AMENDMENT NUMBER 1
TO
PLEDGE AND SECURITY AGREEMENT

This AMENDMENT NUMBER 1 TO PLEDGE AND SECURITY AGREEMENT is entered into as of
June 6, 2011  by and between Par Technology Corporation, a Delaware corporation,
(the “Borrower”) and Partech, Inc., Par Spring-Miller Systems, Inc. Par
Government Systems Corporation, Rome Research Corporation, Par-Siva Corporation,
Ausable Solutions, Inc., Springer-Miller International, LLC and Par Logistics
Management Systems Corporation  (the “Loan Parties”, and, together with the
Borrower, the “Grantors”), and JPMorgan Chase Bank, N.A., in its capacity as
administrative agent (the “Administrative Agent”) for the lenders party to the
Credit Agreement referred to below.

RECITALS

A.           The Grantors, the Administrative Agent and the Lenders are parties
to a Pledge and Security Agreement dated as of June 16, 2008 (as it may be
amended, modified or restated from time to time, the “Security Agreement”)
pursuant to which the Grantors granted to the Administrative Agent a security
interest in the Collateral described therein to secure the Secured Obligations
defined in that certain under Credit Agreement dated as of June 16, 2008 among
the Grantors (including those Grantors who became a party thereto by executing a
Joinder Agreement), the Administrative Agent and the Lenders (as it may be
amended, modified or restated from time to time, the “Credit Agreement”).

B.           The Credit Agreement is being amended and restated by the parties
in its entirety pursuant to an Amended and Restated Credit Agreement dated as of
the date hereof.

C.           The Grantors and the Administrative Agent desire to amend the
Security Agreement to reflect that it secures the Secured Obligations under the
Amended and Restated Credit Agreement, to update certain Exhibits to the
Security Agreement, and to ratify and confirm the Security Agreement and the
liens granted thereby.

NOW, THEREFORE, in consideration of the promises and other good and valuable
consideration, the sufficiency and receipt of which are hereby acknowledged, the
Grantors and the Administrative Agent hereby agree as follows:

1.           Definitions.   All capitalized terms used in this Amendment which
are not otherwise defined herein shall have the respective meanings given to
those terms in the Security Agreement.

2.           Amendment of Security Agreement.

(a)           All references in the Security Agreement to the “Credit Agreement”
shall be deemed to refer to the Amended and Restated Credit Agreement dated as
of June __, 2011.

(b)           Exhibits A, B, D and E are replaced with the Exhibits A, B, D and
E attached to this Amendment.

3.           Representations and Warranties.   Grantors represent and warrant
that the following statements are true, correct and complete:

(a)           Each of the representations and warranties made by the Grantors in
the Security Agreement is true and correct as of the date of this Amendment.

(b)           No Default or Event of Default under the Security Agreement has
occurred or is continuing.

4.           Confirmation of Security Agreement.   Grantors hereby (a) consent
to the Credit Agreement, as amended and restated, (b) acknowledge that the
obligations of the Grantors under the Security Agreement, and the Liens created
thereby, are not impaired or affected by the amendment and restatement of the
Credit Agreement, and that the Security Agreement continues in full force and
effect, and (c) ratify and affirm the terms and provisions of the Security
Agreement and the Liens created thereby.  From and after the date of this
Amendment, all references in the Security Agreement to “this Agreement,” “this
Security Agreement”, “hereof,” “herein,” or similar terms, shall refer to the
Security Agreement as amended by this Amendment.

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IN WITNESS WHEREOF, the Grantors and the Administrative Agent have executed this
Amendment as of the date set forth above.

GRANTORS

PAR TECHNOLOGY CORPORATION

By:   _________________________                                                             
Name:  Ronald J. Casciano
      Title:   Treasurer

PARTECH, INC.

By:   _________________________                                                             
Name:  Ronald J. Casciano
      Title:   Treasurer

PAR SPRINGER-MILLER SYSTEMS, INC.

By:   _________________________                                                             
Name:  Ronald J. Casciano
      Title:   Treasurer

PAR GOVERNMENT SYSTEMS CORPORATION

By:   _________________________                                                             
Name:  Ronald J. Casciano
      Title:   Treasurer

ROME RESEARCH CORPORATION

By:   _________________________                                                             
Name:  Ronald J. Casciano
      Title:   Treasurer

PAR-SIVA CORPORATION

By:  _________________________                                                              
Name:  Ronald J. Casciano
      Title:   Treasurer

AUSABLE SOLUTIONS, INC.

By:   _________________________                                                             
Name:  Ronald J. Casciano
      Title:   Treasurer
 
 
 

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SPRINGER-MILLER INTERNATIONAL, LLC

By:  _________________________                                                              
Name:  Ronald J. Casciano
      Title:   Treasurer

PAR LOGISTICS MANAGEMENT SYSTEMS CORPORATION

By:  _________________________                                                              
Name:  Ronald J. Casciano
      Title:   Treasurer

ADMINISTRATIVE AGENT

JPMORGAN CHASE BANK, N.A.,
  as Administrative Agent

By:          _________________________                                                      
Name: Jean M. Lamardo
Title:   Underwriter III

 
 

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