Document:

Exhibit

Exhibit 10.20

Par Technology Corporation
8383 Seneca Turnpike
New Hartford, NY 13492
P 800.448.6505
www.partech.com
By Hand Delivery

April 12, 2017 

Ms. Karen Sammon
c/o PAR Technology Corporation
8383 Seneca Turnpike
New Hartford, New York 13492

            Re:       Employment Offer Letter; Amendment

Dear Karen,

This will confirm our mutual agreement that the section titled “Position” of your Employment Offer Letter dated November 16, 2015 (the “Offer Letter”) be, and hereby is, amended to read in its entirety as follows:

Position  
Effective April 12, 2017 (the “Effective Date”) you will have the title of Chief of Staff of PAR Technology Corporation (“PTC”), reporting to the Chief Executive Officer of PTC. 

Your position will be located at PTC's corporate headquarters in New Hartford, New York. You will devote your full time, energy, business judgment, skills, and best efforts to the performance of your duties with PTC, provided that you will not be required to divest your ownership interest in Sammon and Sammon, LLC, d/b/a Paragon Racquet Club, or otherwise manage your passive personal investments. You will, however, be expected to comply with and be bound by PTC’s operating policies, procedures, and practices and, subject to the forgoing, you may not render services to any other business without prior approval of the Board of Directors, nor engage or participate, directly or indirectly, in any business that is competitive in any manner with the businesses of PTC. 

Annual Leave and Personal Time Off  
Annual Leave (i.e., vacation) will be accrued at the rate of 13.33 hours per month, yielding four weeks Annual Leave per fiscal year. In addition, you will receive four Personal Time Off days 

per fiscal year. Unused Personal Time Off and Annual Leave may not be carried over to succeeding years.   

Except as amended hereby, all other terms and provisions of the Offer Letter remain unchanged and in full force and effect. 

Your offer letter dated March 21, 2013, pursuant to which you were named President of ParTech, Inc. shall be terminated as of the date you Accepted and Agreed below.

Sincerely, 
                     /s/ Paul Eurek                 
Paul Eurek, Chairman, Compensation Committee 
                                                                             By Order of the Board of Directors
        
Accepted and Agreed to: 
/s/ Karen Sammon         
Karen Sammon
Dated: 4/12/17Exhibit

..

Exhibit 10.24
WAIVER

This Waiver, dated as of March 14, 2018 ("Waiver"), is by and among PAR TECHNOLOGY CORPORATION (the "Borrower"), and PARTECH, INC. ("Partech"), PAR GOVERNMENT SYSTEMS CORPORATION ("PAR Government"), ROME RESEARCH CORPORATION ("Rome Research"), AUSABLE SOLUTIONS, INC. ("Ausable"), and BRINK SOFTWARE, INC. ("Brink", and together with the Borrower, Partech, PAR Government, Rome Research, and Ausable, the "Loan Parties"), and JPMORGAN CHASE BANK, N.A. ("Lender").

RECITALS

A.The Loan Parties and Lender are parties to a Credit Agreement dated as of November 29, 2016 (as it may be amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement") (capitalized terms used in this Waiver which are not otherwise defined shall have the meanings given to those terms in the Credit Agreement.)

B.Section 6.12(b) of the Credit Agreement requires Borrower to maintain a Fixed Charge Coverage Ratio of no less than l.25 to 1.0 for the quarter ending March 31, 2017 and each quarter thereafter (to be tested without regard to the level of Borrower's Consolidated Indebtedness). Borrower did not meet the required Fixed Charge Coverage Ratio for the quarter ended December 31, 2017, in violation of Section 6. l 2(b) of the Credit Agreement.

C.Borrower has requested Lender to waive the Event of Default created by the failure to comply with Section 6.12(b) of the Credit Agreement as of December 31, 2017. Lender is willing to waive such Event of Default upon the terms and conditions set forth in this Waiver.

NOW, THEREFORE, in consideration of the promises and the mutual agreements contained herein, and in reliance upon the representations and warranties contained in the Loan Documents and subject to the terms and conditions herein set forth, the parties agree to the following:

1.    Waiver. Subject to the terms hereof, Lender waives the Event of Default arising out of Borrower's failure to comply with Section 6.12(b) of the Credit Agreement for the fiscal quarter ended December 31, 2017. The waiver set forth herein shall be effective only for the specific violation listed herein and Lender shall have no obligation to grant any waiver of the same or any other violation of the Credit Agreement thereafter. Furthermore, except as specifically set forth herein, nothing contained in this letter nor any communications between Lender and Borrower or any other Loan Party shall be deemed to constitute a waiver of nor shall waive any other violations that may exist, any violations or other defaults that may arise after the date specified above, or any of Lender's rights or remedies provided in the Credit  Agreement, the other documents related thereto, or applicable law. All such rights and remedies are hereby expressly reserved by Lender and remain in full force and effect.

487489.5

2.    Representations and Warranties. Borrower represents and warrants to Lender that the following statements are true, correct and complete:

(a)    Based on preliminary financial statements provided by Borrower to Lender, Borrower's Fixed Charge Coverage Ratio for the quarter ended December 31, 2017, calculated in the manner required by Section 6.l 2(b) of the Credit Agreement, was as set forth in the Preliminary Covenant Calculation Certificate received March 13, 2018.

(b)    Each of the representations and warranties made by the Loan Parties in the Loan Documents is true and correct on and as of the date of this Waiver.

(c)    After giving effect to this Waiver, no Default or Event of Default has occurred and is continuing.

(d)    Borrower has no defense, offset or counterclaim of any kind or nature against Lender with respect to the Obligations or any of the Loan Documents to which it is a party.

3.    Waiver Fee. In consideration of Lender's waiver of the default set forth herein, Borrower shall pay a waiver fee to Lender in the amount of Five Thousand and 00/100 Dollars ($5,000.00) ("Waiver Fee") and hereby authorizes Lender to pay the Waiver Fee by charging Borrower's account with Lender.

4.    Reaffirmation. Except as waived hereby, all of the terms, covenants, and conditions of the Loan Documents are ratified, reaffirmed, and confirmed by the Loan Parties and each of the Loan Parties acknowledges that the Loan Documents to which  it is a party remain in full force and effect in accordance with its terms.

5.    Counterparts. This Waiver may be executed in any number of counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same instrument. Delivery of an executed signature page to this Waiver by  facsimile transmission or scanned and electronically mailed shall be effective as delivery of a manually executed counterpart.

6.    Governing Law. This Waiver shall be governed by the laws of the State of New York (without regard to its conflicts oflaw provisions).

[Remainder of this page intentionally left blank.]

2

IN WlTNESS WHEREOF, the parties hereto have caused this Waiver to be duly executed by their respective authorized officers as of the day and year first above written.

Loan Parties:    PAR TECHNOLOGY CORPORATION

By:    Isl Bryan A. Menar Name: Bryan A. Menar Title:    CFO

PARTECH, INC.

By:    Isl Bryan A. Menar Name: Bryan A. Menar Title: Treasurer

PAR GOVERNMENT SYSTEMS CORPORATION

By:    Isl Bryan A. Menar Name: Bryan A. Menar Title: Treasurer

ROME RESEARCH CORPORATION

By:    Isl Bryan A. Menar Name: Bryan A. Menar Title: Treasurer

AUSABLE SOLUTIONS, INC.

By:    Isl Bryan A. Menar Name: Bryan A. Menar Title: Treasurer

BRINK SOFTWARE, INC.

By:    Isl Bryan A. Menar Name: Bryan A. Menar Title: Treasurer

Lender:    JPMORGAN CHASE BANK, N.A.

By:    Isl Jean Lamardo Name: Jean Lamardo Title:    Senior UnderwriterExhibit

Exhibit 10.27
By Hand Delivery

March 14, 2018
Par  Technology Corporation
8383 Seneca Turnpike New Hartford, NY 13492
P 800.448.6505
www.partech.com

Mr. Donald H. Foley 10919 Martingale Court Potomac, Maryland 20854

Re:    Offer Letter;Amendment
 
Dear Don,
Your Offer Letter dated April 12, 2017 is amended to provide that shares of restricted stock granted to you as payment of 25% of your STI award for 2017 (as described in your Offer Letter), shall vest 100% on April 11, 2018; provided, in the event of a Change of Control or your death, all unvested shares of restricted stock shall immediately vest.

Except as amended hereby, all other terms and provisions of your Offer Letter remain unchanged and in full force and effect.
        
Sincerely,
/s/ Cathy King          
Cathy A. King, Vice President
and General Counsel
Accepted and Agreed to:
/s/ Donald H. Foley           
Donald H. Foley
Dated: 3/14/18Exhibit

Exhibit 10.30

PAR Technology Corporation 2015 Equity Incentive Plan
GRANT NOTICE – RESTRICTED STOCK AWARD

PAR Technology Corporation (the “Company”), hereby grants as of the Grant Date to the Participant the number of restricted shares (the “Restricted Stock”) of the Company’s common stock, par value $0.02 (the “Common Stock”) specified below (the “Award”). The Award is granted pursuant to the PAR Technology Corporation 2015 Equity Incentive Plan (the “Plan”) and is subject to the terms and conditions of this Grant Notice, the Restricted Stock Award Agreement attached to this Grant Notice as Appendix A (the “Award Agreement”), and the Plan (each as amended from time to time). The Plan is incorporated into and forms a part of this Grant Notice and the Option Award Agreement. In the event of any conflict between the Grant Notice or the Award Agreement on the one hand and the Plan on the other hand, the terms of the Plan shall control.

	
		
	Name of the Participant:
	Donald H. Foley

	Grant Date:
	January 31, 2018

	Number of shares of Restricted Stock:
	3,919

	Vesting Schedule:
	

The shares of Restricted Stock shall vest in accordance with the following schedule, subject to the Participant’s continued employment or service with the Company or any of its subsidiaries or affiliates through the applicable Vesting Date:

Vesting Date   Number of shares of Restricted Stock Vested
January 31, 2018   1,202 Restricted Shares
February 28, 2018   1,086 Restricted Shares
March 31, 2018   1,202 Restricted Shares
April 11, 2018   429 Restricted Shares

	Change of Control (as defined in the Plan):
	As an exception to the Vesting Schedule, as of the effective date of a Change of Control all unvested shares of Restricted Stock as of such date shall vest.

	Death:
	As an exception to the Vesting Schedule, in the event the Participant’s employment or service with the Company or any of its subsidiaries or affiliates is terminated due to the Participant’s death, all unvested shares of Restricted Stock shall immediately vest.

By execution of this Grant Notice, the Participant acknowledges that he or she has received and read the Award Agreement, the Plan, and this Grant Notice, and agrees to be bound by the tenns and conditions of the Plan, the Award Agreement, and this Grant Notice. The Participant further acknowledges and agrees to accept as binding, conclusive and final all decisions or interpretations of the Committee upon any questions arising under the Plan, this Grant Notice, or the Award Agreement.
                        
/s/ Donald H. Foley   
Participant Signature
         PAR Technology Corporation
         By: /s/ Bryan Menar     
         Title: CFO                     

Appendix A
PAR Technology Corporation 2015 Equity Incentive Plan

RESTRICTED STOCK AWARD AGREEMENT
This Restricted Stock Award Agreement applies to the Award of Restricted Stock evidenced by the Grant Notice to which this Award Agreement is attached, is incorporated into and forms a part thereof.
Capitalized terms not specifically defined in this Award Agreement shall have the meanings specified in the Plan and the Grant Notice.

1.Award of Restricted Stock.

(a)    Award. PAR Technology Corporation (the “Company”) has granted to the Participant an Award of that number of shares of Restricted Stock (the “Shares”) specified in the Grant Notice.

(b)    Vesting Schedule. After the Grant Date, subject to termination or acceleration as provided in the Grant Notice, the Plan and this Award Agreement, the Shares shall vest in accordance with the Vesting Schedule set forth in the Grant Notice. There shall be no proportionate or partial vesting in the periods prior to the applicable Vesting Date and all vesting shall occur only on the appropriate Vesting Date if the Participant is then employed or providing services to the Company or to any of its subsidiaries or affiliates (“Affiliate” means collectively, the Company’s subsidiaries and affiliates). Shares of Restricted Stock that have vested are referred to herein as “vested Shares.” Shares of Restricted Stock that are not vested and remain subject to the Restrictions set forth and defined in Section 2(a) and Section 2(c) are referred to herein as “unvested Shares.”

(c)    Book Entry Form; Certificates. At the sole discretion of the Committee, the Shares will be issued in either: (i) uncertificated form, with the Shares recorded in the name of the Participant in the books and records of the Company’s transfer agent with such notations regarding the Restrictions and vesting requirements as the Committee shall deem appropriate, and upon vesting and satisfaction of the conditions set forth in Section 2(d), the Company shall remove such notations on any such vested Shares in accordance with Section 1(e); or (ii) certificated form pursuant to the terms of Section 1(d) and Section 1(e).

(d)    Escrow. The Secretary of the Company or such other escrow holder as the Committee may appoint shall retain physical custody of any certificates representing the Shares until the Restrictions lapse and the Shares become vested Shares; in such event, the Participant shall not retain physical custody of any certificates representing unvested Shares issued to the Participant. The Participant, by acceptance of the Award, shall be deemed to appoint, and does so appoint, the Company and each of its authorized representatives as the Participant’s attorney(s)-in-fact to affect any transfer of unvested forfeited Shares to the Company as may be required pursuant to the Plan or this Award Agreement and to execute such documents as the Company or such representatives deem necessary or advisable in connection with any such transfer.

(e)    Removal of Notations; Delivery of Certificates Upon Vesting. As soon as administratively practicable after vesting of any of the Shares pursuant to Section 1(b), the Company shall, as applicable, either remove the notations on the vested Shares issued in book entry form or deliver to the Participant a certificate or certificates evidencing the number of vested Shares (or, in either case, such lesser number of Shares as may be permitted pursuant to Section 8 of the Plan). The vested Shares so delivered shall no longer be subject to the Restrictions.

2.Restrictions.

(a)    Forfeiture. Notwithstanding anything to the contrary herein or in the Plan, and unless otherwise set forth in the Grant Notice, in the event the Participant’s employment or service is terminated for any reason, each unvested Share shall be automatically forfeited as of the effective date of such termination without payment of any consideration by the Company. For purposes of this Award Agreement, “Restrictions” shall mean the restrictions on sale or other transfer set forth in Section 2(c) and the exposure to forfeiture set forth in this Section 2(a).

(b)    Lapse of Restrictions. The Restrictions shall lapse as to the Shares on each applicable Vesting Date.

(c)    Unvested Shares Not Transferable. Except as otherwise expressly permitted in Section
7.a. of the Plan, until the Restrictions lapse (and the Shares become “vested Shares”), the Shares (including any shares of Common Stock of the Company received by the Participant with respect to the Shares as a result of stock dividends, stock splits or any other form of recapitalization) may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, by operation of law or otherwise (each of the forgoing individually or collectively, a “Transfer”).

(d)    Tax Withholding. As set forth in Section 8 of the Plan, the Company shall have the authority and the right to withhold or to require Participant to remit to the Company, an amount sufficient to satisfy all applicable federal, state, and local taxes required by law to be withheld with respect to any taxable event arising in connection with the Award. The Company shall not be obligated to deliver any new certificate representing vested Shares to Participant or enter such vested Shares in book entry form until the Participant shall have paid or otherwise made arrangements satisfactory to the Committee to pay all applicable federal, state, and local withholding taxes attributable to the taxable income of the Participant resulting from the vesting of the Award.

3.Rights as Stockholder; Dividends. The Participant shall have all voting rights as a stockholder of the Company with respect to the Shares as of the Grant Date. Notwithstanding the preceding sentence, the Participant shall be entitled to receive payment of any dividends declared and paid by the Company on its Common Stock on and after the Grant Date; provided that such dividends shall not be payable to the Participant with respect to any Shares unless and until the Restricted Stock with respect to which such dividends are payable become vested Shares (it being understood that no dividends will be paid with respect to Shares of Restricted Stock that do not vest).

4.General Provisions.

(a)    Section 83(b) Election. The Participant acknowledges that the Company has advised the Participant of the possibility of making an election under Section 83(b) of the Code with respect to the Award of the Shares and has recommended that the Participant consult a qualified tax advisor regarding the desirability of making such an election in light of the Participant’s individual circumstances. If the Participant makes an election under Section 83(b) of the Code (see Exhibit A), the Participant hereby agrees to deliver a copy of such election to the Company promptly after filing such election with the Internal Revenue Service.

(b)    Successors and Assigns. The Company may assign any of its rights under this Award Agreement to single or multiple assignees, and this Award Agreement shall inure to the benefit of the successors and assigns of the Company.

(c)    No Rights to Continued Employment or Service or to Award. Nothing in the Plan or in this Award Agreement shall confer on the Participant any right to employment or continued service with the Company, or interfere in any way with the right of the Company to terminate or change the terms of the Participant's employment or service at any time.

(d)    Market “Stand-Off” Agreement. In the event the Company proposes to offer for sale to the public any of its equity securities and the Participant is requested by the Company and any underwriter engaged by the Company in connection with such offering to sign an agreement restricting the sale or other transfer of the Shares or other securities of the Company, then the Participant will promptly sign such agreement and will not sell or otherwise transfer, whether in privately negotiated transactions or to the public in open market transactions or otherwise, any Shares or other securities of the Company held by the Participant during such period as is determined by the Company and the underwriter, not to exceed 180 days following the closing of the offering, plus such additional period of time as may be required to comply with Marketplace Rule 2711 of the National Association of Securities Dealers, Inc. or similar rules thereto (such period, the “Lock-Up Period”). Such agreement shall be in writing and in form and substance reasonably satisfactory to the Company and such underwriter and pursuant to customary and prevailing terms and conditions. Notwithstanding whether the Participant has signed such an agreement, the Company may impose stop-transfer instructions with respect to the Shares or other securities of the Company subject to the foregoing restrictions until the end of the Lock-Up Period. The market “stand-off” agreement established pursuant to this Section 8(d) shall survive termination or expiration of this Award Agreement.

(e)    Claw-Back of Performance Vesting Shares. The Shares which are subject to recovery under any law, government regulation or stock exchange listing requirement, will be subject to such deductions and claw-back as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or stock exchange listing requirement).

(f)    Injurious Conduct. If the Participant shall engage in Injurious Conduct as described in this Section 4(f), each unvested Share shall be automatically forfeited and the Award shall terminate as of such date and, the Committee may, in its sole discretion, require the Participant to return to the Company any vested Shares. If any vested Shares have been disposed of by the Participant, then the Company may require the Participant to pay to the Company the gross pre-tax proceeds received by the Participant on such disposition. For purposes of this Award Agreement, “Injurious Conduct” means: (i) “for Cause” conduct; and (ii) during the Participant’s employment or service with the Company or an Affiliate and thereafter, the Participant breaches any written confidentiality, non-solicitation or non-competition covenant with the Company or an Affiliate.

(g)    Governing Law and Construction. This Award Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions.

(h)    Spousal Consent. The Participant’s spouse has signed the Consent of Spouse attached to this Award Agreement as Exhibit B.

(i)    Notices. Any notice to be given under the terms of this Award Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company's principal office, and any notice to be given to the Participant shall be addressed to the Participant at the Participant's last address reflected on the Company's records. By a notice given pursuant to this Section 4(h), either party may hereafter designate a different address for notices to be 

given to that party. Any notice shall be deemed to have been adequately given if delivered in person or if given by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service.

(j)    Severability. Wherever possible, each provision of this Award Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision hereof shall be prohibited by or invalid under any such law, that provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating or nullifying the remainder of that provision or any other provisions of this Award Agreement.

EXHIBIT A
83(b) Election Form

The undersigned Taxpayer hereby elects under Section 83(b) of the Internal Revenue Code of 1986, as amended, and Section 1.83-2(a) of the Income Tax Regulations, to include in his/her gross income the excess of the Fair Market Value of the property described below over the amount paid therefor by the Taxpayer. In compliance with Reg. § 1.83-2(e) the Taxpayer provides the following information:

		
	1.
	The Taxpayer’s name, address and taxpayer identification number are as follows: Name:

Address:
Taxpayer identification number:

		
	2.
	The  property with respect to  which this  election is  being made is:     shares of common stock of PAR Technology Corporation, a Delaware corporation (the “Company”), $0.02 par value per share (the “Shares”).

		
	3.
	The date of the transfer of the Shares is     , 20  . This election is made for the taxable year of the Taxpayer ending December 31, 20 .

		
	4.
	The nature of the restrictions to which the Shares are subject is as follows: The Shares may be forfeited if Taxpayer’s continuous service with the Company terminates.

		
	5.
	The Fair Market Value of such Shares at the time of transfer to the Taxpayer, determined without regard to any lapse restrictions as defined in Reg. § 1.83-3(i), is     per share.

		
	6.
	The amount paid for the Shares is $0 per share.

		
	7.
	A copy of this election has been furnished by personal delivery to the Company.

The date of this election is     , 20 .

Taxpayer

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