# Exhibit 10.28

# IOMEGA
CORPORATION

EXECUTIVE AGREEMENT TO DEFER COMPENSATION (Agreement)

WHEREAS,
Iomega Corporation (Iomega) is not profitable and the company
intends to review its overall business strategy, organization and cost
structure, with the goal to return the company to profitability; and

WHEREAS,
as a means to reduce costs, the Chief Executive Officer has voluntarily agreed
to defer a portion of his base salary under the conditions set forth below.

NOW,
THEREFORE, the undersigned Executive agrees as follows:

| | 1. | Deferral of Base Salary.   Executive agrees to defer
 10% of his Base Salary payable with respect to services
          performed after the date of this election.   Current Base Salary means Executive's bi-weekly rate of base pay
          (excluding any bonuses or commissions) as of June 15, 2005, or such base pay as may thereafter be established by
          the Committee.  Amounts deferred are referred to as the Deferred Sum.  Current Base Salary minus 10% is
          referred to as Adjusted Base Salary.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 2. | Deferral Period.

In
the event Iomega achieves positive operating income (on a GAAP basis) in any two
consecutive fiscal quarters commencing on June 18, 2005 and ending with its
second fiscal quarter 2006 (the Goal), then on August 1, 2006: i)
the Deferred Sum, less required income and payroll tax withholdings, will be
paid back to the Executive in full; and ii) the Executives base pay will
automatically revert upward to the Current Base Salary level.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | In
the event Iomega does not achieve the Goal for any reason, then: i) the Deferred
Sum will be forfeited in its entirety and shall not be repaid to the Executive;
and ii) absent any separate review, approval and adjustment by Iomegas
Compensation Committee (the Committee) of the Board of Directors,
Executives base pay while so employed will remain at the Adjusted Base
Salary level.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 3. | Other Terms and Conditions of Employment.   Any severance or change of control benefits, bonus payments, or
          vacation accrual payouts that the Executive may be eligible for under a separate written agreement with, or
          benefit plan of, Iomega shall be calculated from Current Base Salary (and not from Adjusted Base Salary).
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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| | 4. | Voluntary Election.   Executive acknowledges that he has read this Agreement, understands its contents, has had
          the opportunity to consult with his personal advisors, and has voluntarily entered into this Agreement.
          Executive agrees that he will never allege or assert that the salary deferral provisions of this Agreement
          create a breach or trigger, or constitute a constructive discharge of employment in any other written
          employment agreement, severance agreement or similar agreement in effect with Executive.
| | -- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 5. | Employment.   Nothing in this Agreement shall create or imply any continued term of employment of Executive.  In
          the event Executive's employment terminates for any reason on or before August 1, 2006, Executive's right to
          receive payment of any Deferred Sum (the actual deferred amount through Executive's last day of employment) in
          the event the Goal is achieved shall survive such termination of employment.
| | -- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | 6. | Other.  This Agreement is governed by the laws of the State of California, to the extent not preempted by
          ERISA, and constitutes the entire agreement on this subject matter.  This Agreement can only be amended by
          mutual written agreement of the parties except that the Company may unilaterally amend this Agreement as
          necessary to avoid current taxation of the Deferred Sum under section 409A of the Internal Revenue Code.  In the
          event that any provision of this Agreement, or any portion thereof, is held to be unenforceable or invalid by
          any court of competent jurisdiction, the validity and enforceability of the remaining provisions or portions
          thereof shall not be affected.  Executive may not assign this Agreement without the prior written consent of
          Iomega.  This Agreement may be executed in counterparts, each of which shall be deemed to be an original and
          both together shall be deemed to be one and the same agreement.  A facsimile of an original signature
          transmitted to the other Party is effective as if the original was sent to the other Party.
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Effective Date:  June 15, 2005

Accepted and Agreed to:

`Executive                                            Iomega Corporation

/s/ Werner Heid                                      /s/ Thomas D. Kampfer
--------------------------                           -----------------------------------
By:                                                  By:
Name:      Werner Heid                               Name:      Thomas D. Kampfer
Title:     President & CEO                           Title:     EVP, General Counsel`

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