SEC Contract Filing

Filing Date: 2017-04-17

Document Content:
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<TYPE>EX-10.22
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<FILENAME>ex10_22.htm
<DESCRIPTION>EXHIBIT 10.22
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<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">Exhibit 10.22</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">November 14<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">,</font> 2016</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Mr. Bryan Menar</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">4531 Pauli Drive</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Manlius, NY 13104</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">Dear Bryan;</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">On behalf of myself and the Board of Directors of PAR Technology Corporation (&#8220;PAR&#8221; or &#8220;Company&#8221;), I am pleased to offer you to the position of Vice President and Chief Financial Officer of PAR Technology Corporation. Upon execution by you</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> this letter will constitute your employment offer from PAR regarding your service beginning January 3</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">2017, the date at which your employment will be effective (the &#8220;Start Date&#8221;). This offer and your employment relationship are subject to the terms and conditions of this letter set forth below.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Position</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">You will join the Company as the Vice President and Chief Financial Officer of&#160; PAR Technology Corporation, reporting to the President and Chief Executive Officer. Your position will be located at PAR&#8217;s corporate headquarters in New Hartford, New York.&#160; You will be expected to devote your full working time and attention exclusively to the business and interests of PAR and to comply with and be bound by PAR&#8217;s operating policies</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">procedures and practices. 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 PAR.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Annual Base Salary</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">As of the Start Date, you will be compensated at an annualized salary of $25</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">0</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">,</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">000</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> (&#8220;Annual </font>Base Salary&#8221;), subject to applicable payroll deductions and such federal, state and local taxes <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">and other withholdings as are required by law. PAR will also offer you a signing bonus in the amount of $50,00</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">0</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">00</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'"> to be paid within thirty days of you joining the organization. The Annual Base Salary and Signing Bonus shall be paid in accordance with PAR&#8217;s standard payroll practices.</font></div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Annual Cash Bonus</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'; TEXT-ALIGN: justify">While employed hereunder, you will be eligible to receive an &#8220;Annual Cash Bonus&#8221; in <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman'">accordance with the terms of PAR&#8217;s Incentive Compensation Plan (&#8220;ICP&#8221;) and shall be based upon performance against financial targets associated with the Annual Operating Plan (&#8220;AOP&#8221;) and specific business objectives determined by the Board of Direct