Document:

EX-10.3

 Exhibit 10.3 

SUPPLEMENT NO. 2 dated as of May 6, 2015, to the Security Agreement (the “Security Agreement”), dated as of
December 1, 2009, among the Grantors identified therein and Bank of America, N.A., as Collateral Agent. 
 A. Reference is made to the
Credit Agreement dated as of December 1, 2009 (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among SeaWorld Parks and Entertainment, Inc., a Delaware
corporation (the “Borrower”), SeaWorld Entertainment, Inc., the direct parent of the Borrower, and the other Guarantors from time to time party thereto, Bank of America, N.A., as Administrative Agent and Collateral Agent, each
lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”), Bank of America, N.A., as L/C Issuer and Swing Line Lender, and the other agents named therein. 

B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement and
the Security Agreement. 
 C. The Grantors have entered into the Security Agreement in order to induce the Lenders to make Loans and the L/C
Issuers to issue Letters of Credit. Section 6.13 of the Security Agreement provides that additional Restricted Subsidiaries of the Borrower may become Grantors under the Security Agreement by execution and delivery of an instrument in the form
of this Supplement. The undersigned (each a “New Grantor”) is executing this Supplement in accordance with the requirements of the Credit Agreement to become a Grantor under the Security Agreement in order to induce the Lenders to
make additional Loans and the L/C Issuers to issue additional Letters of Credit and as consideration for Loans previously made and Letters of Credit previously issued. 

Accordingly, the Collateral Agent and each New Grantor agree as follows: 

SECTION 1. In accordance with Section 6.13 of the Security Agreement, each New Grantor by its signature below becomes a Grantor under the
Security Agreement with the same force and effect as if originally named therein as a Grantor and each New Grantor hereby (a) agrees to all the terms and provisions of the Security Agreement applicable to it as a Grantor thereunder and
(b) represents and warrants that the representations and warranties made by it as a Grantor thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, each New Grantor, as security for the payment and
performance in full of the Secured Obligations, does hereby create and grant to the Collateral Agent, its successors and assigns, for the benefit of the Secured Parties, their successors and assigns, a security interest in and lien on all of the New
Grantor’s right, title and interest in and to the Collateral (as defined in the Security Agreement) of the New Grantor. Each reference to a “Grantor” in the Security Agreement shall be deemed to include each New Grantor. The Security
Agreement is hereby incorporated herein by reference. 
 SECTION 2. Each New Grantor represents and warrants to the Collateral Agent and the
other Secured Parties that this Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as such enforceability may be
limited by Debtor Relief Laws and by general principles of equity. 
 SECTION 3. This Supplement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Collateral Agent shall have
received a counterpart of this Supplement that bears the signature of each New Grantor and the Collateral Agent has executed a counterpart hereof. Delivery of an executed signature page to this Supplement by facsimile transmission or other
electronic communication shall be as effective as delivery of a manually signed counterpart of this Supplement. 

 SECTION 4. Each New Grantor hereby represents and warrants that (a) set forth on Schedule I
attached hereto is a true and correct schedule of the information required by Schedules II and III to the Security Agreement applicable to it and its subsidiaries legal name, jurisdiction of formation and location of Chief Executive Office and
(b) set forth under its signature hereto is the true and correct legal name of each New Grantor, its jurisdiction of formation and the location of its chief executive office. 

SECTION 5. Except as expressly supplemented hereby, the Security Agreement shall remain in full force and effect. 

SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 

SECTION 7. If any provision of this Supplement is held to be illegal, invalid or unenforceable, the legality, validity and enforceability of
the remaining provisions of this Supplement shall not be affected or impaired thereby. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

SECTION 8. All communications and notices hereunder shall be in writing and given as provided in Section 6.01 of the Security Agreement.

 SECTION 9. Each New Grantor agrees to reimburse the Collateral Agent for its reasonable out-of-pocket expenses in connection with the
execution and delivery of this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Collateral Agent. 

[Signature pages follow] 

 IN WITNESS WHEREOF, each New Grantor and the Collateral Agent have duly executed this Supplement
to the Security Agreement as of the day and year first above written. 
  

					
	 SWBG ORLANDO CORPORATE OPERATIONS GROUP, LLC

			
			By:		 /s/ James M. Heaney

			Name:		James M. Heaney
			Title:		Chief Financial Officer
		
			 Legal Name: SWBG Orlando Corporate

Operations Group, LLC
 Jurisdiction of Formation: Florida

Location of Chief Executive Office: 9205
 Southpark Center Loop,
Suite 400, Orlando, FL 32819

	
	 SEA HOLDINGS I, LLC

			
			By:		 /s/ James M. Heaney

			Name:		James M. Heaney
			Title:		Chief Financial Officer
		
			 Legal Name: Sea Holdings I, LLC

Jurisdiction of Formation: Florida
 Location of Chief Executive
Office: 9205
 Southpark Center Loop, Suite 400, Orlando, FL 32819

 [Signature Page to Supplement No. 2] 

 
			
	BANK OF AMERICA, N.A.,
as Collateral Agent
		
	By:		 /s/ David H. Strickert

	Name:		David H. Strickert
	Title:		Managing Director

 [Signature Page to Supplement No. 2] 

 Schedule I 

to the Supplement No 2 to the 

Security Agreement 
 EQUITY
INTERESTS 
  

											
	 Issuer
	  	Number of
Certificate	  	Registered
Owner	  	Number and
Class of
Equity Interest	  	Percentage
of Equity Interests	 
	SWBG Orlando Corporate Operations Group, LLC	  	N/A	  	SeaWorld Parks &
Entertainment, Inc.	  	N/A	  	 	100	% 
					
	Sea Holdings I, LLC	  	N/A	  	SeaWorld Parks &
Entertainment, Inc.	  	N/A	  	 	100	% 

 INSTRUMENTS AND DEBT SECURITIES 

None.EX-10.4

 Exhibit 10.4 

SEAWORLD ENTERTAINMENT, INC. 

OUTSIDE DIRECTOR COMPENSATION POLICY 

Effective March 4, 2014 

Amended and Restated April 3, 2014 

Amended and Restated as of March 3, 2015 

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 Lead Director Fee. In addition to the Annual Fee, the Company will pay any Outside Director who serves as the
Lead Director (as defined in the Company’s Corporate Governance Guidelines) an annual fee of $25,000 for such service (the “Annual Lead Director Fee”). At the election of the Outside Director, the Lead Director 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. 

 D. Annual Committee Chairperson Fee. In addition to the Annual Fee, the
Annual Board Chairperson Fee and the Annual Lead Director 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	  

 E. 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. 

F. 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. 
 G.
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. 
 H. 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.I. 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. 

  
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 I. 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. 

J. Stock Election with respect to Cash Compensation. Notwithstanding anything to the contrary in this Section I, an
Outside Director may elect (an “Election”) to receive shares of Common Stock in lieu of all or a portion of the Annual Fee, the Annual Board Chairperson Fee, the Annual Lead Director Fee, the Annual Committee Chairperson Fee, and/or
the fees payable in respect of service on a special committee (if any), in each case, to the extent applicable (the “Election Amount”). An Outside Director must make any such Election in writing to the Company at least 15 days prior
to the applicable payment date of the cash fee(s). If a timely Election made, the Outside Director will receive a number of shares of Common Stock (rounded down to the nearest whole number) with a Fair Market Value equal to the Election Amount,
measured as of the date such fee(s) would normally be paid to the Outside Director. Any remaining portion of the Election Amount which would have resulted in the delivery of fractional shares of Common Stock to the Outside Director will be paid to
the Outside Director in cash on the normal payment date of such fee(s). 
  

	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 

  
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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. 

  
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