• Karen E. Sammon, a member of the immediate family of Dr. John W. Sammon, a Director and a beneficial owner of more than 10% of our common stock, served in the role of Chief of Staff of the Company since from April 2017 until March 2019. Prior to April 2017, Ms. Sammon served as Chief Executive Officer and President of the Company and President of ParTech, Inc. Ms. Sammon’s total compensation for 2018 was $405,750, comprised of a base salary of $300,000, 3,098 shares of restricted stock, 1,191 of which are time-vesting and vest ratably on December 31, 2018, December 31, 2019 and December 31, 2020, and 1,907 are performance-vesting and vest in 2020 to the extent annual performance targets are achieved. Ms. Sammon also received a non-qualified stock option to purchase 4,495 shares of our common stock, which vest ratably over three years beginning on the one-year anniversary of the date of grant, for an exercise price of $22.18 per share. The aggregate grant date fair value of equity awards was $105,750. In connection with Ms. Sammon’s departure all unvested equity awards granted to Ms. Sammon were forfeited other than as described herein. Further in connection with Ms. Sammon’s departure in March 2019, we entered into an agreement with Ms. Sammon pursuant to which we agreed, in consideration of a general release of claims in favor of the Company, to pay Ms. Sammon $138,461, payable in equal amounts in accordance with the Company’s normal payroll cycle, permit Ms. Sammon to vest in the remaining 33.33% of her May 5, 2016 stock option (16,667 shares), permit Ms. Sammon to vest on December 31, 2020 in the 33.33% performance-vesting shares of restricted stock granted to Ms. Sammon in August 2018 linked to the performance year ended December 31, 2018, pay the current employer portion of COBRA coverage through the earlier of December 31, 2019 and Ms. Sammon’s securing substitute medical coverage; provide Ms. Sammon with career coaching services up to $1,500 per month until the earlier of December 31, 2019 and Ms. Sammon’s subsequent employment, and pay Ms. Sammon 120 hours of earned, but unused vacation. Ms. Sammon’s total compensation in 2017 was reported in the Proxy Statement for our 2018 Annual Meeting of Stockholders as $367,458, comprised of a base salary of $300,000, 7,500 shares of restricted stock, which vest ratably over three years, 50% (3,750) of which are time vesting and 50% (3,750) are performance vesting, and have a grant date fair value of $66,750. In 2018 and 2017, Ms. Sammon participated in our retirement plan, insurance and other customary benefits offered to our employees.
• John W. Sammon, III, a member of the immediate family of Dr. John W. Sammon, became an employee of ParTech, Inc. on October 13, 2014, serving as General Manager & Senior Vice President, SureCheck until his departure from the Company in September 2018. Mr. Sammon’s total compensation for 2018 was $183,164, comprised of a base salary of $138,164, 1,318 shares of restricted stock, 507 of which are time-vesting and vest ratably on December 31, 2018, December 31, 2019 and December 31, 2020, and 811 are performance-vesting and vest in 2020 to the extent annual performance targets are achieved. Mr. Sammon also received a non-qualified stock option to purchase 1,913 shares of our common stock, which vest ratably over three years beginning on the one-year anniversary of the date of grant, for an exercise price of $22.18 per share. The aggregate grant date fair value of equity awards was $45,000. In connection with Mr. Sammon’s departure, all unvested equity awards were forfeited and, in consideration of a general release of claims in favor of the Company, the Company paid Mr. Sammon $47,307. Mr. Sammon’s total compensation for 2017, was $245,050, comprised of a base salary of $205,000 and 4,500 shares of restricted stock, which vest ratably over three (3) years, 50% (2,250) of which are time vesting and 50% (2,250) are performance vesting, and have an aggregate grant date fair value of $40,050. In 2018 and 2017, Mr. Sammon participated in our retirement plan, insurance and other customary benefits offered to our employees.
• Karen E. Sammon, the Company’s former Chief of Staff, and her brother, John W. Sammon, III, former General Manager & Senior Vice President of ParTech, Inc., are principals in Sammon and Sammon, LLC, doing business as Paragon Racquet Club. Paragon Racquet Club leased a building from us, located in New Hartford, New York, on a month-to-month basis at the base rate of $9,775 per month (or an aggregate annual amount of $39,100 and $117,300 for 2018 and 2017, respectively) and provided complimentary memberships to PAR’s local employees, which were valued at $6,350 and $27,170 in 2018 and 2017, respectively. Expenses related to the facility were $74,000 and 25,000 during 2018 and 2017, respectively. Both Ms. Sammon and Mr. Sammon are members of the immediate family of Dr. Sammon. The Nominating and Corporate Governance Committee reviewed this arrangement and, after consulting with the principals of Sammon and Sammon, terminated this arrangement as of April 30, 2018.