MagnaChip Semiconductor LLC Notice of Grant of Restricted Units to Taeyoung Hwang (December 8, 2009)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

MagnaChip Semiconductor LLC has granted Taeyoung Hwang an award of 840,000 restricted common units under its 2009 Common Unit Plan. The units vest over a two-year period: 34% on the grant date, 33% after one year, and the remaining 33% after the second year, provided Mr. Hwang remains in service. The agreement is governed by the plan documents, a restricted unit agreement, and the company's operating agreement. This grant is subject to local laws of the participant's country of residence.

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EX-10.32 39 f54652orexv10w32.htm EX-10.32 exv10w32
Exhibit 10.32
MAGNACHIP SEMICONDUCTOR LLC
NOTICE OF GRANT OF RESTRICTED UNITS
[Non-US Participants]
The Participant has been granted an award (the “Award”) of certain in Common Units (the “Units”) of MagnaChip Semiconductor LLC pursuant to the MagnaChip Semiconductor LLC 2009 Common Unit Plan (the “Plan”), as follows:
     
Participant:
  Taeyoung Hwang
 
   
Date of Grant:
  December 8, 2009
 
   
Total Number of Units:
  840,000, 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/ Taeyoung Hwang
 
        
Its:
  CEO & Chairman   Signature
 
    Dec. 15, 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 Agreement