Document:

Exhibit

EXHIBIT 10.34

CONSULTING SERVICES AGREEMENT
The following confirms the agreement (this “Agreement”) between Donald H. Foley (the “Consultant”) and PAR Technology Corporation, a Delaware corporation (the “Company”), dated December 4, 2018, to be effective as of December 5, 2018 (the “Effective Date”), with respect to the provision of consulting services.
1.    Services.  (a)    The Consultant agrees to render consulting services as described in this Section (the “Services”) to the Company and its subsidiaries. The Services will include such general business counsel and guidance as may from time to time be reasonably requested by management of the Company and/or its subsidiaries during the term of this Agreement, including advice and consultation regarding the general operations of the business of the Company and its subsidiaries and the transition associated with the Consultant’s recent departure as Chief Executive Officer and President of the Company and as President of ParTech, Inc., a wholly-owned subsidiary of the Company. 
(b)    The parties understand and agree that the Consultant will have the sole discretion to determine the method and means, of performing the Services, and that the Company has no right to, and will not, control or determine the method or means by which the Consultant performs the Services; provided that the Consultant shall comply with all reasonable instructions given to the Consultant by the requesting management team member(s) in relation to the Services and shall keep the Company informed of the Consultant’s activities under this Agreement.  
(c)    The Consultant agrees that he will not permit any of his other consulting activities to unreasonably interfere with the timely completion of the Services. The Consultant agrees to devote its best efforts and ability to the performance of the Services, and warrants that the Services shall be performed in a professional manner and shall be accomplished in compliance with all applicable laws, rules, and regulations.     
2.    Term of Agreement.  This Agreement shall commence as of the Effective Date and shall continue through and including June 30, 2019, unless earlier terminated by the Company or the Consultant as provided herein (the “Term”). This Agreement may be terminated by the Company immediately upon notice to the Consultant if the Consultant is unable or unwilling to provide the Services.  In addition, the failure by the Consultant or the Company to comply with any of the other obligations and conditions contained in this Agreement shall entitle the other party to give notice requiring the defaulting party to cure such default.  If such default is not cured within ten (10) days after receipt of such notice, the notifying party shall be entitled, without prejudice to any of its other rights under this Agreement, to immediately terminate this Agreement upon written notice.  
3.    Compensation.  In full consideration of the Consultant providing the Services during the Term, the Consultant will continue as a “Participant” under the Grant Notice - Restricted Stock Award and Restricted Stock Award Agreement delivered to the Consultant in August 2018, reflective of an August 13, 2018 grant date of 5,055 shares of restricted stock, as amended and attached to this Agreement as Annex A. 
4.    Travel and Other Expenses.  The Company shall reimburse the Consultant monthly for actual reasonable out-of-pocket expenses incurred by the Consultant in the performance of the Services.  Receipts for such out-of-pocket expenses are required.  The Consultant shall submit to the Company an invoice covering all reimbursable expenses within 60 days after each month-end.  The Company will pay all proper charges reflected in such invoices within 30 days following receipt of the invoice.  
5.    Independent Contractor Status. It is the express intention of the parties to this Agreement that the Consultant is an independent contractor and is classified by the Company as such for all employee benefit purposes, and the parties expressly agree that the Consultant is not an employee, agent, joint venturer, or partner of the Company.  Nothing in this Agreement shall be interpreted or construed as creating or establishing an employment relationship between the Company and the Consultant.  
6.    Representations; Warranties. The Consultant has not entered into, and the Consultant agrees not to enter into, any agreement either written or oral that conflicts or might conflict with the Consultant’s performances of the Services under this Agreement. The Consultant shall not use in his performance of the Services or otherwise disclose to the Company any trade secrets or confidential or proprietary information of any other person, including any of Consultant’s other clients. 

7.    Obligations of the Consultant. (a) The Consultant is solely responsible for all taxes, withholdings, and other similar statutory obligations with respect to Consultant’s Services hereunder, and the Consultant agrees to defend, indemnify, 

and hold Company and its affiliates harmless from any and all claims made by any entity on account of an alleged failure by the Consultant to satisfy any such tax or withholding obligations.  

(b)    Since the Consultant is not an employee of Company, the Consultant agrees and understands that the Consultant is not entitled to any of the benefits which Company may make available to its employees, such as group insurance, workers’ compensation, disability insurance, vacation, sick pay, profit-sharing, equity awards, or retirement benefits.  In addition, the Consultant shall be responsible for providing, at his expense and in his name, disability, workers’ compensation, or other insurance as well as any and all licenses and permits usual or necessary for conducting the Services.

(c)    Any and all rights, title and interests in any work developed, created or delivered (including any intellectual property and all rights therein) by the Consultant in the performance of the Services, including, all data/content, schema, format, documentation and other materials developed, created or delivered under this Agreement (collectively, the “Deliverables”), shall be the sole and exclusive property of the Company and the Consultant hereby assigns and transfers to the Company all of the Consultant’s rights, title and interests in and to any and all such Deliverables (including any intellectual property and all rights therein), and the Consultant will execute and deliver documents reasonably requested by the Company from time to time, even after termination of this Agreement, to evidence, effect, protect or enforce Company’s rights in the Deliverables.

(d)    Except with the Company’s full knowledge and prior written consent, the Consultant shall not disclose any confidential or proprietary information (oral, written or in any other form) of the Company or of any of its affiliates (“Confidential Information”) to any person or entity outside of the Company and the Consultant shall not use or permit the use of any Confidential Information by or for the benefit of any person or entity other than the Company. Confidential Information includes (without limitation) information about Company’s and/or its affiliates’ corporate plans, strategies and prospects, financial information, product plans and developments, marketing strategies, employee, customer, vendor and supplier information, sales promotions and plans, advertising plans and policies, pricing policies and strategies and other information (whether or not specifically labeled or designated), such Confidential Information may also include information of third-parties.

(e)    The Consultant shall not at any time make or encourage others to make any remarks or comments (whether in writing or oral) about the Company or its affiliates, or any one of them, to any third party (including vendors, suppliers, customers, business associates, the media, press and/or publications), which remarks or comments reasonably could be construed to be derogatory or disparaging or which could be anticipated to be damaging or injurious to the reputation or goodwill of the Company and/or its affiliates. The Consultant understands and agrees that remarks or comments made on the Internet, on Facebook, Instagram, Twitter and on any other social media site, blog, or other electronic medium of any kind are subject to the provisions of this Section in the same manner as remarks or comments made in any other forum.

(f)    During the Term, and for a period of six (6) months thereafter, the Consultant will not, directly or indirectly, in any manner, for himself, his own business or for any other person or business (i) solicit, recruit (or attempt to recruit), discuss with or advise, influence, induce or otherwise encourage in any way, any employee of the Company or of any of its affiliates to terminate such employee’s relationship with the Company or with any of its affiliates for any reason, or (to the extent permitted by applicable law) hire (or attempt to hire) any such employee; (ii) solicit, hire or recruit or attempt to hire or recruit any person who was an employee of the Company or of any of its affiliates within the immediately preceding six (6) months of any such solicitation, employment, retention, or recruitment; and/or (iii) solicit, assist, discuss with or advise, influence, induce or otherwise encourage in any way, any customer, vendor, supplier or business associate or prospective customer, vendor, supplier or business associate of the Company or of any of its affiliates to cancel, terminate or alter its business relationship with the Company or with any of its affiliates. For purposes of subsection (iii) above, reference to “any customer, vendor, supplier or business associate” means any one of the foregoing that are or were customers, vendors, suppliers or business associates of the Company or of any of its affiliates as of the effective date of termination of this Agreement, and reference to “prospective customer”, vendor, supplier or business associate” means any one of the foregoing that the Consultant knew of as of the effective date of termination of this Agreement.

(g)    Upon termination of this Agreement, the Consultant shall: (i) promptly return to the Company all property belonging to the Company and/or any of its affiliates that is within the Consultant’s possession, access or control, including all Confidential Information, documents (in tangible or non-tangible form), files, passwords, and security devices or tokens that permit access to the Company’s and/or to any of its affiliates’ facilities or systems; and (ii) not make or keep copies of any of the items/things referenced in clause (i), in whole or in part; this prohibition includes downloading, transferring, and/or retaining any electronic files or portions thereof.

8.    Severability.  If any provision of this Agreement otherwise is deemed to be invalid or unenforceable or is prohibited by the laws of the state or jurisdiction where it is to be performed, this Agreement shall be considered divisible as to 

such provision and such provision shall be inoperative in such state or jurisdiction and shall not be part of the consideration moving from either of the parties to the other.  The remaining provisions of this Agreement shall be valid and binding and of like effect as though such provision were not included.

9.    Assignment.  This Agreement shall not be assignable by either the Consultant or the Company without the express written consent of the other party; provided, that, as used in this Agreement, the term Company shall include any successors to the business and/or assets of the Company.

10.    Counterparts.  This Agreement 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.

11.    Governing Law.  The Consultant agrees that any dispute in the meaning, effect, or validity of this Agreement shall be resolved in accordance with the laws of the State of New York without regard to the conflict of laws provisions thereof. 

12.    Defend Trade Secrets Act.  The Consultant’s obligations under this Agreement are subject to the Defend Trade Secrets Act of 2016; and, in accordance with that Act the Consultant will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Accordingly, the Consultant has the right to disclose in confidence trade secrets to federal, state, and local government officials, or to an attorney, for the sole purpose of reporting or investigating a suspected violation of law. The Consultant also has the right to disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under seal and protected from public disclosure.

13.    Entire Understanding.  This Agreement contains the entire understanding of the parties regarding its subject matter and supercedes and replaces all prior understandings and agreements whether written or oral relating to the same.  This Agreement can only be modified by a subsequent written agreement executed by the Consultant and the Company.

14.    Notices.  All notices, requests, permissions, waivers, and other communications hereunder shall be in writing and shall be served on the parties at the addresses set forth below.  Any such notices shall be either (a) sent by a nationally recognized overnight courier, in which case notice shall be deemed delivered when delivery is made according to the records of such courier, (b) sent by facsimile, in which case notice shall be deemed delivered upon receipt of confirmation of transmission of such facsimile notice, or (c) sent by personal delivery, in which case notice shall be deemed delivered upon receipt.  Any notice by facsimile or personal delivery and delivered after 5:00 p.m., shall be deemed received on the next day upon which commercial banks and governmental agencies are open for business in the subject city (a “Local Business Day”).  A party’s address may be changed by written notice to the other parties pursuant to this Section; provided, however, that no notice of a change of address shall be affected until actual receipt of such notice.  Copies of notices are for information purposes only (and shall nto constitute notice to the party(ies) to whom notice is intended to be delivered), and a failure to give or receive copies of any notice shall not be deemed a failure to give notice. To Company: Attention: Chief Executive Officer, 8383 Seneca Turnpike, New Hartford, New York 13413; email: c/o tiffani_temple@partech.com with a copy to: Office of General Counsel, 8383 Seneca Turnpike, New York 13413; email cathy_king@partech.com. To the Consultant at the address below the Consultant’s name on the signature page hereto.  

[Signature Page to this Consulting Services Agreement Immediately Follows]

Company:
PAR TECHNOLOGY CORPORATION

/s/ Darla Haas                                       
By:  Darla Haas
Its:  Chief Human Resources Officer

Consultant:
Donald H. Foley

/s/ Donald H. Foley                          
                    
                

[Signature Page to Consulting Services Agreement]Exhibit

EXHIBIT 10.35

By Email

 

December 4, 2018 

Mr. Savneet Singh

Re:    Offer of Employment (“Offer Letter”)

Dear Savneet,

We are pleased to extend you an offer to serve as Interim Chief Executive Officer and President (“Interim CEO”) of PAR Technology Corporation (the “Company”), reporting directly to the Company’s Board of Directors (“Board”).

As Interim CEO  of the Company you will perform those duties and shall have such authority, duties, and responsibilities normally consistent and incident to the offices of Chief Executive Officer and President, and you shall perform such additional duties and shall have such additional authority and responsibilities as the Board may prescribe. Your principal office will be located in New York, New York, provided that you understand and agree that you will be required to travel to properly fulfill your employment duties and responsibilities.  

The term of your employment with the Company will commence as of the Effective Date and continue through June 30, 2019, and will, thereafter, continue for consecutive fiscal quarters unless terminated by you or the Company.
You will devote all of your business time, energy, business judgment, knowledge and skill and your best efforts to the performance of your duties with the Company, provided that the foregoing shall not prevent you from (a) continuing to serve as a director of CoVenture, LLC, Blockchain Power Trust (TSXV:BPWR.UN; TEP.DB), Produce Pay, Inc. and EcoLogic Solutions, Inc. and, with the prior written approval of the Board, serving on the boards of directors (and board committees) of non-profit organizations and other for profit companies, (b) participating in charitable, civic, educational, professional, community or industry affairs, and (c) managing your passive personal investments, so long as, in the reasonable discretion and good faith of the Board, such activities, individually or in the aggregate, do not interfere or conflict with your duties and responsibilities to the Company or create a potential business or fiduciary conflict.

You will continue to serve as a Director of the Company, however, as an executive officer of the Company, from and after the Effective Date, you will not be eligible to be compensated as a non-employee director; provided that the 5,334 shares of restricted stock granted to you on June 8, 2018 shall continue to vest in accordance with the terms of the applicable grant-notice - restricted stock award and restricted stock award agreement.  Your execution of this Offer Letter shall constitute your resignation from the Compensation Committee and the Nominating and Corporate Governance Committee of the Board, effective as of the Effective Date. 

Your initial base salary will be $18,211.54 bi-weekly, equivalent to an annualized base salary of $473,500, paid in accordance with the Company’s regular payroll practices, for your full-time efforts, of at least 40 hours per week. Your base salary will be subject to annual review by the Board (or Committee thereof) and may be adjusted from time to time in the Board's (or Committee’s) sole discretion.

Beginning with the fiscal year ending December 31, 2019, you will participate in the Company’s short-term incentive plan (“STI”) as in effect from time to time for executive officers (“STI”). You will have the opportunity to earn, on an annual basis, a cash bonus subject to the achievement of the Company’s performance goals for the applicable year, as established by the Company’s Board (or Committee thereof). Your annual STI bonus target amount for the fiscal year ending December 31, 2019 is 75% of your then base salary earned in such fiscal year. Annual STI bonus targets for subsequent fiscal years are subject to approval and adjustment by the Board (or Committee thereof). Any annual STI bonus earned will be paid in the fiscal year immediately following the fiscal year to which such annual STI bonus relates at the same time annual STI bonuses are paid to other senior executives of the Company. You must remain continuously employed with the Company through the date 

of the bonus payment for a fiscal year ended to receive such payment for that fiscal year; provided, in the event your employment is terminated by you for “good reason” (as described herein, including the Company’s right to cure) or the Company terminates your employment for reasons other than on account of (i) “for cause” (as defined in the PAR Technology Corporation 2015 Equity Incentive Plan (the “Plan”)), (ii) your inability to substantially perform your duties on account of a physical or mental injury, illness or impairment, or (iii) on account of a breach by you of the terms and conditions of this Offer Letter (including the terms of the Non-Disclosure; Non-Solicitation Agreement, attached to this Offer Letter as Appendix A, and which forms a part of this offer (the “NDA”)), you will be paid your annual STI bonus earned but unpaid with respect to the fiscal year during which such termination occurs, pro-rata through the effective date of termination or preceding the date of termination; such annual STI bonus to be paid at the same time annual bonuses are paid to other senior executives of the Company. All STI bonus payments, if any, are subject to the approval of the Board (or Committee therefor). 

For purposes of this Offer Letter, “good reason” means any of the following, which is not cured by the Company within 30 days following written notification from you to the Company as required below: (i) the required relocation of your primary work location (New York, New York); (ii) the diminution (other than temporarily while physically or mentally incapacitated or as required by applicable law) in your title, duties, authorities or responsibilities, excluding immaterial diminutions not taken in bad faith; or (iii) the Company's breach of its material obligations to you under this Offer Letter. You will provide the Company with a written notice detailing the specific circumstances alleged to constitute good reason within 30 days after you first know, or with the exercise of reasonable diligence would know, of the occurrence of such circumstances, and must actually terminate employment within 30 days following the expiration of the Company's cure period as set forth above if the Company has failed to substantially cure the alleged breach. Otherwise, any claim of such circumstances as "good reason" shall be deemed irrevocably waived by you.

On the third full trading day of the Company’s common stock on the New York Stock Exchange following the Company’s filing of its current report on Form 8-K announcing your appointment as Interim CEO, you will be granted (“Performance Bonus”) 5,000 restricted shares of the Company’s common stock (“Restricted Stock”) under the PAR Technology Corporation 2015 Equity Incentive Plan (“Plan”).  The shares of Restricted Stock that are the subject of the Performance Bonus shall vest on the earlier of: (a) the effective date of a Change of Control (as defined in the Plan) and (b)the closing share price of the Company’s common stock being at or above the Performance Threshold for at least 60 consecutive trading days on the NYSE, where the Performance Threshold is defined as 130% of the average closing price (a 30% premium) of the Company’s common stock in the immediate past 20 consecutive trading days prior to the Effective Date.

Subject to satisfaction of any applicable eligibility requirements, you will be eligible to participate in any employee benefit plan that the Company has adopted or may adopt, maintain, or contribute to for the benefit of its executive officers, which includes health insurance, LTD/ADD/life insurance, and 401(k). You will be reimbursed for travel and other expenses in accordance with the Company’s reimbursement policy, including reimbursement for the rent of an apartment or house in or near New Hartford, New York. You will be entitled to four (4) weeks of paid vacation per calendar year (accruing at the rate of 1-week per quarter) and paid holidays in accordance with the Company’s vacation policy. The Company reserves the right to amend, modify or terminate any of its benefit plans, policies, or programs at any time and for any reason.  

All forms of compensation paid to you as an employee shall be less all withholdings and deductions as required by law. All awards of equity shall be subject to the approval of the Board (or Committee thereof).

Your employment will be at will, and this Offer Letter does not represent any guarantee of employment for any period. If you wish to resign from your employment with the Company, we request not less than 30 days’ written notice.

The validity, interpretation, construction and performance of this Offer Letter, and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed, and interpreted in accordance with the laws of the State of New York, without giving effect to principles of conflicts of law.

This Offer Letter and those documents expressly referred to herein (including the NDA) embody the complete agreement and understanding between you and the Company with respect to the subject matter herein and supersede and preempt any prior understandings, agreements, or representations by and between you and the Company, written or oral, which may have related to the subject matter hereof in any way.

If you agree with the terms and conditions of this Offer, please evidence your agreement by signing the enclosed copy of this Offer Letter in the space indicated and return it to me, together with a fully executed NDA. Your signature will acknowledge that you have read and understand and agree to the terms and conditions of this Offer Letter. Your service as Interim CEO and President of the Company under the terms of this Offer Letter shall commence December 4, 2018.  

Feel free to contact me if you have questions or if you need any additional information. 

Sincerely, 

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

Accepted and Agreed to: 

/s/ Savneet Singh        
Savneet Singh
Dated: December 4, 2018

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}]]