"The new agreement pumps up Shapiro's target bonus to $1.3 million from $1 million, and increases his maximum bonus to $2.6 million instead of 200 percent of his base salary, or $2 million."

Six Flags lost $110 million last year and has not turned a profit since 1998.

This past June, the company said it was looking for buyers for its parks in Denver, Buffalo, Seattle, Houston and Los Angeles. Their two Oklahoma City parks will be sold this year, and this month will see its Columbus, OH water park unloaded as well. Plans for the closure of a water park in Sacramento, CA will also be followed through. The company is attempting to sell more of its holdings, including the 67-acre Six Flags Elitch Gardens near downtown Denver.

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