Document:

EX-10.2

 Exhibit 10.2 

Execution Version 
 EMPLOYMENT
AGREEMENT 
 This Employment Agreement (this “Agreement”), dated October 4, 2017, is made 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 Matthew A. Ouimet
(the “Executive”). 
 WHEREAS, Cedar Fair, L.P. is affiliated with several corporations and partnerships including, without
limitation, Cedar Fair Management and Magnum (collectively, “Cedar Fair” or the “Company”); 
 WHEREAS,
Cedar Fair Management manages the day-to-day activities of, and establishes the long-term objectives for, Cedar Fair; 
 WHEREAS, the Board
of Directors of Cedar Fair Management (the “Board”), has determined that it is in the best interests of all stakeholders to effectuate an orderly and seamless transition from the outgoing President and Chief Executive Officer of
Cedar Fair Management, Executive, to the newly appointed President and Chief Executive Officer of Cedar Fair Management, Richard A. Zimmerman (“RAZ”). 

WHEREAS, the Board has further determined that this objective can best be achieved by appointing Executive to the role of Executive Chairman
of the Board (“Executive Chairman”); 
 WHEREAS, the Board has caused Cedar Fair to enter into an employment agreement with
Executive to set the terms and conditions of employment; and 
 WHEREAS, the Board and Executive intend and agree that, effective
January 1, 2018 (the “Effective Date”), this Agreement shall supersede and replace all employment agreements between Executive and Cedar Fair that pre-date the Effective Date. 

NOW, THEREFORE, in consideration of such employment and the mutual covenants and promises herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Executive agree as follows: 
 1. Employment.
Magnum hereby agrees to employ Executive, and Executive hereby agrees to accept employment with Magnum, upon the terms and conditions contained in this Agreement. The employment of the Executive by Magnum pursuant to this Agreement shall be for a
period beginning on the Effective Date and continuing until Executive’s employment is terminated as provided in Section 5 herein (the “Employment Period”). 

2. Duties. During the Employment Period, Executive shall perform services in a capacity and in a manner consistent with Executive’s position
for the Company. Executive shall have the title of Executive Chairman commencing as of the Effective Date and, shall have such duties, authorities and responsibilities as are consistent with such position, and that the Board may designate from time
to time while the Executive serves as Executive Chairman. While Executive is Executive Chairman, Executive will report directly to the Board and shall devote, on average, twenty-five percent (25%) of his business time and attention and best
efforts to fulfill his 

 
responsibilities as Executive Chairman; provided, that this Section 2 shall not be interpreted as prohibiting Executive from (i) managing Executive’s personal
investments (so long as such investment activities are of a passive nature), (ii) engaging in charitable or civic activities, (iii) participating on boards of directors or similar bodies of non-profit organizations, or (iv) subject to
approval by the Board in its sole discretion, participating on boards of directors or similar bodies of for-profit organizations, in each case, so long as such activities in the aggregate do not (a) materially interfere with the performance of
Executive’s duties and responsibilities hereunder, (b) create a fiduciary conflict, or (c) with respect to (ii), (iii), (iv) and (v) only, detrimentally affect the Company’s reputation as reasonably determined by the
Company in good faith. If requested, Executive shall also serve as an executive officer and/or member of the board of directors of any entity that directly, or indirectly through one or more intermediaries, controls, or is controlled by, or is under
common control with, Cedar Fair, L.P. (an “Affiliate”) without additional compensation including, and being subject to his election by Unitholders, serving as a member of the Board during the Employment Period. 

3. [Reserved] 
 4. Compensation.

 4.1 Base Salary. 

(a) In consideration of all services rendered by Executive under this Agreement, the Company shall pay Executive a base salary (the
“Base Salary”) at an annual rate of $500,000, during the Employment Period. Executive’s Base Salary will be reviewed from time to time but will not decrease, except in the event of an across the board reduction applicable to
substantially all senior executives of the Company. 
 (b) The Base Salary shall be paid in such installments and at such times as the
Company pays its regularly salaried employees and shall be subject to all required withholding taxes, including income, FICA, and Medicare contributions, and similar deductions. 

4.2 Incentive Compensation. During the Employment Period, Executive will be eligible to participate in one or more of Cedar Fair’s
cash incentive compensation plans and equity incentive plans (awards or compensation under any such plans being referred to as “Incentive Compensation”) including the Company’s 2016 Omnibus Incentive Plan (or any successor thereto
(the “Company Omnibus Plan”) at a level appropriate to Executive’s position and performance, as solely determined by the Board. 

(a) Annual Cash Incentive Compensation. 

(i) In General. 

Any cash incentive compensation (“Annual Cash Incentive”) payable to Executive for a calendar year shall be paid to
Executive at the same time that other senior executives of the Company receive bonus payments, but in no event later than March 15 of the calendar year following the end of the calendar year to which such Annual Cash Incentive relates.
Executive shall not be paid any Annual Cash Incentive 

  
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with respect to a calendar year unless Executive is employed with the Company on the last day of the calendar year to which such Annual Cash Incentive relates, except as otherwise set forth in
Section 6 hereof. The Board, in consultation with the Executive, will set annually the performance metrics for short-term business objectives and individual goals for the Annual Cash Incentive, as well as minimum payment thresholds and
maximum payouts. 
 (ii) Target Annual Cash Incentive for 2018 will be determined using the following metrics: 

A. Target Annual Cash Incentive will be 120% of Base Salary; 

B. Maximum opportunity will be 180% of Base Salary (computed as 150% of 120%); 

C. Minimum payment threshold will be 90% of the target performance threshold. 

Executive’s Target Annual Cash Incentive will be reviewed from time to time but will not decrease, except in the event of
an across the board reduction applicable to substantially all senior executives of the Company. 
 (b) Long-Term Equity Incentive
Compensation. Any equity award shall be subject to the terms and conditions set forth in the Company Omnibus Plan and an applicable award agreement entered into thereunder, which shall not be inconsistent with the Plan or this Agreement (except
to the extent the Plan may be modified by the Board), and to approval of such grant by the Board; provided that upon the occurrence of a change in control (as defined in the Company Omnibus Plan) (referred to herein as “Change in
Control”), Executive shall become fully and immediately vested in any equity award granted to Executive pursuant to the Company Omnibus Plan, in each case, then held by the Executive as of the date of such Change in Control provided
further that any equity awards conditioned upon performance criteria, goals or objectives that so vest fully and immediately upon a Change in Control shall be payable at the target level specified in the Company Omnibus Plan or an applicable
award agreement or as specified in connection with the grant, where applicable. 
 4.3 Benefits. During the Employment Period,
Executive shall be entitled to participate in any benefit and compensation plans, including but not limited to medical, disability, life insurance, 401(k) and deferred compensation plans (but excluding any severance or bonus plans unless
specifically referenced in this Agreement) offered by the Company as in effect from time to time (collectively, “Benefit Plans”), on the same basis as those generally made available to other senior executives of the Company, to the
extent Executive may be eligible to do so under the terms of any such Benefit Plan; provided, that the Company shall cover the costs of an annual physical for Executive under the Company’s medical plan. Executive understands that
any such Benefit Plans may be terminated or amended from time to time by the Company in its sole discretion. 

  
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 4.4 [Reserved] 

4.5 Clawback. Subject to, or in combination with, Section 12.13, Executive agrees that the Board may, in appropriate
circumstances, require reimbursement of any Incentive Compensation paid or granted to Executive within the preceding twenty four months where: (1) the payment was predicated upon achieving certain financial results that were subsequently the
subject of a substantial restatement of Company financial statements filed with the Securities and Exchange Commission; and (2) the Board determines Executive engaged in intentional misconduct that caused or substantially caused the need for
the substantial restatement; and (3) a lower payment would have been made to the Executive based upon the restated financial results. In each such instance, the Company will, to the extent practicable, seek to recover from Executive the amount
by which Executive’s Incentive Compensation for the relevant period exceeded the lower payment that would have been made based on the restated financial results and Executive shall be liable to repay the same. 

5. Termination. Executive’s employment hereunder may be terminated as follows: 

5.1 Death. Automatically in the event of the death of Executive; 

5.2 Disability. At the option of the Company, by written notice to Executive or Executive’s personal representative in the event of
the Disability of Executive. As used herein, the term “Disability” shall mean a physical or mental incapacity or disability which has rendered, or is likely to render, Executive unable to perform Executive’s material duties for
a period of either (i) one hundred eighty (180) days in any twelve- (12-) month period or (ii) ninety (90) consecutive days, as determined by a medical physician selected by the Company; 

5.3 By Company For Cause. At the option of the Company for Cause (as defined in Section 6.4), on prior written notice to
Executive; 
 5.4 By Company Without Cause. At the option of the Company, but subject to ten (10) days prior written notice to
Executive, at any time without Cause (provided that the assignment of this Agreement to and assumption of this Agreement by the purchaser of all or substantially all of the assets of the Company shall not be treated as a termination without
Cause under this Section 5.4); 
 5.5 By Executive For Good Reason. At the option of Executive for Good Reason (as
provided in Section 6.4); or 
 5.6 By Executive Without Good Reason. At the option of Executive for any or no reason, on
sixty (60) days prior written notice to the Company (which the Company may, in its sole discretion, make effective as a resignation earlier than the termination date provided in such notice), subject to Section 6.5 to the extent
applicable. 

  
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 6. Severance Payments. 

6.1 Termination Without Cause, for Disability or Resignation for Good Reason. If Executive’s employment is terminated at any time
during the Employment Period by the Company without Cause (and not for death) or pursuant to Section 5.2 (Disability) or by Executive for Good Reason (as defined in Section 6.4), subject to Section 6.5 and
Section 12.7, where applicable, Executive shall be entitled to: 
 (a) within thirty (30) days following such termination,
(i) payment of Executive’s accrued and unpaid Base Salary and Supplemental Compensation, (ii) reimbursement of expenses under Section 7 hereof and (iii) payment for accrued and unused vacation days, in each case
accrued as of the date of termination; 
 (b) (i) If such termination occurs as described in this Section 6.1 above, an amount
equal to Executive’s Base Salary at the time of termination of employment, payable in a single lump sum payment on the Company’s next regularly scheduled payroll date following the sixtieth
(60th) day after the Executive’s termination of employment, provided that such payments are subject to the provisions of Sections 6.5 and 12.7; 

(b) (ii) If such termination occurs following a Disability – to the extent any such termination of employment occurs pursuant to
Section 5.2 (Disability), monetary payments actually received by the Executive from a bona fide short-term or long-term disability plan maintained by the Company shall be used to reduce any payment made by the Company pursuant to this
provision on a dollar for dollar basis; provided that: (w) the disability plan payments qualify as “disability pay” under Treasury Regulation Section 31.3121(v)(2)-1(b)(4)(iv)(C); (x) such reduction does not otherwise affect
the time of payment of such Base Salary or the provision of benefits; (y) the disability plan covers a substantial number of employees and, was in effect before Executive became Disabled; and (z) 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; 

(c) any Annual Cash Incentive award earned with respect to a calendar year ending on or prior to the date of such termination of employment but
unpaid as of such date, shall be payable at the same time such payment would be made if Executive continued to be employed by the Company; 

(d) a pro-rata portion of Executive’s Annual Cash Incentive award for the calendar year in which Executive’s termination of
employment occurs (determined by multiplying the amount of such Annual Cash Incentive, which would be due for the full calendar year by a fraction, the numerator of which is the number of days during the calendar year of termination that Executive
is employed with the Company and the denominator of which is 365) based on actual performance and payable at the same time that other senior executives of the Company receive bonus payments in respect of the calendar year in which such termination
occurs, but in no event later than March 15 of the calendar year following the end of the calendar year to which such cash incentive award relates; provided, that to the extent Executive’s Annual Cash Incentive award for the
calendar year in which Executive’s termination occurs (i) is intended to be “qualified performance-based compensation” (within the meaning of Section 162(m) of the Code (as defined in Section 12.7)), any
qualitative performance criteria applicable 

  
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to such bonus relating to the potential application of “negative discretion” in respect of such bonus shall be deemed satisfied in full and (ii) is not intended to be
“qualified performance-based compensation” (within the meaning of Section 162(m) of the Code), any qualitative performance criteria applicable to such bonus shall be deemed satisfied in full; 

(e) subject to Executive’s timely election of continuation coverage under Part 6 of Title I of the Employee Retirement Income Security Act
of 1974, as amended, and Section 4980B of the Internal Revenue Code of 1986, as amended (“COBRA”), the Company shall pay to Executive each month an after-tax amount equal to the monthly amount of the COBRA continuation coverage
premium under the Company’s group medical plans as in effect from time to time, less the amount of Executive’s portion of the premium as if Executive were an active employee until the earliest of: (i) twelve (12) months after the
date of Executive’s termination of employment; (ii) the date Executive is no longer eligible for benefits under COBRA; or (iii) the date Executive obtains other employment that offers medical benefits, provided that the first
payment of any amount described in this Section 6.1(e) shall be paid following Executive’s termination of employment as described in Section 6.5 or Section 12.7 and shall include any amounts due prior
thereto. 
 (f) if such termination is the result of a Termination Without Cause or Resignation for Good Reason then, subject to Executive
executing a general release of all claims as set forth in Section 6.5, Executive shall become fully vested in any equity awards made under the Company’s Omnibus Incentive Plan (or any successor plan), whether such grants were made
prior to or following the Effective Date, excluding the 2014 Performance Based Retention Grant, that are scheduled to vest within the eighteen- (18-) month period following Executive’s date of termination. Other than as set forth below in the
context of options, Executive shall receive payments on the Payment Date as provided in the applicable award agreement as if the Executive were employed by the Company on the relevant Payment Date. All such equity awards shall be paid or vest
pursuant to the terms of the original award agreements, but without regard to any continuing employment requirements or proration. Options that vest within the eighteen- (18-) month post termination period will terminate thirty (30) calendar
days after the vesting date unless exercised by the Executive. Equity awards made under the Company’s Omnibus Incentive Plan (or any successor plan), that are scheduled to vest (in whole or in part) after the eighteen month period following
Executive’s date of termination as described above under this paragraph (f), shall vest and be paid only in accordance with the terms of the applicable award and the terms of the Omnibus Incentive Plan (or any successor plan). 

(g) Facility of Payments in the Event of Death After Termination of Employment. Severance payments (made by reason of terminations
without Cause, for Disability, and Resignation for Good Reason) which have not yet commenced (i.e., because of the six month waiting period), or which have commenced, but are unpaid at death of Executive (i.e., during months six to twelve months
after termination), will be paid to Executive’s designated beneficiary or legal representative, as applicable; and, 
 (h) all other
accrued amounts or accrued benefits due to Executive in accordance with the Company’s benefit plans, programs or policies (other than severance). 

  
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 6.2 Termination due to Death. Upon the termination of Executive’s employment due to
Executive’s death pursuant to Section 5.1, subject to Section 6.5 hereof, Executive or Executive’s legal representatives shall be entitled to receive the payments and benefits described under Sections 6.1(a),
(c), (d), and (h) hereof. In addition subject to Executive’s spouse and eligible dependents timely election of continuation coverage under the COBRA, the Company shall pay to Executive’s spouse and eligible
dependents each month an after-tax amount equal to the monthly amount of the COBRA continuation coverage premium under the Company’s group medical plans as in effect from time to time, less the amount of Executive’s portion of the premium
as if Executive were an active employee for a period of up to twelve (12) months after the date of Executive’s death, if permitted under applicable law as determined in good faith by Cedar Fair. 

6.3 Termination for Any Other Reason. Upon the termination of Executive’s employment for any reason other than by the Company
without Cause, as a result of death or Disability or by Executive for Good Reason, including without limitation a termination by the Company For Cause or a Resignation by Executive Without Good Reason, Executive or Executive’s legal
representatives shall be entitled to receive the payments and benefits described under Sections 6.1(a), (c), (g), and (h) hereof. 

6.4 Certain Definitions. For purposes of this Agreement, 

(a) “Cause” shall mean: 

(i) Executive’s willful and continued failure to perform his duties hereunder or to follow the lawful direction of the Board or a
material breach of fiduciary duty after written notice specifying the failure or breach; 
 (ii) theft, fraud, or dishonesty with regard to
the Company or in connection with Executive’s duties; 
 (iii) Executive’s indictment for, conviction of (or pleading guilty or
nolo contendere to) a felony or any lesser offense involving fraud, or moral turpitude; 
 (iv) material violation of the Company’s
Code of Conduct or similar written policies after written notice specifying the failure or breach; 
 (v) willful misconduct unrelated to
the Company having, or likely to have, a material negative impact on the Company (economically or its reputation) after written notice specifying the failure or breach; 

(vi) an act of gross negligence or willful misconduct by the Executive that relates to the affairs of the Company; 

(vii) material breach by Executive of any provisions of this Agreement; 

(viii) a final, nonappealable determination by a court or other governmental body of competent jurisdiction that a material violation by the
Executive of federal or state securities laws has occurred; or 

  
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 (ix) as provided in Section 12.1 hereof. 

(b) “Good Reason” shall mean, without Executive’s express consent: 

(i) any material diminution in Executive’s responsibilities, authorities or duties; 

(ii) any material reduction in Executive’s (x) aggregate amount of Base Salary and Supplemental Compensation, or (y) target
Incentive Compensation opportunity (except in the event of an across the board reduction in Base Salary or Incentive Compensation opportunity applicable to substantially all senior executives of the Company); or 

(iii) a material breach of this Agreement by the Company; 

provided, however, that no event described in clause (i) or (ii), shall constitute Good Reason unless (A) Executive has given the
Company written notice of the termination, setting forth the conduct of the Company that is alleged to constitute Good Reason, within sixty (60) days of the first date on which Executive has knowledge of such conduct, and (B) Executive has
provided the Company at least thirty (30) days following the date on which such notice is provided to cure such conduct and the Company has failed to do so. Failing such cure, a termination of employment by Executive for Good Reason shall be
effective on the day following the expiration of such cure period. 
 (c) “Noncompetition Period” shall mean during
Executive’s employment and during the twelve- (12-) month period following such termination of employment regardless of reason, plus during any additional period for which Executive receives severance payments from the Company pursuant to
Section 6.1(b) or 6.1(f) hereof. For the avoidance of doubt, this means, in the event Executive receives severance payments from the Company pursuant to Section 6.1(b) hereof, the Noncompetition Period shall run for a
period of twenty-four (24) months following the date Executive terminates employment with the Company; moreover, in the event Executive receives payments from the Company under the circumstances contemplated in Section 6.1(f)
hereof, the Noncompetition Period shall run for a period of thirty (30) months. 
 6.5 Conditions to Payment. All payments and
benefits due to Executive under this Section 6 which are not otherwise required by law shall be payable only if Executive (or Executive’s beneficiary or estate) delivers to the Company and does not revoke (under the terms of
applicable law) a general release of all claims in the form attached hereto as Exhibit A, provided that if necessary, such general release may be updated and revised to comply with applicable law to achieve its intent. Such general release
shall be executed and delivered (and no longer subject to revocation) within sixty (60) days following termination and provided further that if the sixty- (60-) day period begins in one calendar year and ends in a second calendar year,
payments shall always be made in the second calendar year. Failure to timely execute and return such release or revocation thereof shall be a waiver by Executive of Executive’s right to severance (which, for the avoidance of doubt, shall not
include any amounts described in Sections 6.1(a), (c) and (h) hereof). In addition, severance shall be conditioned on Executive’s compliance with Section 8 hereof as provided in Section 9 below.

  
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 6.6 No Other Severance. Executive hereby acknowledges and agrees that, other than the
severance payments described in this Section 6, upon termination of employment Executive shall not be entitled to any other severance under any Company benefit plan or severance policy generally available to the Company’s employees
or otherwise. 
 7. Reimbursement of Expenses. Subject to Section 6.5 and Section 12.7, the Company shall reimburse
Executive for reasonable and necessary expenses actually incurred by Executive directly in connection with the business and affairs of the Company and the performance of Executive’s duties hereunder upon presentation of proper receipts or other
proof of expenditure and in accordance with the guidelines and limitations established by the Company under the Company’s Travel and Entertainment Policy as in effect from time to time; provided, that Executive shall present all
such proper receipts or other proof of expenditure promptly following the date the expense was incurred, but in no event later than one week after the date the expense was incurred, and reimbursement shall be made promptly thereafter. When
traveling for Company business, Executive shall be subject to Company travel policies, including, without limitation, the Company’s Travel and Entertainment Policy, in effect from time to time. 

8. Restrictions on Activities of Executive. 

8.1 Confidentiality 
 (a)
Executive acknowledges that it is the policy of the Company 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 the Company 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 the Company, free of any rights of Executive, and acknowledges that the Company has a vested interest in assuring that all such Confidential Information remains secret and confidential. Therefore, in
consideration of Executive’s employment with the Company pursuant to this Agreement, Executive agrees that at all times from and after the Effective Date, he will not, directly or indirectly, disclose to any person, firm, company or other
entity (other than the Company) any Confidential Information, except as specifically required in the performance of his duties hereunder, without the prior written consent of the Company, 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 8.1 or by any other executive officer of the Company subject to confidentiality obligations, or (ii) any such
Confidential Information becomes available to Executive on a non-confidential basis from a source other than the Company, 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, the Company 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 (x) give the Company the earliest notice possible that such disclosure is or may be required and (y) cooperate with the Company, at the Company’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 8.1 shall survive any termination of
this Agreement. During the Employment Period Executive shall exercise all 

  
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due and diligent precautions to protect the integrity of the business plans, customer lists, statistical data and compilation, agreements, contracts, manuals or other documents of the Company
which embody the Confidential Information, and upon the expiration or the termination of the Employment Period, 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 the Company and will not be retained by Executive or furnished to any person, either by sample, facsimile film, audio or video cassette, electronic data, verbal communication or
any other means of communication. Executive agrees that the provisions of this Section 8.1 are reasonably necessary to protect the proprietary rights of the Company 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 the
Company relating to the “Business” (as herein defined), operations, employees, customers, suppliers and distributors of the Company, 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 the Company 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 the
Company and deemed by it to be confidential. For purposes of this Agreement, the term “Business” shall mean: (i) the business of amusement and water parks; (ii) leisure theme parks; (iii) any other business engaged in
or being developed (including production of materials used in the Company’s businesses) by the Company, or being considered by the Company, at the time of Executive’s termination, in each case, to the extent such business is primarily
related to the business of amusement and water parks or leisure theme parks; and (iv) any joint venture, partnership or agency arrangements relating to the businesses described in (b)(i) through (iii) above; provided that, in
determining when an entity is in a “Business”, the Board will not act unreasonably in making such determination. 
 8.2
Non-Competition. 
 (a) Executive agrees that, during the Noncompetition Period, Executive will not: 

(i) directly or indirectly, own, manage, operate, control or participate in the ownership, management or control of, or be connected as an
officer, employee, partner, consultant, contractor, 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: 

(x) in which ten percent (10%) or more of whose annual revenues are derived from a Business as defined above; and 

  
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 (y) which conducts business in any locality or region of the United States or Ontario, Canada
(whether or not such competing entity or business is physically located in the United States or Canada), or any other area where Business is being conducted by the Company on the date Executive’s employment is terminated hereunder or in each
and every area where the Company intends to conduct such Business as it expresses such intent in the written strategic plan developed by the Company as of the date Executive’s employment is terminated hereunder; and 

(ii) 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, except in his capacity as an executive of the Company, canvass or solicit, or enter into or effect (or cause or authorize to be solicited, entered into, or effected), directly or indirectly, for or on behalf of himself
or any other person, any business relating to the services of the type provided by, or orders for business or services similar to those provided by, the Company from any person, company, firm, or other entity who is, or has at any time within two
(2) years prior to the date of such action been, a customer or supplier of the Company; provided that the restrictions of Section 8.2(a)(i)(y) above shall also apply to any person, company, firm, or other entity with whom the
Company is specifically seeking to develop a relationship as a customer or supplier of the Company at the date of such action. 
 Notwithstanding the
forgoing, Executive’s ownership of securities of a public company engaged in competition with the Company not in excess of five percent (5%) of any class of such securities shall not be considered a breach of the covenants set forth in
this Section 8.1(a). 
 (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, except in his capacity as an executive of the Company: 

(i) seek to persuade any employee of the Company 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 the Company, in any locality or region of the United States or Canada and in each and every other area where the Company conducts its Business; 

provided; however, that the restrictions set forth in this Section 8.2(b) shall cease upon the expiration of the Noncompetition
Period. 
 8.3 Assignment of Inventions. 

(a) Executive agrees that during employment with the Company, any and all inventions, discoveries, innovations, writings, domain names,
improvements, trade secrets, designs, drawings, formulas, business processes, secret processes and know-how, whether or not patentable or a copyright or trademark, which Executive may create, conceive, develop or make, either alone or in conjunction
with others and related or in any way connected with the 

  
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Company’s strategic plans, products, processes or apparatus or the Business (collectively, “Inventions”), shall be fully and promptly disclosed to the Company and shall be
the sole and exclusive property of the Company as against Executive or any of Executive’s assignees. Regardless of the status of Executive’s employment by the Company, Executive and Executive’s heirs, assigns and representatives shall
promptly assign to the Company any and all right, title and interest in and to such Inventions made during employment with the Company. 

(b) Whether during or after the Employment Period, Executive further agrees to execute and acknowledge all papers and to do, at the
Company’s expense, any and all other things necessary for or incident to the applying for, obtaining and maintaining of such letters patent, copyrights, trademarks or other intellectual property rights, as the case may be, and to execute, on
request, all papers necessary to assign and transfer such Inventions, copyrights, patents, patent applications and other intellectual property rights to the Company and its successors and assigns. In the event that the Company is unable, after
reasonable efforts and, in any event, after ten (10) business days, to secure Executive’s signature on a written assignment to the Company, of any application for letters patent, trademark registration or to any common law or statutory
copyright or other property right therein, whether because of Executive’s physical or mental incapacity, or for any other reason whatsoever, Executive irrevocably designates and appoints the Secretary of the Company as Executive’s attorney-in-fact to act on Executive’s behalf to execute and file any such applications and to do all lawfully permitted acts to further the prosecution or issuance of
such assignments, letters patent, copyright or trademark. 
 8.4 Return of Company Property. Within ten (10) days following the
date of any termination of Executive’s employment, Executive or Executive’s personal representative shall return all property of the Company in Executive’s possession, including but not limited to all Company-owned computer equipment
(hardware and software), telephones, facsimile machines, smart phones, cell phones, tablet computer and other communication devices, credit cards, office keys, security access cards, badges, identification cards and all copies (including drafts) of
any documentation or information (however stored) relating to the Business, the Company’s customers and clients or its prospective customers and clients. Anything to the contrary notwithstanding, Executive shall be entitled to retain
(i) personal papers and other materials of a personal nature, provided that such papers or materials do not include Confidential Information, (ii) information showing Executive’s compensation or relating to reimbursement of expenses,
and (iii) copies of plans, programs and agreements relating to Executive’s employment, or termination thereof, with the Company which he received in Executive’s capacity as a participant. 

8.5 Resignation as an Officer and Director. Upon any termination of Executive’s employment, Executive shall be deemed to have
resigned, to the extent applicable as an officer of the Company a member of the board of directors or similar body of any of Cedar Fair, L.P.’s Affiliates, and as a fiduciary of any Company benefit plan. On or immediately following the date of
any termination of Executive’s employment, Executive shall confirm the foregoing by submitting to the Company in writing a confirmation of Executive’s resignation(s). 

8.6 Cooperation. During and following the Employment Period, Executive shall give Executive’s assistance and cooperation willingly,
upon reasonable advance notice (which shall include due regard to the extent reasonably feasible for Executive’s employment obligations and 

  
 12 

 
prior commitments), in any matter relating to Executive’s position with the Company, or Executive’s knowledge as a result thereof as the Company may reasonably request, including
Executive’s attendance and truthful testimony where deemed appropriate by the Company, with respect to any investigation or the Company’s defense or prosecution of any existing or future claims or litigations or other proceeding relating
to matters in which he was involved or had knowledge by virtue of Executive’s employment with the Company. The Company will reimburse Executive for reasonable out-of-pocket travel costs and expenses incurred by him (in accordance with Company
policy) as a result of providing such assistance, upon the submission of the appropriate documentation to the Company. 
 8.7
Non-Disparagement. During his employment with the Company and at any time thereafter, Executive agrees not to disparage or encourage or induce others to disparage the Company, any of its respective employees that were employed during
Executive’s employment with the Company or any of its respective past and present, officers, directors, products or services (the “Company Parties”). For purposes of this Section 8.7, the term “disparage”
includes, without limitation, comments or statements to the press, to the Company’s employees or to any individual or entity with whom the Company has a business relationship (including, without limitation, any vendor, supplier, customer or
distributor), or any public statement, that in each case is intended to, or can be reasonably expected to, materially damage any of the Company Parties. Notwithstanding the foregoing, nothing in this Section 8.7 shall prevent Executive
from making any truthful statement to the extent, but only to the extent (A) necessary with respect to any litigation, arbitration or mediation involving this Agreement, including, but not limited to, the enforcement of this Agreement, in the
forum in which such litigation, arbitration or mediation properly takes place or (B) required by law, legal process or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with apparent
jurisdiction over Executive. 
 8.8 Tolling. In the event of any violation of the provisions of this Section 8, Executive
acknowledges and agrees that the post-termination restrictions contained in this Section 8 shall be extended by a period of time equal to the period of such violation, it being the intention of the parties hereto that the running of the
applicable post-termination restriction period shall be tolled during any period of such violation. 
 8.9 Survival. This
Section 8 shall survive any termination or expiration of this Agreement or employment of Executive. 
 9. Remedies; Scope. 

9.1 It is specifically understood and agreed that any breach of the provisions of Section 8 of this Agreement is likely to result
in irreparable injury to the Company and that the remedy at law alone will be an inadequate remedy for such breach, and that in addition to any other remedy it may have in the event of a breach or threatened breach of Section 8 above,
the Company shall be entitled to enforce the specific performance of this Agreement by Executive and to seek both temporary and permanent injunctive relief (to the extent permitted by law) without bond and without liability should such relief be
denied, modified or violated. Furthermore, in the event of any breach of the provisions of Section 8.2 above or a material and willful breach of any other provision in Section 8 above (the “Forfeiture
Criteria”), the Company 

  
 13 

 
shall be entitled to cease making any severance payments being made hereunder, and in the event of a final, nonappealable determination by a federal or state court of competent jurisdiction that
a breach of any provision of Section 8 above has occurred, if such breach of Section 8 above satisfies the Forfeiture Criteria and occurs while Executive is receiving severance payments in accordance with
Section 6 above (regardless whether the Company discovers such breach during such period of severance payment or anytime thereafter), the Company shall be entitled to recover any severance payments made to Executive. 

9.2 Scope. Executive has carefully considered the nature and extent of the restrictions upon Executive and the rights and remedies
conferred upon the Company under Section 8 and Section 9.1, and hereby acknowledges and agrees that the same are reasonable and necessary in time and territory, are intended to eliminate competition which otherwise would be
unfair to the Company, 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 the Company, and do not confer a
benefit upon the Company disproportionate to the detriment to Executive. 
 10. Severable Provisions. The provisions of this Agreement are
severable and the invalidity of any one or more provisions shall not affect the validity of any other provision. In the event that a court of competent jurisdiction shall determine that any provision of this Agreement or the application thereof is
unenforceable in whole or in part because of the duration or scope thereof, the parties hereto agree that said court in making such determination shall have the power to reduce the duration and scope of such provision to the extent necessary to make
it enforceable, and that the Agreement in its reduced form shall be valid and enforceable to the full extent permitted by law. 
 11. Notices.
All notices hereunder, to be effective, shall be in writing and shall be deemed effective when delivered by hand or mailed by (a) certified mail, postage and fees prepaid, or (b) nationally recognized overnight express mail service, as
follows: 
  

			
	If to the Company:	  	 One Cedar Point Drive
 Sandusky, Ohio
44870-5259
 Attn: General Counsel

		
	If to Executive:	  	Matthew A. Ouimet

 The last address shown on records of the Company 

or to such other address as a party may notify the other pursuant to a notice given in accordance with this Section 11. 

  
 14 

 12. Miscellaneous. 

12.1 Executive Representation. Executive hereby represents to the Company that the execution and delivery of this Agreement by Executive
and the Company and the performance by Executive of Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, or be prevented, interfered with or hindered by, the terms of any employment agreement or other
agreement or policy to which Executive is a party or otherwise bound, and further that Executive is not subject to any limitation on his activities on behalf of the Company as a result of agreements into which Executive has entered except for
obligations of confidentiality with former employers. To the extent this representation and warranty is not true and accurate, it shall be treated as a Cause event and the Company may terminate Executive for Cause or not permit Executive to continue
employment. 
 12.2 No Mitigation; Offset. 

(a) No Mitigation. In the event of any termination of Executive’s employment hereunder, Executive shall be under no obligation to
seek other employment or otherwise mitigate the obligations of the Company under this Agreement. 
 (b) Offset. To the extent that
following Executive’s termination of employment with the Company, Executive becomes employed by or provides consultation services to any natural person, partnership, corporation, limited liability company, business trust, joint stock company,
trust, unincorporated association, joint venture, governmental entity, or other entity or organization (each, a “Person”) during any period, if any, in which the Company may be obligated, pursuant to Section 6.3 of this
Agreement, to pay or provide to Executive compensation or benefits following such termination of employment, 
 (i) Executive shall
immediately notify the Company of any Person for whom Executive works or provides services; 
 (ii) Executive shall promptly provide to the
Company copies of all pay statements (or similar statements) received from any such Person, or, if no such statements are available, a true, correct and complete description of any payments Executive is receiving; and 

(iii) in addition to any other rights the Company may have pursuant to the terms of this Agreement or otherwise, the Company shall be entitled
to offset any compensation or benefits, if any, which the Company may be obligated, pursuant to Section 6.3 of this Agreement, to pay or provide to Executive following such termination of employment by the compensation, consultant’s
and/or other fees (excluding any such fees received by Executive in connection with his participation on the board of directors of any Person in which Executive is a member of such Person’s board of directors as of immediately prior to his
termination of employment with the Company) being paid to Executive during the same period; provided, that any such offset shall, in each case, be applied to the next dollars due to Executive from the Company during the applicable
period and provided further that such offset is permitted under Code Section 409A and other applicable law. 

  
 15 

 12.3 Entire Agreement; Amendment. Except as otherwise expressly provided herein and as
further set forth in the grant agreement of any equity awards, this Agreement constitutes the entire Agreement between the parties hereto with regard to the subject matter hereof, superseding all prior understandings, term sheets and agreements,
whether written or oral. This Agreement may not be amended or revised except by a writing signed by the parties. 
 12.4 Assignment and
Transfer. The provisions of this Agreement shall be binding on and shall inure to the benefit of the Company and any successor in interest to the Company who acquires all or substantially all of the Company’s assets. Neither this Agreement
nor any of the rights, duties or obligations of Executive shall be assignable by Executive, nor shall any of the payments required or permitted to be made to Executive by this Agreement be encumbered, transferred or in any way anticipated, except as
required by applicable laws. All rights of Executive under this Agreement shall inure to the benefit of and be enforceable by Executive’s personal or legal representatives, estates, executors, administrators, heirs and beneficiaries. 

12.5 Waiver of Breach. A waiver by either party of any breach of any provision of this Agreement by the other party shall not operate or
be construed as a waiver of any other or subsequent breach by the other party. 
 12.6 Reporting and Withholding. The Company shall be
entitled to report all income and withhold from any amounts to be paid or benefits provided to Executive hereunder any federal, state, local or foreign income tax withholding, FICA contributions, Medicare contributions, or other taxes, charges or
deductions which it is from time to time required to withhold or that Executive has authorized the Company to withhold. The Company shall be entitled to rely on an opinion of counsel if any question as to the amount or requirement of any such
withholding shall arise. 
 12.7 Code Section 409A. Notwithstanding anything to the contrary contained in this Agreement: 

(a) The parties agree that this Agreement shall be interpreted to comply with or, to the extent possible, be exempt from Section 409A of
the Internal Revenue Code, as amended (the “Code”), and the regulations and guidance promulgated thereunder to the extent applicable (collectively “Code Section 409A”), and all provisions of this Agreement
shall be construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. Except to the extent attributable to a breach of this Agreement by the Company, in no event whatsoever will the Company be
liable for any additional tax, interest or penalties that may be imposed on Executive under Code Section 409A or any damages for failing to comply with Code Section 409A. 

(b) A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment
of any amounts or benefits considered “nonqualified deferred compensation” under Code Section 409A upon or following a termination of employment unless such termination is also a “separation from service” within the meaning
of Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.” If Executive is deemed
on the date of termination to be a 

  
 16 

 
“specified employee” within the meaning of that term under Code Section 409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered
nonqualified deferred compensation under Code Section 409A payable on account of a “separation from service,” if no exemption or exclusion from Section 409 (A) is determined to apply, such payment or benefit shall not be
made or provided until the date which is the earlier of (i) the expiration of the six (6)-month period measured from the date of such “separation from service” of Executive, and (ii) the date of Executive’s death (the
“Delay Period”). Upon the expiration of the Delay Period, all payments and benefits delayed pursuant to this Section 12.7(b) (whether they would have otherwise been payable in a single sum or in installments in the
absence of such delay) shall be paid or reimbursed on the first business day following the expiration of the Delay Period to Executive in a lump sum with interest at the prime rate during the Delay Period, and any remaining payments and benefits due
under this Agreement shall be paid or provided in accordance with the normal payment dates and in the normal payment forms specified for them herein. 

(c) With regard to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code
Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any
taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits, to be provided in any other taxable year, provided that this clause (ii) shall not be violated with regard to expenses reimbursed under any
arrangement covered by Code Section 105(b) solely because such expenses are subject to a limit related to the period the arrangement is in effect and (iii) such payments shall be made on or before the last day of Executive’s taxable
year following the taxable year in which the expense occurred. 
 (d) For purposes of Code Section 409A, Executive’s right to
receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies a payment period with reference to a number of days
(e.g., “payment shall be made within thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of the Company, unless provided otherwise
herein. 
 12.8 Arbitration. 

(a) Executive and Cedar Fair agree that, except as provided in Section 12.8(h) below, any dispute, claim, or controversy between
them, including without limitation disputes, claims, or controversies arising out of or relating to this Agreement or Executive’s employment with Cedar Fair or the termination of that employment, shall be settled exclusively by final and
binding arbitration. Judgment upon the award of the arbitrators may be entered and enforced in any federal or state court having jurisdiction over the parties. Executive and Cedar Fair expressly acknowledge that this agreement to arbitrate applies
without limitation to any disputes, claims or controversies between them, including without limitation claims of unlawful discrimination (including without limitation claims under Title VII, the Age Discrimination in Employment Act, the Americans
with Disabilities Act and all amendments to those statutes, as well as state anti-discrimination statutes), harassment, whistleblowing, retaliation, wrongful discharge, constructive discharge, claims related to the payment of wages or benefits,
contract claims, and 

  
 17 

 
tort claims under federal, state, or local law, whether created by statute or the common law. By agreeing to submit any and all claims to arbitration (except as set forth in
Section 12.8(h) below), Executive and Cedar Fair expressly waive any right that they may have to resolve any disputes, claims, or controversies through any other means, including a jury trial or bench trial. 

(b) The arbitration shall be conducted by a panel of three (3) arbitrators in accordance with the Employment Arbitration Rules of the
American Arbitration Association (“AAA”) except as provided in this Agreement. 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 (2) arbitrators cannot agree upon the selection of a
third arbitrator, the parties agree that the third arbitrator shall be appointed by the AAA in accordance with AAA’s arbitrator selection procedures, including the provision of a list of potential arbitrators to both parties. Each member of the
panel shall be a lawyer admitted to practice law for a minimum of 15 years. 
 (c) Executive and Cedar Fair waive their right to file any
arbitration on a class or collective basis; both Executive and Cedar Fair agree to file any arbitration only on an individual basis and agree not to file any arbitration as a representative of any class or group of others. Therefore, neither
Executive nor Cedar Fair will seek to certify a class or collective arbitration or otherwise seek to proceed in arbitration on a representative basis, and the arbitrators shall have no authority to conduct a proceeding as a class or collective
action or to award any relief to a class of employees. Nor shall Executive or Cedar Fair participate in any class or collective action involving claims covered by this Agreement, but instead shall arbitrate all claims covered by this Agreement on an
individual basis. 
 (d) The arbitration panel shall have authority to award any remedy or relief that an Ohio or federal court in Ohio could
grant 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. Notwithstanding the
above, any remedy for an alleged breach of the Agreement, wrongful discharge, or constructive discharge, or claims related to compensation and benefits will be governed solely by the applicable provisions of this Agreement, with no right to
compensatory, punitive, or equitable relief. Further notwithstanding the foregoing, given the nature of Executive’s position with Cedar Fair, the arbitrator shall not have the authority to order reinstatement, and Executive waives any right to
reinstatement to the full extent permitted by law. 
 (e) The arbitrator may award attorneys’ fees and costs to the extent authorized by
statute. 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 the issues. The costs of the arbitration panel shall be borne by
the parties in accordance with the Employment Arbitration Rules of the AAA. 
 (f) 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 necessary in any subsequent proceedings between the parties, such as to enforce the arbitration award; or (iii) as otherwise compelled by law. 

  
 18 

 (g) The terms of this arbitration Agreement are severable. The invalidity or unenforceability of
any provisions herein shall not affect the application of any other provisions. This Agreement to arbitrate shall be governed by the Federal Arbitration Act. The claims, disputes, and controversies submitted to arbitration will be governed by Ohio
law and applicable federal law. The arbitrators shall have exclusive jurisdiction to decide questions concerning the interpretation and enforceability of this Agreement to arbitrate, including but not limited to questions of whether the parties have
agreed to arbitrate a particular claim, whether a binding contract to arbitrate has been entered into, and whether the Agreement to arbitrate is unconscionable or otherwise unenforceable; provided however, that it is agreed that the
arbitrators shall have no authority to decide any questions as to whether the waiver of class and collective actions is valid or enforceable and all questions of the validity or enforceability of the waiver shall be decided by a court, not the
arbitrators, and the court shall stay any arbitration that purports to proceed as a class or collective action or where the claimant in the arbitration seeks to otherwise act in a representative capacity. 

(h) The parties agree and acknowledge that the promises and agreements set forth in Sections 8.1 (Confidentiality) and 8.2
(Non-Competition) of this Agreement shall not be subject to the arbitration provisions set forth in this Section 12.8, but rather such claims may be brought in any federal or state court of competent jurisdiction. This Agreement to
arbitrate does not apply to claims arising under federal statutes that prohibit pre-dispute arbitration agreements. This Agreement to arbitrate does not preclude Executive from filing a claim or charge with a governmental administrative agency,
such as the National Labor Relations Board, the Department of Labor, and the Equal Employment Opportunity Commission, or from filing a workers’ compensation or unemployment compensation claim in a statutorily-specified forum. 

12.9 Code Section 280G. 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 tax. Such payments, distributions and benefits will be reduced by
Cedar Fair in accordance with the following order of priority (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. 

  
 19 

 12.10 Indemnification; Liability Insurance. To the extent provided in the Company’s
Code of Regulations and Certificate of Incorporation, and subject to the limitations on indemnification provided under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) and regulations thereto, the
Company shall indemnify Executive for losses or damages incurred by Executive as a result of all causes of action arising from Executive’s performance of duties for the benefit of the Company, whether or not the claim is asserted during the
Employment Period. Executive shall be provided with the same level of directors and officers liability insurance coverage provided to other directors and officers of the Company on the same terms and conditions applicable to such other directors and
officers. 
 12.11 Governing Law. This Agreement shall be construed under and enforced in accordance with the laws of the State of
Ohio, without regard to the conflicts of law provisions thereof. 
 12.12 Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original and shall have the same effect as if the signatures hereto and thereto were on the same instrument. 

12.13 Compliance with the Dodd-Frank Act. The Company and the Executive acknowledge and agree that it is the intent of both parties that
this Agreement comply with all applicable laws and regulations, including, without limitation, those under the Dodd-Frank Act. In accordance with the foregoing sentence, the Company and Executive agree to enter into any amendments to this
Agreement from time to time, as may be necessary to comply with all applicable laws and regulations, including, without limitation, those relating to any incentive compensation, hedging, or clawback policies established from time to time by the
Company to comply with the Dodd-Frank Act. 
 12.14 Attorneys’ Fees. The Company shall pay or reimburse Executive for the
reasonable attorneys’ fees incurred, if any, in the negotiation and preparation of this Agreement. 
 [Remainder of Page
Intentionally Left Blank] 
 [Signature Page to Follow] 

  
 20 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

			
	Cedar Fair, L.P.
		
	By:	 	/s/ Brian Witherow
	Name:	 	Brian Witherow
	Title:	 	Chief Financial Officer
	
	Cedar Fair Management, Inc.
		
	By:	 	/s/ Eric Affeldt
	Name:	 	Eric Affeldt
	Title:	 	Chairman of Board of Directors
	
	Magnum Management Corp.
		
	By:	 	/s/ Brian Witherow
	Name:	 	Brian Witherow
	Title:	 	Chief Financial Officer
	
	EXECUTIVE
	
	/s/ Matthew A. Ouimet
	Matthew A. Ouimet
		
	Date:	 	10/4/17

 [Signature Page] 

  
 21 

 Execution Version 

Exhibit A 
 RELEASE AGREEMENT 

This RELEASE AGREEMENT (this “Agreement”) dated
                     , 20    , is made and entered into by and between 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 Matthew A. Ouimet (the
“Employee”). 
 WHEREAS, Cedar Fair, L.P. is affiliated with several corporations and partnerships including, without
limitation, Cedar Fair Management and Magnum (collectively, “Cedar Fair” or the “Company”); 
 WHEREAS,
the Company and the Employee previously entered into an Employment Agreement dated                      (the “Employment
Agreement”); and 
 WHEREAS, the Employee’s employment with Magnum and the Company has terminated effective
                     , 20    . 

NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein and in the Employment Agreement, the Company and the
Employee agree as follows: 
 1. General Release and Waiver of Claims. 

a. In consideration of Employee’s right to receive the severance payments and benefits set forth in Sections 6.1(a), (b), (c), (d),
(f) and (h) and the last sentence of Section 6.2 of the Employment Agreement, the Employee, on behalf of himself and his heirs, executors, administrators, trustees, legal representatives, successors and assigns
(hereinafter collectively referred to for purposes of this Section 1 as “Employee”), hereby agrees to irrevocably and unconditionally waive, release and forever discharge the Company and its past, present and future
affiliates and related entities, parent and subsidiary corporations, divisions, shareholders, predecessors, current, former and future officers, directors, employees, trustees, fiduciaries, administrators, executives, agents, representatives,
successors and assigns (collectively, the “Company Released Parties”) from any and all waivable claims, charges, demands, sums of money, actions, rights, promises, agreements, causes of action, obligations and liabilities of any
kind or nature whatsoever, at law or in equity, whether known or unknown, existing or contingent, suspected or unsuspected, apparent or concealed, foreign or domestic (hereinafter collectively referred to as “claims”) which he has
now or in the future may claim to have against any or all of the Company Released Parties based upon or arising out of any facts, acts, conduct, omissions, transactions, occurrences, contracts, claims, events, causes, matters or things of any
conceivable kind or character existing or occurring or claimed to exist or to have occurred prior to the date of the Employee’s execution of this Agreement. Such claims include, without limitation, claims arising under the Age Discrimination in
Employment Act, 29 U.S.C. § 621 et seq.; Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq.; the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq.; the Family and Medical Leave
Act of 1993, 29 U.S.C. § 2601 et seq.; the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et seq.; the Equal Pay Act of 1963, 29 U.S.C. § 206(d); Section 806 of the Corporate and Criminal Fraud
Accountability Act of 2002, 18 U.S.C. § 1681 et seq.; the Fair Credit Reporting Act, 15 U.S.C. §1681 et seq.; any other federal, state or local statutory laws relating to employment, discrimination in employment, termination
of employment, wages, benefits or otherwise; or any other federal, state or local constitution, statute, rule, or regulation, including, but not limited to, any ordinance addressing fair employment practices; any claims for employment or
reemployment by the Company Released Parties; any common law claims, including but not limited to actions in tort, defamation and breach of contract; any claim or damage arising out of Employee’s employment with or separation from the Company
Released Parties (including a claim for retaliation) under any common law theory or any federal, state or local statute or ordinance not expressly referenced above; and any and all claims for counsel fees, costs and interest. 

 b. To the fullest extent permitted by law, and subject to the provisions of
Section 1.d and 1.e below, Employee represents and affirms that he has not filed or caused to be filed on his behalf any claim for relief against any of the Company Released Parties or any releasee and, to the best of his
knowledge and belief, no outstanding claims for relief have been filed or asserted against the Company Released Parties or any releasee on his behalf. In the event Employee has filed or caused to be filed on his behalf any such claim for relief, he
shall promptly withdraw and dismiss such claim with prejudice. 
 c. In waiving and releasing any and all waivable claims whether or not now
known, Employee understands that this means that, if he later discovers facts different from or in addition to those facts currently known by him, or believed by him to be true, the waivers and releases of this Agreement will remain effective in all
respects — despite such different or additional facts and his later discovery of such facts, even if he would not have agreed to this Agreement if he had prior knowledge of such facts. 

d. Nothing in this Section 1, or elsewhere in this Agreement, prevents or prohibits Employee from filing a claim with a government
agency, such as the U.S. Equal Employment Opportunity Commission, that is responsible for enforcing a law on behalf of the government. However, Employee understands that, because Employee is waiving and releasing, among other things, any and all
claims for monetary damages and any other form of personal relief (per Section 1.a above), Employee may only seek and receive non-monetary forms of relief through any such claim. 

e. Nothing in this Section 1, or elsewhere in this Agreement, is intended as, or shall be deemed or operate as, a release by the
Employee (i) of any claims for payments to which the Employee is entitled under the express language of Section 6 of the Employment Agreement, (ii) of any claims for vested benefits (e.g., medical or 401(k) benefits) and
(iii) of any right that the Employee had immediately prior to his termination of employment to be indemnified by any Company Released Party or to coverage under any directors and officers insurance policy and any run-off policy thereto. 

2. No Admission of Liability. It is understood that nothing in this Agreement is to be construed as an admission on behalf of the Company Released
Parties of any wrongdoing with respect to the Employee, any such wrongdoing being expressly denied. 
 3. Acknowledgement of Waiver and Release of Claims
Under ADEA. 
 a. The Employee acknowledges that, pursuant to Section 1 hereof, he is agreeing to waive and release any
claims he may have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that he is doing so knowingly and voluntarily. The Employee also acknowledges that the consideration given for the ADEA waiver and release under
this Agreement is in addition to anything of value to which the Employee was already entitled. The Employee further acknowledges that he has been advised by the Company, as required by the ADEA, that: 

i. the ADEA waiver and release contained in this Agreement does not apply to any rights or claims that may arise after the date he signs this
Agreement; 
 ii. he should consult with an attorney prior to signing this Agreement (although he may choose voluntarily not to do so); 

iii. he has had at least twenty-one (21) days within which to consider this Agreement (although he may choose voluntarily to sign it
earlier); 
 iv. he has seven (7) days following the date he signs this Agreement to revoke this Agreement by delivering a written
notice of such revocation to [PERSON/ADDRESS]; and 

  
 2 

 v. this Agreement shall not become effective or enforceable until the first day following the end
of the seven-day revocation period; provided that the Employee has signed, returned and not revoked this Agreement in accordance with the terms hereof. 

b. Nothing in this Agreement shall prevent the Employee from challenging or seeking a determination in good faith of the validity of the ADEA
waiver and release contained in this Agreement, nor does it prevent the Employee from filing a charge with the EEOC to enforce the ADEA, nor does it impose any condition precedent, penalties or costs for doing so, unless specifically authorized by
federal law. 
 4. Miscellaneous. 
 a.
Governing Law. This Agreement will be governed by, and construed in accordance with, the laws of the State of Ohio without giving effect to its conflict of laws principles. 

b. Consent to Jurisdiction. Any action by the parties hereto related to this Agreement may be instituted in any state or federal court
having proper subject matter jurisdiction located within the State of Ohio, or in any other court in which jurisdiction is otherwise proper. Accordingly, the Company and the Employee irrevocably and unconditionally (a) submit to the
jurisdiction of any such court and (b) waive (i) any objection to the laying of venue of any such action brought in such court and (ii) any claim that any such action brought in any such court has been brought in an inconvenient
forum. 
 c. Prior Agreements. Unless stated otherwise expressly herein, only the terms and conditions of Sections 4.7, 8,
9, and 12 of the Employment Agreement shall remain in full force and effect. 
 d. Construction. There shall be no
presumption that any ambiguity in this Agreement should be resolved in favor of one party hereto and against another party hereto. Any controversy concerning the construction of this Agreement shall be decided neutrally without regard to authorship.

 e. Counterparts. This Agreement may be executed in any number of counterparts, each of which so executed will be deemed to be an
original, and such counterparts will, when executed by the parties hereto, together constitute but one agreement. Facsimile and electronic signatures shall be deemed to be the equivalent of manually signed originals. 

THE UNDERSIGNED HAVE CAREFULLY READ THE FOREGOING AGREEMENT, KNOW THE CONTENTS THEREOF, FULLY UNDERSTAND IT, AND SIGN THE SAME AS HIS OR ITS OWN FREE ACT.

 [Signature Page to Follow] 

  
 3 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
set forth above. 
  

			
	Cedar Fair, L.P.

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

 
			
	
	Cedar Fair Management, Inc.

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

 
			
	
	Magnum Management Corp.

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

  

	
	EMPLOYEE
	
	   

	Matthew A. Ouimet

 [Signature Page to Matthew A. Ouimet Release Agreement] 

  
 4Exhibit 4.1

 

COMMON STOCK PURCHASE AGREEMENT

 

This Common Stock Purchase
Agreement (this “Agreement”) is made and entered into as of September 29, 2017, by and among AudioEye,
Inc., a Delaware corporation (the “Company”), and the investors set forth on Exhibit A attached
hereto (each an “Investor” and collectively, the “Investors”).

 

RECITALS

 

The Company desires
to sell to the Investors, and the Investors desire to purchase from the Company, shares (the “Shares”)
of common stock, $0.00001 par value per share, of the Company (“Common Stock”).

 

AGREEMENT

 

In consideration of
the foregoing recitals and the mutual promises set forth in this Agreement, the parties to this Agreement agree as follows:

 

Section 1.                 
AUTHORIZATION AND SALE.

 

1.1           
Authorization. The Company has duly authorized the issuance and sale, pursuant to the terms of this Agreement,
of the Shares against payment of the purchase price therefor.

 

1.2           
Subscription. Upon the terms and subject to the conditions set forth in this Agreement, each Investor, severally
and not jointly, hereby irrevocably subscribes for and agrees to purchase, and the Company hereby agrees to issue and sell to the
Investors, at the Closing (as defined below), the number of Shares indicated opposite such Investor’s name on Exhibit A
in the column captioned “Shares of Common Stock” at a purchase price of $0.14 per Share (the “Purchase
Price”) for the aggregate purchase price set forth opposite such Investor’s name on Exhibit A in the
column captioned “Aggregate Purchase Price” (the “Investor’s Commitment”). Each Investor
shall pay the Investor’s Commitment in full by wire transfer of immediately available funds to the Company at the Closing.
Notwithstanding anything in this Agreement to the contrary, the Company shall have no obligation to issue any Shares to any person
who is a resident of a jurisdiction in which the issuance of any of the Shares would constitute a violation of the securities,
“blue sky” or other similar laws of such jurisdiction (collectively referred to as the “State Securities
Laws”).

 

1.3           
Closing. The initial closing of the purchase and sale of the Shares hereunder (the “Initial Closing”)
shall take place remotely via the electronic exchange of documents and signature pages, on or about the date hereof, or at such
other time and place as the Company and the Investors mutually agree upon (which time and place are referred to in this Agreement
as the “Initial Closing Date”).

 

1.4           
Additional Closings.

 

(a)                  
From and after the Initial Closing, the Company shall have the right to sell up to the balance of the remaining Shares pursuant
to this Agreement at one or more additional closings occurring within 30 days of the Initial Closing Date (each, an “Additional
Closing”), and to add additional entities and persons as “Investors” hereunder and as parties hereto.
No Investor in the Initial Closing is obligated to purchase Shares in the Additional Closing.

 

     

     

    

 

(b)                  
The aggregate number of Shares issued in any Closings shall not exceed 12,500,000 Shares. Each Additional Closing shall
take place remotely via the electronic exchange of documents and signature pages, on a date or dates determined by the Company
and the Investors purchasing additional Shares at such Additional Closing (each such date, an “Additional Closing Date”).
Any Shares issued pursuant to this Section 1.4 shall be deemed to be “Shares” for all purposes under this
Agreement and at the same per share Purchase Price. The Initial Closing and each Additional Closing shall constitute and be treated
as a “Closing” hereunder, and the Initial Closing Date and each Additional Closing Date shall constitute
and be treated as a “Closing Date” hereunder. At the Initial Closing and each Additional Closing, the
Company shall issue and deliver to the Investors participating in such Closing the Shares, each registered in the name of such
Investors, against payment to the Company of the purchase price therefor.

 

1.5           
Separate Sales. The Company’s agreement with each of the Investors is a separate agreement, and the sale
of the Shares to each of the Investors is a separate sale.

 

1.6           
Use of Proceeds. The Company shall use the proceeds from the sale of the Shares set forth herein solely for working
capital and other general corporate purposes.

 

Section 2.                 
REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company represents and warrants to each of the Investors that:

 

2.1           
Organization, Good Standing and Qualification. The Company has been duly incorporated and organized, and is validly
existing and in good standing, under the laws of the State of Delaware. The Company has all requisite corporate power and authority
to execute, deliver, and perform its obligations under this Agreement, and any other agreements contemplated by this Agreement,
to own and operate its properties and assets, and to carry on its business as currently conducted and as presently proposed to
be conducted. The Company is presently qualified to do business as a foreign corporation and is in good standing in each jurisdiction
in which the failure to be so qualified would have a material adverse effect on the Company’s assets or financial condition.

 

2.2           
Due Authorization. All corporate action on the part of the Company, its directors and stockholders necessary
for the authorization, execution, delivery, and performance of all obligations of the Company under this Agreement, the authorization,
issuance, reservation for issuance, and delivery of all of the Shares has been taken or shall be taken prior to the Closing, and
this Agreement constitutes a valid and legally binding obligation of the Company, enforceable in accordance with its terms, except
as may be limited by (i) applicable bankruptcy, insolvency, reorganization, or other laws of general application relating to or
affecting the enforcement of creditors’ rights generally and (ii) the effect of rules of law governing the availability of
equitable remedies, and shall be free of any liens, encumbrances, or restrictions on transfer (other than those created or contemplated
by this Agreement or under applicable state and/or federal securities laws).

 

2.3           
Valid Issuance of Securities. The Shares, when issued and paid for as provided in this Agreement, shall be duly
authorized and validly issued, fully paid, and nonassessable. The Shares have been duly and validly reserved for issuance, and
upon issuance in accordance with the terms hereof, shall be duly authorized and validly issued, fully paid, and nonassessable.

 

2.4           
Governmental Consents. No consent, approval, order, or authorization of or registration, qualification, designation,
declaration, or filing with, any federal, state, or local governmental authority is required on the part of the Company in order
to enable the Company to execute, deliver, and perform its obligations under this Agreement except for such qualifications or filings
under applicable securities laws as may be required in connection with the transactions contemplated by this Agreement, which qualifications
or filings have been made or will be made promptly following the applicable Closing Date, in accordance with applicable law.

 

    	 	2	 

     

    

 

2.5           
Noncontravention. The execution, delivery, and performance of this Agreement and the consummation of the transactions
contemplated by this Agreement shall not result in any such violation or default or be in conflict with or result in a violation
or breach of, with or without the passage of time or the giving of notice or both, the Company’s certificate of incorporation
or bylaws, any judgment, order, or decree of any court or arbitrator to which the Company is a party or is subject, any agreement
or contract of the Company, or, to the Company’s knowledge, a violation of any statute, law, regulation, or order, or an
event which results in the creation of any lien, charge, or encumbrance upon any asset of the Company.

 

2.6           
SEC Documents. The Company has filed all reports, schedules, forms, statements and other documents required to
be filed by the Company with the Securities and Exchange Commission (the “SEC”) since January 1, 2014,
pursuant to Sections 13(a), 14(a) and 15(d) of the of the Securities and Exchange Act of 1934, as amended (the “Exchange
Act”) (collectively, the “SEC Documents”). As of its respective filing date, each SEC Document
complied in all material respects with the requirements of the Exchange Act and the rules and regulations of the SEC promulgated
thereunder applicable to such SEC Document, and did not contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading. Except to the extent that information contained in any SEC Document has been revised or superseded
by a later filed SEC Document, none of the SEC Documents as of the date hereof contains any untrue statement of a material fact
or omits to state any material fact required to be stated therein or necessary in order to make the statements therein, in light
of the circumstances under which they were made, not misleading. As of the date of this Agreement, to the knowledge of the Company,
none of the SEC Documents is the subject of any ongoing review by the SEC. The audited consolidated financial statements and the
unaudited quarterly financial statements (including, in each case, the notes thereto) of the Company included in the SEC Documents
when filed complied as to form in all material respects with the published rules and regulations of the SEC with respect thereto,
have been prepared in all material respects in accordance with United States generally accepted accounting principles (except,
in the case of unaudited quarterly statements, as permitted by Form 10-Q of the SEC or other rules and regulations of the SEC)
applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto) and fairly present
in all material respects the consolidated financial position of the Company and its consolidated subsidiaries as of the dates thereof
and the consolidated results of their operations and cash flows for the periods then ended (subject, in the case of unaudited quarterly
statements, to normal year-end adjustments).

 

Section 3.                 
REPRESENTATIONS AND WARRANTIES OF THE INVESTORS. Each Investor represents and warrants to, and agrees with the
Company, severally and not jointly and only with respect to itself, that:

 

3.1           
Authorization. The Investor has full power and authority to enter into this Agreement and this Agreement constitutes
the Investor’s valid and legally binding obligation, enforceable in accordance with its terms except (i) as may be limited
by applicable bankruptcy, insolvency, reorganization, or other laws of general application relating to or affecting the enforcement
of creditors’ rights generally, and (ii) as may be limited by the effect of rules of law governing the availability of equitable
remedies.

 

3.2           
Purchase for Own Account. The Shares shall be acquired for investment for the Investor’s own account, not
as a nominee or agent, and not with a view to the public resale or distribution of the Shares within the meaning of the Securities
Act of 1933, as amended (the “Securities Act”) and the Investor has no present intention of selling,
granting any participation in, or otherwise distributing the same. If other than an individual, the Investor also represents that
it has not been formed for the specific purpose of acquiring the Shares.

 

3.3           
Exempt Offering. The Investor acknowledges that the Shares have not been registered under the Securities Act
and are being offered and sold pursuant to an exemption from registration contained in the Securities Act based in part upon the
representations of the Investors contained in this Agreement.

 

    	 	3	 

     

    

 

3.4           
Disclosure of Information. The Investor believes that it has received all the information it considers necessary
or appropriate for deciding whether to purchase any Shares pursuant to this Agreement. The Investor has had an opportunity to ask
questions and receive answers from the Company regarding the terms and conditions of the offering of the Shares and the business,
properties, prospects, and financial condition of the Company and to obtain additional information (to the extent the Company possessed
such information or could acquire it without unreasonable effort or expense) necessary to verify any information furnished to the
Investor or to which the Investor had access.

 

3.5           
Investment Experience. The Investor has experience as an investor in securities of companies in the development
stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment in the Shares, and has
such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of this investment
in the Shares.

 

3.6           
Accredited Investor Status. The Investor is an “accredited investor” within the meaning of SEC Rule
501 of Regulation D, as presently in effect.

 

3.7           
Restricted Securities. The Investor understands that the Shares are characterized as “restricted securities”
under the Securities Act inasmuch as they are being (or shall be) acquired from the Company in a transaction not involving a public
offering and that under the Securities Act and applicable regulations under the Securities Act such Shares may be resold without
registration under the Securities Act only in certain limited circumstances. In this connection, the Investor represents that it
is familiar with SEC Rule 144, as presently in effect, and understands the resale limitations imposed by SEC Rule 144 and by the
Securities Act. The Investor understands that the Company is under no obligation to register any of the Shares sold under this
Agreement. The Investor understands that no market now exists for any of the Shares, and that it is uncertain whether a market,
public or otherwise, shall ever exist for the Shares.

 

3.8           
Further Limitations on Disposition. Without in any way limiting the representations set forth above, the Investor
further agrees not to make any disposition of all or any portion of the Shares unless and until:

 

(a)                  
there is then in effect a registration statement filed with the SEC (a “Registration Statement”)
covering such proposed disposition and such disposition is made in accordance with such Registration Statement; or

 

(b)                  
the Investor shall have notified the Company of the proposed disposition and shall have furnished the Company with a statement
of the circumstances surrounding the proposed disposition, and, if reasonably requested by the Company, the Investor shall, at
the expense of the Investor or its transferee, furnish the Company with an opinion of counsel, reasonably satisfactory to the Company,
that such disposition shall not require registration of such Shares under the Securities Act.

 

    	 	4	 

     

    

 

Notwithstanding the
provisions of Subsections (a) and (b) above, no such Registration Statement or opinion of counsel shall be required
for: any transfer of any Shares by an Investor (i) pursuant to a transaction exempt from the registration requirements of
the Securities Act, (ii) to any affiliate of such Investor, to a family member of such Investor, or to any trust, partnership,
limited liability company or custodianship established for estate-planning purposes for the primary benefit of such Investor or
his or her family members or (iii) if the Shares have been held for the appropriate amount of time for the Shares to be permitted
to be resold under Rule 144 and the selling Investor is not an affiliate or otherwise subject to the volume limitations in Rule
144; provided that in each of the foregoing cases the transferee shall, prior to giving effect to such transfer, agree in
writing to be subject to the terms of this Section to the same extent as if the transferee were an original Investor under this
Agreement.

 

3.9           
Legends. It is understood that the instruments evidencing the Shares shall bear legends substantially similar
to the legends set forth below (in addition to any legend required under applicable state securities laws):

 

(a)                  
“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER UNITED STATES FEDERAL OR STATE SECURITIES
LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, OR OTHERWISE TRANSFERRED OR ASSIGNED FOR VALUE, DIRECTLY OR INDIRECTLY, NOR MAY THE
SECURITIES BE TRANSFERRED ON THE BOOKS OF THE COMPANY, WITHOUT REGISTRATION OF SUCH SECURITIES UNDER ALL APPLICABLE UNITED STATES
FEDERAL OR STATE SECURITIES LAWS OR COMPLIANCE WITH AN APPLICABLE EXEMPTION THEREFROM, SUCH COMPLIANCE, AT THE OPTION OF THE COMPANY,
TO BE EVIDENCED BY AN OPINION OF SHAREHOLDER’S COUNSEL, IN A FORM ACCEPTABLE TO THE COMPANY, THAT NO VIOLATION OF SUCH REGISTRATION
PROVISIONS WOULD RESULT FROM ANY PROPOSED TRANSFER OR ASSIGNMENT.”

 

(b)                  
Any other legends required by State Securities Laws applicable to any individual Investor or under any agreement to which
the Investor is a party to with the Company.

 

(c)                  
The legend set forth in Section 3.9(a) shall be removed and the Company shall issue a certificate (or issue in an
uncertificated form) without such legend or any other legend to the Investors if (a) such Shares are sold pursuant to an effective
Registration Statement (provided that each of the Investors agrees to only sell such Shares during such time that the Registration
Statement is effective and not withdrawn or suspended, and only as permitted by the Registration Statement), (b) such Shares are
sold or transferred pursuant to, and in accordance with all requirements of, Rule 144 (including, if applicable, the volume, manner-of-sale
and notice filing provisions of Rule 144), or (c) such Shares are eligible for sale under Rule 144, without the requirement for
the Company to be in compliance with the current public information required under Rule 144 as to such Shares and without volume
or manner-of-sale restrictions. The Company shall bear all costs incurred by it or an Investor relating to the removal of the legend
in accordance with this Section 3.9(c), provided that the Company shall not be liable for any transfer taxes relating to
the issuance of a new certificate or statement in the name of any person other than the relevant Investor and its affiliates.

 

    	 	5	 

     

    

 

Section 4.        
CONDITIONS.

 

4.1           
Conditions to the Obligations of the Investors at Closing. The obligation of each of Investor to purchase Shares
at any Closing is subject to the fulfillment, or the waiver by such Investor, of the following conditions on or before such Closing.

 

(a)                  
The representations and warranties in Section 2 shall be true, accurate and complete at and as of the Closing in
all material respects (except with respect to any provisions including the word “material” or words of similar import
with respect to which such representations shall be true, accurate and complete) with the same effect as though such representations
and warranties had been made on and as of the date of the Closing.

 

(b)                  
The Company shall have performed and complied with all agreements and conditions in this Agreement required to be performed
or complied with by the Company prior to or at the Closing.

 

(c)                  
All corporate and other proceedings in connection with the transactions contemplated in this Agreement and all documents
and instruments incident to such transactions shall be reasonably satisfactory in substance and form to the Investor, or counsel
to the Investors, and the Investor or its special counsel shall have received all such counterpart originals or certified or other
copies of such documents as they may reasonably request.

 

(d)                  
Approvals of the appropriate governing authority of each Investor necessary for performance of the transactions contemplated
by this Agreement shall have been obtained.

 

(e)                  
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by this Agreement.

 

(f)                   
The Common Stock shall not have been suspended, as of such Closing Date, by the SEC.

 

(g)                  
There shall have been no material adverse effect on the Company.

 

4.2           
Conditions to the Obligations of the Company at Closing. The obligations of the Company to issue and sell Shares
to an Investor at any Closing are subject to the fulfillment, or the waiver by the Company, of the following condition on or before
such Closing.

 

(a)                  
The representations and warranties of the Investors in Section 3 shall be true, accurate and complete at and as of
the Closing in all material respects with the same effect as though such representations and warranties had been made on and as
of the date of the Closing.

 

(b)                  
The Company shall have obtained all necessary permits and qualifications, or shall have the availability of exemptions therefrom,
required by any state for the offer and sale of the Shares.

 

(c)                  
Approvals of the Board (as defined below) necessary for performance of the transactions contemplated by this Agreement shall
have been obtained.

 

    	 	6	 

     

    

 

Section 5.        
POST-CLOSING COVENANTS.

 

5.1           
Indemnification of Investors. The Company will indemnify and hold each Investor and its shareholders, members,
partners, direct and indirect investors, directors, managers, officers, employees, affiliates and agents (and any other persons
with a functionally equivalent role of a person holding such titles notwithstanding a lack of such title or any other title), each
person who controls such Investor (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act),
and the shareholders, members, partners, direct and indirect investors, directors, managers, officers, employees, affiliates and
agents (and any other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of such
title or any other title) of such controlling persons (each, a “Investor Party”) harmless from any and
all losses, liabilities, obligations, claims, contingencies, penalties, fees, damages, fines, charges, contingencies, costs and
expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and disbursements
and costs of investigation, defending or preparing to defend that any such Investor Party may suffer or incur (irrespective of
whether any such Investor Party is a party to the action, claim, suit, investigation or proceeding (including, without limitation,
an investigation or partial proceeding, such as a deposition), whether commenced or threatened (each, a “Proceeding”)
for which indemnification hereunder is sought) as a result of or relating to (a) any misrepresentation or any breach of any of
the representations, warranties, obligations, covenants or agreements made by the Company in this Agreement and (b) any Proceeding
instituted against an Investor in any capacity, or any of them or their respective affiliates, with respect to any of the transactions
contemplated by this Agreement (unless such Proceeding is based upon a misrepresentation by such Investor or a breach of such Investor’s
representations, warranties, obligations, covenants or agreements under this Agreement or any agreements or understandings such
Investor may have with any such shareholder or any violations by such Investor of state or federal securities laws or any conduct
by such Investor which constitutes fraud, gross negligence or willful misconduct). The indemnity agreements contained herein shall
not be an exclusive remedy but shall be in addition to any cause of action or similar right in law or in equity of any Investor
Party against the Company or others, and any liabilities the Company may be subject to pursuant to law.

 

5.2           
Indemnification of the Company. Each Investor, severally and not jointly with the other Investor, will indemnify
and hold harmless the Company, and its officers, directors, controlling persons, agents, advisors, representatives and employees
(each, a “Company Party”), from any and losses, liabilities, obligations, claims, contingencies, penalties,
fees, damages, fines, charges, contingencies, costs and expenses, including all judgments, amounts paid in settlements, court costs
and reasonable attorneys’ fees and disbursements and costs of investigation, defending or preparing to defend that any such
Company Party may suffer or incur (irrespective of whether any such Company Party is a party to the Proceeding for which indemnification
hereunder is sought) as a result of or relating to any misrepresentation or any breach of any of the representations, warranties,
obligations, covenants or agreements made by such Investor in this Agreement. The indemnity agreements contained herein shall not
be an exclusive remedy but shall be in addition to any cause of action or similar right in law or in equity of the Company against
such Investor or others and any liabilities such Investor may be subject to pursuant to law.

 

5.3           
Furnishing of Information. In order to enable the Investors to sell the Shares under Rule 144, for a period of
twelve (12) months from each Closing Date, the Company shall use its commercially reasonable efforts to timely file (or obtain
extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after
the date hereof pursuant to the Exchange Act. During such twelve (12) month periods, if the Company is not required to file reports
pursuant to the Exchange Act, it will prepare and furnish to the Investors and make publicly available in accordance with Rule
144(c) such information as is required for the Investors to sell the Shares under Rule 144.

 

    	 	7	 

     

    

 

5.4           
Securities Laws Disclosure; Publicity; Confidentiality. By 5:30 P.M., New York City time, on or prior to the
fourth (4th) trading day immediately following the date hereof, the Company may issue a press release (the “Press Release”)
disclosing all material terms of the transactions contemplated hereby and file a Current Report on Form 8-K with the SEC describing
the terms of this Agreement. Each Investor, severally and not jointly with the other Investors, covenants that until such time
as the transactions contemplated by this Agreement are publicly disclosed by the Company as described in this Section 5.4,
such Investor will maintain the confidentiality of all disclosures made to it in connection with this transaction (including the
existence and terms of this transaction).

 

5.5           
Registration Rights. 

 

(a)                  
At any time after 30 days after the listing of the Common Stock on a national securities exchange such as the New York Stock
Exchange or The Nasdaq Stock Market, the Investors holding at least 35% of the Shares issued pursuant to this Agreement shall have
the right to request up to 2 of registrations per year under the Securities Act of all or any portion of their Shares pursuant
to a registration statement or, at such requesting Investors’ option, pursuant to a registration statement, including the
prospectuses, for offerings to be made on a delayed or continuous basis pursuant to Rule 415 of the Securities Act or any successor
rule thereto, on Form S-3 or on such other form appropriate for such purpose (a “Shelf Registration”)
(collectively, the “Registration Statements”), provided that, in each case, (i) in the case of an underwritten
offering, the anticipated aggregate offering price (including, for the avoidance of doubt, the aggregate offering price of shares
offered by persons other than the Investors), net of Selling Expenses (as defined below), would exceed $10 million and (ii) notwithstanding
the foregoing obligations, if the Company furnishes to the Investors requesting a registration pursuant to this Section 5.5
a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Company’s
Board of Directors it would be materially detrimental to the Company and its stockholders for such registration statement to either
become effective or remain effective for as long as such registration statement otherwise would be required to remain effective,
because such action would (x) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction
involving the Company, (y) require premature disclosure of material information that the Company has a bona fide business purpose
for preserving as confidential, or (z) render the Company unable to comply with requirements under the Securities Act or Exchange
Act, then the Company shall have the right to defer taking action with respect to such filing for a period of not more than 90
days after such registration request of the Investors is given. Each request for registration shall specify the number of Shares
requested to be included in the registration, and the Registration Statement shall cover all Shares that the requesting Investors
have requested to be included. Any prospectus filed as part of any Registration Statement filed pursuant to this Section 5.5(a)
shall include underwritten public offerings in the plan of distribution, unless otherwise consented to by a majority of the requesting
Investors. For the purposes of this Section 5.5(a), “Selling Expenses” means all underwriting
discounts, selling commissions, and stock transfer taxes applicable to the sale of the Shares, and fees and disbursements of counsel
for any Investor, except for the fees and expenses of one counsel for the holders of Shares participating in such registration
as a group borne and paid by the Company as provided in Section 5.5(d).

 

(b)                  
If and whenever the Investors request that the offer and sale of any of their Shares be registered under the Securities
Act pursuant to this Section 5.5, the Company shall use its best efforts to effect the registration of the offer and sale
of such Shares under the Securities Act in accordance with the intended method of disposition thereof, and pursuant thereto the
Company shall as soon as practicable and applicable:

 

(i)                
prepare and file with (or confidentially submit to) the SEC a Registration Statement covering the applicable Shares and
use its best efforts to cause such Registration Statement to be declared effective as soon as practicable thereafter;

 

    	 	8	 

     

    

 

(ii)                          
prepare and file with the SEC such amendments, post-effective amendments and supplements to such Registration Statement
and, in the case of a Shelf Registration the prospectus used in connection therewith as may be necessary to keep such Registration
Statement effective for a period of not less than two (2) years from the date the Registration Statement is first declared effective
by the SEC, or if earlier, until all of such Shares have been disposed of and to comply with the provisions of the Securities Act
with respect to the disposition of such Shares in accordance with the intended methods of disposition set forth in such Registration
Statement;

 

(iii)                        
within a reasonable time before filing such Registration Statement, prospectus or amendments or supplements thereto with
the SEC, furnish to one counsel selected by holders of a majority of such Shares copies of such documents proposed to be filed,
which documents shall be subject to the review, comment and approval of such counsel;

 

(iv)                         
use its best efforts to register or qualify such Shares under such other securities or "blue sky" laws of such
jurisdictions as any selling Investor requests and do any and all other acts and things which may be necessary or advisable to
enable such selling Investors to consummate the disposition in such jurisdictions of the Shares owned by such Investors; and

 

(v)                           
in connection with an underwritten offering (which may be part of a Shelf Registration), enter into such customary agreements
(including an underwriting agreement in customary form containing customary representations, warranties and indemnifications) and
take all such other customary actions as the holders of such Shares or the managing underwriter of such offering request in order
to expedite or facilitate the disposition of such Shares (including, without limitation, cooperating in the due diligence process,
making appropriate officers of the Company available to participate in "road show" and other customary marketing activities
(including one-on-one meetings with prospective purchasers of the Shares)).

 

(c)                  
Whenever the Company proposes to register the offer and sale of any shares of its Common Stock under the Securities Act
(other than a registration (i) pursuant to a registration statement on Form S-8 or other registration solely relating to an offering
or sale to employees or directors of the Company pursuant to any employee stock plan or other employee benefit arrangement, (ii)
pursuant to a registration statement on Form S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities
Act or any successor rule thereto), or (iii) in connection with any dividend or distribution reinvestment or similar plan), whether
for its own account or for the account of one or more stockholders of the Company and the form of registration statement (a “Piggyback
Registration Statement”) to be used may be used for any registration of Shares, the Company shall give prompt written
notice (in any event no later than 30 days prior to the filing of such registration statement) to the Investors of its intention
to effect such a registration. A Piggyback Registration Statement shall not be considered a demand registration for the purposes
of Section 5.5(a). The Company shall use its best efforts to include in such registration all Shares held by Investors with
respect to which the Company has received written requests for inclusion from the Investors within 10 days after the Company’s
notice has been given to each Investor and the Company’s obligations pursuant to Section 5.5(b), as applicable, shall
apply to any such registration and sale.

 

    	 	9	 

     

    

 

(d)                  
 All expenses incurred by the Company in complying with its obligations pursuant to this Section 5.5 and in connection
with the registration and disposition of Shares shall be paid by the Company, including, without limitation, all (i) registration
and filing fees (including, without limitation, any fees relating to filings required to be made with, or the listing of any Shares
on, any securities exchange or over-the-counter trading market on which the Shares are listed or quoted); (ii) underwriting expenses;
(iii) expenses of any audits incident to or required by any such registration; (iv) fees and expenses of complying with securities
and "blue sky" laws (including, without limitation, fees and disbursements of counsel for the Company in connection with
"blue sky" qualifications or exemptions of the Shares); (v) printing expenses; (vi) messenger, telephone and delivery
expenses; (vii) fees and expenses of the Company's counsel and accountants; (viii) Financial Industry Regulatory Authority, Inc.
filing fees (if any); and (ix) fees and expenses of one counsel for the holders of Shares participating in such registration as
a group (selected by, in the case of a registration pursuant to Section 5.5(a), the holders of a majority of the Shares
initially requesting such registration, and, in the case of all other registrations hereunder, the holders of a majority of the
Shares included in the registration). In addition, the Company shall be responsible for all of its internal expenses incurred in
connection with the consummation of the transactions contemplated by this Section 5.5 (including, without limitation, all
salaries and expenses of its officers and employees performing legal or accounting duties) and the expense of any annual audits.

 

(e)                  
The right of any Investor to request registration or inclusion of Shares in any registration pursuant to this Section
5.5 shall terminate upon the earliest to occur of:

 

(i)                            
immediately following the sale of all or substantially all the assets of the Company, any merger, consolidation or acquisition
of the Company with, by or into another corporation, entity or person in which the Company is not the surviving entity, or any
change in the ownership of more than fifty percent (50%) of the voting capital stock of the Company in one or more related transactions;
and

 

(ii)                          
 such time as Rule 144 or another similar exemption under the Securities Act is available for the sale of all of such Holder’s
shares without limitation during a three-month period without registration.

 

Section 6.        
GENERAL PROVISIONS.

 

6.1           
Successors and Assigns. Except as otherwise provided in this Agreement, the provisions of this Agreement shall
inure to the benefit of and be binding upon the respective successors and permitted assigns of the parties to this Agreement (including
permitted transferees of any Shares).

 

6.2           
Third Parties. Nothing in this Agreement, express or implied, is intended to confer upon any person, other than
the parties to this Agreement and their respective successors and assigns, any rights, remedies, obligations, or liabilities under
or by reason of this Agreement, except as expressly provided in this Agreement.

 

6.3           
Governing Law. This Agreement shall be governed by and construed exclusively in accordance with the internal
laws of the State of Delaware.

 

6.4           
Counterparts. This Agreement may be executed in two or more counterparts (including, without limitation, facsimile
counterparts), each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.

 

6.5           
Headings. The headings and captions used in this Agreement are used for convenience only and are not to be considered
in construing or interpreting this Agreement. All references in this Agreement to sections, subsections, exhibits, and schedules
shall, unless otherwise provided, refer to sections and subsections of this Agreement and exhibits and schedules attached to this
Agreement, all of which exhibits and schedules are incorporated in this Agreement by this reference.

 

    	 	10	 

     

    

 

6.6           
Notices. All notices, requests, consents, and other communications under this Agreement shall be in writing and
shall be delivered personally or by facsimile transmission or by nationally recognized overnight delivery service or by first class
certified or registered mail, return receipt requested, postage prepaid:

 

If to the Company,
at 5210 E Williams Circle, Tucson, Arizona 85711, Attention: Chief Executive Officer, or at such other address or addresses as
may have been furnished by giving five days advance written notice to all other parties, with a copy (which shall not constitute
notice) to DLA Piper LLP (US), 401 Congress Avenue, Suite 2500, Austin, Texas 78701, Attention: Jenifer R. Smith.

 

If to an Investor,
at its address set forth on Exhibit A, or at such other address or addresses as may have been furnished to the Company
by giving five days advance written notice.

 

Notices provided in
accordance with this Section shall be deemed delivered upon personal delivery (including confirmed facsimile) or three business
days after deposit in the mail.

 

6.7           
No Finder’s Fees. Each party represents that it neither is nor shall be obligated for any finder’s
or broker’s fee or commission in connection with the transactions contemplated by this Agreement. Each Investor, severally
and not jointly, agrees to indemnify and to hold harmless the Company from any liability for any commission or compensation in
the nature of a finder’s or broker’s fee (and any asserted liability) for which such Investor or any of its officers,
partners, employees, or representatives is responsible. The Company agrees to indemnify and hold harmless each Investor from any
liability for any commission or compensation in the nature of a finder’s or broker’s fee (and any asserted liability)
in connection with this Agreement for which the Company is responsible.

 

6.8           
Attorneys’ Fees and Expenses. Each party to this Agreement agrees to pay its own fees and expenses arising
in connection with the negotiation and execution of this Agreement and consummation of the transactions contemplated in this Agreement;
provided, however, that the Company shall reimburse the lead investor for its fees and expenses (including attorneys’ fees).
If any action, suit, or other proceeding is instituted concerning or arising out of this Agreement or any transaction contemplated
under this Agreement, the prevailing party shall recover all of such party’s costs and attorneys’ fees incurred in
each such action, suit, or other proceeding, including any and all appeals or petitions from such action, suit or other proceeding.

 

6.9           
Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent
of the Company and the Investors holding a majority of the then-outstanding Shares issued pursuant to this Agreement. Any amendment
or waiver effected in accordance with this Section shall be binding upon each Investor and the Company.

 

6.10       
Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law,
such provision(s) shall be excluded from this Agreement and the balance of this Agreement shall be interpreted as if such provision(s)
were so excluded and shall be enforceable in accordance with its terms.

 

6.11       
Entire Agreement. This Agreement, together with all exhibits and schedules to this Agreement, constitutes the
entire agreement and understanding of the parties with respect to the subject matter of this Agreement and supersedes any and all
prior negotiations, correspondence, agreements, understandings, duties, or obligations between the parties with respect to the
subject matter of this Agreement.

 

    	 	11	 

     

    

 

6.12       
Further Assurances. From and after the date of this Agreement, upon the request of the Investors or the Company,
the Company and the Investors shall execute and deliver such instruments, documents, or other writings as may be reasonably necessary
or desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement.

 

6.13       
Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any Investor upon
any breach or default of the Company under this Agreement shall impair any such right, power, or remedy of such Investor nor shall
it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default
thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default therefore
or thereafter occurring. Any waiver, permit, consent, or approval of any kind or character on the part of any Investor of any breach
or default under this Agreement or any waiver on the part of any Investor of any provisions or conditions of this Agreement must
be made in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under
this Agreement or by law or otherwise afforded to any Investor, shall be cumulative and not alternative.

 

6.14       
Confidentiality. Except as required by law, each Investor agrees that it shall keep confidential and shall not
disclose or divulge any confidential, proprietary, or secret information which such Investor may obtain from the Company pursuant
to financial statements, reports, and other materials submitted by the Company to such Investor pursuant to this Agreement or otherwise,
or pursuant to visitation or inspection rights granted under this Agreement, unless such information is known, or until such information
becomes known, to the public, other than as a result of the failure by any Investor to comply with this provision; provided
that an Investor may disclose such information to its attorneys, accountants, and financial advisors to the extent necessary to
obtain their services in connection with its investment in the Company.

 

6.15       
Survival. The representations, warranties and covenants contained herein shall continue and survive the execution
of this Agreement.

  

 

 

[Signature Pages Follow]

 

    	 	12	 

     

    

 

IN WITNESS WHEREOF,
the parties to this Agreement have executed this Agreement as of the date first written above.

 

	 	AUDIOEYE, INC.
	 	 	 
	 	 	 
	 	 	 
	 	By: 	 
	 	 	 
	 	Name: 	 
	 	 	 
	 	Title: 	 

  

 

Signature
Page to AudioEye, Inc.

Common
Stock Purchase Agreement

 

     

     

    

 

IN WITNESS WHEREOF,
the parties to this Agreement have executed this Agreement as of the date first written above.

 

	 	INVESTOR
	 	 	 
	 	If Entity:
	 	 	 
	 	Entity Name: 	 
	 	 	 
	 	 	 
	 	 	 
	 	By:	 
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 
	 	 	 
	 	 	 
	 	 	 
	 	If Individual:
	 	 	 
	 	Name: 	 
	 	 	 
	 	Signature: 	 

 

Purchase Amount: $____________________

  

 

Signature
Page to AudioEye, Inc.

Common
Stock Purchase Agreement

 

     

     

    

 

EXHIBIT A

 

 

 

SCHEDULE OF INVESTORS

 

Initial Closing

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