Purging Distribution. In connection with the Purging Distribution, GLPI Stock Appreciation Rights (whether held by a Penn Employee or a GLPI Employee) shall be adjusted in a manner that preserves both the intrinsic value of the GLPI Stock Appreciation Rights and the ratio immediately prior to the Purging Distribution between the trading price of the GLPI Common Stock and the per share strike price applicable to the GLPI Stock Appreciation Right.
Appears in 2 contracts
Sources: Employee Matters Agreement (Gaming & Leisure Properties, Inc.), Employee Matters Agreement (Gaming & Leisure Properties, Inc.)