Exhibit 10.2
AMENDMENT TO KIM
NIEDERMAN
TRANSITION AND SEPARATION
AGREEMENT
This Amendment is entered into as of
January 25, 2006, by and between Polycom, Inc. (the
“Company”) and Kim Niederman (“Employee”).
Unless otherwise defined herein, capitalized terms used in this
Amendment shall have the same meaning as in the Transition and
Separation Agreement between the Company and Employee dated
August 25, 2005.
WHEREAS, Employee and the Company
entered into a Transition and Separation Agreement dated
August 25, 2005 (the “Separation Agreement”);
and
WHEREAS, Employee and the Company
hereby desire to amend the Separation Agreement in the manner
described below.
NOW, THEREFORE, for the
consideration set forth herein, the Company and the Employee agree
to amend the Separation Agreement, effective as of January 25,
2006, as follows:
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1.
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The preamble
containing the definition of the term “Termination
Date” shall be amended to read in its entirety as
follows:
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“Employee will tender his
resignation from employment with the Company in connection with the
Company’s restructuring to be effective on the last business
day of the quarter in which the start date of Employee’s
replacement occurs (the “Termination Date”), and the
Company has accepted that resignation;”
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2.
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Section 1(b) shall be amended to read in
its entirety as follows:
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“ Quarterly Bonus.
Until the Termination Date, Employee is eligible to receive four
quarterly bonuses in the amount of $50,000 each, less applicable
withholdings, if the Company meets its revenue targets of [***] for
the thir
