exv10w30






Exhibit 10.30




Entrustment Agreement



MagnaChip Semiconductor Ltd. (“A”) and Tae Young Hwang, an individual (“B”), shall execute
this Entrustment Agreement (the “Agreement”) subject to the following terms:



Article 1 (Delegation by A)



A shall appoint B to a position pursuant to Article 4 hereof, delegating authority to handle
business matters necessary to ensure A’s successful achievement of its business objectives for
current projects and future business plans by effectively utilizing B’s academic and technological
knowledge and capabilities, and B hereby agrees to the terms and conditions hereinafter set forth.



Article 2 (Term of Agreement)





	 	1)	 	This Agreement shall be in effect for one (1) year
from October 1, 2004 to September 30, 2005 (the
“Initial Term”).
	 
	 	2)	 	Prior to the expiration of the Initial Term, A and B
may renew this Agreement or enter into a new agreement
based on mutual consensus.




Article 3 (Duties of B)





	 	1)	 	B shall devote his academic and technological
knowledge and capabilities to serve the best interests
of A.
	 
	 	2)	 	During the term of this Agreement, B shall faithfully
perform his duties in accordance with national laws
and regulations, A’s articles of association and its
internal rules and regulations, and the decisions made
by A’s Board of Directors.
	 
	 	3)	 	B shall only work to advance the interests of A during
the term of this Agreement and shall not execute any
transactions related to A’s business based on his or
any third party’s calculations without the prior
written approval of A. B shall not be hired as an
employee or a director of other companies that are
competitors of A.




Article 4 (General Benefits)





	 	1)	 	Position: A shall hereby employ B as Executive Vice
President of A. In the event of a change in A’s
management hierarchy, B shall follow the applicable
guidelines.
	 
	 	2)	 	Salary






	 	1.	 	A shall pay B a base salary at the rate of KRW 220
million per annum (the “Salary”), payable to B in
accordance with the standard payroll practices of A.
In the event of a change in A’s payroll system, B
shall follow the applicable guidelines.





 









 






	 	2.	 	B shall be eligible to earn a bonus and incentives
based on his management performance and the results of
his project.






	 	3)	 	Severance Pay: B’s severance pay for the service
period following the expiration of this Agreement
shall follow A’s applicable rules and regulations.




Article 5 (Other Welfare Benefits)





	 	1)	 	B shall participate in the public insurance system as
required by law, including health insurance, national
pension and employment insurance, etc., and A shall
support such benefits in accordance with the law.
	 
	 	2)	 	Vacation
	 
	 	 	 	B shall be entitled to annual vacation in accordance with the terms of A’s
executive annual vacation system.




Article 6 (Termination of Agreement)





	 	1)	 	Prior to the expiration of this Agreement, A shall
terminate this Agreement with a written notice if B
falls into any of the following categories (as
hereinafter listed).






	 	1.	 	Indicted for a crime and sentenced to probation or higher degree of penalty.
	 
	 	2.	 	Declared as mentally total incompetent, mentally partial incompetent or bankrupt.
	 
	 	3.	 	Misrepresented his identity, qualifications, or work
experiences, or committed fraud in entering into this
Agreement.
	 
	 	4.	 	B cannot work in his capacity for one (1) month or longer due to his own faults.
	 
	 	5.	 	A determines that due to physical or mental illness or
incapacity, B is unable to perform his duties.
	 
	 	6.	 	A determines that due to cancellation or reduction of
business plans, the purpose of hiring B is lost.
	 
	 	7.	 	Material violation of the provisions specified in this Agreement.






	 	2)	 	Termination of this Agreement in accordance with the
causes listed in the previous clause (except
sub-clauses 1 and 4) shall be communicated by delivery
to B of a 30 days’ advance written notice from A.
Termination pursuant to sub-clauses 1 and 4 in the
previous clause shall occur immediately concurrent
with the occurrence of the cause.




Article 7 (Service Inventions, Etc.)





	 	1)	 	During the effect of this Agreement, B shall
immediately notify A in the event that B has invented,
found or created any items in connection with his
employment with A or using A’s time and resources, and
B hereby agrees to transfer all intellectual property
rights, including patents, utility models, software,
and copyrights, thereby acknowledging the automatic
possession of all intellectual property rights by A.
At the




 









 












	 	 	 	request of A, B hereby agrees to produce and submit documents (i.e., application forms)
required for intellectual property rights registration including, but not limited to,
patents, through a dedicated agent at home or abroad. In such cases, the costs required
for intellectual property rights registrations shall be paid by A, but B is not entitled
to receive any additional
compensation other than the compensation stipulated in A’s standard compensation
guidelines governing such inventions.
	 
	 	2)	 	Pursuant to the previous clause, during the effective
period of this Agreement, B shall immediately notify A
on the details of his inventions, findings or
creations except those related to the intellectual
property rights automatically possessed by A (i.e.,
inventions other than the service inventions). A shall
possess a preferential right to negotiate with B
(i.e., first negotiation rights) on the acquisition by
transfer or usage rights of such inventions other than
service inventions. B hereby agrees that he will not
transfer or grant usage rights to third parties in
more favorable terms than the terms offered by A
regarding such inventions other than service
inventions, unless A surrenders the aforementioned
first negotiation rights in writing. However, A’s
first negotiation rights shall expire in the event
that A fails to request a priority negotiation in
writing to B within three (3) months from the date
when A receives such notice from B.
	 
	 	3)	 	As to the inventions, findings or creations, for which
B desires to be exempt from the aforementioned clauses
1 and 2 due to violation against an existing agreement
signed with a third party, and the not-yet-filed
inventions, which B wants to exclude from the
aforementioned clauses 1 and 2, B shall list such
inventions, findings or creations in the attached
sheet together with the description thereon, and
represent that the descriptions are true without
omission. If B does not fill in the attached sheet, it
shall be assumed that there are neither other
agreements with third parties nor any items B wants to
be excluded from the aforementioned clauses 1 and 2.




Article 8 (Confidentiality and Non-Competition)





	 	1)	 	During the effect of this Agreement and after the
termination of this Agreement, B shall maintain
confidentiality of all confidential or proprietary
information including, but not limited to, business
management data, technical data, drawings, and
documentation of A, its affiliates, and customers that
B will gain knowledge of or acquire in the course of
business. B shall not disclose such confidential or
proprietary information or use them for the benefit of
B or other third parties. Until the first anniversary
of the date of termination of this Agreement, B shall
not, directly and indirectly in the name of a third
party, own any interest in, operate or perform any
services for any business which is in competition with
any business of A. However, this restriction shall not
apply in the event that B negotiates with A in advance
and receives approval from A.




 









 










Article 9 (Supplementary Clause)





	 	1)	 	Provisions not specified in this Agreement shall
follow the rules and regulations articulated by A, and
the laws and regulations of the Republic of Korea.
	 
	 	2)	 	B hereby understands and agrees that this Agreement is
not a labor contract pursuant to the Labor Standard
Act, and therefore the rights and benefits applied to
A’s employees based on the labor laws of the Republic
of Korea, A’s employment policies, and collective
bargaining agreements, etc., that are not stipulated
in this Agreement, shall not apply to B.
	 
	 	3)	 	In the event of legal disputes arising out of or
related to this Agreement, the governing court shall
be the court located in the territory of the
headquarter of A.




To prove this agreement, two copies of the agreement shall be produced, signed by each party
concerned, and each party shall keep one copy.




___,___, 200_




“A” MagnaChip Semiconductor Ltd.




     CEO                                         (sign)
/s/ Sang Park




“B” Address:




     Citizen registration No.:




     Name:                                      (sign)
/s/ Tae Young Hwang