Common use of Ongoing Grants Clause in Contracts

Ongoing Grants. Each Nonemployee Director who is reelected as such at an Annual Meeting of the Company’s Stockholders, automatically shall receive, as of the date of such Annual Meeting, 10,000 Restricted Stock Units.

Appears in 1 contract

Sources: Equity Incentive Plan (Polycom Inc)

Ongoing Grants. Each Nonemployee Director who is reelected as such at an Annual Meeting of the Company’s Stockholders, automatically shall receive, as of the date of such Annual Meeting, 10,000 Shares of Restricted Stock UnitsStock.

Appears in 1 contract

Sources: 2004 Equity Incentive Plan (Polycom Inc)