Document:

Employee Agreement

 EXHIBIT 10.1 
 April 6, 2007 
 Steve Holton 
 3310
Fairmount Street 
 Dallas, TX 75201 
 Dear David, 
 We are pleased to confirm in writing the terms of your employment in the position of Vice President & General Manager, Hosted PKI and SSL, with Entrust, Inc.
(the “Company”), reporting to Bill Conner. Your salary on an annualized basis will be $210,000.00 US, which will be paid biweekly. Your salary and performance will be subject to review on an annual basis. The responsibilities of
this position have been reviewed with you. 
 You will be granted an award of an incentive stock option to purchase 100,000 shares of common stock of the
Company, subject to approval by the Board of Directors. The strike price for the award will be equal to the fair market value of the common stock at close of business on the date specified by the Board of Directors. 
 The vesting conditions that will be outlined in your Entrust Stock Option Agreement (that will be provided to you in due course) will include the following: 

 

	 	•	 	 25% of the original number of shares will become exercisable on the first anniversary of the Commencement Date; and 

  

	 	•	 	 an additional 1/36th of the remaining number of shares will become exercisable on that day of the month for each of the following 36 months thereafter.

 You will be granted an award of 25,000 restricted stock units which will vest on meeting specified performance targets, subject to
approval by the Board of Directors. The vesting conditions that will be outlined in your Entrust Restricted Stock Agreement (that will be provided to you in due course) will include the following: 
  

	 	•	 	 50% vesting of the first day on which the closing price of the stock is at least 17.5% above the closing price on the day of grant for at least 30 out of 60
consecutive trading days, including the day of vesting, by February 9, 2008. If such milestone is not met, such portion of such award will be forfeited. 

  

	 	•	 	 the remaining 50% will vest the first day of which the closing price of the stock is at least at least 17.5% above the closing price on the day of grant for at
least 30 out of 60 consecutive trading days, including the day of vesting, by February 9, 2009. If such milestone is not met, such portion of such award will be forfeited. 

 We will recommend to the Board of Directors that you be made an officer of the Company. As an officer of the Company, the aforementioned grant will be subject to
acceleration upon certain acquisition events as set forth in your Entrust Stock Option Agreement. The grant will also be subject to the terms of the 2006 Stock Incentive plan that will also be provided to you in due course. 
 Your target annual sales incentive potential is $130,000.00 at 100% achievement of Entrust revenue targets with $20,000 in accelerators based on meeting individual
management objectives, which will be set forth in a sales incentive plan which Entrust will provide to you. This incentive program is in the discretion of Entrust and may be amended or discounted at any time. 

 Your vacation is set at 20 business days per annum, which will accrue on a per pay period basis. All vacation benefits
are subject to the Company’s Paid Time-Off Policy for North America, as amended from time to time by the Company, a copy of which is enclosed. 
 A
summary of the benefit plan is enclosed. These benefits may be modified, reduced, or discontinued by the Company at any time. 
 We believe that your
abilities and our needs are compatible and that your acceptance of this offer will prove mutually beneficial. However, it is understood and agreed that your employment is terminable at the will of either party and is not an employment agreement for
a year or any other specified term. This means that your terms and conditions of employment, including but not limited to termination, demotion, promotion, transfer, compensation, benefits, duties and location of work may be changed with or without
cause, for any or no reason, and with or without notice. Your status as an at-will employee cannot be changed by any statement, promise, policy, course of conduct, in writing or manual except through a written agreement signed by the CEO of the
Company. 
 You will be eligible to the severance benefits set forth in the enclosed Executive Severance Agreement. Notwithstanding the preceding sentence,
if you remain an employee through to the First Anniversary Date your potential Severance Leave will be increased from three (3) months to six (6) months (provided that all of the requirements of such preceding sentence are still met).

 You are also required to sign and return the enclosed Confidentiality, Non-Solicitation, Non-Competition, and Code Of Conduct Agreement, a copy of which
is enclosed with this letter. 
 Also, please assist the Company by completing the employment application (included in offer package) and providing
documentation to establish your identity and eligibility for employment as required under the Immigration Reform and Control Act of 1986, which is required of all employees. Please review the enclosed “List of Acceptable Documents”, and
provide the appropriate ones to Human Resources as soon as possible. 
 Please assist the Company by completing the pre-employment background investigation,
which is required of all employees. The authorization form should be completed and faxed, as soon as possible, to OccuScreen at 877-464-5656. Upon your request, we will identify any consumer reporting agency involved in this process so that you may,
if you wish, seek access to its records as provided under the relevant statute. 
 Finally, please also provide or confirm your social security number and
date of birth. This will facilitate your enrollment on our payroll and employee benefit programs. 
 The laws of the State of Texas shall govern the terms of
this letter. 
 To confirm these terms governing your employment with the Company, please sign and return the original of this letter along with the
following enclosed agreements: 
  

	 	•	 	 Confidentiality, Non-Solicitation, Non-Competition, and Code Of Conduct Agreement; and 

  

	 	•	 	 Executive Severance Agreement. 

 Otherwise, if you
have any questions or concerns, please contact Laura Owen at 972-713-5933 to discuss. 
  

	
	Sincerely,
	
	 /s/ Bill Conner

	Bill Conner
	Chairman of the Board and Chief Executive Officer of Entrust, Inc.

 I have read, understood, and therefore, accept this offer of employment, as set forth above. 
  

							
	Signature:	 	 /s/ Steve Holton
	 		 	Date: 4/9/07

 SS#:
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 Date of Birth:
                                        

 Telephone:
                                        
     
 Attachments: 
 Executive
Severance Agreement. 
 Confidentiality, Non-Solicitation, Non-Competition, and Code Of Conduct Agreement 
 Background Information Authorization 
 Benefit Plan Summary 
 I-9 Form (Employment Identification & Verification) 
 W-4 Form (U.S.
Federal Tax Withholding) 
 Direct Deposit 
 Application FormExecutive Severance Agreement

 EXHIBIT 10.2 
 EXECUTIVE SEVERANCE AGREEMENT 
 April 6, 2007 
 Dear Steve Holton, 
 Based on your position with Entrust, Inc. (“Entrust” or the “Company”), you, are
eligible for certain executive severance benefits approved by the Company’s Board of Directors at its April 30, 2004 meeting and described in this Executive Severance Agreement (“Agreement”). 
 The proposed severance arrangement would provide you with severance benefits in the event that you experience an Involuntary Termination (as defined below) of employment
with Entrust. 
 Subject to the terms described below, if you experience an Involuntary Termination of your employment with the Company, you will be entitled
to continuation of your then-current base salary for three (3) months (the “Severance Period”). Notwithstanding the preceding sentence, if you remain an employee through to the First Anniversary Date your potential Severance Leave
will be increased from three (3) months to six (6) months (provided that all of the requirements of such preceding sentence are still met). 
 During the Severance Period, you will also remain eligible to participate in any Entrust-provided health benefit plans and programs (medical, dental and vision care) in which you participated prior to separation under the terms of the
controlling plans, programs or policies. However, you will not be eligible for any other Entrust benefits and programs including but not limited to life insurance, long term disability or short term disability. 
 You will not be eligible for any bonuses or sales incentives during the Severance Period, unless the sales incentives were accrued and payable prior to the date of an
Involuntary Termination, nor will you be eligible for salary increases, new stock option grants, or continued accrual of vacation or sick leave during the Severance Period. Any currently held stock options will continue to vest during the Severance
Period. Salary and bonus payments during the Severance Period will be made less appropriate deductions and withholdings and will be paid in according with the Company’s normal payroll practices. Benefit continuation will be subject to the terms
and employee contributions rates generally applicable under the controlling plan, program, or policy. 
 For purposes of your right to severance benefits, an
Involuntary Termination shall mean termination of your employment by Entrust without “Cause” or by means of a “Constructive Dismissal”. For purposes of this Agreement, “Cause” shall mean: (i) willful misconduct or
gross negligence in carrying out your assigned duties; (ii) knowing violation of any reasonable rule, direction, or policy of the Company, its President, or its Board; (iii) any act of misappropriation, embezzlement, intentional fraud, or
similar conduct involving the Company; (iv) conviction or a plea of nolo contendere or the equivalent to a felony; (v) failure to comply with all material applicable laws and regulations in performing your duties and
responsibilities for the Company; and (vi) abuse of alcohol or of any controlled substance. For purposes of this Agreement, “Constructive Dismissal” shall mean: (i) a material reduction in your base salary, other than in
proportion to a general reduction of every officer’s base salary; or (ii) your relocation to a facility or location more than fifty (50) miles from your then-current location without your express written consent. 
 Except as expressly provided for herein, this Agreement does not change the terms, conditions, or status of your employment as they existed prior to the execution of
this Agreement. The terms, conditions, and status of your employment cannot be changed by any statement, promise, policy, or course of conduct other than a written agreement signed by the Chief Executive Officer of Entrust. 
 Eligibility for benefits under this Agreement is contingent upon: (i) timely signing and returning this Agreement; and (ii) in the event of an Involuntary
Termination, timely signing and returning a standard 

 
severance agreement and release provided at that time by the Company. Moreover, you agree that if at any time during the severance period Entrust reasonably
determines that you have violated the terms of the Executive Confidentiality, Non-Solicitation, Non-Competition, Intellectual Property Rights and Code of Conduct Agreement that you executed on or about the time that you started working for Entrust,
Entrust may halt any further payments of salary or bonus thereafter. 
 Nothing in this Agreement alters your rights, as an officer of Entrust, to
accelerated vesting of all outstanding options granted during the period of your appointment as an officer in the event of an “Acquisition Event” as further explained in the controlling stock option agreement or agreements. 
 If accepted by you, the terms of this Agreement will supercede the terms of any and all prior agreements you may have with Entrust with respect to retention or severance
rights. Accordingly, in the event of any conflict, the terms of this Agreement shall govern. Any questions you may have regarding this Agreement or the Program should be directed to the Chief Executive Officer or the Vice President of Human
Resources of Entrust. 
  

	
	Entrust, Inc.
	
	 /s/ James D. Kendry

	James D. Kendry
	Vice President, Chief Governance Officer

 I have read the foregoing Executive Severance Agreement, I understand its terms, and I accept and agree to those
terms this     9     day of          April                 ,
200  7  . 
  

	
	
	 /s/ Steve Holton

	Steve Holton

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