# Exhibit 10.27

# IOMEGA
CORPORATION

# NON-STATUTORY
STOCK OPTION AGREEMENT
UNDER THE 2005 DIRECTOR STOCK OPTION PLAN

1.      
Grant of Option.  Iomega Corporation, a Delaware corporation (the Company), hereby grants to

, (the Optionee) an option on 
(the Grant Date) pursuant to the Company's
2005 Director Stock Option Plan (the Plan), to purchase an aggregate of

shares of Common Stock (Common Stock) of the Company at a price of $ per share, purchasable as set forth in, and subject to the terms and
conditions of, this Non-Statutory Stock Option Agreement (the Agreement) and the Plan.
Except where the context otherwise
requires, the term Company shall include the parent and all present and future subsidiaries of
the Company as defined in Sections
424(e) and 424(f) of the Internal Revenue Code of 1986, as amended or replaced from time to time (the Code).

2.      
Non-Statutory Stock Option.  This option is a non-statutory stock option and is not intended to qualify as an
incentive stock option under Section 422 of the Code.

3.      
Exercise of Option and Provisions for Termination.

(a)  Vesting of Option.

(i)  Scheduled Vesting.  Except as otherwise provided in this Agreement,
this option may be exercised prior
to the tenth anniversary of the grant (hereinafter the Expiration Date).
Each option grant shall vest at the rate of twenty-five
percent (25%) per year commencing on the first anniversary
of the date of grant and continuing on each subsequent anniversary date
until fully vested.

The right of exercise shall
be cumulative so that if the option is not exercised to the maximum extent
permissible during any exercise period, it shall be exercisable, in whole or in
part, with respect to all shares not so purchased at any time prior to the
Expiration Date or the earlier termination of this option. This option may not
be exercised at any time on or after the Expiration Date.

(ii) Vesting Upon Death or Disability.  If a director's service is terminated by reason of death or
disability, all then unvested options shall automatically vest and become immediately exercisable in full.

(iii) Vesting Upon a Change of Control.  In the event of a Change of Control (as defined in the Plan),
one-half of the shares subject to this Agreement which are not, by their terms, then exercisable, shall become immediately
exercisable.  All shares subject to this Agreement which are not exercised at or prior to the occurrence of the Change of Control
shall terminate immediately upon consummation of the Change of Control.

(b) Exercise Procedure; Payment of Purchase Price.  Subject to the conditions set forth in this Agreement, this
option shall be exercised by the Optionee's delivery of written notice of exercise to the Secretary of the Company specifying the
number of shares to be purchased and the purchase price to be paid therefore accompanied by payment in full in the manner provided in
the Plan.  Such exercise shall be effective upon receipt by the Secretary of the Company of such written notice together with the
required payment.  The Optionee may purchase fewer than the total number of shares covered hereby, provided that no partial exercise
of this option may be for any fractional share or for fewer than ten whole shares.

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(c) Continuous Service as a Director of the Company Required. Except as otherwise provided in this Section 3, this
option may not be exercised unless the Optionee, at the time of exercise of this option, is, and has been at all times since the date
of grant of this option, a director of the Company.

(d) Termination of Relationship With the Company.  If the Optionee ceases to be a director of the Company for any
reason, then, except as otherwise provided in Section 3(e) of this Agreement, the right to exercise this option shall terminate 90
days after such cessation (but in no event on or after the Expiration Date), provided that
 this option shall be exercisable only to
the extent that the Optionee was entitled to exercise this option on the date of such cessation.

(e) Exercise Period Upon Death, Disability or Normal Retirement.
  If the Optionee ceases to be a director by reason
of (i) death, (ii) disability (within the meaning of Section 22(e)(3) of the Code or any successor provision thereto) or (iii) the
director's resignation or decision not to stand for re-election at age 55 of older following five years of consecutive service as a
director,  the period during which then vested, exercisable options may be exercised shall be two years rather than 90 days (but in
no event after the Expiration Date).  In such case, this option may be exercised by the Optionee or by the person to whom this option
is transferred by will, by the laws of descent and distribution, or by written notice filed pursuant to Section 3(f) of this
Agreement; provided that this option shall be exercisable only to the extent that this option was exercisable by the Optionee on the
date of his or her death, disability, resignation or expiration of term following a decision not to stand for re-election.  Except as
otherwise indicated by the context, the term Optionee,
as used in this option, shall be deemed to include the estate of the
Optionee or any person who acquires the right to exercise this option by bequest or inheritance or otherwise by reason of the death
of the Optionee.

(f)  Designation of Beneficiary.  The Optionee, by written notice to the Company, may designate one or more persons
(and from time to time change such designation) including his legal representative, who, by reason of the director's death, shall
acquire the right to exercise all or a portion of this option in accordance with the provisions of Section 3(e) of this Agreement.
If the person or persons so designated wish to exercise any portion of the option, they must do so within the term of the option as
provided herein.  Any exercise by a representative shall be subject to the provisions of this Agreement.

4.      
Provisions of the Plan.  This option is subject to the provisions of the Plan, a copy of which is furnished to the
Optionee with this option.

5.      
Transferability.  Except as otherwise provided in this Agreement or the Plan, this option is personal and no rights or
benefits granted hereunder may be transferred, assigned, pledged or hypothecated in any way (whether by operation of law or
otherwise, other than by will, or by the laws of descent and distribution) nor shall any such rights be subject to execution,
attachment or similar process; provided, however, that any option may be transferred by an Optionee to any member of his/her
immediately family (spouse, children, parents, grandchildren, grandparents and siblings) or to a trust for any such family member.
Upon any attempt to transfer, assign, pledge, hypothecate or otherwise dispose of this option or of such rights contrary to the
provisions hereof, or upon the levy of any attachment or similar process upon this option or such rights, this option and such rights
shall, at the election of the Company, become null and void.

6.      
Withholding Taxes.  The Company's obligation to deliver shares upon the exercise of this option shall be subject to the
 Optionee's satisfaction of all applicable federal, state and local income and tax withholding requirements.

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7.      
Miscellaneous.

(a)  Amendment.  Except as provided herein, this option may not be amended or otherwise modified unless evidenced in
writing and signed by the Company and the Optionee.

(b)  Governing Law.  This option shall be governed by and construed in accordance with the laws of the State of
Delaware, excluding choice-of-law principles of the law of such state that would require the application of the laws of a
jurisdiction other than such state.

`Dated:                                               IOMEGA CORPORATION
      ----------------------------
                                                     By:
                                                         -------------------------------------------------

                                                     Name:
                                                           -----------------------------------------------

                                                     Title:
                                                           -----------------------------------------------`

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OPTIONEE'S ACCEPTANCE

The
undersigned hereby accepts the foregoing option and agrees to the terms and
conditions thereof. The undersigned hereby acknowledges receipt of a copy of the
Companys 2005 Director Stock Option Plan and Prospectus.

`DATED:                                                        OPTIONEE
      ----------------------------

                                                              -----------------------------------
                                                              (Signature)



                                                              -----------------------------------
                                                              (Name)


                                                              ADDRESS:
                                                                      ---------------------------

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