PAR Technology Corporation Announces CEO Transition

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Savneet Singh Named Interim CEO and President

Dr. Donald H. Foley Steps Down as CEO and President

NEW HARTFORD, N.Y.–(BUSINESS WIRE)–PAR Technology Corporation (NYSE:PAR) (the “Company”) announced today
that Savneet Singh, a member of the Company’s Board of Directors since
April 2018, has been appointed Interim Chief Executive Officer (“CEO”)
and President of the Company, effective December 4, 2018. The Company
also announced that Dr. Donald H. Foley has stepped-down as CEO and
President, and as a director of the Company. The Board’s Nominating and
Corporate Governance Committee has initiated a search process to
identify a permanent CEO and has retained a leading executive search
firm to assist in its efforts.

Mr. Singh is a partner of CoVenture, LLC, a multi-asset manager with
funds in venture capital, direct lending, and crypto currency. He has
served as a partner of CoVenture since June 2018. From 2017 – 2018, Mr.
Singh served as the managing partner of Tera-Holdings, Inc., a holding
company of niche software businesses that he co-founded. In 2009, Mr.
Singh co-founded GBI, LLC (f/k/a Gold Bullion International, LLC (GBI)),
an electronic platform that allows investors to buy, trade and store
physical precious metals. During his tenure at GBI, from 2009 – 2017,
Mr. Singh served as GBI’s chief operating officer, its chief executive
officer, and its president. In 2018, Mr. Singh joined the board of
directors of Blockchain Power Trust (TSXV: BPWR.UN; TEP.DB); he also
serves on the boards of directors of LottoGopher Holdings, LLC, Produce
Pay, Inc. and EcoLogic Solutions, Inc.

On behalf of the Board, Cynthia Russo, Lead Independent Director,
commented, “Don helped guide the Company through a period of significant
transition and development. We thank Don for his service. Looking ahead,
the search to identify a permanent CEO is well underway and we will work
diligently to identify the best candidate to lead the Company and drive
stockholder value. We are pleased to have an executive of Savneet’s
caliber lead the Company during this interim period and expect his
technology and business experience will ensure a smooth transition
period.”

Mr. Singh commented, “I am looking forward to working closely with the
Board and management team to move the Company forward during this
transition period.”

ABOUT PAR TECHNOLOGY

PAR Technology Corporation’s stock is traded on the New York Stock
Exchange under the symbol PAR. PAR’s Restaurant/Retail segment has been
a leading provider of restaurant and retail technology for more than 35
years. PAR offers technology solutions for the full spectrum of
restaurant operations, from large chain and independent table service
restaurants to international quick service chains. Products from PAR
also can be found in retailers, cinemas, cruise lines, stadiums, and
food service companies. PAR’s Government segment is a leader in
providing computer-based system design, engineering and technical
services to the Department of Defense and various federal agencies. For
more information visit http://www.partech.com
or connect with us on Facebook
and Twitter.

Contacts

Christopher R. Byrnes (315) 738-0600 ext. 6226
cbyrnes@partech.com,
www.partech.com

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