No, the kernel reports TIME_ERROR: 0x41: Clock Unsynchronized line is normal in ntpd startup. The real problem is the following:
notice ntpd exiting on signal 15 (Terminated)
which means something (maybe the init script or systemd etc.) killed ntpd by signaling it. You may debug by start ntpd manually with something like:
/usr/sbin/ntpd -g -p /var/run/ntpd.pid
Hope this helps.