# Exhibit 10.29

# IOMEGA
CORPORATION
EXECUTIVE TRANSITION AGREEMENT (Agreement)

WHEREAS,
with the intention to align costs with expected revenues, Iomega Corporation
(Iomega) has adopted a restructuring plan to be implemented on or
around July 26, 2005;

WHEREAS,
in such effort to reduce costs, Iomega determined that it was its business
interest to evaluate and reorganize certain executive functions and
responsibilities;

WHEREAS,
the parties acknowledge that such restructuring and associated organizational
changes trigger the severance provisions of Executives pre-existing
written letter of employment with Iomega; and

WHEREAS,
Iomega and Executive desire to ensure a reasonable and adequate transition of
duties until such time that Executives employment with Iomega concludes.

NOW,
THEREFORE, the parties agree as follows:

|1. | Transition Date. The parties agree that Executive will remain employed by Iomega until August 30, 2005
(Transition Period).  This date may be extended based on mutual agreement between the Executive and
Iomega.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|2. | Duties. During the Transition Period, Executive will continue to report directly to Iomega's chief
executive officer (CEO).  Executive's duties will consist of the following activities:
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

- Coach Lee Williams, our newly hired VP of consumer product generation and
planning to build an integrated storage solution product engineering and
generation organization between our team in Toronto and the IPO organization in
Taiwan
- Work with Lee to ensure a smooth integration of the NAS engineering responsibilities
- Ensure the on-time delivery of the following new products during Q3'05:

| | G2 Network HDDDual & Quad Drives (direct attached and networked)ScreenPlay MultiMedia Drives and DMA
| | ----------------------------------------------------------------------------------------------------

- Work with CEO to recruit director of product marketing as defined in the
proposed Iomega organizational structure and manage the product marketing
organization in the interim
- Ensure smooth transition of IT organization to Tom Liguori
- Ensure  smooth  transition  of operations  organization  to Mike Nikzad and assist Mike's  ramp-up in the new
position
- Maintain development of digital home vision and delivered planned upon product solutions
- Be an active participant in driving strategic opportunities for Iomega beyond
the current default plan, such as sales of the company, joint ventures,
strategic investments

During the Transition Period, Executive will devote reasonable business efforts and
time to Iomega and so long as employed, shall remain subject to the Iomega Code
of Conduct.

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|3. | Compensation and Benefits. Executive s base salary, bonus target, benefits, perquisites and other terms
          and conditions of employment shall not be reduced from the level as of the Effective Date.   Executive
          shall continue to participate in the 2005 Incentive Bonus Plan (but only if Executive remains employed by
          Iomega for the entire 2005 calendar year as required by that Plan).
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4. | Severance Benefits. Upon expiration of the Transition Period, Executive shall be eligible for and will
          receive severance benefits defined in Executives letter agreement of employment dated January 7, 2003, a
          copy of which is attached as Exhibit A (1) (the Severance Benefits).
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|5. | Death or Disability. Upon the disability (as defined in Section 22(e)(3) of the Internal Revenue Code of
          1986, as amended) or death of Executive, employment shall immediately terminate; however, Executives heirs
          would be eligible for and would receive the Severance Benefits.
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|6. | Change of Control. Nothing herein will limit Executives right to receive enhanced benefits under
          Executive's pre-existing change of control agreement (formally entitled the Executive Retention
          Agreement), should a change of control (as defined in the Executive Retention Agreement) occur during
          Executives employment with Iomega.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|7. | 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.
|-- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|8. | 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.  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.  This Agreement shall be binding
          upon and inure to the benefit of a) the heirs, executors and legal representatives of Executive upon
          Executive's death and b) any successor 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.
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Effective Date:  July 26, 2005

Accepted and Agreed to:

`Executive                                            Iomega Corporation

/s/ Sean Burke                                       /s/ Werner T. Heid
-------------------------------                      -----------------------------
By:                                                  By:
Name:    Sean Burke                                  Name: Werner T. Heid
Title:   EVP Consumer Solutions                      Title: President and CEO`

(1)  Incorporated herein by reference to Exhibit 10.16 to the Company's Annual Report on Form 10-K for the year
ended December 31, 2003 (File No. 1-12333).

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