Kudos to Parallels Support
I've seen some posts about billing practices etc. Wanted to provide my feedback. I have always had 2 separate licenses for Pro (yearly), and got tired of having them expire at different times and have 2 different charges, so I purchased 2 additional licenses this year, so they would expire at the same time. I had forgotten to turn off auto renewal on one of the expiring licenses and it attempted to auto renew. I could not cancel the auto renew since it showed expired and was attempting to renew.
I opened a ticket with Parallels to call them, I got someone within a minute on the phone, confirmed the license key and he was able to fix it within a minute. I got an email showing the auto renewal was canceled, and my 2 existing licenses (co-term) working great.