oh by the way, in case you hadn't spotted it, you can set the TARGETLIST variable at the top to be a : seperated list of directories, whatever and however many or few you wish (provided there's at least 1) and it should automatically figure out what to do.
INTERVAL is how many seconds to wait once it's processed all the files it's found this run before looking for more files. If it finds none it silently goes back to sleep for INTERVAL seconds again (you could set this to 1 if you want it to be highly responsive, or 300 to be pretty gentle on the system).