Document:

Cash Performance and Restricted Stock Award Agreement

 Exhibit 10.1 
 

 
 YRC WORLDWIDE INC. 
 CASH PERFORMANCE AND RESTRICTED STOCK AWARD AGREEMENT 
 [NAME OF GRANTEE] 
 GRANTEE 
  

			
	DATE OF GRANT:	  	
		
	NUMBER OF SHARES OF RESTRICTED STOCK GRANTED:	  	             shares of the Company’s common stock
		
	RESTRICTED STOCK AWARD VESTING SCHEDULE:	  	Subject to the Plan (as defined below) and the Terms and Conditions of Cash Performance and Restricted Stock Award Agreements (March 30, 2009):
		
	    EBITDA VESTING	  	If 2009 EBITDA (as defined below) is equal to or greater than $200 million, 11% of the shares of the Restricted Stock shall vest on the third anniversary of the date of
grant.
		
	     PRICE PER SHARE
     VESTING
	  	 If the highest Average Share Price (as defined below) at any time prior to the third anniversary of the date of grant is:
  
 1.  Equal to $5.00 per share, 22% of the shares of the Restricted
Stock shall vest on the third anniversary of the date of grant;
  
 2.  Greater than or equal to $15.00 per share, 89% of the shares of the Restricted Stock shall vest on the third anniversary of the date of grant;
  
 If, prior to the third anniversary of the date of grant, the highest Average Share Price is
greater than $5.00 but less than $15.00 per share, the Company shall interpolate the additional number of shares to vest using the highest Average Share Price to determine how many vest within the range of clauses 1 and 2 above.
  
 To the extent that shares of Restricted Stock have not vested by the third anniversary of the date
of grant, the shares shall be forfeited.

		
	CASH PERFORMANCE AWARD:	  	 If 2009 EBTIDA is:
  
 1.  $200 million, the Company shall pay Grantee $-0-;
  

2.  Greater than or equal to $280 million, the Company shall pay Grantee $[10% of Grantee’s LTIP target];
  
 If 2009 EBITDA is greater than $200 million but less than $280 million, the Company shall
interpolate the amount to pay Grantee based upon 2009 EBTIDA within the range of clauses 1 and 2 above.
  
 The Company shall pay any such cash amount in a single lump sum payment on the first anniversary of the date hereof (less any applicable withholding taxes).

		
	CERTAIN DEFINITIONS:	  	“2009 EBITDA” means Consolidated EBITDA (defined below) for the 12-month period ending December 31, 2009 (excluding any negative Consolidated EBITDA for the three-month period
ending March 31, 2009). “Consolidated EBITDA” shall have the meaning that term is given in the Credit Agreement dated August 17, 2007, among the Company, certain of its subsidiaries, JPMorgan Chase Bank, National Association, as
agent, and the other banks party thereto, as it is

			
		 	 amended through the date of grant.
  
 “Average Share Price” means the average closing price per share of the Company’s common stock for any consecutive 20 trading days on the NASDAQ Stock
Market (or if the Company’s common stock no longer trades on the NASDAQ Stock Market, such other market where the Company’s common stock is principally traded).

 GRANT OF CASH PERFORMANCE
AWARD AND RESTRICTED STOCK AWARD 
 Pursuant to action taken by the
Compensation Committee (the “Committee”) of the Board of Directors of YRC WORLDWIDE INC., a Delaware corporation (the “Company”), for the purposes of administration of the YRC Worldwide Inc.
2004 Long-Term Incentive and Equity Award Plan (as amended with effect from May 15, 2008) or any successor thereto (the “Plan”), the above-named Grantee is hereby granted (a) the above number of shares of the Company’s $1
par value per share common stock in accordance with the Vesting Schedule described above (the “Restricted Stock”) and (b) the cash award described above subject to the conditions set forth next to the caption “Cash Performance
Award” above (the “Cash Performance Award”), and in each case subject to the other terms and conditions described in this Cash Performance and Restricted Stock Award Agreement (this “Award Agreement”). 
 By your acceptance of the Cash Performance Award and the Restricted Stock Award (together, the “Award”) as set forth in this Award Agreement, you agree that
the Award is granted under and governed by the terms of the Plan, this Award Agreement and the Terms and Conditions of Cash Performance and Restricted Stock Award Agreements (March 30, 2009) attached to this Award Agreement; you acknowledge that you
have received, reviewed and understand the Plan, including the provisions that the Committee’s decision on any matter arising under the Plan is conclusive and binding; and you agree that this Award amends and supersedes any other agreement or
statement, oral or written, in its entirety regarding the vesting or holding period of this Award. 
 By your acceptance of the Award as set forth in this
Award Agreement, you agree that any potential grants pursuant to incomplete performance periods under long-term incentive plans or programs under the Plan, or any predecessor thereto, are, by your acceptance of the Award, hereby cancelled and
terminated and that you are not entitled to any additional grants, payments or compensation that may have been provided to you with respect to such terminated and cancelled incomplete performance periods. 
  

	
	 YRC WORLDWIDE INC.
  

	 Name:
 Title:

  

			
	 Award Agreement agreed and
 accepted by:
  

	Grantee Name:    	 	 

 You agree that your acceptance of this Award Agreement may be evidenced either by your signature above or by your
electronic acceptance through the Company’s award administrator’s website (as of the date of grant, the administrator is Fidelity). 

 YRC WORLDWIDE INC. 
 TERMS AND CONDITIONS 
 OF 
 CASH PERFORMANCE AND
RESTRICTED STOCK AWARD AGREEMENTS 
 March 30, 2009 
 These Terms and Conditions are applicable to Cash Performance and Restricted Stock Awards (the “Awards”) granted pursuant to the YRC
Worldwide Inc. 2004 Long-Term Incentive and Equity Award Plan (as amended with effect from May 15, 2008) or any successor thereto (the “Plan”). 
  

	1.	Acceleration of Vesting. Notwithstanding the provisions of the vesting schedules provided in the Award Agreement, the Awards shall vest and be paid as provided in this
Section 1 upon the following circumstances: 

  

	 	1.1	Death or Permanent and Total Disability. If the Grantee dies or is deemed to be “permanently and totally disabled” (as defined herein) while in the employ of the
Company or a subsidiary of the Company (a “Subsidiary”) and prior to the time the Awards vest and are paid, (a) the Restricted Stock Award shall become fully vested and all transfer restrictions thereon shall lapse and (b) if not
yet paid, the Cash Performance Award shall be paid to the Grantee or the Grantee’s beneficiary. For purposes of this Section, a Grantee shall be considered “permanently and totally disabled” if the Grantee is unable to engage in any
substantial gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months or is, by reason of any
medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than
three months under an accident and health plan covering employees of the Grantee’s employer. The existence of a permanent and total disability shall be evidenced by such medical certification as the Secretary of the Company shall require and as
the Committee approves. 

  

	 	1.2	Change of Control of the Company. If a “Change of Control” of the Company occurs while the Grantee is in the employ of the Company or a Subsidiary prior to the time
the Awards vest and are paid, (a) the Restricted Stock Award shall become fully vested and all transfer restrictions thereon shall lapse and (b) if not yet paid, the Cash Performance Award shall be payable to the Grantee. For the purposes
of this Section, a “Change of Control” shall be deemed to have taken place if: 

  

	 	1.2.1	a third person, including a “group” as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), purchases or
otherwise acquires shares of the Company after the date of grant that, together with stock held by such person or group, constitutes more than 50 percent of the total fair market value or total voting power of the stock of the Company;

  

	 	1.2.2	a third person, including a “group” as defined in Section 13(d)(3) of the Exchange Act purchases or otherwise acquires (or has acquired during the 12-month period
ending on the date of the most recent acquisition by such person or group) shares of the Company after the date of grant and as a result thereof becomes the beneficial owner of shares of the Company having 35% or more of the total number of votes
that may be cast for election of directors of the Company; or 

  

					
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	 	1.2.3	as the result of, or in connection with any cash tender or exchange offer, merger or other Business Combination, or contested election, or any combination of the foregoing
transactions, the Continuing Directors shall cease to constitute a majority of the Board of Directors of the Company or any successor to the Company during any 12-month period. 

 For the purposes of this Section, “Business Combination” means any transaction that is referred to in any one or more of clauses
(a) through (e) of Section 1 of Subparagraph A of Article Seventh of the Certificate of Incorporation of the Company; and “Continuing Director” means a director of the Company who meets the definition of Continuing Director
contained in Section 7 of Subparagraph C of Article Seventh of the Certificate of Incorporation of the Company. 
  

	 	1.3	Retirement. If the Grantee terminates employment with the Company and its Subsidiaries and is at least 65 years of age upon that termination, (a) the Restricted Stock
Award shall become fully vested and all transfer restrictions thereon shall lapse on the date of termination, and (b) if not yet paid, the Cash Performance Award shall, to the extent the Performance Goal has been achieved, be paid to the
Grantee or the Grantee’s beneficiary, as applicable, on the date such Awards are paid to Plan participants in general. If the Grantee terminates employment with the Company and its Subsidiaries prior to age 65 and the Grantee is at least 55
years of age with the Grantee’s age plus years of service equal to at least 75, (y) the Restricted Stock Award shall continue to vest on the same schedule and the same terms as if the Grantee remained employed with the Company and its
Subsidiaries until age 65 at which time the Restricted Stock Award shall become fully vested and all transfer restrictions thereon shall lapse and (z) if not yet paid, the Cash Performance Award shall, to the extent the Performance Goal has
been achieved, be paid to the Grantee or the Grantee’s beneficiary, as applicable, on the date such Awards are paid to Plan participants in general; provided, that the Grantee does not breach the following covenant in Section 1.4.

  

	 	1.4	Prohibited Activities. Notwithstanding any other provision of these Terms and Conditions and the Award Agreement, if the Grantee engages in a “Prohibited Activity”
(defined below) while in the employment of the Company or any of its Subsidiaries or during the period from the date of retirement under Section 1.3 until all Restricted Stock Awards vest pursuant to that section, then Grantee shall forfeit the
right to any further vesting of the Grantee’s Restricted Stock Award and, if not yet paid, shall not receive the Cash Performance Award, and the Award Agreement shall immediately thereupon wholly and completely terminate. If the Company
receives an allegation of a Prohibited Activity, the Company, in its discretion, may suspend vesting of Restricted Stock Awards and payment of the Cash Performance Award for up to three months to permit the investigation of the allegation. If the
Company determines that the Grantee did not engage in any Prohibited Activities, the Company shall, to the extent the respective Performance Goals have been achieved, vest Restricted Stock Awards and pay any portion of the Cash Performance Award
that is payable. A “Prohibited Activity” shall be deemed to have occurred, if the Grantee: 

  

	 	1.4.1	divulges any non-public, confidential or proprietary information of the Company or of its past or present subsidiaries (collectively, the “Company Group”), but excluding
information that 

  

	 	1.4.1.1	becomes generally available to the public other than as a result of the Grantee’s public use, disclosure, or fault, or 

  

	 	1.4.1.2	 becomes available to the Grantee on a non-confidential basis after the Grantee’s employment termination date from a source other than a member of the Company

  

					
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Group prior to the public use or disclosure by the Grantee; provided that the source is not bound by a confidentiality agreement or otherwise
prohibited from transmitting the information by a contractual, legal or fiduciary obligation; or 

  

	 	1.4.2	directly or indirectly, consults or becomes affiliated with, conducts, participates or engages in, or becomes employed by, any business that is competitive with the business of any
current member of the Company Group, wherever from time to time conducted throughout the world, including situations where the Grantee solicits or participates in or assists in any way in the solicitation or recruitment, directly or indirectly, of
any employees of any current member of the Company Group. 

  

	2.	Lapse of Rights upon Termination of Employment. 

 Upon termination of the Grantee’s employment with the Company or any Subsidiary, and except as provided in Section 1 above and this Section 2, the Grantee shall forfeit any unvested Restricted Stock Award and unpaid Cash
Performance Award. The Company may, in its sole discretion, which need not be reasonably exercised, determine to (a) vest non-vested Restricted Stock of the terminating Grantee on the date of termination, (b) continue to vest the
terminating Grantee in any non-vested Restricted Stock following the Grantee’s termination on such date as the Company determines or (c) pay the Grantee a portion or all of the Cash Performance Award as determined by the Company.

  

	3.	Transfers of Employment; Authorized Leave. 

  

	 	3.1	Transfers of Employment. Transfers of employment between the Company and a Subsidiary, or between Subsidiaries, shall not constitute a termination of employment for purposes
of the Awards. 

  

	 	3.2	Authorized Leave. Authorized leaves of absence from the Company shall not constitute a termination of employment for purposes of the Awards. For purposes of the Awards, an
authorized leave of absence shall be an absence while the Grantee is on military leave, sick leave or other bona fide leave of absence so long as the Grantee’s right to employment with the Company is guaranteed by statute, a contract or Company
policy. 

  

	 	3.3	Withholding. To the extent the Grantee has taxable income in connection with the grant, vesting or payment of the Awards or the delivery of shares of Company common stock,
the Company is authorized to withhold from any compensation payable to Grantee, including shares of common stock that the Company is to deliver to the Grantee, any taxes required to be withheld by foreign, federal, state, provincial or local law. By
executing the Award Agreement, the Grantee authorizes the Company to withhold any applicable taxes. 

  

	4.	Non-transferability. No rights under the Award Agreement shall be transferable otherwise than by will, the laws of descent and distribution or pursuant to a Qualified
Domestic Relations Order (“QDRO”), and, except to the extent otherwise provided herein, the rights and the benefits of the Award Agreement may be exercised and received, respectively, during the lifetime of the Grantee only by the Grantee
or by the Grantee’s guardian or legal representative or by an “alternate payee” pursuant to a QDRO. 

  

	5.	Limitation of Liability. Under no circumstances will the Company be liable for any indirect, incidental, consequential or special damages (including lost profits) of any form
incurred by any person, whether or not foreseeable and regardless of the form of the act in which such a claim may be brought, with respect to the Plan or the Company’s role as Plan sponsor. 

  

					
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	6.	Awards Subject to Plan. A copy of the Plan is included with the Award Agreement. The provisions of the Plan as now in effect and as the Plan may be amended in the future (but
only to the extent such amendments are allowed by the provisions of the Plan) are hereby incorporated in the Award Agreement by reference as though fully set forth herein. Upon request to the Secretary of the Company, a Grantee may obtain a copy of
the Plan and any amendments. 

  

	7.	Definitions. Unless redefined herein, all terms defined in the Plan have the same meaning when used as capitalized terms in this Award Agreement. 

  

	8.	Compliance with Regulatory Requirements. Notwithstanding anything else in the Plan, shares of Restricted Stock received on the date of grant may not be sold, pledged or
hypothecated until such time as the Company complies with all regulatory requirements regarding registration of the Restricted Stock or common stock to be issued under the terms of the Plan. 

  

	9.	Stock Certificates. The Committee may also cause any certificates representing shares of Restricted Stock issued pursuant to the Restricted Stock Award to be imprinted with
any legend which counsel for the Company considers advisable with respect to the restrictions or, if the shares of Restricted Stock are represented by book or electronic entry rather than a certificate, the Company may take such steps to restrict
transfer of the shares of Restricted Stock as counsel for the Company considers necessary or advisable. 

  

	10.	No Deferred Compensation. The award of Restricted Stock under the Award Agreement is intended to be exempt from the requirements of Section 409A of the Internal
Revenue Code of 1986, as amended (the “Code”) and the award of a Cash Performance Award under the Award Agreement is intended to meet the short-term deferral exception under Section 409A of the Code. Each Award Agreement shall be
administered, construed and interpreted in accordance with such intent. 

  

					
	YRC Worldwide Inc.	  	7	  	
	 Terms and Conditions of
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Performance and Restricted Stock Award Agreements
 March 30, 2009Transition Agreement, effective as of March 30, 2009

 Exhibit 10.1 
 TRANSITION AGREEMENT 
 This Transition Agreement (“Agreement”) is made by and between Polycom, Inc. (the
“Company”), and David R. Phillips (“Employee”) (collectively referred to as the “Parties” or individually referred to as a “Party”), effective as of March 30, 2009 (the “Effective Date”).

 WHEREAS, Employee is employed with the Company; 
 WHEREAS, Employee will continue to provide services to the Company effective February 17, 2009, through March 31, 2009, on a part-time basis; and 
 WHEREAS, Employee’s employment with the Company will terminate effective March 31, 2009 (the “Separation Date”). 
 NOW THEREFORE, in consideration of the mutual promises made herein, the Company and Employee hereby agree as follows: 
  

	A.	Transition Period 

 1. Position and Duties.
For the period beginning February 17, 2009, and ending March 31, 2009 (the “Transition Period”), Employee will be employed by the Company on a part-time basis equal to fifty percent (50%) of Employee’s regular
full-time schedule, reporting to Robert C. Hagerty, Chief Executive Officer, and engaging in activities related to transitioning the Company’s worldwide sales operations and other special projects as designated by Mr. Hagerty. 

2. Base Compensation. As compensation for services that Employee will provide to the Company during the Transition Period, Employee will
receive from the Company base compensation, pro-rated for the Transition Period, in the amount of One Hundred Eighty One Thousand Seven Hundred Fifty Dollars ($181,750) per annum (the “Transition Salary”) (which is equal to fifty percent
(50%) of Employee’s current base compensation of Three Hundred Sixty-Three Thousand Five Hundred Dollars ($363,500) per annum (the “Base Salary”)). The Transition Salary will be paid in accordance with the Company’s normal
payroll practices and be subject to the usual required withholdings. 
 3. Incentive Compensation. During the Transition Period,
Employee will continue to be eligible to participate in the Company’s then applicable bonus plan to the extent any amounts are earned under the plan pursuant to its terms, as if Employee were still a full time employee. 
 4. Employee Benefits. During the Transition Period, Employee will be entitled to participate in the employee benefit plans and programs currently
and hereafter maintained by the Company of general applicability to other executives of the Company. The Company reserves the right to cancel or change the benefit plans and programs it offers to its employees at any time. 
 5. Vacation. During the Transition Period, Employee will be eligible to accrue paid time off (“PTO”) under the Company’s PTO
policy. 

 6. Expenses. The Company will reimburse Employee for reasonable travel, entertainment or other
expenses incurred by Employee in the furtherance of or in connection with the performance of Employee’s duties hereunder during the Transition Period, in accordance with the Company’s expense reimbursement policy in effect from time to
time. 
 7. Resignation. On the Separation Date, Employee will be deemed to have resigned voluntarily from all Company positions held
by him, without any further required action by the Employee; provided however, if the Company requests, Employee will execute any documents necessary to reflect his resignation. 
  

	B.	Company Agrees 

 Assuming that this Agreement becomes effective in
accordance with its terms, including Employee’s performance of services to the Company during the Transition Period under the terms of Section A.1 (provided that the first time, if any, that the Company believes that Employee is not performing
such services, its shall provide Employee with written notice of such failure and five business days to cure such failure), and that the provisions set forth in Section C are satisfied, the Company will provide Employee with the following:

 1. Severance. In consideration for the execution by Employee of a Supplemental Separation and General Release Agreement, the form
of which is attached hereto as Exhibit A (the “Supplemental Agreement”), the Company shall pay Employee a total amount equal to Four Hundred Twenty-Seven Thousand Five Hundred Dollars ($427,500) (the “Severance
Payment”) less applicable deductions and tax withholdings, payable in two installments, as set forth and subject to the provisions of Section B.4.1. and B.4.2.. 
 2. Outplacement Services. Employee will be eligible for outplacement services provided by Right Management Consultants, as reasonably determined by the Company, for six (6) months following the Separation
Date. 
 3. COBRA. The Company will pay the cost, on behalf of Employee, for Employee’s cost of continued group health insurance
for Employee and/or Employee’s eligible and covered dependents under Title X of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) for twelve (12) months following the Separation Date so long as
Employee timely elects such continuation coverage. The Company’s obligation to pay for such continuation coverage shall cease immediately if and to the extent that Employee and/or Employee’s covered dependents (as the case may be) are no
longer entitled to receive COBRA continuation coverage. Employee agrees to notify a duly authorized officer of the Company, in writing, immediately upon Employee’s and/or a covered dependent’s beginning to receive health benefits from
another source, or as otherwise required by COBRA. 
 4. Section 409A. 
 4.1. Separation from Service. Notwithstanding anything to the contrary in this Agreement, any severance payments or benefits
payable to Employee upon a termination of employment, pursuant to this Agreement and the Supplemental Agreement, when considered together with any other severance payments or separation benefits, that are considered deferred compensation under
Section 409A of the Internal Revenue Code of 1986, as amended and the final regulations and any guidance promulgated thereunder (together, “Section 409A”), and are 

  

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not otherwise exempt therefrom, shall not be payable until Employee has a “separation from service” within the meaning of Section 409A (a
“Separation from Service”). It is intended and expected that Employee will have a Separation from Service from the Company on the Separation Date. 
 4.2. Delayed Payments. The payment of severance benefits will be delayed
until the date that is six (6) months and one (1) day following the Employee’s Separation from Service and will become payable in two (2) separate installments as follows: (a) the first installment of Three Hundred Twenty
Thousand Six Hundred Twenty-Five Dollars ($320,625) on the date that is six (6) months and one (1) day following the Employee’s Separation from Service (i.e., October 15th
, 2009) and (b) the second installment of One Hundred Six Thousand Eight Hundred Seventy-Five Dollars ($106,875) on the date that is twelve (12) months following the Employee’s Separation
from Service (i.e., April 1st, 2010). No interest will be accrued or paid on the delayed payments. Each payment and benefit payable under the
Agreement is intended to constitute a separate payment for purposes of Section 409A. 
  

	C.	Employee Agrees 

 1. Acknowledgments.
Employee agrees and acknowledges to the following: 
 1.1. Employee’s employment with the Company will end on the
Separation Date and the Company has no future obligation to re-employ Employee. 
 1.2. No later than the Separation Date,
Employee will return to the Company all documents and materials (in electronic, paper or other form) created or received by Employee in the course of employment with the Company (to the extent currently in his possession or control, it being
acknowledged that many of such documents or materials have been discarded since the date of such creation or receipt), except Employee’s personal copies of documents evidencing (a) Employee’s hire, compensation rate and payments,
discipline (if any) and benefits (b) stock options and documents received as a shareholder; (c) letter of termination; (d) the Employee Proprietary Information and Invention Agreement (the “Confidentiality Agreement”)
between Employee and the Company; and (e) any other agreements between Employee and the Company signed by the Employee. 
 1.3. No later than the Separation Date (but subject to the last sentence of this Section C.1.3.), Employee will return to the Company all items of property, including but not limited to, laptop computers, cell phones, personal digital
assistants, etc., provided by the Company for Employee’s use during employment with the Company in good condition and proper working order. To the extent Employee fails to return all property provided by the Company in good condition and proper
working order on or before the Separation Date, Employee understands and agrees that the Company may deduct from the Severance Payment the dollar value of the property that the Employee has failed to return or that Employee has returned in damaged
or non-working condition. Notwithstanding the foregoing, Employee shall be permitted to retain Employee’s Company-issued computer laptop (with proprietary Company and Company licensed software removed), mobile phone, assigned telephone number
and PDA (respectively the “Company Devices”) for the continued use of Employee (provided, that any Company files on the laptop and PDA are deleted). 
  

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 1.4. Even if Employee does not sign this Agreement, Employee would still have continuing
obligations under Employee’s Confidentiality Agreement, a copy of which has been provided to Employee. This Agreement is not intended to, and does not, alter, eliminate or supersede Employee’s continuing obligations (other than obligations
under paragraph C.7. of the Confidentiality Agreement, which are superseded hereby) under his Confidentiality Agreement. 
 1.5. Within seven (7) days of issuance of Employee’s final paycheck by the Company, Employee will confirm that he has received and reviewed his final paycheck and the Company has paid all salary, wages, bonuses, accrued vacation,
and any and all other compensation due to Employee through his final day of employment. No other amounts are due to the Employee from the Company, except those amounts that may become due under this Agreement. 
 2. Confidentiality. Employee will not disclose to others the existence of this Agreement, the contents or terms of this Agreement, or the
consideration for this Agreement (hereinafter collectively referred to as “Settlement Information”), except that Employee may disclose such information to Employee’s spouse or domestic/civil union partner and to Employee’s
attorney or accountant (in order for such individuals to render personal services to Employee), so long as such individuals agree to keep such information confidential. In the event the prior agreement to be bound by the terms of this
confidentiality provision is not obtained from such individuals, the disclosure may not be made without breach of this Agreement. Nothing in this Section C.2., or elsewhere in this Agreement, is intended to prevent or prohibit Employee from
(a) providing information regarding Employee’s former employment relationship with the Company, as may be required by law or legal process; or (b) cooperating, participating or assisting in any government entity investigation or
proceeding. Notwithstanding the foregoing, Employee’s obligations under the first two sentences of this Section C.2. shall terminate in the event that the Company makes public (through a securities filing or otherwise) the Settlement
Information. 
 3. Non-Compete; Non-Solicitation. 
 3.1. Employee acknowledges that during the course of the Employee’s involvement with the Company, Employee has received and been
privy to Company confidential information and trade secrets and will continue to receive Company confidential information and trade secrets during the course of Employee’s employment with the Company, and that Company has a legitimate interest
in ensuring that such confidential information and trade secrets remain confidential and are not disclosed to third parties. Thus, to avoid the actual or threatened misappropriation of such trade secrets and confidential information, Employee agrees
that the receipt of the Severance Payment pursuant to Section B.1. will be subject to Employee agreeing that beginning on the Effective Date and ending on the first anniversary of the Separation Date (the “Non-Competition Period”),
Employee shall not, directly or indirectly, without the prior written consent of Company: (a) engage in, anywhere in the Restricted Territory (as defined below), whether as an employee, agent, consultant, advisor, independent contractor,
proprietor, principal, partner, stockholder, officer, director or otherwise, or have any ownership interest in (except for ownership of one percent (1%) or less of any publicly-held entity), or participate in or facilitate the financing,
operation, management or control of, any Competing Person (as defined below) that directly or indirectly engages in a Competing Business Purpose (as defined below); 

  

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or (b) contact or solicit Company’s customers in connection with a Competing Business Purpose. “Competing Business Purpose” means any
business relating to (a) audio-conferencing, and (b) two way or multi way video communications, including but not limited to (1) videoconferencing, (2) telepresence conferencing, (3) immersive room conferencing,
(4) videoconferencing desktop systems or videoconferencing software, (5) wired or wireless videoconferencing (6) telephony videoconferencing systems or applications, (7) classroom videoconferencing systems, (8) auditorium
videoconferencing systems, (9) medical videoconferencing systems, (10) videoconferencing infrastructure, including bridges and management, and (11) any other wired or wireless videoconferencing devices, videoconferencing consumer
set-top boxes or videoconferencing software client included therein, or any similar means of videoconferencing communications. Competing Business Purpose shall also include without limitation (i) the ownership, design, development, engineering
or licensing of any intellectual property specifically targeted to the foregoing, or (ii) the design, development or marketing of any product or Service or engineering or manufacturing of any product, in each case specifically targeted to the
foregoing, and where “Service(s)” is defined to include without limitation maintenance, professional, hosting or installation service(s). “Competing Person” means (i) any Person for which the Competing Business Purpose
constitutes the primary focus of such Person’s business or (ii) with respect to Persons that are not so primarily engaged in the Competing Business Purpose, any division or segment of the Person that is primarily engaged in the Competing
Business Purpose. “Restricted Territory” means worldwide. 
 3.2. Beginning on the Effective Date and ending twelve
(12) months from the Separation Date (the “No Hire Period”), Employee shall not, directly or indirectly, without the prior written consent of Company, (a) solicit for hire (other than through general industry solicitations of
employment) any employee, officer, or director of the Company or any subsidiary of Company, or any person known to Employee to be an agent, consultant, advisor or independent contractor of the Company or any subsidiary of Company, to the extent that
any such employee, officer, director or other such person provided services to the Company or any subsidiary of the Company within the one year period prior to the Separation Date (each a “Covered Person” and collectively, the
“Covered Persons”) or (b) overtly induce or encourage any Covered Person to terminate such employee’s employment with the Company or such subsidiary of Company; provided, however, that the foregoing is not intended to prohibit
the Employee from engaging independent accounting or independent law firms (subject to issues relating to conflicts of interest, which are not being waived herein) from providing services to such entities. 
 3.3. The covenants contained in Section C.3.1. and C.3.2. hereof shall be construed as a series of separate covenants, one for each
country, province, state, city or other political subdivision of the Restricted Territory. Except for geographic coverage, each such separate covenant shall be deemed identical in terms to the covenants contained in Section C.3.1. and Section C.3.2.
hereof. If, in any judicial proceeding, a court refuses to enforce any of such separate covenants (or any part thereof), then such unenforceable covenant (or such part) shall be eliminated from this Agreement to the extent necessary to permit the
remaining separate covenants (or portions thereof) to be enforced. To the extent that the provisions of this Section C.3. are deemed to exceed the time, geographic or scope limitations permitted by applicable law, then such provisions shall be
reformed to the maximum time, geographic or scope limitations, as the case may be, permitted by applicable laws. 
  

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 3.4. Employee acknowledges that (a) Employee is familiar with the foregoing
covenants not to compete and not to hire; (b) the covenants set forth in Section C.3.1. and Section C.3.2. represent only a limited restraint and allows Employee to pursue Employee’s livelihood and occupation without unreasonable or unfair
restrictions; and (c) Employee is an officer and/or key member of the management of the Company. Employee represents that Employee is fully aware of Employee’s obligations hereunder, and acknowledges that the limitations of length of time,
geography and scope of activity agreed to in this Agreement are reasonable because, among other things: (i) the Company is engaged in a highly competitive industry, (ii) Employee has unique access to, and, as applicable, will continue to
have access to, the trade secrets and know-how of the Company, including, without limitation, the plans and strategy (and, in particular, the competitive strategy) of the Company, (iii) in the event Employee’s employment with the Company
ended, Employee would be able to obtain suitable and satisfactory employment without violation of this Agreement, and (iv) this Agreement provides no more protection than is necessary to protect the Company’s interests in its goodwill,
trade secrets and confidential information. 
 3.5. Employee agrees that during the Non-Competition Period, prior to becoming
an employee or partner of or consultant to any Person, Employee will (a) provide the Company with written notice of such employment, partnership or consultancy and (b) provide such Person with an executed copy of this Agreement.

 3.6. Employee agrees that each of the Non-Competition Period and the No-Hire Period shall be tolled during any period of
violation of the covenants contained in Section C.3.1. or Section C.3.2. 
 4. Non-Disparagement. Employee agrees to refrain from any
defamation, libel, or slander of any of the Releasees, and agrees to refrain from any tortious interference with the contracts and relationships of any of the Releasees. Employee may direct any inquiries by potential future employers to the
Company’s Human Resources department, which will use its best efforts to provide only the Employee’s last position and dates of employment. The Company shall, and shall direct the Company’s current officers and directors (during the
period of their employment with the Company) to refrain from any defamation, libel or slander of Employee and any tortious interference with the contracts, relationships and prospective economic advantage of Employee. 
  

	D.	Employee and Company Agree 

 1. No Admission of
Liability. No action taken by the Parties, previously or in connection with this Agreement, shall be construed to be: (a) an admission of the truth or falsity of any claims made, or (b) an admission by either Party of any fault or
liability whatsoever to the other Party or to any third party. 
 2. Costs. Except as otherwise set forth below, the Parties will
each bear their own costs, expert fees, attorneys’ fees and other fees incurred in connection with this Agreement. 
 3.
Arbitration. THE PARTIES AGREE THAT ANY AND ALL DISPUTES ARISING OUT OF THE TERMS OF THIS AGREEMENT, THEIR INTERPRETATION, AND ANY OF THE MATTERS HEREIN RELEASED, WILL BE SUBJECT TO ARBITRATION IN 

  

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PLEASANTON, CALIFORNIA BEFORE JAMS, PURSUANT TO ITS THEN-CURRENT EMPLOYMENT ARBITRATION RULES & PROCEDURES (“JAMS RULES”). THE PARTIES
AGREE THAT THE PREVAILING PARTY IN ANY ARBITRATION WILL BE ENTITLED TO INJUNCTIVE RELIEF IN ANY COURT OF COMPETENT JURISDICTION TO ENFORCE THE ARBITRATION AWARD. THE PARTIES AGREE THAT THE PREVAILING PARTY IN ANY ARBITRATION WILL BE AWARDED ITS
REASONABLE ATTORNEYS’ FEES AND COSTS. THE PARTIES HEREBY WAIVE THEIR RIGHT TO HAVE ANY DISPUTE BETWEEN THEM RESOLVED IN A COURT OF LAW BY A JUDGE OR JURY. 
 4. Judicial Interpretation/Modification. In the event that any one or more provisions (or portion thereof) of this Agreement is held to be invalid, unlawful or unenforceable, for any reason, the invalid,
unlawful or unenforceable provision (or portion thereof) will be construed or modified so as to provide Releasees with the maximum protection that is valid, lawful and enforceable, consistent with the intent of the Company and Employee in entering
into this Agreement. If such provision (or portion thereof) cannot be construed or modified so as to be valid, lawful and enforceable, that provision (or portion thereof) will be construed as narrowly as possible and will be severed from the
remainder of this Agreement (or provision), and the remainder will remain in effect and be construed as broadly as possible, as if such invalid, unlawful or unenforceable provision (or portion thereof) had never been contained in this Agreement.

 5. Entire Agreement. Except for the Confidentiality Agreement and the Supplemental Agreement, as of the Effective Date, this
Agreement cancels, supersedes and replaces any and all prior agreements (written, oral or implied-in-fact or in law), including without limitation all non-competition agreements or covenants, between Employee and the Company regarding all of the
subjects covered by this Agreement and the Supplemental Agreement (but does not cancel, supersede or replace the agreements referenced in Section B.3 of the Supplemental Agreement). This Agreement and the Supplemental Agreement are the full,
complete and exclusive agreement between Employee and the Company regarding all of the subjects covered by this Agreement and the Supplemental Agreement (except with respect to the agreements referenced in Section B.3 of the Supplemental Agreement),
and neither the Employee nor the Company is relying on any representation or promise that is not expressly stated in this Agreement or the Supplemental Agreement. 
 6. No Oral Modification. This Agreement may only be amended by a written agreement signed by Employee and the President of the Company. 
 7. Attorney Fees. The Company agrees to reimburse promptly Employee up to Ten Thousand Dollars ($10,000.00) in reasonable legal fees and costs
incurred by him in connection with the discussion and review of the matters addressed herein and the review and negotiation of this Agreement and the Supplemental Agreement. Furthermore, in the event that either Party brings an action to enforce or
effect its rights under this Agreement or the Supplemental Agreement, the prevailing party shall be entitled to recover its costs and expenses, including the costs of mediation, arbitration, litigation, court fees, plus reasonable attorneys’
fees, incurred in connection with such an action. 
 8. Governing Law. This Agreement will be governed by the internal substantive
laws, but not the choice of law rules, of the State of Texas. 
  

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 9. Counterparts. This Agreement may be executed in counterparts, and each counterpart will have
the same force and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. 
 IN WITNESS WHEREOF,
the Parties have executed this Agreement on the respective dates set forth below. 
  

									
	 	 	 	 	 	 	POLYCOM, INC.
				
	Dated: March 30, 2009	 		 	By	 	/s/ Robert C. Hagerty
		 		 		 		 	Robert C. Hagerty, CEO and President

 I HAVE READ, UNDERSTAND AND VOLUNTARILY ACCEPT AND AGREE TO THE ABOVE TERMS. 
  

							
		 		 		 	David R. Phillips, an individual
				
	Dated: 3/24/09	 		 		 	/s/ David R. Phillips

  

 - 8 - 

 EXHIBIT A 
 SUPPLEMENTAL SEPARATION AND GENERAL RELEASE AGREEMENT 
 This Supplemental Separation and General Release
Agreement (“Supplemental Agreement”) is made by and between Polycom, Inc. (the “Company”), and David R. Phillips (“Employee”) (collectively referred to as the “Parties” or individually referred to as a
“Party”). 
 WHEREAS, Employee was employed with the Company; 
 WHEREAS, the Company and Employee agreed to a transition period from February 17, 2009
through March 31, 2009 (the “Transition Period”) as evidenced by the terms of the Transition Agreement that Employee signed on 24th March 2009 (the “Agreement”) which shall remain in full force and effect and is fully incorporated herein except to the extent it is not consistent with this Supplemental Agreement; and 
 WHEREAS, Employee’s employment with the Company terminated effective March 31, 2009 (the “Separation Date”). 
 NOW THEREFORE, in consideration of the mutual promises made herein, the Company and Employee hereby agree as follows: 
  

	A.	Company Agrees 

 1. Severance Benefits.
Assuming that this Supplemental Agreement becomes effective under the terms of Section C.5. in accordance with its terms, and that the provisions set forth in Section B are satisfied, the Company will provide Employee with the benefits and amounts
provided in the Agreement, payable pursuant to Section B.4. of the Agreement. 
  

	B.	Employee Agrees 

 1. Payment of Salary.
Employee acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, paid time off, housing allowances, relocation costs, interest, severance, stock, stock options, outplacement costs, fees, commissions and
any and all other benefits and compensation due to Employee, other than those obligations as set forth under this Supplemental Agreement. 
 2. Release of Claims. Except as described in Section B.3. below, which identifies claims expressly excluded from this waiver and release, Employee waives and releases the Company, its affiliates, successors and assigns, any Company
sponsored benefit plans, the administrators, fiduciaries, and trustees of any Company sponsored or established benefit plans, and the current and former officers, directors, agents and employees (in each case, in their capacities as such) of the

 
Company and its affiliates, and any Company sponsored or established benefit plans (collectively, the “Releasees”), to the maximum extent permitted
by law, from any and all claims, whether or not now known to Employee, arising from or relating to any and all acts, events and omissions occurring prior to the date Employee signs this Supplemental Agreement. The claims being waived and released
include, without limitation: 
 (a) any and all claims relating to or arising from Employee’s employment relationship
with the Company and the termination of that relationship; 
 (b) any and all claims relating to, or arising from,
Employee’s right to purchase, or actual purchase of, shares of stock of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and
securities fraud under any state or federal law; 
 (c) any and all claims for wrongful discharge of employment; termination
in violation of public policy; discrimination; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional
distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery;
invasion of privacy; false imprisonment; and conversion; 
 (d) any and all claims for violation of any federal, state, or
municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standards
Act, except as prohibited by law; the Fair Credit Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee Retirement Income Security Act of 1974; the Worker Adjustment and Retraining
Notification Act; the Family and Medical Leave Act, except as prohibited by law; the Sarbanes-Oxley Act of 2002; or the Uniformed Services Employment and Reemployment Rights Act; 
 (e) any and all claims for violation of the federal, or any state, constitution; 
 (f) any and all claims arising out of any other laws and regulations relating to employment or employment discrimination; and 

(g) any and all claims for attorneys’ fees and costs. 
 3. Excluded Claims. The only claims that are not being waived and released by Employee under this Section B. are claims Employee may have for: 
 (a) unemployment, state disability, workers compensation and/or paid family leave insurance benefits pursuant to the terms of applicable
state law; 
  

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 (b) continuation of existing participation in Company-sponsored group health benefit
plans, at Employee’s full expense, under the federal law known as COBRA and/or under an applicable state counterpart law; 
 (c) any benefit entitlements that are vested as of the Separation Date pursuant to the terms of a Company-sponsored benefit plan governed by the federal law known as “ERISA”; 
 (d) violation of any federal, state or local statutory and/or public policy right or entitlement that, by applicable law, is not waivable;

 (e) claims arising from or relating to the obligations (or breach thereof) of the Company under the Agreement or this
Supplemental Agreement; 
 (f) any rights of Employee (i) as a shareholder of the Company, or (ii) to exercise any
vested stock options pursuant to the terms of the Company stock option plans and Employee’s applicable stock option agreements; 
 (g) any (i) rights of Employee under the Indemnification Agreement dated as of June 30, 2006 between Employee and the Company, (ii) rights that Employee may have following termination of his employment under the
Company’s general liability or director/officer insurance coverage (subject to the terms of such coverage) and (iii) rights of Employee to indemnification under applicable law, the Company’s charter documents or any other similar
agreement in existence between the Company and Employee; and 
 (h) any wrongful act or omission occurring after the date
Employee signs this Supplemental Agreement. 
 4. Government Agency Claims Exception. Nothing in this Section B., or elsewhere in this
Supplemental Agreement, prevents or prohibits Employee from filing claims with a government agency, such as the Equal Employment Opportunity Commission, that is responsible for enforcing a law on behalf of the government. However, Employee
understands that Employee is waiving and releasing all claims for monetary damages and any other form of personal relief, and therefore, may only seek and receive non-personal forms of relief through any such claims. 
 5. Acknowledgment of Waiver of Claims under ADEA. Employee acknowledges that he is waiving and releasing any claims that he may have under the Age
Discrimination in Employment Act of 1967 (“ADEA”), and Employee represents that this waiver and release is knowing and voluntary. Employee further acknowledges that he has been advised by this writing that: (a) he should consult with
an attorney prior to executing this Supplemental Agreement; (b) he has twenty-one (21) calendar days within which to consider this Supplemental Agreement; (c) he has seven (7) calendar days following his execution of this
Supplemental Agreement to revoke his acceptance of this Supplemental Agreement; and (d) nothing in this Supplemental Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this
waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so, unless specifically authorized by federal law. 
  

 - 3 - 

 In the event Employee signs this Supplemental Agreement and returns it to the Company in less than the twenty-one
(21) day period identified above, Employee hereby acknowledges that he has freely and voluntarily chosen to waive the remainder of the twenty-one (21) day consideration period. Employee acknowledges and understands that thereafter, if he
wishes to revoke acceptance of this Supplemental Agreement, he must deliver written notice of revocation to the Senior Vice President, Human Resources at the Company. 
 6. Unknown Claims. Employee further waives any rights under California Civil Code Section 1542 or any similar state statute or common law principle. California Civil Code Section 1542 provides as
follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE
TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
  

	C.	Employee and Company Agree 

 1. Arbitration.
THE PARTIES AGREE THAT ANY AND ALL DISPUTES ARISING OUT OF THE TERMS OF THIS SUPPLEMENTAL AGREEMENT, THEIR INTERPRETATION, AND ANY OF THE MATTERS HEREIN RELEASED, WILL BE SUBJECT TO ARBITRATION IN PLEASANTON, CALIFORNIA BEFORE JAMS, PURSUANT TO ITS
THEN-CURRENT EMPLOYMENT ARBITRATION RULES & PROCEDURES (“JAMS RULES”). THE PARTIES AGREE THAT THE PREVAILING PARTY IN ANY ARBITRATION WILL BE ENTITLED TO INJUNCTIVE RELIEF IN ANY COURT OF COMPETENT JURISDICTION TO ENFORCE THE
ARBITRATION AWARD. THE PARTIES AGREE THAT THE PREVAILING PARTY IN ANY ARBITRATION WILL BE AWARDED ITS REASONABLE ATTORNEYS’ FEES AND COSTS. THE PARTIES HEREBY WAIVE THEIR RIGHT TO HAVE ANY DISPUTE BETWEEN THEM RESOLVED IN A COURT OF LAW BY A
JUDGE OR JURY. 
 2. Judicial Interpretation/Modification. In the event that any one or more provisions (or portion thereof) of
this Supplemental Agreement is held to be invalid, unlawful or unenforceable, for any reason, the invalid, unlawful or unenforceable provision (or portion thereof) will be construed or modified so as to provide Releasees with the maximum protection
that is valid, lawful and enforceable, consistent with the intent of the Company and Employee in entering into this Supplemental Agreement. If such provision (or portion thereof) cannot be construed or modified so as to be valid, lawful and
enforceable, that provision (or portion thereof) will be construed as narrowly as possible and will be severed from the remainder of this Supplemental Agreement (or provision), and the remainder will remain in effect and be construed as broadly as
possible, as if such invalid, unlawful or unenforceable provision (or portion thereof) had never been contained in this Supplemental Agreement. 
 3. Entire Agreement. Except for the Agreement and the Confidentiality Agreement, this Supplemental Agreement cancels, supersedes and replaces any and all prior agreements (written, oral or implied-in-fact or in law) between Employee
and the Company regarding all of the subjects 

  

 - 4 - 

 
covered by this Supplemental Agreement. This Supplemental Agreement (together with the Agreement) is the full, complete and exclusive agreement between
Employee and the Company regarding all of the subjects covered by this Supplemental Agreement, and neither the Employee nor the Company is relying on any representation or promise that is not expressly stated in the Agreement or this Supplemental
Agreement. 
 4. Governing Law. This Supplemental Agreement will be governed by the internal substantive laws, but not the choice of
law rules, of the State of Texas. 
 5. Effective Date. Employee has twenty-one (21) days to consider whether to sign this
Supplemental Agreement and then has seven (7) days after signing this Supplemental Agreement to revoke his acceptance. This Supplemental Agreement will become effective on the eighth (8th) day after Employee signed this Supplemental
Agreement without modification, so long as it has been signed by both Parties, and has not been revoked before that date (the “Effective Date”). 
 6. Voluntary Execution of Supplemental Agreement. This Supplemental Agreement is executed voluntarily and with the full intent of releasing all claims, and without any duress or undue influence by any of the
Parties. The Parties acknowledge that: (a) they have read this Supplemental Agreement; (b) they have been represented in the preparation, negotiation, and execution of this Supplemental Agreement by legal counsel of their own choice or
that they have voluntarily declined to seek such counsel; (c) they understand the terms and consequences of this Supplemental Agreement and of the releases it contains; and (d) they are fully aware of the legal and binding effect of this
Supplemental Agreement. 
 7. Counterparts. This Supplemental Agreement may be executed in counterparts, and each counterpart will
have the same force and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. 
 IN WITNESS
WHEREOF, the Parties have executed this Supplemental Agreement on the respective dates set forth below. 
  

									
		 		 	POLYCOM, INC.
					
	Dated:	 	 	 		 	By	 	 

 I HAVE READ, UNDERSTAND AND VOLUNTARILY ACCEPT AND AGREE TO THE ABOVE TERMS. 
  

									
		 		 	David R. Phillips, an individual
				
	Dated:	 	 	 		 	 

  

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