arbitrator shall be appointed by the AAA. 

(c) Both parties shall be entitled to representation by individuals of their choice and to written information directly relevant to the
arbitration of their claims. Each party will be entitled to take three depositions, not including any depositions necessary to perpetuate the testimony of unavailable witnesses. The arbitration panel shall have authority to award any remedy or
relief that an Ohio or federal court in Ohio could grant 

  
 - 15 -

 
in conformity with applicable law on the basis of the claims actually made in the arbitration. The arbitration panel shall not have the authority either to abridge or change substantive rights
available under existing law. Should Executive prevail in arbitration, Cedar Fair shall reimburse Executive for reasonable costs, expenses, and attorneys’ fees incurred by Executive. The arbitration panel shall issue a written award listing the
issues submitted by the parties, together with a succinct explanation of the manner in which the panel resolved or decided the issues. The costs of the arbitration panel shall be paid by Cedar Fair. 

(d) All arbitration proceedings, including the arbitration panel’s decision and award, shall be confidential. Neither party shall
disclose any information or evidence adduced by the other in the arbitration proceedings, or the panel’s award except (i) to the extent that the parties agree otherwise in writing; (ii) as may be appropriate in any subsequent
proceedings between the parties such as to enforce the arbitration award; or (iii) as may otherwise be compelled by law. 

(e) The terms of this arbitration procedure are severable. The invalidity or unenforceability of any provisions herein shall not affect
the application of any other provisions. Where possible, consistent with the procedure, any otherwise invalid provision of the procedure will be governed by the Federal Arbitration Act as will any actions to compel, enforce, vacate or confirm
proceedings, awards, orders of the arbitration panel, or settlements under the procedure. 
 (f) The parties agree and
acknowledge that the promises and agreements set forth in Sections 13 (Disclosure of Information) and 14 (Noncompetition) of this Agreement shall not be subject to the arbitration provisions set forth herein in Section 19, but rather such
claims may be brought in any federal or state court of competent jurisdiction. Any claims made by Executive, for workers’ compensation (except retaliation claims), or unemployment benefits are also excepted from the arbitration provisions set
forth herein in Section 19. 
  

	20.	Survival of Certain Provisions. 

 The provisions of Sections 13 and 14 shall survive the termination of this Agreement. 
  

	21.	Tax Reporting and Withholding. 

 The Company (and any agent of the Company) shall report all income required to be reported, and withhold from any payment under the Agreement the amount of withholding taxes due, in the opinion of the
Company in respect of such income or payment and shall take any other action as may be necessary, in the opinion of the Company, to satisfy all obligations for the reporting of such income and payment of such taxes. The Company, the Board, or any
delegatee shall not be held liable for any taxes, penalties, interest, or other monetary amounts owed by Executive or other person as a result of the deferral or payment of any amounts under this Agreement or as a result of

  
 - 16 -

 
the Company’s administration of amounts subject to the Agreement, except as expressly provided herein. 
  

	22.	Section 409(A). 

 To the extent applicable, Cedar Fair and Executive intend that this Agreement comply with Section 409A. Cedar Fair and Executive hereby agree that this Agreement shall be construed in a manner to
comply with Section 409A and that should any provision be found not in compliance with Section 409A, the parties are hereby contractually obligated to execute any and all amendments to this Agreement deemed necessary and required by legal
counsel for Cedar Fair to achieve compliance with Section 409A. By execution and delivery of this Agreement, Executive irrevocably waives any objections he may have to the amendments required by Section 409A. Cedar Fair and Executive also
agree that in no event shall any payment, benefit, or reimbursement required to be made pursuant to this Agreement that is considered “nonqualified deferred compensation” within the meaning of Section 409A be accelerated in violation
of Section 409A or be made to Executive unless he has incurred a “separation from service” (as defined in Section 409A). In the event Executive is a “specified employee” (as defined in Section 409A) so that
payments, benefits, and/or reimbursements that are nonqualified deferred compensation cannot commence until the lapse of six (6) months after a separation from service, then any such payments, benefits, or reimbursements that are required to be
paid or provided in a single lump sum may not be made or provided until the date which is six (6) months after Executive’s separation from service; specifically such lump sum payments shall be paid within the first five (5) business
days of the seventh (7th) month following Executive’s separation from service. Furthermore, the first six (6) months of any such payments, benefits, or reimbursements of nonqualified deferred compensation that are required to be paid
or provided in installments shall be accumulated and paid or provided (with retroactive effect) within the first five (5) business days of the seventh (7th) month following Executive’s separation from service. In all cases, if the
five- (5-) day period begins in one calendar year and ends in another, Executive shall not have the right to designate the taxable year of payment. All remaining installment payments or periodic benefits shall be made or provided as they would
ordinarily have been under the provisions of this Agreement. If, notwithstanding actions taken in compliance with this Section 22, Executive incurs taxes under Section 409A, Cedar Fair shall, subject to the same terms and conditions of
Sections 7(b), 7(c), and 7(d), or Sections 7.1(b), 7.1(c) and 7.1(d), as the case may be, make gross-up payments to Executive equal to all federal taxes and interest imposed on Executive, if any, under Section 409A on the payments and benefits
provided under this Agreement and the federal, state, and local taxes imposed upon Executive as a result of Cedar Fair’s payment of such taxes; provided that such taxes do not result from Executive’s choice to retain the right to payments
and/or benefits that were available to Executive prior to the amendment and restatement of this Agreement for Section 409A; and provided further that such gross-up payments shall be made by the end of Executive’s taxable year next
following his taxable year in which he remits such taxes under Section 409A. 

  
 - 17 -

	23.	Assignment and Alienation Prohibited. 

 Neither Executive, his surviving spouse, nor other beneficiaries shall have the power or right to transfer, assign, anticipate, hypothecate, mortgage, commute, modify, or otherwise encumber, in advance,
any of the amounts payable hereunder, nor shall any of such payments be subject to seizure for the payment of any debts, judgments, alimony, or separate maintenance owed by Executive or his beneficiary, nor be transferable by operation of law in the
event of bankruptcy, insolvency, or otherwise. 
  

	24.	Captions. 

Captions are not controlling for interpretation of this Agreement. 

 

	25.	Waiver. 

 The
waiver of the enforcement of any provision by a party hereto shall not be construed as the waiver of any other provision of this Agreement. 
  

	26.	Validity. 

 The
invalidity or unenforceability of any one or more provisions of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of the State of Ohio, without giving effect to its conflicts of laws provisions. 
  

	27.	Counterparts. 

This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument. 
 [The Remainder of This Page Has Been Intentionally Left Blank.] 

  
 - 18 -

 
			
	CEDAR FAIR, L.P.
		
	By:	 	 /s/ Richard L.
Kinzel

			
		
	Printed Name	 	 Richard L.
Kinzel

			
		
	Title:	 	 Chief Executive Officer

		
	Date:	 	 6/27/11

	
	CEDAR FAIR MANAGEMENT, INC.
		
	By:	 	 /s/ Richard L.
Kinzel

			
		
	Printed Name	 	 Richard L.
Kinzel

			
		
	Title:	 	 Chief Executive Officer

		
	Date:	 	 6/27/11

	
	MAGNUM MANAGEMENT CORP.
		
	By:	 	 /s/ Richard L.
Kinzel

			
		
	Printed Name	 	 Richard L.
Kinzel

			
		
	Title:	 	 Chief Executive Officer

		
	Date:	 	 6/27/11

	
	 /s/ H. Philip Bender

	H. PHILIP BENDER
	Date:	 	 6/27/11

  
 - 19 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}]]