Document:

<PAGE>
                                                                   EXHIBIT 10.1

                 FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT

         THIS FIRST AMENDMENT TO TERM LOAN CREDIT AGREEMENT (this "First
Amendment") is dated as of October 15, 2003, among CARMIKE CINEMAS, INC. (the
"Borrower"), BNY ASSET SOLUTIONS LLC, as Administrative Agent (the
"Administrative Agent") and the Lenders signatory hereto (collectively, the
"Lenders");

                                  WITNESSETH:

         WHEREAS, the Borrower, the Administrative Agent and the Lenders party
thereto executed and delivered that certain Term Loan Credit Agreement, dated
as of January 31, 2002 (the "Credit Agreement");

         WHEREAS, the Borrower has requested and the Administrative Agent and
the Required Lenders have agreed to certain amendments to the Credit Agreement
pertaining to the covenant regarding Capital Expenditures, subject to the terms
and conditions hereof;

         NOW, THEREFORE, for and in consideration of the above premises and
other good and valuable consideration, the receipt and sufficiency of which
hereby is acknowledged by the parties hereto, the Borrower, the Administrative
Agent and the Lenders hereby covenant and agree as follows:

         1.       Definitions. Unless otherwise specifically defined herein,
each term used herein which is defined in the Credit Agreement shall have the
meaning assigned to such term in the Credit Agreement. Each reference to
"hereof, "hereunder", "herein" and "hereby" and each other similar reference
and each reference to "this Agreement" and each other similar reference
contained in the Credit Agreement shall from and after the date hereof refer to
the Credit Agreement as amended hereby.

         2.       Amendment to Section 5.23. Section 5.23 of the Credit
Agreement hereby is amended by deleting it in its entirely and substituting
therefor the following:

                           Section 5.23  Capital Expenditures.

                  At the end of each Fiscal Year, commencing with the Fiscal
                  Quarter ending December 31, 2002, Capital Expenditures for
                  such Fiscal Year shall not exceed the sum of: (i) the amount
                  set forth below for the Fiscal Years set forth below; plus
                  (ii) any unused amount from the prior Fiscal Year.

<TABLE>
<CAPTION>
                           Fiscal Year Ending                    Capital Expenditure Limit
                           ------------------                    -------------------------

                           <S>                                   <C>
                           December 31, 2002                      $20,000,000
                           December 31, 2003                      $20,000,000
                           December 31, 2004                      $25,000,000
                           December 31, 2005                      $25,000,000
                           December 31, 2006                      $25,000,000.
</TABLE>

<PAGE>
         3.       Amendment to Exhibit F (Form of Compliance Certificate).
Exhibit F to the Credit Agreement hereby is deleted and Exhibit F attached
hereto is substituted therefor.

         4.       Restatement of Representations and Warranties. The Borrower
hereby restates and renews each and every representation and warranty
heretofore made by it in the Credit Agreement and the other Loan Documents as
fully as if made on the date hereof (except where reference is made to a
specific date) and with specific reference to this First Amendment and all
other loan documents executed and/or delivered in connection herewith.

         5.       Effect of Amendment. Except as set forth expressly
hereinabove, all terms of the Credit Agreement and the other Loan Documents
shall be and remain in full force and effect, and shall constitute the legal,
valid, binding and enforceable obligations of the Borrower. The amendments
contained herein shall be deemed to have prospective application only, unless
otherwise specifically stated herein.

         6.       Ratification. The Borrower hereby restates, ratifies and
reaffirms each and every term, covenant and condition set forth in the Credit
Agreement and the other Loan Documents effective as of the date hereof.

         7.       Counterparts. This First Amendment may be executed in any
number of counterparts and by different parties hereto in separate counterparts
and delivered by facsimile, each of which when so executed and delivered
(including by facsimile) shall be deemed to be an original and all of which
counterparts, taken together, shall constitute but one and the same instrument.

         8.       Section References. Section titles and references used in
this First Amendment shall be without substantive meaning or content of any
kind whatsoever and are not a part of the agreements among the parties hereto
evidenced hereby.

         9.       No Default. To induce the Administrative Agent and the
Lenders to enter into this First Amendment and to continue to make advances
pursuant to the Credit Agreement, the Borrower hereby acknowledges and agrees
that, as of the date hereof, and after giving effect to the terms hereof, there
exists (i) no Default or Event of Default and (ii) no right of offset, defense,
counterclaim, claim or objection in favor of the Borrower arising out of or
with respect to any of the Loans or other obligations of the Borrower owed to
the Lenders under the Credit Agreement.

         10.      Further Assurances. The Borrower agrees to take such further
actions as the Administrative Agent shall reasonably request in connection
herewith to evidence the amendments herein contained.

         11.      Governing Law. This First Amendment shall be governed by and
construed and interpreted in accordance with, the laws of the State of New
York.

         12.      Conditions Precedent. This First Amendment shall become
effective only upon: (A) execution and delivery by facsimile to Jeff Scott, BNY
Asset Solutions LLC, facsimile no. 972-401-8557 (i) of this First Amendment by
the Borrower, the Administrative Agent and the Required Lenders and (ii) of the
Consent and Reaffirmation of Guarantors at the end hereof by

                                       2
<PAGE>
each of the Guarantors; (B) evidence satisfactory to the Administrative Agent
that the Revolver Credit Agreement has been amended, or a waiver granted
thereunder, so as to permit the Borrower to incur Capital Expenditures up to
the amounts permitted by Section 5.23, as in effect by virtue of this First
Amendment, for the Fiscal Years ending on and after December 31, 2003; and (C)
payment to the Administrative Agent, for the ratable account of the Lenders, of
an amendment fee in the aggregate amount of $275,000.

                                       3
<PAGE>
IN WITNESS WHEREOF, the Borrower, the Administrative Agent and each of the
Required Lenders has caused this First Amendment to be duly executed, under
seal, by its duly authorized officer as of the day and year first above written.

                                       CARMIKE CINEMAS, INC.,           (SEAL)
                                       as Borrower

                                       By: /s/ Martin A. Durant
                                           ------------------------------------
                                           Name:  Martin A. Durant
                                           Title: Senior Vice President - CFO

                                       4
<PAGE>
                                       BNY ASSET SOLUTIONS LLC,
                                       as Administrative Agent            (SEAL)

APPROVED - LEGAL                       By: /s/ James D. Vincent
          9-23-03                          ------------------------------------
--------  -------                          Name:  James D. Vincent
Initials   Date                            Title: President

                                       5
<PAGE>
                                    AVIARY ASSOCIATES, LP,
                                    as a Term Lender

                                    By: Aviary Capital Enterprise, Inc.

                                    By:
                                       ----------------------------
                                       Name:
                                       Title:

                                       6
<PAGE>
                                    BROOKVILLE CAPITAL MASTER FUND
                                    LP, as a Term Lender

                                    By: /s/ David Reiss
                                       ----------------------------
                                       Name: David Reiss
                                       Title:

                                       7
<PAGE>
                                   CALIFORNIA PUBLIC EMPLOYEES
                                   RETIREMENT SYSTEM, as a Term Lender

                                   By: Highland Capital Management, L.P.,
                                       as Authorized Representative of the Board

                                   By: /s/ Todd Travers
                                      ---------------------------
                                      Name: Todd Travers
                                      Title: Senior Portfolio Manager
                                             Highland Capital Management, L.P.

                                       8
<PAGE>
                                    CONTINENTAL ASSURANCE COMPANY,
                                    ON BEHALF OF ITS SEPARATE ACCOUNT
                                    (E), as a Term Lender

                                    By: /s/ Marilou R. McGirr
                                       ---------------------------
                                       Name: Marilou R. McGirr
                                       Title: Vice President

                                                      Form Approved
                                                      by Law Dept.
                                                          MDC
                                                          ---

                                       9
<PAGE>

                                       CONTINENTAL CASUALTY COMPANY,
                                       as a Term Lender

                                       By: /s/ Marilou R. McGirr
                                       ---------------------------------------
                                       Name: Marilou R. McGirr
                                       Title: Vice President

                                       10

<PAGE>

                                       CREDIT SUISSE FIRST BOSTON
                                       INTERNATIONAL, as a Term Lender

                                       By: /s/ Steven Martin
                                       ---------------------------------------
                                       Name: Mr. Steven Martin
                                       Title: Vice President

                                       11

<PAGE>

                                       DK ACQUISITION PARTNERS, L.P.,
                                       as a Term Lender

                                       By: /s/ Thomas L. Kempner
                                       ---------------------------------------
                                       Name: Thomas L. Kempner
                                       Title: General Partner

                                       12

<PAGE>

                                       EOS PARTNERS, L.P., as a Term Lender

                                       By: /s/ Tal Gurion
                                       ---------------------------------------
                                       Name: Tal Gurion
                                       Title: Principal

                                       13

<PAGE>

                                       FRANKLIN FLOATING RATE DAILY
                                       ACCESS FUND, as a Term Lender

                                       By: /s/ Richard Hsu
                                       ---------------------------------------
                                       Name: Richard Hsu
                                       Title: Asst. Vice President

                                       14

<PAGE>
                                                 FRANKLIN FLOATING RATE MASTER
                                                 SERIES FUND, as a Term Lender

                                                 By: /s/ Richard Hsu
                                                     ---------------------------
                                                     Name: Richard Hsu
                                                     Title: Asst. Vice President

                                       15
<PAGE>
                                                 FRANKLIN FLOATING RATE TRUST,
                                                 as a Term Lender

                                                 By: /s/ Richard Hsu
                                                     ---------------------------
                                                     Name: Richard Hsu
                                                     Title: Asst. Vice President

                                      16
<PAGE>
                                                 GENERAL ELECTRIC CAPITAL
                                                 CORPORATION, as a Term Lender

                                                 By:
                                                     ---------------------------
                                                     Name:
                                                     Title:

                                      17
<PAGE>
                                                 GOLDMAN SACHS CREDIT PARTNERS
                                                 L.P., as a Term Lender

                                                 By: /s/ Pedro Ramirez
                                                     ---------------------------
                                                     Name: Pedro Ramirez
                                                     Title: Authorized Signatory

                                      18
<PAGE>
                                                 GSC PARTNERS GEMINI FUND
                                                 LIMITED, as a Term Lender

                                                 By: /s/ Seth Katzenstein
                                                     ---------------------------
                                                     Name: Seth Katzenstein
                                                     Title: Vice President

                                      19
<PAGE>
                                                 KZH HIGHLAND-2 LLC,
                                                 as a Term Lender

                                                 By:
                                                     ---------------------------
                                                     Name:
                                                     Title:

                                      20
<PAGE>
                           LIBERTY FLOATING RATE ADVANTAGE
                           FUND, as a Term Lender

                           By: Columbia Management Advisors, Inc.,
                               as Advisor

                           By: /s/ James R. Fellows
                              ---------------------------------------------
                              Name:  James R. Fellows
                              Title: Sr. Vice President & Portfolio Manager

                                       21
<PAGE>
                                   MW POST OPPORTUNITY OFFSHORE
                                   FUND, LTD., as a Term Lender

                                   By: /s/  Henry Chyung
                                      ---------------------
                                      Name: Henry Chyung
                                      Title: Credit Analyst

                                       22

<PAGE>
                                    OPPENHEIMER SENIOR FLOATING RATE
                                    FUND, as a Term Lender

                                    By: /s/ Bill Campbell
                                       ---------------------------
                                       Name: Bill Campbell
                                       Title: Manager

                                       23
<PAGE>
                                    POST HIGH YIELD, LP, as a Term Lender

                                    By: /s/ Henry Chyung
                                       -----------------------
                                       Name: Henry Chyung
                                       Title: Credit Analyst

                                       24
<PAGE>
                                    POST OPPORTUNITY FUND, LP, as a Term
                                    Lender

                                    By: /s/ Henry Chyung
                                       ---------------------------
                                       Name: Henry Chyung
                                       Title: Credit Analyst

                                       25
<PAGE>
                                    PUTNAM DIVERSIFIED INCOME TRUST,
                                    as a Term Lender

                                    By: /s/  Beth Mazor
                                       -----------------------
                                       Name: Beth Mazor
                                       Title: Vice President

                                       26
<PAGE>
                                       PUTNAM HIGH YIELD ADVANTAGE TRUST,
                                       as a Term Lender

                                       By: /s/ Beth Mazor
                                           ---------------------------------
                                           Name:  Beth Mazor
                                           Title: Vice President

                                      27
<PAGE>
                                       PUTNAM HIGH YIELD TRUST,
                                       as a Term Lender

                                       By: /s/ Beth Mazor
                                           ---------------------------------
                                           Name:  Beth Mazor
                                           Title: Vice President

                                      28
<PAGE>
                                       PUTNAM MASTER INCOME TRUST,
                                       as a Term Lender

                                       By: /s/ Beth Mazor
                                           ---------------------------------
                                           Name:  Beth Mazor
                                           Title: Vice President

                                      29
<PAGE>
                                       PUTNAM MASTER INTERMEDIATE INCOME TRUST,
                                       as a Term Lender

                                       By: /s/ Beth Mazor
                                           ------------------------------------
                                           Name:  Beth Mazor
                                           Title: Vice President

                                      30
<PAGE>
                                                 PUTNAM PREMIER INCOME TRUST,
                                                 as a Term Lender

                                                 By: /s/ Beth Mazor
                                                     ---------------------------
                                                     Name: Beth Mazor
                                                     Title: Vice President

                                      31
<PAGE>
                                                 PUTNAM VARIABLE TRUST - PVT
                                                 DIVERSIFIED INCOME FUND,
                                                 as a Term Lender

                                                 By: /s/ Beth Mazor
                                                     ---------------------------
                                                     Name: Beth Mazor
                                                     Title: Vice President

                                      32
<PAGE>
                                                 PUTNAM VARIABLE TRUST - PVT
                                                 HIGH YIELD FUND, as a Term
                                                 Lender

                                                 By: /s/ Beth Mazor
                                                     ---------------------------
                                                     Name: Beth Mazor
                                                     Title: Vice President

                                      33
<PAGE>
                                    RCG ENDEAVOUR LLC, as a Term Lender

                                    By: Neil H. Rothenberg
                                       ---------------------------
                                       Name: Neil Rothenberg
                                       Title: Managing Director

                                       34
<PAGE>
                                    RESTORATION FUNDING CLO, LTD, as a
                                    Term Lender

                                    By: Highland Capital Management, L.P.,
                                        as Collateral Manager

                                    By: /s/ Todd Travers
                                       ----------------------------------------
                                       Name:  Todd Travers
                                       Title: Senior Portfolio Manager
                                              Highland Capital Management, L.P.

                                       35
<PAGE>
                                    SPCP GROUP LLC, as a Term Lender

                                    By: /s/ Edward A. Mule
                                       ----------------------------
                                       Name:
                                       Title:

                                       36
<PAGE>
                                       STEIN ROE FLOATING RATE LIMITED
                                       LIABILITY COMPANY, as a Term Lender

                                       By: Columbia Management Advisers, Inc.,
                                           as Advisor

                                       By: /s/ James R. Fellows
                                           ---------------------------------
                                           Name:  James R. Fellows
                                           Title: Sr. Vice President &
                                                  Portfolio Manager

                                      37
<PAGE>
                                       TRS THEBE LLC, as a Term Lender

                                       By: /s/ Alice L. Wagner
                                           ---------------------------------
                                           Name:  Alice L. Wagner
                                           Title: Vice President

                                      38
<PAGE>
                    This page is intentionally left blank.

                                      39
<PAGE>
                                    VAN KAMPEN SENIOR LOAN FUND, as a Term
                                    Lender

                                    By:
                                       ----------------------------------------
                                       Name:
                                       Title:

                                      40
<PAGE>
                                    VAN KAMPEN SENIOR INCOME TRUST, as a Term
                                    Lender

                                    By:
                                       ----------------------------------------
                                       Name:
                                       Title:

                                      41
<PAGE>
                    CONSENT AND REAFFIRMATION OF GUARANTORS

         Each of the undersigned (i) acknowledges receipt of the foregoing
First Amendment to Term Loan Credit Agreement (the "First Amendment"), (ii)
consents to the execution and delivery of the First Amendment by the parties
thereto and (iii) reaffirms all of its obligations and covenants under the
Guaranty dated as of January 31, 2002 executed by it, and agrees that none of
such obligations and covenants shall be affected by the execution and delivery
of the First Amendment. This Consent and Reaffirmation may be executed in any
number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to
be an original and all of which counterparts, taken together, shall constitute
but one and the same instrument

                                    WOODENNICKEL PUB, INC.              (SEAL)

                                    By: /s/ Martin A. Durant
                                       ----------------------------------------
                                       Title: Senior Vice President

                                    MILITARY SERVICE, INC.              (SEAL)

                                    By: /s/ Martin A. Durant
                                       ----------------------------------------
                                       Title: Senior Vice President

                                    EASTWYNN THEATERS, INC.             (SEAL)

                                    By: /s/ Martin A. Durant
                                       ----------------------------------------
                                       Title: Senior Vice President

                                      42
<PAGE>
                                   EXHIBIT F

                         FORM OF COMPLIANCE CERTIFICATE

         Reference is made to the Term Loan Credit Agreement dated as of
January 31, 2002 (as amended by First Amendment to Credit Agreement dated as of
September ____________, 2003, and as thereafter amended, supplemented or
otherwise modified from time to time, the "Credit Agreement"), among Carmike
Cinemas, Inc., the Lenders from time to time parties thereto, and BNY Asset
Solutions LLC, as Administrative Agent. Capitalized terms used herein shall
have the meanings ascribed thereto in the Credit Agreement.

         Pursuant to Section 5.0l(c) of the Credit Agreement,
______________________________, the duly authorized ___________________________,
of Carmike Cinemas, Inc., hereby certifies to the Administrative Agent and the
Lenders that the information contained in the Compliance Check List attached
hereto is true, accurate and complete as of ___________________, 20__, and that
no Default or Event of Default is in existence on and as of the date hereof.

                                    CARMIKE CINEMAS, INC.

                                    By:
                                    Title:

                                      43
<PAGE>
1.       Ratio of Funded Debt to EBITDA (Section 5.03) At the end of each Fiscal
Quarter, commencing with the Fiscal Quarter ending March 31, 2002, the ratio of
Funded Debt to EBITDA for the period of 4 consecutive Fiscal Quarters ending on
such date shall not be greater than the applicable ratio provided in the
following table:

<TABLE>
<CAPTION>
                  Fiscal Quarter Ending                      Applicable Ratio
                  ---------------------                      ----------------
                  <S>                                        <C>
                  March 31, 2002 through
                  December 31, 2002                            7.25 to 1.0
                  March 31, 2003 through
                  December 31, 2003                            7.00 to 1.0
                  March 31, 2004 through
                  December 31, 2004                            6.75 to 1.0
                  March 31, 2005 through
                  December 31, 2005                            6.25 to 1.0
                  Each Fiscal Quarter                          5.75 to 1.0
             (a)  Funded Debt - Schedule 1                    $ __________
             (b)  EBITDA - Schedule 2                         $ __________
             (c)  actual ratio of (a) to (b)                    ___ to 1.0
                  Maximum ratio:                              [7.25 to 1.0]
                                                              [7.00 to 1.0]
                                                              [6.75 to 1.0]
                                                              [6.25 to 1.0]
                                                              [5.75 to 1.0]
</TABLE>

                                      44
<PAGE>
         2.       Interest Coverage Ratio (Section 5.04)

         At the end of each Fiscal Quarter, commencing with the Fiscal Quarter
         ending March 31, 2002, the ratio of EBITDA to interest expense on
         Funded Debt of the Borrower and its Subsidiaries, calculated on a
         consolidated basis at the end of such Fiscal Quarter for the period of
         4 consecutive Fiscal Quarters ending on such date, shall not be less
         than the applicable ratio provided in the following table:

<TABLE>
<CAPTION>
                  Fiscal Quarter Ending                      Applicable Ratio
                  ---------------------                      ----------------
                  <S>                                        <C>
                  March 31, 2002 through
                  December 31, 2002                            1.50 to 1.0
                  March 31, 2003 through
                  December 31, 2003                            1.55 to 1.0
                  March 31, 2004 through
                  December 31, 2004                            1.65 to 1.0
                  March 31, 2005 through
                  December 31, 2005                            1.75 to 1.0
                  Each Fiscal Quarter                          1.85 to 1.0
             (a)  EBITDA - Schedule 2                        $ ___________
             (b)  interest expense on Funded Debt -
                  Schedule 3                                 $ ___________
             (c)  actual ratio of (a) to (b)                   ____ to 1.0
                  Minimum ratio:                              [1.50 to 1.0]
                                                              [1.55 to 1.0]
                                                              [1.65 to 1.0]
                                                              [1.75 to 1.0]
                                                              [1.85 to 1.0]
</TABLE>

                                      45
<PAGE>
         3.       Ratio of EBITDAR to Fixed Charges (Section 5.06)

         At the end of each Fiscal Quarter, commencing with the Fiscal Quarter
         ending March 31, 2000, the ratio of EBITDAR to Fixed Charges, in each
         case for the period of 4 consecutive Fiscal Quarters ending on such
         date, shall not be less than the applicable ratio provided in the
         following table:

<TABLE>
<CAPTION>
                  Fiscal Quarter Ending                      Applicable Ratio
                  ----------------------                     ----------------
                  <S>                                        <C>
                  March 31, 2002 through
                  December 31, 2002                            1.0 to 1.0
                  March 31, 2003 through
                  December 31, 2003                            1.0 to 1.0
                  March 31, 2004 through
                  December 31, 2004                            1.0 to 1.0
                  March 31, 2005 through
                  December 31, 2005                            1.0 to 1.0
             (a)  EBITDAR - Schedule 4                       $ __________
             (b)  Interest expense on Funded Debt
                  - Schedule 3                               $ __________
             (c)  Rental Obligations - Schedule 4            $ __________
             (d)  Fixed Charges (sum of (b) and (c)          $ __________
             (e)  actual ratio of (a) to (d)                   ___ to 1.0
                  Minimum ratio:                               1.0 to 1.0
</TABLE>

                                      46
<PAGE>
         4.       Negative Pledge (Section 5.07)

         Neither the Borrower nor any Subsidiary will create, assume or suffer
         to exist any Lien on any asset now owned or hereafter acquired by it,
         except:

                  (a)...(1) Liens on fixed assets (1) of any Person at the time
         such Person becomes a Subsidiary and not created in contemplation of
         such event, (2) of any Person existing at the time such Person is
         merged or consolidated with or into the Borrower or a Subsidiary and
         not created in contemplation of such event and (3) existing prior to
         the acquisition of such fixed assets by the Borrower or a Subsidiary
         and not created in contemplation of such acquisition, provided that the
         aggregate principal amount outstanding of Debt secured by Liens
         permitted under this paragraph (1) may not exceed, at the time any such
         Person becomes a Subsidiary, or at the time of such merger or of
         acquisition of such assets, 5% of Consolidated Operating Income as of
         the end of the most recent completed Fiscal Year; and

                           (m)      Liens on assets other than the Collateral
         not otherwise permitted by the foregoing clauses of this Section
         securing Debt (other than indebtedness represented by the Notes) in an
         aggregate principal amount outstanding at the time any such Lien is
         created not to exceed 5% of Consolidated Operating Income as of the
         end of the most recent completed Fiscal Year:

         (a)      Liens on fixed assets subject to paragraph (1):

<TABLE>
<CAPTION>
         Description of Lien and Property subject to same:              Amount of Debt Secured:

         <S>                                                            <C>
         1.                                                             $
            -------------------------------------------------             ------------------------

         2.                                                             $
            -------------------------------------------------             ------------------------

         3.                                                             $
            -------------------------------------------------             ------------------------

         4.                                                             $
            -------------------------------------------------             ------------------------

         5.                                                             $
            -------------------------------------------------             ------------------------

         Total of items 1-7                                             $
                                                                          ========================

         (b)  Consolidated Operating Income                             $
                                                                          ------------------------
         (c)  5% of (b)       $
                               -----------------
              Limitation: (a) may not exceed c)                         $
                                                                          ------------------------
         (d)  Liens on other assets subject to paragraph (m):

<CAPTION>
         Description of Lien and Property subject to same:               Amount of Debt Secured:

         <S>                                                            <C>
         1.                                                             $
            -------------------------------------------------             ------------------------

         2.                                                             $
            -------------------------------------------------             ------------------------
</TABLE>

                                      47
<PAGE>

<PAGE>
<TABLE>
         <S>                                                            <C>
         3.                                                             $
            -------------------------------------------------             ------------------------

         4.                                                             $
            -------------------------------------------------             ------------------------

         5.                                                             $
            -------------------------------------------------             ------------------------

         6.                                                             $
            -------------------------------------------------             ------------------------

         7.                                                             $
            -------------------------------------------------             ------------------------

         Total of items 1-7                                             $
                                                                          ========================

              Limitation (d) may not exceed (c)

</TABLE>

                                      48
<PAGE>
         5.       Sales of Assets (Section 5.10)

              ... (d)      the foregoing limitation on the sale, lease or other
         transfer of assets and on the discontinuation or elimination of a
         business line or segment shall not prohibit... (iii) subject to the
         mandatory prepayment provisions of Section 2.08, during any Fiscal
         Quarter, a transfer of other assets (including, but not limited to
         sale/leaseback transactions) in an arm's-length transaction for fair
         market value or the discontinuance or elimination of a business line
         or segment (in a single transaction or in a series of related
         transactions) unless the aggregate assets to be so transferred or
         utilized in a business line or segment to be so discontinued, when
         combined with all other assets transferred, and all other assets
         utilized in all other business lines or segments discontinued, during
         such Fiscal Quarter and the immediately preceding three Fiscal
         Quarters (excluding, however, transfers of assets permitted by clauses
         (d) (i) and (ii) of this Section) had a book value more than
         $5,000,000, provided in each of the foregoing such cases no Default
         shall have occurred or will occur as a consequence thereof.

         (a)  Asset sales permitted only under clause
              (iii) during current Fiscal Quarter             $
                                                               ------------

         (b)  Asset sales permitted only under clause
              (iii) during prior 3 Fiscal Quarters            $
                                                               ------------

         (c)  Sum of (a) and (b)                              $
                                                               ------------

              Limitation: (c) may not exceed $5,000,000

                                      49
<PAGE>
         6.       Investments (Section 5.20)

         Neither the Borrower nor any of its Subsidiaries shall make
         Investments in any Person except: (a) Investments in (i) direct
         obligations of the United States Government maturing within one year,
         (ii) certificates of deposit issued by a commercial bank whose credit
         is satisfactory to the Agent, (iii) commercial paper rated Al or the
         equivalent thereof by S&P or P1 or the equivalent thereof by Moody's
         and in either case maturing within 6 months after the date of
         acquisition, (iv) tender bonds the payment of the principal of and
         interest on which is fully supported by a letter of credit issued by a
         United States bank whose long-term certificates of deposit are rated
         at least AA or the equivalent thereof by S&P and Aa or the equivalent
         thereof by Moody's, (v) deposits required by government agencies or
         public utilities, (b) Investments in existence on the Effective Date,
         (c) loans, advances or other Investments to or in Guarantors; (e)
         non-cash loans consisting of the deferred purchase price for
         acquisition of Capital Stock of the Borrower by employees pursuant to
         the 2001 Stock Plan dated on or about the Effective Date; and (e)
         other Investments which, in the aggregate since the Effective Date, do
         not exceed $1,000,000; provided, however, immediately after giving
         effect to the making of any Investment, no Event of Default shall have
         occurred and be continuing.

         (a)  Investments permitted only under paragraph
              (e) during current Fiscal Quarter                $
                                                                ------------

         (b)  Investments permitted only under paragraph
              (e) during all prior Fiscal Quarters from
              Effective Date                                   $
                                                                ------------

         (c)  Sum of (a) and (b)                               $
                                                                ------------

              Limitation: (c) may not exceed $1,000,000

                                      50
<PAGE>
         7.       Capital Expenditures (Section 5.23)

         At the end of each Fiscal Year, commencing with the Fiscal Quarter
         ending December 31, 2002, Capital Expenditures for such Fiscal Year
         shall not exceed the sum of: (i) the amount set forth below for the
         Fiscal Years set forth below; plus (ii) any unused amount from the
         prior Fiscal Year.

<TABLE>
<CAPTION>
                  Fiscal Year Ending                    Capital Expenditure Limit

                  <S>                                   <C>
                  December 31, 2002                          $20,000,000
                  December 31, 2003                          $20,000,000
                  December 31, 2004                          $25,000,000
                  December 31, 2005                          $25,000,000
                  December 31, 2006                          $25,000,000
</TABLE>

         (a) Capital Expenditures Fiscal Year to Date        $
                                                              ----------------

         (b) carryover amount from
             prior Fiscal Year                               $
                                                              ----------------

         (c) Sum of (a) and (b)                              $
                                                              ----------------

             Limitation: (a) may not exceed
             (c) for current Fiscal Year

                                      51
<PAGE>
                                                                   SCHEDULE - 1

                                  Funded Debt

                            Interest
(a) Funded Debt               Rate              Maturity             Total

    Secured

                                                                $
--------------------       ---------            --------         -------------

                                                                $
--------------------       ---------            --------         -------------

                                                                $
--------------------       ---------            --------         -------------

                                                                $
--------------------       ---------            --------         -------------

                                                                $
--------------------       ---------            --------         -------------

    Total Secured                                               $
                                                                 -------------

    Unsecured

                                                                $
--------------------       ---------            --------         -------------

                                                                $
--------------------       ---------            --------         -------------

                                                                $
--------------------       ---------            --------         -------------

                                                                $
--------------------       ---------            --------         -------------

                                                                $
--------------------       ---------            --------         -------------

    Total Unsecured                                             $
                                                                 -------------

    Guarantees

                                                                $
--------------------------------------------------------         -------------

                                                                $
--------------------------------------------------------         -------------

    Total                                                       $
                                                                 -------------

    Redeemable Preferred Stock                                  $
                                                                 -------------

    Total                                                       $
                                                                 -------------

    Other Debt

                                                                $
--------------------------------------------------------         -------------

                                                                $
--------------------------------------------------------         -------------

                                                                $
--------------------------------------------------------         -------------

    Total Funded Debt                                           $
                                                                 =============

                                      52
<PAGE>
                                                                   SCHEDULE - 2

                                     EBITDA

(a)      ____ quarter ____

         Net Income                                               $
                                                                   ------------
         plus:
                  interest expense                                $
                                                                   ------------
                  income and franchise taxes                      $
                                                                   ------------
                  depreciation expense                            $
                                                                   ------------
                  amortization expense                            $
                                                                   ------------

                  other non-cash items, extraordinary
                     non-cash items, non-recurring and
                     unusual non-cash items reducing
                     Net Income                                   $
                                                                   ------------

                  cumulative effects of changes in
                     accounting principles under
                     GAAP reducing Net Income                     $
                                                                   ------------

                  upfront expenses resulting from
                     equity offerings, investments,
                     mergers, recapitalizations, any
                     Patrick Cash Payments, asset
                     dispositions, asset acquisitions,
                     and similar transactions reduce Net Income   $
                                                                   ------------
                  restructuring charges reducing Net
                     Income                                       $
                                                                   ------------

                  charges arising from grant of stock or
                     options to management                        $
                                                                   ------------

                  losses on asset dispositions                    $
                                                                   ------------

         less:

                  non-cash items, extraordinary non-cash
                     items, non-recurring and unusual
                     non-cash items increasing Net Income         $
                                                                   ------------

                  cumulative effects of changes in
                      accounting principles under GAAP
                      increasing such Net Income                  $
                                                                   ------------
                  gains on asset dispositions                     $
                                                                   ------------

                                       TOTAL FOR QUARTER          $
                                                                   ------------

                                      53
<PAGE>
(b)      ____ quarter ____

         Net Income                                               $
                                                                   ------------
         plus:
                  interest expense                                $
                                                                   ------------
                  income and franchise taxes                      $
                                                                   ------------
                  depreciation expense                            $
                                                                   ------------
                  amortization expense                            $
                                                                   ------------

                  other non-cash items, extraordinary
                     non-cash items, non-recurring and
                     unusual non-cash items reducing
                     Net Income                                   $
                                                                   ------------

                  cumulative effects of changes in
                     accounting principles under
                     GAAP reducing Net Income                     $
                                                                   ------------

                  upfront expenses resulting from
                     equity offerings, investments,
                     mergers, recapitalizations, any
                     Patrick Cash Payments, asset
                     dispositions, asset acquisitions,
                     and similar transactions reduce Net Income   $
                                                                   ------------
                  restructuring charges reducing Net
                     Income                                       $
                                                                   ------------

                  charges arising from grant of stock or
                     options to management                        $
                                                                   ------------

                  losses on asset dispositions                    $
                                                                   ------------

         less:

                  non-cash items, extraordinary non-cash
                     items, non-recurring and unusual
                     non-cash items increasing Net Income         $
                                                                   ------------

                  cumulative effects of changes in
                      accounting principles under GAAP
                      increasing such Net Income                  $
                                                                   ------------
                  gains on asset dispositions                     $
                                                                   ------------

                                       TOTAL FOR QUARTER          $
                                                                   ------------

                                      54
<PAGE>
(c)      ____ quarter ____

         Net Income                                               $
                                                                   ------------
         plus:
                  interest expense                                $
                                                                   ------------
                  income and franchise taxes                      $
                                                                   ------------
                  depreciation expense                            $
                                                                   ------------
                  amortization expense                            $
                                                                   ------------

                  other non-cash items, extraordinary
                     non-cash items, non-recurring and
                     unusual non-cash items reducing
                     Net Income                                   $
                                                                   ------------

                  cumulative effects of changes in
                     accounting principles under
                     GAAP reducing Net Income                     $
                                                                   ------------

                  upfront expenses resulting from
                     equity offerings, investments,
                     mergers, recapitalizations, any
                     Patrick Cash Payments, asset
                     dispositions, asset acquisitions,
                     and similar transactions reduce Net Income   $
                                                                   ------------
                  restructuring charges reducing Net
                     Income                                       $
                                                                   ------------

                  charges arising from grant of stock or
                     options to management                        $
                                                                   ------------

                  losses on asset dispositions                    $
                                                                   ------------

         less:

                  non-cash items, extraordinary non-cash
                     items, non-recurring and unusual
                     non-cash items increasing Net Income         $
                                                                   ------------

                  cumulative effects of changes in
                      accounting principles under GAAP
                      increasing such Net Income                  $
                                                                   ------------
                  gains on asset dispositions                     $
                                                                   ------------

                                       TOTAL FOR QUARTER          $
                                                                   ------------

                                      55
<PAGE>
(d)      ____ quarter ____

         Net Income                                               $
                                                                   ------------
         plus:
                  interest expense                                $
                                                                   ------------
                  income and franchise taxes                      $
                                                                   ------------
                  depreciation expense                            $
                                                                   ------------
                  amortization expense                            $
                                                                   ------------

                  other non-cash items, extraordinary
                     non-cash items, non-recurring and
                     unusual non-cash items reducing
                     Net Income                                   $
                                                                   ------------

                  cumulative effects of changes in
                     accounting principles under
                     GAAP reducing Net Income                     $
                                                                   ------------

                  upfront expenses resulting from
                     equity offerings, investments,
                     mergers, recapitalizations, any
                     Patrick Cash Payments, asset
                     dispositions, asset acquisitions,
                     and similar transactions reduce Net Income   $
                                                                   ------------
                  restructuring charges reducing Net
                     Income                                       $
                                                                   ------------

                  charges arising from grant of stock or
                     options to management                        $
                                                                   ------------

                  losses on asset dispositions                    $
                                                                   ------------

         less:

                  non-cash items, extraordinary non-cash
                     items, non-recurring and unusual
                     non-cash items increasing Net Income         $
                                                                   ------------

                  cumulative effects of changes in
                      accounting principles under GAAP
                      increasing such Net Income                  $
                                                                   ------------
                  gains on asset dispositions                     $
                                                                   ------------

                                       TOTAL FOR QUARTER          $
                                                                   ------------

                  Total EBITDA (sum of (a), (b), (c)
                      and (d))                               $
                                                              ------------

                                      56
<PAGE>
                                                                   SCHEDULE - 3

                        INTEREST EXPENSE ON FUNDED DEBT

(a)      ___ quarter ___                                          $
                                                                   ------------

(b)      ___ quarter ___                                          $
                                                                   ------------

(c)      ___ quarter ___                                          $
                                                                   ------------

(d)      ___ quarter ___                                          $
                                                                   ------------

         Total Interest Expense on Funded Debt
         (sum of (a), (b), (c) and (d))                    $
                                                            ------------

                                      57
<PAGE>
                                                                   SCHEDULE - 4

                                    EBITDAR

(a)      ___ quarter ___           Rental Obligations             $
                                                                   ------------

(b)      ___ quarter ___           Rental Obligations             $
                                                                   ------------

(c)      ___ quarter ___           Rental Obligations             $
                                                                   ------------

(d)      ___ quarter ___           Rental Obligations             $
                                                                   ------------

(e)      Total Rental Obligations
         (sum of (a), (b), (c)
         and (d))                                                 $
                                                                   ------------

(f)      EBITDA (from Schedule 2)                                 $
                                                                   ------------

                                      58<PAGE>
                                                                    EXHIBIT 10.2

                                                               EXECUTION VERSION

                      SECOND AMENDMENT TO CREDIT AGREEMENT

                  This SECOND AMENDMENT TO CREDIT AGREEMENT (this "Amendment")
is dated as of October 15, 2003 and entered into by and among CARMIKE CINEMAS,
INC., a Delaware corporation ("Carmike") and EASTWYNN THEATRES, INC., an Alabama
corporation ("Eastwynn"), (Eastwynn and Carmike are sometimes collectively
referred to herein as the "Borrowers" and individually as a "Borrower"); the
other Credit Parties signatory hereto; GENERAL ELECTRIC CAPITAL CORPORATION, a
Delaware corporation (in its individual capacity, "GE Capital"), for itself, as
Lender, and as Agent for Lenders (in such capacity, the "Agent"), and the other
Lenders signatory hereto from time to time.

                                    RECITALS

                  WHEREAS, Borrowers, Lenders, other Credit Parties, and Agent
are parties to that certain Credit Agreement dated as of January 31, 2002, as
amended by that certain First Amendment dated as of June 21, 2002 (as amended,
the "Credit Agreement"); and

                  WHEREAS, Borrowers have requested and Lenders and Agent have
agreed to the amendments to the Credit Agreement set forth herein subject to the
terms and conditions set forth herein; and

                  NOW, THEREFORE, in consideration of the mutual covenants and
agreements contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties agree that
all capitalized terms used herein shall have the meanings ascribed thereto in
the Credit Agreement, except as otherwise defined or limited herein, and further
agree, subject to the conditions precedent to this Amendment hereinafter set
forth, as follows:

SECTION 1.        AMENDMENTS TO THE CREDIT AGREEMENT

                           Annex G of the Credit Agreement is hereby amended and
modified by deleting therefrom clause (a) in its entirety and inserting the
following in substitution thereof:

                  "(a)     Maximum Capital Expenditures. Borrowers and their
Subsidiaries on a consolidated basis shall not make Capital Expenditures during
the following periods that exceed in the aggregate the amounts set forth
opposite each of such periods:

<TABLE>
<CAPTION>
         Period                                      Maximum Capital Expenditures per Period
         ------                                      ---------------------------------------
         <S>                                         <C>
         January 1, 2003 through December 31, 2003                     $20,000,000
         January 1, 2004 through December 31, 2004                     $25,000,000
         January 1, 2005 through December 31, 2005                     $25,000,000
         January 1, 2006 through December 31, 2006                     $25,000,000
</TABLE>

<PAGE>

                  provided, however, that the amount of permitted Capital
Expenditures referenced above will be increased in any period referenced above
by the positive amount equal to the difference obtained by subtracting the
actual amount of Capital Expenditures expended from and after January 1, 2003
through the last day of the prior period from the cumulative amount of Capital
Expenditures permitted from January 1, 2003 through the last day of the prior
period."

SECTION 2.        BORROWERS' REPRESENTATIONS AND WARRANTIES

         In order to induce Lenders to enter into this Amendment and to amend
the Credit Agreement in the manner provided herein, each the Credit Parties
executing this Amendment represents and warrants to Agent and each Lender with
respect to all Credit Parties, that the following statements are true, correct
and complete:

         A.       POWER AND AUTHORITY. Each Credit Party is a corporation,
partnership or trust, as the case may be, duly organized, validly existing and
in good standing under the laws of its state of organization. Each Credit Party
has all requisite power and authority to enter into this Amendment and to carry
out the transactions contemplated by, and perform its obligations under, the
Credit Agreement as amended by this Amendment (as so amended, the "Amended
Agreement").

         B.       AUTHORIZATION OF AGREEMENT. The execution and delivery of this
Amendment and the performance of the Amended Agreement have been duly authorized
by all necessary action on the part of each Credit Party.

         C.       NO CONFLICT. The execution and delivery by each Credit Party
of this Amendment and the performance by Borrowers of the Amended Agreement do
not and will not (i) violate any provision of any law or any governmental rule
or regulation applicable to any Credit Party, the organizational documents of
any Credit Party or any order, judgment or decree of any court or other agency
of government binding on any Credit Party, (ii) conflict with, result in a
breach of or constitute (with due notice or lapse of time or both) a default
under any agreement, document or instrument to which any Credit Party is a
party, (iii) result in or require the creation or imposition of any Lien upon
any of the properties or assets of any Credit Party (other than any Liens
created under any of the Loan Documents in favor of Agent or the Lenders), or
(iv) require any approval of stockholders or any approval or consent of any
Person under any agreement, document or instrument of which any Credit Party is
a party.

         D.       GOVERNMENTAL CONSENTS. The execution and delivery by each
Credit Party of this Amendment and the performance by Borrowers of the Amended
Agreement do not and will not require any registration with, consent or approval
of, or notice to, or other action to, with or by, any federal, state or other
governmental authority or regulatory body, except for filings required in
connection with the perfection of the security interests or the exercise of the
rights granted pursuant to the Collateral Documents.

         E.       BINDING OBLIGATION. This Amendment and the Amended Agreement
have been duly executed and delivered by each Credit Party which is a party
thereto and are the legally valid and binding obligations of each such Credit
Party, enforceable against each such Credit Party in accordance with their
respective terms, except as may be limited by bankruptcy,

<PAGE>

insolvency, reorganization, moratorium or similar laws relating to or limiting
creditors' rights generally or by equitable principles relating to
enforceability.

         F.       INCORPORATION OF REPRESENTATIONS AND WARRANTIES FROM CREDIT
AGREEMENT. The representations and warranties contained in Section 3 of the
Credit Agreement are and will be true, correct and complete in all material
respects on and as of the effective date hereof to the same extent as though
made on and as of that date, except to the extent such representations and
warranties specifically relate to an earlier date, in which case they were true,
correct and complete in all material respects on and as of such earlier date.

         G.       ABSENCE OF DEFAULT. No event has occurred and is continuing or
will result from the consummation of the transactions contemplated by this
Amendment that would constitute a Default or an Event of Default.

SECTION 3.        CONDITIONS TO EFFECTIVENESS

         Section 1 of this Amendment shall become effective upon the prior or
concurrent satisfaction of all of the following conditions precedent (the date
of satisfaction of such conditions being referred to herein as the "Second
Amendment Date"):

         A.       EFFECTIVENESS. Agent shall have received a counterpart hereof
executed by Borrowers, each Credit Party and Agent and, if applicable, a written
or telephonic notification of such execution and authorization of delivery
thereof.

         B.       AMENDMENT FEE. As additional consideration to enter into this
Amendment, a non-refundable amendment fee in the aggregate amount of $75,000.00,
which amendment fee shall be fully earned by and payable to Agent for the pro
rata benefit of Lenders, on the Second Amendment Date.

         C.       CONSENTS. Agent shall have received evidence satisfactory to
it that the Amendment does not (x) conflict with, result in a breach of or
constitute (with due notice or lapse of time or both) a default under any Loan
Documents or (y) require any approval or consent of any Person under any such
Loan Document except for such approvals or consents which shall have been
obtained on or before the Second Amendment Date.

         D.       POST-CONFIRMATION CREDIT AGREEMENT. Agent shall have received
evidence satisfactory to it that the Post-Confirmation Credit Agreement has been
amended so as to permit the Borrowers to incur Capital Expenditures consistent
with those provided in this Amendment for the Fiscal Years ending on and after
December 31, 2003.

SECTION 4.        MISCELLANEOUS

         A.       REFERENCE TO AND EFFECT ON THE CREDIT AGREEMENT AND THE OTHER
LOAN DOCUMENTS.

                  (i)      On and after the Second Amendment Date, each
         reference in the Credit Agreement to "this Agreement", "hereunder",
         "hereof", "herein" or words of like import referring to the Credit
         Agreement, and each reference in the other Loan Documents to the
<PAGE>

         "Credit Agreement", "thereunder", "thereof" or words of like import
         referring to the Credit Agreement shall mean and be a reference to the
         Amended Agreement.

                  (ii)     Except as specifically amended by this Amendment or
         as set forth herein, the terms, provisions and conditions of the Credit
         Agreement and the other Loan Documents shall remain in full force and
         effect and in all other respects are hereby ratified and confirmed.

                  (iii)    The execution, delivery and performance of this
         Amendment shall not, except as expressly provided herein, constitute a
         waiver of any provision of, or operate as a waiver of any right, power
         or remedy of Agent or Lenders under, the Credit Agreement or any of the
         other Loan Documents.

         B.       FEES AND EXPENSES. Borrowers acknowledge that all costs, fees
and expenses as described in Section 11.3 of the Credit Agreement incurred by
Agent's counsel with respect to this Amendment and the documents and
transactions contemplated hereby shall be for the account of Borrowers.

         C.       HEADINGS. Section and subsection headings in this Amendment
are included herein for convenience of reference only and shall not constitute a
part of this Amendment for any other purpose or be given any substantive effect.

         D.       APPLICABLE LAW. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK
(INCLUDING WITHOUT LIMITATION SECTION 5-1401 AND SECTION 5-1402 OF THE GENERAL
OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS
PRINCIPLES. EACH CREDIT PARTY HEREBY CONSENTS AND AGREES THAT THE STATE OR
FEDERAL COURTS LOCATED IN CITY OF ATLANTA, COUNTY OF FULTON SHALL HAVE
NON-EXCLUSIVE JURISDICTION TO HEAR AND DETERMINE ANY CLAIMS OR DISPUTES BETWEEN
THE CREDIT PARTIES, AGENT AND LENDERS PERTAINING TO THIS AMENDMENT OR ANY OF THE
OTHER LOAN DOCUMENTS OR TO ANY MATTER ARISING OUT OF OR RELATING TO THIS
AMENDMENT OR ANY OF THE OTHER LOAN DOCUMENTS; PROVIDED, THAT AGENT, LENDERS AND
THE CREDIT PARTIES ACKNOWLEDGE THAT ANY APPEALS FROM THOSE COURTS MAY HAVE TO BE
HEARD BY A COURT LOCATED OUTSIDE OF FULTON COUNTY; PROVIDED FURTHER, THAT
NOTHING IN THIS AMENDMENT SHALL BE DEEMED OR OPERATE TO PRECLUDE AGENT FROM
BRINGING SUIT OR TAKING OTHER LEGAL ACTION IN ANY OTHER JURISDICTION TO REALIZE
ON THE COLLATERAL OR ANY OTHER SECURITY FOR THE OBLIGATIONS, OR TO ENFORCE A
JUDGMENT OR OTHER COURT ORDER IN FAVOR OF AGENT. EACH CREDIT PARTY EXPRESSLY
SUBMITS AND CONSENTS IN ADVANCE TO SUCH JURISDICTION IN ANY ACTION OR SUIT
COMMENCED IN ANY SUCH COURT, AND EACH CREDIT PARTY HEREBY WAIVES ANY OBJECTION
THAT SUCH CREDIT PARTY MAY HAVE BASED UPON LACK OF PERSONAL JURISDICTION,
IMPROPER VENUE OR FORUM NON CONVENIENS AND HEREBY CONSENTS TO THE GRANTING OF
SUCH LEGAL OR

<PAGE>

EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY SUCH COURT. EACH CREDIT PARTY
HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT AND OTHER PROCESS
ISSUED IN ANY SUCH ACTION OR SUIT AND AGREES THAT SERVICE OF SUCH SUMMONS,
COMPLAINTS AND OTHER PROCESS MAY BE MADE BY REGISTERED OR CERTIFIED MAIL
ADDRESSED TO SUCH CREDIT PARTY AT THE ADDRESS SET FORTH IN ANNEX I OF THE CREDIT
AGREEMENT AND THAT SERVICE SO MADE SHALL BE DEEMED COMPLETED UPON THE EARLIER OF
SUCH CREDIT PARTY'S ACTUAL RECEIPT THEREOF OR 3 DAYS AFTER DEPOSIT IN THE UNITED
STATES MAILS, PROPER POSTAGE PREPAID.

         E.       COUNTERPARTS; EFFECTIVENESS. This Amendment may be executed in
any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the
same instrument; signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all signature pages
are physically attached to the same document.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Amendment to be duly executed and delivered by their respective officers
thereunto duly authorized as of the date first written above.

                                      CARMIKE CINEMAS, INC., a Delaware
                                      corporation, as a Borrower

                              By: /s/ MARTIN A. DURANT
                                  --------------------------------------
                                  Name: MARTIN A. DURANT
                                        --------------------------------
                                  Title: Senior Vice President - CFO
                                        --------------------------------

                                      EASTWYNN THEATRES, INC., an Alabama
                                      corporation, as a Borrower

                              By: /s/ MARTIN A. DURANT
                                  --------------------------------------
                                  Name: MARTIN A. DURANT
                                        --------------------------------
                                  Title: Senior Vice President - CFO
                                        --------------------------------

                                      GENERAL ELECTRIC CAPITAL
                                      CORPORATION, a Delaware corporation, as
                                      Agent and a Lender

                              By: /s/ RICHARD W. VARALLA
                                  --------------------------------------
                                  Name: RICHARD W. VARALLA
                                        --------------------------------
                                  Title: DULY AUTHORIZED SIGNATORY
                                        --------------------------------

                                      WELLS FARGO FOOTHILL, INC., a
                                      California corporation,  as a Lender

                              By: /s/ LISA COOLEY
                                  --------------------------------------
                                  Name: LISA COOLEY
                                        --------------------------------
                                  Title: Vice President
                                        --------------------------------

                                      S-1
<PAGE>

                                    WOODEN NICKEL PUB, INC., a Delaware
                                    corporation, as a Credit Party

                              By: /s/ MARTIN A. DURANT
                                  --------------------------------------
                                  Name: MARTIN A. DURANT
                                        --------------------------------
                                  Title: Senior Vice President
                                        --------------------------------

                                    MILITARY SERVICES, INC., a Delaware
                                    corporation, as a Credit Party

                              By: /s/ MARTIN A. DURANT
                                  --------------------------------------
                                  Name: MARTIN A. DURANT
                                        --------------------------------
                                  Title: Senior Vice President
                                        --------------------------------

                                      S-2

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