Document:

EX-10.5

 Exhibit 10.5 

SEAWORLD ENTERTAINMENT, INC. 

STOCK OWNERSHIP GUIDELINES 

Adopted March 14, 2014 

Amended and Restated as of March 3, 2015 
  

	I.	General Statement 

 The Board of Directors of SeaWorld Entertainment, Inc., a Delaware
corporation (the “Company”) has adopted these Stock Ownership Guidelines (these “Guidelines”) to further align the interests of the Company’s executives and non-employee members of the Company’s Board of
Directors with the interests of the Company’s stockholders. 
  

	II.	Stock Ownership Guidelines 

 These Guidelines provide that members of the Company’s
senior management who are considered executive officers for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, other members of the Company’s Operations Committee and non-employee members of the Company’s Board
of Directors, will be subject to stock ownership guidelines established as a multiple of annual base salary or annual cash retainer, as follows: 
  

			
	 Leadership Position
	  	 Value of Shares

	Chief Executive Officer	  	6x annual base salary
		
	Non-employee directors	  	5x annual cash retainer
		
	 Chief Financial Officer
 Chief Parks Operations
Officer
 Chief Legal and Corporate Affairs Officer
	  	3x annual base salary
		
	 Chief Creative Officer
 Chief Human Resources
Officer
 Chief Zoological Officer
	  	2x annual base salary
		
	 Chief Accounting Officer
 Other Operations
Committee Members
	  	1x annual base salary

  

	III.	Stock Ownership Definition 

 Stock that counts toward satisfaction of these Guidelines
include: (a) shares of the Company’s common stock owned directly by the individual or his or her immediate family members residing in the same household, whether held individually or jointly (including, without limitation, shares of
restricted stock to the extent the restrictions applicable thereto have lapsed and shares received upon the settlement of restricted stock units); (b) shares of the Company’s common stock held in an individual’s IRA accounts;
(c) shares of the Company’s common stock held in the Company’s 401(k) plan; (d) shares of time-based restricted stock (to the extent the restrictions have not lapsed) or time-based restricted stock units (whether or not the
restrictions have lapsed); (e) shares of performance-based restricted stock (to the extent the restrictions have 

 
not lapsed) or performance-based restricted stock units (whether or not the restrictions have lapsed), in each case, issued prior to the date of the initial adoption of these Guidelines;
(f) shares of the Company’s common stock held in a grantor trust for the benefit of the individual or his or her immediate family members residing in the same household; and (g) shares of the Company’s common stock owned by a
partnership, limited liability company or other entity to the extent of the individual’s interest therein (or the interest therein of his or her immediate family members residing in the same household) but only if the individual has or shares
power to vote or dispose of the shares. For avoidance of doubt, the following equity awards do not count toward satisfaction of these Guidelines: (1) outstanding stock options and (2) performance-based restricted stock (to the extent the
restrictions have not lapsed) or performance based restricted stock units (whether or not the restrictions have lapsed), in each case, issued on or after the date of the initial adoption of these Guidelines. 

 

	IV.	Compliance with Stock Ownership Guidelines 

 The determination of whether an individual
meets the specified guideline level of ownership will be made as of the last day of the fiscal year by using the average closing market price on the New York Stock Exchange (or such other national securities exchange on which the Company’s
common stock is then principally listed) of a share of the Company’s common stock for the prior 60-day period. 
  

	V.	Stock Retention Requirements 

 Until such time as an individual covered by these
Guidelines has achieved compliance with these Guidelines, or becomes non-compliant due to a reduction in stock price, he or she will be required to retain at least fifty percent (50%) of the Net Shares that are acquired as a result of the
exercise, vesting or payment of any Company equity awards granted to such individual until compliance is achieved or re-achieved. “Net Shares” are those shares that remain after shares are sold or withheld, as the case may be, to
pay any applicable exercise price for the award and satisfy any tax obligations arising in connection with the exercise, vesting or payment of the award. Because an individual covered by these Guidelines must retain a percentage of Net Shares
acquired from Company equity awards until such individual satisfies the specified guideline level of ownership, there is no minimum time period required to achieve the specified guideline level of ownership. The retention requirements of this
Section V shall only apply to Net Shares realized after the date of the initial adoption of these Guidelines. 
  

	VI.	Hardships and Waivers 

 There may be instances in which these Guidelines would place a
hardship on an individual covered by these Guidelines or prevent such individual from complying with a court order, such as a divorce settlement. In these instances, such individual must submit a request in writing to the Company’s Compensation
Committee summarizing the circumstances and describing the extent to which an exemption is being requested. The Compensation Committee, in its sole discretion, shall make the final decision as to whether an exemption will be granted. 

  
 2EX-10.6

 Exhibit 10.6 

RESTRICTED STOCK GRANT NOTICE 

UNDER THE 
 SEAWORLD
ENTERTAINMENT, INC. 
 2013 OMNIBUS INCENTIVE PLAN 

(Employees – Annual Incentive Plan Award) 

SeaWorld Entertainment, Inc., a Delaware corporation (the “Company”), pursuant to its 2013 Omnibus Incentive Plan (the
“Plan”), hereby grants to the Participant set forth below the number of shares of Restricted Stock set forth below. The shares of Restricted Stock are subject to all of the terms and conditions as set forth herein, in the Restricted
Stock Agreement (attached hereto or previously provided to the Participant in connection with a prior grant), and in the Plan, all of which are incorporated herein in their entirety. Capitalized terms not otherwise defined herein shall have the
meaning set forth in the Plan. 
  

			
	Participant:		[Participant Name]
		
	Date of Grant:		[Date of Grant]
		
	Performance Period:		The period commencing on January 1, 2015 and ending on December 31,
2015 (the “Performance Period”)
		
	Number of Shares of Restricted Stock:		[No. of Shares of Restricted Stock]
		
	Vesting Schedule:		The shares of Restricted Stock shall vest at such times and in such amounts as set forth in
Exhibit A to the Restricted Stock Agreement.

*    *    * 

 THE UNDERSIGNED PARTICIPANT ACKNOWLEDGES RECEIPT OF THIS RESTRICTED STOCK GRANT NOTICE, THE RESTRICTED STOCK
AGREEMENT AND THE PLAN, AND, AS AN EXPRESS CONDITION TO THE GRANT OF SHARES OF RESTRICTED STOCK HEREUNDER, AGREES TO BE BOUND BY THE TERMS OF THIS RESTRICTED STOCK GRANT NOTICE, THE RESTRICTED STOCK AGREEMENT AND THE PLAN. 

 

					
	SEAWORLD ENTERTAINMENT, INC.				PARTICIPANT1
			
	  
				  

	By:				
	Title:				

  

	1 	To the extent that the Company has established, either itself or through a third-party plan administrator, the ability to accept this award electronically, such acceptance shall constitute the Participant’s
signature hereof. 

  
 2 

 RESTRICTED STOCK AGREEMENT 

UNDER THE 
 SEAWORLD
ENTERTAINMENT, INC. 
 2013 OMNIBUS INCENTIVE PLAN 

Pursuant to the Restricted Stock Grant Notice (the “Grant Notice”) delivered to the Participant (as defined in the Grant
Notice), and subject to the terms of this Restricted Stock Agreement (this “Restricted Stock Agreement”) and the SeaWorld Entertainment, Inc. 2013 Omnibus Incentive Plan (the “Plan”), SeaWorld Entertainment, Inc., a
Delaware corporation (the “Company”), and the Participant agree as follows. Capitalized terms not otherwise defined herein shall have the same meaning as set forth in the Plan. 

1. Grant of Shares of Restricted Stock. Subject to the terms and conditions set forth herein and in the Plan, the Company hereby
grants to the Participant the number of shares of Restricted Stock provided in the Grant Notice. The Company may make one or more additional grants of shares of Restricted Stock to the Participant under this Restricted Stock Agreement by providing
the Participant with a new Grant Notice, which may also include any terms and conditions differing from this Restricted Stock Agreement to the extent provided therein. The Company reserves all rights with respect to the granting of additional shares
of Restricted Stock hereunder and makes no implied promise to grant additional shares of Restricted Stock. 
 2. Vesting.
Subject to the conditions contained herein and in the Plan, the shares of Restricted Stock shall vest and the restrictions on such shares of Restricted Stock shall lapse as provided in Exhibit A attached hereto. With respect to any share of
Restricted Stock, the period of time that such share of Restricted Stock remains subject to vesting shall be its Restricted Period. 
 3.
Issuance of Shares of Restricted Stock. The provisions of Section 9(d)(i) of the Plan are incorporated herein by reference and made a part hereof. 

4. Treatment of Shares of Restricted Stock Upon Termination. The provisions of Sections 9(b) of the Plan are incorporated
herein by reference and made a part hereof. In the event the Participant undergoes a Termination, the treatment of the unvested shares of Restricted Stock shall be set forth in Exhibit A attached hereto. 

5. Company; Participant. 

(a) The term “Company” as used in this Restricted Stock Agreement with reference to employment shall include the Company and its
Subsidiaries. 
 (b) Whenever the word “Participant” is used in any provision of this Restricted Stock Agreement under
circumstances where the provision should logically be construed to apply to the executors, the administrators, or the person or persons to whom the shares of Restricted Stock may be transferred by will or by the laws of descent and distribution, the
word “Participant” shall be deemed to include such person or persons. 

  
 3 

 6. Non-Transferability. The shares of Restricted Stock are not transferable by the
Participant except to Permitted Transferees in accordance with Section 14(b) of the Plan. Except as otherwise provided herein, no assignment or transfer of the shares of Restricted Stock, or of the rights represented thereby, whether voluntary
or involuntary, by operation of law or otherwise, shall vest in the assignee or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the shares of Restricted Stock shall terminate and become of no
further effect. 
 7. Rights as Stockholder; Legend. The provisions of Sections 9(b) and 9(e) of the Plan are incorporated
herein by reference and made a part hereof; provided, that any cash or in-kind dividends paid with respect to the shares of Restricted Stock which have not, prior to the record date of the dividend, become vested shall be withheld by the Company
without interest and shall be paid to the Participant only when, and if, such shares of Restricted Stock shall become vested pursuant to Section 2. 

8. Tax Withholding. The provisions of Section 14(d) of the Plan are incorporated herein by reference and made a part
hereof. 
 9. Notice. Every notice or other communication relating to this Restricted Stock Agreement between the Company and
the Participant shall be in writing, and shall be mailed to or delivered to the party for whom it is intended at such address as may from time to time be designated by such party in a notice mailed or delivered to the other party as herein provided;
provided that, unless and until some other address be so designated, all notices or communications by the Participant to the Company shall be mailed or delivered to the Company at its principal executive office, to the attention of the
Corporate Secretary, and all notices or communications by the Company to the Participant may be given to the Participant personally or may be mailed to the Participant at the Participant’s last known address, as reflected in the Company’s
records. Notwithstanding the above, all notices and communications between the Participant and any third-party plan administrator shall be mailed, delivered, transmitted or sent in accordance with the procedures established by such third-party plan
administrator and communicated to the Participant from time to time. 
 10. No Right to Continued Service. This Restricted
Stock Agreement does not confer upon the Participant any right to continue as an employee or service provider to the Company. 
 11.
Binding Effect. This Restricted Stock Agreement shall be binding upon the heirs, executors, administrators and successors of the parties hereto. 

12. Waiver and Amendments. Except as otherwise set forth in Section 13 of the Plan, any waiver, alteration, amendment or
modification of any of the terms of this Restricted Stock Agreement shall be valid only if made in writing and signed by the parties hereto; provided, however, that any such waiver, alteration, amendment or modification is consented to on the
Company’s behalf by the Committee. No waiver by either of the parties hereto of their rights hereunder shall be deemed to constitute a waiver with respect to any subsequent occurrences or transactions hereunder unless such waiver specifically
states that it is to be construed as a continuing waiver. 

  
 4 

 13. Clawback/Forfeiture. Notwithstanding anything to the contrary contained herein
or in the Plan, if the Participant has engaged in or engages in any Detrimental Activity, then the Committee may, in its sole discretion, take actions permitted under the Plan, including: (i) cancel the shares of Restricted Stock, or
(ii) require that the Participant forfeit any gain realized on the vesting of the Restricted Stock, and repay such gain to the Company. In addition, if the Participant receives any amount in excess of what the Participant should have received
under the terms of this Restricted Stock Agreement for any reason (including without limitation by reason of a financial restatement, mistake in calculations or other administrative error), then the Participant shall be required to repay any such
excess amount to the Company. Without limiting the foregoing, all shares of Restricted Stock shall be subject to reduction, cancellation, forfeiture or recoupment to the extent necessary to comply with applicable law and applicable Company policies.

 14. Governing Law. This Restricted Stock Agreement shall be construed and interpreted in accordance with the laws of
the State of Delaware, without regard to the principles of conflicts of law thereof. Notwithstanding anything contained in this Restricted Stock Agreement, the Grant Notice or the Plan to the contrary, if any suit or claim is instituted by the
Participant or the Company relating to this Restricted Stock Agreement, the Grant Notice or the Plan, the Participant hereby submits to the exclusive jurisdiction of and venue in the courts of Delaware.  

15. Plan. The terms and provisions of the Plan are incorporated herein by reference. In the event of a conflict or
inconsistency between the terms and provisions of the Plan and the provisions of this Restricted Stock Agreement, the Plan shall govern and control.  

  
 5 

 Exhibit A 

1. Normal Vesting of Restricted Stock. 

(a) Provided the Participant has not undergone a Termination on or prior to the last day of the Performance Period, a number of shares of
Restricted Stock shall vest and the restrictions on such shares of Restricted Stock shall lapse on the date (the “Vesting Date”) the Committee determines the level of attainment of Consolidated EBITDA (as defined below) in
accordance with the table below: 
  

			
	 Consolidated EBITDA Attainment*
	  	 Percentage of the number of shares of

Restricted Stock that will Vest

	Below $[            ] million	  	0%
	$[            ] million or greater	  	100%

  

	*	For the avoidance of doubt, the attainment of Consolidated EBITDA in between the levels set forth in the table above will not be pro-rated. 

(b) Any remaining shares of unvested Restricted Stock that do not become vested in accordance with Section 1(a) of this Exhibit A
(if any) shall immediately be forfeited to the Company by the Participant for no consideration as of the Vesting Date. 
 (c) For purposes
of this Exhibit A, the term “Consolidated EBITDA” shall mean the Adjusted EBITDA which is publicly disclosed in (or otherwise calculated in a manner consistent with) the Company’s earnings release for the applicable
fiscal year. In connection with foregoing, the Company’s Chief Financial Officer shall certify in writing to the Committee the Consolidated EBITDA. 

2. Treatment of Shares of Restricted Stock Upon Termination. 

Notwithstanding anything to the contrary in Section 9(c)(ii) of the Plan, in the Event of Participant’s Termination for any reason on
or prior to the last day of the Performance Period, all unvested shares of Restricted Stock shall be forfeited to the Company by the Participant for no consideration as of the date of such Termination. For the avoidance of doubt, in the event the
Participant’s Termination occurs after the last day of the Performance Period but prior to the Vesting Date, the shares of Restricted Stock shall remain eligible to vest in accordance with Section 1 of this Exhibit A.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00244-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00244-of-00352.parquet"}]]