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                                                                    EXHIBIT 10.8

                                 BANCTEC, INC.



                               November 18, 1999



Mr. John Staedke
126 Mill Spring Lane
Stamford, Connecticut  06903

Dear John:

          The purpose of this letter is to confirm our offer to you to be
President and Chief Executive Officer of BancTec, Inc. The terms of this offer
are as follows:

          Position:           President and Chief Executive Officer of BancTec,
                              Inc.

          Effective Date:     As soon as possible. Target date: December 1, 1999

          Term:               Five (5) years

          Compensation:       Salary: $300,000 per annum. The Board of Directors
                              ------
                              of BancTec will assess your salary annually and
                              will make appropriate adjustments based on both
                              (i) your performance and (ii) comparison to the
                              compensation paid to similar level executives
                              employed by similar sized businesses operating in
                              similar markets.

                              Bonus: $150,000 to $300,000 to be based on the
                              -----
                              attainment of objectives to be determined;
                              $150,000 minimum bonus will be guaranteed for the
                              year 2000.

                              Signing Bonus: $200,000 meant to offset loss of
                              -------------
                              bonus for 1999 because of November departure from
                              your current employer.
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          Severance:          If your employment is terminated by BancTec
                              without cause during any of the periods specified
                              below, BancTec will pay you the amount appearing
                              opposite such period in the column labeled
                              "Payment":

                                   Period                          Payment
                                   ------                          -------

                              Prior to 1st anniversary
                              of date of employment:              $900,000

                              On or after the 1st anniversary,
                              but prior to the 2nd anniversary:   $600,000

                              On or after the 2nd anniversary:    150% of your
                                                                  salary then in
                                                                  effect

     Equity:                  Options:  Ten-year stock options exercisable for
                              -------
                              400,000 shares of Common Stock at an exercise
                              price of $9.25 per share (after giving effect to a
                              2 for 1 stock split yet to be effected). The
                              exercise price will be identical to the investors'
                              buy-in price.

                              You will be eligible for continued stock grants
                              and stock option grants at the discretion of the
                              Board of Directors based on both (i) your
                              performance and (ii) comparison to the amount of
                              stock grants and stock option grants provided to
                              other BancTec executives.

                              Vesting: 100,000 shares will vest immediately. An
                              -------
                              additional 100,000 shares vest over a three-year
                              period, 33-1/3% on each of the second, third and
                              fourth anniversaries of your date of employment,
                              as long as your employment continues on such
                              dates. 200,000 shares will vest over a four-year
                              period based upon the achievement of EBITDA
                              performance targets (to be determined). A "make
                              up" provision for a "missed performance year" will
                              be included. Adjustments to EBITDA performance
                              targets will be made for acquisitions and/or
                              divestitures.

                                       2
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                         Change of Control Vesting:  If there is a change of
                         -------------------------
                         control of BancTec that results in the Welsh, Carson,
                         Anderson & Stowe investment partnerships and affiliates
                         achieving an internal rate of return (net of any costs
                         and fees) of at least 25%, then a portion of your
                         theretofore unvested options will vest to the extent
                         necessary to result in at least 50% of the total number
                         of options held by you (including options issued to you
                         after the initial grant) being vested. The Board of
                         Directors will have the right, in its sole discretion,
                         to increase the percentage of your options that will
                         become vested after a change of control described
                         above.

          Indemnity:     We do not believe that BancTec is a competitor of
                         Electronic Data Systems Corporation ("EDS").
                         Accordingly, BancTec will provide all financial and
                         legal assistance necessary for you to contest any
                         actions brought by EDS against you for violating any
                         non-competition agreements currently in effect between
                         you and EDS. BancTec will indemnify you against any
                         expenses, damages or other losses arising in connection
                         with any action brought by EDS under any such non-
                         competition agreements.  The financial and legal
                         assistance and indemnity described above will not apply
                         to any actions brought by EDS against you (or any
                         resulting expenses, damages or other losses) for
                         violating any confidentiality or non-solicitation
                         agreements between you and EDS.

          Other:         Vacation:  Four (4) weeks paid vacation annually in
                         --------
                         addition to customary business holidays.

                         Medical Coverage:  Full and complete medical coverage
                         ----------------
                         for you and your spouse as of the date of your
                         employment.

                         Relocation Expenses:
                         -------------------

                              Reimbursement for relocation expenses specifically
                              including (i) all moving expenses and (ii) the
                              full brokerage fee for the sale of your current
                              residence.

                                       3
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                              Reimbursement for all commuting and living
                              expenses for up to six (6) months from the date of
                              the Employment Agreement.

                              Reimbursement for all other reasonable relocation
                              expenses.

                         Death and Disability:  The Employment Agreement  will
                         --------------------
                         contain customary death and disability provisions.

                         Officers and Directors Insurance:  BancTec will
                         --------------------------------
                         maintain officers and directors insurance covering you
                         for the entire term of your employment with BancTec and
                         thereafter for any actions taken during your employment
                         with BancTec.

     John, any thoughts expressed in this letter will not do an adequate job of
conveying how enthusiastic the entire Board of Directors is with respect to you
potentially leading BancTec, Inc.  We believe the situation is a superb matching
of your impressive experience and skills and the many opportunities and
challenges facing the Company.  We would be most pleased if you would accept our
offer and would look forward to building a great company that will create
significant shareholder value by becoming a fast growing industry leader.

                                        Sincerely,

                                        /s/Robert A. Minicucci

                                        Robert A. Minicucci
                                        Chairman of the Board
                                        On behalf of the Board of
                                        Directors of BancTec, Inc.

Accepted and Agreed:



/s/John Staedke
---------------------------------
       John Staedke


cc:    Anthony J. de Nicola
       Murray Holland
       Scott Mackesy

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