Letter Agreement Extending Temporary Living and Storage Benefits for Andrew M. Miller – Polycom, Inc.
This letter agreement between Polycom, Inc. and Andrew M. Miller, its President and CEO, extends Mr. Miller's temporary living benefits and storage expense reimbursement for four additional months through August 2011, with storage expenses capped at $480 per month. All relocation expenses will be grossed up for taxes. If Mr. Miller voluntarily leaves Polycom before July 1, 2011, he must repay 50% of the total relocation expenses; no repayment is required if he leaves on or after that date.
Exhibit 10.52
February 15, 2011
Mr. Andrew Miller
President & Chief Executive Officer
Polycom, Inc.
4750 Willow Road
Pleasanton, CA 94588
Dear Andy:
The purpose of this letter is to memorialize the extension of your temporary living benefits for an additional four month period through August 2011 and the provision of storage expenses for four additional months in an amount up to $480 per month, as approved by the Compensation Committee in connection with your relocation to California. As set forth in your original offer letter dated June 5, 2009, all relocation expenses are to be provided to you on a grossed up basis and are subject to the following remaining repayment schedule should you voluntarily terminate your employment with Polycom: 50% of the total relocation expense if you voluntarily terminate your employment prior to the two-year anniversary of your employment with Polycom (i.e. July 1, 2011), and no repayment obligation if you voluntarily terminate your employment on or after July 1, 2011.
Please do not hesitate to contact me if you have any questions.
| Sincerely, |
| /s/ ASHLEY D. GOLDSMITH |
| Ashley D. Goldsmith |
| Executive Vice President, Human Resources |
