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Exhibit 10.13  

 
 

Form Of
  BancTec, Inc.
  2007 Equity Incentive Plan
  Restricted Stock Award Agreement    
    

 SECTION 1. GRANT OF RESTRICTED STOCK AWARD.  

(a)  Restricted Stock Award. BancTec, Inc. (the "Company") hereby grants to the
undersigned (the "Grantee"), on June 27, 2007, the shares of common stock of the Company, par value $0.01 per share, in the amount set forth on
the signature page hereto (the "Granted Shares") pursuant to the terms and conditions set forth in this agreement (the
"Agreement") and the BancTec, Inc. Amended and Restated 2007 Equity Incentive Plan (the "Plan").
Capitalized terms not defined herein shall have the same meaning as in the Plan. 

(b)  No Purchase Price. In lieu of a purchase price, this award is made in consideration of Service previously rendered by the Grantee to
the Company. 

SECTION 2. ISSUANCE OF SHARES  

(a)  Stock Certificates. The Company shall cause to be issued a certificate or certificates for the Granted Shares representing this award,
registered in the name of the Grantee (or in the names of such person and his or her spouse as community property or as joint tenants with right of survivorship). 

(b)  Stockholder Rights. The Grantee (or any successor in interest) shall have all of the rights of a stockholder of the Company (including,
without limitation, voting, dividend and liquidation rights) with respect to the Granted Shares, subject, however, to the restrictions set forth in this Agreement. 

(c)  Escrow. For so long as the Granted Shares are not vested, the certificate or certificates representing such unvested Granted Shares
shall remain in the Company's possession. The Grantee shall deliver to the Company a duly-executed blank stock power in the form attached hereto as  Exhibit A. Notwithstanding the foregoing, all
regular cash dividends paid on Granted Shares that remain in the possession of the Company shall be
paid directly to the Grantee. The Granted Shares, together with any other assets or securities possessed by the Company for the benefit of the Grantee hereunder, shall be (i) remitted to the
Company for reacquisition under the forfeiture provision set forth in Section 5 of this Agreement or (ii) released to the Grantee upon the
Grantee's request to the extent the Granted Shares have become vested shares. In any event, but subject to the provision of Section 4 of this
Agreement, all vested Granted Shares (and any other vested assets and securities attributable thereto) shall be released by the Company to the Grantee within sixty (60) days following the date
the Grantee's termination of employment with the Company. 

(d)  Section 83(b) Election. Section 83 of the Code provides that the Grantee is not subject to federal income tax until the
restrictions on the Granted Shares lapse. If the Grantee chooses, the Grantee may make an election under Section 83(b) of the Code, which would cause the Grantee to recognize income in the
amount of the excess (if any) of the Fair Market Value of the award (determined as of the date of the award) over the Purchase Price (if any). If the Grantee chooses to make an election under
Section 83(b) of the Code, such Section 83(b) election must be filed with the Internal Revenue Service within thirty (30) days after the date of this award  (even if no tax is due because the Fair Market Value of
the Granted Shares on the date of this award equals the purchase price paid or equals $0.00).  The form for making a Section 83(b) election is attached hereto as Exhibit B. The Grantee acknowledges that it is
the Grantee's sole responsibility to timely file the Section 83(b) election and that failure to file a Section 83(b) election within the applicable thirty (30)-day
period may result in the recognition of ordinary income when the restrictions lapse.

 

(e)  Withholding Requirements. The Company may withhold any tax (or other governmental obligation) as a result of the grant of this award
and/or the filing of a Section 83(b) election as a condition to the grant of this award, and the Grantee shall make arrangements satisfactory to the Company to enable it to satisfy all such
withholding requirements. 

SECTION 3. VESTING SCHEDULE  

(a)  The
Granted Shares shall vest according to the following schedule: 

	Vesting Date
	 	Amount to be Vested

	June 27, 2008	 	(25%)
	June 27, 2009	 	(25%)
	June 27, 2010	 	(25%)
	June 27, 2011	 	(25%)

(b)  For
purposes of this Agreement, "Vested Shares" shall refer to Granted Shares that are vested at such time. 

(c)  For
purposes of this Agreement, "Restricted Shares" shall refer to Granted Shares that are not vested at such time. 

(d)  If
the Grantee's employment with the Company is terminated by the Company without Cause (other than by reason of death or permanent disability) or by the Grantee for Good Reason, any
Restricted Shares at such time shall become Vested Shares. 

SECTION 4. TERMINATION OF SERVICE.  

If
the Grantee's employment with the Company terminates for any reason, (including, without limitation, as a result of the Grantee's death or Disability and except as otherwise set forth in
Section 3(d) of this Agreement), (A) all Vested Shares held by the Grantee as of the date of such termination shall remain outstanding and (B) all Restricted Shares held by the
Grantee as of the date of such termination shall be immediately forfeited and cancelled in accordance with Section 5 of this Agreement. 

SECTION 5. FORFEITURE PROVISION.  

The
Company shall have the right to reacquire the Restricted Shares and the Grantee will be deemed to have transferred the Restricted Shares to the Company in the event that the Grantee holds any
unvested Restricted Shares when his or her employment is terminated (except as otherwise set forth in Section 3(d) of this Agreement). The Company shall reacquire the Restricted Shares pursuant
to this forfeiture provision without the payment of any consideration effective on the date of the Grantee's termination of employment with the Company. From and after such time, the Grantee shall no
longer have any rights as a holder of the Restricted Shares and such Restricted Shares shall be deemed to have been reacquired by and transferred to the Company. Once a forfeiture is effected, this
award shall be cancelled with respect to the Restricted Shares and the Company shall have no further obligation with respect thereto. 

SECTION 6. DEFINITIONS  

(a)  "Cause" shall mean: 

        (i)    a
material breach of, or the willful failure or refusal by the Grantee to perform and discharge duties or obligations the Grantee has agreed to perform or assume under
that certain Employment Agreement, between the Company and the Grantee, dated May 27, 2007 (the "Employment Agreement") (other than by reason of
permanent disability or death); 

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        (ii)   the
Grantee's failure to follow a lawful directive of the Chief Executive Officer or the Board that is within the scope of the Grantee's duties for a period of ten
(10) business days after notice from the Chief Executive Officer or the Board specifying the performance required; 

        (iii)  any
material violation by the Grantee of a policy contained in the Code of Conduct of the Company or similar publication; 

        (iv)  drug
or alcohol abuse by the Grantee that materially affects the Grantee's performance of the Grantee's duties under the Employment Agreement; or 

        (v)   conviction
of, or the entry of a plea of guilty or nolo contendere by the Grantee for, any felony or other crime
involving moral turpitude. 

(b)  "Good Reason" shall mean, without the Grantee's express written consent: 

        (i)    a
reduction in the Grantee's Base Salary or target bonus percentage under the Bonus Plan to less than 100% of Base Salary; 

        (ii)   any
change in the position, duties, responsibilities (including reporting responsibilities) or status of the Grantee that is adverse to the Grantee in any material
respect with the Grantee's position, duties, responsibilities or status as of the date of the Employment Agreement; 

        (iii)  a
requirement by the Company that the Grantee be based in an office that is located more than fifty (50) miles from the Grantee's principal place of employment
as of the date of the Employment Agreement; or 

        (iv)  any
material failure on the part of the Company to comply with and satisfy the terms of the Employment Agreement; 

provided, that a termination by the Grantee with Good Reason shall be effective only if the Grantee delivers to the Company a notice of termination for
Good Reason within ninety (90) days after the Grantee first learns of the existence of the circumstances giving rise to Good Reason setting forth the basis of such Good Reason termination and
within thirty (30) days following delivery of such notice of termination for Good Reason, the Company has failed to cure the circumstances giving rise to Good Reason to the reasonable
satisfaction of the Grantee. 

SECTION 7. MISCELLANEOUS PROVISIONS.  

(a)  Tenure. Nothing in the Agreement or the Plan shall confer upon the Grantee any right to continue in employment with the Company for any
period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any Subsidiary or parent of the Company employing or retaining the Grantee) or of the
Grantee, which rights are hereby expressly reserved by each, to terminate his or her employment at any time and for any reason, with or without cause. 

(b)  Notification. Any notification required by the terms of this Agreement shall be given in writing and shall be deemed effective upon
personal delivery or upon deposit with the United States Postal Service, by registered or certified mail, with postage and fees prepaid. A notice shall be addressed to the Company at its principal
executive office and to the Grantee at the address that he or she most recently provided to the Company. 

(c)  Entire Agreement. This Agreement, the Plan and the Employment Agreement (as applicable) constitute the entire contract between the
parties hereto with regard to the subject matter hereof. They supersede any other agreements, representations or understandings (whether oral or written and whether express or implied) which relate to
the subject matter hereof. In the event that the terms of this Agreement, any Employment Agreement and the Plan are in conflict, the terms of the Plan shall govern. 

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(d)  Waiver. No waiver of any breach or condition of this Agreement shall be deemed to be a waiver of any other or subsequent breach or
condition whether of like or different nature. 

(e)  Successors and Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the Company and its
successors and assigns and upon the Grantee, the Grantee's assigns and the legal representatives, heirs and legatees of the Grantee's estate, whether or not any such person shall have become a party
to this Agreement and have agreed in writing to be join herein and be bound by the terms hereof. 

(f)  Choice of Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, as such laws
are applied to contracts entered into and performed in such state. 

 
 

[Signature page follows.]    

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        Please
acknowledge receipt of this Agreement by signing the enclosed copy of this Agreement in the space provided below and returning it promptly to the Secretary of the Company. 

	 	 	BANCTEC, INC.
	

 	
 	

BY:	

    

	 	 	 	J. Coley Clark

President and Chief Executive Officer

GRANTEE 

Accepted
and Agreed to

As of                         , 2007: 

	BY:	 	    
	 
	 	 	[Name of Executive]	 

Granted Shares: [                        ] 

 
 
 

EXHIBIT A
  
    STOCK POWER    
    

FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and transfer(s) unto BancTec, Inc. (the
"Company"),                        
(            ) shares of the common stock, par value $0.01 per share, of the Company standing in his/her/their/its name
on the books of the Company represented by Certificate No.                        herewith and do(es) hereby irrevocably
constitute and appoint                        his/her/their/its
attorney-in-fact, with full power of substitution, to transfer such shares on the books of the Company. 

	

Dated:	
 	

                        
	
 	

Signature:	

                

	

 	
 	

 	
 	

Print Name and Mailing Address
	

 	
 	

 	
 	

	

 	
 	

 	
 	

	

 	
 	

 	
 	

	Instructions:	 	Please do not fill in any blanks other than the signature line and printed name and mailing address. Please print your name exactly as you would like your name to appear on the issued stock certificate. The purpose of
this assignment is to enable the Company to exercise its right to forfeit the Shares without requiring additional signatures on your part.

 
 
 

EXHIBIT B
  
    SECTION 83(b) ELECTION    
    

This
statement is being made under Section 83(b) of the Internal Revenue Code, pursuant to Treas. Reg. Section 1.83-2. 

	(1)
	The
taxpayer who performed the services is: 

	 	 	Name:	

	 	 	Address:	

	 	 	 	

	 	 	Soial Security Number:	

	(2)
	The
property with respect to which the election is being made is                        shares of the common stock, par value $0.01
per share, of BancTec, Inc.

	(3)
	The
property was issued on                        .

	(4)
	The
taxable year in which the election is being made is the calendar year                        .

	(5)
	The
property is subject to a substantial risk of forfeiture to which the issuer has the right to reacquire the property without the payment of any consideration, at any time prior to
the vesting date. The issuer's right to reacquire the property lapses in a series of installments over a [four(4)] year period ending
on                        , 200    .

	(6)
	The
fair market value at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is
$                        per
share.

	(7)
	The
amount paid for such property is $                        per share.

	(8)
	A
copy of this statement was furnished to BancTec, Inc. for whom taxpayer rendered the services underlying the transfer of property.

	(9)
	This
statement is executed on                        . 

	
	 	

	Spouse (if any)	 	Taxpayer

This election must be filed with the Internal Revenue Service Center with which taxpayer files his or her federal income tax returns and must be made within thirty
(30) days after the execution date of Restricted Stock Award Agreement. This filing should be made by registered or certified mail, return receipt requested. You should retain two
(2) copies of the completed form for filing with your federal and state tax returns for the current tax year and an additional copy for your records.

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Form Of BancTec, Inc. 2007 Equity Incentive Plan Restricted Stock Award Agreement

[Signature page follows.]

EXHIBIT A STOCK POWER

EXHIBIT B SECTION 83(b) ELECTIONExhibit 10.14  

Form of

BancTec, Inc.  

 2007 Non-Employee Director Equity Plan  

 Article 1.    Establishment & Purpose  

        1.1    Establishment.    BancTec, Inc., a Delaware corporation
(hereinafter referred to as the "Company"), hereby establishes the BancTec, Inc. 2007 Non-Employee Director Equity Plan (hereinafter
referred to as the "Plan") as set forth in this document. 

        1.2    Purpose of the Plan.    The purpose of this Plan is to attract
and retain qualified persons to serve as members of the Board of Directors (hereinafter referred to as the "Board") of the Company and to encourage
ownership of Company equity in order to provide additional incentives to promote the success of the Company. 

 Article 2.    Definitions  

        Whenever capitalized in the Plan, the following terms shall have the meanings set forth below. 

        2.1    "Affiliate" means any
entity that the Company, either directly or indirectly, is in common control with, is controlled by, or controls, or any entity in which the Company has a substantial direct or indirect equity
interest, as determined by the Board. 

        2.2    "Award" means any Option
or Restricted Stock Award that is granted under the Plan. 

        2.3    "Award Agreement" means
either (a) a written agreement entered into by the Company and a Non-Employee Director setting forth the terms and provisions applicable to an Award granted under this Plan, or
(b) a written statement issued by the Company to a Non-Employee Director describing the terms and provisions of the actual grant of such Award. 

        2.4    "Beneficial Owner" or
 "Beneficial Ownership" shall have the meaning ascribed to such term in Rule 13d-3 of
the General Rules and Regulations under the Exchange Act. 

        2.5    "Board" means the Board
of Directors of the Company. 

        2.6    "Change of Control"
means
the occurrence of any of the following events: 

	(a)
	Any
Person is or becomes the Beneficial Owner (except that a Person shall be deemed to have "Beneficial Ownership" of all Shares that
any such Person has the right to acquire, whether such right is currently exercisable or only after the passage of time), directly or indirectly, of more than 50% of the total voting power of the
voting stock of the Company, including by way of merger, consolidation, tender, exchange offer or otherwise;

	(b)
	The
sale or disposition, in one or a series of related transactions, of all or substantially all, of the assets of the Company to any Person;

	(c)
	During
any period of two consecutive years commencing on or after the Effective Date, individuals who as of the beginning of such period constituted the entire Board (together with
any new directors whose election by such Board or nomination for election by the Company's stockholders was approved by a vote of at least two-thirds of the members of the Board, then
still in office, who were members of the Board at the beginning of the period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority
thereof; or

	(d)
	Approval
by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

 

        2.7    "Code" means the U.S.
Internal Revenue Code of 1986, as amended from time to time. 

        2.8    "Committee" means the
Compensation Committee of the Board, or any other committee designated by the Board to administer this Plan. 

        2.9    "Company" means
BancTec, Inc., a Delaware corporation and any successor thereto. 

        2.10    "Effective Date" means
the date set forth in Section 14.12. 

        2.11    "Exchange Act" means
the
Securities Exchange Act of 1934, as amended from time to time. 

        2.12    "Fair Market Value"
means, as of any date, the per Share value determined as follows: 

	(a)
	If
the Shares are listed on any established stock exchange or a national market system, including the PORTAL Market, the per Share Fair Market Value shall be the closing sales price
for each share of such stock (or the closing bid, if no sales were reported) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the
last trading date such closing sales price or closing bid was reported), as reported in The Wall Street Journal or such other source as the Committee
deems reliable;

	(b)
	If
the Shares are regularly quoted on an automated quotation system (including the OTC Bulletin Board and the "Pink Sheets" published
by the National Quotation Bureau, Inc.) or by a recognized securities dealer, but selling prices are not reported, the per Share Fair Market Value shall be the mean between the high bid and low
asked prices for a Share on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in The Wall
Street Journal or such other source as the Committee deems reliable; or

	(c)
	In
the absence of an established market for the Shares of the type described in (a) and (b) above, the per Share Fair Market Value thereof shall be determined by the
Committee in good faith through the reasonable application of a reasonable valuation method and in accordance with applicable provisions of Section 409A of the Code. 

        2.13    "Option" means any
option to purchase Shares granted from time to time under Article 6 of the Plan. 

        2.14    "Option Price" means
the
purchase price per Share subject to an Option, as determined pursuant to Section 9.1 of the Plan. 

        2.15    "Non-Employee
Director" means a member of the Board who is not also an Employee of the Company. 

        2.16    "Person" shall have the
meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a "group" as
defined in Section 13(d) thereof. 

        2.17    "Plan" means the
BancTec, Inc. 2007 Non-Employee Director Equity Plan. 

        2.18    "Plan Year" means the
applicable calendar year. 

        2.19    "Restricted Stock" means any Award granted under
Article 7. 

        2.20    "Restriction Period"
means the period during which Restricted Stock awarded under Section 7 of the Plan is subject to forfeiture. 

        2.21    "Service" means service
as a Non-Employee Director. 

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        2.22    "Share" means a share
of
common stock of the Company, par value $0.01 per share, or such other class or kind of shares or other securities resulting from the application of Article 12. 

        2.23    "Stock Unit" means the credits to a Non-Employee Director's
Stock Unit Account under Section 7.4(c) of the Plan, each of which represents the right to receive one Share upon settlement of the Stock Unit Account. 

        2.24    "Stock Unit Account"
shall have the meaning set forth in Section 7.4(c) of the Plan. 

        2.25    "Subsidiary" means any
Person of which a majority of the outstanding share capital, voting securities or other voting equity interests are owned, directly or indirectly, by the Company. 

 Article 3.    Administration  

        The Plan shall be administered by the Committee, which shall have full power to interpret and administer the Plan and full authority to determine the type and
amount of Awards to be granted to each Non-Employee Director, the terms and conditions of Awards granted under the Plan and the terms of Award Agreements to be entered into with
Non-Employee Directors. Without limiting the generality of the foregoing, the Committee may, in its sole discretion, clarify, construe or resolve any ambiguity in any provision of the Plan
or any Award Agreement, accelerate or waive vesting of Awards and exercisability of Awards, extend the term or period of exercisability of any Awards, modify the purchase price under any Award, or
waive any terms or conditions applicable to any Award. All actions taken and all interpretations and determinations made by the Committee or by the Board (or any other committee or
sub-committee thereof), as applicable, shall be final and binding upon the Non-Employee Directors, the Company, and all other interested individuals. 

 Article 4.    Eligibility and Participation  

        4.1    Eligibility.    All Non-Employee Directors of the
Company shall be participants in the Plan. 

        4.2    Type of Awards.    Awards under the Plan may be granted in any
one or a combination of: (a) Options and (b) Restricted Stock. Awards granted under the Plan shall be evidenced by Award Agreements (which need not be identical) that provide additional
terms and conditions associated with such Awards, as determined by the Committee in its sole discretion; provided,  however, that in the event of any
conflict between the provisions of the Plan and any such Award Agreement, the provisions of the Plan shall prevail. 

 Article 5.    Shares Subject to the Plan and Maximum Awards  

        5.1    Number of Shares Available for Awards.    

	(a)
	General.    Subject to adjustment as provided in Article 12, the maximum number of Shares available for issuance to
Non-Employee Directors pursuant to Awards under the Plan shall be 2,500,000 Shares. The Shares available for issuance under the Plan may consist, in whole or in part, of authorized and
unissued Shares or treasury Shares. Any Shares delivered to the Company as part or full payment for the purchase price of an Award granted under this Plan shall again be available for Awards under the
Plan.

	(b)
	Additional Shares.    In the event that any outstanding Award expires, is forfeited, cancelled or otherwise terminated
without the issuance of Shares or are otherwise settled for cash, the Shares subject to such Award, to the extent of any such forfeiture, cancellation, expiration, termination or settlement for cash,
shall again be available for Awards under the Plan. 

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 Article 6.    Grants of Restricted Stock  

        6.1    Initial Grant of Restricted Stock.    Each
Non-Employee Director in office on December 31, 2007 shall be granted as of the Effective Date hereof (the "Initial Grant Date")
6,250 shares of Restricted Stock. 

        6.2    Annual Awards of Restricted Stock.    Upon the earlier to occur
of (i) the day immediately following the date of the Company's annual stockholder's meeting or (ii) June 1 (beginning during the term of the Plan and after the Initial Grant
Date), each Non-Employee Director shall be granted a number of shares of Restricted Stock equal to $50,000 divided by the Fair Market Value per Share as of that date. 

        6.3    New Non-Employee Director Grants of Restricted
Stock.    Each individual who first becomes a Non-Employee Director after the Initial Grant Date, on a date other than the date of the Company's annual
stockholder's meeting, shall be granted a number of shares of Restricted Stock as of the date such individual becomes a Non-Employee Director equal to (x) divided by (y), where
(x) is $50,000 multiplied by a fraction, the numerator of which is the number of whole months from the date such individual becomes a Non-Employee Director to the next Company
annual stockholder's meeting and the denominator of which is 12 and (y) is the Fair Market Value per Share as of the date the individual first becomes a Non-Employee Director. 

        6.4    Fractional Shares.    No fractional shares shall be granted
under the Plan. Accordingly, if the conversion referred to in Sections 6.1, 6.2 or 6.3 above results in fractional shares, such fractional shares shall be paid to the Non-Employee
Director in cash. 

 Article 7.    Restricted Stock Awards  

        7.1    Terms of Restricted Stock Awards.    Each Award Agreement
evidencing a Restricted Stock grant shall specify the period(s) of restriction, the number of Shares of Restricted Stock subject to the Award, the performance, employment or other conditions
(including the termination of a Non-Employee Director's Service whether due to death, disability or other cause) under which the Restricted Stock may be forfeited to the Company and such
other provisions as the Committee shall determine. Any Restricted Stock granted under the Plan shall be evidenced in such manner as the Committee may deem appropriate, including book-entry
registration or issuance of a stock certificate or certificates (in which case, the certificate(s) representing such Shares shall be legended as to sale, transfer, assignment, pledge or other
encumbrances during the Restriction Period and deposited by the Non-Employee Director, together with a stock power endorsed in blank, with the Company, to be held in escrow during the
Restriction Period). At the end of the Restriction Period, the restrictions imposed hereunder shall lapse with respect to the number of shares of Restricted Stock as determined by the Committee, and
the legend shall be removed and such number of Shares delivered to the Non-Employee Director (or, where appropriate, the Non-Employee Director's legal representative). The
Committee may, in its sole discretion, modify or accelerate the lapsing of the restrictions imposed on Restricted Stock. 

        7.2    Voting and Dividend Rights.    Unless otherwise determined by
the Committee and set forth in the applicable Award Agreement, Non-Employee Directors holding Restricted Stock granted hereunder shall not have the right to exercise voting rights with
respect to the Restricted Stock and shall not have the right to receive dividends on such Restricted Stock. 

        7.3    Section 83(b) Election.    If a Non-Employee
Director makes an election pursuant to Section 83(b) of the Code concerning Restricted Stock, the Non-Employee Director shall be required to file promptly a copy of such election
with the Company. 

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        7.4    Deferral of Restricted Stock Award    

	(a)
	Deferral Election.    Each Non-Employee Director, so long as he or she remains in Service, may elect to defer
receipt of his or her Restricted Stock Award under the Plan by filing an election to defer on a form provided by the Committee, in accordance with Committee rules. Such election must be filed within
thirty (30) days after the grant date of the Restricted Stock Award, and may not be amended or revoked after the expiration of such thirty (30) day period. Notwithstanding any of the
foregoing, the Committee may from time to time set such other deadlines for the filing of Non-Employee Director elections as it may determine in its discretion, provided that such other
deadlines would not result in a violation of any of the requirements of Section 409A of the Code.

	(b)
	Special Rule for Non-Employee Director's First Year of Participation.    Any individual who is a
Non-Employee Director on the Initial Grant Date and any individual who becomes a Non-Employee Director during a Fiscal Year pursuant to Section 6.3 thereafter, may
file a deferral election within thirty (30) days after the later of the Initial Grant Date or becoming a Non-Employee Director. The Non-Employee Director's
election form shall apply to the portion of the Restricted Stock Award granted with respect to services to be performed subsequent to the election and may not be amended or revoked after the
expiration of such thirty (30) day period.

	(c)
	Stock Unit Account.    Any amount of the Award deferred by a Non-Employee Director pursuant to
Section 7.4(a) or 7.4(b) shall be converted into Stock Units. The Stock Units deferred pursuant to this provision shall be credited to a bookkeeping account established for this purpose (the
"Stock Unit Account") in the name of each Non-Employee Director who elects to defer.

	(d)
	Distribution of Deferred Compensation.    Upon the earlier of (i) termination of the Non-Employee
Director's Service for any reason or (ii) the occurrence of a Change in Control, the amounts credited to the Non-Employee Director's Stock Unit Account shall be paid to such
Non-Employee Director (and after his or her death, to his or her beneficiary) in a single distribution as soon as administratively possible following such termination of Service or Change
in Control. Solely for purposes of this Section 7.4, a "Change in Control" shall not be deemed to have occurred and no distribution shall be made
unless the Change in Control constitutes either a "change in the ownership or effective control" of the Company, or a "change in
the ownership of a substantial portion of the assets" of the Company, as described in Treas. Reg. § 1.409A-3(i)(5), as it may be amended from
time to time.

	(e)
	Form of Distribution of Stock Unit Account.    Upon the occurrence of any event giving rise to a distribution, amounts
deferred under this Plan shall be distributed in Shares in a single distribution.

	(f)
	Unsecured General Creditor.    With respect to Awards deferred, participating Non-Employee Directors, their
beneficiaries, heirs, successors, and assigns shall have no legal or equitable rights, claims, or interest in any specific property or assets of the Company. The Company's obligation under this Plan
with respect to the Stock Units shall be merely that of an unfunded and unsecured promise of the Company to pay money in the future, and the rights of the participating Non-Employee
Directors and their beneficiaries shall be no greater than those of unsecured general creditors. 

 Article 8.    Grants of Stock Options  

        8.1    Initial Grant of Stock Options.    Each
Non-Employee Director in office on December 31, 2007 shall be granted a number of Options having a grant date value (calculated using the 

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Black-Scholes
method) of $50,000 on the date of the declaration of effectiveness by the Securities and Exchange Commission of the Company's Registration Statement on
Form S-1. 

        8.2    Discretionary Awards of Options.    The Committee may, in its
discretion, grant Non-Employee Directors additional Stock Option Awards under the Plan. 

 Article 9.    Stock Options  

        9.1    Terms of Stock Option Awards.    Each Option shall permit a
Non-Employee Director to purchase from the Company a stated number of Shares at an Option Price established by the Committee, subject to the terms and conditions described in this
Article 8 and to such additional terms and conditions, as established by the Committee, in its sole discretion, that are consistent with the provisions of the Plan. Options are not intended to
be "incentive stock options" within the meaning Section 422 of the Code. Options shall be evidenced by Award Agreements which shall state the
number of Shares covered by such Option and the Option Price. Such agreements shall conform to the
requirements of the Plan, and may contain such other provisions, as the Committee shall deem advisable. The Option Price shall be determined by the Committee at the time of grant, but shall not be
less than 100% of the Fair Market Value of a Share on the date of grant. The term of each Option shall be determined by the Committee at the time of grant and shall be stated in the Award Agreement,
but in no event shall such term be greater than ten (10) years. 

        9.2    Time of Exercise.    Options granted under this
Article 8 shall be exercisable at such times and be subject to such restrictions and conditions as the Committee shall in each instance approve, which terms and restrictions need not be the
same for each grant or for each Non-Employee Director. 

        9.3    Method of Exercise.    Except as otherwise provided in the Plan
or in an Award Agreement, an Option may be exercised for all, or from time to time any part, of the Shares for which it is then exercisable. For purposes of this Article 8, the exercise date of
an Option shall be the later of the date a notice of exercise is received by the Company and, if applicable, the date payment is received by the Company pursuant to clauses (i), (ii),
(iii) or (iv) in the following sentence. The aggregate Option Price for the Shares as to which an Option is exercised shall be paid to the Company in full at the time of exercise at the
election of the Non-Employee Director (i) in cash or its equivalent (e.g., by cashier's check), (ii) to the extent permitted by the Committee, in Shares having a Fair
Market Value equal to the aggregate Option Price for the Shares being purchased and satisfying such other requirements as may be imposed by the Committee, (iii) partly in cash and, to the
extent permitted by the Committee, partly in such Shares or (iv) if there is a public market for the Shares at such time, subject to such requirements as may be imposed by the Committee,
through the delivery of irrevocable instructions to a broker to sell Shares obtained upon the exercise of the Option and to deliver promptly to the Company an amount out of the proceeds of such sale
equal to the aggregate Option Price for the Shares being purchased. The Committee may prescribe any other method of payment that it determines to be consistent with applicable law and the purpose of
the Plan. 

 Article 10.    Vesting; Termination of Service; Forfeiture of Awards.  

        10.1    Vesting of Awards.    Unless the Award Agreement provides
otherwise, Awards under the Plan shall vest, and Options shall become exercisable, with respect to fifty percent (50%) of the Shares subject to the Award on the first anniversary of the date of grant
and twenty-five percent (25%) on each of the second and third anniversaries of the date of grant of the Award, provided that the Non-Employee Director's Service has not
terminated prior to such anniversary dates. 

        10.2    Termination of Service.    Unless the Award Agreement provides
otherwise, any unvested Restricted Stock Awards or Options shall expire and be forfeited upon termination of a Non-Employee Director's Service for any reason. Any vested outstanding
Options shall
expire on the earliest of: (i) the expiration of their term or (ii) thirty (30) days following termination of Service for any reason. 

6

 

 Article 11.    Compliance with Section 409A of the Code.  

        It is the intent of the Company that Options and Restricted Stock Awards under the Plan shall be structured such that the Awards do not provide for a deferral of
compensation as further set forth in Treas. Reg. § 1.409A-1(b)(5) and that any deferral elected under Section 7.4 comply with all the requirements of
Section 409A of the Code. It is expressly contemplated that the Committee may, in its sole discretion and without a Non-Employee Director's prior consent, amend the Plan and/or
Awards, adopt policies and procedures, or take any other actions (including amendments, policies, procedures and actions with retroactive effect) as are necessary or appropriate to (a) exempt
the Plan and/or any Award from the application of Section 409A of the Code, (b) preserve the intended tax treatment of any such Award, or (c) comply with the requirements of
Section 409A of the Code, Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be
issued after the date of the grant ("Section 409A Guidance"). This Plan shall be interpreted at all times in such a manner that the terms and
provisions of the Plan and Awards are exempt from or comply with Section 409A Guidance. 

 Article 12.    Adjustments  

        12.1    Adjustments in Authorized Shares.    In the event of any
corporate event or transaction (including, but not limited to, a change in the Shares of the Company or the capitalization of the Company) such as a merger, consolidation, reorganization,
recapitalization, separation, stock dividend, stock split, reverse stock split, split up, spin-off, combination of Shares, exchange of Shares, dividend in kind, or other like change in
capital structure (other than normal cash dividends) to stockholders of the Company, or any similar corporate event or transaction, the Committee, to prevent dilution or enlargement of
Non-Employee Directors' rights under the Plan, shall substitute or adjust, in its sole discretion, the number and kind of Shares that may be issued under the Plan or under particular forms
of Awards, the number and kind of Shares subject to outstanding Awards, the Option Price applicable to outstanding Awards and/or other value determinations applicable to the Plan or outstanding
Awards. 

        12.2    Change of Control.    Upon the occurrence of a Change of
Control, the Committee is authorized (but not obligated) to make adjustments in the terms and conditions of outstanding Awards, including, without limitation, the following (i) upon written
notice, provide that any outstanding Awards must be exercised, to the extent then exercisable, within fifteen (15) days immediately prior to the scheduled consummation of the event, or such
other period as determined by the Committee (in either case contingent upon the consummation of the event), and at the end of such period, such Awards shall terminate to the extent not so exercised
within the relevant period, or (ii) all or any portion of outstanding Awards, whether vested or unvested, shall be cancelled for fair value (as determined in the sole discretion of the
Committee and which may be zero) which, in the case of Options, may equal the excess, if any, of the value of the consideration to be paid in the Change of Control transaction to holders of the same
number of Shares subject to such Options (or, if no such consideration is paid, Fair Market Value of the Shares subject to such outstanding Awards or portion thereof being canceled) over the aggregate
Option Price, as applicable, with respect to such Awards or portion thereof being canceled. 

 Article 13.    Duration, Amendment, Modification, Suspension, and Termination  

        13.1    Duration of the Plan.    Unless sooner terminated as provided
in Section 13.2, the Plan shall terminate on the tenth (10th) anniversary of the Effective Date. 

        13.2    Amendment, Modification, Suspension, and Termination of
Plan.    The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion thereof or any Award (or Award Agreement) thereunder at any time;
provided that no such amendment, alteration, suspension, discontinuation or termination shall be made (i) without stockholder approval if such approval is 

7

 

necessary
to comply with any tax or regulatory requirement applicable to the Plan, and (ii) without the consent of the Non-Employee Directors, if such action would materially
diminish any of the rights of any Non-Employee Director under any Award theretofore granted to such Non-Employee Director under the Plan; provided, however, the Committee may
amend the Plan, any Award or any Award Agreement in such manner as it deems necessary to comply with applicable laws. 

 Article 14.    General Provisions  

        14.1    No Right to Service.    Neither the Plan nor the grant of any
Award nor any action by the Company or the Board shall be held or construed to confer upon any person any right to continued service as a Non-Employee Director. 

        14.2    No Guarantees Regarding Tax
Treatment.    Non-Employee Directors (or their beneficiaries) shall be responsible for all taxes with respect to any Awards under the Plan. The Committee
and the Company make no guarantees to any person regarding the tax treatment of Awards or payments made under the Plan. Neither the Committee nor the Company has any obligation to take any action to
prevent the assessment of any excise tax on any person with respect to any Award under Section 409A of the Code or otherwise and none of the Company, any of its Subsidiaries or Affiliates, or
any of their employees or representatives shall have any liability to a Non-Employee Director with respect thereto. 

        14.3    Non-Transferability of Awards.    Unless otherwise
determined by the Committee, an Award shall not be transferable or assignable by the Non-Employee Director except in the event of his death (subject to the applicable laws of descent and
distribution) and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Affiliate. An Award
exercisable after the death of a Non-Employee Director may be exercised by the legatees, personal representatives or distributees of the Non-Employee Director. Any permitted
transfer of the Awards to heirs or legatees of the Non-Employee Director shall not be effective to bind the Company unless the Committee shall have been furnished with written notice
thereof and a copy of such evidence as the Committee may deem necessary to establish the validity of the transfer and the acceptance by the transferee or transferees of the terms and conditions
hereof. 

        14.4    Conditions and Restrictions on Shares.    The Committee may
impose such other conditions or restrictions on any Shares received in connection with an Award as it may deem advisable or desirable. These restrictions may include, but shall not be limited to, a
requirement that the Non-Employee Director hold the Shares received for a specified period of time or a requirement that a Non-Employee Director represent and warrant in
writing that the Non-Employee Director is acquiring the Shares for investment and without any present intention to sell or distribute such Shares. The certificates for Shares may include
any legend which the Committee deems appropriate to reflect any conditions and restrictions applicable to such Shares. 

        14.5    Compliance with Law.    The granting of Awards and the
issuance of Shares under the Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies, the NASDAQ Stock Market or other stock exchanges
on which the Shares are admitted to
trading or listed, as may be required. The Company shall have no obligation to issue or deliver evidence of title for Shares issued under the Plan prior to: 

	(a)
	Obtaining
any approvals from governmental agencies that the Company determines are necessary or advisable; and

	(b)
	Completion
of any registration or other qualification of the Shares under any applicable national, state or foreign law or ruling of any governmental body that the Company determines
to be necessary or advisable. 

The
restrictions contained in this Section 14.5 shall be in addition to any conditions or restrictions that the Committee may impose pursuant to Section 14.4. The inability of the
Company to obtain authority 

8

 

from
any regulatory body having jurisdiction, which authority is deemed by the Company's counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of
any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 

        14.6    Rights as a Stockholder.    Except as otherwise provided
herein or in the applicable Award Agreement, a Non-Employee Director shall have none of the rights of a stockholder with respect to Shares covered by any Award until the
Non-Employee Director becomes the record holder of such Shares. 

        14.7    Severability.    If any provision of the Plan or any Award is
or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction, or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the
Committee, such provision shall be construed or deemed amended to conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee,
materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person, or Award, and the remainder of the Plan and any such Award shall remain in
full force and effect. 

        14.8    Unfunded Plan.    Non-Employee Directors shall
have no right, title, or interest whatsoever in or to any investments that the Company or any of its Subsidiaries or Affiliates may make to aid it in meeting its obligations under the Plan. Nothing
contained in the Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a fiduciary
relationship between the Company and any Non-Employee Director, beneficiary, legal representative, or any other person. To the extent that any person acquires a right to receive payments
from the Company, any of its Subsidiaries or Affiliates under the Plan, such right shall be no greater than the right of an unsecured general creditor of the Company a Subsidiary or Affiliate, as the
case may be. All payments to be made hereunder shall be paid from the general funds of the Company, a Subsidiary or Affiliate, as the case may be, and no special or separate fund shall be established
and no segregation of assets shall be made to assure payment of such amounts. The Plan is not subject to the U.S. Employee Retirement Income Security Act of 1974, as amended from time to time. 

        14.9    No Constraint on Corporate Action.    Nothing in the Plan
shall be construed to (a) limit, impair, or otherwise affect the Company's, its Subsidiary's or Affiliate's right or power to make adjustments, reclassifications, reorganizations, or changes of
its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any part of its business or assets, or (b) limit the right or power of the
Company its Subsidiary or Affiliate to take any action which such entity deems to be necessary or appropriate. 

        14.10    Successors.    All obligations of the Company under the Plan
with respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger,
consolidation, or otherwise, of all or substantially all of the business or assets of the Company. 

        14.11    Governing Law.    The Plan and each Award Agreement shall be
governed by the laws of the State of Delaware, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law
of another jurisdiction. 

        14.12    Effective Date.    The Plan shall be effective as of the date
of its adoption by the Board, which date is set forth below (the "Effective Date"). 

(Signature page follows.) 

9

        This
Plan was duly adopted and approved by the Board of Directors of the Company by resolution at a meeting held on the 25th day of January, 2008. 

	

 J. Coley Clark

Chairman and Chief Executive Officer	
 	

 	

 

[SIGNATURE
PAGE TO BANCTEC, INC. 2007 NON-EMPLOYEE DIRECTOR EQUITY PLAN]

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