Exhibit 10.2
May 20,2026
ViaEmail
ChristianDieckmann
[ ]
DearChristian,
This letter agreement (the “Agreement”) confirms the terms of your separation from employmentwithSixFlagsEntertainmentCorporation,aDelawarecorporation(the“Company”), inaccordancewiththeseparationandreleasetermssetforthinyouremploymentagreementwith the Company dated October 8, 2024 (as amended on November 21, 2025) (the “EmploymentAgreement”).
1)SeparationfromEmployment.YouremploymentwiththeCompanywillterminate onMay1, 2026 (the “Separation Date”), which shall be treated as a termination “without Cause” for purposes of your Employment Agreement. Upon your termination of employment on the Separation Date, you will be entitled to the severance payments as set forth in Section 6.1 of the Employment Agreement and described in Section 2 below, subject to the terms of this Agreement.
2)SeveranceBenefits
a)Severance Payments. As set forth in Section 6.1 of the Employment Agreement, in consideration of your acceptance of this Agreement and subject to your full compliance withyour obligationsunder thisAgreement(includingunder theEmploymentAgreement as further described below), in full satisfaction of any and all rights you may have under the Employment Agreement, the Company will pay to you:
i)your accrued and unpaid Base Salary (as defined in the Employment Agreement), reimbursement of expenses in accordance with the Employment Agreement, any accrued and unused vacation days, in each case accrued as of the Separation Date, on the next payroll date following the execution, non-revocation and expiration of the revocation period of the Release Agreement referred to in Section 4 hereof, and the Company will also pay to you all other accrued amounts or accrued benefits due in accordance with the Company’s benefit plans, programs or policies (other than severance);
ii)$2,250,000, representing an amount equal to two and one half (2.5) times your Base Salary and target Annual Cash Incentive (as defined in the Employment Agreement), payable in a single lump sum payment on the next payroll date following the execution, non-revocation and expiration of the revocation period of the Release Agreement referred to in Section 4 hereof, subject to all required tax withholding;
iii)a pro-rata portion of your Annual Cash Incentive for the calendar year 2026 (determined in accordance with the Employment Agreement and based on actual performance), payable at the same time that other senior executives of the Company receive bonus payments for 2026, but in no event later than March 15, 2027; and
iv)anafter-taxlumpsumamountequaltothirty(30)monthsofpremiumsforcontinuation coverage under COBRA (as defined in the Employment Agreement) under the Company’sgroupmedicalplansasineffectfromtimetotime,lesstheamountofyour portion of such premiums determined as if you were an active employee, payableon the next payroll date following the execution, non-revocation and expiration of the revocation period of the Release Agreement referred to in Section 4 hereof.
b)Equity Awards. Upon the Separation Date, you shall immediately become fully vested in your outstanding and unvested equity awards under the Company’s Stock Incentive Plan (asdefinedintheEmploymentAgreement)setforthonExhibitAhereto,providedthatany equity awardsconditioned uponperformancecriteria,goals orobjectivesshall bepayable at target.
c)Attorney’sFees.PursuanttoSection12.13ofyourEmploymentAgreement,theCompany shall reimburse you for your attorney’s fees incurred in connection with this Agreement (which enforces the terms of your Employment Agreement), which fees represent a total of $10,000, payable on the next payroll date following the execution, non-revocation and expiration of the revocation period of the Release Agreement referred to in Section 4 hereof, subject to presentation of appropriate invoices.
3)Conditions;RestrictiveCovenants.Yourrightstotheseverancepaymentsandbenefitssetforth in paragraphs2(a)(ii),(iii)and (iv), and paragraph2(b) shall besubject to all ofthe termsand conditions of the Employment Agreement, which is incorporated herein by reference, including without limitation your obligations under Section 8 thereof (including your confidentiality, non-competition, non-solicitation and non-disparagement obligations), and your obligation to sign and honor the Release Agreement as described below. You agree to continuetohonortherestrictivecovenantobligationssetforthintheEmploymentAgreement, andagreethatallpost-employmentrestrictionperiodssetforththereinshallcommenceonthe Separation Date.
4)Release of Claims. In consideration of the payments and benefits set forth in paragraphs 2(a)(ii),(iii)and(iv),andparagraph2(b),andasrequiredbytheEmploymentAgreement,you agree to timely execute and not to revoke the release of claims in the form of the Release Agreement attached as Exhibit B to this Agreement following theSeparation Date withinthe time specified therein. The execution and non-revocation of the Release Agreement is a conditiontothereceiptoftheseverancepaymentsandbenefitsprovidedunderthisAgreement (to the extent not otherwise required by law), which will commence following the expiration of the revocation period as provided therein.
5)No Further Compensation or Benefits. Unless earlier terminated as provided herein, your activeparticipationinallemployeebenefitplansandprogramsoftheCompanywillterminate asoftheSeparationDateinaccordancewiththetermsofsuchplansandprograms.You
acknowledge that, except as expressly provided in this Agreement, you will not receive from the Company any additional compensation, benefits or severance on or after the Separation Date, with the exception of any vested right you may have under the express terms of the Company’s compensation or employee benefits plans or programs.
6)Section409A.ThisAgreementandthepaymentsandbenefitsprovidedhereunderareintended tobeexemptfrom,orcomplywith,therequirementsofSection409AoftheInternalRevenue Code, and shall be construed consistently with that intent. Notwithstanding the foregoing, in no event shall the Company have any liability relating to the failure or alleged failure of any paymentorbenefitunderthisAgreementtobeexemptfrom,orcomplywith,therequirements ofSection409AoftheInternalRevenueCode.EachpaymentmadeunderthisAgreementshall be treated as a separate payment and the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments.
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Iftheforegoingisacceptabletoyou, pleasesignthisAgreementinthespaceprovidedbelowand return it to the Company.
Sincerely,
Six FlagsEntertainmentCorporation
By: /s/ John Reilly
Name: John Reilly
Title: President & ChiefExecutive Officer
Acceptedand Agreed:
/s/ Christian Dieckmann
ChristianDieckmann
Date: May 20, 2026