Document:

Intellectual Property License Agreement Dated as of October 6, 2004

 Exhibit 10.7 
  
 Execution Copy 
  
 Intellectual Property License Agreement 
  
 This Intellectual Property License Agreement (this “Agreement”) is made and entered into this 6 day of October, 2004, by and between MagnaChip
Semiconductor, Ltd., a company organized and existing under the Laws of the Republic of Korea (“Korea”), with offices at 1, Hyangjeong-dong, Heungduk-gu, Cheongju-si, Chungcheongbuk-do, Korea (“Purchaser”), and Hynix
Semiconductor Inc., a corporation organized under the Laws of Korea, with offices at San 136-1, Ami-Ri, Bubal-Eub, Ichon-Si. Kyoungki-Do, Korea (“Hynix”). Either Purchaser or Hynix may be referred to herein as a “Party” or
together as the “Parties,” as the case may require. 
  
 RECITALS 
  
 WHEREAS, Purchaser and Hynix have entered
into a certain Business Transfer Agreement, dated as of June 12, 2004, as amended (the “Business Transfer Agreement”) pursuant to which Purchaser will acquire all of the Acquired Assets and assume all of the Assumed Liabilities upon the
terms and conditions set forth in the Business Transfer Agreement; 
  
 WHEREAS, the Parties wish to license to each other certain Intellectual Property in accordance with the terms and conditions contained in this Agreement; and 
  
 WHEREAS, the execution and delivery of this Agreement is required by the Business Transfer Agreement and is a condition to
closing of the transactions contemplated thereunder. 
  
 NOW,
THEREFORE, in consideration of the promises and the mutual covenants and undertakings contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties, intending to be legally
bound hereby, do agree as follows: 
  

	1.	DEFINITIONS 

  
 Capitalized terms used herein shall have the meanings ascribed to such terms in the Business Transfer Agreement unless otherwise defined herein or as set forth below. 
  

	 	1.1.	“Confidential Information” means (i) all information and proprietary materials of Hynix which is not publicly known and is in the possession of, or disclosed by Hynix to,
Purchaser or a representative of Purchaser and relating to Hynix’s business (after giving effect to the transactions contemplated by the Business Transfer Agreement), including but not limited to Hynix’s Intellectual Property and
proprietary business information and (ii) all information and proprietary materials of Purchaser (after giving effect to the transactions contemplated by the Business Transfer Agreement) which is not publicly known and is in the possession of, or
disclosed by Purchaser to, Hynix or a representative of Hynix and relating to Purchaser’s business, including but not limited to Purchaser’s Intellectual Property and proprietary business information. 

  

	 	1.2.	“Hynix Licensed Intellectual Property” means any Intellectual Property (other than Purchaser Licensed Intellectual Property (as defined below)) of Hynix and/or

 any Subsidiaries of Hynix, as such Intellectual Property existed as of the Closing Date; provided however
that Hynix shall have the right to delete, from time to time, from the definition of Hynix Licensed Intellectual Property, any Patents (as defined below) which Hynix chooses in its sole discretion to abandon. In the case that Hynix abandons any
Patent(s) as permitted pursuant to the foregoing sentence, notwithstanding any other provision to the contrary, the license granted under this Agreement for such Patent shall immediately terminate. 
  

	 	1.3.	“Intellectual Property” means patents, patent applications, utility models, utility model applications and industrial design registrations and applications, together with
any continuations, continuations-in-part or divisional applications thereof, and all patents issued or issuing thereon and unfiled invention disclosures (the “Patents”), as well as other technology, know-how, trade secrets, processes,
formulae, technical information, designs, data, documentation, drawings, plans, specifications, formulations, methods, procedures and reports, and other general and specific knowledge, experience, techniques and information, in written or
machine-readable form and otherwise (collectively, the “Know-How”), the mask work rights/chip layout (regardless of registration) (“Mask Works”), and software and copyrights (including without limitation computer programs and
computer program registrations and applications) (“Copyrights”), but expressly excluding for purposes of this definition, trademarks, service marks, trade names, logotypes, slogans, and trade dress associated therewith and/or product or
part identification codes (“Trademarks”) and applications for Trademarks. 

  

	 	1.4.	“Purchaser ‘022 Patents’” means U.S. Patent No. 5,438,022 and its foreign counterparts that are part of the Acquired Assets which have been
transferred to Purchaser under the Business Transfer Agreement. 

  

	 	1.5.	“Purchaser Licensed Intellectual Property” means those of the Acquired Assets which are Intellectual Property, as such Intellectual Property existed as of the Closing
Date; provided however that Purchaser shall have the right to delete, from time to time, from the definition of Purchaser Licensed Intellectual Property, any Patents which Purchaser chooses in its sole discretion to abandon. In the case that
Purchaser abandons any Patent(s) as permitted pursuant to the foregoing sentence, notwithstanding any other provisions to the contrary, the license granted under this Agreement for such Patent shall immediately terminate. 

 

	2.	LICENSE GRANT TO PURCHASER 

  

	 	2.1.	LICENSED INTELLECTUAL PROPERTY 

  

	 	(a)	As of the Closing Date and subject to the terms and conditions of this Agreement, Hynix hereby grants to Purchaser and its Subsidiaries a perpetual, worldwide,
paid-up, royalty-free, non-exclusive, non-transferable (except as permitted under Section 7.13 of this Agreement) right and personal license under and to the Hynix Licensed Intellectual Property to (i) with respect to the Hynix Licensed Intellectual
Property which are Patents related or directed to semiconductor products or their method of manufacture (“Product Patents”), design, develop, manufacture, have 

  

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 manufactured, make, have made, use, lease, offer for sale, sell, export and import, package, modify or
otherwise dispose of (A) any semiconductor product(s) other than Memory Products, and/or (B) Memory Products which Purchaser manufactures for Hynix and/or any Subsidiary(ies) of Hynix, (ii) copy, have copied, use or have used any other manufacturing
technology included in the Hynix Licensed Intellectual Property to design, develop, manufacture, have manufactured, make or have made, package or modify (A) any semiconductor product(s) other than Memory Products, and/or (B) Memory Products which
Purchaser manufactures for Hynix and/or any Subsidiary(ies) of Hynix; and (iii) with respect to Hynix Licensed Intellectual Property which are not Products Patents or other manufacturing technology, to copy and use such Hynix Licensed Intellectual
Property, and to create derivative works thereof and copy and use such derivative works, in the conduct of its business; provided, however, that with respect to softwares which are Hynix Licensed Intellectual Property, the license granted hereunder
shall be limited to such softwares existing as of the Closing Date and which are used or have been used in the Business on or prior to the Closing Date. For the avoidance of doubt and without limiting the foregoing sentence, the Parties agree that
the license granted hereunder shall include the following softwares: ADMS, IP Web, Legal System and EGGS (Employee/Officer General Supporting System). In addition, for the avoidance of doubt, and notwithstanding the foregoing or
any other provision to the contrary, Purchaser shall have the right to create any improvements, developments, enhancements, modifications, and/or derivative works to the Hynix Licensed Intellectual Property. 
  

	 	(b)	Notwithstanding the foregoing or any other provision of this Agreement to the contrary, nothing in this Section 2.1 shall be interpreted to allow Purchaser or any Subsidiary of
Purchaser to, directly or indirectly, take any action that would violate the covenant not to compete in Section 6.4 of the Business Transfer Agreement. 

  

	 	2.2.	SOFTWARE 

  
 As of the Closing Date and subject to the terms and conditions of this Agreement, Hynix hereby agrees to transfer to Purchaser, with respect to each commercial and custom software application, (a) with respect to the
software applications on Schedule 2.2, that number of software licenses (that is, individual installations or usage rights) as is listed on Schedule 2.2 and (b) with respect to all other software applications, a number of software licenses equal to
the number used by the Business as of the Closing Date; provided, however, that the on-going costs and expenses related to such software applications accrued after the Closing Date will be borne solely by Purchaser. 
  

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	 	2.3.	HYNIX REGISTERED USER REQUIREMENTS 

  
 Hynix may, on behalf of both Parties and at its expense, take such action, in its sole discretion, that it deems necessary or desirable with respect to
compliance with registered user or similar filing requirements of, or to otherwise cause the license granted by Hynix under this Agreement to be registered with, the appropriate authorities of the government of any jurisdiction. In addition, Hynix
shall, on behalf of both Parties, take such other requested action with respect to compliance with registered user or similar filing requirements of, or to otherwise cause the license granted by Hynix under this Agreement to be registered with, the
appropriate authorities of the government of any jurisdiction upon, the reasonable request of Purchaser and at Purchaser’s expense. 
  

	 	2.4.	HYNIX OBLIGATIONS REGARDING PROSECUTION AND MAINTENANCE OF PATENTS AND ABANDONMENT 

  
 Hynix shall have no obligation to Purchaser with respect to the prosecution or injunction of any infringement, violation,
misappropriation and/or interference by third parties with respect to the Hynix Licensed Intellectual Property or any associated intellectual property rights. For Patents that are abandoned as permitted in Section 1.2, Hynix shall have no further
obligation to Purchaser with respect to such Patents after the abandonment of such Patents. 
  

	3.	LICENSE GRANT TO HYNIX 

  

	 	3.1.	LICENSE GRANT 

  

	 	(a)	As of the Closing Date and subject to the terms and conditions of this Agreement, Purchaser hereby grants to Hynix and its Subsidiaries a perpetual, worldwide,
paid-up, royalty-free, non-exclusive, non-transferable (except as permitted under Section 7.13 of this Agreement) right and personal license under and to the Purchaser Licensed Intellectual Property to (i) with respect to the Purchaser Licensed
Intellectual Property which are Product Patents, design, develop, manufacture, have manufactured, make, have made, use, lease, offer for sale, sell, export and import, package, modify or otherwise dispose of any semiconductor product(s), (ii) copy,
have copied, use or have used any other manufacturing technology included in the Purchaser Licensed Intellectual Property to design, develop, manufacture, have manufactured, make or have made, package or modify any semiconductor product(s), and
(iii) with respect to Purchaser Licensed Intellectual Property which are not Product Patents or other manufacturing technology; to copy and use such Purchaser Licensed Intellectual Property, and to create derivative works thereof and copy and use
such derivative works, in the conduct of its business. For the avoidance of doubt, and notwithstanding the foregoing or any other provision to the contrary, Hynix shall have the right to create any improvements, developments, enhancements,
modifications, and/or derivative works to the Purchaser Licensed Intellectual Property. 

  

	 	(b)	Notwithstanding the foregoing, nothing in this Agreement shall be interpreted to allow Hynix and/or any Hynix Subsidiary(ies) to directly or indirectly, take any action that would
violate the covenant not to compete in Section 6.4 of the Business Transfer Agreement. 

  

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	 	(c)	Purchaser agrees that its and its Subsidiaries’ rights to the Purchaser ‘022 Patents’ will be subject to all licenses Hynix has granted to third parties which were in
effect as of June 12, 2004. In addition, in connection with claims against Hynix with respect to the infringement, violation or misappropriation of and/or interference with the intellectual property rights of a third party, Hynix shall have the
right to sub-license to such third party its rights with respect to the Purchaser ‘022 Patents’ under this Agreement. 

  

	 	3.2.	PURCHASER REGISTERED USER REQUIREMENTS 

  
 Purchaser may, on behalf of both Parties and at its expense, take such action, in its sole discretion, that it deems necessary or desirable with respect
to compliance with registered user or similar filing requirements of, or to otherwise cause the license granted by Purchaser under this Agreement to be registered with, the appropriate authorities of the government of any jurisdiction. In addition,
Purchaser shall, on behalf of both Parties, take such other requested action with respect to compliance with registered user or similar filing requirements of, or to otherwise cause the license granted by Purchaser under this Agreement to be
registered with, the appropriate authorities of the government of any jurisdiction, upon the reasonable request of Hynix and at Hynix’s expense. 
  

	 	3.3.	PURCHASER OBLIGATIONS REGARDING PROSECUTION AND MAINTENANCE OF PATENTS 

  
 Purchaser shall have no obligation to Seller with respect to the prosecution or injunction of any infringement, violation, misappropriation and/or
interference by third parties with respect to the Purchaser Licensed Intellectual Property or any associated intellectual property rights. For Patents that are abandoned as permitted in Section 1.5, Purchaser shall have no further obligation to
Hynix with respect to such Patents after the abandonment of such Patents. 
  

	4.	RIGHT TO SUBLICENSE; NO IMPLIED LICENSES; INTELLECTUAL PROPERTY RIGHTS NOTICES 

  

	 	4.1.	Notwithstanding any provision to the contrary, subject to Section 6.4 of the Business Transfer Agreement, each Party shall have the right to sublicense the license rights granted to
it under this Agreement, for the sole purpose of having, in the case of Hynix, its Subsidiaries, or its agents and contractors, exercise its rights hereunder solely on its behalf to make, manufacture, design, develop or package any semiconductor
products for Hynix; or in the case of Purchaser, Warrant Issuer’s Subsidiaries, or its agents and contractors exercise its rights hereunder solely on its behalf to make, manufacture, design, develop or package any semiconductor products (other
than Memory Products) for Purchaser or any 

  

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 Memory Products for Hynix and/or any Subsidiary(ies) of Hynix. Notwithstanding the forgoing, neither
Party shall sublicense the license rights granted to it under this Agreement to any direct or indirect Subsidiary of Warrant Issuer or Hynix, as the case may be, which at the time such Subsidiary became a direct or indirect Subsidiary of Warrant
Issuer or Hynix, as the case may be, was actively operating a technology business (including a semiconductor business). In no event shall Hynix’s Subsidiaries, or its agents and/or contractors, or the Warrant Issuer’s Subsidiaries, or
Purchaser’s agents and/or contractors, make, manufacture, design, develop or package any products under this sublicense for, and/or sell any products made under this sublicense to, any party other than Hynix and/or any Subsidiary of Hynix or
Purchaser and/or any Subsidiary(ies) of the Warrant Issuer, as the case may be. 
  

	 	4.2.	NO IMPLIED LICENSE 

  
 Except for the licenses expressly granted in this Agreement, neither Party grants to the other Party by implication, estoppel or otherwise any license or
other right to any of its Intellectual Property. In addition, neither Party grants any license, release or other right expressly, by implication, by estoppel or otherwise to any third party. 
  

	 	4.3.	INTELLECTUAL PROPERTY RIGHTS NOTICES 

  
 Each Party agrees that, unless otherwise agreed by the Parties in writing, it will not obfuscate, remove or alter any of the trademarks, trade names,
logos, patent, mask work or copyright notices, confidential or other proprietary legends or notices on or in the materials to which it is granted a license, and all such markings shall be included in all copies made by such Party of any portion of
the materials to which it is granted a license hereunder. 
  

	5.	CONFIDENTIALITY 

  
 Each Party shall protect the other’s Confidential Information from unauthorized dissemination and use with the same degree of care that such Party
uses to protect its own like information, but not less than reasonable care. Neither Party will use the other’s Confidential Information except as permitted by the licenses hereunder or for purposes other than those necessary to directly
further the purposes of this Agreement. Notwithstanding the foregoing or any other provision of this Agreement to the contrary, each Party shall only have the right to sublicense the Intellectual Property to which it is granted a license hereunder,
subject to Section 4.1 and pursuant to the following: (i) with respect to a sublicense to a Subsidiary, to a Subsidiary which, prior to accessing any of the licensed Intellectual Property, is legally bound to the terms of an appropriate
confidentiality agreement containing limitations no less restrictive than those set forth in Sections 2.1 and/or 3.1, as applicable, 4.3 and 5 of this Agreement and otherwise adequately protects the intellectual property rights of licensor in the
Intellectual Property and who uses the Intellectual Property solely in accordance with the terms and conditions of this Agreement; and/or (ii) with respect to any third party agent and/or contractor, to a 
  

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 third party agent and/or contractor with a need to know who is hired by the party to whom a license to
the applicable Intellectual Property has been granted hereunder, who uses the applicable Intellectual Property solely for the benefit of the applicable licensee hereunder, and who, prior to accessing any of the licensed Intellectual Property, has
signed an appropriate confidentiality agreement, which agreement contains provisions no less restrictive than those set forth in Sections 2.1 and/or 3.1, as applicable, 4.3 and 5 of this Agreement and otherwise adequately protects the intellectual
property rights of licensor in the Intellectual Property and who uses the Intellectual Property solely in accordance with the terms and conditions of this Agreement. Except as permitted by the licenses hereunder or as required by law or order of any
governmental authority (provided that such disclosure will be done under reasonable steps to protect confidentiality, such as a protective order), neither Party will disclose to any third parties the other’s Confidential Information without the
prior written consent of the other Party. Except as expressly provided in this Agreement, no ownership or license right is granted in any Confidential Information. The Parties’ obligations of confidentiality under this Agreement shall not be
construed to limit either Party’s right to independently develop or acquire products without use of, or reference to, the other Party’s Confidential Information. The confidentiality obligations of the Parties under this Agreement shall
terminate with respect to any specific Confidential Information five (5) years from the date of receipt thereof. 
  
 Each Party agrees not to disclose the content or nature of this Agreement to any third party without the prior written consent of the other Party;
provided, however, that this obligation shall not apply to a Party (i) to the extent such Party is required by law or order of any governmental authority (provided that such Party takes reasonable steps to protect the confidentiality of such
information, such as a protective order) to disclose this Agreement, but only to the extent necessary to comply with such law or order; (ii) to the extent necessary for such Party to enforce or exercise its rights under this Agreement, (iii) to the
extent reasonably necessary and on a confidential basis, to its accountants, attorneys, financial advisers and potential investors in or acquirers of such Party or (iv) with respect to such Party’s disclosure and public filing of this Agreement
(and its terms and conditions) in connection with a public offering of securities by such Party or its Affiliates. 
  

	6.	DISCLAIMERS 

  
 EXCEPT AS EXPRESSLY PROVIDED IN THE BUSINESS TRANSFER AGREEMENT, THE HYNIX LICENSED INTELLECTUAL PROPERTY IS PROVIDED “AS IS” WITHOUT ANY REPRESENTATION OR WARRANTY AND HYNIX MAKES NO, AND EXPRESSLY
DISCLAIMS ANY AND ALL OTHER REPRESENTATIONS AND WARRANTIES, WHETHER EXPRESS OR IMPLIED OR STATUTORY, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, WITH RESPECT TO THE SUBJECT MATTER OF
THIS AGREEMENT. EXCEPT AS EXPRESSLY PROVIDED IN THE BUSINESS TRANSFER AGREEMENT, THE PURCHASER LICENSED INTELLECTUAL PROPERTY IS PROVIDED “AS IS” WITHOUT ANY REPRESENTATION OR 
  

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 WARRANTY AND PURCHASER MAKES NO, AND EXPRESSLY DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES,
WHETHER EXPRESS OR IMPLIED OR STATUTORY, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT. 
  

	7.	GENERAL 

  

	 	7.1.	TERM AND TERMINATION 

  
 The term of this Agreement shall become effective as of the Closing Date and shall continue to be effective until terminated by mutual agreement of the
Parties, provided that this Agreement and all licenses hereunder may be earlier terminated by either Party if the other Party materially breaches any of the terms and conditions of this Agreement and fails to remedy such breach within 60 days after
written notice thereof. 
  

	 	7.2.	RELATIONSHIP OF THE PARTIES 

  
 This Agreement does not create a fiduciary or agency relationship between Hynix and Purchaser, each of which shall be and at all times remain independent
companies for all purposes hereunder. Nothing in this Agreement is intended to make either Party a general or special agent, joint venturer, partner or employee of the other for any purpose. 
  

	 	7.3.	COUNTERPARTS 

  
 This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when
one or more counterparts have been signed by each of the Parties and delivered to the other Party. 
  

	 	7.4.	GOVERNING LAW; CONSENT TO JURISDICTION 

  
 This Agreement shall be governed by and construed in accordance with the Laws of the Korea without giving effect to the rules of conflict of laws of the
Korea that would require application of any other Law. Purchaser and Hynix each consent to and hereby submit to the non-exclusive jurisdiction of the Seoul Central District Court located in the Korea in connection with any action, suit or proceeding
arising out of or relating to this Agreement, and each of the Parties irrevocably waives, to the fullest extent permitted by Law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a
court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum. 
  

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	 	7.5.	ENTIRE AGREEMENT 

  
 This Agreement and the Business Transfer Agreement constitute the entire agreement between the Parties with respect to the subject matter hereof, and
supersede any prior agreements, understandings or other communications, written or oral, between the Parties with respect to the subject matter hereof, and there are no agreements, understandings, representations or warranties between the Parties
with respect to the subject matter hereof other than those set forth herein or the Business Transfer Agreement. 
  

	 	7.6.	NO THIRD-PARTY BENEFICIARIES 

  
 Nothing in this Agreement, express or implied, is intended to or shall confer on any Person other than the Parties and their respective successors or
permitted assigns any rights (including third party beneficiary rights), remedies, obligations or liabilities under or by reason of this Agreement. This Agreement shall not provide third parties with any remedy, claim, liability, reimbursement,
cause of action or other right in excess of those existing without reference to the terms of this Agreement. 
  

	 	7.7.	INTERPRETATION; ABSENCE OF PRESUMPTION 

  

	 	(a)	For the purposes hereof, (i) words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other gender as the
context requires, (ii) the terms “hereof,” “herein,” and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular provision of
this Agreement, and Article, Section and paragraph references are to the Articles, Sections and paragraphs to this Agreement unless otherwise specified, (iii) the word “including” and words of similar import when used in this Agreement
means “including, without limitation,” unless the context otherwise requires or unless otherwise specified, (iv) the word “or” shall not be exclusive, (v) provisions shall apply, when appropriate, to successive events and
transactions, and (vi) all references to any period of days shall be deemed to be to the relevant number of calendar days. 

  

	 	(b)	This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be
drafted. 

  

	 	7.8.	FORCE MAJEURE 

  
 A Party shall not be liable for a failure or delay in the performance of any of its obligations under this Agreement where such failure or delay is the
result of conditions beyond the control of said Party, such as fire, flood, or other natural disaster, act of God, war, embargo, riot, labor dispute, or the intervention of any government authority, providing that the Party failing in or delaying
its performance immediately notifies the other Party of its inability to perform and states the reason for such inability. 
  

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	 	7.9.	PUBLICITY 

  
 Neither Party shall, without the approval of the other Party, make any press release or other public announcement concerning the terms of the transactions contemplated by this Agreement, except as allowed under
Section 5. 
  

	 	7.10.	FURTHER ASSURANCES 

  
 Each Party shall cooperate and take such action as may be reasonably requested by the other Party in order to carry out the provisions and purposes of
this Agreement and the transactions contemplated hereby. 
  

	 	7.11.	EXPORT CONTROL 

  
 The Parties shall comply with any and all export regulations and rules now in effect or as may be issued from time to time by the Office of Export
Administration of the United States Department of Commerce, Korean governmental authority, or any other governmental authority which has jurisdiction relating to the export of technology. 
  

	 	7.12.	NOTICES 

  
 Any notice, request, demand, waiver, consent, approval or other communication which is required or permitted to be given to any Party hereunder shall be in writing and shall be deemed duly given only upon delivery to
the Party personally (including by reputable overnight courier service), when telecopied (with confirmation of transmission having been received) during normal business hours or three days after being mailed by registered or certified mail (return
receipt requested), with postage and registration or certification fees thereon prepaid, addressed to the Party at its address set forth below (or at such other address for a Party as shall be specified by such Party by like notice): 
  

	
	 If to Purchaser:

	
	 MagnaChip Semiconductor, Ltd.

	 Hyangjeong-dong

	 Heungduk-gu

	 Cheongju City

	 Chung Cheong Bok-do

	 Korea

	 Fax: +82-43-270-2134

	 Attention: Dr. Youm Huh

  

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	 with a copy to:

	
	 Dechert LLP

	 4000 Bell Atlantic Tower

	 1717 Arch Street

	 Philadelphia, PA 19103

	 Fax: 215-994-2222

	 Attention: Geraldine A. Sinatra, Esq.

	
	 and

	
	 Dechert LLP

	 30 Rockefeller Plaza

	 New York, NY 10112

	 Fax: (212) 698-3599

	 Attention: Sang H. Park, Esq.

	
	 If to Hynix:

	
	 Hynix Semiconductor Inc.

	 Hynix Youngdong Bldg 891

	 Daechi-dong

	 Kangnam-gu, Seoul 135-738

	 Korea

	 Fax: 82-2-3459-3555

	 Attention: Mr. Dong Soo Chung

	
	 with a copy to:

	
	 Bae, Kim & Lee

	 647-15 Yoksam-dong

	 Kangnam-gu, Seoul 135-738

	 Korea

	 Fax: +82 2 3404 0803

	 Attention: Gun Chul Do, Esq.

	
	 with a copy to:

	
	 Sullivan & Cromwell LLP

	 1888 Century Park East

	 Los Angeles, CA 90067

	 Fax: (310) 712-8800

	 Attention: Alison S. Ressler, Esq.

  

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	 	7.13.	ASSIGNMENT 

  
 This Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns; provided, however, that no Party may assign its rights or delegate its obligations
under this Agreement (including by operation of law and provided that a change in control with respect to Hynix or Purchaser shall be deemed an assignment for purposes of this Agreement) without the express prior written consent of each other Party,
except that (i) Purchaser may assign its rights hereunder as collateral security to any entity providing financing of indebtedness for borrowed money to Purchaser and/or any of its Subsidiaries and any such financial institutions may assign such
rights in connection with a sale of Purchaser, (ii) Hynix and Purchaser each may, upon written notice to the other party (but without the obligation to obtain the consent of such other party), assign this Agreement or any of its rights and
obligations under this Agreement to any person, entity or organization that acquires all or substantially all of its assets and liabilities or all or substantially all of the assets and liabilities of the portion of the Party’s business to
which the subject of this Agreement relates or of a division of such Party as a result of a change in control (provided that upon any such assignment or change in control the applicable license granted hereunder shall not extend to the business or
products of the assignee or acquiring entity as conducted as of the date of such assignment or acquisition), if such person or entity agrees in writing to assume and be bound by all of the relevant obligations of such party under this Agreement; and
(iii) Purchaser may, upon written notice to Hynix (but without the obligation to obtain the consent of Hynix), assign this Agreement or any of its rights and obligations under this Agreement to one or more direct or indirect Subsidiaries of Warrant
Issuer, provided that at the time such Subsidiary became a direct or indirect Subsidiary of Warrant Issuer it was not actively operating a technology business (including a semiconductor business). 
  

	 	7.14.	HEADINGS; DEFINITIONS 

  
 The section and article headings contained in this Agreement are inserted for convenience of reference only and will not affect the meaning or
interpretation of this Agreement. 
  

	 	7.15.	AMENDMENT 

  
 This Agreement may not be amended, modified, superseded, canceled, renewed or extended except by a written instrument signed by the Party to be charged therewith. 
  

	 	7.16.	WAIVER; EFFECT OF WAIVER 

  
 No provision of this Agreement may be waived except by a written instrument signed by the Party waiving compliance. No waiver by any Party of any of the
requirements hereof or of any of such Party’s rights hereunder shall release the other Parties from full performance of their remaining obligations stated herein. No failure to exercise or delay in exercising on the part of any Party hereto any

  

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 right, power or privilege of such Party shall operate as a waiver thereof, nor shall any single or
partial exercise of any right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege by such Party. 
  

	 	7.17.	SPECIFIC PERFORMANCE; INJUNCTIVE RELIEF 

  
 The Parties each acknowledge that, in view of the uniqueness of the subject matter hereof, the Parties would not have an adequate remedy at law for money
damages in the event that this Agreement were not performed in accordance with its terms, and therefore agree that the Parties shall have the right to a claim for injunctive relief and be entitled to specific enforcement of the terms hereof in
addition to any other remedy to which the Parties may be entitled at law or in equity. 
  

	 	7.18.	SURVIVAL 

  
 The respective rights and obligations of the Parties under Sections 5, 6, 7, and other Sections which by their nature are intended to extend beyond termination, shall survive the termination of this Agreement.

  
 [SIGNATURE PAGE TO FOLLOW] 
  

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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed on their behalf as of the
date first written above. 
  

			
	HYNIX SEMICONDUCTOR INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	MAGNACHIP SEMICONDUCTOR, LTD.
		
	By	 	  

	Name:	 	 
	Title:Trademark License Agreement Dated as of October 6, 2004

 Exhibit 10.8 
  
 Execution Copy 
  
 Trademark License Agreement 
  
 This Trademark License Agreement (“Agreement”) is made and entered into this 6 day of October, 2004, by and among MagnaChip Semiconductor, Ltd.,
a company organized and existing under the Laws of the Republic of Korea (“Korea”), with offices at 1, Hyangjeong-dong, Heungduk-gu, Cheongju-si, Chungcheongbuk-do, Korea (“Purchaser”), and Hynix Semiconductor Inc., a corporation
organized under the Laws of the Republic of Korea, with offices at San 136-1, Ami-Ri, Bubal-Eub, Ichon-Si. Kyoungki-Do, Korea (“Hynix”). Either Purchaser or Hynix may be referred to herein as a “Party” or together as the
“Parties,” as the case may require. 
  
 RECITALS

  
 WHEREAS, Purchaser and Hynix have entered into a certain
Business Transfer Agreement, dated as of June 12, 2004, as amended (the “Business Transfer Agreement”) pursuant to which Purchaser will acquire all of the Acquired Assets and assume all of the Assumed Liabilities upon the terms and
conditions set forth in the Business Transfer Agreement; 
  
 WHEREAS, pursuant to the Business Transfer Agreement, Hynix has agreed to grant to Purchaser a license for the use of the Hynix Trademarks; and 
  
 WHEREAS, the execution and delivery of this Agreement is required by the Business Transfer Agreement and is a condition to the closing of the transactions
contemplated thereunder. 
  
 NOW, THEREFORE, in consideration of
the promises and the mutual covenants and undertakings contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties, intending to be legally bound hereby, do agree as
follows: 
  

	1.	DEFINITIONS 

  
 Capitalized terms used herein shall have the meanings ascribed to such terms in the Business Transfer Agreement unless otherwise defined herein or as set forth below. 
  

	 	1.1.	“Business Products” means Solution Products, Specialty Products and/or derivatives of the foregoing. 

  

	 	1.2.	“Business Product Codes” means those of the product or part identification codes adopted by Hynix for any Business Product, Die, and/or Device, as applicable, as of the
Closing Date prior to giving effect to the transactions contemplated under the Business Transfer Agreement, the ownership of which were not transferred to Purchaser pursuant to the terms of the Business Transfer Agreement. 

 
  

	 	1.3.	“Device” means one or more Dies that are either (i) incorporated into a Package or (ii) packaged together but not placed into a Package. 

  

	 	1.4.	“Die” means a Business Product prior to its incorporation into a Package or Device. 

  

	 	1.5.	“Hynix Trademark” means any trademarks, service marks, trade names, logotypes, slogans, and trade dress associated therewith, and applications for the foregoing, owned or
controlled by Hynix, a Subsidiary of Hynix and/or any third party (to the extent permitted under the license from such third party) and used with or embedded on Masks, Business Products, Dies, Devices, Packages, Printed Materials, and/or Packaging,
as of the Closing Date, including without limitation, “Hynix”, “HEI”, and “Hyundai”. 

  

	 	1.6.	“Masks” means the masks used by the Business in the manufacture of Dies which include Hynix Trademarks. The Masks, when used to manufacture Dies, will form an image of
Hynix Trademarks in various layers that form the semiconductor circuits in Dies. 

  

	 	1.7.	“Package” means a specific type of an enclosure for encompassing one or more Die(s), including electrical contacts thereto. 

  

	 	1.8.	“Packaging” means containers, boxes, tubes, and the like used to ship the Business Products. 

  

	 	1.9.	“Printed Material” means brochures, manuals, data books and other sales and marketing information used in the sale or for marketing of the Business Products.

  

	2.	LICENSE 

  
 Subject to the terms and conditions of this Agreement: 
  

	 	2.1.	HYNIX TRADEMARKS 

  
 As of the Closing Date and subject to the terms of this Agreement, Hynix hereby grants to Purchaser a worldwide, paid-up,
royalty-free, non-exclusive, non-transferable (except as permitted under Section 7.11 of this Agreement) right and personal license under and to the Hynix Trademarks to use the Hynix Trademarks (a) to manufacture Business Products, Dies and/or
Devices by using the Masks and/or Packages existing as of the Closing Date; and/or (b) to the extent Hynix Trademarks are used or embedded in any Business Products, Dies, Devices, Packages, Printed Materials and/or Packaging, and with respect to any
inventory of the Business as of the Closing Date using the Hynix Trademarks, to market and sell Business Products, Dies and/or Devices manufactured pursuant to subitem (a) of this sentence or in the inventory of the Business as of the Closing Date,
with such right and license to continue for a period of three years from the Closing Date (the “License Term”); provided that Hynix will permit 
  

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 Purchaser to continue to use the Hynix Trademarks used or embedded in any Business Products, Dies,
Devices, Packages, Printed Materials and/or Packaging that were manufactured by using the Masks and/or Packages existing as of the Closing Date or were in the inventory of the Business as of the Closing Date if and during such time as Purchaser can
demonstrate a need for such extension of the License Term. The license above shall also apply to the use of replacement Masks so long as (i) Purchaser demonstrates with documentary evidence that it is required to requalify the applicable Business
Product, Die and/or Device with any customer who previously qualified such Business Product, Die and/or Device if such license did not apply to replacement Masks and (ii) Purchaser uses commercially reasonable efforts to avoid requalification of the
applicable Business Product, Die and/or Device with any customer who previously qualified such Business Product, Die and/or Device if such license did not apply to replacement Masks; provided, further, that Purchaser agrees to discontinue the use of
Hynix Trademarks on the Masks and to replace them with Purchaser’s own trademarks and/or identification thereon with respect to any Business Product, Die and/or Device, at such time as the applicable Business Product, Die and/or Device has been
requalified with all customers who previously qualified such Business Product, Die and/or Device. 
  

	 	2.2.	BUSINESS PRODUCT CODES 

  
 As of the Closing Date and subject to the terms of this Agreement, Hynix hereby grants to Purchaser a perpetual, worldwide, paid-up,
royalty-free, non-exclusive, non-transferable (except as permitted under Section 7.11 of this Agreement) right and personal license under and to the Business Product Codes to use such Business Product Codes (a) in relation to the manufacture,
marketing and sale of the Masks, Business Products, Dies, Devices and/or Packages and/or (b) to create Masks, Packages and/or Packaging for the Business Products, Dies and/or Devices. 
  

	 	2.3.	INVENTORY 

  
 It is understood that in the event the Hynix Trademarks and/or Business Product Codes are included on finished Business Products, Dies, Devices, Packages and/or Packaging in the inventory of the Business as of the
Closing Date, such completed Business Products, Dies and/or Devices may be resold by Purchaser (and such Packages and Packaging used in connection with Business Products, Dies and/or Devices) with such Hynix Trademarks and/or Business Product Codes,
as applicable, thereon for the License Term. 
  

	 	2.4.	PRINTED MATERIALS 

  
 It is understood that, as of the Closing Date and subject to the terms of this Agreement, as to Printed Materials which exist as of the Closing Date, in
the event the Hynix Trademarks and/or Business Product Codes are included on such Printed Materials, Hynix hereby grants to Purchaser a worldwide, paid-up, royalty-free, non-transferable (except as permitted under Section 7.11
of this Agreement), right and personal license to use such 
  

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 Hynix Trademarks and/or Business Product Codes in connection with the depletion of such Printed
Materials, with the Hynix Trademarks and/or Business Product Codes on them, in connection with Purchaser’s marketing and sales activities for the Business Products, Dies and/or Devices in the inventory of the Business as of the Closing Date,
for the License Term. As soon as commercially reasonable, but in any event within twelve months after the Closing Date, Purchaser shall cease using the Hynix Trademarks on any and all Printed Materials that are used for such marketing and sales
activities of Purchaser. 
  

	 	2.5.	MANUFACTURER IDENTIFICATION 

  
 Notwithstanding anything to the contrary in this Agreement, Purchaser shall take reasonable measures to assure and implement, through date coding or some
other methods mutually agreed by the Parties, identification on the Business Products, Dies, Devices, Packages, Packaging and Printed Materials to avoid confusion by any third parties in determining whether such Business Products, Dies and/or
Devices, as applicable, were made by Purchaser or Hynix when using Hynix Trademarks. As soon as commercially reasonable, but in any event within twelve months after the Closing Date, Purchaser shall cause the Purchaser’s name as manufacturer or
supplier to appear on the Printed Materials and the Packaging of all Business Products, Dies and/or Devices in a manner that clearly identifies Purchaser as such. 
  

	 	2.6.	RIGHT TO SUBLICENSE 

  
 Notwithstanding any provision to the contrary, subject to Section 6.4 of the Business Transfer Agreement, Purchaser shall have the right to sublicense the
license and other rights of use granted under this Agreement for the sole purpose of having Warrant Issuer’s Subsidiaries, and/or Purchaser’s agents and/or contractors, exercise its rights hereunder solely on its behalf to make,
manufacture, design, develop or package any semiconductor products (other than Memory Products) for Purchaser or any Memory Products for Hynix and/or any Subsidiary(ies) of Hynix. In no event shall Warrant Issuer’s Subsidiaries, or
Purchaser’s agents or contractors, make, manufacture, design, develop or package any products under this sublicense for, and/or sell any products made under this sublicense to, any party other than Purchaser and/or any Subsidiary(ies) of
Warrant Issuer. 
  

	 	2.7.	NO OTHER LICENSE 

  
 Except for the license for the use of, and other rights of use of, the Hynix Trademarks and Business Product Codes expressly granted in Sections 2.1, 2.2,
2.3, 2.4 and 2.6 above, no license right whatsoever is granted to Purchaser or any of its Subsidiaries directly or indirectly pursuant to this Agreement, including any license to use the trade name of Hynix. 
  

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	 	2.8.	REGISTERED USER REQUIREMENTS 

  
 Hynix may, on behalf of both Parties and at its expense, take such action, in its sole discretion, that it deems necessary or desirable with respect to
compliance with registered user or similar filing requirements of, or to otherwise cause the license and other rights of use granted under this Agreement to be registered with, the appropriate authorities of the government of any jurisdiction. In
addition, Hynix shall, on behalf of both Parties, take such other requested action with respect to compliance with registered user or similar filing requirements of, or to otherwise cause the license and other rights of use granted under this
Agreement to be registered with, the appropriate authorities of the government of any jurisdiction upon the reasonable request of Purchaser and at Purchaser’s expense. 
  

	 	2.9.	MAINTENANCE OF MARKS 

  
 Hynix shall have no obligation to Purchaser with respect to the prosecution or injunction of any infringement, violation, and/or interference by third
parties with respect to the Hynix Trademarks. 
  

	3.	OWNERSHIP AND COMPLIANCE 

  

	 	3.1.	Purchaser acknowledges Hynix’s claim that the Hynix Trademarks and the Business Product Codes are the exclusive and sole property of Hynix, that Hynix will retain full
ownership of the Hynix Trademarks and the Business Product Codes, and all rights appurtenant thereto except for the rights granted hereunder, and that all use of the Hynix Trademarks and the Business Product Codes by Purchaser shall inure to the
sole benefit of Hynix. 

  

	 	3.2.	Purchaser agrees not to adopt or use any other mark, logo or identification that is confusingly similar to the Hynix Trademarks. 

  

	 	3.3.	Purchaser agrees that it shall use its reasonable efforts to avoid endangering the validity of Hynix Trademarks including complying with all laws and regulations of all countries
where its products are sold. Should Purchaser become aware that the compliance with the laws or regulations of the country result in the potential dilution or loss of trade name or trademarks of Hynix in the Hynix Trademarks, Purchaser shall
promptly notify Hynix of the same and Purchaser shall take such actions as may be reasonably requested by Hynix from time to time to preserve the validity of the Hynix Trademarks. 

  

	 	3.4.	Purchaser agrees that it shall comply with commercially reasonable trademark usage guidelines of Hynix provided to Purchaser from time to time, provided that such guidelines are in
writing and are applicable to all third-party users of Hynix’s trademarks. 

  

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	 	3.5.	Purchaser shall use its commercially reasonable efforts to destroy, or alter to remove or obscure from view any Hynix Trademark on, any and all remaining Business Products, Dies
and/or Devices, Inventory or Printed Materials, which make use of any Hynix Trademarks, promptly after the License Term and any other period during which Purchaser is entitled to use the Hynix Trademarks pursuant to the terms of this Agreement and
shall provide a certificate confirming such destruction or alteration executed by a duly authorized representative of Purchaser. 

  

	 	3.6.	Purchaser shall not, in using any of the Hynix Trademarks, Business Product Codes and Printed Materials hereunder, carry out any business activities in the name of Hynix or in any
manner that by law would be deemed to mislead or deceive others to believe that such is the case. 

  

	 	3.7.	Purchaser shall not apply for registration of the Hynix Trademarks in whole or in part or other trademarks that are confusingly similar thereto, or cause such application for
registration to be made, in any country with respect to the Business Products, Dies and/or Devices, Packages, Printed Materials and/or Packaging. 

  

	4.	QUALITY CONTROL 

  
 To protect the value of Hynix Trademarks, Hynix reserves the right to inspect the quality of the Business Products sold or disposed of by Purchaser under
the Hynix Trademarks for the purpose, among others, of ensuring that the quality of such Business Products is substantially at least equivalent to the Business Products being manufactured by Hynix as of the Closing Date and for the purpose of
maintaining in full force and effect Hynix’s rights to and in Hynix Trademarks under the applicable trademark laws. From time to time during normal business hours (but in no event more than one time per year) and in such manner so as not to
unreasonably disrupt Purchaser’s business, Hynix may send representatives to the plants of Purchaser to inspect and advise Purchaser with respect to Purchaser’s quality control of the Business Products. 
  

	5.	DISCLAIMERS; INDEMNIFICATION 

  

	 	5.1.	DISCLAIMER 

  
 EXCEPT AS EXPRESSLY PROVIDED IN THE BUSINESS TRANSFER AGREEMENT, HYNIX MAKES NO, AND EXPRESSLY DISCLAIMS ANY AND ALL, OTHER REPRESENTATIONS AND WARRANTIES, WHETHER EXPRESS OR IMPLIED OR STATUTORY, INCLUDING ANY
IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE SUBJECT MATTER OF 
  

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 THIS AGREEMENT. EXCEPT AS EXPRESSLY PROVIDED IN THE BUSINESS TRANSFER AGREEMENT, PURCHASER MAKES NO, AND
EXPRESSLY DISCLAIMS ANY AND ALL, REPRESENTATIONS AND WARRANTIES, WHETHER EXPRESS OR IMPLIED OR STATUTORY, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE SUBJECT MATTER OF THIS AGREEMENT.

  

	 	5.2.	INDEMNIFICATION 

  
 Purchaser agrees to indemnify, defend, and hold harmless Hynix and its directors and officers (the “Hynix Indemnified Parties”) with respect to
any claims, charges, or litigation by third parties against one or more Hynix Indemnified Party(ies) based upon (i) any breach of a covenant or agreement made by Purchaser under this Agreement; (ii) Purchaser’s use of the Hynix Trademarks
containing Hynix’s tradenames (including “Hynix”, “HEI” and “Hyundai”); (iii) the quality, safety, reliability, performance, or marketability of any of the Business Products manufactured by Purchaser and which
display and are marketed by Purchaser using Hynix Trademarks; or (iv) any injury to persons or property caused by the use of such Business Products to the extent such claims, charges or litigation against any Hynix Indemnified Parties result from or
are based on the use by Purchaser of the Hynix Trademarks. Notwithstanding the foregoing, Purchaser shall not be liable for any claims, charges, or litigation by third parties against one or more Hynix Indemnified Party(ies) based upon Hynix
Trademarks’ infringement on the rights of any third party. 
  

	6.	TERM AND TERMINATION 

  
 This Agreement shall terminate upon the expiration of the last to expire of any of the individual licenses hereunder, provided that this Agreement and all
licenses hereunder may be earlier terminated by Hynix if Purchaser materially breaches any of the terms and conditions of this Agreement and fails to remedy such breach within 60 days after written notice thereof. 
  

	7.	GENERAL 

  

	 	7.1.	RELATIONSHIP OF THE PARTIES 

  
 This Agreement does not create a fiduciary or agency relationship between Hynix and Purchaser, each of which shall be and at all times remain independent
companies for all purposes hereunder. Nothing in this Agreement is intended to make either Party a general or special agent, joint venturer, partner or employee of the other for any purpose. 
  

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	 	7.2.	COUNTERPARTS 

  
 This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement, and shall become effective when
one or more counterparts have been signed by each of the Parties and delivered to the other Party. 
  

	 	7.3.	GOVERNING LAW; CONSENT TO JURISDICTION 

  
 This Agreement shall be governed by and construed in accordance with the Laws of the Korea without giving effect to the rules of conflict of laws of the
Korea that would require application of any other law. Purchaser and Hynix each consent to and hereby submit to the non-exclusive jurisdiction of the Seoul Central District Court located in the Korea in connection with any action, suit or proceeding
arising out of or relating to this Agreement, and each of the Parties irrevocably waives, to the fullest extent permitted by Law, any objection which it may now or hereafter have to the laying of the venue of any such proceeding brought in such a
court and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum. 
  

	 	7.4.	ENTIRE AGREEMENT 

  
 This Agreement and the Business Transfer Agreement constitute the entire agreement between the Parties with respect to the subject matter hereof, and
supersede any prior agreements, understandings or other communications, written or oral, between the Parties with respect to the subject matter hereof, and there are no agreements, understandings, representations or warranties between the Parties
with respect to the subject matter hereof other than those set forth herein or the Business Transfer Agreement. 
  

	 	7.5.	NO THIRD-PARTY BENEFICIARIES 

  
 Nothing in this Agreement, express or implied, is intended to or shall confer on any Person other than the Parties hereto and their respective successors
or permitted assigns any rights (including third-party beneficiary rights), remedies, obligations or liabilities under or by reason of this Agreement. This Agreement shall not provide third parties with any remedy, claim, liability, reimbursement,
cause of action or other right in excess of those existing without reference to the terms of this Agreement. 
  

	 	7.6.	INTERPRETATION; ABSENCE OF PRESUMPTION 

  

	 	(a)	For the purposes hereof, (i) words in the singular shall be held to include the plural and vice versa and words of one gender shall be held to include the other gender as the
context requires, (ii) the terms “hereof,” “herein,” and “herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a 

  

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 whole and not to any particular provision of this Agreement, and Article, Section and paragraph
references are to the Articles, Sections and paragraphs to this Agreement unless otherwise specified, (iii) the word “including” and words of similar import when used in this Agreement means “including, without limitation,”
unless the context otherwise requires or unless otherwise specified, (iv) the word “or” shall not be exclusive, (v) provisions shall apply, when appropriate, to successive events and transactions, and (vi) all references to any period of
days shall be deemed to be to the relevant number of calendar days. 
  

	 	(b)	This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against the Party drafting or causing any instrument to be
drafted. 

  

	 	7.7.	FORCE MAJEURE 

  
 A Party shall not be liable for a failure or delay in the performance of any of its obligations under this Agreement where such failure or delay is the
result of conditions beyond the control of said Party, such as fire, flood, or other natural disaster, act of God, war, embargo, riot, labor dispute, or the intervention of any government authority, providing that the Party failing in or delaying
its performance immediately notifies the other Party of its inability to perform and states the reason for such inability. 
  

	 	7.8.	PUBLICITY 

  
 Neither Party shall, without the approval of the other Party, make any press release or other public announcement concerning the terms of the transactions contemplated by this Agreement, except as and to the extent
that any such Party shall be so obligated by Law or listing standards or pursuant to a lawful request of a government agency. 
  

	 	7.9.	FURTHER ASSURANCES 

  
 Each Party shall cooperate and take such action as may be reasonably requested by another Party in order to carry out the provisions and purposes of this
Agreement and the transactions contemplated hereby. 
  

	 	7.10.	NOTICES 

  
 Any notice, request, demand, waiver, consent, approval or other communication which is required or permitted to be given to any Party hereunder shall be in writing and shall be deemed duly given only upon delivery to
the Party personally (including by reputable overnight courier service), when telecopied (with confirmation of transmission having been received) during normal business hours 
  

 9 

 or three days after being mailed by registered or certified mail (return receipt requested), with postage
and registration or certification fees thereon prepaid, addressed to the Party at its address set forth below (or at such other address for a Party as shall be specified by such Party by like notice): 
  
 If to Purchaser: 
  
 MagnaChip Semiconductor, Ltd. 
 Hyangjeong-dong 
 Heungduk-gu 
 Cheongju City 
 Chung Cheong Bok-do 
 Korea 
 Fax: +82-43-270-2134 
 Attention: Dr. Youm Huh 
  
 with a copy to: 
  
 Dechert LLP 
 4000 Bell Atlantic Tower 
 1717 Arch Street 
 Philadelphia, PA 19103 
 Fax: 215-994-2222 
 Attention: Geraldine A. Sinatra, Esq. 
  
 and 
  
 Dechert LLP 
 30 Rockefeller Plaza 
 New York, NY 10112 
 Fax: (212) 698-3599 
 Attention: Sang H. Park, Esq. 
  
 If to Hynix: 
  
 Hynix Semiconductor Inc. 
 Hynix Youngdong Bldg 891 
 Daechi-dong 
 Kangnam-gu, Seoul 135-738 
 Korea 
 Fax: 82-2-3459-3555 
 Attention: Mr. Dong Soo Chung 
  

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 with a copy to: 
  
 Bae, Kim & Lee 
 647-15 Yoksam-dong 
 Kangnam-gu, Seoul 135-738 
 Korea 
 Fax: +82 2 3404 0803 
 Attention: Gun Chul Do, Esq. 
  
 with a copy to: 
  
 Sullivan & Cromwell LLP 
 1888 Century Park East 
 Los Angeles, CA 90067 
 Fax: (310) 712-8800 
 Attention: Alison S. Ressler, Esq. 
  

	 	7.11.	ASSIGNMENT 

  
 This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns; provided, however, that no Party may assign its rights or delegate its
obligations under this Agreement (including by operation of law and provided that a change in control with respect to Hynix or Purchaser shall be deemed an assignment for purposes of this Agreement) without the express prior written consent of the
other Party, except that (i) Purchaser may assign its rights hereunder as collateral security to any entity providing financing of indebtedness for borrowed money to Purchaser and/or any of its Subsidiaries and any such financial institutions may
assign such rights in connection with a sale of Purchaser, (ii) Hynix and Purchaser each may, upon written notice to the other Party (but without the obligation to obtain the consent of the other Party), assign this Agreement or any of its rights
and obligations under this Agreement to any person, entity or organization that acquires all or substantially all of its assets and liabilities or all or substantially all of the assets and liabilities of the portion of the Party’s business to
which the subject of this Agreement relates or of a division of such Party or as a result of a change in control (provided that upon any such assignment or change in control the applicable license granted hereunder shall not extend to the business
or products of the assignee or acquiring entity as conducted as of the date of such assignment or acquisition), if such person or entity agrees in writing to assume and be bound by all of the relevant obligations of such Party under this Agreement,
and (iii) Purchaser may, upon written notice to Hynix (but without the obligation to obtain the consent of Hynix), assign this Agreement or any of its rights and obligations under this Agreement to one or more direct or indirect Subsidiaries of
Warrant Issuer. 
  

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	 	7.12.	HEADINGS; DEFINITIONS 

  
 The section and article headings contained in this Agreement are inserted for convenience of reference only and will not affect the meaning or
interpretation of this Agreement. 
  

	 	7.13.	AMENDMENT 

  
 This Agreement may not be amended, modified, superseded, canceled, renewed or extended except by a written instrument signed by the Party to be charged therewith. 
  

	 	7.14.	WAIVER; EFFECT OF WAIVER 

  
 No provision of this Agreement may be waived except by a written instrument signed by the Party waiving compliance. No waiver by any Party of any of the
requirements hereof or of any of such Party’s rights hereunder shall release the other Party from full performance of their remaining obligations stated herein. No failure to exercise or delay in exercising on the part of any Party any right,
power or privilege of such Party shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege by
such Party. 
  

	 	7.15.	SPECIFIC PERFORMANCE; INJUNCTIVE RELIEF 

  
 The Parties each acknowledge that, in view of the uniqueness of the subject matter hereof, the Parties would not have an adequate remedy at law for money
damages in the event that this Agreement were not performed in accordance with its terms, and therefore agree that the Parties shall have the right to a claim for injunctive relief and be entitled to specific enforcement of the terms hereof in
addition to any other remedy to which the Parties may be entitled at law or in equity. 
  

	 	7.16.	SURVIVAL 

  
 The respective rights and obligations of the Parties under Articles 5, 6 and 7, and other Sections which by their nature are intended to extend beyond termination, shall survive the termination of this Agreement.

  

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 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed on their behalf as of the
date first written above. 
  

			
	HYNIX SEMICONDUCTOR INC.
		
	By	 	  

	Name:	 	 
	Title:	 	 
	
	MAGNACHIP SEMICONDUCTOR, LTD.
		
	By	 	  

	Name:	 	 
	Title:	 	 

  

 S-1

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