Document:

Service Agreement between MagnaChip Semiconductor Ltd. and Tae Young Hwang

 Exhibit 10.21 
  
 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)
		
	“B”	 	Address:
		
	 	 	Citizen registration No.:
		
	 	 	Name:                                 (sign)Service Agreement between MagnaChip Semiconductor Ltd. and Jason Hartlove

 Exhibit 10.22 
  
 SERVICE AGREEMENT 
  
 THIS SERVICE AGREEMENT (“Agreement”) is executed by and between MagnaChip Semiconductor, Ltd., a Korean limited liability company
(the “Company”), IC Media Corporation, a Delaware corporation (“IC Media”), and Jason Hartlove, an individual (the “Officer”), effective as May 16, 2005. 
  
 WHEREAS, the Company desires to have the benefits of the
Officer’s knowledge and experience as a full-time officer, to employ the Officer in the manner hereinafter specified, and to make provision for payment of reasonable compensation to the Officer for such services, and the Officer is willing to
be employed by the Company to perform the duties incident to such employment upon the terms and conditions hereinafter set forth; 
  
 WHEREAS, the Company and IC Media are both wholly-owned subsidiaries of MagnaChip Semiconductor LLC, a Delaware limited liability company; and

  
 WHEREAS, to facilitate the employment of the Officer in
Korea, IC Media will temporarily assume the rights and obligations of the Company under this Agreement and dispatch the Officer to the Officer’s place of employment at the Company. 
  
 NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants, terms and conditions set forth
herein, and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company, IC Media, and the Officer hereby agree as follows: 
  

	 	1.	EFFECTIVENESS OF SERVICE AGREEMENT 

  
 This Agreement shall constitute a binding obligation of the Officer and the Company as of May 16, 2005 (the “Effective Date”). 
  

	 	2.	EMPLOYMENT AND DUTIES 

  
 (a) General. The Company shall hereby employ the Officer as Senior Vice President and General Manager, and the Officer agrees upon the terms and
conditions herein set forth to be employed by the Company. The Officer shall diligently perform such duties and have such responsibilities as the Board of Directors of the Company may establish from time to time, and the Officer shall report to the
Chief Executive Officer of the Company. 
  
 (b) Term.
Unless terminated at an earlier date in accordance with Section 4 below, the term of the Officer’s employment with the Company hereunder shall be for a term commencing on the Effective Date and ending on the third anniversary of the Effective
Date (the “Initial Term”). Thereafter, unless terminated at an earlier date in accordance with Section 4 below, the Initial Term and each Additional Term shall be automatically extended for successive one-year periods (each, an
“Additional Term”), in each case, commencing upon the expiration of the Initial Term or the then-current Additional Term, unless at least 90 days prior to the expiration of such term, either party gives written notice to the other
party of its intention not to extend the term of the Officer’s employment. 
  

 (c) Services. The Officer shall well and faithfully serve the Company, and shall devote all of the
Officer’s business time and attention to the performance of the duties of such employment and the advancement of the best interests of the Company and shall not, directly or indirectly, render services to any other person or organization for
which the Officer receives compensation without the prior written approval of the Company. The Officer hereby agrees to refrain from engaging in any activity that does, shall or could reasonably be deemed to conflict with the best interests of the
Company. 
  
 (d) Location of Employment. The Officer’s
place of employment shall be at the Company’s facility located in Seoul, Korea, but the Officer shall travel to the extent and to the places necessary for the performance of the Officer’s duties to the Company; provided, however, that
until such date as the Officer is legally qualified to work in Korea, the Officer’s place of employment shall be at the Company’s facility located in Santa Clara, California. After a period of expatriate service of six months to one year
in Seoul, Korea, the Officer and the Company expect that the Officer’s place of employment shall be moved back to Santa Clara, California, or such other location as the Officer and the Company shall mutually agree. 
  
 (e) Assumption and Dispatch by IC Media. The Officer, the Company, and
IC Media agree that until such time as the Company is authorized under Korean law to directly employ the Officer and the Officer is legally qualified to be directly employed by the Company in Korea, IC Media will from the Effective Date fully assume
the rights and obligations of the Company under this Agreement and dispatch the Officer to the Officer’s place of employment at the Company. 
  

	 	3.	COMPENSATION AND OTHER BENEFITS 

  
 Subject to the provisions of this Agreement, including, without limitation, the termination provisions contained in Section 4 below, the Company shall pay
and provide the following compensation and other benefits to the Officer as compensation for all services rendered hereunder: 
  
 (a) Salary. The Company shall pay the Officer a base salary at the rate of US$310,000.00 per annum (the “Salary”), payable to the
Officer in accordance with the standard payroll practices of the Company as are in effect from time to time, less all such deductions or withholdings required by applicable law. The Salary is payable in U.S. dollars to a bank account designated from
time to time by the Officer. Annual salary increases will be determined by the compensation committee of the Board of Directors of the Company (the “Committee”) in accordance with the Committee’s policies and procedures.

  
 (b) Annual Incentive. The Officer shall be eligible to
earn an annual cash bonus in accordance with the annual short-term incentive plan approved annually by the compensation committee of the Company (the “Annual Incentive”). The Annual Incentive shall be a target of 50% of the
Officer’s annual salary. 
  
 (c) Expenses. The Company
shall pay or reimburse the Officer for all reasonable out-of-pocket expenses incurred by the Officer in connection with the Officer’s employment 

  

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hereunder upon submission of appropriate documentation or receipts in accordance with the policies and procedures of the Company as are in effect from time
to time. 
  
 (d) Benefits. The Officer shall be eligible to
participate in or purchase as necessary and be reimbursed for medical, disability and life insurance plans and to receive other benefits applicable to senior officers of the Company generally in accordance with the terms of such plans as are in
effect from time to time. The Officer shall be entitled to the following expatriate/repatriation benefits: 
  
 (i) Visas and Work Permits. The Company will provide the necessary services and cover the cost to obtain the necessary visas and/or work
permits to enable the Officer to legally work and stay in Korea for the duration that the Officer is assigned to perform services in Korea. 
  
 (ii) Air Travel. The Company will pay for air flight expenses for the Officer and the Officer’s family to travel to Seoul, Korea, to
begin the Officer’s expatriate assignment. 
  
 (iii) Shipment of Household Goods. The Company shall reimburse the Officer reasonable costs to move the Officer’s household goods via surface transport from the U.S. to Korea and, upon an agreed-upon change of location of service or
upon the termination of this Agreement for any reason other than as set forth in Section 4(a) below, reasonable costs to move the Officer’s household goods via surface transport from Korea back to the U.S. 
  
 (iv) Temporary Housing. The Company shall reimburse the
Officer for reasonable costs for furnished temporary housing in Korea for up to 30 days upon the Officer’s arrival in Korea. A reasonable per diem shall be included if the temporary housing does not include cooking facilities. 
  
 (v) Host Country Housing. The Company shall reimburse the
Officer for reasonable housing expenses in Korea for rent on a single home or apartment up to a maximum of KRW8,500,000 per month. 
  
 (vi) Host Country Transportation. The Company shall provide the Officer with a single automobile for the Officer’s usage in Korea and
shall pay all expenses associated with the automobile. 
  
 (vii) Tax Treatment. The Company shall provide for tax equalization (to U.S. federal and California state) for all salary and benefits commencing in the tax year when the expatriate assignment begins through the end of the tax year of
repatriation (regardless of whether the Officer is still employed by the Company at that time). The Officer shall minimize U.S. taxes as permitted by Section 901 and 911 of the Internal Revenue Code. For the avoidance of doubt, this provision shall
be interpreted to mean that the Officer’s total tax liability shall not be higher than it would have been had the Officer remained in the U.S. 
  

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 (e) Vacation. The Officer shall be entitled to annual vacation of three weeks per year and, while
serving in an expatriate status in Korea, an additional two weeks of home leave per year (pro-rated if the Officer’s expatriate status is less than one year). 
  
 (f) Equity. The Officer is granted options to purchase 300,000 MagnaChip Semiconductor LLC common units (the
“Option”) pursuant to the MagnaChip Semiconductor LLC Equity Incentive Plan at a purchase price equal to $1.00 per common unit. Twenty-five percent of the Option will vest on the first anniversary of the Option grant date and an
additional 6.25% of the Option will vest on the last day of each calendar quarter thereafter. Other terms of the Option shall be as determined by the Board of Directors of MagnaChip Semiconductor LLC but shall not be less favorable than the terms of
options granted to other Company employees. 
  
 (g)
Indemnification. To the fullest extent permitted by law and the governing documents of the Company, the Company will indemnify and hold the Officer harmless from and against all losses, costs, and expenses arising from or relating to the
Officer’s services as an officer or employee of the Company. 
  

	 	4.	TERMINATION OF EMPLOYMENT 

  
 Subject to the notice and other provisions of this Section 4, the Company shall have the right to terminate the Officer’s employment hereunder, at
any time for any reason or for no stated reason, and the Officer shall have the right to resign, at any time for any reason or for no stated reason. 
  
 (a) Termination for Cause or Resignation. 
  
 (i) If, prior to the expiration of the Initial Term or any Additional Term, the Officer’s employment is terminated by the Company for
Cause or if the Officer resigns for any reason other than Good Reason from the Officer’s employment hereunder, the Officer shall be entitled to payment of (A) the Officer’s Salary accrued up to and including the date of termination or
resignation, and any unreimbursed expenses. Except to the extent required by the terms of the benefits provided under Section 3(f) or applicable law, the Officer shall have no right under this Agreement or otherwise to receive any other compensation
or to participate in any other plan, program or arrangement after such termination or resignation of employment with respect to the year of such termination or resignation and later years. The treatment of any outstanding options held by the Officer
as of the date of the termination shall be governed by the agreements and equity incentive plans pursuant to which the options were granted. 
  
 (ii) Termination for “Cause” shall mean a termination of the Officer’s employment with the Company because of (A) a
failure by the Officer to substantially perform the Officer’s customary duties with the Company in the ordinary course (other than such failure resulting from the Officer’s incapacity due to physical or mental illness or any such actual or
anticipated failure after the Officer provides written notification to the Company of resignation of employment for Good Reason under this Agreement) that, if susceptible to cure, has not been cured as determined by the Company within 30 days after
a written demand for substantial performance is delivered to the Officer by the 

  

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Company, which demand specifically identifies the manner in which the Company believes that the Officer has not substantially performed the Officer’s
duties; (B) the Officer’s gross negligence, intentional misconduct or fraud in the performance of the Officer’s employment; (C) the Officer’s indictment for a felony or for a crime involving fraud or dishonesty; (D) a judicial
determination that the Officer committed fraud or dishonesty against any natural person, firm, partnership, limited liability company, association, corporation, company, trust, business trust, governmental authority or other entity (each, a
“Person”); or (E) the Officer’s material violation of this Agreement or of one or more of the Company’s policies applicable to the Officer’s employment as may be in effect from time to time. 
  
 (iii) Termination of the Officer’s employment for Cause
shall be communicated by delivery to the Officer of a written notice from the Company stating that the Officer will be terminated for Cause, specifying the particulars thereof and the effective date of such termination. If the Company provides such
written notice to the Officer, to the extent the Officer is being terminated for a failure to perform the Officer’s duties, as described in Section 4(a)(ii)(A) above, the Officer shall have 30 days from the date of receipt of such notice to
effect a cure and, upon cure thereof by the Company, such failure to perform shall no longer constitute Cause for purposes of this Agreement. 
  
 (iv) The date of a resignation other than for Good Reason by the Officer shall be the date specified in a written notice of resignation
from the Officer to the Company provided that the Officer shall provide at least 60 days’ advance written notice of the Officer’s resignation other than for Good Reason. 
  
 (b) Involuntary Termination. 
  
 (i) If, prior to the expiration of the Initial Term or any Additional Term, the Company terminates the
Officer’s employment for any reason other than Disability, death or Cause or if the Officer resigns from the Officer’s employment for Good Reason (such termination or resignation being hereinafter referred to as an “Involuntary
Termination”), the Officer shall be entitled to (A) payment of the Officer’s Salary accrued up to and including the date of the Involuntary Termination, (B) payment of any unreimbursed expenses, and (C) severance (the
“Severance”), consisting of: 
  
 (1) continuation of the Officer’s Salary, at the rate in effect on the date of the Involuntary Termination, for a period of six months, commencing on the date next following the date of the Involuntary Termination; 
  
 (2) six months’ Company-paid benefits continuation for
the Officer and the Officer’s eligible dependents; and 
  
 (3) payment of the Annual Incentive, in a prorated amount based on the number of days the Officer was actually employed during the applicable plan year and on deemed satisfactory performance by the Officer, but based
on actual performance objectives satisfied by the Company, payable in a lump sum payment within 30 days after the date that the Annual Incentive is normally paid under the 

  

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terms of the plans and policies of the Company (but in no event more than 12 months following the date of the Involuntary Termination); 
  
 (4) acceleration of the Officer’s Option vesting
schedule by 12 months if the termination shall be within the first 12 months of employment; or by six months if the termination shall be after the first 12 months of employment; and 
  
 (5) repatriation (if applicable) to the Officer’s home country, including a household move,
transportation for the Officer and his family, and assumption by MagnaChip of any outstanding expatriate costs such as lease payments for housing or transportation. 
  
 provided, however, that the Severance payable to the Officer pursuant to this section shall be reduced to the extent that the Company
makes any severance payments pursuant to the Korean Commercial Code or any other U.S., Korean, or other statute. 
  
 (ii) Resignation for “Good Reason” shall mean resignation by the Officer because of, unless the Officer otherwise consents in
writing, one or more of the following circumstances: 
  
 (1) a reduction in the Officer’s overall pay package of more than 15% that is not applied to all officers at the Officer’s seniority level, provided that, so long as the Annual Incentive target is at a target level 50% or
more of the Officer’s Salary, any decrease in the amount of the Annual Incentive paid to the Officer shall not be taken into account in calculating a decrease in the overall pay package; or 
  
 (2) the nature or status of the Officer’s authorities,
duties or responsibilities has been materially and adversely altered. 
  
 (iii) Resignation for Good Reason shall be communicated by delivery to the Company of a written notice from the Officer stating that the Officer will be resigning for Good Reason, specifying the particulars thereof
and the effective date of such resignation. If the Officer provides such written notice to the Company, the Company shall have 30 days from the date of receipt of such notice to effect a cure of the material breach described therein and, upon cure
thereof by the Company, such material breach shall no longer constitute Good Reason for purposes of this Agreement. 
  
 (iv) The date of termination of employment without Cause shall be the date specified in a written notice of termination to the Officer.
The date of resignation for Good Reason shall be the date specified in a written notice of resignation from the Officer to the Company; provided, however, that no such written notice shall be effective unless the cure period specified in
Section 4(b)(iii) above has expired without the Company having corrected the event or events subject to cure. 
  
 (c) Termination Due to Disability. In the event of the Officer’s Disability, the Company shall be entitled to terminate the Officer’s
employment. In the case that the Company terminates the Officer’s employment due to Disability, the Officer shall be entitled to (i) 

  

 6 

 
payment of the Officer’s Salary up to and including the date of termination, (ii) payment of any unpaid expense reimbursements, and (iii) payment of the
Annual Incentive, in a prorated amount based on the number of days the Officer was actually employed during the applicable plan year, based on actual performance objectives satisfied by the Company, payable in a lump sum payment within 30 days of
the date that the Annual Incentive is normally paid under the terms of the plans and policies of the Company. As used in this Section 4(c), the term “Disability” shall mean that the Company determines that due to physical or mental
illness or incapacity, whether total or partial, the Officer is substantially unable to perform the Officer’s duties hereunder for a period of 180 consecutive days or shorter periods aggregating 180 days during any period of 365 consecutive
days. The Officer shall permit a licensed physician agreed to by the Company and the Officer (or, in the event that the Company and the Officer cannot agree, by a licensed physician agreed upon by a physician selected by the Company and a physician
selected by the Officer) to examine the Officer from time to time prior to the Officer’s being determined to be Disabled, as reasonably requested by the Company, to determine whether the Officer has suffered a Disability hereunder. 

 
 (d) Death. In the event of the Officer’s death while employed
by the Company, the Officer’s estate or named beneficiary shall be entitled to (i) payment of the Officer’s Salary up to and including the date of termination, (ii) payment of any unpaid expense reimbursements, and (iii) payment of the
Annual Incentive, in a prorated amount based on the number of days the Officer was actually employed during the applicable plan year payable in a lump sum payment within 30 days of the date that the Annual Incentive is normally paid under the terms
of the plans and policies of the Company. 
  

	 	5.	COVENANTS 

  
 (a) Confidential Information. As an officer of the Company, the Officer acknowledges that the Officer has had and will have access to confidential
or proprietary information or both relating to the business of, or belonging to, the Company or any affiliates or third parties including, but not limited to, proprietary or confidential information, technical data, trade secrets, or know-how in
respect of research, product plans, products, services, customer lists, customers, markets, computer software (including object code and source code), data and databases, outcomes research, documentation, instructional material, developments,
inventions, processes, formulas, technology, designs, drawings, engineering, hardware, configuration information, models, manufacturing processes, sales information, cost information, business plans, business opportunities, marketing, finances or
other business information disclosed to the Officer in any manner including by drawings or observations of parts or equipment, etc., all of which have substantial value to the Company (collectively, “Confidential Information”).

  
 (i) The Officer agrees that while employed
with the Company and after the termination of the Officer’s employment for any reason, the Officer shall not: (A) use any Confidential Information except in the course of the Officer’s employment by the Company; or (B) disclose any
Confidential Information to any other person or entity, except to personnel of the Company utilizing it in the course of their employment by the Company or to persons identified to the Officer in writing by the Company, without the prior written
consent of the Company. 
  

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 (ii) While the Officer is employed with the Company and after the termination of the
Officer’s employment for any reason, the Officer shall respect and adhere to any non-disclosure, confidentiality or similar agreements to which the Company or any of its affiliates are, or during the period of the Officer’s employment by
the Company, become, a party or subject. Upon the request of the Officer, the Company shall disclose to the Officer any such agreements to which it is a party or is subject. 
  
 (iii) The Officer hereby confirms that all Confidential Information and “Company Materials” (as
hereinafter defined) are and shall remain the exclusive property of the Company. Immediately upon the termination of the Officer’s employment for any reason, or during the Officer’s employment with the Company upon the request of the
Company, the Officer shall return all Company Materials, or any reproduction of such materials, apparatus, equipment and other physical property. For purposes of this Agreement, “Company Materials” are documents or other media or tangible
items that contain or embody Confidential Information or any other information concerning the business, operations or plans of the Company, whether such documents have been prepared by the Officer or others. 
  
 (b) Disclosure of Previously Acquired Information to Company. The
Officer hereby agrees not to disclose to the Company, and not to induce the Company to utilize, any proprietary information or trade secrets of any other party that are in the Officer’s possession, unless and to the extent that the Officer has
authority to do so. 
  
 (c) Non-Competition. While the
Officer is employed by the Company and, after the Officer’s termination of employment for any reason, until the earlier of (i) the first anniversary of the date of termination and (ii) the third anniversary of the Effective Date, the Officer
(and any entity or business in which the Officer or any affiliate of the Officer has any direct or indirect ownership or financial interest) shall not, except with the prior written consent of the Board of Directors, directly or indirectly, own any
interest in, operate, join, control or participate as a partner, director, principal, officer, or agent of, enter into any employment of, act as a consultant to, or perform any services for any business which at any time during such period is in
competition with any business in which the Company, or any of its affiliates, is planning to be engaged in the near future or is engaged on or prior to the termination of Officer’s employment by the Company, anywhere in the world. This
provision shall not be construed to prohibit the ownership by the Officer of less than 2% of any class of securities of any corporation that has a class of securities registered pursuant to the Securities Exchange Act of 1934, as amended, so long as
the Officer remains a passive investor in such entity. 
  
 (d)
No Solicitation. While the Officer is employed by the Company and for a two-year period thereafter, the Officer shall not, directly or indirectly, for the Officer’s own account or for the account of any other Person (i) solicit, employ,
retain as a consultant, interfere with or attempt to entice away from the Company or any of its affiliates, or any successor to any of the foregoing, any individual who is, has agreed to be or within one year of such solicitation, employment,
retention, interference or enticement has been, employed or retained by the Company or any of its subsidiaries or any successor to any of the foregoing or (ii) solicit or attempt to solicit the trade of any Person which, at the time of such
solicitation, is a customer of the Company or its affiliates, or any successor to any of the foregoing, or which the Company or 

  

 8 

 
its affiliates, or any successor to any of the foregoing, is undertaking reasonable steps to procure as a customer at the time of or immediately preceding
the termination of Officer’s employment by the Company; provided, however, that this limitation shall only apply to any product or service which is in competition with a product or service of the Company or its affiliates. 
  
 (e) Non-Disparagement. The Officer and the Company agree that at any
time during the Officer’s employment with the Company or at any time thereafter, neither the Company nor the Officer shall make, or cause or assist any other person to make, any statement or other communication which impugns or attacks, or is
otherwise critical of, the reputation, business or character of the other, any subsidiary or any of their respective officers, directors, employees, products or services. The foregoing restrictions shall not apply to any statements that are made
truthfully in response to a subpoena or other compulsory legal process. 
  
 (f) Enforcement. The Officer hereby acknowledges that the Officer has carefully reviewed the provisions of this Agreement and agrees that the provisions are fair and equitable. However, in light of the possibility of differing
interpretations of law and change in circumstances, the parties hereto agree that if any one or more of the provisions of this Agreement is determined by a court of competent jurisdiction to be invalid, void or unenforceable under circumstances then
existing, the parties hereto agree that the maximum period, scope or geographical area reasonable or enforceable under such circumstances shall be substituted for the stated period, scope or area. 
  

	 	6.	GENERAL PROVISIONS 

  
 (a) Tax Withholding. All amounts paid to the Officer hereunder shall be subject to all applicable federal, state, and local wage withholding.

  
 (b) Notices. Any notice hereunder by either party to
the other shall be given in writing by personal delivery, or certified mail, return receipt requested, or (if to the Company) by telex or facsimile, in any case delivered to the applicable address set forth below: 
  

			
	 (i)     If to the Company:
	  	 MagnaChip Semiconductor, Ltd.
 891 Daechi-dong,
Kangnam-gu
 Seoul 135-738 Korea
 Fax: 82-2-3459-3867

Attn: General Counsel

		
	 (ii)    If to IC Media:
	  	 IC Media Corporation
 c/o MagnaChip Semiconductor,
Ltd.
 891 Daechi-dong, Kangnam-gu
 Seoul 135-738
Korea
 Fax: 82-2-3459-3867
 Attn: General
Counsel

		
	 (iii)  If to the Officer:
	  	at the last known residential address on the personnel records of the Company;

  
 or to such other persons or other
addresses as either party may specify to the other in writing. 
  

 9 

 (c) Assignment; Assumption of Agreement. This Agreement shall not be assignable, in whole or in
part, by either party without the prior written consent of the other party, except as provided herein. The Company may assign its rights and obligations under this Agreement to any corporation or other business entity (i) which is an affiliate of
the Company, (ii) with which the Company may merge or consolidate, or (iii) to which the Company may sell or transfer all or substantially all of its assets or 50% or more of the voting stock entitled to elect the members of the Board of Directors
of the Company, provided that in each case such successor company expressly assumes the Company’s obligations hereunder in writing. After any such assignment by the Company, the Company shall be discharged from all further liability hereunder
and such assignee shall thereafter be deemed to be the “Company” for purposes of all terms and conditions of this Agreement, including this Section 6(c). For purposes of this Section 6(c), “affiliate” means any company that the
Company controls, that controls the Company, or that is under common control with the Company. 
  
 (d) Amendment. No provision of this Agreement may be amended, modified, waived or discharged unless such amendment, modification, waiver or discharge is agreed to in writing and signed by the parties. 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. 
  
 (e)
Severability. If any term or provision hereof is determined to be invalid or unenforceable in a final court or arbitration proceeding, (i) the remaining terms and provisions hereof shall be unimpaired and (ii) the invalid or unenforceable
term or provision shall be deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision. 
  
 (f) Governing Law and Venue. This Agreement shall be governed by and
construed in accordance with the laws of the State of Delaware, and the venue for all disputes arising out of this Agreement shall be the state or federal courts located therein. 
  
 (g) Entire Agreement. This Agreement contains the entire agreement of the Officer, the Company and any predecessors
or affiliates thereof with respect to the subject matter hereof and all prior agreements and negotiations are superseded hereby as of the date of this Agreement. 
  
 (h) Counterparts. This Agreement may be executed by the parties hereto in counterparts, each of which shall be deemed
an original, but both such counterparts shall together constitute one and the same document. 
  
 [Signature Page Follows] 
  

 10 

 IN WITNESS WHEREOF, the Company and Officer have executed this Agreement effective as of the
Effective Date. 
  

			
	 MAGNACHIP SEMICONDUCTOR, LTD.

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 IC MEDIA CORPORATION

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	 OFFICER

	
	 
	 Jason Hartlove

  
 [Signature Page to
Service Agreement] 
  

 11

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