Document:

exv10w37

Exhibit 10.37

MAGNACHIP SEMICONDUCTOR LLC

NOTICE OF GRANT OF UNIT OPTION

[Non-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:

	 	Margaret Sakai
	 
	Date of Grant:

	 	December 8, 2009
	 
	Number of Option Units:

	 	336,000 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
	 
	Local Law:

	 	The laws, rules and regulations of
[Name of Country], of which the Participant is a resident.
	 
	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	 

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/ Margaret Sakai
	 
	 	 	 	 
	 

	 	 	 	Signature
	 
	Its:

	 	CEO & Chairman
	 	12.18.2009
	 
	 	 	 	 
	 

	 	 	 	Date
	Address:

	 	891 Daechi-dong,

Gangnam-gu Seoul, Korea
135-738
	 	 
	 	 	 	 
	 	 	 	Address
	 
	 
	 	 	 	 

			
	ATTACHMENTS:	 	2009 Common Unit Plan, as amended to the Date of Grant;
Option Agreement and Exercise Notice; and Operating Agreementexv10w38

Exhibit 10.38

MAGNACHIP SEMICONDUCTOR LLC

NOTICE OF GRANT OF RESTRICTED UNITS

[Non-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:

	 	Margaret Sakai
	 
	Date of Grant:

	 	December 8, 2009
	 
	Total Number of Units:

	 	336,000, 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
	 
	Local Law:

	 	The laws, rules and regulations of
[Name of Country], of
which the Participant is a resident. 
	 
	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 the Restricted Unit 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 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/ Margaret Sakai
	 
	 	 	 	 
	 

	 	 	 	Signature
	 
	Its:

	 	CEO & Chairman
	 	12.18.2009
	 
	 	 	 	 
	 

	 	 	 	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; and Operating Agreementexv10w39

Exhibit 10.39

	 	 	 
	 

	 	
	 
	 	 
	 

	 	891 Daechi-dong, Kangnam-gu, Seoul,
	 

	 	135-178, Korea
	 

	 	Tel: 82-2-3459-3675
	 

	 	Fax: 82-2-3459-3686
	 

	 	www. magnachip.com

Confidential

Dear Mr. Heung Kyu Kim

     MagnaChip Semiconductor, Ltd. (“MagnaChip”) is pleased to present you with an offer for
employment in the position of Senior Vice President of New Business Development, reporting to Sang
Park, CEO & Chairman. 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 July 1, 2007.

     Your annual salary will be KRW190,000,000 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 60% 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 60,000 MagnaChip Semiconductor LLC common units (the “Option”)
pursuant to the MagnaChip Semiconductor LLC Equity Incentive Plan at the exercise price of the
greater of (i) $3.00 per common unit or (ii) the fair market value of a common unit at the time you
begin your employment. 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. In addition to that, MagnaChip
will pay sign-on bonus of up to KRW50,000,000 for HBS tuition sponsorship reimbursement; provided,
however, that MagnaChip will pay such reimbursement only upon receiving receipts and other
documentation acceptable to MagnaChip, and provided, further, however, that you must fully refund
such reimbursement to the Company in the event your employment terminates for any reason prior to

 

 

the first anniversary of your employment start date. The Company will also furnish a company car to
allow you to commute to and from work.

     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, although you agree to provide one month’s notice prior to your
resignation. Likewise, MagnaChip may terminate your employment in accordance with Korean law.

     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 Park and must clearly and expressly specify 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/ Sang Park
 	 
	 	Sang Park/CEO & Chairman 	 
	 	MagnaChip Semiconductor, Ltd. 	 
	 

THIS EMPLOYMENT OFFER IS WHOLLY AGREED AND ACCEPTED BY:

	 	 	 	 
	 	 
	            /s/ Heung Kyu Kim
 	 
	Heung Kyu Kim

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