Document:

exv10w34

Exhibit 10.34

MAGNACHIP SEMICONDUCTOR LLC

NOTICE OF GRANT OF UNIT OPTION

[US Participants]

The
Participant has been granted an option (the “Option”) to purchase certain Common Units of
MagnaChip Semiconductor LLC pursuant to the MagnaChip Semiconductor LLC 2009 Common Unit Plan (the
“Plan”), as follows:

	 	 	 
	Participant:
	 	Brent Rowe
	 
	 	 
	Date of Grant:
	 	December 8, 2009
	 
	 	 
	Number of Option Units:
	 	840,000, subject to adjustment as provided by the Option Agreement.
	 
	 	 
	Exercise Price:
	 	US $1.16
	 
	 	 
	Initial Vesting Date:
	 	The date one (1) year after the Date of Grant
	 
	 	 
	Option Expiration Date:
	 	The date ten (10) years after the Date of Grant
	 
	 	 
	Tax Status of Option:
	 	Nonstatutory Option
	 
	 	 
	Vested Units:
	 	Except as provided in the Option Agreement and provided the Participant’s Service has not terminated prior to the applicable
 date, the number of Vested Units (disregarding any resulting fractional Unit) as of any date is determined by multiplying the
Number of Option Units by the cumulative “Vested Ratio” (not to exceed 1.0) determined as of such date as follows:

	 	 	 
	 	 	Vested Ratio
	Prior to Initial Vesting Date	 	0.00
	 	 	 
	On Initial Vesting Date	 	0.34
	 	 	 
	Plus, on completion of next period of three (3) months	 	0.09
	 	 	 
	Plus, on completion of each of next
three (3) periods of three (3) months	 	0.08
	 	 	 
	Plus, on completion of next period of three (3) months	 	0.09
	 	 	 
	Plus, on completion of each of next
three (3) periods of three (3) months	 	0.08

The
Exercise Price represents an amount the Company believes to be no less than the fair market
value of a Unit as of the Date of Grant, determined in good faith in compliance with the
requirements of Section 409A of the Code. However, there is no guarantee that the Internal Revenue
Service will agree with the Company’s determination. A subsequent IRS determination that the
Exercise Price is less than such fair market value could result in adverse tax consequences to the
Participant. By signing below, the Participant agrees that the Company, its directors, officers and
members shall not be held liable for any tax, penalty, interest or cost incurred by the
Participant as a result of such determination by the IRS. The Participant is urged to consult with
his or her own tax advisor regarding the tax consequences of the Option, including the application
of Section 409A.

By their signatures below, the Company and the Participant agree that the Option and the Units
that may be acquired upon the exercise of the Option are governed by this Grant Notice, by the
provisions of the Plan and the Option Agreement, and by the Operating Agreement, all of which are
attached to and made a part of this document. The Participant acknowledges receipt of copies of the
Plan, the Option Agreement and the Operating Agreement, represents that the Participant has read
and is familiar with their provisions, and hereby accepts the Option subject to all of their terms
and conditions.

	 	 	 	 	 
	MAGNACHIP SEMICONDUCTOR LLC	 	PARTICIPANT
	 
	By:

	 	/s/ Sang Park
	 	/s/ Brent Rowe
	 
	 	 	 	 
	 

	 	 	 	Signature
	 
	Its:

	 	CEO & Chairman
	 	12/16/09
	 
	 	 	 	 
	 

	 	 	 	Date
	Address:

	 	891 Daechi-dong,

Gangnam-gu Seoul, Korea
135-738
	 	 
	 	 	 	 
	 	 	 	Address
	 	 	 	 	
	 
	 	 	 	 

			
	ATTACHMENTS:	 	 2009 Common Unit Plant, as amended to the Date of Grant; Option Agreement and Exercise Notice;
and Operating Agreementexv10w35

Exhibit 10.35

MAGNACHIP SEMICONDUCTOR LLC

NOTICE OF GRANT OF RESTRICTED UNITS

[US Participants]

The Participant has been granted an award (the “Award”) of certain Common Units (the “Units”)
of MagnaChip Semiconductor LLC pursuant to the MagnaChip Semiconductor LLC 2009
Common Unit Plan (the “Plan”), as follows:

	 	 	 
	Participant:
	 	Brent Rowe
	 
	 	 
	Date of Grant:
	 	December 8, 2009
	 
	 	 
	Total Number of Units:
	 	560,000, subject to adjustment as provided by the Restricted Unit Agreement.
	 
	 	 
	Fair Market Per Unit on Date
of Grant:
	 	US $0.74
	 
	 	 
	Initial Vesting Date:
	 	The Date of Grant
	 
	 	 
	Vested Units:
	 	Except as provided in the
Restricted Unit Agreement and provided the Participant’s Service
has not terminated prior to the applicable date, the number of Vested
Units (disregarding any resulting fractional Unit) as of any date is determined by multiplying the Total
Number of Units by the cumulative “Vested
Ratio” (not to exceed 1.0) determined as of such date as follows:

	 	 	 
	 	 	Vested Ratio
	Prior to Initial Vesting Date	 	0.0
	 	 	 
	On Initial Vesting Date	 	0.34
	 	 	 
	Plus, on completion of next period of one (1) year	 	0.33
	 	 	 
	Plus, on completion of next period of one (1) year	 	0.33

     By their signatures below, the Company and the Participant agree that the Award is
governed by this Grant Notice, by the provisions of the Plan and Restricted Unit
Agreement, and by the Operating Agreement, all of which are attached to and the made part
this document. The Participant acknowledges receipt of copies of the Plan, the Restricted
Unit Agreement and the Operating Agreement, represents that the Participant has read and
is familiar with their provisions, and hereby accepts the Award subject to all of their
terms and conditions.

	 	 	 	 	 
	MAGNACHIP SEMICONDUCTOR LLC	 	PARTICIPANT
	 
	By:

	 	/s/ Sang Park
	 	/s/ Brent Rowe
	 
	 	 	 	 
	 

	 	 	 	Signature
	 
	Its:

	 	CEO & Chairman
	 	12/16/2009
	 
	 	 	 	 
	 

	 	 	 	Date
	Address:

	 	891 Daechi-dong,

Gangnam-gu Seoul, Korea
135-738
	 	 
	 	 	 	 
	 	 	 	Address
	 
	 
	 	 	 	 

			
	ATTACHMENTS:	 	2009 Common Unit Plan, as amended to the Date of Grant; Restricted Unit
Agreement; Assignment Separate from Certificate; form of Section
83(b) Election; and Operating Agreementexv10w36

Exhibit 10.36

891 Daechi-dong, Kangnam-gu,

Seoul,

135-178, Korea

Tel: 82-2-3459-3675

Fax: 82-2-3459-3686

www.magnachip.com

Confidential

September 5, 2006

Margaret Sakai

#104 World Meridian,

231 Gumi-Dong, Bundang-Gu,

Seongnam-Si, Gyeonggi-Do

Dear Margaret:

     MagnaChip Semiconductor, Ltd. (“MagnaChip”) is pleased to present you with an offer for
employment in the position of Senior Vice President and Corporate Controller, reporting to Robert
Krakauer, Executive Vice President, Corporate Operations, and Chief Financial Officer. We believe
that you have significant potential to make valuable contributions to MagnaChip, and we hope you
will find your employment with us a rewarding experience.

     You will be based at MagnaChip’s Seoul office, but will be expected to travel as needed within
Korea and to other destinations as the job may require. The expected start date of your employment
is November 1, 2006.

     Your annual salary will be USD250,000 per annum. You will be paid in accordance with
MagnaChip’s normal payroll practices and your compensation will be subject to payroll deductions
and all required withholdings. Annual salary increases will be determined by MagnaChip in
accordance with MagnaChip’s internal policies and procedures. You will be eligible to earn an
annual incentive of up to 50% of your base salary. The annual incentive will be based on company
performance and attainment of your management objectives under a plan to be established and
approved the Board of Directors of MagnaChip’s parent company (the “Board”). MagnaChip may from
time to time in its sole discretion adjust the salary and benefits paid to you and its other
employees in the normal course of operations.

     Upon approval by the Board of Directors of MagnaChip Semiconductor LLC (the “Board”), you will
be granted options to purchase 75,000 MagnaChip common units (the “Option”) pursuant to the
MagnaChip Semiconductor LLC Equity Incentive Plan at the exercise price of $3.00 per common unit.
An installment of 25% of the common units subject to the Option shall become vested and exercisable
on the first anniversary of the commencement date of your employment and 6.25% of the common units
subject to the Option shall become vested and exercisable at the end of each three month period
thereafter on the same day of the month as the commencement date (or, if earlier, the last day of
such month), subject to your continuing employment with the Company. Other terms of the Option
shall be as determined by the Board, and prior to receiving the Option you must execute an option
agreement in the form as approved by the Board.

 

			
	 	 	 
	• Page 2
	 	September 5, 2006

     You will be eligible to participate in MagnaChip’s employee benefits programs for which
you qualify and as are applicable to other MagnaChip employees of your level based in Korea. In
addition to that, you shall be entitled to the following expatriate benefits:

	 	(a)	 	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 employee to legally work and stay in
Korea for the duration that the employee is assigned to perform
services in Korea.
	 
	 	(b)	 	School tuition for children. The Company will pay gross tuition,
including school bus fees, for your two children at a foreign
school in Korea.
	 
	 	(c)	 	Housing support. The Company understands that you have located
rental housing in Seoul (the “apartment”) for which you the
lessor requires a key money deposit (jeonse) in the amount of
KRW750,000,000 (the “key money deposit”). Subject to the
conditions set forth herein, the Company agrees to enter a lease
arrangement with the apartment owner for your benefit in which
the Company leases the apartment and pays the key money deposit
in the Company’s name; provided, however, that (i) the Company
shall in no event be obligated for more than the KRW750,000,000
key money deposit; (ii) the Company shall retain all rights to
and under the key money deposit; (iii) you, the apartment owner,
and all other holders of security on the apartment agree to
provide the Company with a first-priority jeonse right
registration on the apartment as first-priority security for the
Company’s key money deposit; (iv) you and the apartment owner
shall provide all required assistance to effect such jeonse right
registration; (v) you shall be responsible for all maintenance
fees, resident fees, utilities, and other costs and expenses
related to your occupancy of the apartment; and (vi) upon
termination of your employment with the Company for any reason,
you will immediately (x) vacate the apartment, or (y) arrange for
the substitution of the Company on the apartment lease, the
return of the full key money deposit to the Company, and the
release of the Company from all obligations related to the
apartment and this housing support provision. This offer of
housing support is conditional upon your tender to the Company of
an accurate, up-to-date copy of the real property registry and
current and prospective lease agreements for the apartment. If
the Company in its sole discretion determines that entering the
lease, providing the key money deposit, and effecting the jeonse
registration are impractical or not in the reasonable best
interests of the Company, you and the Company agree to negotiate
a suitable substitute arrangement that effects the intent of you
and the Company parties under this housing support provision.
	 
	 	(d)	 	Company Car. The Company will furnish a company car with a driver
to go to and from work, but during the day, driver will be in a
pool for general corporate use.
	 
	 	(e)	 	Tax treatment. The Company shall provide for tax equalization
commencing in the tax year when the employment begins through the
end of tax year of termination of employment. The employee 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 employee’s total tax
liability shall not be higher than it would have been had the
employee remained in the U.S. The Company will provide tax
preparation services to assist the Company with the preparation
of the employee’s personal income tax returns for the U.S. and
Korea.

 

			
	 	 	 
	• Page 3
	 	September 5, 2006

	 	(f)	 	Vacation. The employee shall be entitled to annual
vacation of three weeks per year and, while in an
expatriate status in Korea, an additional two weeks
of home leave per year, inclusive of business-class
flight expenses for one trip to the U.S. for
employee.
	 
	 	(g)	 	Health insurance. The employee shall be eligible to participate
in or purchase as necessary and be reimbursed for medical,
disability and life insurance plans as per the Company’s plans
and policies.
	 
	 	(h)	 	The Company shall pay or reimburse the employee for all
reasonable out-of-pocket expenses incurred by the employee in
connection with the employee’s employment hereunder upon
submission of appropriate documentation or receipts in accordance
with the policy and procedures of the Company as are in effect
from time to time.

     As an employee of MagnaChip organization, you will be expected to abide by MagnaChip’s rules
and regulations and sign and comply with MagnaChip’s form employment agreement for employees based
in Korea that includes confidentiality and non-competition provisions. Your employment relationship
with MagnaChip is at-will, although you will be eligible for severance programs as required by
Korean law. You may terminate your employment with MagnaChip at any time and for any reason
whatsoever simply by notifying us. Likewise, MagnaChip may terminate your employment at any time
and for any reason whatsoever, with or without cause or advance notice. Upon termination of your
employment by MagnaChip without cause, MagnaChip will pay you (i) severance in the form of a
continuation of your salary, at the rate in effect on the date of the involuntary termination
without cause, for a period of six months, commencing on the date next following the date of the
involuntary termination, (ii) payment of the annual incentive, in a prorated amount based on the
number of days you were actually employed during the applicable plan year and on deemed
satisfactory performance by you and MagnaChip, and (iii) will provide six months’ Company-paid
benefits for you and your dependents; provided the severance payable to you shall be reduced to the
extent that the Company makes any severance payments pursuant to the Korean Commercial Code or any
other statute.

     This letter forms the complete and exclusive offer of your employment with MagnaChip. No other
representative has any authority to modify or enter into an agreement or modification, express or
implied, contrary to the foregoing. Any such modification or agreement must be in writing and
signed by Sang-ho Park, Robert Krakauer, or Victoria Miller Nam and must clearly and expressly
specify an intent to change the at-will nature of your employment.

     We look forward to your participation in the future growth of MagnaChip. Please indicate your
acceptance of this offer of employment by signing in the space below. Please fax or e-mail an
executed copy of this letter to me as soon as possible, with the original to follow by mail.

	 	 	 	 	 
	 	Sincerely,

 	 
	 	/s/ Robert Krakauer
 	 
	 	Robert Krakauer 	 
	 	Executive Vice President, Corporate Operations,

and Chief Financial Officer

MagnaChip Semiconductor LLC 	 
	 

 

			
	 	 	 
	• Page 4
	 	September 5, 2006

THIS EMPLOYMENT OFFER IS WHOLLY AGREED AND ACCEPTED BY:

	 	 	 
	
	 	 
	/s/ Margaret Sakai
 

Margaret Sakai

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