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EXHIBIT 10.10  

 
 

PROMISSORY NOTE    
  

$40,000.00 July 27, 2001  

        FOR VALUE RECEIVED, David L. Hattey (the "Borrower") promises to pay to the order of Transcrypt International, Inc., a Delaware corporation ("the
"Lender"), the principal sum of Forty Thousand Dollars ($40,000.00), with no interest (except as otherwise provided herein). Said principal amount shall be due and payable on or before July 27,
2004. Payments due hereunder shall be personally delivered by the Borrower to Lender at 4800 N.W. 1st Street, Lincoln, Nebraska 68521, or to such other address as Lender may designate in writing. 

        Payments
on the outstanding principal balance owed hereunder shall be paid by Borrower to Lender on or before the last day of March in calendar years 2002, 2003 and 2004. The amount of
each payment shall be equal to fifty percent (50%) of the amount of any bonus paid to Borrower by Lender not to exceed one third of the original principal in any give bonus, net of any applicable
standard taxes and/or deductions, in each such calendar year. Borrower hereby expressly authorizes the Lender to withhold and retain said amounts from any bonus to be paid to Borrower by Lender in
calendar years 2002, 2003 and 2004 for the purpose of applying said amounts toward payment and satisfaction of the obligations owed to Lender by Borrower hereunder. The entire remaining unpaid
principal balance owed hereunder shall be due and payable in a single lump sum on or before July 27, 2004. 

        Borrower
shall have the right to prepay the principal amount due hereunder at any time, in whole or in part, without penalty or premium;  provided, however, any
partial prepayment shall not postpone the due date of any subsequent payment
contemplated hereunder. 

        Upon
the occurrence of any Event of Default (as hereinafter defined), the principal amount then due shall, from the date of such Event of Default, bear interest at an annual rate equal
to the then-current
one-year Treasury Bill interest rate as of the date of Default, as published in The Wall Street Journal, until paid in full. 

        Borrower
acknowledges and agrees that an event of default shall be deemed to have occurred hereunder upon the occurrence of any one or more of the following events (an "Event of
Default"): 

	(a)
	The
failure of Borrower to pay Lender any portion of the principal balance owed hereunder when due;

	(b)
	The
failure or refusal of the Borrower to punctually and properly perform, observe and comply with any covenant, agreement or condition contained herein;

	(c)
	The
termination of Borrower's employment with Lender because of death, resignation, removal or any other cause or reason whatsoever; or

	(d)
	Borrower
shall (i) be adjudicated a bankrupt or insolvent, or admit in writing his inability to pay his debts as they mature, (ii) make an assignment for the benefit of
creditors, (iii) apply for or consent to the appointment of any receiver, trustee or similar officer for all or a substantial part of his property, or such receiver, trustee or similar officer
shall be appointed without the application or consent of Borrower and such appointment shall continue undischarged for a period of twenty-four (24) hours, or (iv) institute
(by petition, application, answer, consent or otherwise) any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution, liquidation or similar proceeding under the laws of
any jurisdiction or any such proceeding shall be instituted (by petition, application or otherwise) against Borrower and shall remain undismissed for a period of twenty-four
(24) hours. 

        Upon
the occurrence of an Event of Default, the Lender may, at its option, declare the entire principal balance owing hereunder immediately due and payable, without further notice,
demand or presentment, all of which are hereby waived by the Borrower. Failure to exercise this option shall not 

constitute a waiver by the Lender of the right to exercise the same upon the occurrence of any subsequent Event of Default. 

        In
the event default is made in the prompt payment of any amount when due or declared due pursuant to this Promissory Note, and this Promissory Note is placed in the hands of an attorney
for collection or to defend or enforce any of the legal holder's rights hereunder, or if the same is collected through any judicial proceeding whatsoever, then Borrower, together with all other
parties liable for payment hereof, agrees to pay to the legal holder all professional fees, together with all court costs and expenses
incurred by such holder in connection with such proceeding, except to the extent such obligations are prohibited by law. 

        Borrower
hereby covenants and agrees to hold harmless and indemnify Lender, upon demand by Lender, from and against any and all costs, expenses, charges, taxes, penalties or other
liability of any nature imposed on or incurred by Lender relating to, resulting from or arising in connection with the loan to Borrower evidenced hereby, including, without limitation, any and all
costs, expenses and charges of any nature relating to the imputation of interest on amounts loaned to Borrower hereunder. 

        Borrower
hereby waives presentment and demand for payment, protest, notice of protest and nonpayment or dishonor, notice of acceleration and notice of intent to accelerate, diligence in
collecting and grace, and consents to all extensions, without notice for any period or periods of time and partial payments, before or after maturity hereof, without prejudice to the rights of the
Lender arising hereunder. 

        THIS
NOTE, AND ALL OTHER DOCUMENTS EXECUTED IN CONNECTION HEREWITH, REPRESENT THE FINAL AND ENTIRE AGREEMENT BETWEEN THE PARTIES PERTAINING TO THE SUBJECT MATTER HEREOF, AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, SUBSEQUENT OR CONTEMPORANEOUS ORAL AGREEMENTS. THERE ARE NO ORAL AGREEMENTS BETWEEN THE PARTIES PERTAINING TO THE SUBJECT MATTER HEREOF. 

        This
Note shall be governed by and construed in accordance with the laws of the State of Nebraska. 

        This
Promissory Note and all provisions herein are binding upon Borrower and his heirs, personal representatives, executors and assigns, and shall inure to the benefit of Lender and its
successors and assigns. Borrower shall not assign any right or delegate any obligation arising hereunder without the prior written consent of Lender. Lender does not by any act, delay, omission or
otherwise waive any of its rights or remedies, and no waiver of any kind pertaining to the obligations arising hereunder shall be valid or enforceable against Lender unless such waiver is in writing
and signed by an authorized representative of Lender. 

        IN
WITNESS WHEREOF, the Borrower has executed and delivered this Promissory Note on the date herein above first set forth. 

	BORROWER:	 	 	 	 
	

/s/  DAVID L. HATTEY      
 David L. Hattey	
 	

 	
 	

 
	

STATE OF MINNESOTA	
 	

)	
 	

 
	 	 	) ss.	 	 
	COUNTY OF WASECA	 	)	 	 

        The
foregoing instrument was acknowledged before me this            day
of                        , 2001, by David L. Hattey. 

	 	 	
 Notary Public	 	 

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EXHIBIT 10.11    
  

         

  

August 13,
2001 

Massoud
Safavi

8712 Old Dominion Drive

McLeon, VA 22102 

Dear
Massoud: 

        This
letter is intended to serve as formal notification that your Employment Agreement dated September 10, 1999 will not be renewed, per your discussion on August 9, 2001,
with Michael Jalbert, Chairman/CEO. Please consider this letter formal written notice of the Company's intent not to renew, as provided in Section 1 of your Employment Agreement. 

        Effective
October 16, 2001, you will become the Senior Vice President/Chief Financial Officer for Transcrypt, continuing your status as an officer of Transcrypt, as an employee at
will. Following is an outline of the Company's offer to continue your employment after your Employment Agreement expires on October 15, 2001, 

	•
	You
will continue in the position of Senior Vice President/CFO (and officer) in an at-will basis without a written employment agreement.

	•
	In
that capacity, you will be covered by all benefits applicable to your position under then existing company policies. One exception is additional severance
pay. In addition to the severance benefits
available to you under the Transcrypt severance Benefit Plan, should you be eligible for benefits under the Plan as determined by the Plan Administrator, the company will pay to you an additional
amount of severance pay so that the total amount of severance pay payable to you equals 52 weeks of your Current Base Salary, notwithstanding the maximum benefits specified in the Plan. Any such
additional payment will be made outside of the administration of the Plan, and this agreement does not constitute an amendment to or modification of the Plan. The schedule for these payments will be
made in accordance with the severance benefit plan.

	•
	You
will continue to report to the Chairman/Chief Executive Officer.

	•
	Your
annual salary will remain at $200,000.

	•
	Your
monthly car allowance of $550 (grossed up) will continue. 

        Massoud,
we look forward to your continued contributions in this new role. 

	Sincerely,
	

 
	/s/  NANCY MORRISON      
 Nancy Morrison
 Vice President, Human
Resources

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EXHIBIT 10.14    
  

         

  

 
 

Transcrypt Executive Health Program    
  

Introduction  

        The purpose of the Transcrypt Executive Health Program (the "Program") is to make available at no cost to certain executives examinations and treatments at the
Mayo Clinic in Rochester, Minnesota, which would not otherwise be available under the group health plan sponsored by Transcrypt International, Inc. and its subsidiary E. F. Johnson Company
(collectively the "Company"). It is the intention of the Company that this Program qualify as an accident and health plan within the meaning of §105 of the Internal Revenue Code of 1986,
as amended ("the Code"). 

Permanent Program or Arrangement  

        The Company intends that this program be a permanent program or arrangement for the exclusive benefit of certain of its executive employees. Nothing herein,
however, shall prevent the Company from amending or terminating this Program, provided such amendment or termination is permissible under applicable law and such amendment or termination shall not
affect a claimant's rights to benefits hereunder with respect to reimbursable expenses that have been incurred prior to the date Company action is taken to terminate the Program or the effective date
of such termination, whichever occurs last. 

        The
exclusive purpose of this Program is to provide the medical benefits described herein for covered employees. No benefits payable under this Program shall be applied for any other
purpose. 

Effective Date  

        The original effective date of this Program was October 15, 2001. The first Program Year shall be a short Program Year because the records for the Program
shall be kept on a calendar year basis, ending each December 31st. 

Eligibility  

        Only employees of the Company who are classified as Executives for the purpose of the Transcrypt Severance Plan and who are selected for participation in the
Program by written resolution or other written action of the Board of Directors of the Company are eligible to participate in this Program. 

Participation  

        Each employee who is an Executive of the Company and who is eligible under the "Eligibility" Section of the Program shall be a participant in the Program (a
"Participant") as of the first of the month following his or her satisfaction of the eligibility requirements. Upon termination of a Participant's employment with the Company, all rights of such
Participant to receive benefits for claims incurred after the termination date shall be forfeited. Such participant shall, however, retain the right to be reimbursed hereunder for claims incurred
prior to the termination of employment. For this purpose, a claim will be considered to be incurred when the services relating to such claim have been rendered. 

 

Benefits  

        The Company shall either pay directly to a medical provider, physician, clinic or hospital or shall reimburse the Participant such amounts as he or she has
expended while a Participant for medical care for himself or herself, subject to the limits described in this Section and the Sections below entitled "Limitation on Benefits Provided" and "Benefits
from Another Source." 

        For
purposes of this Program, only "amounts expended for medical care" are eligible benefits. "Amounts expended for medical care" means amounts paid for medical bills attributable to
physicals or other examinations performed at the Mayo Clinic pursuant to this Program, provided that the expenditure is in connection with an expense which would give rise to a deduction under
§ 213 of the Code. 

        In
the event a Participant dies having incurred an eligible expense which would have been reimbursable to the Participant had the Participant not died and a person or the Participant's
estate has paid for or assumed liability for the expense, reimbursement may be made to that person or the estate for that payment or assumption. 

        The
Participant shall also be entitled to an additional benefit to compensate the Participant for federal and state income tax, plus FICA and Medicare tax liabilities attributable to the
benefits provided by the Company pursuant to this Program. This "gross up" benefit shall be paid to the Participant as calculated by the Program Administrator, in its discretion. 

Limitation on Benefits Provided  

        No Participant shall be entitled to receive benefits or reimbursement for more than one annual physical at the Mayo Clinic in any Program Year. Benefits shall
only be payable on behalf of the Participant provided that the Participant provide the Program Administrator with his or her current written authorization to obtain protected health information (as
defined in the Health Insurance Portability and Accountability Act of 1996 ("HIPAA")) and any other documentation that the Program Administrator may request from the Participant to ensure that the
benefits to be provided under the Program are covered benefits and the extent to which these expenses are covered by another source, as described in the Section titled "Benefits From Another Source." 

Benefits From Another Source  

        Reimbursement under this Program shall be made only in the event and to the extent that payment or reimbursement for amounts expended for medical care is not
provided for under any insurance policy or under any other plan of the Company or another employer or under any federal or state law. If there is such a policy, plan, or law in effect providing for
such payment or reimbursement in whole or in part, then the Company shall be relieved of any and all liability hereunder to the extent of the coverage under such policy, plan, or law. 

Claims and Claims Review Procedures  

        Claims for benefits under this Program shall be made on forms maintained by the Company. To obtain reimbursement for medical expenses hereunder, a Participant
must submit within 60 days after the end of each Program Year a request for reimbursement for medical expenses incurred by him or her during the preceding Program Year, together with such
evidence of payment of such expenses as shall be required by the Company in accordance with rules uniformly applied. 

        If
any claim for benefits under this Program is denied in whole or in part, the Program Administrator shall furnish the claimant promptly with a written notice: 

	•
	setting
forth the reason for the denial; 

2

 

	•
	citing
the Program provisions upon which such denial is based;

	•
	describing
any additional material or information from the claimant which is necessary in order for the claimant to perfect his or her claim and why; and

	•
	explaining
the claim review procedure set forth herein. 

        Failure
by the Company to respond to a claim within a reasonable time shall be deemed a denial. However, the Program Administrator will notify a claimant if the claim is incomplete and
of the information necessary to complete the claim within 45 days of receipt of a claim. Such notice will provide claimant a period of 180 days within which to supplement the claim, and
the Program Administrator will resolve the claim within 45 days of the earlier of the date on which the claimant supplied the information or the end of the 180-day period. Within
60 days after denial of any claim for benefits under this Program, the claimant may request in writing a review of the denial by the Program Administrator. 

        Any
claimant seeking review hereunder is entitled to examine all pertinent documents, and to submit issues and comments in writing within 30 days after the filing of the request
for review. The Program Administrator shall render a decision on review of a claim not later than 60 days after receipt of a request for review hereunder. The decision of the Program
Administrator on review shall be in writing and shall state the reason for the decision, referring to the Program provisions upon which it is based. 

Compliance with Federal Law  

        Continued coverage shall be provided as required under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"), as amended. The Program Administrator
shall, within the parameters of the law, establish uniform policies by which to provide such continuation coverage. There shall also be compliance with state laws concerning continuation of health
insurance coverage to the extent not preempted by federal law. 

        At
the time an individual's coverage under the Program terminates, the Company shall furnish a certificate of creditable coverage under the Program in accordance with the Health
Insurance Portability and Accountability Act of 1996 ("HIPAA"), as defined in § 9801 of the Code. Such a certificate shall include all creditable coverage after September 30,
1996, and shall include creditable coverage after June 30, 1996 and before October l, 1996 if the individual so requests in writing. In addition, the Company shall furnish a certificate
of creditable coverage upon request of an individual made not more than 24 months after cessation of coverage under the Program, and shall furnish to another group health plan upon request
information on coverage of classes and categories of health benefits under the Program. 

        Notwithstanding
any provision of this Program to the contrary, this Program shall be operated and maintained in a manner consistent with the Family and Medical Leave Act of 1993 ("FMLA")
and any regulations relating thereto. 

        Notwithstanding
any provision of this Program to the contrary, this Program shall be operated and maintained in a manner consistent with the Uniformed Services Employment and
Reemployment Rights Act of 1994 ("USERRA") and any regulations relating thereto. 

Administration  

        The Program Administrator or the Company shall have authority and responsibility to control and manage the operation and administration of this Program. The
Program Administrator shall have discretion to interpret the terms of the Program, the Summary Plan Description and any other writing affecting the establishment or operation of the Program, and such
interpretation shall be binding on all 

3

 

parties, subject to the Claims and Claims Review Procedures described herein. The Program Administrator shall have the exclusive authority to make factual findings and decide conclusively all
questions regarding any claim for benefits under the Program. Benefits under this Program will be paid only if the Program Administrator decides in his discretion that the Participant is entitled to
them. 

Miscellaneous  

        All terms expressed herein shall be deemed to include the feminine and neuter genders and all references to the plural shall be deemed to include the singular and
vice versa, all as proper construction shall dictate. 

        To
the extent not pre-empted by the Employee Retirement Income Security Act of 1974 (ERISA), as amended, or other federal law, questions concerning the proper interpretation
of the terms of this agreement shall be determined in accordance with the law of the State of Minnesota. 

        The
Program Administrator shall keep a copy of the Program and any other disclosure documents relating thereto (including, but not limited to, summary plan descriptions) that are in the
public domain on file at his office where Participants may inspect them during the Company's regular business hours. Upon request, the Company shall provide a Participant or covered dependent with
copies of such documents. When the Administrator provides such documents, the Administrator may charge the requesting party a reasonable charge for photocopying these materials. 

        This
document contains all of the operative provisions of this Program. Any conflict between the provisions of this document and any other Company document purporting to explain the
rights, benefits, or obligations of the parties hereunder shall be resolved in favor of this Program document. In the event that a tribunal of competent jurisdiction shall determine in a final
judgment or decree that one or more of the provisions of this Program is invalid due to the provisions of applicable law, this Program shall be interpreted as if the offending language had been
stricken from its provisions and the remainder of the Program document shall continue in full force and effect. 

        The
Company intends Program terms, including those relating to coverage and benefits, to be legally enforceable. The Program shall be maintained for the exclusive benefit of employees. 

        The
Program is not an employment agreement and does not assure the continued employment of any employee or Participant for any period of time. Nothing contained in the Program shall
interfere with the Employer's right to discharge an employee or Participant at any time, regardless of the effect such discharge will have upon that individual as a Participant in this Program. 

        The
Company makes no commitment or guarantee that any amounts paid to a Participant under the Program will be excludable from the Participant's gross income for federal or state income
tax purposes. It shall be the obligation of each Participant to determine whether each payment is excludable from the Participant's gross income for income tax purposes, and to notify the Company if
the Participant has reason to believe that any such payment is not so excludable. 

        No
Participant may assign, pledge, or otherwise dispose of any benefit under the Program prior to actual receipt thereof. 

4

 

Program Administration  

        Administrative Information about the Transcrypt Executive Health Program is listed here: 

	•	 	Program name is as follows:	 	The Transcrypt Executive Health Program
	

•	
 	

The Program Sponsor is:	
 	

Transcrypt International, Inc.

Employer Identification No: 47-0801192
	

•	
 	

Other Participating Employer:	
 	

E. F. Johnson Company

Employer Identification No.: 47-0801192
	

•	
 	

The Program Administrator is:	
 	

Transcrypt International, Inc.

Vice President of Human Resources

c/o E.F. Johnson Co.

299 Johnson Avenue

Waseca, MN 56093

(507) 835-6415
	

•	
 	

The Agent for the legal Process is:	
 	

The Program Administrator.
	

•	
 	

Program Year:	
 	

January 1 through December 31

        This
Program shall be construed in accordance with the laws of Minnesota to the extent not preempted by Federal Law. This Program was first
issued                        . 

5

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EXHIBIT 10.14

Transcrypt Executive Health Program

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