0000921738-23-000050 Sample Contracts

PENN ENTERTAINMENT, INC. NON-QUALIFIED STOCK OPTION AWARD AGREEMENT
Non-Qualified Stock Option Award Agreement • November 2nd, 2023 • PENN Entertainment, Inc. • Hotels & motels • Pennsylvania

This Award is subject to the terms and conditions of the PENN Entertainment, Inc. 2022 Long Term Incentive Compensation Plan, as amended from time to time (the “Plan”), which has been made available to you, and any rules, and regulations established by the Compensation Committee of the Board of Directors of the Company (the “Committee”) or its delegate. Words used herein with initial capitalized letters that are not defined in this Award are defined in the Plan.

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PENN ENTERTAINMENT, INC. RESTRICTED STOCK UNIT AWARD AGREEMENT (Cash-Settled)
Restricted Stock Unit Award Agreement • November 2nd, 2023 • PENN Entertainment, Inc. • Hotels & motels • Pennsylvania

This Award is subject to the terms and conditions of the PENN Entertainment, Inc. 2022 Long Term Incentive Compensation Plan, as amended from time to time (the “Plan”), which has been made available to you, and any rules, and regulations established by the Compensation Committee of the Board of Directors of the Company (the “Committee”) or its delegate. Words used herein with initial capitalized letters that are not defined in this Award are defined in the Plan.

PENN ENTERTAINMENT, INC. RESTRICTED STOCK UNIT AWARD AGREEMENT (Stock-Settled)
Restricted Stock Unit Award Agreement • November 2nd, 2023 • PENN Entertainment, Inc. • Hotels & motels • Pennsylvania

This Award is subject to the terms and conditions of the PENN Entertainment, Inc. 2022 Long Term Incentive Compensation Plan, as amended from time to time (the “Plan”), which has been made available to you, and any rules, and regulations established by the Compensation Committee of the Board of Directors of the Company (the “Committee”) or its delegate. Words used herein with initial capitalized letters that are not defined in this Award are defined in the Plan.

PENN ENTERTAINMENT, INC. RESTRICTED STOCK AWARD AGREEMENT
Restricted Stock Award Agreement • November 2nd, 2023 • PENN Entertainment, Inc. • Hotels & motels • Pennsylvania

This Award is subject to the terms and conditions of the PENN Entertainment, Inc. 2022 Long Term Incentive Compensation Plan, as amended from time to time (the “Plan”), which has been made available to you, and any rules, and regulations established by the Compensation Committee of the Board of Directors of the Company (the “Committee”) or its delegate. Words used herein with initial capitalized letters that are not defined in this Award are defined in the Plan.

PENN ENTERTAINMENT, INC. PERFORMANCE UNIT AWARD AGREEMENT (Stock-Settled)
Performance Unit Award Agreement • November 2nd, 2023 • PENN Entertainment, Inc. • Hotels & motels • Pennsylvania

This Award is subject to the terms and conditions of the PENN Entertainment, Inc. 2022 Long Term Incentive Compensation Plan, as amended from time to time (the “Plan”), which has been made available to you, and any rules, and regulations established by the Compensation Committee of the Board of Directors of the Company (the “Committee”) or its delegate. Words used herein with initial capitalized letters that are not defined in this Award are defined in the Plan.

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