MagnaChip Semiconductor LLC Notice of Grant of Unit Option to Heungkyu Kim (Non-US Participant)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

MagnaChip Semiconductor LLC has granted Heungkyu Kim an option to purchase 560,000 Common Units under the company's 2009 Common Unit Plan. The option has an exercise price of $1.16 per unit, vests over a four-year schedule starting one year after the grant date, and expires ten years from the grant date. The agreement is governed by the plan documents and local law. Both the company and the participant have agreed to the terms, and the participant acknowledges receipt and understanding of all related documents.

Read More Arrow
EX-10.40 47 f54652orexv10w40.htm EX-10.40 exv10w40
Exhibit 10.40
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:
  Heungkyu Kim
 
    
Date of Grant:
  December 8, 2009
 
    
Number of Option Units:
  560,000, 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/ Heungkyu Kim
 
        
 
      Signature
 
Its:
  CEO & Chairman   Dec. 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 Agreement