Document:

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                                                                   EXHIBIT 10.14

CONFIDENTIAL
August 22, 2001

Mr. Russell Crabs
340 Turtleback Road
New Canaan, CT  06840

Dear Russ:

            This letter (the "Agreement ") confirms your election to resign from
employment with SoundView Technology Group, Inc. (the "Company") effective
September 14, 2001. We express our gratitude for your services and wish you
happiness and success in your future endeavors. Our mutual understanding and
agreement with respect to the transition of your duties as President of the
Company and your separation from employment is as follows:

            1. You hereby confirm that your employment with the Company and its
subsidiaries will end effective at the close of business on September 14, 2001
(the "Separation Date"). Your resignation as President of the Company and each
of its subsidiaries is effective as of the Separation Date. You will continue to
serve as a director of the Company for either the remainder of your elected term
or until you voluntarily resign as a Director, but this Agreement reflects your
resignation from your position as a director of the Company's subsidiaries,
effective as of the Separation Date.

            2. If you have not revoked this Agreement within the time period set
forth in Section 14, your total and final compensation, payments and benefits
from the Company for your employment therewith (including payment for accrued
vacation, severance, etc.) shall be as follows (in each case less applicable
statutory deductions and withholdings):

                  (a) You have received your regular base salary through August
31, 2001, and you will be reimbursed for expenses in accordance with Company
policy.

                  (b) Within three days after the Effective Date (as defined
below), you will receive lump sum separation payments in the amounts of $283,333
(equal to current salary through January 31, 2003) and $1,100,000 (guaranteed
bonus as of December 31, 2002).

                  (c) Your stock options shall be treated as follows:

                      (i)   all non-qualified and incentive stock options
held by you by reason of the merger between Wit and SoundView, as shown on
Schedule 1 attached to this Agreement, shall be deemed fully vested as of the
next business day following the expiration of the revocation period set forth
below in Section 14 of this Agreement (the "Effective Date");

                      (ii)  87,500 of the $9.00 incentive stock options
granted to you on or about July 24, 2000 shall be deemed fully vested as of
the Effective Date;

                      (iii) 437,500 of the $5.00 incentive stock options
granted to you on or about January 24, 2001 shall be deemed fully vested as of
the Effective Date.

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                  For all of the stock options described above in this Section
3(c), you shall have one (1) year from the date of the Effective Date within
which to exercise any portion or all of such options. You shall be entitled to
exercise such options as provided in your stock option grant agreement, and as
available to Company employees generally from time to time (such as, at present,
cashless exercise through an E*Trade OptionsLink account).

                  You agree that two hundred sixty-two thousand five hundred
(262,500) shares of your $9.00 option grant dated July 24, 2000 and five hundred
sixty-two thousand five hundred (562,500) of your $5.00 option grant dated
January 24, 2001 shall remain unvested and shall be deemed cancelled as of the
Effective Date of this Agreement.

                  (d) You will continue to actively participate in all the
Company's benefit plans and programs until through the Separation Date, after
which time you will cease to be a participant thereunder in accordance with the
terms thereof. You retain your right to benefits you have earned and are
entitled to under specific terms of these plans through the Separation Date, and
you may have conversion privileges under some of these plans. Specific
information concerning these plans and your entitlements thereunder will be
forwarded to you separately.

                  (e) You and your immediate family are entitled to continue to
be covered under the Company's group medical insurance program for a period of
18 months from the Separation Date (or such longer period as may be required by
law) or until you experience a "COBRA" disqualifying event" (such as becoming
covered by any other group health plan), whichever occurs first. This continued
coverage shall be paid for by you. Specific information on this program will be
sent to you separately. Your coverage is governed by and subject to adjustment
in accordance with the terms of the documents governing the program.

                  (f) As of the Effective Date, the Company agrees to remove all
restrictions from and vest you completely in the 14,336 shares of Company common
stock held in your name in the Retention Pool described in Section 5.7 of the
Merger Agreement between Wit and SoundView. Within three (3) business days of
the Effective Date, the Company agrees to instruct its transfer agent to provide
you with a stock certificate evidencing your unrestricted and unencumbered
ownership of said 14,336 shares of Company stock.

            3. Other than as set forth herein, you will not receive any
compensation, payments or benefits of any kind from the Company or Releasees (as
that term is defined below), and you expressly acknowledge and agree that you
are not entitled to and will not receive any additional compensation, payments
or benefits of any kind from the Company or Releasees, and that no
representations or promises have been made to you to the contrary.

            4. You understand and agree that you are receiving compensation,
payments and/or benefits under this Agreement that are in excess of those to
which you are now or in the future may be entitled from the Company or
Releasees, and that such compensation, payments and benefits are being provided
to you in consideration for your acceptance and execution of, and in reliance
upon your representations in this Agreement, and you acknowledge that such
consideration is adequate and satisfactory to you.

            5. In exchange for the compensation, payments, benefits and other
consideration provided to you pursuant to this Agreement, you agree as follows:

                  (a) You agree to accept the compensation, payments, benefits
and other consideration provided for in this Agreement in full resolution and
satisfaction of, and hereby IRREVOCABLY AND UNCONDITIONALLY RELEASE, REMISE AND
FOREVER DISCHARGE the Company and Releasees

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from any and all agreements, promises, rights, liabilities, claims and demands
of any kind whatsoever, in law or equity, whether known or unknown, asserted or
unasserted, fixed or contingent, apparent or concealed, which you, your heirs,
executors, administrators, successors or assigns ever had, now have or hereafter
can, shall or may have for, upon, or by reason of any matter, cause or thing
whatsoever existing, accruing, arising or occurring at any time on or prior to
the date you execute this Agreement, including, without limitation, any and all
rights and claims arising out of or relating to your employment or separation
from employment with the Company, and any and all contract claims, benefit
claims, tort claims, fraud claims, claims for bonuses, defamation, disparagement
and other personal injury claims, claims under any federal, state or municipal
wage payment, discrimination or fair employment practices law, statute or
regulation and claims for costs, expenses and attorneys' fees with respect
thereto, except that the Company's obligations under this Agreement shall
continue in full force and effect in accordance with their terms. You further
agree that this Agreement shall act as a complete bar to any claim, demand or
action of any kind, whatsoever which could be brought by you against the Company
and Releasees, except for claims based on this Agreement, or the Employee
Agreement or the Indemnification Agreement as defined in Section 12 below. THIS
RELEASE AND WAIVER INCLUDES, WITHOUT LIMITATION, ANY AND ALL RIGHTS AND CLAIMS
UNDER TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, AS AMENDED, THE CIVIL RIGHTS
ACT OF 1991, THE CIVIL RIGHTS ACT OF 1866 (42 U.S.C. SS. 1981), THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT, AS AMENDED, THE AMERICANS WITH DISABILITIES ACT,
THE AGE DISCRIMINATION IN EMPLOYMENT ACT, THE FAIR LABOR STANDARDS ACT, THE
FAMILY AND MEDICAL LEAVE ACT, THE NEW YORK HUMAN RIGHTS LAW, AND ALL OTHER
FEDERAL, STATE OR LOCAL STATUTES, ORDINANCES, REGULATIONS OR CONSTITUTIONAL
PROVISIONS.

                  (b) For purposes of this Agreement, the term "the Company and
Releasees" includes the Company and their past, present and future direct and
indirect parents, subsidiaries, affiliates, divisions, predecessors, successors,
and assigns, and their respective past, present and future stockholders,
officers, directors, representatives, agents and employees, in their official
capacities, and all other related individuals and entities, jointly and
individually, and this Agreement shall inure to the benefit of and shall be
binding and enforceable by all such entities and individuals.

                  (c) It is expressly understood and agreed that this Agreement
shall act as a complete bar to any claim, demand or action of any kind
whatsoever brought by you or on your behalf against the Company and Releasees
including, without limitation, any claim, demand or action before a federal,
state or municipal court or any arbitration tribunal, except for claims, demands
or actions to enforce this Agreement, or the Employee Agreement or the
Indemnification Agreement as defined in Section 12 below.

            6.    In exchange for your execution of and agreement to be bound by
the terms of this Agreement, the Company agrees as follows:

                  (a) The Company agrees to accept your release provided in this
Agreement in full resolution and satisfaction of, and hereby IRREVOCABLY AND
UNCONDITIONALLY RELEASE, REMISE AND FOREVER DISCHARGE you, your heirs,
executors, successors and legal assigns from any and all agreements, promises,
rights, liabilities, claims and demands of any kind whatsoever, in law or
equity, whether known or unknown, asserted or unasserted, fixed or contingent,
apparent or concealed, which the Company ever had, now has or hereafter can,
shall or may have for, upon, or by reason of any matter, cause or thing
whatsoever existing, accruing, arising or occurring at any time on or prior to
the date the Company executes this Agreement, including, without limitation, any
and all rights and claims arising out of or relating to your employment, or
separation from employment with the Company, and any and all contract claims,
benefit claims, tort claims, fraud claims, claims for breach of covenants,
breach of fiduciary duty, misrepresentation, misappropriation of trade secrets,
tortious interference with business, defamation, disparagement and other
personal injury claims,

<Page>

claims under any federal, state or municipal wage payment, discrimination or
fair employment practices law, statute or regulation and claims for costs,
expenses and attorneys' fees with respect thereto, except that your obligations
under this Agreement shall continue in full force and effect in accordance with
their terms. The Company further agrees that this Agreement shall act as a
complete bar to any claim, demand or action of any kind, whatsoever which could
be brought by it against you, except for claims based on your role as a Director
of the Company. Notwithstanding the foregoing, in the event of a claim against
you based on your role as a Director, you shall retain all rights under your
Indemnification Agreement as defined in Section 12 below.

                  (b) It is expressly understood and agreed that this Agreement
shall act as a complete bar to any claim, demand or action of any kind
whatsoever brought by the Company, or on its behalf, against you, including,
without limitation, any claim, demand or action before a federal, state or
municipal court or any arbitration tribunal, except for claims, demands or
actions to enforce this Agreement.

            7.    Nothing contained in this Agreement shall be deemed to
constitute an admission or evidence of any wrongdoing or liability on the part
of you, the Company or Releasees, nor of any violation of any federal, state or
municipal statute, regulation or principle of common law or equity. You and the
Company each expressly deny any wrongdoing of any kind in regard to your
employment, or your separation from employment.

            8.    As further consideration for the compensation, payments,
benefits and other consideration provided to you pursuant to this Agreement, you
agree as follows:

                  (a) You agree that on the Separation Date you will return to
the Company all the Company property in your possession which includes, but is
not limited to any keys, credit cards, I.D. cards, etc., and any and all
original or duplicate copies of your work product and of files, calendars,
books, records, notes, notebooks, manuals, computer disks, diskettes and any
other magnetic and other media materials you have in your possession or under
your control belonging to the Company or Releasees or containing confidential or
proprietary information concerning the Company or Releasees or their officers,
directors, employees, consultants, customers or operations. You may retain
copies of such materials as approved by me.

                  (b) You agree that during the course of your employment with
the Company, you have had substantial access to trade secrets, copyrighted
materials, proprietary computer software and programs, and other confidential
and proprietary information and materials of or about the Company or Releasees
or their legal and business affairs, operations, officers, directors, employees,
consultants, vendors or customers (the "Confidential and Proprietary Information
and Materials"). Such Confidential and Proprietary Information and Materials
includes, without limitation, (i) marketing, promotional, advertising and
business plans, studies, data, programs and strategies; (ii) existing and new or
envisioned products; (iii) computer aided systems, software, strategies,
designs, programs and plans; (iv) information and materials concerning past,
present and prospective officers, directors, employees, consultants, customers,
vendors, suppliers and business partners; (v) information and materials
regarding past, present and prospective employment policies and procedures and
employee benefits plans, policies and programs; (vi) studies and analyses,
research and development projects and test data; (vii) marketing, sales,
pricing, costs, and other business and financial data and projections; and
(viii) information and materials developed from the foregoing information and
materials, the disclosure of which to competitors of the Company or others would
cause the Company to suffer substantial and irreparable damage. You recognize,
therefore, that it is in the Company's legitimate business interest to restrict
your disclosure of such Confidential and Proprietary Information and Materials
for any purposes other than as agreed to in writing by the Company and to
prohibit any potential appropriation of such Confidential and Proprietary
Information and Materials by you for the benefit of the Company's competitors or
to the detriment of the Company.

<Page>

                  (c) Unless you shall first secure the Company's written
consent, you shall not directly or indirectly publish, disclose, market, or
authorize, advise, hire, counsel or otherwise procure any other person or
entity, directly or indirectly, to publish, disclose or market, any Confidential
and Proprietary Information and Materials, including any Confidential and
Proprietary Information and Materials of which you became aware or informed
during your employment with the Company, whether such information is in your
memory or embodied in writing or other form, unless such information becomes
available to the public or to the Company's competitors other than as a result
of the disclosure thereof by you or by other wrongful disclosure. Such
Confidential and Proprietary Information and Materials are and shall continue to
be the exclusive proprietary property of the Company and Releasees, whether or
not they were disclosed to or developed in whole or in part by you.
Notwithstanding the foregoing, in the event you are requested pursuant to or
required by applicable law or regulation or by legal process (including, but not
limited to, oral questions, interrogatories, requests for information or
documents, subpoena, civil investigative demand or similar process) to disclose
any Confidential and Proprietary Information and Materials, you must immediately
notify the Company of such request or requirement so that the Company may seek
an appropriate protective order or waive compliance with the provisions of this
Section. You agree to cooperate with the Company in seeking any such protective
order.

                  (d) You will not make any statement or issue any
communication, written or otherwise, that disparages, criticizes or otherwise
reflects adversely or encourages any adverse action against the Company or
Releasees, except if testifying truthfully under oath pursuant to any lawful
court order or subpoena or otherwise responding to or providing disclosures
required by law. Similarly, the Company will not make any statement or issue any
communication, written or otherwise, that disparages, criticizes or otherwise
reflects adversely or encourages any adverse action against you, except if
testifying truthfully under oath pursuant to any lawful court order or subpoena
or otherwise responding to or providing disclosures required by law. The Company
also agrees to provide you on the Effective Date with a signed letter of
reference on its letterhead in a form that is mutually agreeable to you and the
Company. The Company further agrees not to make any statement or issue any
communication, written or otherwise, that is inconsistent with the information
set forth in such letter of reference, except if testifying truthfully under
oath pursuant to any lawful court order or subpoena or otherwise responding to
or providing disclosures required by law.

                  (e) You acknowledge and agree that the Company and Releasees
will suffer immediate, substantial damages not readily ascertainable or
compensable in terms of money in the event of the breach of any of your
obligations under this Section of this Agreement, and that the Company and
Releasees shall therefore be entitled (without limitation of any other rights or
remedies otherwise available to the Company and Releasees) to obtain temporary,
preliminary and other appropriate injunctive relief from any court of competent
jurisdiction prohibiting the continuance or recurrence of any such breach.

            9.    This Agreement may not be changed orally, and no modification,
amendment or waiver of any of the provisions contained in this Agreement, nor
any future representation, promise or condition in connection with the subject
matter of this Agreement, shall be binding upon any party hereto unless made in
writing and signed by such party.

            10.   This Agreement shall be subject to and governed by and
interpreted in accordance with the laws of the State of New York without regard
to conflicts of law principles. In any dispute arising from or related to this
Agreement, the parties agree to submit to final and binding arbitration before a
single arbitrator in Stamford, Connecticut under the Employment Dispute
Resolution Rules then in effect of the American Arbitration Association and to
waive their right to a trial by jury. The parties also agree that attorneys'
fees and costs shall be awarded by the arbitrator to the prevailing party.

            11.   This Agreement shall inure to the benefit of and shall be
binding upon (i) the Company, its successors and assigns, and any company with
which the Company may merge or consolidate or to which the

<Page>

Company may sell all or substantially all its assets, and (ii) you and your
executors, administrators, heirs and legal representatives. You may not sell
or otherwise assign your rights, obligations or benefits under this Agreement
and any attempt to do so shall be void.

            12.   (a) This Agreement terminates and supersedes all prior and
contemporaneous agreements between you and the Company, including but not
limited to your employment agreement dated January 31, 2000, but specifically
excluding the Employee Non-Disclosure, Non-Competition and Assignment of
Inventions Agreement dated as of October 16, 1999 (the "Employee Agreement") and
your Indemnification Agreement dated as of February 1, 2000 (the
"Indemnification Agreement"). You will continue to enjoy the benefits of the
Indemnification Agreement to the fullest extent provided for therein, and to be
covered by Directors and Officers Liability insurance as provided in any policy
therefore maintained by the Company from time to time (including the policy
currently in effect, No. 858-71-43 with National Union Fire Insurance Company of
Pittsburgh, Pennsylvania).

                  (b) The Company acknowledges that the Employee Agreement shall
not operate as a bar or otherwise prohibit you as of or after the Effective Date
from soliciting, enticing or inducing Customers or Suppliers of the Company to
do business with an asset management firm, provided that such asset management
firm does not also provide investment banking or broker-dealer services that are
competitive to the Company.

                  (c) Aside from the Employee Agreement and the Indemnification
Agreement, all prior and contemporaneous discussions and negotiations have been
and are merged and integrated into, and are superseded by, this Agreement. No
waiver by either party of any provision or condition of this Agreement at any
time shall be deemed a waiver of such provision or condition at any prior or
subsequent time or of any other provision or condition at the same or any prior
or subsequent time. All defined terms in this Agreement apply equally to the
singular and plural forms thereof.

            13.   In the event any provision of this Agreement shall be held to
be void, voidable, unlawful or, for any reason, unenforceable, the remaining
portions shall remain in full force and effect. The unenforceability or
invalidity of a provision of this Agreement in one jurisdiction shall not
invalidate or render that provision unenforceable in any other jurisdiction.

            14.   BY SIGNING THIS AGREEMENT, YOU CERTIFY THAT YOU HAVE READ THE
TERMS OF THIS AGREEMENT, AND THAT YOUR EXECUTION OF THIS AGREEMENT SHALL
INDICATE THAT THIS AGREEMENT CONFORMS TO YOUR UNDERSTANDINGS AND IS ACCEPTABLE
TO YOU AS A FINAL AGREEMENT. YOU FURTHER ACKNOWLEDGE AND AGREE THAT, PURSUANT TO
SECTION 6 ABOVE, BY SIGNING THIS AGREEMENT, YOU WAIVE AND RELEASE ANY AND ALL
CLAIMS YOU MAY HAVE OR HAD AGAINST THE COMPANY AND RELEASEES, INCLUDING, WITHOUT
LIMITATION, CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT. YOU FURTHER
ACKNOWLEDGE AND AGREE THAT YOU HAVE BEEN ADVISED OF THE OPPORTUNITY TO CONSULT
WITH COUNSEL OF YOUR CHOICE AND THAT YOU HAVE BEEN GIVEN A REASONABLE AND
SUFFICIENT PERIOD OF TIME OF NOT LESS THAN TWENTY-ONE (21) DAYS IN WHICH TO
CONSIDER AND RETURN THIS AGREEMENT. YOU FURTHER ACKNOWLEDGE AND AGREE THAT UPON
YOUR EXECUTION AND RETURN OF THIS AGREEMENT, YOU WILL BE PERMITTED TO REVOKE
THIS AGREEMENT AT ANY TIME DURING A PERIOD OF SEVEN (7) CALENDAR DAYS FOLLOWING
YOUR EXECUTION HEREOF. TO BE EFFECTIVE, THE REVOCATION MUST BE IN WRITING AND
MUST BE HAND-DELIVERED OR TELECOPIED TO THE COMPANY WITHIN THE SEVEN (7) DAY
PERIOD. THIS AGREEMENT WILL NOT BE EFFECTIVE AND FINAL UNTIL THE SEVEN (7) DAY
PERIOD HAS EXPIRED. IF THE AGREEMENT IS REVOKED WITHIN THE AFOREMENTIONED SEVEN
(7) DAY PERIOD, THIS AGREEMENT WILL BE OF NO FURTHER FORCE OR EFFECT, AND
NEITHER YOU NOR THE COMPANY WILL HAVE ANY RIGHTS OR OBLIGATIONS HEREUNDER.

<Page>

                              Sincerely,

                              SoundView Technology Group, Inc.

                              By:
                                  --------------------------------  ------------
                                   Mark F. Loehr                    Date
                                   Its Chief Executive Officer

BY SIGNING THIS AGREEMENT, YOU ACKNOWLEDGE THAT YOU ARE COMPETENT, THAT YOU HAVE
BEEN AFFORDED A TIME PERIOD OF 21 DAYS TO REVIEW AND CONSIDER THIS AGREEMENT
WITH AN ATTORNEY OF YOUR CHOICE, THAT SUCH TIME PERIOD IS A REASONABLE AND
SUFFICIENT TIME FOR SUCH REVIEW, THAT YOU HAVE READ, UNDERSTAND AND ACCEPT THIS
AGREEMENT AS FULLY AND FINALLY WAIVING ANY AND ALL CLAIMS, DEMANDS, DISPUTES AND
DIFFERENCES OF ANY KIND WHATSOEVER WHICH YOU MAY HAVE HAD OR NOW HAVE AGAINST
THE COMPANY, THAT NO REPRESENTATIONS, PROMISES OR INDUCEMENTS HAVE BEEN MADE TO
YOU EXCEPT AS SET FORTH IN THIS AGREEMENT, AND THAT YOU HAVE SIGNED THIS
AGREEMENT FREELY AND VOLUNTARILY, INTENDING TO BE LEGALLY BOUND BY ITS TERMS,
AND WITH FULL UNDERSTANDING OF ITS CONSEQUENCES.

__________________________________        Date:__________________
Russell Crabs

I acknowledge that I have read
this Agreement and that I understand
and voluntarily accept its terms.

WITNESSED BY:  __________________

<Page>

                                   SCHEDULE 1

                                  Russell Crabs

<Table>
<Caption>

              OPTION    OPTION
              NUMBER    DATE    PLAN/TYPE  SHARES      PRICE  EXERCISED VESTED    CANCELLED UNVESTED    OUTSTANDING  EXERCISABLE
              ------    ----    ---------  ------      -----  --------- -----     --------- --------    -----------  -----------
<S>                        <C>               <C>       <C>        <C>    <C>           <C>    <C>         <C>          <C>
              LG000015     1/31/00SV95/NQ      83,197  $0.69        0     83,197        0           0       83,197      83,197
              00001578     1/31/00SV95/NQ      61,531  $1.10        0     30,765        0      30,766       61,531      30,765
              LG000154     1/31/00SV95/NQ      38,684  $1.10        0     38,684        0           0       38,684      38,684
              00001378     1/31/00SV95/NQ      26,953  $1.54        0     26,953        0           0       26,953      26,953
              00001404     1/31/00SV95/NQ     198,724  $1.63        0     99,360        0      99,364      198,724      99,360
              00001431     1/31/00SV95/NQ      25,364  $1.66        0     25,364        0           0       25,364      25,364
                                                                          ------        -           -       ------      ------
Total NQ                                                                 304,323        0     130,130      434,453     304,323

              00001577     1/31/00SV95/ISO     29,783  $1.10        0     14,892        0      14,891       29,783      14,892
              LG000153     1/31/00SV95/ISO     52,630  $1.10        0     52,630        0           0       52,630      52,630
              00001377     1/31/00SV95/ISO     53,910  $1.54        0     13,478        0      40,432       53,910      13,478
              00001430     1/31/00SV95/ISO     50,731  $1.66        0     12,683        0      38,048       50,731      12,683
              LG000039     1/31/00SV95/ISO     25,365  $1.66        0     25,365        0           0       25,365      25,365
                                                                          ------        -           -       ------      ------
Total ISO                                                                119,048        0      93,371      212,419     119,048
</Table>Prepared by MERRILL CORPORATION

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EXHIBIT 4.1    
  

POLYCOM, INC.  

 2001 NONSTATUTORY STOCK OPTION PLAN  

    1.  Purposes of the Plan.  The purposes of this Nonstatutory Stock Option Plan are: 

	•
	to
attract and retain the best available personnel for positions of substantial responsibility,

	•
	to
provide additional incentive to Employees, Directors and Consultants, and

	•
	to
promote the success of the Company's business. 

    Options
granted under the Plan will be Nonstatutory Stock Options. 

    2.  Definitions.  As used herein, the following definitions shall apply: 

    (a) "Administrator" means the Board or any of its Committees as shall be administering the Plan, in accordance with
Section 4 of the Plan. 

    (b) "Applicable Laws" means the requirements relating to the administration of stock option plans under U.S. state
corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of any foreign country or
jurisdiction where Options are, or will be, granted under the Plan. 

    (c) "Board" means the Board of Directors of the Company. 

    (d) "Code" means the Internal Revenue Code of 1986, as amended. 

    (e) "Committee" means a committee of Directors appointed by the Board in accordance with Section 4 of the Plan. 

    (f)  "Common Stock" means the Common Stock of the Company. 

    (g) "Company" means Polycom, Inc. a Delaware corporation. 

    (h) "Consultant" means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render
services to such entity. 

    (i)  "Director" means a member of the Board. 

    (j)  "Disability" means total and permanent disability as defined in Section 22(e)(3) of the Code. 

    (k) "Employee" means any person, including Officers, employed by the Company or any Parent or Subsidiary of the Company.
A Service Provider shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the
Company, its Parent, any Subsidiary, or any successor. Neither service as a Director nor payment of a director's fee by the Company shall be sufficient to constitute "employment" by the Company. 

    (l)  "Exchange Act" means the Securities Exchange Act of 1934, as amended. 

    (m) "Fair Market Value" means, as of any date, the value of Common Stock determined as follows: 

     (i) If
the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq National Market or The Nasdaq
SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system
for the last market trading day prior to the time of determination, as reported in The Wall Street Journal or such other source as the Administrator
deems reliable; 

 

    (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share of Common Stock
shall be the mean between the high bid and low asked prices for the Common Stock on the last market trading day prior to the day of determination, as reported in The Wall
Street Journal or such other source as the Administrator deems reliable; 

    (iii) In
the absence of an established market for the Common Stock, the Fair Market Value shall be determined in good faith by the Administrator. 

    (n) "Notice of Grant" means a written or electronic notice evidencing certain terms and conditions of an individual
Option grant. The Notice of Grant is part of the Option Agreement. 

    (o) "Officer" means a person who is an officer of the Company within the meaning of Section 16 of the Exchange
Act and the rules and regulations promulgated thereunder. 

    (p) "Option" means a nonstatutory stock option granted pursuant to the Plan, that is not intended to qualify as an
incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder. 

    (q) "Option Agreement" means an agreement between the Company and an Optionee evidencing the terms and conditions of an
individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan. 

    (r) "Option Exchange Program" means a program whereby outstanding options are surrendered in exchange for options with a
lower exercise price. 

    (s) "Optioned Stock" means the Common Stock subject to an Option. 

    (t)  "Optionee" means the holder of an outstanding Option granted under the Plan. 

    (u) "Parent" means a "parent corporation," whether now or hereafter existing, as defined in Section 424(e) of the
Code. 

    (v) "Plan" means this 2001 Nonstatutory Stock Option Plan. 

    (w) "Service Provider" means an Employee including an Officer, Consultant or Director. 

    (x) "Share"
means a share of the Common Stock, as adjusted in accordance with Section 12 of the Plan. 

    (y) "Subsidiary" means a "subsidiary corporation," whether now or hereafter existing, as defined in
Section 424(f) of the Code. 

    3.  Stock Subject to the Plan.  Subject to the provisions of Section 12 of the Plan, the maximum
aggregate number of Shares which may be optioned and sold under the Plan is Seven Hundred and Fifty Thousand (750,000) Shares. The Shares may be authorized, but unissued, or reacquired Common Stock. 

    If
an Option expires or becomes unexercisable without having been exercised in full, or is surrendered pursuant to an Option Exchange Program, the unpurchased Shares which were
subject thereto shall become available for future grant or sale under the Plan (unless the Plan has terminated). 

    4.  Administration of the Plan.  

    (a)  Administration.  The Plan shall be administered by (i) the Board or (ii) a Committee,
which committee shall be constituted to satisfy Applicable Laws. 

2

 

    (b)  Powers of the Administrator.  Subject to the provisions of the Plan, and in the case of a Committee,
subject to the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its discretion: 

     (i) to
determine the Fair Market Value of the Common Stock; 

    (ii) to
select the Service Providers to whom Options may be granted hereunder; 

    (iii) to
determine whether and to what extent Options are granted hereunder; 

    (iv) to
determine the number of shares of Common Stock to be covered by each Option granted hereunder; 

    (v) to
approve forms of agreement for use under the Plan; 

    (vi) to
determine the terms and conditions, not inconsistent with the terms of the Plan, of any award granted hereunder. Such terms and conditions include, but are not
limited to, the exercise price, the time or times when Options may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any
restriction or limitation regarding any Option or the shares of Common Stock relating thereto, based in each case on such factors as the Administrator, in its sole discretion, shall determine; 

   (vii) to
reduce the exercise price of any Option to the then current Fair Market Value if the Fair Market Value of the Common Stock covered by such Option shall have
declined since the date the Option was granted; 

   (viii) to
institute an Option Exchange Program; 

    (ix) to
construe and interpret the terms of the Plan and awards granted pursuant to the Plan; 

    (x) to
prescribe, amend and rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the
purpose of qualifying for preferred tax treatment under foreign tax laws; 

    (xi) to
modify or amend each Option (subject to Section 14(b) of the Plan), including the discretionary authority to extend the post-termination
exercisability period of Options longer than is otherwise provided for in the Plan; 

   (xii) to
authorize any person to execute on behalf of the Company any instrument required to effect the grant of an Option previously granted by the Administrator; 

   (xiii) to
determine the terms and restrictions applicable to Options; 

   (xiv) to
allow Optionees to satisfy withholding tax obligations by electing to have the Company withhold from the Shares to be issued upon exercise of an Option that
number of Shares having a Fair Market Value equal to the amount required to be withheld. The Fair Market Value of the Shares to be withheld shall be determined on the date that the amount of tax to be
withheld is to be determined. All elections by an Optionee to have Shares withheld for this purpose shall be made in such form and under such conditions as the Administrator may deem necessary or
advisable; and 

   (xv) to
make all other determinations deemed necessary or advisable for administering the Plan. 

    (c)  Effect of Administrator's Decision.  The Administrator's decisions, determinations and
interpretations shall be final and binding on all Optionees and any other holders of Options. 

3

 

    5.  Eligibility.  Options may be granted to Service Providers; provided, however, that notwithstanding
anything to the contrary contained in the Plan, Options may not be granted to Officers and Directors. 

    6.  Limitation.  Neither the Plan nor any Option shall confer upon an Optionee any right with respect to
continuing the Optionee's relationship as a Service Provider with the Company, nor shall they interfere in any way with the Optionee's right or the Company's right to terminate such relationship at
any time, with or without cause. 

    7.  Term of Plan.  The Plan shall become effective upon its adoption by the Board. It shall continue in
effect for ten (10) years, unless sooner terminated under Section 14 of the Plan. 

    8.  Term of Option.  The term of each Option shall be stated in the Option Agreement. 

    9.  Option Exercise Price and Consideration.  

    (a)  Exercise Price.  The per share exercise price for the Shares to be issued pursuant to exercise of an
Option shall be determined by the Administrator. 

    (b)  Waiting Period and Exercise Dates.  At the time an Option is granted, the Administrator shall fix
the period within which the Option may be exercised and shall determine any conditions which must be satisfied before the Option may be exercised. 

    (c)  Form of Consideration.  The Administrator shall determine the acceptable form of consideration for
exercising an Option, including the method of payment. Such consideration may consist entirely of: 

     (i) cash;

    (ii) check;

    (iii) promissory
note; 

    (iv) other
Shares which (A) in the case of Shares acquired upon exercise of an option, have been owned by the Optionee for more than six months on the date of
surrender, and (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised; 

    (v) consideration
received by the Company under a cashless exercise program implemented by the Company in connection with the Plan; 

    (vi) a
reduction in the amount of any Company liability to the Optionee, including any liability attributable to the Optionee's participation in any Company-sponsored
deferred compensation program or arrangement; 

   (vii) such
other consideration and method of payment for the issuance of Shares to the extent permitted by Applicable Laws; or 

   (viii) any
combination of the foregoing methods of payment. 

4

 
    10.  Exercise of Option.  

    (a)  Procedure for Exercise; Rights as a Stockholder.  Any Option granted hereunder shall be exercisable
according to the terms of the Plan and at such times and under such conditions as determined by the Administrator and set forth in the Option Agreement. An Option may not be exercised for a fraction
of a Share. 

    An
Option shall be deemed exercised when the Company receives: (i) written or electronic notice of exercise (in accordance with the Option Agreement) from the person entitled
to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised. Full payment may consist of any consideration and method of payment authorized by the
Administrator and permitted by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of the Optionee or, if requested by the Optionee, in the name of
the Optionee and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to
vote or receive dividends or any other rights as a stockholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause to be
issued) such Shares promptly after the Option is exercised. No adjustment will be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as
provided in Section 12 of the Plan. 

    Exercising
an Option in any manner shall decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to
which the Option is exercised. 

    (b)  Termination of Relationship as a Service Provider.  If an Optionee ceases to be a Service Provider,
other than upon the Optionee's death or Disability, the Optionee may exercise his or her Option, but only within such period of time as is specified in the Option Agreement, and only to the extent
that the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in
the Option Agreement, the Option shall remain exercisable for three (3) months following the Optionee's termination. If, on the date of termination, the Optionee is not vested as to his or her
entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the time specified by
the Administrator, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 

    (c)  Disability of Optionee.  If an Optionee ceases to be a Service Provider as a result of the
Optionee's Disability, the Optionee may exercise his or her Option within such period of time as is specified in the
Option Agreement, to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the
absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee's termination. If, on the date of termination, the
Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or
her Option within the time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 

    (d)  Death of Optionee.  If an Optionee dies while a Service Provider, the Option may be exercised within
such period of time as is specified in the Option Agreement (but in no event later than the expiration of the term of such Option as set forth in the Notice of Grant), by the Optionee's estate or by a
person who acquires the right to exercise the Option by bequest or inheritance, but only to the extent that the Option is vested on the date of death. In the absence of a specified time in the Option
Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee's termination. If, at the time of death, the Optionee is not 

5

 

vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall immediately revert to the Plan. The Option may be exercised by the executor or administrator of
the Optionee's estate or, if none, by the person(s) entitled to exercise the Option under the Optionee's will or the laws of descent or distribution. If the Option is not so exercised within the time
specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 

    (e)  Buyout Provisions.  The Administrator may at any time offer to buy out for a payment in cash or
Shares, an Option previously granted based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that such offer is made. 

    11.  Non-Transferability of Options.  Unless determined otherwise by the Administrator, an
Option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the
lifetime of the Optionee, only by the Optionee. If the Administrator makes an Option transferable, such Option shall contain such additional terms and conditions as the Administrator deems
appropriate. 

    12.  Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset Sale.  

    (a)  Changes in Capitalization.  Subject to any required action by the stockholders of the Company, the
number of shares of Common Stock covered by each outstanding Option, and the number of shares of Common Stock which have been authorized for issuance under the Plan but as to which no Options have yet
been granted or which have been returned to the Plan upon cancellation or expiration of an
Option, as well as the price per share of Common Stock covered by each such outstanding Option, shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common
Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of Common
Stock effected without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been "effected without
receipt of consideration." Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by
the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or
price of shares of Common Stock subject to an Option. 

    (b)  Dissolution or Liquidation.  In the event of the proposed dissolution or liquidation of the Company,
the Administrator shall notify each Optionee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for an Optionee to have
the right to exercise his or her Option until ten (10) days prior to such transaction as to all of the Optioned Stock covered thereby, including Shares as to which the Option would not
otherwise be exercisable. In addition, the Administrator may provide that any Company repurchase option applicable to any Shares purchased upon exercise of an Option shall lapse as to all such Shares,
provided the proposed dissolution or liquidation takes place at the time and in the manner contemplated. To the extent it has not been previously exercised, an Option will terminate immediately prior
to the consummation of such proposed action. 

    (c)  Merger or Asset Sale.  In the event of a merger of the Company with or into another corporation, or
the sale of substantially all of the assets of the Company, each outstanding Option shall be assumed or an equivalent option or right substituted by the successor corporation or a Parent or Subsidiary
of the successor corporation. In the event that the successor corporation refuses to assume or substitute for the Option, the Optionee shall fully vest in and have the right to exercise the Option as
to all of the Optioned Stock, including Shares as to which it would not otherwise be vested or exercisable. If an Option becomes fully vested and exercisable in lieu of 

6

 

assumption or substitution in the event of a merger or sale of assets, the Administrator shall notify the Optionee in writing or electronically that the Option shall be fully vested and exercisable
for a period of fifteen (15) days from the date of such notice, and the Option shall terminate upon the expiration of such period. For the purposes of this paragraph, the Option shall be
considered assumed if, following the merger or sale of assets, the option or right confers the right to purchase or receive, for each Share of Optioned Stock, immediately prior to the merger or sale
of assets, the consideration (whether stock, cash, or other securities or property) received in the merger or sale of assets by holders of Common Stock for each Share held on the effective date of the
transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares); provided, however, that if such
consideration received in the merger or sale of assets is not solely common stock of the successor corporation or its Parent, the Administrator may, with the consent of the successor corporation,
provide for the consideration to be received upon the exercise of the Option, for each Share of Optioned Stock to be solely common stock of the successor corporation
or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the merger or sale of assets. 

    13.  Date of Grant.  The date of grant of an Option shall be, for all purposes, the date on which the
Administrator makes the determination granting such Option, or such other later date as is determined by the Administrator. Notice of the determination shall be provided to each Optionee within a
reasonable time after the date of such grant. 

    14.  Amendment and Termination of the Plan.  

    (a)  Amendment and Termination.  The Board may at any time amend, alter, suspend or terminate the Plan. 

    (b)  Effect of Amendment or Termination.  No amendment, alteration, suspension or termination of the Plan
shall impair the rights of any Optionee, unless mutually agreed otherwise between the Optionee and the Administrator, which agreement must be in writing and signed by the Optionee and the Company.
Termination of the Plan shall not affect the Administrator's ability to exercise the powers granted to it hereunder with respect to options granted under the Plan prior to the date of such
termination. 

    15.  Conditions Upon Issuance of Shares.  

    (a)  Legal Compliance.  Shares shall not be issued pursuant to the exercise of an Option unless the
exercise of such Option and the issuance and delivery of such Shares shall comply with Applicable Laws and shall be further subject to the approval of counsel for the Company with respect to such
compliance. 

    (b)  Investment Representations.  As a condition to the exercise of an Option the Company may require the
person exercising such Option to represent and warrant at the time of any such exercise that the Shares are being purchased only for investment and without any present intention to sell or distribute
such Shares if, in the opinion of counsel for the Company, such a representation is required. 

    16.  Inability to Obtain Authority.  The inability of the Company to obtain authority 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. 

    17.  Reservation of Shares.  The Company, during the term of this Plan, will at all times reserve and
keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. 

7

POLYCOM, INC.

2001 NONSTATUTORY STOCK OPTION PLAN

STOCK OPTION AGREEMENT  

    Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Option Agreement. 

	I.
	NOTICE OF STOCK OPTION GRANT

    [Optionee's Name and Address]

    You
have been granted an option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Option Agreement, as follows: 

	Grant Number	 	 
	 	 	

	

Date of Grant	
 	

 
	 	 	

	

Vesting Commencement Date	
 	

 
	 	 	

	

Exercise Price per Share	
 	

$
	 	 	

	

Total Number of Shares Granted	
 	

 
	 	 	

	

Total Exercise Price	
 	

$
	 	 	

	

Type of Option:	
 	

Nonstatutory Stock Option
	

Term/Expiration Date:	
 	

 
	 	 	

Vesting Schedule:  

    Subject to the Optionee continuing to be a Service Provider on such dates, this Option shall vest and become exercisable in accordance with the following
schedule: 

    [25% of the Shares subject to the Option shall vest twelve months after the Vesting Commencement Date, and 1/48th of the Shares subject to the
Option shall vest upon the last day of each month thereafter.]

Termination Period:  

    This Option may be exercised for [three (3) months] after Optionee ceases to be
a Service Provider. Upon the death or Disability of the Optionee, this Option may be exercised for such longer period as provided in the Plan. In no event shall this Option be exercised later than the
Term/Expiration Date as provided above. 

	II.
	AGREEMENT

    1.  Grant of Option.  The Plan Administrator of the Company hereby grants to the Optionee named in the
Notice of Grant attached as Part I of this Agreement (the "Optionee") an option (the "Option") to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per
share set forth in the Notice of Grant (the "Exercise Price"), subject to the terms and conditions of the Plan, which is incorporated herein by reference. Subject to Section 14(b) of the Plan,
in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall prevail. 

    2.  Exercise of Option.  

    (a)  Right to Exercise.  This Option is exercisable during its term in accordance with the Vesting
Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option Agreement. 

 

    (b)  Method of Exercise.  This Option is exercisable by delivery of an exercise notice, in the form
attached as Exhibit A (the "Exercise Notice"), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the "Exercised
Shares"), and such other representations and agreements as may be required by the Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee and delivered
to Stock Administration. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all Exercised Shares. This Option shall be deemed to be exercised upon receipt by the
Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. 

    No
Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with Applicable Laws. Assuming such compliance, for income tax purposes
the Exercised Shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such Exercised Shares. 

    3.  Method of Payment.  Payment of the aggregate Exercise Price shall be by any of the following, or a
combination thereof, at the election of the Optionee: 

    (a) cash;

    (b) check;

    (c) consideration
received by the Company under a cashless exercise program implemented by the Company in connection with the Plan; or 

    (d) surrender
of other Shares which (i) in the case of Shares acquired upon exercise of an option, have been owned by the Optionee for more than six
(6) months on the date of surrender, and (ii) have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of
the Exercised Shares. 

    4.  Non-Transferability of Option.  This Option may not be transferred in any manner
otherwise than by will or by the laws of descent or distribution and may be exercised during the lifetime of Optionee only by the Optionee. The terms of the Plan and this Option Agreement shall be
binding upon the executors, administrators, heirs, successors and assigns of the Optionee. 

    5.  Term of Option.  This Option may be exercised only within the term set out in the Notice of Grant,
and may be exercised during such term only in accordance with the Plan and the terms of this Option Agreement. 

    6.  Tax Consequences.  Some of the federal tax consequences relating to this Option, as of the date of
this Option, are set forth below. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS
OPTION OR DISPOSING OF THE SHARES. 

    (a)  Exercising the Option.  The Optionee may incur regular federal income tax liability upon exercise of
an NSO. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Exercised Shares on the
date of exercise over their aggregate Exercise Price. If the Optionee is an Employee or a former Employee, the Company will be required to withhold from his or her compensation or collect from
Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to
deliver Shares if such withholding amounts are not delivered at the time of exercise. 

2

 

    (b)  Disposition of Shares.  If the Optionee holds NSO Shares for at least one year, any gain realized on
disposition of the Shares will be treated as long-term capital gain for federal income tax purposes. 

    7.  Entire Agreement; Governing Law.  The Plan is incorporated herein by reference. The Plan and this
Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and
Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee's interest except by means of a writing signed by the Company and Optionee. This agreement is
governed by the internal substantive laws, but not the choice of law rules, of California. 

    8.  NO GUARANTEE OF CONTINUED SERVICE.  OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES
PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING
SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR
IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE WITH OPTIONEE'S RIGHT OR THE COMPANY'S RIGHT TO TERMINATE
OPTIONEE'S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 

    By
your signature and the signature of the Company's representative below, you and the Company agree that this Option is granted under and governed by the terms and conditions of the
Plan and this Option Agreement. Optionee has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option
Agreement and fully understands all provisions of the Plan and Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator
upon any questions relating to the Plan and Option Agreement. Optionee further agrees to notify the Company upon any change in the residence address indicated below. 

	OPTIONEE	 	POLYCOM, INC.
	

 Signature	
 	

 By
	

 Print Name	
 	

 Title
	

 Residence Address	
 	

 
	

	
 	

 

3

EXHIBIT A  

POLYCOM, INC.

2001 NONSTATUTORY STOCK OPTION PLAN

EXERCISE NOTICE  

Polycom, Inc.

1565 Barber Lane

Milpitas, CA 95035 

Attention:
Stock Administration 

    1.  Exercise of Option.  Effective as of today,            ,      , the undersigned
("Purchaser") hereby elects to purchase            shares (the "Shares") of the Common Stock of Polycom, Inc. (the "Company") under and pursuant to the 2001 Nonstatutory Stock Option
Plan (the "Plan") and the Stock Option Agreement dated,            ,  (the "Option Agreement"). The purchase price for the Shares shall be $, as required by the Option
Agreement. 

    2.  Delivery of Payment.  Purchaser herewith delivers to the Company the full purchase price for the
Shares. 

    3.  Representations of Purchaser.  Purchaser acknowledges that Purchaser has received, read and
understood the Plan and the Option Agreement and agrees to abide by and be bound by their terms and conditions. 

    4.  Rights as Stockholder.  Until the issuance (as evidenced by the appropriate entry on the books of the
Company or of a duly authorized transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the Optioned Stock,
notwithstanding the exercise of the Option. The Shares so acquired shall be issued to the Optionee as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or
other right for which the record date is prior to the date of issuance, except as provided in Section 12 of the Plan. 

    5.  Tax Consultation.  Purchaser understands that Purchaser may suffer adverse tax consequences as a
result of Purchaser's purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection with the purchase or
disposition of the Shares and that Purchaser is not relying on the Company for any tax advice. 

    6.  Entire Agreement; Governing Law.  The Plan and Option Agreement are incorporated herein by reference.
This Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and
agreements of the Company and Purchaser with respect to the subject matter hereof, and may not be modified adversely to the Purchaser's interest except by means of a writing signed by 

 

the Company and Purchaser. This agreement is governed by the internal substantive laws, but not the choice of law rules, of California. 

	Submitted by:	 	Accepted by:
	

PURCHASER	
 	

POLYCOM, INC.
	

 Signature	
 	

 By
	

 Print Name	
 	

 Title
	

 	
 	

 	
 	

 Date Received
	
Address:	
 	

	
 	
Address:	
 	

Polycom, Inc.
	

 	
 	

	
 	

 	
 	

1565 Barber Lane
	

 	
 	

	
 	

 	
 	

Milpitas, CA 95035

2

QuickLinks

EXHIBIT 4.1

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