Document:

Amendment and Waiver to the Executive Employment Agreement

 Exhibit 10.1 
 AMENDMENT AND WAIVER TO 
 EXECUTIVE EMPLOYMENT AGREEMENT 

THIS AMENDMENT to the Executive Employment Agreement dated as of April 20, 2011 (the “Employment Agreement”) by and
between P.F. Chang’s China Bistro, Inc. (“Company”) and Lane Cardwell (“Executive”), dated as of May 23,2012 (the “Amendment Date”), shall be effective as of May 17, 2012. 

WHEREAS, Company and Executive are parties to the Employment Agreement; and 

WHEREAS, the parties agree that Executive shall step down from the position of President of the China Bistro concept but shall remain
employed by Company in an executive capacity under new terms and conditions and wish to amend the Employment Agreement to reflect such changes. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Company and Executive
hereby agree as follows: 
 1. Section 1 of the Employment Agreement shall be deleted in its entirety and the following
substituted in its place: 
 “1. Employment. Company hereby agrees to continue to employ Executive in
an executive capacity and Executive hereby accepts such employment, upon the terms and conditions set forth herein.” 
 2.
Section 2.1 of the Employment Agreement shall be deleted in its entirety and the following substituted in its place: 
 “2.1 Position. Executive is employed in an executive capacity reporting directly to Company’s Chief Executive Officer and having such duties and responsibilities as may be reasonably
assigned by Company from time to time. Executive shall perform faithfully and diligently all duties assigned to Executive. Company reserves the right to modify Executive’s position and duties at any time in its sole and absolute
discretion.” 
 3. Section 3 of the Employment Agreement shall be deleted in its entirety and the following
substituted in its place: 
 “3. Term. The employment relationship pursuant to this Agreement shall
be for a term commencing on May 17, 2012 and continuing until May 17, 2013 (the “Term”) unless sooner terminated in accordance with Section 7.” 
 4. Section 4.2 of the Employment Agreement shall be deleted in its entirety and the following substituted in its place. 

“4.2 Relocation Expenses. Executive shall be eligible to receive reimbursement for the reasonable and appropriate
expenses of relocation incurred in calendar year 2012 up to a maximum of $50,000; provided that Executive submits a request for payment (including invoices evidencing such expenses) within sixty (60) days following the date the
expenses were incurred and Company pays Executive the amount specified in such request within thirty (30) days following the date it is received.” 
 5. Section 7 of the Employment Agreement shall be deleted in its entirety and the following substituted in its place: 

“7. Termination of Executive’s Employment. Either party may terminate Executive’s employment under
this Agreement at any time. 

 (a) Termination Without Cause. In the event Executive’s
employment is terminated by Company without Cause, Executive shall be entitled to receive: 
 (i) continued
payments of his Base Salary for the remainder of the Term payable in accordance with the normal payroll practices of Company as in effect from time to time; provided that the first installment shall be made on the next regularly scheduled
payroll date of the Company following the thirtieth (30th) day after the effective date of Executive’s termination and shall include payment of any amounts that would otherwise be due prior thereto; 

(ii) payment of Company’s share of the premiums required to continue Executive’s group health care coverage for
the remainder of the Term under the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”); provided that Executive elects to continue and remains eligible for these benefits under
COBRA, and does not obtain health coverage through another employer during this period; and 
 (iii)
reimbursement for the reasonable and appropriate expenses of relocation incurred in calendar year 2012 up to a maximum amount equal to $50,000 minus the amount of any prior reimbursements under Section 4.2; provided that Executive
submits a request for payment (including invoices evidencing such expense) within sixty (60) days following the date such expenses are incurred and Company pays Executive the amount specified in such request within thirty (30) days
following the date it is received; 
 provided that Executive shall be eligible to receive (or continue to receive) the
payments and benefits described in (i), (ii) and (ii) so long as Executive: (x) complies with all surviving provisions of this Agreement as specified in subsection 14.8 below and (y) executes and delivers to Company within
twenty-two (22) days following the effective date of Executive’s termination and does not revoke (within the applicable revocation period specified therein) a full general release in the form attached hereto as Exhibit A;
provided further that, if necessary, such general release may be updated and revised by Company to comply with applicable law to achieve its intent. 

(b) Cause. For purposes of this Agreement, “Cause” is defined as: (i) Executive’s theft,
dishonesty, or falsification of any Company documents or records; (ii) Executive’s improper use or disclosure of Company’s confidential or proprietary information (iii) any action by Executive which has a detrimental effect on
Company’s reputation or business; (iv) Executive’s failure to perform any reasonable assigned duties after written notice from Company of, and a reasonable opportunity to cure, such failure; (v) any material breach by Executive
of this Agreement, which breach is not cured after written notice from Company of, and a reasonable opportunity to cure such breach; or (vi) Executive’s conviction (including any plea of guilty or nolo contendere) of any criminal act which
impairs Executive’s ability to perform Executive’s duties with Company. 
 (c) Other Termination of
Employment. In the event Executive’s employment is terminated by Company for any reason other than without Cause, or by Executive for any reason (or no reason), Executive shall be entitled to receive only (i) the unpaid and accrued Base
Salary then in effect and accrued to the effective date of termination, payable within thirty (30) days following the effective date of Executive’s termination; and (ii) reimbursement for the reasonable and appropriate expenses of
relocation incurred in calendar year 2012 up to a maximum amount equal to $50,000 minus the amount of any prior reimbursements under Section 4.2; provided that Executive submits a request for payment (including invoices evidencing such
expense) within sixty (60) days following the date such expenses are incurred and Company pays Executive the amount specified in such request within thirty (30) days following the date it is received. All other Company obligations to
Executive pursuant to this Agreement will become automatically terminated and completely extinguished. Executive will not be entitled to receive the severance package described in subsection (a) above.” 

  
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 6. Section 9 of the Employment Agreement shall be deleted in its entirety and the
following substituted in its place: 
 “9. [Omitted].” 

7. The following new Section 11.3 shall be added to the Employment Agreement. 

“11.3 Definition of Covenant Period. For purposes of the Agreement, the term “Covenant Period” shall mean the period
equal to the greater of the remainder of the Term or one (1) year following the date Executive ceases to render services to Company.” 
 8. The following new Sections 17, 18 and 19 shall be added to the Employment Agreement: 
 “17. Waiver Of Rights Related to 2012 Equity Awards. Executive waives any and all rights to and interests in each of the following equity awards granted under Company’s Amended &
Restated 2006 Equity Incentive Plan on April 18, 2012: (a) 17,573 options to purchase common stock of Company on the terms and conditions set forth in the 2012 Stock Option Agreement, (b) 3,322 executive restricted stock units on the
terms and conditions set forth in the 2012 Executive Restricted Stock Unit Agreement, and (c) 3,322 performance-based restricted stock units on the terms and conditions set forth in the 2012 Performance-Based Restricted Stock Unit Agreement.
The parties agree that all of the above-referenced 2012 award agreements terminate on May 17, 2012. 
 18.
Release. Executive hereby forever releases and discharges any and all claims and causes of action against Company, Wok Parent LLC, Wok Acquisition LLC, the past, present and future subsidiaries, affiliates, related entities and divisions of
each of them, as well as the past, present and future directors, officers, agents, attorneys, employees, executives, shareholders, members, managers, trustees, fiduciaries, representatives, principals, accountants, insurers, successors and assigns
of, or any benefit plans sponsored by, such companies, including without limitation, claims, cross-claims and causes of action of any kind or nature whatsoever, known or unknown, fixed or contingent, whether in law or in equity, suit, debts, liens,
contracts, agreements, promises, liabilities, claims, demands, damages, losses, attorneys’ fees, or costs in respect of the released claims. 
 19. Other. Executive acknowledges and agrees that (i) notwithstanding anything to the contrary contained in the Agreement, during the Term Executive shall not be eligible (x) for any
increase in his Base Salary as in effect as of May 17, 2012 and (y) to participate in any short-term, annual or long-term incentive compensation plans or programs of Company or any of its affiliates, and Executive waives any and all rights
to the foregoing, (ii) Executive has no right, title or interest in the 1,216 restricted stock units granted to Executive on December 14, 2010 or any dividend equivalent rights which may have been granted in respect thereof, and Executive
affirms his prior waiver of the foregoing and (iii) after May 17, 2012, the only equity or equity-based awards of Executive which remain outstanding are the 7,500 restricted cash units granted to Executive on August 1, 2011.”

 9. In all other respects, the parties reconfirm the terms of the Employment Agreement. 

10. Executive acknowledges that he has the right to consult with an attorney prior to signing this amendment. 

  
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 WHEREFORE the parties have read the foregoing amendment and fully understand each and every
provision contained herein and have executed this amendment to the Employment Agreement effective as of the day and year written above. 
  

			
	Lane Cardwell
		
		 	/s/ Lane Cardwell
	  

	
	P.F. Chang’s China Bistro, Inc.
		
	 By:
	 	 /s/ Richard L. Federico

	 Title:
	 	Chief Executive Officer

  
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 EXHIBIT A 
 GENERAL RELEASE AGREEMENT 
 This General Release Agreement (the
“Agreement”), is made and effective as of                 ,        by and between Lane Cardwell
(“Cardwell”) and P. F. Chang’s China Bistro, Inc. (“Company”). 
 WHEREAS, Cardwell’s
employment with Company has terminated and severance payments under Section 7 of the Employment Agreement between Cardwell and Company (the “Parties”) dated as of April 20, 2011, which subsequently was amended as of May 23,
2012 with an effective date of May 17, 2012 (collectively, the “Employment Agreement”) are conditioned upon Cardwell’s execution of a full general release. 
 NOW, THEREFORE, in consideration of the payments and other benefits due Cardwell under the Employment Agreement, Cardwell and Company hereby agree as follows: 

1. In consideration of Cardwell’s right to receive the payments set forth in Section 7 of the Employment Agreement, Cardwell,
for himself and his spouse, attorneys, heirs, agents, executors, administrators, trustees, legal representatives, successors, assigns, legal representatives, personal representatives, and administrators (hereinafter collectively referred to for
purposes of this Section 1 as “Cardwell”) hereby irrevocably and unconditionally waives, generally release and forever discharges the Company and each of its past, present and future parent companies, subsidiary companies, affiliates,
related entities, divisions, shareholders, members, predecessors, directors, officers, managers, agents, attorneys, employees, trustees, fiduciaries, executives, representatives, principals, accountants, insurers, successors and assigns of, or any
benefit plans sponsored by, such companies (collectively the “Company Releasees”) from any and all rights, claims, charges, demands, sums of money, actions, rights, promises, agreements, causes of action, obligations, losses, suits, costs,
counsel fees, and liabilities of any kind or nature whatsoever, at law or in equity, whether known or unknown, existing or contingent, suspected or unsuspected, apparent or concealed, foreign or domestic, which Cardwell has now or in the future may
claim to have against any or all of the Company Releasees based upon, arising out of, or in any way relating to any facts, acts, conduct, omissions, transactions, occurrences, contracts, claims, events, causes, matters or things of any conceivable
kind or character existing or occurring or claimed to exist or to have occurred prior to Cardwell’s execution of this Agreement (including, without limitation, claims that are in any way based upon, arising under or relating to Cardwell’s
employment with the Company, the termination of Cardwell’s employment with the Company, the Employment Agreement, or Cardwell’s services as an officer, director, or employee of the Company) (hereinafter collectively referred to as the
“Released Claims”). The Released Claims include, without limitation, claims based on, arising under, or relating to Age Discrimination in Employment Act, 29 U.S.C. § 621 et seq., as amended; Title VII of the Civil Rights
Act of 1964, 42 U.S.C. § 2000e et seq., as amended (including the Civil Rights Act of 1991); the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101 et seq., as amended; the Family and Medical Leave Act
of 1993, 29 U.S.C. § 2601 et seq., as amended; the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et seq., as amended; the Equal Pay Act of 1963, 29 U.S.C. § 206(d), as amended;
Section 806 of the Corporate and Criminal Fraud Accountability Act of 2002, 18 U.S.C. § 1681 et seq., as amended; the Fair Credit Reporting Act, 15 U.S.C. §1681 et seq., as amended; the Labor Management
Relations Act 29 U.S.C. §§ 141 et seq., as amended, the Occupational Safety and Health Act, 29 U.S.C. §§ 651 et seq., as amended; the Racketeer Influenced and Corrupt Organizations Act , 18 U.S.C.
§§ 1961 et seq., as amended; the Sarbanes Oxley Act of 2002; the Sabine Pilot Doctrine or the American Jobs Creation Act of 2004; any other federal, state or local statutory laws relating to employment, discrimination in
employment, termination of employment, wages, benefits or otherwise; or any other federal, state or local constitution, statute, rule, or regulation, including, but not limited to, any ordinance addressing fair employment practices; any claims for
employment or reemployment by the Company Released Parties; any common law claims, including but not limited to actions in tort, defamation, fraud (including fraudulent inducement into this Agreement), promissory estoppel, negligence, and breach of
contract; any claims or damages for wrongful discharge or retaliatory discharge; and any claims 

 
arising under any common law theory or any federal, state or local statute or ordinance not expressly referenced above. This Agreement is intended as a full settlement and compromise of the
Released Claims; no claim of any sort is reserved. Other than the sums and benefits set forth in the Employment Agreement, there are no other sums payable to Cardwell by the Company. This Agreement does not apply to claims for the following: payment
of any benefits to which Cardwell may be entitled under a Company sponsored tax qualified retirement or savings plan; any rights of Cardwell to indemnification under the Articles of Incorporation or by-laws of the Company; or to any claims that
cannot be released or waived by law. Except as specifically provided herein, it is expressly understood and agreed that this Agreement shall operate as a clear and unequivocal waiver by Cardwell of any claim for accrued or unpaid wages, benefits or
any other type of payment other than as provided to Cardwell under the Employment Agreement and payment of any benefits to which Cardwell may be entitled under any tax qualified retirement or savings plan of the Company in which Cardwell is a
participant. It is the intention of the parties to make this Agreement as broad and as general as the law permits as to the claims released hereunder. 
 2. Cardwell acknowledges that he may hereafter discover claims in addition to or different from those which he now knows or believes to exist with respect to the subject matter of this Agreement and
which, if known or suspected at the time of executing this Agreement, may have materially affected his decision to execute this Agreement. Cardwell hereby waives any such claims. 

3. Cardwell shall have 21 days from the date specified above to sign the Agreement and seven working days from the date he signs the
Agreement to revoke it. Such revocation should be made in writing and delivered so that it is received by
                                        no later
than 4:30 p.m. on the seventh working day after signing the Agreement. Payments pursuant to Section 7 of the Employment Agreement shall not be made until the seven-day revocation period has elapsed. 

4. Cardwell, on behalf of himself and his spouse, attorneys, heirs, executors, administrators, trustees, legal representatives, agents,
successors and assigns, hereby covenants forever not to, whether directly or indirectly or whether individually or collectively, initiate, assert, file, prosecute, maintain, commence, institute, sponsor, encourage, assist, volunteer, advise,
represent, cooperate with, or facilitate any complaint, action, proceeding, investigation, arbitration, lawsuit, or claim or any legal, equitable or administrative proceeding of any nature, against any of the Company Releasees in connection with the
Released Claims, and represents and warrants that no other person or entity has initiated or, to the extent within his control, will initiate any such proceeding on his or their behalf. 

5. It is understood that nothing in this Agreement is to be construed as an admission on behalf of the Company Releasees of any
wrongdoing with respect to Cardwell, any such wrongdoing being expressly denied. 
 6. Both parties acknowledge that they have
read this Agreement; that they fully understand it; that they accept its provisions in their entirety; and agree to comply with its terms and conditions. 
 7. The parties agree that this Agreement and the substance thereof are to remain strictly confidential. Accordingly, neither of the parties shall make any statements or provide any information to any
person (including but not limited to any former, current, or future employees of the Company Releasees) concerning this Agreement, or the substance thereof, except to make such disclosures (a) as may be legally required in litigation or
(b) that are necessary for the purpose of obtaining legal or tax advice. 
 8. IN SIGNING THIS GENERAL RELEASE AGREEMENT,
CARDWELL ACKNOWLEDGES THAT HE HAS BEEN INFORMED OF THE FOLLOWING RIGHTS AVAILABLE TO HIM UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT, 29 U.S.C. § 621 et seq., as amended (ADEA): 

(A) HE HAS READ AND UNDERSTANDS THIS AGREEMENT AND IS HEREBY ADVISED IN WRITING HE HAS THE RIGHT TO CONSULT WITH AN ATTORNEY PRIOR TO
SIGNING THIS 

  
 A-2

 
AGREEMENT; 
 (B) HE HAS SIGNED THIS AGREEMENT VOLUNTARILY AND UNDERSTANDS
THAT THIS AGREEMENT CONTAINS A FULL AND FINAL RELEASE OF ALL OF HIS CLAIMS; 
 (C) HE HAS BEEN OFFERED AT LEAST TWENTY-ONE
(21) CALENDAR DAYS TO CONSIDER THIS AGREEMENT; 
 (D) THIS AGREEMENT IS NOT MADE IN CONNECTION WITH AN EXIT INCENTIVE OR
OTHER EMPLOYEE TERMINATION PROGRAM OFFERED TO A GROUP OR CLASS OF EMPLOYEES; AND 
 (E) HE DOES NOT WAIVE RIGHTS OR CLAIMS UNDER
THE ADEA THAT MIGHT ARISE AFTER THE DATE THIS WAIVER IS EXECUTED. 
 9. This Agreement and any and all claims arising out of,
under, pursuant to, or in any way related to this Agreement, including but not limited to any and all claims (whether sounding in contract or tort) as to this Agreement’s scope, validity, enforcement, interpretation, construction, and effect
shall be governed by and construed in accordance with the laws of the United States and the State of Arizona. 
 10. To the
fullest extent permitted by law, Cardwell and the Company agree to arbitrate any controversy, claim or dispute between them arising out of or in any way related to this Agreement. For the purpose of this agreement to arbitrate, references to
“Company” include all parent, subsidiary or related entities and their employees, supervisors, officers, directors, agents, pension or benefit plans, pension or benefit plan sponsors, fiduciaries, administrators, affiliates and all
successors and assigns of any of them, and this agreement shall apply to them to the extent Cardwell’s claims arise out of or relate to their actions on behalf of Company. 

(A) The mutual promise by the Company and Cardwell to arbitrate any and all disputes between them rather than litigate them before the
courts or other bodies, provides the consideration for this agreement to arbitrate. 
 (B) Either party may exercise the right
to arbitrate by providing the other party with written notice in accordance with Section 14.7 of the Employment Agreement of any and all claims forming the basis of such right in sufficient detail to inform the other party of the substance of
such claims. In no event shall the request for arbitration be made after the date when institution of legal or equitable proceedings based on such claims would be barred by the applicable statute of limitations. 

(C) The arbitration will be conducted in Phoenix, Arizona by a single neutral arbitrator and in accordance with the then current rules
for resolution of employment disputes of the American Arbitration Association (“AAA”). The parties are entitled to representation by an attorney or other representative of their choosing. The arbitrator shall have the power to enter any
award that could be entered by a judge of the trial court of the State of Arizona, and only such power, and shall follow the law. The parties agree to abide by and perform any award rendered by the arbitrator. The arbitrator shall issue the award in
writing and therein state the essential findings and conclusions on which the award is based. Judgment on the award may be entered in any court having jurisdiction thereof. 
 (D) The Company shall bear the costs of the arbitration filing and hearing fees and the cost of the arbitrator. 
 11. CARDWELL ACKNOWLEDGES THAT, BY SIGNING THIS AGREEMENT, HE IS WAIVING ANY RIGHT THAT HE MAY HAVE TO A JURY TRIAL OR A COURT TRIAL RELATED TO THIS AGREEMENT. 

12. Each of the parties agrees that, except for the covenants and obligations pursuant to Sections 7 (“Termination of
Executive’s Employment”), 10 (“Confidentiality and Proprietary Rights”), 11 (“Nonsolicitation”), 12 (“injunctive Relief”), 13 (“Agreement to Arbitrate”), 14 (“General Provisions”), 15
(“Section 409A”) and 16 (“Entire Agreement”) of the Employment Agreement (the “Surviving Sections”), 

  
 A-3

 
the Employment Agreement is terminated effective as of expiration of the employment term or the termination Cardwell’s employment, and except for the Surviving Sections, shall be of no
further force and effect with no further liability or obligation of any party thereto thereunder. The Surviving Sections of the Employment Agreement survive termination of the Employment Agreement and remain in full force and effect. Cardwell
expressly and specifically acknowledges, ratifies, and reaffirms his obligations under the Surviving Sections of the Employment Agreement. 
 13. There shall be no presumption that any ambiguity in this Agreement should be resolved in favor of one party hereto and against another party hereto. Any controversy concerning the construction of this
Agreement shall be decided neutrally without regard to authorship. 
 14. This Agreement may be executed in any number of
counterparts, each of which so executed will be deemed to be an original, and such counterparts will, when executed by the parties hereto, together constitute but one agreement. Facsimile and electronic signatures shall be deemed to be the
equivalent of manually signed originals. 
 15. All the terms and provisions of this Agreement shall be binding upon and inure
to the benefit of the parties hereto and to their respective successors and permitted assigns. Neither this Agreement nor any rights or obligations hereunder may be assigned by Cardwell, other than by will or the laws of descent or distribution.

 16. All provisions of this Agreement are intended to be severable. In the event any provision or restriction contained herein
is held to be invalid or unenforceable in any respect, in whole or in part, such finding shall in no way affect the validity or enforceability of any other provision of this Agreement. The parties hereto further agree that any such invalid or
unenforceable provision shall be deemed modified so that it shall be enforced to the greatest extent permissible under law, and to the extent that any court or arbitrator of competent jurisdiction determines any restriction herein to be unreasonable
in any respect, such court or arbitrator may limit this Agreement to render it reasonable in the light of the circumstances in which it was entered into and specifically enforce this Agreement as limited. 

17. Any modification or amendment of this Agreement must be made in writing and signed by both parties. No term or condition of this
Agreement will be deemed to have been waived except in writing by the party charged with waiver. A waiver shall operate only as to the specific term or condition waived and will not constitute a waiver for the future or act on anything other than
that which is specifically waived. 
 THE UNDERSIGNED HAVE CAREFULLY READ THE FOREGOING AGREEMENT, KNOW THE CONTENTS THEREOF,
FULLY UNDERSTAND IT, AND SIGN THE SAME AS HIS OR ITS OWN FREE ACT 
  

									
	AGREED AND ACCEPTED:	 		 	
	  
	 		 	                             
           ,        
	Lane Cardwell	 		 	Date of Execution
			
	 P. F. CHANG’S CHINA BISTRO, INC.
	 		 	
				
	 By:
	 	  
	 		 	                             
           ,        
		 	 Name:
	 		 		 	Date of Execution
		 	Title:	 		 		 	

  
 A-4

 CERTIFICATION OF NON-REVOCATION OF 

SEPARATION AND GENERAL RELEASE AGREEMENT 
 I hereby certify and represent that seven (7) calendar days have passed since I signed the General Release Agreement with P. F. Chang’s China Bistro, Inc. and that I have NOT exercised my right
to revoke such General Release Agreement pursuant to the Older Workers Benefit Protection Act of 1990. I understand that P. F. Chang’s China Bistro, Inc. in providing me with benefits under the Employment Agreement dated as of April 20,
2011 and amended effective May 17, 2012, is relying on this Certificate, and that I can no longer revoke the General Release Agreement. 
  

					
	  
	 		 	                             
           ,        
	Lane Cardwell	 		 	Date of Execution
		 		 	

 IMPORTANT: 
 This Certificate should be signed, dated and returned to                    no earlier than on the
eighth (8th) calendar day after the Agreement is
executed by both Parties. 

  
 A-5Amended and Restated Performance Bonus Plan

 Exhibit 10.1 
 POLYCOM, INC. 
 PERFORMANCE BONUS PLAN 

(As Amended and Restated July 1, 2012) 
 SECTION 1 
 BACKGROUND, PURPOSE AND DURATION 

1.1 Effective Date. Polycom, Inc., hereby amends and restates the Plan effective as of July 1, 2012 (the “Effective
Date”). The Plan previously was amended and restated effective as of November 6, 2007, and was approved by an affirmative vote of the holders of a majority of the Shares that were present in person or by proxy and entitled to vote at the
2007 Annual Meeting of Stockholders of the Company. 
 1.2 Purpose of the Plan. The Plan is intended to increase
stockholder value and the success of the Company by motivating Participants (1) to perform to the best of their abilities, and (2) to achieve the Company’s objectives. The Plan’s goals are to be achieved by providing Participants
with the opportunity to earn incentive awards for the achievement of goals relating to the performance of the Company. The Plan is intended to permit the payment of bonuses that qualify as performance-based compensation under Section 162(m) of
the Code. 
 SECTION 2 
 DEFINITIONS 
 The following words and phrases will have the following
meanings unless a different meaning is plainly required by the context: 
 2.1 “Actual Award” means as to any
Performance Period, the actual award (if any) payable to a Participant for the Performance Period. Each Actual Award is determined by the Payout Formula for the Performance Period, subject to the Committee’s authority under Section 3.6 to
eliminate or reduce the award otherwise determined by the Payout Formula. 
 2.2 “Affiliate” means any
corporation or other entity (including, but not limited to, partnerships and joint ventures) controlled by the Company. 
 2.3
“Base Salary” means as to any Performance Period, the Participant’s earned salary during the Performance Period. Such Base Salary will be before both (a) deductions for taxes or benefits, and (b) deferrals of
compensation pursuant to Company-sponsored plans and Affiliate-sponsored plans. 
 2.4 “Board” means the Board
of Directors of the Company. 
 2.5 “Cash Flow” means as to any Performance Period, cash generated from
operating activities. 
 2.6 “Code” means the Internal Revenue Code of 1986, as amended. Reference to a
specific section of the Code or regulation thereunder will include such section or regulation, any valid regulation promulgated thereunder, and any comparable provision of any future legislation or regulation amending, supplementing or superseding
such section or regulation. 

 2.7 “Committee” means the committee appointed by the Board (pursuant to
Section 5.1) to administer the Plan. As of the Effective Date, the Compensation Committee of the Board will serve as the Committee. 
 2.8 “Company” means Polycom, Inc., a Delaware corporation, or any successor thereto. 
 2.9 “Customer Satisfaction” means as to any Performance Period, the objective and measurable goals approved by the Committee that relate to fulfillment of customer expectations and/or
attainment of customer ratings. 
 2.10 “Determination Date” means the latest possible date that will not
jeopardize a Target Award or Actual Award’s qualification as performance-based compensation under Section 162(m) of the Code. 
 2.11 “Disability” means a permanent disability in accordance with a policy or policies established by the Committee (in its discretion) from time to time. 

2.12 “Employee” means any employee of the Company or of an Affiliate, whether such employee is so employed at the time
the Plan is adopted or becomes so employed subsequent to the adoption of the Plan. 
 2.13 “Financial
Efficiency” means as to any Performance Period, the percentage equal to Profit for the Performance Period, divided by a financial metric determined by the Committee (for example, but not by way of limitation, stockholders’ equity or
Revenue). 
 2.14 “Fiscal Quarter” means a fiscal quarter within a Fiscal Year of the Company. 

2.15 “Fiscal Year” means the fiscal year of the Company. 

2.16 “Margin” means as to any Performance Period, Revenue less operating expenses, divided by Revenue. 

2.17 “Maximum Award” means as to any Participant during any period of three (3) consecutive Fiscal Years, $10
million. 
 2.18 “Participant” means as to any Performance Period, an Employee who has been selected by the
Committee for participation in the Plan for that Performance Period. 
 2.19 “Payout Formula” means as to any
Performance Period, the formula or payout matrix established by the Committee pursuant to Section 3.4 in order to determine the Actual Awards (if any) to be paid to Participants. The formula or matrix may differ from Participant to Participant.

 2.20 “Performance Goals” means the goal(s) (or combined goal(s)) determined by the Committee (in its
discretion) to be applicable to a Participant for a Target Award for a Performance Period. As determined by the Committee, the Performance Goals for any Target Award applicable to a Participant may provide for a targeted level or levels of
achievement using one or more of the following measures: (a) Cash Flow, (b) Customer Satisfaction, (c) Financial Efficiency, (d) Margin, (e) Product Quality, (f) Product Unit Sales, (g) Profit, and
(h) Revenue. Performance Goals may differ from Participant to Participant, Performance Period to Performance Period and from award to award. Any Performance Goal used may be measured (1) in absolute terms, (2) in combination with
another Performance Goal or Goals (for example, but not by way of limitation, as a ratio or matrix), (3) in relative terms (including, but not limited to, as compared 

  
 2 

 
to results for other periods of time, against financial metrics and/or against another company, companies or an index or indices), (4) on a per-share or per-capita basis, (5) against
the performance of the Company as a whole or a specific business unit(s), business segment(s) or product(s) of the Company, and/or (6) on a pre-tax or after-tax basis. Prior to the Determination Date, the Committee, in its discretion, will
determine whether any significant element(s) or item(s) will be included in or excluded from the calculation of any Performance Goal with respect to any Participants (for example, but not by way of limitation, the effect of mergers and
acquisitions). As determined in the discretion of the Committee prior to the Determination Date, achievement of Performance Goals for a particular Award may be calculated in accordance with the Company’s financial statements, prepared in
accordance with generally accepted accounting principles, or as adjusted for certain costs, expenses, gains and losses to provide non-GAAP measures of operating results. 
 2.21 “Performance Period” means any Fiscal Year or such other period longer or shorter than a Fiscal Year but not shorter than a Fiscal Quarter or longer than three Fiscal Years, as
determined by the Committee in its sole discretion. 
 2.22 “Plan” means the Polycom, Inc. Performance Bonus
Plan, as set forth in this instrument and as hereafter amended from time to time. 
 2.23 “Product Quality”
means as to any Performance Period, the objective and measurable goals approved by the Committee for the design, creation or manufacture of products that conform to design specifications or requirements and/or that do not exceed specified defect
levels. 
 2.24 “Product Unit Sales” means as to any Performance Period, the number of product units sold to
third parties. 
 2.25 “Profit” means as to any Performance Period, income. 

2.26 “Progress Payment” means a portion of the Target Award or Actual Award for which the Committee has determined in
accordance with Section 3.6 has been earned by the Participant as of the end of the Progress Period based on achievement of the applicable Performance Goals and thereby may be paid to the Participant during the Performance Period. 

2.27 “Progress Period” means a period shorter than and within the Performance Period for which a Progress Payment may be
made. 
 2.28 “Retirement” means with respect to any Participant, a Termination of Employment occurring in
accordance with a policy or policies established by the Committee (in its discretion) from time to time. 
 2.29
“Revenue” means as to any Performance Period, net revenues generated from third parties. 
 2.30
“Target Award” means the target award payable under the Plan to a Participant for the Performance Period, expressed as a percentage of his or her Base Salary, a specific dollar amount or a result of a formula or formulas, as
determined by the Committee in accordance with Section 3.3. 
 2.31 “Termination of Employment” means a
cessation of the employee-employer relationship between an Employee and the Company or an Affiliate for any reason, including, but not by way of limitation, a termination by resignation, discharge, death, Disability, Retirement, or the
disaffiliation of an Affiliate, but excluding any such termination where there is a simultaneous reemployment by the Company or an Affiliate. 

  
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 SECTION 3 
 SELECTION OF PARTICIPANTS AND DETERMINATION OF AWARDS 
 3.1 Selection of
Participants. The Committee, in its sole discretion, will select the Employees who will be Participants for any Performance Period. The Committee, in its sole discretion, also may designate as Participants one or more individuals (by name
or position) who are expected to become Employees during a Performance Period. Participation in the Plan is in the sole discretion of the Committee, and will be determined on a Performance Period by Performance Period basis. Accordingly, an Employee
who is a Participant for a given Performance Period in no way is guaranteed or assured of being selected for participation in any subsequent Performance Period. 
 3.2 Determination of Performance Goals. The Committee, in its sole discretion, will establish the Performance Goals for each Participant for the Performance Period. Such Performance Goals will
be set forth in writing. 
 3.3 Determination of Target Awards. The Committee, in its sole discretion, will
establish a Target Award for each Participant. Each Participant’s Target Award will be determined by the Committee in its sole discretion, and each Target Award will be set forth in writing. 

3.4 Determination of Payout Formula or Formulae. The Committee, in its sole discretion, will establish a Payout Formula or
Formulae for purposes of determining the Actual Award (if any) payable to each Participant. Each Payout Formula will (a) be in writing, (b) be based on a comparison of actual performance to the Performance Goals, (c) provide for the
payment of a Participant’s Target Award if the Performance Goals for the Performance Period are achieved at the predetermined level, and (d) provide for the payment of an Actual Award greater than or less than the Participant’s Target
Award, depending upon the extent to which actual performance exceeds or falls below the Performance Goals. Notwithstanding the preceding, in no event will a Participant’s Actual Award(s) for any three consecutive Fiscal Year periods exceed the
Maximum Award. 
 3.5 Date for Determinations. The Committee will make all determinations under Sections 3.1
through 3.4 on or before the Determination Date. 
 3.6 Determination of Actual Awards. After the end of each
Performance Period or, to the extent Progress Payments will be made, after the end of the Progress Period, the Committee will certify in writing (for example, in its meeting minutes) the extent to which the Performance Goals applicable to each
Participant for the Performance Period or Progress Period, as applicable, were achieved or exceeded, as determined by the Committee. The Actual Award for each Participant will be determined by applying the Payout Formula to the level of actual
performance that has been certified in writing by the Committee. Notwithstanding any contrary provision of the Plan, the Committee, in its sole discretion, may (a) eliminate or reduce the Actual Award payable to any Participant below that which
otherwise would be payable under the Payout Formula, and (b) determine whether or not any Participant will receive an Actual Award in the event the Participant incurs a Termination of Employment prior to the date the Actual Award is to be paid
pursuant Section 4.2 below. 
 SECTION 4 
 PAYMENT OF AWARDS 
 4.1 Right to Receive Payment. Each Actual
Award that may become payable under the Plan will be paid solely from the general assets of the Company or the Affiliate that employs the Participant (as the case may be), as determined by the Committee. Nothing in this Plan will be construed to
create a trust or to establish or evidence any Participant’s claim of any right to payment of an Actual Award other than as an unsecured general creditor with respect to any payment to which he or she may be entitled. 

  
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 4.2 Timing of Payment. Subject to Section 3.6, payment of each Actual Award
will be made as soon as administratively practicable, but in no event later than two and one-half months after the end of the applicable Performance Period or Progress Period. 
 4.3 Form of Payment. Each Actual Award will be paid in cash (or its equivalent) in a single lump sum. 
 4.4 Payment in the Event of Death. If a Participant dies prior to the payment of an Actual Award (determined under Section 3.6) that was scheduled to be paid to him or her prior to death
for a prior Performance Period, the Award will be paid to his or her designated beneficiary or, if no beneficiary has been designated, to his or her estate. 
 SECTION 5 
 ADMINISTRATION 

5.1 Committee is the Administrator. The Plan will be administered by the Committee. The Committee will consist of not less
than two (2) members of the Board. The members of the Committee will be appointed from time to time by, and serve at the pleasure of, the Board. Each member of the Committee will qualify as an “outside director” under
Section 162(m) of the Code. If it is later determined that one or more members of the Committee do not so qualify, actions taken by the Committee prior to such determination will be valid despite such failure to qualify. Any member of the
Committee may resign at any time by notice in writing mailed or delivered to the Secretary of the Company. 
 5.2 Committee
Authority. It will be the duty of the Committee to administer the Plan in accordance with the Plan’s provisions. The Committee will have all powers and discretion necessary or appropriate to administer the Plan and to control its
operation, including, but not limited to, the power to (a) determine which Employees will be granted awards, (b) prescribe the terms and conditions of awards, (c) interpret the Plan and the awards, (d) adopt such procedures and
subplans as are necessary or appropriate to permit participation in the Plan by Employees who are foreign nationals or employed outside of the United States, (e) adopt rules for the administration, interpretation and application of the Plan as
are consistent therewith, and (f) interpret, amend or revoke any such rules. 
 5.3 Decisions Binding. All
interpretations, determinations and decisions made by the Committee, the Board, and any delegate of the Committee pursuant to the provisions of the Plan will be final, conclusive, and binding on all persons, and will be given the maximum deference
permitted by law. 
 5.4 Delegation by the Committee. The Committee, in its sole discretion and on such terms and
conditions as it may provide, may delegate all or part of its authority and powers under the Plan to one or more directors and/or officers of the Company; provided, however, that the Committee may not delegate its authority and/or powers with
respect to awards that are intended to qualify as performance-based compensation under Section 162(m) of the Code. 

SECTION 6 
 GENERAL PROVISIONS 
 6.1 Tax Withholding. The Company or an
Affiliate, as determined by the Committee, will withhold all applicable taxes from any Actual Award, including any federal, state, local and other taxes. 

  
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 6.2 No Effect on Employment. Nothing in the Plan will interfere with or limit in
any way the right of the Company or an Affiliate, as applicable, to terminate any Participant’s employment or service at any time, with or without cause. For purposes of the Plan, transfer of employment of a Participant between the Company and
any one of its Affiliates (or between Affiliates) will not be deemed a Termination of Employment. Employment with the Company and its Affiliates is on an at-will basis only. The Company expressly reserves the right, which may be exercised at any
time and without regard to when during or after a Performance Period such exercise occurs, to terminate any individual’s employment with or without cause, and to treat him or her without regard to the effect which such treatment might have upon
him or her as a Participant. 
 6.3 Participation. No Employee will have the right to be selected to receive an
award under this Plan, or, having been so selected, to be selected to receive a future award. 
 6.4
Indemnification. Each person who is or will have been a member of the Committee, or of the Board, will be indemnified and held harmless by the Company against and from (a) any loss, cost, liability, or expense that may be imposed
upon or reasonably incurred by him or her in connection with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved by reason of any action taken or failure to act under the
Plan or any award, and (b) from any and all amounts paid by him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any such claim, action, suit, or proceeding against him or
her, provided he or she will give the Company an opportunity, at its own expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing right of indemnification will not be
exclusive of any other rights of indemnification to which such persons may be entitled under the Company’s Certificate of Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or under any power that the Company may have to
indemnify them or hold them harmless. 
 6.5 Successors. All obligations of the Company and any Affiliate under the
Plan, with respect to awards granted hereunder, will be binding on any successor to the Company and/or such Affiliate, 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 or such Affiliate. 
 6.6 Beneficiary Designations.

 a) Designation. Each Participant may, pursuant to such uniform and nondiscriminatory procedures as the Committee may
specify from time to time, designate one or more Beneficiaries to receive any Actual Award payable to the Participant at the time of his or her death. Notwithstanding any contrary provision of this Section 6.6 will be operative only after (and
for so long as) the Committee determines (on a uniform and nondiscriminatory basis) to permit the designation of Beneficiaries. 

b) Changes. A Participant may designate different Beneficiaries (or may revoke a prior Beneficiary designation) at any time by
delivering a new designation (or revocation of a prior designation) in like manner. Any designation or revocation will be effective only if it is received by the Committee. However, when so received, the designation or revocation will be effective
as of the date the designation or revocation is executed (whether or not the Participant still is living), but without prejudice to the Committee on account of any payment made before the change is recorded. The last effective designation received
by the Committee will supersede all prior designations. 
 c) Failed Designation. If the Committee does not make this
Section 6.6 operative or if Participant dies without having effectively designated a Beneficiary, the Participant’s Account will be payable to the general beneficiary shown on the records of the Employer. If no Beneficiary survives the
Participant, the Participant’s Account will be payable to his or her estate. 

  
 6 

 6.7 Nontransferability of Awards. No award granted under the Plan may be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution, or to the limited extent provided in Section 6.6. All rights with respect to an award granted to a Participant
will be available during his or her lifetime only to the Participant. 
 6.8 Deferrals. The Committee, in its sole
discretion, may permit a Participant to defer receipt of the payment of cash that would otherwise be delivered to a Participant under the Plan. Any such deferral elections will be subject to such rules and procedures as will be determined by the
Committee in its sole discretion. Unless otherwise expressly determined by the Committee, the rules and procedures for any deferral elections and deferrals will be designed to comply with Section 409A of the Code. 

6.9 Section 409A. It is intended that all bonuses payable under this Plan will be exempt from the requirements of
Section 409A pursuant to the “short-term deferral” exemption or, in the alternative, will comply with the requirements of Section 409A so that none of the payments and benefits to be provided under this Plan will be subject to
the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to so comply or be exempt. Each payment and benefit payable under this Plan is intended to constitute a separate payment for
purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. The Company may, in good faith and without the consent of any Participant, make any amendments to this Plan and take such reasonable actions which it deems necessary, appropriate
or desirable to avoid imposition of any additional tax or income recognition under Section 409A prior to actual payment to the Participant. 
 SECTION 7 
 AMENDMENT, TERMINATION AND DURATION 

7.1 Amendment, Suspension or Termination. The Board or the Committee, each in its sole discretion, may amend or terminate the
Plan, or any part thereof, at any time and for any reason. The amendment, suspension or termination of the Plan will not, without the consent of the Participant, alter or impair any rights or obligations under any Target Award theretofore granted to
such Participant. No award may be granted during any period of suspension or after termination of the Plan. 
 7.2 Duration
of the Plan. The Plan will commence on the date specified herein, and subject to Section 7.1 (regarding the Board or the Committee’s right to amend or terminate the Plan), will remain in effect thereafter. 

SECTION 8 
 LEGAL CONSTRUCTION 
 8.1 Gender and Number. Except where
otherwise indicated by the context, any masculine term used herein also will include the feminine; the plural will include the singular and the singular will include the plural. 

8.2 Severability. In the event any provision of the Plan will be held illegal or invalid for any reason, the illegality or
invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced as if the illegal or invalid provision had not been included. 

  
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 8.3 Requirements of Law. The granting of awards under the Plan will be subject
to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 8.4 Governing Law. The Plan and all awards will be construed in accordance with and governed by the laws of the State of California, but without regard to its conflict of law provisions.

 8.5 Captions. Captions are provided herein for convenience only, and will not serve as a basis for interpretation
or construction of the Plan. 

  
 8

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