Exhibit 10.30
May 10, 2006
Todd R. Wulffson
2508 Platt Place
Tustin Ranch, CA 92782
Dear Todd,
This letter confirms our offer of employment for
the position of Vice President, General Counsel, for Festival Fun
Parks, LLC, which is a wholly-owned subsidiary of Palace
Entertainment Holdings, Inc. Your annual base salary will be
$225,000. We look forward to you joining our team, effective
May 22, 2006.
You will receive equity incentive
units in Palace Holdings Group, LLC. You will be mailed a
separate packet containing additional detailed information as well
as documents requiring your signature. The terms and conditions of
the equity grant will be set forth in the unit grant agreement and
operating agreement of Palace Holdings Group, LLC.
You will be eligible to receive an
annual cash bonus as determined by the board of directors of
Festival in its sole discretion. You are guaranteed a minimum
bonus payment of $25,000 to be paid in February, 2007, subject to
being on the payroll.
In addition, you are eligible for other benefits
made available to Festival employees, which includes a major
medical plan, group term life insurance, dental insurance, vision
care, 401(k) plan, vacation and holiday periods. Should you have
any questions regarding these benefits, please feel free to contact
me at 949-797-9707.
You agree that, without the Company’s
prior written consent, you shall not engage i
