Document:

Tenth Amendment to Credit Agreement, dated as of June 17, 2008

 EXHIBIT 10.3.k 
 TENTH AMENDMENT TO CREDIT AGREEMENT 
 This TENTH AMENDMENT (as the same may be amended,
restated, supplemented, extended or otherwise modified from time to time, this “Amendment”) is entered into as of June 17, 2008, by and among MAGNACHIP SEMICONDUCTOR S.A., a société anonyme, organized and
existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 74, rue de Merl, B.P. 709, L-2017 Luxembourg, Grand Duchy of Luxembourg, registered with the Luxembourg Register of Commerce and Companies under the number B
97,483 (“Luxco”), MAGNACHIP SEMICONDUCTOR FINANCE COMPANY, a Delaware corporation (together with Luxco, “Borrowers”), MAGNACHIP SEMICONDUCTOR LLC, a Delaware limited liability company (“MagnaChip
LLC”), the Subsidiary Guarantors (the “Subsidiary Guarantors”) listed on the signature pages hereto (each of Borrowers, MagnaChip LLC and the Subsidiary Guarantors are sometimes referred to herein as a “Loan
Party” and, collectively, as the “Loan Parties”), the Lenders party hereto, UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, “Administrative Agent”) for the Lenders and as collateral
agent (in such capacity, “Collateral Agent”; and together with the Administrative Agent, the “Agents”, and each an “Agent”) for the Secured Parties and the Issuing Bank. 
 RECITALS 
 A. The Borrowers,
MagnaChip LLC, the Subsidiary Guarantors, the Lenders, UBS Securities LLC, as lead arranger, as documentation agent and as syndication agent, UBS Loan Finance LLC, as swingline lender, Korea Exchange Bank, as issuing bank and Agents are parties to
that certain Credit Agreement dated as of December 23, 2004 (as the same has been and hereafter may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”). Unless otherwise specified
herein, all capitalized terms used in this Amendment shall have the meanings ascribed to them in the Credit Agreement. 
 B. The Borrowers
have requested that the Agents and the Required Lenders agree to amend Section 1.01 of the Credit Agreement, all upon the terms and subject to the conditions as herein set forth. 
 NOW, THEREFORE, in consideration of the foregoing, the covenants and conditions contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. Amendments to Credit
Agreement. 
 (a) In the definition of “Sponsors” in Section 1.01 of the Credit Agreement, the term “CVC
Management LLC” is hereby deleted and replaced with the clause “Court Square Advisor, LLC (successor in interest to CVC Management LLC)”. 
 SECTION 2. Representations, Warranties and Covenants of Loan Parties. To induce the Agents and Lenders to execute and deliver this Amendment, each of the Loan Parties represents, warrants and covenants
that: 
 (a) The execution, delivery and performance by the Loan Parties of this Amendment and all documents and instruments delivered in
connection herewith and the Credit Agreement and all other Loan Documents have been duly authorized, and this Amendment and all documents and instruments delivered in connection herewith and the Credit Agreement and all other Loan Documents are
legal, valid and 

 
binding obligations of the Loan Parties enforceable against the Loan Parties in accordance with their respective terms, except as the enforcement thereof may
be subject to (i) the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforcement is
sought in a proceeding in equity or at law); 
 (b) After giving effect to this Amendment, each of the representations and warranties made by
or on behalf of such Loan Party to either Agent or any Lender in any of the Loan Documents was true and correct when made and in all material respects is true and correct on and as of the date of this Amendment with the same full force and effect as
if each of such representations and warranties had been made by such Loan Party on the date hereof and in this Amendment, and each of the agreements and covenants in the Credit Agreement and the other Loan Documents is hereby reaffirmed with the
same force and effect as if each were separately stated herein and made as of the date hereof; 
 (c) Neither the execution, delivery and
performance of this Amendment and all documents and instruments delivered in connection herewith nor the consummation of the transactions contemplated hereby or thereby (i) does or shall contravene, result in a breach of, or violate
(A) any provision of any Loan Party’s corporate charter, bylaws, operating agreement, purchase agreement, or other governing documents, (B) any law or regulation, or any order or decree of any court or government instrumentality, or
(C) any indenture, mortgage, deed of trust, lease, agreement or other instrument to which any Loan Party is a party or by which any Loan Party or any of its property is bound or (ii) requires any notice to, registration or filing with,
acceptance, consent or approval of, or any other action by, any Governmental Authority; 
 (d) Agents’ and Lenders’ security
interests in the Collateral continue to be valid, binding, and enforceable first-priority security interests which secure the Obligations (subject only to any Liens permitted under the Loan Documents), and no tax or judgment liens are currently of
record against any Loan Party or any Subsidiary thereof; and 
 (e) The recitals to this Amendment are true and correct. 
 SECTION 3. Reference to and Effect Upon the Credit Agreement. 
 (a) Except as specifically set forth herein, all terms, conditions, covenants, representations and warranties contained in the Credit Agreement or any
other Loan Documents, and all rights of Agents and Lenders and all of the Obligations, shall remain in full force and effect; provided that in the event of a conflict between the terms and provisions of the Credit Agreement or any other Loan
Documents (other than this Amendment), the terms and provisions of the Credit Agreement (as amended hereby, and as the same has been and hereafter may be amended, restated, supplemented or otherwise modified from time to time) shall control. Each
Loan Party hereby confirms that the Credit Agreement and the other Loan Documents are in full force and effect and that neither such Loan Party nor any of its Subsidiaries has any defenses, setoffs, claims, or counterclaims to the Obligations under
the Credit Agreement or any other Loan Documents. 
 (b) Except as expressly set forth herein, the execution, delivery and effectiveness of
this Amendment shall not directly or indirectly (i) constitute a consent or waiver of any past, present or future violations of any provisions of the Credit Agreement or any other Loan Documents, (ii) amend, modify or operate as a waiver
of any provision of the Credit Agreement or any other Loan Documents or any right, power or remedy of any Agent or any Lender thereunder, or (iii) constitute a course of dealing or other basis for altering any Obligations or any other contract
or instrument. Except as expressly set forth herein, each of the Agents and Lenders reserves all of its rights, powers, and remedies under the Credit 

  

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Agreement, the other Loan Documents, and/or applicable law. Except as expressly set forth herein, all of the provisions of the Credit Agreement and the other
Loan Documents, including, without limitation, the time of the essence provisions, are hereby reiterated, and if ever waived, reinstated. 
 (c) Upon the effectiveness of this Amendment, all references to the Credit Agreement in any Loan Document shall mean and be a reference to the Credit Agreement, as amended hereby, and the term “Loan Documents” shall include,
without limitation, this Amendment. 
 SECTION 4. Costs and Expenses. Each of the Borrowers and the other Loan Parties agrees
jointly and severally to reimburse Agents and Lenders for all reasonable fees, costs and expenses, including the reasonable fees, costs and expenses of counsel or other advisors for advice, assistance, or other representation in connection with this
Amendment and the other agreements and documents executed in connection herewith. 
 SECTION 5. Governing Law. THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AS OPPOSED TO CONFLICTS OF LAWS PROVISIONS) OF THE STATE OF NEW YORK. 
 SECTION 6. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purposes. 
 SECTION 7. Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed an
original, but all such counterparts shall constitute one and the same instrument, and all signatures need not appear on any one counterpart. Any party hereto may execute and deliver a counterpart of this Amendment by delivering by facsimile
transmission a signature page of this Amendment signed by such party, and any such facsimile signature shall be treated in all respects as having the same effect as an original signature. Any party delivering by facsimile transmission a counterpart
executed by it shall promptly thereafter also deliver a manually signed counterpart of this Amendment. 
 SECTION 8. Time of
Essence. Time is of the essence in the payment and performance of each of the obligations of any of the parties hereunder and with respect to all conditions to be satisfied by such party. 
 SECTION 9. Further Assurances. Each Loan Party agrees to take, and to cause its Subsidiaries to take, all further actions and to execute
and deliver, and to cause its Subsidiaries to execute and deliver, all further documents as the Agents, or either of them, may from time to time reasonably request to carry out the transactions contemplated by this Amendment. 
 SECTION 10. Effectiveness. This Amendment shall become effective at the time (the “Effective Date”) that all of the
following conditions precedent have been satisfied (or waived) as determined by the Required Lenders in their sole discretion (as evidenced by the Required Lenders’ execution and delivery of this Amendment): 
 (a) Agreement. Duly executed signature pages for this Amendment signed by the Required Lenders and Loan Parties shall have been delivered to the
Administrative Agent. 
 (b) Representations and Warranties. The representations and warranties contained herein shall be true and
correct in all material respects, and no Event of Default or Default shall exist on the Effective Date. 
  

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 (c) Expenses. All of the expenses owing the Agents under Section 10.03 of the Credit
Agreement shall have been paid in full. 
 *** Signature Pages Follow *** 
  

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 IN WITNESS WHEREOF, this Tenth Amendment has been executed by the parties hereto as of the date first
written above. 
  

			
	 MAGNACHIP SEMICONDUCTOR S.A.,
 a Luxembourg
company

		
	By:	 	/s/    Robert Krakauer
	Name:	 	
	Title:	 	
	
	MAGNACHIP SEMICONDUCTOR FINANCE COMPANY, a Delaware limited liability company
		
	By:	 	/s/    Robert Krakauer
	Name:	 	
	Title:	 	

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	 MAGNACHIP SEMICONDUCTOR LLC,
 a Delaware
limited liability company

		
	By:	 	/s/    Robert Krakauer
	Name:	 	
	Title:	 	

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	SUBSIDIARY GUARANTORS
	
	 MAGNACHIP SEMICONDUCTOR, INC.,
 a California
corporation

		
	By:	 	/s/    Robert Krakauer
	Name:	 	
	Title:	 	

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	MAGNACHIP SEMICONDUCTOR SA HOLDINGS LLC, a Delaware limited liability company
		
	By:	 	/s/    Robert Krakauer
	Name:	 	
	Title:	 	

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	MAGNACHIP SEMICONDUCTOR LIMITED, a company incorporated in England and Wales with registered number 05232381
		
	By:	 	/s/    Robert Krakauer
	Name:	 	
	Title:	 	

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	 MAGNACHIP SEMICONDUCTOR, INC.,
 a Japanese
company

		
	By:	 	/s/    Robert Krakauer
	Name:	 	
	Title:	 	

  

 Signature Page to Tenth Amendment to Credit Agreement 

									
	For execution as a deed:	  		 		  	
	EXECUTED AS A DEED by	  	)	 		  	
		  		  	)	 		  	
	as duly appointed attorney	  	)	 		  	
	pursuant to a power of attorney	  	)	 		  	
	dated	  	)	 		  	
	for and on behalf of	  	)	 		  	
	MAGNACHIP SEMICONDUCTOR	  	)	 		  	
	LIMITED	  	)	 		  	
	in the presence of:	  	)	 		  	
					
	Witness:	  	 	  		 	Witness:	  	 
					
	Name:	  		  		 	Name:	  	
					
	Address:	  		  		 	Address:	  	
				
	For execution otherwise than as a deed:	  		 		  	
				
	SIGNED by /s/ Robert Krakauer	  	)	 		  	
		  	)	 		  	
	as duly appointed attorney	  	)	 		  	
	pursuant to a power of attorney	  	)	 		  	
	dated	  	)	 		  	
	for and on behalf of	  	)	 		  	
	MAGNACHIP SEMICONDUCTOR	  	)	 		  	
	LIMITED	  	)	 		  	
	in the presence of:	  	)	 		  	
					
	Witness:	  	 /s/ John McFarland
	  		 		  	
					
	Name:	  	John McFarland	  		 		  	
					
	Address:	  	891 Daechi-dong, Gangnam-gu, Seoul, Korea	  		 		  	

 CERTIFICATION LANGUAGE 
 I, the undersigned, being a director of MagnaChip Semiconductor Limited, do hereby certify that this document is a true and complete copy of its original. 
 /s/ Robert Krakauer 
 [Name] 
 Date: 
  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	 MAGNACHIP SEMICONDUCTOR,
 LTD., a Taiwan
company

		
	By:	 	/s/    Robert Krakauer
	Name:	 	
	Title:	 	

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	MAGNACHIP SEMICONDUCTOR B.V.
		
	By:	 	/s/    Stefan Boermans
	Name:	 	S. Boermans
	Title:	 	

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	MAGNACHIP SEMICONDUCTOR HOLDING COMPANY LIMITED, a British Virgin Islands company
		
	By:	 	/s/    John McFarland
	Name:	 	John McFarland
	Title:	 	Director

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	UBS SECURITIES LLC, as Arranger, Syndication Agent and Documentation Agent
		
	By:	 	/s/    David B. Julie
	Name:	 	David B. Julie
	Title:	 	Attorney-in-Fact
		
	By:	 	/s/    Mary E. Evans
	Name:	 	Mary E. Evans
	Title:	 	Attorney-in-Fact
	
	 UBS AG, STAMFORD BRANCH, as
 Administrative Agent and Collateral Agent

		
	By:	 	/s/    David B. Julie
	Name:	 	David B. Julie
	Title:	 	Associate Director
		
	By:	 	/s/    Mary E. Evans
	Name:	 	Mary E. Evans
	Title:	 	Associate Director
	
	 UBS LOAN FINANCE LLC, as
 Swingline Lender

		
	By:	 	/s/    David B. Julie
	Name:	 	David B. Julie
	Title:	 	Associate Director
		
	By:	 	/s/    Mary E. Evans
	Name:	 	Mary E. Evans
	Title:	 	Associate Director

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	GOLDMAN SACHS CREDIT PARTNERS L.P.
		
	By:	 	/s/    Andrew Caditz
	Name:	 	Andrew Caditz
	Title:	 	Authorized Signatory

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	CITICORP NORTH AMERICA, INC.
		
	By:	 	/s/    Carl Cho
	Name:	 	Carl Cho
	Title:	 	Vice President

  

 Signature Page to Tenth Amendment to Credit Agreement 

			
	JPMORGAN CHASE BANK N.A.
		
	By:	 	/s/    William A. Austin
	Name:	 	William A. Austin
	Title:	 	Executive Director

  

 Signature Page to Tenth Amendment to Credit AgreementAmended and restated Employment Agreement

 Exhibit 10.1 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT 
 AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the
“Agreement”), effective as of June 30, 2008 (the “Commencement Date”), by and between UNITIL CORPORATION, a New Hampshire corporation (the “Company”) and ROBERT G. SCHOENBERGER (the “Executive”).

 The Company and the Executive previously entered into an employment agreement effective as of November 1, 2006 (the “Prior
Agreement”). The Company and the Executive desire to amend and restate the Prior Agreement to address certain issues under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). The Company and the Executive
agree that this Agreement shall amend and supersede the terms and conditions of the Prior Agreement effective as of the Commencement Date. 
 The Company desires to employ the Executive and the Executive is willing to be employed by the Company, on the terms and conditions of this Agreement. 
 Accordingly, in consideration of the premises and the respective covenants and agreements of the parties herein contained, and intending to be legally bound hereby, the parties hereto agree as follows: 
 1. Employment. The Company hereby agrees to employ the Executive, and the Executive hereby agrees to be employed by the Company, on the terms and
conditions set forth herein. 
 2. Term. The employment of the Executive under this Agreement shall commence on the Commencement Date
and shall end at the close of business on October 31, 2009 (the “Term”). 
 3. Title, Duties and Authority. The
Executive shall serve as Chairman of the Board of Directors (the “Board”) and as a member of the Board, and as Chief Executive Officer and President of the Company, and shall have such responsibilities and duties for the Company and its
subsidiaries consistent with the Executive’s positions as Chairman, Board member, Chief Executive Officer and President. The Executive shall have all of the powers and duties usually incident to the offices of Chairman, Chief Executive Officer
and President. The Executive shall devote substantially all of his working time and efforts to the business and affairs of the Company. The Executive agrees that he shall resign as a Board member effective on the date of his termination of
employment with the Company; which agreement shall survive the termination of this Agreement. 
 4. Compensation and Benefits.

 (a) Base Salary. During the Term, the Company shall pay the Executive a base salary (“Base Salary”), payable in accordance
with the Company’s normal practice for paying base salaries to its executive employees. The Base Salary shall initially be payable at the rate of $443,302 per annum, and shall be subject to annual review by the Board for discretionary periodic
increases in accordance with the Company’s compensation policies. 
  

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 (b) Bonus. The Executive shall participate in the Company’s Management Incentive Plan at the
target rate of 50%. 
 (c) Employee Benefits. The Executive shall be entitled to participate in the Company’s Supplemental
Executive Retirement Program (the “SERP”), and all other employee benefit plans made available by the Company (or any affiliate thereof) to all of its executives during the Term as may be in effect from time to time. 
 (d) Stock Plans. The Executive shall be entitled to participate in any stock option, restricted stock, phantom stock or similar plan of the
Company or any subsidiary as and to the extent provided by the Board from time to time. 
 (e) Expenses. During the Term, the
Executive shall be entitled to receive prompt reimbursement upon submission of expense claims to the Company for all reasonable and customary expenses incurred by the Executive in performing services hereunder, in accordance with the terms and
conditions of the Company’s expense reimbursement policy. The Executive shall be entitled to a monthly allowance of $1,000 for the leasing or financing by the Executive of a vehicle in accordance with the Company’s automobile policies. The
Company shall pay for the membership in a local club. 
 (f) Vacations. The Executive shall be entitled to paid vacation in accordance
with the Company’s vacation policy, subject to a minimum of four (4) weeks of paid vacation per year. The Executive shall also be entitled to all paid holidays and sick days given by the Company to its executives. 
 (g) Taxes. The Company may withhold from any amounts payable under this Agreement such federal, state, local and/or other taxes as shall be
required to be withheld pursuant to any applicable law or regulation. 
 (h) Board Fees. The Executive shall promptly remit to the
Company any compensation received by the Executive (including, without limitation, any fees, equity securities or retirement benefits) for service on the board of directors or similar governing body of any entity in which the Company owns at least
five percent of the voting equity securities, unless the Board authorizes the Executive to retain some or all of any such compensation. Notwithstanding the foregoing, the Executive shall be entitled to retain any reimbursements paid to him by any
such entity of the actual out-of-pocket expenses incurred by the Executive in attending any meeting of any such board or other governing body. Nothing in this Section 4(h) shall be deemed to authorize the Executive to serve on the board of
directors or similar governing body of any other entity if doing so would cause the Executive to be in breach of his obligations under any other provision of this Agreement. 
 (i) Change in Control. The Company and the Executive have entered into a Severance Agreement (“Severance Agreement”) dated June 30,
2008, providing for certain compensation and benefits during and after employment (including severance benefits) if a change in control of the Company occurs. This Agreement shall not affect the Executive’s rights or obligation under the
Severance Agreement and, as long as the Severance Agreement is not in effect, the Severance Agreement shall not affect this Agreement or the Executive’s rights or obligations under this Agreement. As provided in the Severance Agreement, if the
Severance Agreement becomes effective due to a change in control, the Severance Agreement shall supersede this Agreement. 
  

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 5. Termination. The Company, by action of the Board, may terminate the Executive’s employment
hereunder for any reason. 
 (a) If the Executive’s employment is terminated by the Company during the Term for any reason other than
for Cause (as defined below), death, or Disability (as defined below), or if the Executive terminates his employment hereunder for Good Reason (as defined below), except as otherwise provided in Section 10 hereof, the Company shall pay to the
Executive, as soon as practicable (but in no event more than fifteen (15) days) after the date of termination of employment, 
 (i) all
accrued and unpaid salary, bonus and expense reimbursements, 
 (ii) a lump sum cash
payment equal to the present value of twenty-four (24) monthly salary payments, assuming for this purpose that (A) each monthly salary payment would have been equal to 1/12th of the Executive’s Base Salary in effect at the time of his employment termination (disregarding any reductions in Base Salary that were not approved by the Executive) and
(B) such monthly salary payments would have been made on each of the 24 monthly anniversaries of the date the Executive’s employment terminated, 
 (iii) a lump sum cash payment equal to the present value of two (2) annual bonus payments, assuming for this purpose that (A) each such annual bonus payment would have been equal to the average of the annual
bonus amounts received by the Executive in the two calendar years preceding the year in which the employment termination occurs and (B) the first annual bonus would have been paid on the last business day of the first February following the
date of employment termination and the second annual bonus would have been paid on the last business day of the second February following the date of employment termination, and 
 (iv) a lump sum cash amount equal to the sum of (A) the present value of the monthly cost that would have been incurred by the Company (exclusive
of the Executive’s portion thereof and determined in good faith by the Company) if it provided group medical, dental and life insurance coverage to the Executive and the Executive’s eligible dependents (at the same level and Executive cost
as in effect at the time of employment termination) for a period of two (2) consecutive years following employment termination, determined based on the cost of such coverage at the time of employment termination and assuming such cost remained
constant through the coverage period, and (B) an additional payment (the “Additional Payment”) in an amount such that, after payment by the Executive of all Federal, State, city and local income taxes and the Executive’s portion
of all payroll taxes imposed upon the Additional Payment, the Executive retains an amount of the Additional Payment equal to the Federal, State, city and local income taxes and the Executive’s portion of all payroll taxes imposed upon the
payment provided pursuant to subpart (A) of this Section 5(a)(iv). For a period of two (2) consecutive years following employment termination, the Executive and the Executive’s eligible dependents shall remain eligible to
participate in the Company’s group medical, dental and life insurance plan, in each case, that is generally available to other senior executives of the Company; provided, that the Executive shall pay one-hundred (100%) percent of the cost
of such coverage. The continued coverage provided under this Section 5(a)(iv) shall not count against the Executive’s and the Executive’s dependent’s continuation of coverage period required under the Consolidated Omnibus Budget
Reconciliation Act of 1985, as amended (or any similar state or local law). 
  

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 For purposes of calculating the lump sum cash payments provided by this Section 5, present value shall be determined
by using a discount factor equal to one percentage point below the Prime Rate, compounded annually. The “Prime Rate” shall be the base rate on corporate loans at large U.S. money center commercial banks as reported in The Wall Street
Journal (or, if such rate is no longer published, such other base rate on corporate loans by large money center commercial banks in the United States to their most creditworthy customers as published by any newspaper or periodical of general
circulation) as of the date on which termination shall have occurred. 
 (b) If the Executive terminates his employment hereunder for any
reason other than for Good Reason, if the Executive’s employment hereunder is terminated due to the Executive’s death, or if the Company terminates the Executive’s employment as a result of Disability or Cause, the Company shall have
no further obligation hereunder and no further payments (except for accrued and unpaid salary, bonus and expense reimbursement) shall be made to the Executive. 
 (c) Disability. For purposes of this Agreement, “Disability” shall mean the Executive’s incapacity due to physical or mental illness which, if he were to apply, would in the sole determination of
the Board entitle him to the receipt of benefits under the Company’s long-term disability plan and if the Executive shall not have returned to the performance of his duties hereunder on a full-time basis within thirty (30) days after a
written Notice of Termination (as defined in Section 6(a)) is given to the Executive by the Company. 
 (d) Cause. For the
purposes of this Agreement, “Cause” shall mean: 
 (i) the failure by the Executive to substantially perform the Executive’s
duties hereunder (other than any such failure resulting from the Executive’s incapacity due to physical or mental illness which shall be subject to the provisions of Section 5(c)); 
 (ii) the willful violation by the Executive of any of the Executive’s material obligations hereunder; 
 (iii) the willful engaging by the Executive in misconduct which is materially injurious to the business or reputation of the Company or any of its
affiliates; or 
 (iv) the Executive’s conviction of a felony. 
 Notwithstanding the foregoing, the Executive shall not be terminated for Cause without: 
 (A) reasonable notice to the Executive setting forth the reasons for the Company’s intention to terminate the Executive’s employment hereunder
for Cause; 
 (B) the failure of the Executive to cure the nonperformance, violation or misconduct described in the notice referred to in
clause (A) of this paragraph, if the cure thereof is possible, to the reasonable satisfaction of the Board, within fifteen (15) days of such notice; 
 (C) an opportunity for the Executive, together with the Executive’s counsel, to be heard before the Board; and 
  

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 (D) delivery to the Executive of a written Notice of Termination (as defined in Section 6(a)) from
the Company notifying him that in the good faith opinion of a majority of the Board the Company is entitled to terminate the Executive for Cause as set forth above, and specifying the particulars thereof in detail. 
 (e) Good Reason. For the purposes of this Agreement, “Good Reason” shall mean the occurrence of any of the following events or
conditions unless the Executive specifically agrees in writing that such event or condition shall not constitute Good Reason: 
 (i) a
material diminution in the Executive’s authority, duties or responsibilities or the Company requiring the Executive to report to a corporate officer or employee rather than reporting directly to the Board; 
 (ii) a material change in the geographic location at which the Executive must perform services, which the Company has determined to include a change in
the Executive’s principal place of employment by the Company from the location of the Company’s principal place of business on the date of this Agreement to a location more than fifty (50) miles from such principal place of business;

 (iii) a material diminution in the Executive’s base compensation; or 
 (iv) any other action or inaction that constitutes a material breach by the Company of the Agreement. 
 6. Termination Procedure. 
 (a)
Notice of Termination. Any termination of the Executive’s employment by the Company or by the Executive shall be communicated by a written Notice of Termination to the other party hereto in accordance with Section 8. For purposes of
this Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in this Agreement relied upon and the Date of Termination, and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination of the Executive’s employment hereunder pursuant to the provision so indicated. 
 (b) Date of Termination. “Date of Termination” shall mean: 
 (i) if the Executive’s employment is terminated
on account of the Executive’s Disability, thirty (30) days after a Notice of Termination has been provided pursuant thereto (provided that the Executive shall not have returned to the performance of the Executive’s duties on a
full-time basis during such thirty (30) day period); 
 (ii) if the Executive’s employment is terminated for Cause, the date
specified in the Notice of Termination provided pursuant thereto; and 
 (iii) if the Executive’s employment is terminated for any
other reason, the date on which a Notice of Termination is provided or any later date (within thirty (30) days) set forth in such Notice of Termination. 
  

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 (c) Termination for Good Reason. Notwithstanding anything herein to the contrary, no event or
condition described in Section 5(e) shall constitute “Good Reason” unless (i) the Executive gives the Company notice of the termination for Good Reason within ninety (90) days of the initial existence of the event or
condition constituting Good Reason and (ii) the Executive gives the Company thirty (30) days’ prior written notice of such termination due to Good Reason and the Company fails to cure such event or condition within the thirty
(30) day period. 
 7. Restrictions. 
 (a) Reasonable Covenants. It is expressly understood by and between the Company and the Executive that the covenants contained in this Section 7 are an essential element of this Agreement and that but for
the agreement by the Executive to comply with these covenants and thereby not to diminish the value of the organization and goodwill of the Company or any affiliate of the Company, if any, including, without limitation relations with their
employees, suppliers, customers and accounts, the Company would not enter into this Agreement. The Executive acknowledges that he has been given the opportunity to independently consult with his legal counsel and agrees that such covenants are
reasonable and proper. 
 (b) Noncompetition; No Diversion of Customers, Etc. During the Term and for twelve (12) months after
the later of (i) the Executive’s Date of Termination, or (ii) the last day a payment is made to the Executive pursuant to Section 5, the Executive shall not: 
 (i) engage directly, alone or in association with or as a shareholder, principal, agent, partner, officer, director, employee or consultant of any other
organization or entity, in competition with the Company and/or any of its affiliates; 
 (ii) divert to any competitor of the Company or any
of its affiliates, any customer of the Company or any of its affiliates; or 
 (iii) solicit or encourage any officer, employee or
consultant of the Company or any of its affiliates to leave the employ of the Company or any of its affiliates for employment by or with any competitor of the Company or any of its affiliates; 
 provided, however, that the Executive may invest in stocks, bonds or other securities of any competitor of the Company or any of its affiliates if:

 (A) such stocks, bonds or other securities are listed on any national or regional securities exchange or have been registered under
Section 11(g) of the Securities Exchange Act of 1934; 
 (B) the Executive’s investment does not exceed, in the case of any class
of the capital stock of any one issuer, one percent (1%) of the issued and outstanding shares, or, in the case of other securities, one percent (1%) of the aggregate principal amount thereof issued and outstanding; and 
 (C) such investment would not prevent, directly or indirectly, the transaction of business by the Company and/or any of its affiliates with any state,
district, territory or possession of the United States or any governmental subdivision, agency or instrumentality thereof by virtue of any statute, law, regulation or administrative practice. 
  

 6 

 If, at any time, the provision of this Section 7(b) shall be determined to be invalid or
unenforceable by reason of being vague or unreasonable as to the area, duration or scope of activity, this Section 7(b) shall be considered severable and shall become and shall be immediately amended solely with respect to such area, duration
and scope of activity as shall be determined to be reasonable and enforceable by the court or other body having jurisdiction over the matter and the Executive agrees that this Section 7(b) as so amended shall be valid and binding as though any
invalid or unenforceable provision had not been included herein. Except as provided in this Section 7 and in Section 3, nothing in this Agreement shall prevent or restrict the Executive from engaging in any business or industry in any
capacity. 
 (c) Public Support and Assistance. The Executive agrees that following any termination of his employment hereunder by the
Company, the Executive shall not disclose or cause to be disclosed any negative, adverse or derogatory comments or information of a substantial nature about the Company or its management, or about any product or service provided by the Company, or
about the Company’s prospects for the future (including any such comments or information with respect to affiliates of the Company). The Company and/or any of its affiliates may seek the assistance, cooperation or testimony of the Executive
following any such termination in connection with any investigation, litigation or proceeding arising out of matters within the knowledge of the Executive and related to the Executive’s position as an officer or employee of the Company, and in
any such instance, the Executive shall provide such assistance, cooperation or testimony and the Company shall pay the Executive’s reasonable costs and expenses in connection therewith; in addition, if such assistance, cooperation or testimony
requires more than a nominal commitment of the Executive’s time, the Company shall compensate the Executive for such time at a per diem rate derived from the Executive’s Base Salary at the time of the Executive’s Date of Termination.

 (d) Nondisclosure of Confidential Information. During the Term, the Executive shall hold in a fiduciary capacity for the benefit of
the Company and its affiliates all Confidential Information (as defined below). After termination of the Executive’s employment with the Company, the Executive shall keep secret and confidential all Confidential Information and shall not use or
disclose to any third party in any fashion or for any purpose whatsoever, any Confidential Information. As used herein, “Confidential Information” shall mean any information regarding this Agreement, or any other information regarding the
Company or its affiliates which is not available to the general public, and/or not generally known outside the Company or any such affiliate, to which the Executive has or shall have had access at any time during the course of the Executive’s
employment with the Company, including, without limitation, any information relating to the Company’s (and its affiliates’): 
 (i)
business, operations, plans, strategies, prospects or objectives; 
 (ii) products, technologies, processes, specifications, research and
development operations or plans; 
 (iii) customers and customer lists; 
  

 7 

 (iv) sales, service, support and marketing practices and operations; 
 (v) financial condition and results of operations; 
 (vi) operational strengths and weaknesses; and 
 (vii) personnel and compensation policies and procedures.

 Notwithstanding the foregoing provisions of this Section 8, the Executive may discuss this Agreement with the members of the Executive’s
immediate family and with the Executive’s personal legal advisors. 
 (e) Specific Performance. Without intending to limit the
remedies available to the Company, the Executive agrees that damages at law would be an insufficient remedy to the Company in the event that the Executive violates any of the provisions of this Section 7, and that the Company may apply for and,
upon the requisite showing, have injunctive relief in any court of competent jurisdiction to restrain the breach or threatened breach of or otherwise to specifically enforce any of the covenants contained in this Section 7. 
 (f) Survival of Provisions. This Section 7 shall survive after the termination of this Agreement. 
 8. Notice. For the purpose of this Agreement, notices, demands and all other communications provided for herein shall be in writing and shall be
deemed to have been duly given when delivered or (unless otherwise specified) mailed by United States certified or registered mail, return receipt requested, postage prepaid, addressed as follows: 
 If to the Executive: 
 Robert G. Schoenberger

 3 Sea Road 
 North Hampton, NH
03862 
 If to the Company: 
 Unitil Corporation 
 6 Liberty Lane West 
 Hampton, NH 03842 
 or to such other address as any party may have furnished to the other in writing in accordance herewith,
except that notices of change of address shall be effective only upon receipt. 
 9. Successors. Without the prior written consent of
the Executive, this Agreement cannot be assigned by the Company except that it shall be binding automatically on any successors and assigns of all or substantially all of the business and/or assets of the Company (whether direct or indirect, by
purchase, merger, consolidation or otherwise). In addition, without the prior written consent of the Company, this Agreement cannot be assigned by the Executive, except that the right to receive payments or benefits hereunder may be transferred by
will or the laws of descent and distribution. This Agreement and all rights of the Executive hereunder shall inure to the benefit of and be enforceable by the Executive’s personal or legal representatives. 
  

 8 

 10. Code Section 409A. The provisions of this Agreement and all payments made pursuant to
this Agreement are intended to comply with, and should be interpreted so that they are consistent with, the requirements of Section 409A of the Code, and any related regulations or other applicable guidance promulgated thereunder (collectively,
“Section 409A”). It is the intent of the parties hereto that all severance payments and benefits provided pursuant to this Agreement qualify as short-term deferrals, as defined in Treasury Regulation §1.409A-1(b)(4), separation pay
due to an involuntary separation from service under Treasury Regulation §1.409A-1(b)(9)(iii), and/or limited payments, as defined in Treasury Regulation §1.409A-1(b)(9)(v)(D)). Notwithstanding the foregoing, if (i) it is determined
that any payments or benefits provided pursuant to this Agreement upon a separation from service (as that term is used in Section 409A) constitute deferred compensation for purposes of Section 409A (after taking into account the exception
for short-term deferrals set forth in Treasury Regulation §1.409A-1(b)(4), the exception for separation pay due to an involuntary separation set forth in Treasury Regulation §1.409A-1(b)(9)(iii), the exception for limited payments as set
forth in Treasury Regulation §1.409A-1(b)(9)(v)(D) and/or any other applicable exception from Section 409A) and (ii) the Executive is a “specified employee,” as determined under the Company’s policy for determining
specified employees, on the date on which the termination of employment occurs, no such payments or benefits shall be provided prior to the first business day after the date that is six months following the Executive’s termination of employment
or, if the Executive dies during such six month period, on the first business day after the date of the Executive’s death. The first payment that can be made shall include the cumulative amount of any amounts that could not be paid during such
six-month period. In addition, interest will accrue at the Federal short-term rate determined under Section 1274(d) of the Code (as in effect on the date of the separation from service or, if such date is not a business day, the first business
day prior to such date) on all payments not paid to the Executive prior to the first business day after the sixth month anniversary of termination of employment that otherwise would have been paid during such six-month period had this delay
provision not applied to the Executive and shall be paid with the first payment after such six-month period. For all purposes under this Agreement, references to termination of employment, employment termination or words of similar import shall be
interpreted to mean “separation from service,” as that term is used in Section 409A, and the Executive’s employment shall in no event be deemed to have terminated unless and until a separation from service shall have occurred for
purposes of Section 409A. 
 11. Arbitration. Except as provided in Section 7(e), all controversies, claims or disputes
arising out of or relating to this Agreement shall be settled by binding arbitration to be conducted in Hampton, New Hampshire under the rules of the American Arbitration Association, as the sole and exclusive remedy of either party, and judgment
upon any such award rendered by the arbitrator(s) may be entered in any court of competent jurisdiction. The costs of arbitration shall be borne by the unsuccessful party or otherwise as determined by the arbitrators in their discretion. 

12. Governing Law: The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of
New Hampshire without regard to conflicts of law principles. 
 13. Amendments. No provision of this Agreement may be modified, waived
or discharged unless such waiver, modification or discharge is agreed to in writing signed by the 

  

 9 

 
Executive and such officer of the Company as may be specifically designated for such purpose by the Board. No waiver by either party hereto at any time of
any breach by the other party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or
subsequent time. 
 14. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be
an original but all of which together shall constitute one and the same instrument. 
 15. Entire Agreement. Except as otherwise
provided in Section 4(i) hereof, this Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior agreements, promises, covenants, arrangements, communications,
representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter hereof have been made
by either party which are not set forth expressly in this Agreement. For avoidance of doubt, while this Agreement is in effect, the Executive shall not be eligible to receive severance payments under the Unitil Corporation Severance Pay Plan, as may
be amended from time to time, or any successor or similar plan maintained by the Company or an affiliate. 
 16. Severability. The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision hereof. 
 IN WITNESS WHEROF, the parties have executed this Agreement as of the date and year first above written. 
  

			
	UNITIL CORPORATION
		
	By:	 	 /s/ Eben S. Moulton

	Name:	 	Eben S. Moulton
	Title:	 	Chairman of the Compensation Committee
	
	ROBERT G. SCHOENBERGER
	
	 /s/ Robert G. Schoenberger

  

 10

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