Document:

Executive Severance Agreement

 EXHIBIT 10.24 
  
 EXECUTIVE SEVERANCE AGREEMENT 
  

October 15, 2004 
  
 Dear James N. Contardi, 
  
 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 twelve (12) months (the “Severance Period”). During the Severance Period, you will also remain eligible to participate in any Entrust-provided benefit plans and programs 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 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” at any time during the first twelve (12) months of your employment. 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 15 day of October, 2004. 
  

	
	
	 /s/ James N. Contardi

	 James N. Contardi2005 Sales Compensation Plan

 EXHIBIT 10.25 
  
 2005 – JIM CONTARDI (“YOU” OR “YOUR”)
SALES COMPENSATION PLAN (THE “PLAN”) 
  
 1. PLAN OBJECTIVES 
  

	 	1.	Provide compensation that stimulates desired sales activities that will directly affect the growth and profitability of Entrust. 

  

	 	2.	Offer a competitive total compensation package that facilitates Your retention. 

  

	 	3.	Provide You with a strong financial incentive for sales quota achievement, including significant upside potential, clearly communicating a pay-for-performance orientation.

  

	 	4.	Provide You with a consistent and easy to understand approach that is simple to administer, and provides flexibility for future modifications. 

  
 2. PLAN SUMMARY 
  
 Subject to this Plan, You will receive the commission
payments that are described in Schedule A to this Plan. 
  
 3. GENERAL RULES
REGARDING COMMISSIONS 
  

	 	•	 	All references to currency in this Plan are in US dollars. 

  

	 	•	 	This Plan applies only to commissionable activity in 2005. To be eligible for commissions under this Plan, You need to sign and return this Plan on or before March 8, 2005. This
Plan replaces and supercedes all of Your prior commission plans with Entrust concerning 2005. 

  

	 	•	 	While commission payment in respect of a transaction is made on Recognized Product Revenue, commissions are not earned until payment is collected from the customer. If payment is
not timely made by a customer, then Entrust will be entitled to set off such commissions against future commissions or other payments due to You or demand repayment by You. 

  

	 	•	 	Commissions will normally be paid within 45 days following the end of quarter. 

  

	 	•	 	You need to report any potential error within 90 days of receipt of the relevant statement or payment, whichever is later, failing which the commissions will be deemed to be
properly paid and Entrust will not be required to make any adjustment. 

  

	 	•	 	Notwithstanding anything to the contrary in this Plan, You must be Actively Employed by Entrust at the time the commission associated with such sale or license is recognized as
revenue to be entitled to payment on that revenue. You are not entitled to receive any commissions or Bonus for any revenue recognized by Entrust after You cease to be Actively Employed by Entrust. 

  

	 	•	 	You are “Actively Employed” if You have not given notice to Entrust of Your resignation or intent to resign, and You have not received from Entrust written notice of
termination of Your employment (regardless of the sufficiency of any such Notice of Termination). “Notice of Termination” means the amount of notice of termination, severance, or pay in lieu of notice, if any, provided to You. You cease to
be Actively Employed by Entrust as of the date (i) that Entrust receives notice of resignation or intent to resign, or (ii) that Entrust provides written notice to You of Your termination (regardless of the sufficiency of any such Notice of
Termination). 

  

	 	•	 	 If at the time that You cease to be Actively Employed by Entrust, commissions have been paid to You and the corresponding revenue has not been recognized and
collected by Entrust, then such commissions and/or sales bonuses shall be deemed to have been overpaid (“Commission Overpayments”). Any payments that may be due to You, including, but not limited to, commissions, recoverable draws,
salaries, bonuses, termination payments, severance payments, payments in lieu of notice, and/or expense reimbursements, may be withheld and set off against Commission Overpayments. Any Commission Overpayments remaining after any such set offs shall
be due and payable by You to Entrust as of the date that You ceased to be Actively Employed by Entrust. However, Entrust may withhold any commissions and/or bonus that may be due upon You ceasing to be Actively Employed by Entrust for up to one
hundred and twenty (120) days after such cessation date to allow Entrust to make any necessary adjustments to Your commissions due to changes in any previously recognized sale or license that may occur after You ceased to be Actively Employed by
Entrust. Entrust may further withhold commissions until You has submitted to Entrust a summary of all business expenses for which You are seeking 

 
reimbursement, and proof that all outstanding charges on any corporate credit cards have been paid. Entrust may also deduct from any commissions that may be
owing to You any charges for expenses that have been charged against corporate credit cards and that have not been paid by You. 
  

	 	•	 	The Compensation Committee (CC) shall be responsible for the implementation and ongoing administration of this Plan. Any questions arising from the administration or interpretation
of this Plan are subject to the sole and final determination of the CC. In particular, the CC will interpret what constitutes revenue recognition, what constitutes standard sales practices, and what constitutes Recognized Product Revenue. You
expressly acknowledge that the CC may refuse to include in commission calculations for any revenue recognized for the sale that does not conform to Entrust standard sales practice. For example, the CC may not pay commissions on transactions with
non-standard pricing or unusual terms and conditions which have not been approved by the CEO of Entrust. Additionally, You expressly acknowledge that if for any reason the gross product margins fall below the Margin set out in Schedule B in any
calendar quarter, the Recognized Product Revenue will be reduced based upon the third party expense increase in the discretion of the CC. In order to help You with interpretation of this Plan, the CC may from time to time issue short interpretation
bulletins. 

  

	 	•	 	In the discretion of the CC, the Targets and Thresholds set out in Schedule A are subject to increase based upon merger and acquisition events that occur during 2005, to the extent
that such merger and acquisition events increase the Recognized Product Revenue. 

  

	 	•	 	The CC may amend or discontinue this Plan at any time with respect to future incentives or awards through notice to You; however, any incentives or awards earned up to the
date of modification or termination will be distributed in accordance with the Plan provisions at the time they were earned. To be binding on Entrust, an amendment must be in a document signed by the CEO of Entrust. 

  

	 	•	 	Nothing in the Plan shall be interpreted as giving You the right to be retained as an employee of the Company, or of limiting the Company’s rights to control or terminate Your
employment at any time in the course of its business. 

  

	 	•	 	The terms of this Plan will be governed by the laws of the State of Texas. If any provision of this Plan is held by a court of competent jurisdiction to be illegal, invalid or
unenforceable, the remaining provisions shall remain in full force and effect. 

  
 The undersigned has read and agrees to be bound by this Plan. The undersigned agrees that this Plan will be part of his employment relationship with Entrust. The undersigned acknowledges that sales plans are common
practice in the software industry and it is common practice to modify sales plans from time to time. Finally, the undersigned acknowledges that he or she has had an opportunity to review this plan with a lawyer. 
  

			
	 /s/ Jim Contardi

	 	 /s/ F William Conner

	 Jim Contardi
	 	 F William Conner
 Chairman and Chief Executive Officer, Entrust, Inc.

		
	 7 MAR 05

	 	

	 Date
	 	 Date

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