0000950123-10-020106 Sample Contracts

GREAT WOLF RESORTS, INC. EMPLOYMENT AGREEMENT FOR KIMBERLY SCHAEFER
Employment Agreement • March 2nd, 2010 • Great Wolf Resorts, Inc. • Hotels & motels • Delaware

This is an Employment Agreement entered into between Great Wolf Resorts, Inc., a Delaware corporation, or the “Company,” and Kimberly Schaefer, or “Executive,” the terms and conditions of which are as follows:

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FIRST AMENDMENT TO EMPLOYMENT AGREEMENT FOR TIMOTHY BLACK
Employment Agreement • March 2nd, 2010 • Great Wolf Resorts, Inc. • Hotels & motels

This is a FIRST AMENDMENT TO EMPLOYMENT AGREEMENT, dated December 16,2009, between Great Wolf Resorts, Inc., a Delaware corporation (“Employer”) and Timothy Black, a natural person resident of the State of Wisconsin as of the date hereof (“Employee”), the terms and conditions of which are as follows:

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT FOR J. MICHAEL SCHROEDER
Employment Agreement • March 2nd, 2010 • Great Wolf Resorts, Inc. • Hotels & motels

This is a FIRST AMENDMENT TO EMPLOYMENT AGREEMENT, dated May 28, 2008, between Great Wolf Resorts, Inc., a Delaware corporation (“Employer”) and J. Michael Schroeder, a natural person resident of the State of Wisconsin as of the date hereof (“Employee”), the terms and conditions of which are as follows:

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT FOR J. MICHAEL SCHROEDER
Employment Agreement • March 2nd, 2010 • Great Wolf Resorts, Inc. • Hotels & motels

This is a SECOND AMENDMENT TO EMPLOYMENT AGREEMENT, dated July 2, 2008, between Great Wolf Resorts, Inc., a Delaware corporation (“Employer”) and J. Michael Schroeder, a natural person resident of the State of Wisconsin as of the date hereof (“Employee”), the terms and conditions of which are as follows:

CALYON NEW YORK BRANCH 1301 Avenue of the Americas New York, New York 10019
Great Wolf Resorts, Inc. • March 2nd, 2010 • Hotels & motels • New York

We refer to the Loan Agreement, dated as of August 4, 2008, among Great Wolf Williamsburg SPE, LLC, as borrower (“Borrower”), Calyon New York Branch, as agent (in such capacity, “Agent”), and Calyon New York Branch and Capmark Bank, as Lenders (the “Loan Agreement”; all capitalized terms used but not defined herein shall have the respective meanings ascribed to them in the Loan Agreement).

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