Amendment to Employment Agreement Regarding Stock Option Vesting – John D. Staedke and BancTec, Inc.

Summary

This amendment updates the employment agreement between John D. Staedke and BancTec, Inc. to change the vesting schedule for stock options. Under the new terms, 100,000 options vest as of July 1, 2000, and 300,000 options vest over four years starting January 1, 2001, with half based on time and half on company performance. Any accelerated vesting granted to other employees will also apply. All other terms of the original agreement remain unchanged.

EX-10.9 6 dex109.txt AMENDMENT TO EMPLOYMENT AGREEMENT - JOHN D. STAEDKE Exhibit 10.9 November 27, 2000 John D. Staedke Dear John: The purpose of this letter is to amend the terms of your employment offer letter dated November 18, 1999 ("Offer Letter") with respect to the vesting of stock options granted to you for the purchase of Common Stock of BancTec, Inc. The paragraph entitled "Vesting" is amended and replaced by the following: "Vesting: - -------- 100,000 options will vest effective July 1, 2000. 300,000 options will vest at the rate of 25% per year over a four year period beginning January 1, 2001 in accordance with the terms of the BancTec, Inc. 2000 Stock Plan and your stock option agreement: 50% will vest based upon the lapse of time and 50% will vest based upon the company's performance. Any accelerated vesting of options which been or in the future are generally granted to other optionees will also apply to your options." All other terms of the Offer Letter shall remain in full force and effect. Please sign this letter below acknowledging your agreement regarding the above amendment. Sincerely, /s/Robert A. Minicucci /s/John D. Staedke ----------------------- Robert A. Minicucci John D. Staedke Chairman of the Board of Directors