Document:

EXHIBIT 10.5

    

    

    Directors' Compensation

    

    

    
      All non-employee directors of The Old Point National Bank of Phoebus (the Bank) and Old Point Trust & Financial Services, N.A. (the Trust Company)
        receive $600 and $350, respectively, for each board meeting they attend. The non-employee directors on the Peninsula Regional Board and Southside Regional Board receive $150 for each Regional Board meeting they attend. The non-employee directors of
        the Bank and Trust Company receive $200 for each committee meeting they attend except for the Bank's Investment Committeemeetings, for which members receive $150 for attendance, and the Bank's Directors Loan Committee, Compensation and Benefits
        Committee, Nominating and Corporate Governance Committee and Audit Committee meetings, for which members receive $300 for attendance.

      

      

      In addition, non-employee directors of the Bank and Trust Company receive an annual retainer fee of $12,000 and $4,000, respectively.  The
          non-employee directors on the Peninsula Regional Board and Southside Regional Board each receive an annual retainer of $1,000. In addition, the Chairman of the Audit Committee receives an additional $2,000 annual retainer, the Chairman of the
          Trust Company Board receives an additional $2,000 annual retainer, the Lead Director of the Bank Board receives an additional $5,000 annual retainer,  the Chairman of the Directors Loan Committee receives an additional $2,000 annual retainer and
          the Chairman of the Compensation and Benefits Committee receives an additional $3,000 retainer.

      

      

      All directors of Old Point Financial Corporation (the Company) have been elected as directors of the Bank, but there is no assurance that this
          practice will continue. However, not all Company directors serve as directors of the Trust Company. There are no additional fees paid for being a Company director.

       

      The Company reimburses travel, lodging and meal expense for all directors living outside of Virginia to attend board and committee meetings.
          The Company also pays for all directors and their spouses to attend regular director seminars.

      

      

      Non-employee directors are eligible to receive equity compensation awards under the Company’s 2016
          Incentive Stock Plan.Exhibit

EXHIBIT 10.31
By Email and Overnight Delivery

December 4, 2018

Mr. Donald H. Foley

Re: PAR Technology Corporation

Don:

This will summarize the terms of our mutual agreement concerning your decision to terminate your employment with PAR Technology Corporation (the “Company”) and resign as Chief Executive Officer and President of the Company and as President of ParTech, Inc. and certain other affiliated entities effective end of business today, December 4, 2018. 

By way of background, you have informed the Company of your decision to terminate your employment with the Company and to resign as its CEO and President and as President of certain of its affiliated entities effective end of business today, December 4, 2018 On such date you also resigned as a Director of the Company and from all other offices and/or positions held by you at or with the Company or any of its affiliated entities.  . You agreed, in connection with your resignation, to provide the Company with an effective general release in the form attached to this Letter as Annex A (the “Release”) in consideration of (“Separation Payments”):

(a)    the Company’s agreement to pay you your unpaid base salary for the fiscal year ending December 31, 2018 (as set forth in your employment offer letter dated April 11, 2018, effective April 12, 2018, as amended August 7, 2018), in accordance with the Company’s normal payroll cycle; 

(b)    the Company’s agreement to pay you, to the extent earned, your short-term incentive bonus for the fiscal year ending December 31, 2018; and

(c)    the Company’s amendment of the Grant Notice - Option Award and Option Award Agreement (collectively, the “Option Agreement”) - delivered in August 2018, reflective of an August 13, 2018 grant of a non-qualified stock option for 7,333 shares of the Company’s common stock (the “Option”) - to: accelerate the vesting of 33.33% of the shares subject to the Option to December 4, 2018. Such amendment in the form attached to this Letter as Annex B.

Your Release will be deemed “effective” upon the expiration of the Revocation Period (as that term is defined in Section 16 of the Release); provided you do not exercise your right to revoke your Release during the Revocation Period. In the event you do revoke your Release, the above consideration shall terminate. Whether or not you sign the Release:
    
Vacation.  You will be paid your earned, unused vacation (if any). 

Medical, Dental and/or Vision Insurance.  Your medical, dental and/or vision insurance will continue through December 31, 2018. You will be offered the opportunity to elect continuation coverage under the Company’s group medical plan(s) (“COBRA coverage”).  The existence and duration of your rights and/or the COBRA rights of any of your eligible dependents will be determined in accordance with Section 4980B of the Internal Revenue Code. You will separately receive a COBRA coverage notice from Lifetime Benefit Solutions, which will include a COBRA election form. 
    
Life Insurance.  Group Life insurance coverage with The Hartford Life Insurance Company will cease on December 4, 2018. You have 31 days after your group life coverage ends to convert to a personal policy. If you choose to convert to a personal policy within this 31-day period, The Hartford will not require proof of insurability. The form for exercising your conversion rights is enclosed.

Disability Insurance. Disability Insurance coverage will cease on December 4, 2018.
    
Retirement Program. Information regarding your distribution rights with respect to your vested benefits under the PAR Retirement Plan will be sent to you from the Retirement Plan Administrator.  

All payments made to you under this Letter and/or the Release will have all applicable federal, state, and/or local tax withholding, F.I.C.A., and any other applicable deductions or other taxes withheld or subtracted therefrom as required by law. To the extent that there may be tax consequences related to such payments, you are solely responsible.

Separately, and in addition to the Release and the consideration paid therefore, the Company and you will enter into a consulting services agreement in substantially the form attached to this Letter as Annex C (the “Consulting Agreement”). In consideration for the consulting services provided by you under the Consulting Agreement, you will continue as a “Participant” under the Grant Notice - Restricted Stock Award and Restricted Stock Award Agreement delivered to you in August 2018, reflective of an August 13, 2018 grant date of 5,055 shares of restricted stock, as amended to: change the Vesting Date of the 33.33% performance-vesting shares of Restricted Stock linked to the Performance Year ending December 31, 2018, to December 31, 2018; and (b) cancel the performance-vesting shares linked to the Performance Years ending December 31, 2019 and December 31, 2020. Such amendment in the form attached to this Letter as Annex D. 

Except as expressly amended by the Release, you acknowledge and agree that all of the terms and provisions of the Non-Disclosure; Non-Solicitation Agreement dated April 11, 2018 (the “NDA”) remain in full force and effect. A copy of the NDA is attached to this Letter.

Please contact me if you have any questions, including about this Letter or the Release.
PAR Technology Corporation

/s/Darla Haas                                                  
Darla Haas, Chief Human Resources Officer
        

Acknowledged and agreed this   4  day of December 2018: /s/ Donald H. Foley                                    
Donald H. FoleyExhibit

EXHIBIT 10.32
Amendment
Grant Notice - Option Award and
Option Award Agreement

This Amendment is dated and effective December 4, 2018. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Agreement (as herein defined).

The Grant Notice - Option Award and Option Award Agreement delivered to Participant -  Donald H. Foley, in August 2018, reflective of an August 13, 2018 grant date (the “Agreement”) of a non-qualified stock option (the “Option”) for 7,333 shares of the Company’s common stock  is amended as follows: the August 13, 2019 Vesting Date linked to the vesting of 33.33% of the Shares subject to the Option shall be December 4, 2018.

This Amendment may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

The terms and provisions of the Agreement as amended hereby are in full force and effect, and all other terms and provisions of the Agreement shall remain unchanged and in full force and effect.

This Amendment is entered into by the Company and the Participant in consideration of the Participant’s fully executed and effective Release, as contemplated by the letter agreement between the Company and the Participant dated on even date hereof. 

Acknowledged and agreed.

PAR Technology Corporation                             Participant

By: /s/ Darla Haas                         /s/ Donald H. Foley
Donald H. Foley
Name/Title: Chief Human Resources OfficerExhibit

EXHIBIT 10.33
Amendment
Grant Notice - Restricted Stock Award and 
Restricted Stock Award Agreement

This Amendment is dated December 4, 2018. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Agreement (as herein defined).  

The Grant Notice - Restricted Stock Award and Restricted Stock Award Agreement delivered to Participant -  Donald H. Foley, in August 2018, reflective of an August 13, 2018 grant date (the “Agreement”) of 5,055 shares of restricted stock (the “Restricted Stock”), 1,944 shares of time-vesting Restricted Stock (the “time-vesting Restricted Stock”) and 3,111 shares of performance-vesting Restricted Stock (the “performance-vesting Restricted Stock) is amended as follows:  Contrary provisions in the Agreement notwithstanding, (a) the “Vesting Date” with respect to the 33.33% performance-vesting shares of Restricted Stock linked to the Performance Year ending December 31, 2018 shall be December 31, 2018, and the Participant shall be entitled to vest in such number of performance-vesting shares of Restricted Stock based on the Committee’s determination as to the achievement of the Performance Target for the 2018 Performance Year and as determined by reference to the formula set forth in the Agreement applicable thereto (footnote (2) to the Grant-Notice Vesting Schedule), and (b) the performance-vesting shares linked to the Performance Years ending December 31, 2019 and December 31, 2020 are cancelled. 

This Amendment may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement. In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

The terms and provisions of the Agreement as amended hereby are in full force and effect, and all other terms and provisions of the Agreement shall remain unchanged and in full force and effect.

This Amendment is entered into by the Company and the Participant in consideration of the Consulting Services Agreement between the Company and the Participant to be effective December 5, 2018. 

Acknowledged and agreed.

PAR Technology Corporation                Participant:

By: /s/ Darla Haas                                              /s/ Donald H. Foley             
Donald H. Foley
Name/Title: Chief Human Resources Officer

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