Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed, to help mitigate the impact of the COVID-19 pandemic, Penn National Gaming, Inc. (the "Company") entered into amendments to the employment agreements with its executive officers to reduce the base salaries of such officers effective April 1, 2020 as follows: Jay Snowden, the Company's President and Chief Executive Officer's base salary was reduced by 25%; David Williams, the Company's Executive Vice President and Chief Financial Officer's base salary was reduced by 20%; and Carl Sottosanti, the Company's Executive Vice President, General Counsel and Secretary's base salary was reduced by 20%. As a result of virtually all the Company's properties being open for several months and a substantially improved liquidity position, on October 1, 2020, the Company entered into amendments to the employment agreements with the executive officers to restore the salaries effective as of October 1, 2020.

The above summary of the amendments to the employment agreements is qualified by reference to the amendments, copies of which are attached hereto as Exhibit 10.1, Exhibit 10.2 and Exhibit 10.3 and are incorporated herein by reference.




Item 9.01    Financial Statements and Exhibits.



(d) Exhibits.



Exhibit No.                             Description of Exhibit

  10.1            Second Amendment to Executive Agreement, dated October 1, 2020, by
                and between Penn National Gaming, Inc. and Jay A. Snowden
  10.2            Second Amendment to Executive Agreement, dated October 1, 2020, by
                and between Penn National Gaming, Inc. and David Williams
  10.3            Second Amendment to Executive Agreement, dated October 1, 2020, by
                and between Penn National Gaming, Inc. and Carl Sottosanti
104             Cover Page Interactive Data File (embedded within the Inline XBRL
                document)




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