Document:

ex10-14.htm

Exhibit 10.14

 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR, IF REQUESTED BY THE CORPORATION, AN OPINION OF COUNSEL, SATISFACTORY TO THE CORPORATION AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.

 

	Warrant No. Q4-2012-__ 	
Issue Date: __________, 2012

 

Void after 5:00 p.m., Eastern Time on _____________, 2017

Dr. Tattoff, Inc.

Warrant to Purchase ________ Shares of Common Stock

 

Dr. Tattoff, Inc., a Florida corporation (the “Company”), hereby certifies that, for value received, ______________ (the “Warrant Holder”) is entitled to purchase, at any time during the period commencing on the date set forth above (the “Commencement Date”) and ending at 5:00 p.m., Eastern Time on November 12, 2017 (the “Expiration Time”), that number of fully paid and non-assessable shares (as adjusted herein, the “Warrant Shares”) of the Company’s common stock, par value $.0001 (“Common Stock”) stated on the face of this Warrant, at a purchase price equal to $0.__ per Warrant Share (the “Exercise Price”) in lawful money of the United States of America in cash or securities.

 

	
  

	
1.

	
Exercise.

 

1.1           General.  Subject to the provisions hereof, this Warrant is exercisable at any time and from time to time prior to the Expiration Time, in whole or in part, at the option of the Warrant Holder, upon (i) surrender of this Warrant to the Company at its then-principal executive offices together with a duly completed Notice of Exercise in the form attached hereto, and (ii) payment of an amount, in cash, equal to the then applicable Exercise Price multiplied by the number of Warrant Shares then being purchased upon such exercise.

 

1.2           Timing.  Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which this Warrant shall have been surrendered to the Company as provided in Section 1.1.  At such time, the person or persons in whose name or names any certificates for Warrant Shares shall be issuable upon such exercise as provided in Section 1.3 below shall be deemed to have become the holder or holders of record of the Warrant Shares represented by such certificates.

 

1.3           Stock Certificates; New Warrants.  Promptly following the exercise of the purchase right represented by this Warrant, the Company at its expense will use its reasonable best efforts to cause to be issued in the name of, and delivered to, the Warrant Holder, or, subject to the terms and conditions hereof, to such other individual or entity as such Warrant Holder (upon payment by such Warrant Holder of any applicable transfer taxes) may direct:

 

(a)           a certificate or certificates for the number of full Warrant Shares to which such Warrant Holder shall be entitled upon such exercise, and

 

(b)           in case such exercise is in part only, a new Warrant (dated the date hereof) of like tenor, stating on the face thereof the number of shares of Common Stock currently stated on the face of this Warrant minus the number of such Warrant Shares purchased by the Warrant Holder upon such exercise as provided in Section 1.1.

 

1.4           Fractional Shares.  The Company shall not be required to issue a fractional Warrant Share upon exercise of any Warrant. No fractional shares shall be issued upon the exercise of this Warrant.  If a fractional share of Common Stock would be issuable upon exercise of the rights represented by this Warrant, upon exercise the fractional share theretofore issuable shall be rounded up to the nearest whole share of Common Stock.

 

  

  

  

 

                2.   Registration.  The Company (or an agent of the Company) will maintain a register containing the name and address of the Warrant Holder.  The Warrant Holder may change its, his or her address as shown on the warrant register by written notice to the Company requesting such change.

 

 

                3.   Reservation of Shares.  As long as the Warrant shall be outstanding, the Company will at all times reserve and keep available, solely for issuance and delivery upon the exercise of this Warrant, such Warrant Shares and other stock, securities and property, as from time to time shall be issuable upon the exercise of this Warrant.

 

                4.   Transfer.  Subject to the transfer conditions referred to in the legend endorsed hereon and Section 6, this Warrant and all rights hereunder are transferable, in whole or in part, by the Holder without charge to the Holder, upon surrender of this Warrant to the Company at its then principal executive offices with a properly completed and duly executed Assignment Form attached hereto, together with funds sufficient to pay any transfer taxes in connection with the making of such transfer. Upon such compliance, surrender and delivery and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees and in the denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant, if any, not so assigned and this Warrant shall promptly be cancelled.  Notwithstanding anything to the contrary contained herein, the Warrants (or, upon the exercise thereof, the Warrant Shares) shall not be transferable to any person without the consent of the Company, provided that in all events such transfers shall be made in accordance with the terms hereof and applicable law.

 

                5.   Mutilated or Missing Warrants.  Upon receipt by the Company of reasonable evidence of the ownership of and the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company, or, in the case of mutilation, upon surrender and cancellation of the mutilated Warrant, the Company shall execute and deliver in lieu thereof a new Warrant of like tenor and date representing an equal number of Warrants.

 

                6.   Compliance with the Securities Act.

 

          6.1   Securities Act; Legend.  The Warrant Holder, by acceptance of this Warrant, agrees to comply in all respects with the provisions of this Section 6 and the restrictive legend requirements set forth on the face of this Warrant and further agrees that such Warrant Holder shall not offer, sell or otherwise dispose of this Warrant or any Warrant Shares to be issued upon exercise hereof except under circumstances that will not result in a violation of the Securities Act of 1933, as amended (the “Securities Act”). This Warrant and all Warrant Shares issued upon exercise of this Warrant (unless registered under the Securities Act) shall be stamped or imprinted with a legend in substantially the following form:

 

	
“THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR, IF REQUESTED BY THE CORPORATION, AN OPINION OF COUNSEL, SATISFACTORY TO THE CORPORATION AND ITS COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.”

	 

 

  

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6.2           Representations of Warrant Holder.  In connection with the issuance of this Warrant, the Warrant Holder specifically represents, as of the date hereof, to the Company by acceptance of this Warrant as follows:

 

(a)           The Warrant Holder is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act. The Warrant Holder is acquiring this Warrant and the Warrant Shares to be issued upon exercise hereof for investment for its own account and not with a view towards, or for resale in connection with, the public sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered or exempted under the Securities Act.

 

(b)           The Warrant Holder understands and acknowledges that this Warrant and the Warrant Shares to be issued upon exercise hereof are “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that, under such laws and applicable regulations, such securities may be resold without registration under the Securities Act only in certain limited circumstances.

 

(c)           The Warrant Holder acknowledges that it can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in the Warrant and the Warrant Shares. The Warrant Holder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of the offering of the Warrant and the business, properties, prospects and financial condition of the Company.

 

                7.   Adjustment.  The Exercise Price and the number of Warrant Shares purchasable pursuant to each Warrant shall be subject to adjustment from time to time as hereinafter set forth in this Section 7:

 

7.1           Stock Dividends, Splits and Combinations.  In case, prior to the expiration of this Warrant by exercise or by its terms, the Company shall issue any additional shares of Common Stock as a dividend or subdivide the number of outstanding shares of Common Stock into a greater number of shares of Common Stock, then in either of such cases, the then applicable Exercise Price per Warrant Share purchasable pursuant to this Warrant in effect at the time of such action shall be proportionately reduced and the number of Warrant Shares at that time purchasable pursuant to this Warrant shall be proportionately increased; and conversely, in the event the Company shall reduce the number of outstanding shares of Common Stock by combining such shares of Common Stock into a smaller number of shares of Common Stock then, in such case, the then applicable Exercise Price per Warrant Share purchasable pursuant to this Warrant in effect at the time of such action shall be proportionately increased and the number of Warrant Shares at that time purchasable pursuant to this Warrant shall be proportionately decreased.  If the Company shall, prior to the expiration of this Warrant by exercise or by its terms, declare a dividend payable in cash on its shares of Common Stock and shall at substantially the same time offer to its shareholders a right to purchase new shares of Common Stock from the proceeds of such dividend or for an amount substantially equal to the dividend, all shares of Common Stock so issued shall, for the purpose of this Warrant, be deemed to have been issued as a dividend.  Any dividend paid or distributed upon the Common Stock in shares of any other class of securities convertible into shares of Common Stock shall be treated as a dividend paid in shares of Common Stock to the extent that shares of Common Stock are issuable upon conversion thereof.

 

  

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7.2           Recapitalization, Consolidation, Merger, or Conveyance.  In case, prior to the expiration of this Warrant by exercise or by its terms, the Company shall be recapitalized by reclassifying its outstanding shares of Common Stock, or the Company or a successor corporation shall consolidate or merge with or convey all or substantially all of its or of any successor corporation’s property and assets to any other corporation or corporations (any such other corporations being included within the meaning of the term “successor corporation” hereinbefore used in the event of any consolidation or merger of any such other corporation with, or the sale of all or substantially all of the property of any such other corporation to, another corporation or corporations), then, as a condition of such recapitalization, consolidation, merger or conveyance, lawful and adequate provision shall be made whereby the holder of this Warrant shall thereafter have the right to purchase, upon the basis and on the terms and conditions specified in this Warrant, in lieu of the Warrant Shares theretofore purchasable upon the exercise of this Warrant, such shares of stock, securities or assets, as may be issued or payable with respect to, or in exchange for, the number of Warrant Shares theretofore purchasable upon the exercise of this Warrant had such recapitalization, consolidation, merger or conveyance not taken place, and the exercise price for which shall have been appropriately adjusted to reflect the number of securities which the Warrant Holder is entitled to purchase in exchange for such Warrant; and in any such event, the rights of the Warrant Holder to any adjustment in the number of Warrant Shares purchasable upon the exercise of this Warrant, as herein provided, shall continue and be preserved in respect of any stock which the Warrant Holder becomes entitled to purchase.

 

7.3           Dissolution, Liquidation or Winding Up.  In case the Company at any time while this Warrant shall remain unexpired and unexercised shall dissolve, liquidate or wind up its affairs, lawful provision shall be made as part of the terms of any such dissolution, liquidation or winding up, so that the holder of this Warrant may thereafter receive upon exercise hereof in lieu of each Warrant Share that it would have been entitled to receive, the same kind and amount of any securities or assets as may be issuable, distributable or payable upon any such dissolution, liquidation or winding up with respect to each Share of the Company; provided, however, that in any case of any such sale or of dissolution, liquidation or winding up, the right to exercise this Warrant shall terminate on a date fixed by the Company; such date so fixed to be not earlier than 5:00 p.m., Eastern Time, on the thirtieth day next succeeding the date on which notice of such termination of the right to exercise this Warrant has been given by mail to the registered holder of this Warrant at its address as it appears on the books of the Company.

 

                 8.   Rights of the Holder.  The Warrant Holder shall not, by virtue hereof, be entitled to any rights of a shareholder in the Company, either at law or equity, and the rights of the Warrant Holder are limited to those expressed in this Warrant and are not enforceable against the Company except to the extent set forth herein. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the Exercise Time and then only with respect to the Warrant Shares to be issued with respect thereto.

 

                 9.   Notices to Warrant Holder.Upon the happening of any event requiring an adjustment of the Exercise Price, the Company shall promptly give written notice thereof to the Warrant Holder at the address appearing in the records of the Company, stating the adjusted Exercise Price and the adjusted number of Warrant Shares resulting from such event and setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based.  Failure to give such notice to the Warrant Holder or any defect therein shall not affect the legality or validity of the subject adjustment.

 

                10.   Successors.  The rights and obligations of the parties to this Warrant will inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors, assigns, pledgees, transferees and purchasers.

 

                 11.   Change or Waiver.  Any term of this Warrant may be changed or waived only by an instrument in writing signed by the party against whom enforcement of the change or waiver is sought.

 

                 12.   Headings.  The headings in this Warrant are for purposes of reference only and shall not amend, modify, restrict, limit or otherwise affect the meaning of any provision of this Warrant.

         

                 13.   Governing Law.  This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to any law or principles that would make this choice of law provision invalid.

 

  

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                 14.   Payment of Taxes.  The Company shall not be required to pay any tax or taxes which may be payable in respect of any transfer involved in the issuance or delivery of any certificates for Warrant Shares in a name other than that of the Warrant Holder in respect of which such shares are issued, and in such case, the Company shall not be required to issue or deliver any certificate for Warrant Shares until the person requesting the same has paid to the Company the amount of such tax or has established to the Company’s reasonable satisfaction that such tax has been paid.  The Warrant Holder shall be responsible for income taxes due under federal, state or other law, if any such tax is due.

 

                 15.   Mailing of Notices, Etc.  Unless otherwise provided, any notice required or permitted under this Warrant shall be given in writing and shall be deemed effectively given as hereinafter described (i) if given by personal delivery, then such notice shall be deemed given upon such delivery, (ii) if given by facsimile, then such notice shall be deemed given upon receipt of confirmation of complete transmittal, (iii) if given by mail, then such notice shall be deemed given upon the earlier of (A) receipt of such notice by the recipient or (B) three days after such notice is deposited in first class mail, postage prepaid, and (iv) if given by an internationally recognized overnight air courier, then such notice shall be deemed given one business day after delivery to such carrier.  All notices shall be addressed as follows: if to the Warrant Holder, at its address as set forth in the Company’s books and records and, if to the Company, at the address as follows, or at such other address as the Warrant Holder or the Company may designate by ten (10) days’ advance written notice to the other:

 

	 	The Company:  	Dr. Tattoff, Inc.	 
	 	 	500 Wilshire Blvd, Suite 105 

Beverly Hills, CA 90211

Attention: Chief Executive Officer

Fax: 310-659-4141

	 

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized officer as of the date first written above.

 

	 	
Dr. Tattoff, Inc.

	 
	 	 	 	 
	
 

	
By: 

	 	 
	 	 	
Name:  John Keefe

Title:  Chief Executive Officer

	 

 

  

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Notice of Exercise

To Be Executed by the Warrant Holder

In Order to Exercise Warrants

TO:   Dr. Tattoff, Inc.

The undersigned hereby: (1) irrevocably subscribes for and offers to purchase _______ shares of Common Stock (“Shares”) of Dr. Tattoff, Inc., pursuant to Warrant No. ___ heretofore issued to ___________________ on ___________, 20__ and (2) encloses a cash payment of $__________ representing the aggregate exercise price for such Shares.

Date:                                                                                                                                                                                                 

Warrant Holder Name:                                                                                                                                                                       

 

Taxpayer Identification Number:                                                                                                                                                 

By:                                                                                                                                                                                                     

 

Printed Name:                                                                                                                                                                                  

 

Title:                                                                                                                                                                                                  

 

Address:                                                                                                                                                                                           

 

Note: The above signature should correspond exactly with the name on the face of the Warrant or with the name of assignee appearing in assignment form below.

  

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ASSIGNMENT FORM

To be executed by the Warrant Holder

In order to Assign Warrants

Warrant No.___________

FOR VALUE RECEIVED,____________________________________ hereby sell, assigns and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER

	  

 

 

 

(Please print or type name and address)

 

______________________ of the Warrants represented by the Warrant, and hereby irrevocably constitutes and appoints ________________________ to transfer this Warrant on the books of the Company, with full power of substitution in the premises.

 

 

	Dated: 	 	 	 
	 	
(Signature of Registered Holder)

 

                                                         

 

In addition to executing this Assignment Form, the Warrant Holder and the transferee must comply with the other requirements for transfer set forth in Sections 4 and 6 of the Warrant.

 

CERTIFICATION OF STATUS OF TRANSFEREE

TO BE EXECUTED BY THE TRANSFEREE OF THE WARRANT

 

The undersigned transferee hereby certifies to the registered holder of the Warrant and to Dr. Tattoff, Inc. that the transferee is an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended.

 

 

	Dated: 	 	 	 
	 	
(Signature of Registered Holder)

 

 

- 7 -EX-10.15

 Exhibit 10.15 
 FORM OF 
 RESTRICTED STOCK GRANT AND ACKNOWLEDGMENT

 (Replacement Award — 
 for Class D Units and Employee Units) 
 THIS RESTRICTED STOCK GRANT AND
ACKNOWLEDGEMENT (the “Grant”), is made effective as of the date set forth on the Signature Page attached hereto (the “Date of Grant”), between SeaWorld Entertainment, Inc., a Delaware corporation (the
“Company”), SW Cayman L.P., SW Cayman A L.P., SW Cayman B L.P., SW Cayman C L.P., SW Cayman E L.P., SW Cayman F L.P., SW Cayman Co-Invest L.P., SW Cayman (GS) L.P. and SW Cayman (GSO) L.P., each a limited partnership organized under
the laws of the Cayman Islands, and SW Delaware D L.P., a Delaware limited partnership (each of the foregoing, an “SW Partnership”, and collectively, the “SW Partnerships”) and the participant identified on the
Signature Page attached hereto (the “Participant”). 
 R E C I T A L S: 

WHEREAS, the Participant holds a number of Class D units (the “Class D Units”) and/or employee units (the
“Employee Units” and, together with the Class D Units, the “Units”) of the SW Partnerships specified on the signature page hereto, which Units were issued pursuant to the applicable limited partnership agreements of
the SW Partnerships and one or more Management Unit Subscription Agreements (collectively, the “Subscription Agreement”); and 
 WHEREAS, all of the Participant’s Units are being cancelled and the Participant is to receive shares (“Shares”) of common stock, par value $0.01, of the Company (“Common
Stock”) (the “Transfer”), effective prior to or substantially concurrent with the consummation of the initial public offering of the Common Stock (the “Transfer Date”); 

WHEREAS, the Company has adopted the SeaWorld Entertainment, Inc. 2013 Omnibus Incentive Plan (the “Plan”), the terms of
which Plan are incorporated herein by reference and made a part of this Grant, and capitalized terms not otherwise defined herein shall have the same meanings as in the Plan; and 

WHEREAS, as of the Transfer Date, the Units will be cancelled and will cease to be issued and outstanding and the Participant
shall receive Shares with an equivalent value based on the IPO Price (as defined below), as described herein and otherwise subject to the terms hereof and the Plan; 
 NOW THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties agree as follows: 
 1. The Shares. 
 (a) Subject to the terms and conditions of the Plan and the
additional terms and conditions set forth in this Grant and effective as of the Transfer Date, the Company and the SW Partnerships will cause the Units to be cancelled and the Participant to receive the number of vested Shares
(“Vested Shares”) and unvested Shares (the “Unvested Restricted Shares”) to be 

 
specified by the Compensation Committee of the Board of Directors of the Company (the “Committee”) on the Signature Page hereto (the Vested Shares and Unvested Restricted Shares
collectively, the “Restricted Shares”). 
 (b) The number of Restricted Shares shall be calculated by the
Committee in its sole discretion, such that (x) the intrinsic value of all such Units (calculated based on the price at which Common Stock is sold in the Company’s initial public offering (the “IPO”, such price, the
“IPO Price”), the number of such Shares held by the SW Partnerships prior to the Transfer and the relative rights and priorities applicable to the Units under the SW Partnerships’ organizational documents
immediately prior to the Transfer) is equal to (y) the intrinsic value of all such Shares using the IPO Price, in each case as calculated by the Committee. Any fractional Vested Shares or Unvested Restricted Shares will be settled in
cash. 
 (c) The Vested Shares shall not be subject to any forfeiture restrictions. The Unvested Restricted Shares shall
vest and become nonforfeitable Vested Shares in accordance with Schedule A attached hereto.
 (d) If Participant’s
employment with the Company and its subsidiaries is terminated at any time, all Unvested Restricted Shares shall automatically and immediately be forfeited and canceled. 
 (e) Within 10 days after the Transfer Date, the Participant shall provide the Company with a copy of a completed election under Section 83(b) of the Internal Revenue Code of 1986, as amended,
and the regulations promulgated thereunder in the form of Exhibit A attached hereto. The Participant shall timely (within 30 days) file (via certified mail, return receipt requested) such election with the Internal Revenue Service, and thereafter
shall certify to the Company that the Participant has made such timely filing and furnish a copy of such filing to the Company. The Participant should consult his or her tax advisor regarding the consequences of a Section 83(b) election, as
well as the receipt, vesting, holding and sale of the Restricted Shares. 
 (f) Participant acknowledges that the Shares have
not been registered under the Securities Act of 1933, as amended (the “Securities Act”), and accordingly, may not be sold or transferred except pursuant to an effective registration statement under the Securities Act or pursuant to
an applicable exemption therefrom. 
 2. Prior Agreements; Restrictive Covenants. 

(a) Restrictive Covenants. Participant acknowledges and recognizes the highly competitive nature of the businesses of the Company
and its Affiliates and accordingly agrees, in his capacity as an equity holder in the Company, to the provisions of Appendix A to this Grant (the “Restrictive Covenants”). Participant acknowledges and agrees that the Company’s
remedies at law for a breach or threatened breach of any of the provisions of Section 1 of Appendix A (or a material breach or material threatened breach of any of the provisions of Section 2 of Appendix A of this Grant) would be
inadequate and the Company would suffer irreparable damages as a result of such breach or threatened breach. In recognition of this fact, Participant agrees that, in the event of such a breach or threatened breach, in addition to any remedies at
law, the Partnerships and the Company, without posting any bond, shall be entitled to cease making any payments or providing 

  
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any benefit otherwise required by this Grant and obtain equitable relief in the form of specific performance, temporary restraining order, temporary or permanent injunction or any other equitable
remedy which may then be available. Notwithstanding the foregoing and Appendix A, the provisions of Section 1(a)(i), (ii), (iii) and (iv)(B) of Appendix A shall not apply to the Participant if Participant’s principal place of
employment is located in the State of California. The Shares issued hereunder shall be subject to Participant’s continued compliance with such restrictions. For purposes of this Grant, “Restrictive Covenant Violation” means
Participant’s breach of any of the Restrictive Covenants or any similar provision applicable to Participant. 
 (b)
Repayment of Proceeds. In the event of a Restrictive Covenant Violation, Participant shall be required, in addition to any other remedy available (on a non-exclusive basis), to pay to the Company, within 10 business days’ of the
Company’s request to Participant therefor, an amount equal to the excess, if any, of (i) the aggregate after-tax proceeds (taking into account all amounts of tax that would be recoverable upon a claim of loss for payment of such proceeds
in the year of repayment) Participant received upon the sale or other disposition of, or distributions in respect of, (A) prior to the Transfer Date, the Units, and (B) the Shares issued hereunder over (ii) the aggregate Cost of such
Shares. For purposes of this Grant, “Cost” means, in respect of any Share, the amount paid by Participant for the Units that were exchanged for such Share, as proportionately adjusted for all subsequent distributions on the Shares
and other recapitalizations and less the amount of any distributions made with respect to (x) prior to the Transfer Date, the Unit or (y) the Share pursuant to the Company’s organizational documents; provided that Cost may not be less
than zero. 
 3. Book Entry; Certificates. The Company shall recognize the Participant’s ownership through uncertificated book
entry. If elected by the Company, certificates evidencing the Shares may be issued by the Company and any such certificates shall be registered in the Participant’s name on the stock transfer books of the Company promptly after the date hereof,
but shall remain in the physical custody of the Company or its designee at all times prior to the later of (x) the vesting of Unvested Restricted Shares pursuant to this Grant and (y) the expiration of the transfer restrictions set forth
in this Grant. As soon as practicable following such time, any certificates for the Shares shall be delivered to the Participant or to the Participant’s legal guardian or representative along with the stock powers relating thereto. No
certificates shall be issued for fractional Shares. To the extent required by the Company, the Participant shall deliver to the Company a stock power, duly endorsed in blank, relating to the Shares that have not previously vested. 

4. Rights as a Stockholder. The Participant shall be the record owner of the Shares until or unless such Shares are forfeited pursuant to the
terms of this Grant, and as record owner shall be entitled to all rights of a common stockholder of the Company, including, without limitation, voting rights with respect to the Restricted Shares; provided that (i) any cash or in-kind
dividends paid with respect to the Unvested Shares shall be accumulated by the Company and shall be paid to the Participant only when, and if, such Unvested Shares shall become vested pursuant to the terms of this Grant, and (ii) the Shares
shall be subject to the limitations on transfer and encumbrance set forth in Section 7. 
 5. Legend. To the extent applicable, all
book entries (or certificates, if any) representing the Shares delivered to the Participant as contemplated by Section 3 above shall be subject to the rules, 

  
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regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which such Shares are listed, and any applicable Federal or state laws, and the Company may
cause notations to be made next to the book entries (or a legend or legends put on certificates, if any) to make appropriate reference to such restrictions. Any such book entries notations (or legends on certificates, if any) shall include a
description to the effect of the restrictions set forth in Sections 1 and 7 hereof. 
 6. No Right to Continued Employment. The issuance
of Shares evidenced by this Grant shall impose no obligation on the Company or any Affiliate to continue the employment of the Participant and shall not lessen or affect the Company’s or its Affiliate’s right to terminate the employment of
such Participant. 
 7. Assignment Restrictions; Lock-up. 
 (a) The Unvested Restricted Shares may not, at any time prior to becoming vested pursuant to the terms of this Grant, be Assigned and any such purported Assignment shall be void and unenforceable against
the Company or any Affiliate; provided that the designation of a beneficiary shall not constitute an Assignment. In addition, until the earliest of (i) the occurrence of a Change of Control, (ii) the date that is one year from the
effective date of the IPO with respect to Shares issued in connection with the cancellation of Employee Units and (iii) the date that is six (6) months from the effective date of the IPO with respect to Shares issued in connection with the
cancellation of Class D Units, no holder of Shares may Assign any such Shares which are Vested Shares, except in an Exempt Employee Assignment. Participant also agrees that if requested in connection with an underwritten offering of Shares by the
Company, including the IPO expected to occur immediately following the Transfer, Participant will not effect any Assignment of any Shares (except as part of such underwritten offering) during the period up to 180 days after the closing date of each
such underwritten offering (or for such other period as to which the managing underwriter or underwriters may agree, provided that such shorter period applies equally to all holders of Shares). Participant further agrees that, if requested by the
Company or the underwriters, Participant will execute and deliver a customary lock-up letter to that effect. 
 (b) “Assign
or Assignment” shall mean (in either the noun or the verb form, including with respect to the verb form, all conjugations thereof within their correlative meanings) with respect to any security, the gift, sale, assignment, transfer,
pledge, hypothecation or other disposition (whether for or without consideration, whether directly or indirectly, and whether voluntary, involuntary or by operation of law) of such security or any interest therein. 

(c) “Exempt Employee Assignment” shall mean a Assignment of Vested Shares (i) in connection with a Change of
Control transaction, (ii) upon the death of the holder pursuant to the applicable laws of descent and distribution, (iii) if expressly permitted by Section 7(a) herein, (iv) solely to or among the Participant’s Family Group
(as defined below) or (v) to the Company or any of its Affiliates. “Family Group” means with respect to any individual, such individual’s spouse and descendants (whether natural or adopted) and any trust, partnership,
limited liability company or similar vehicle established and maintained solely for the benefit of (or the sole members or partners of which are) such individual, such individual’s spouse and/or such individual’s descendants. 

  
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 8. Withholding. The Participant may be required to pay to the Company or any Affiliate and the
Company shall have the right and is hereby authorized to withhold, any applicable withholding taxes in respect of the Shares, their grant or vesting or any payment or transfer with respect to the Shares at the minimum applicable statutory rates, and
to take such action as may be necessary in the opinion of the Committee to satisfy all obligations for the payment of such withholding taxes. 

9. Securities Laws; Cooperation. Upon the vesting of any Unvested Restricted Shares, the Participant will make or enter into such written
representations, warranties and agreements as the Committee may reasonably request in order to comply with applicable securities laws, the Plan or with this Grant. Participant further agrees to cooperate with the Company in taking any action
reasonably necessary or advisable to consummate the transactions contemplated by this Grant. 
 10. Notices. Any notice necessary under
this Grant shall be addressed to the Company in care of its Secretary at the principal executive office of the Company and to the Participant at the address appearing in the personnel records of the Company for such Participant or to either party at
such other address as either party hereto may hereafter designate in writing to the other. Any such notice shall be deemed effective upon receipt thereof by the addressee. 

11. Choice of Law; Jurisdiction; Venue. This Grant shall be governed by and construed in accordance with the laws of the
state of Delaware without regard to conflicts of laws (except that the provisions of Section 1 of Appendix A shall be governed by the law of the state where Grantee is principally employed by the Company or its subsidiaries or, if the Grantee
and the Company or its subsidiaries are party to an employment agreement, the law of the state that governs such a employment agreement). Any suit, action or proceeding with respect to this Grant (or any provision incorporated by reference), or any
judgment entered by any court in respect of any thereof, shall be brought in any court of competent jurisdiction in the State of New York or the State of Delaware, and each of the Participant, the Company, and any transferees who hold Shares
pursuant to an Exempt Employee Assignment, hereby submits to the exclusive jurisdiction of such courts for the purpose of any such suit, action, proceeding, or judgment. Each of the Participant, the Company, and any transferees who hold Shares
pursuant to an Exempt Employee Assignment hereby irrevocably waives (a) any objections which it may now or hereafter have to the laying of the venue of any suit, action, or proceeding arising out of or relating to this Grant (or any provision
incorporated by reference) brought in any court of competent jurisdiction in the State of Delaware, (b) any claim that any such suit, action, or proceeding brought in any such court has been brought in any inconvenient forum and (c) any
right to a jury trial. 
 12. Shares Subject to Plan; Amendment. By entering into this Grant, the Participant agrees and acknowledges
that the Participant has received and read a copy of the Plan. The Shares granted hereunder are subject to the Plan. The terms and provisions of the Plan, as it may be amended from time to time, are hereby incorporated herein by reference. In the
event of a conflict between any term or provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and prevail. The Committee may waive any conditions or rights under, amend any terms
of, or alter, suspend, discontinue, cancel or terminate this Agreement, but no such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination shall materially adversely affect the rights of the participant hereunder
without the consent of the Participant. Notwithstanding anything in this Agreement or the Plan to the contrary, the Company may amend and update the number of Shares in the Equity Schedule set forth on the Signature Page hereto prior to or
following the effective date of the IPO based on the IPO Price. 

  
 5 

 13. Other Awards. Subject to Section 2, this Grant, together with any other equity grants
received in connection with the Transfer and the IPO, are in replacement of, and supersede in all respects, the Units. 
 14. SW
Partnerships. Participant agrees and acknowledges that, upon consummation of the Transfer, the Participant will (i) hold no Units, (ii) no longer be a Limited Partner of any SW Partnership and (iii) have no surviving rights under
the governing documents of any SW Partnership. 
 [Signatures on next page.] 

  
 6 

 IN WITNESS WHEREOF, the Participant acknowledges and accepts the terms of this Grant which
shall be effective as of the date set forth below and countersignature by the Company. 
  

	
	Participant
	
	  
	 Name:
                            

	
	 Dated:
                            

 Grant acknowledged and confirmed: 

 

							
		 	SW CAYMAN L.P.	  	SEAWORLD ENTERTAINMENT, INC.	  	
		 	SW CAYMAN A L.P.	  		  	
		 	SW CAYMAN B L.P.	  		  	
		 	SW CAYMAN C L.P.	  		  	
		 	SW DELAWARE D L.P.	  	  
	  	
		 	SW CAYMAN E L.P.	  	Name:	  	
		 	SW CAYMAN F L.P.	  	Title:	  	
		 	SW CAYMAN CO-INVEST L.P.	  		  	
		 	SW CAYMAN (GSO) L.P.	  		  	
		 	SW CAYMAN (GS) L.P.	  		  	
				
		 	Each By: SW Cayman Limited, its general partner	  		  	

  

					
		 	By:	 	  

		 		 	Name: Bruce McEvoy
		 		 	Title: Director

 Equity Schedule 
  

									
	 Class D Units and Employee
Units
	  	Shares1
	 Class of Units
	  	Number of
Vested
Units	  	Number of
Unvested
Units	  	Number of
Vested
Shares	  	Number of
Unvested
Restricted
Shares
					
	 Class D Units
	  		  		  		  	
					
	 “Time-Vesting” Employee Units
	  		  		  		  	
					
	 “2.25X Performance—Vesting” Employee Units
	  		  		  		  	
					
	 “2.75X Performance—Vesting” Employee Units
	  		  		  		  	

  

	1 	The Committee shall specify the number of Shares promptly following the pricing of the IPO. 

  
 2 

 Schedule A 
 Vesting Terms 
 Time-Vesting Restricted Shares 

The Unvested Restricted Shares (the “Time-Vesting Restricted Shares”) received in exchange for Employee Units subject to the vesting
conditions set forth on Schedule A-1 of the Subscription Agreement (and identified on the Signature Page in the row entitled “Time-Vesting Employee Units”) shall become Vested Shares as follows: 

 

	 	•	 	 [        ]% of the Time-Vesting Restricted Shares shall become Vested Shares on [date], 2013 if
Participant’s employment with the Company and its Subsidiaries continues through such date; 

  

	 	•	 	 an additional [        ]% of the Time-Vesting Restricted Shares shall become Vested Shares on [date],
[2014] if Participant’s employment with the Company and its Subsidiaries continues through such date; and 

  

	 	•	 	 an additional [        ]% of the Time-Vesting Restricted Shares shall become Vested Shares on [date],
[2015] if Participant’s employment with the Company and its Subsidiaries continues through such date;. 

 Notwithstanding
the foregoing, all Time-Vesting Restricted Shares shall become Vested Shares immediately prior to the occurrence of a Change of Control that occurs prior to the termination of the Participant’s employment with the Company and its Subsidiaries.

 2.25x Performance Restricted Shares 
 The Unvested Restricted Shares (the “2.25x Performance Restricted Shares”) received in exchange for Employee Units subject to the vesting conditions set forth on Schedule A-2 of the
Subscription Agreement (and identified on the Signature Page in the row entitled “2.25X Performance-Vesting Employee Units”) shall become Vested Shares at such time, prior to the termination of Participant’s employment with the
Company and its subsidiaries for any reason (such date, a “Termination Date”), that Blackstone Management Associates (Cayman) V L.P. and Blackstone LR Associates (Cayman) V Ltd (collectively, the “Sponsor”) shall
have received, in respect of any Class A Units of the SW Partnerships (the “Class A Units”) held from time to time by the Sponsor, cash resulting in both (x) a 20% annual Internal Rate of Return and (y) a 2.25x
Multiple on Invested Capital. 
 “Internal Rate of Return” means the annualized effective compounded return rate (taking into
account all allocations of profits and gains, net of all allocations of losses, deductions and nondeductible expenses) which is earned on the aggregate amount invested by the Sponsor for its Class A Units. “Multiple on Invested
Capital” means the total multiple (taking into account all allocations of profits and gains, net of all allocations of losses, deductions and nondeductible expenses) which is earned on the aggregate amount invested by the Sponsor for its
Class A Units. 

 2.75x Performance Restricted Shares 
 The Unvested Restricted Shares (the “2.75x Performance Restricted Shares”) received in exchange for Employee Units subject to the vesting conditions set forth on Schedule A-3 of the
Subscription Agreement (and identified on the Signature Page in the row entitled “2.25X Performance-Vesting Employee Units”) shall become Vested Shares at such time, prior to a Termination Date, that the Sponsor shall have received, in
respect of any Class A Units held from time to time by the Sponsor, cash resulting in both (x) a 15% annual Internal Rate of Return and (y) a 2.75x Multiple on Invested Capital. 

  
 2 

 Appendix A 

Restrictive Covenants 
 1. Non-Competition; Non-Solicitation. 
 (a) Participant acknowledges and
recognizes the highly competitive nature of the businesses of the Company and its Affiliates and accordingly agrees as follows: 
 (i) During Participant’s employment with the Company or its Affiliates (the “Employment Term”) and for a period of one year following the date Participant ceases to be employed by
the Company or its Subsidiaries (the “Restricted Period”), Participant will not, whether on Participant’s own behalf or on behalf of or in conjunction with any person, firm, partnership, joint venture, association, corporation
or other business organization, entity or enterprise whatsoever (“Person”), directly or indirectly solicit or assist in soliciting in competition with the Restricted Group in the Business, the business of any then current or
prospective client or customer with whom Participant (or his direct reports) had personal contact or dealings on behalf of the Company during the one-year period preceding Participant’s termination of employment. 

(ii) During the Restricted Period, Participant will not directly or indirectly: 

(A) engage in the Business in any geographical area that is within 100 miles of any geographical area where the Restricted
Group engages in the Business, including the greater metropolitan areas of Orlando, Florida, San Diego, California, San Antonio, Texas, Williamsburg, Virginia and Philadelphia/Langhorne, Pennsylvania; 

(B) enter the employ of, or render any services to, a Core Competitor, except where such employment or services do not
relate in any manner to the Business; 
 (C) acquire a financial interest in, or otherwise become actively
involved with, any Person engaged in the Business, directly or indirectly, as an individual, partner, shareholder, officer, director, principal, agent, trustee or consultant; or 

(D) intentionally and adversely interfere with, or attempt to adversely interfere with, business relationships between the
members of the Restricted Group and any of their clients, customers, suppliers, partners, members or investors. 

(iii) Notwithstanding anything to the contrary in this Appendix A, Participant may, directly or indirectly own, solely as
an investment, securities of any Person engaged in a Business (including, without limitation, a Core Competitor) which are publicly traded on a national or regional stock exchange or on the over-the-counter market if Participant (i) is not a
controlling person of, or a member of a group which controls, such person and (ii) does not, directly or indirectly, own 2% or more of any class of securities of such Person. 

 (iv) During the Employment Term and for a period of two years from the date
Participant ceases to be an employed by the Company or its Subsidiaries, Participant will not, whether on Participant’s own behalf or on behalf of or in conjunction with any Person, directly or indirectly: 

(A) solicit or encourage any employee of the Restricted Group to leave the employment of the Restricted Group; 

(B) hire any executive-level employee who was employed by the Restricted Group as of the date of Participant’s
termination of employment with the Company or who left the employment of the Restricted Group coincident with, or within one year prior to or after, the termination of Participant’s employment with the Company; or 

(C) encourage any material consultant of the Restricted Group to cease working with the Restricted Group. 

(v) For purposes of this Agreement: 

(A) “Restricted Group” shall mean, collectively, the Company and its subsidiaries and, to the extent
engaged in the Business, their respective Affiliates (including The Blackstone Group L.P. and its Affiliates). 

(B) “Business” shall mean the entertainment and theme park business. 

(C) “Core Competitor” shall mean Walt Disney Parks and Resorts, Universal Studios and Six Flags, Inc.,
Cedar Fair Entertainment Company and Merlin Entertainments Group Ltd. and each of their respective Affiliates. 
 (b) It is
expressly understood and agreed that although Participant and the Company consider the restrictions contained in this Section 1 to be reasonable, if a final judicial determination is made by a court of competent jurisdiction that the time or
territory or any other restriction contained in this Appendix A is an unenforceable restriction against Participant, the provisions of this Appendix A shall not be rendered void but shall be deemed amended to apply as to such maximum time and
territory and to such maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent jurisdiction finds that any restriction contained in this Appendix A is unenforceable, and such
restriction cannot be amended so as to make it enforceable, such finding shall not affect the enforceability of any of the other restrictions contained herein. 
 (c) The period of time during which the provisions of this Section 1 shall be in effect shall be extended by the length of time during which Participant is in breach of the terms hereof as determined
by any court of competent jurisdiction on the Company’s application for injunctive relief. 
 (d) The provisions of
Section 1 hereof shall survive the termination of Participant’s employment for any reason, including but not limited to, any termination other than for Cause (except as otherwise set forth in Section 1 hereof). 

  
 2 

 (e) The provisions of Section 1 hereof shall not apply if Participant’s principal
place of employment is in the state of California. 
 2. Confidentiality; Intellectual Property. 

(a) Confidentiality. 
 (i) Participant will not at any time (whether during or after Participant’s employment with the Company) (x) retain or use for the benefit, purposes or account of Participant or any other
Person; or (y) disclose, divulge, reveal, communicate, share, transfer or provide access to any Person outside the Company (other than its professional advisers who are bound by confidentiality obligations or otherwise in performance of
Participant’s duties under Participant’s employment and pursuant to customary industry practice), any non-public, proprietary or confidential information—including without limitation trade secrets, know-how, research and development,
software, databases, inventions, processes, formulae, technology, designs and other intellectual property, information concerning finances, investments, profits, pricing, costs, products, services, vendors, customers, clients, partners, investors,
personnel, compensation, recruiting, training, advertising, sales, marketing, promotions, government and regulatory activities and approvals—concerning the past, current or future business, activities and operations of the Company, its
subsidiaries or Affiliates and/or any third party that has disclosed or provided any of same to the Company on a confidential basis (“Confidential Information”) without the prior written authorization of the Board. 

(ii) “Confidential Information” shall not include any information that is (a) generally known to the
industry or the public other than as a result of Participant’s breach of this covenant; (b) made legitimately available to Participant by a third party without breach of any confidentiality obligation of which Participant has knowledge; or
(c) required by law to be disclosed; provided that with respect to subsection (c) Participant shall give prompt written notice to the Company of such requirement, disclose no more information than is so required, and reasonably
cooperate with any attempts by the Company to obtain a protective order or similar treatment. 
 (iii) Except as
required by law, Participant will not disclose to anyone, other than Participant’s family (it being understood that, in this Agreement, the term “family” refers to Participant, Participant’s spouse, children, parents and
spouse’s parents) and advisors, the existence or contents of this Agreement; provided that Participant may disclose to any prospective future employer the provisions of this Appendix A. This Section 2(a)(iii) shall terminate if the
Company publicly discloses a copy of this Agreement (or, if the Company publicly discloses summaries or excerpts of this Agreement, to the extent so disclosed). 
 (iv) Upon termination of Participant’s employment with the Company for any reason, Participant shall (x) cease and not thereafter commence use of any Confidential Information or intellectual
property (including without limitation, any patent, invention, copyright, trade secret, trademark, trade name, logo, domain name or other source 

  
 3 

 
indicator) owned or used by the Company, its subsidiaries or Affiliates; and (y) immediately destroy, delete, or return to the Company, at the Company’s option, all originals and copies
in any form or medium (including memoranda, books, papers, plans, computer files, letters and other data) in Participant’s possession or control (including any of the foregoing stored or located in Participant’s office, home, laptop or
other computer, whether or not Company property) that contain Confidential Information, except that Participant may retain only those portions of any personal notes, notebooks and diaries that do not contain any Confidential Information. 

(b) Intellectual Property. 
 (i) If Participant has created, invented, designed, developed, contributed to or improved any works of authorship, inventions, intellectual property, materials, documents or other work product (including
without limitation, research, reports, software, databases, systems, applications, presentations, textual works, content, or audiovisual materials) (“Works”), either alone or with third parties, prior to Participant’s
employment by the Company, that are relevant to or implicated by such employment (“Prior Works”), Participant hereby grants the Company a perpetual, non-exclusive, royalty-free, worldwide, assignable, sublicensable license under all
rights and intellectual property rights (including rights under patent, industrial property, copyright, trademark, trade secret, unfair competition and related laws) therein for all purposes in connection with the Company’s current and future
business. 
 (ii) If Participant creates, invents, designs, develops, contributes to or improves any Works,
either alone or with third parties, at any time during Participant’s employment by the Company and within the scope of such employment and with the use of any the Company resources (“Company Works”), Participant shall promptly
and fully disclose same to the Company and hereby irrevocably assigns, transfers and conveys, to the maximum extent permitted by applicable law, all rights and intellectual property rights therein (including rights under patent, industrial property,
copyright, trademark, trade secret, unfair competition and related laws) to the Company to the extent ownership of any such rights does not vest originally in the Company. 

(iii) Participant shall take all reasonably requested actions and execute all reasonably requested documents (including
any licenses or assignments required by a government contract) at the Company’s expense (but without further remuneration) to assist the Company in validating, maintaining, protecting, enforcing, perfecting, recording, patenting or registering
any of the Company’s rights in the Prior Works and Company Works. If the Company is unable for any other reason, after reasonable attempt, to secure Participant’s signature on any document for this purpose, then Participant hereby
irrevocably designates and appoints the Company and its duly authorized officers and agents as Participant’s agent and attorney in fact, to act for and in Participant’s behalf and stead to execute any documents and to do all other lawfully
permitted acts required in connection with the foregoing. 
 (iv) Participant shall not improperly use for the
benefit of, bring to any premises of, divulge, disclose, communicate, reveal, transfer or provide access to, or share 

  
 4 

 
with the Company any confidential, proprietary or non-public information or intellectual property relating to a former employer or other third party without the prior written permission of such
third party. Participant shall comply with all relevant policies and guidelines of the Company that are from time to time previously disclosed to Participant, including regarding the protection of Confidential Information and intellectual property
and potential conflicts of interest. Participant acknowledges that the Company may amend any such policies and guidelines from time to time, and that Participant remains at all times bound by their most current version from time to time previously
disclosed to Participant. 
 (v) The provisions of Section 2 hereof shall survive the termination of
Participant’s employment for any reason (except as otherwise set forth in Section 2(a)(iii) hereof). 

  
 5

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