Document:

Exhibit 10.6

 

Amendment No. 1

to

Employment Agreement

 

The Amendment No. 1, dated as of April 1, 2010 (“Amendment”),
to the Employment Agreement, dated as of April 1, 2009 (the “Agreement”)
by and among Six Flags, Inc., Six Flags Operations Inc. and Six Flags
Theme Parks Inc. and Andrew Schleimer. 
Capitalized terms used but not defined herein shall have the meanings
ascribed thereto in the Agreement.

 

W I T N E S S E T H:

 

WHEREAS, Executive is currently employed by SF pursuant to the
Agreement;

 

WHEREAS, the Company and Executive desire to modify the terms and
conditions of Executive’s continued employment by entering into this Amendment;
and

 

NOW, THEREFORE, in consideration of the mutual covenants set forth in
this Amendment, it is hereby agreed as follows:

 

1.             Section 3(d) of
the Agreement is hereby amended in its entirety to read as follows:

 

“(d) Equity Awards. 
Promptly following a Triggering Event, SF shall issue to Executive under
the Long Term Incentive Plan (as described in the Company’s Modified Fourth Amended Joint Plan of
Reorganization under Chapter 11 of the Bankruptcy Code, as it may be further
amended, filed on April 1, 2010 in the United States Bankruptcy Court for
the District of Delaware (the “Plan”)) restricted shares of SF Common Stock and
options to purchase shares of common stock in an amount and with such vesting
and other terms as mutually agreed to by the Chief Executive Officer and the
Board.”

 

2.             Section 4(c)(iv) is
hereby amended to by adding the following proviso at the end thereof:

 

“; provided, however,
that any such occurrence resulting directly from
the consummation of the transactions contemplated by the Plan shall not be deemed to constitute ‘Good Reason’.”

 

3.             Exhibit A to
the Agreement is hereby amended in its entirety to read as provided in Exhibit A
to this Amendment.

 

 

4.             This Amendment
shall become effective upon the entry of an order of the United States
Bankruptcy Court for the District of Delaware, pursuant to 11 U.S.C. § 365,
authorizing the assumption hereof, which order is contemplated to be part of an
order confirming the Plan, pursuant to 11 U.S.C. § 1129.  Until such time as an order authorizing such
assumption is entered, the Agreement shall remain in full force and effect.

 

5.             Except as set forth
in this Amendment, the Agreement remains in full force and effect.

 

(Signature page follows)

 

 

	
   

  	
   

  	
  /s/ Andrew Schleimer

  
	
   

  	
   

  	
  Andrew Schleimer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  SIX FLAGS, INC.

  
	
   

  	
   

  	
  SIX FLAGS OPERATIONS INC.

  
	
   

  	
   

  	
  SIX FLAGS THEME PARKS INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Mark Shapiro

  
	
   

  	
   

  	
  Name: 

  	
  Mark Shapiro

  
	
   

  	
   

  	
  Title: 

  	
  President and Chief Executive Officer

  

 

 

EXHIBIT A

 

Annual Bonus Parameters

 

Definitions:

 

“Performance Parameters” shall mean the
following, as determined annually by the Board:

 

(a) Budgeted Adjusted EBITDA:  Total budgeted Adjusted EBITDA (as defined in
the Company’s earnings releases).

 

(b) Budgeted Free Cash Flow:  Total Budgeted Free Cash Flow (as defined in
the Company’s earnings releases).

 

(c) Budgeted Attendance:  Total budgeted attendance.

 

(d) Budgeted In-Park Net Revenue Per
Capita:  Total budgeted in-park net
revenue per capita.

 

(e) Budgeted Sponsorship/Licensing
Revenue:  Total budgeted
sponsorship/licensing revenue.

 

Rules for
Calculation of Annual Bonus:

 

Any annual bonus payable under Section 3(b) of
this Agreement, shall be determined annually by the compensation committee of
the Board (the “Committee”) in accordance with the rules below.  All determinations by the Committee shall be
final and binding on Executive.  All
Adjusted EBITDA and other bonus targets shall be determined by reference to the
Company’s Budget for each year as approved by the Board.  The Committee shall work with the Chief
Executive Officer to determine appropriate bonus targets for any items that are
not specifically contained in the Company’s Budget each year.

 

1. Subject to the other rules, the
Performance Parameters shall be weighted as follows in determining the amount
of the annual bonus:  Budgeted Adjusted
EBITDA:  50% and 12.5% for each of the
remaining Performance Parameters.

 

2. No annual bonus whatsoever shall be
payable in respect of a given fiscal year if actual Adjusted EBITDA for such
year is less than 90% of Budgeted Adjusted EBITDA.

 

3. If actual results for a given Performance
Parameter are less than 90% of the Performance Parameter, no amount shall be
payable in respect of such Performance Parameter.

 

4. If actual Adjusted EBITDA for a given
fiscal year equals or exceeds 90% of Budgeted Adjusted EBITDA, and the results
for any given Performance Parameter (including Budgeted Adjusted EBITDA) equals
or exceeds 90% of the Performance Parameter, then the amount payable in respect
of such parameter shall be determined by multiplying the product of the Target
Bonus and the weight ascribed to the Performance Parameter in Rule 1 above
by the appropriate multiplier below:

 

 

	
  Multiplier

  	
   

  	
  Performance Level

  
	
   

  	
   

  	
   

  
	
  0.5 

  	
   

  	
  Actual Performance equals
  90% of the  Performance Parameter
  (including Budgeted  Adjusted EBITDA) 

  
	
   

  	
   

  	
   

  
	
  0.75  

  	
   

  	
  Actual Performance equals
  95% of the  Performance Parameter
  (including Budgeted  Adjusted EBITDA)  

  
	
   

  	
   

  	
   

  
	
  1.0 

  	
   

  	
  Actual Performance equals
  100% of the  Performance Parameter
  (including Budgeted  Adjusted EBITDA) 

  
	
   

  	
   

  	
   

  
	
  1.5 

  	
   

  	
  Actual Performance equals
  105% of the  Performance Parameter
  (including Budgeted  Adjusted EBITDA) 

  
	
   

  	
   

  	
   

  
	
  2.0 

  	
   

  	
  Actual Performance equals
  or exceeds 110% of  the Performance Parameter
  (including Budgeted  Adjusted EBITDA) 

  
	
   

  	
   

  	
   

  
	
  Determined by interpolation
  between 0.5  and 2.0 

  	
   

  	
  Actual Performance exceeds
  90% but is below  110% of the Performance
  Parameter (including  Budgeted Adjusted EBITDA) 

  

 

5. If Executive’s employment with the Company
ceases upon expiration of the Term, Executive shall be entitled to a lump sum
payment, within ten (10) business days, equal to the Target Bonus for
Executive for the year of termination pro-rated based on the number of days
from the beginning of the year through the Date of Termination divided by the
total number of days in the year of termination.Exhibit 10.4.3

 

AMENDMENT TO THE

 EMPLOYMENT
AGREEMENT WITH TODD G. ZIMMERMAN

 

THIS AMENDMENT (“Amendment”),
effective on the 1st day of April, 2010 is made by and between
Emergency Medical Services Corporation, a Delaware corporation (the “Company”), and Todd G. Zimmerman (“Executive”),
in order to amend the Employment Agreement heretofore entered into between
Emergency Medical Services, L.P. (“EMS L.P.”)
and Executive, as assigned by EMS L.P. to EMSC on February 10, 2005, and
as amended on January 1, 2009 and on March 12, 2009 (collectively the
“Employment Agreement”).

 

WHEREAS,
the Company and the Executive desire to amend the Employment Agreement to amend
the duties of Executive and modify the compensation payable to Executive;

 

WHEREAS,
the Company and the Executive desire to amend the Employment Agreement to
extend the restrictive covenants to twenty-four (24) months to coincide with
the length of the Salary/Benefit Continuation section as previously amended.

 

NOW,
THEREFORE, the Agreement is hereby amended as follows:

 

1.                                       Subsection A of Section 2, “Employment,” shall be amended and restated to read in its entirety as follows:
 
A.                                   Company shall employ the Executive as President of its indirect wholly-owned subsidiary EmCare, Inc. (“EmCare”), and the Executive shall serve in such capacity, performing such duties as are consistent with such position, along with such other duties and responsibilities assigned to the Executive by the Chief Executive Officer (“CEO”) of the Company.  The Company shall also employ the Executive as Executive Vice President and Secretary of Company and the Executive shall serve in such capacity, performing such duties as are consistent with such position, along with such other duties and responsibilities assigned to the Executive by the CEO of the Company.  The Executive shall devote his best efforts and all of his business time to the performance of his duties under this Agreement and shall perform them faithfully, diligently, competently and in a manner consistent with the policies of the Company and EmCare as determined from time to time by the Company and EmCare.
 
2.                                       Subsection A of Section 4, “Compensation,” shall be amended and restated to read in its entirety as follows:

 

A.                                   As full
compensation for all services rendered by the Executive pursuant to this
Agreement, the Company shall pay, or shall cause a Subsidiary to pay, to the
Executive a salary of Five Hundred Fifty Thousand Dollars ($550,000) per year (“Base
Salary”), less applicable withholdings. The Base Salary shall be payable twice
monthly on the 15th business day and last business day of each
month. Executive’s compensation shall be reviewed by the Board annually during
the Company’s normal review period, beginning in the year following the first
anniversary of the Effective 

 

 

Date.  In addition to the Base Salary set forth
above, Company agrees to reimburse Executive for the reasonable cost of housing
and an automobile for use in the in the Dallas/Fort Worth metropolitan area
while performing his duties as the President of EmCare.  Executive shall submit a proposal for housing
and automobile expense to the CEO of the Company for approval in his sole
discretion.

 

3.                                       Executive shall continue to be eligible to participate in the short-term incentive plan as set forth in the Employment Agreement for fiscal year 2010 and Executive’s incentive compensation for fiscal year 2011 and thereafter shall be determined by the Board.
 
4.                                       A new Subsection D shall be added to Section 4 “Compensation,” as follows:
 
D.                                    Subject to the approval of the Board of the Company and upon the soonest possible grant date approved by the Board,  Executive shall receive a one-time grant of options to purchase twenty-five thousand (25,000) shares of class A common stock of Company which will vest over the course of four (4) years on substantially the terms set forth in the Option Agreement between Company and Executive entered into simultaneously with the grant of such stock by the Board and twenty-five thousand (25,000) restricted shares of class A common stock of Company which will vest over the course of three (3) years on substantially the terms set forth in the Restricted Stock Agreement between Company and Executive entered into simultaneously with the grant of such stock by the Board.
 
5.                                       Subsections A and B of Section 9 “Restrictive Covenants,” shall be amended and restated to read in their entirety as follows:

 

A.                                   Executive
agrees that during the term of this Agreement, and for twenty-four (24) months
thereafter (provided, that if Executive does not receive severance benefits
upon termination of this Agreement, such period shall be twelve (12) months),
Executive will not in any manner, without the prior written consent of the
Company, directly or indirectly: (1) disclose or divulge to any person,
entity, firm, company or employer, or use for Executive’s own benefit or the
benefit of any other person, entity, firm, company or employer directly or
indirectly in competition with the Company, any knowledge, information,
business methods, techniques or data of the Company; (2) solicit, divert,
take away or interfere with any of the customers, accounts, trade, business
patronage, employees or contractual arrangements of the Company; (3) compete
with the Company or enter into any contractual arrangements for the provision
of medical transportation services, and physician practice management services
as related to hospital emergency department and hospitalist outsourcing with
any governmental authority, provider or hospital with which Executive has come into
contact while an employee of the Company; or (4) either individually or in
partnership, or jointly in conjunction with any other person, entity or
organization, as principal, agent, consultant, lender, contractor, employer,
employee, investor, shareholder, or in any other manner, directly or
indirectly, manage, carry on, establish, control, engage in, invest in, offer
financial assistance, 

 

2

 

financial
services to, or permit his name to be used by any business that competes with
the then-existing business of the Company, provided that the Executive shall be
entitled, for investment purposes, to purchase and trade shares of a public
company which are listed and posted for trading on a recognized stock exchange
and the business of which public company may be in competition with the
business of the Company, provided that the Executive shall not directly or
indirectly own more than five percent (5%) of the issued share capital of the
public company, or participate in its management or operation, or in any
advisory capacity within the time limits set out herein. Solely for the
purposes of this paragraph 9, the term “Company” shall mean the Company, its
subsidiaries, its affiliates, their subsidiaries and companies for whom such
entities provide services.

 

B.                                     Executive
further agrees that for a period of twenty-four (24) months following
termination of employment, however caused, he will not solicit for hire or
rehire, or take away, or cause to be hired, or taken away, management level
employee(s) of the Company.

 

6.                                       Except as specifically set forth herein, all of the terms and conditions of the Employment Agreement are declared by the parties to be in full force and effect without change.

 

IN
WITNESS WHEREOF, the Company and Executive have executed this Agreement, in multiple
counterparts, each of which shall be deemed an original, effective as of April 1,
2010.

 

EMERGENCY
MEDICAL SERVICES CORPORATION

 

 

	
  By:

  	
  /s/ William A. Sanger

  	
   

  
	
   

  	
  Name: William A. Sanger

  	
   

  
	
   

  	
  Title:   Chairman
  and CEO

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  EXECUTIVE

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Todd G.
  Zimmerman

  	
   

  
	
   

  	
  Todd
  G. Zimmerman

  	
   

  

 

3

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