0001193125-11-039495 Sample Contracts

MAGNACHIP SEMICONDUCTOR CORPORATION FORM OF STOCK OPTION AGREEMENT (For US Participant)
Stock Option Agreement • February 18th, 2011 • Magnachip Semiconductor LLC • Semiconductors & related devices • California

MagnaChip Semiconductor Corporation (the “Company”) has granted to the Participant named in the Notice of Grant of Stock Option (the “Grant Notice”) to which this Stock Option Agreement (the “Option Agreement”) is attached an option (the “Option”) to purchase certain shares of Stock upon the terms and conditions set forth in the Grant Notice and this Option Agreement. The Option has been granted pursuant to and shall in all respects be subject to the terms and conditions of the MagnaChip Semiconductor Corporation 2011 Equity Incentive Plan (the “Plan”), as amended to the Date of Grant, the provisions of which are incorporated herein by reference. By signing the Grant Notice, the Participant: (a) acknowledges receipt of, and represents that the Participant has read and is familiar with, the Grant Notice, this Option Agreement, the Plan and a prospectus for the Plan prepared in connection with the registration with the Securities and Exchange Commission of shares issuable pursuant to the

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MAGNACHIP SEMICONDUCTOR CORPORATION FORM OF RESTRICTED STOCK UNITS AGREEMENT (For US Participant)
Restricted Stock Units Agreement • February 18th, 2011 • Magnachip Semiconductor LLC • Semiconductors & related devices • California

MagnaChip Semiconductor Corporation (the “Company”) has granted to the Participant named in the Notice of Grant of Restricted Stock Units (the “Grant Notice”) to which this Restricted Stock Units Agreement (the “Agreement”) is attached an Award consisting of Restricted Stock Units subject to the terms and conditions set forth in the Grant Notice and this Agreement. The Participant shall be entitled to Dividend Equivalent Rights with respect to the Award.

MAGNACHIP SEMICONDUCTOR CORPORATION FORM OF RESTRICTED STOCK AGREEMENT (For US Participant)
Restricted Stock Agreement • February 18th, 2011 • Magnachip Semiconductor LLC • Semiconductors & related devices • California

MagnaChip Semiconductor Corporation (the “Company”) has granted to the Participant named in the Notice of Grant of Restricted Stock (the “Grant Notice”) to which this Restricted Stock Agreement (the “Agreement”) is attached a Restricted Stock Bonus consisting of the shares of Stock identified in the Grant Notice (the “Shares”) subject to the terms and conditions set forth in the Grant Notice and this Agreement. The Award has been granted pursuant to and shall in all respects be subject to the terms and conditions of the MagnaChip Semiconductor Corporation 2011 Equity Incentive Plan (the “Plan”), as amended to the Date of Grant, the provisions of which are incorporated herein by reference. By signing the Grant Notice, the Participant: (a) acknowledges receipt of and represents that the Participant has read and is familiar with the Grant Notice, this Agreement, the Plan and a prospectus for the Plan prepared in connection with the registration with the Securities and Exchange Commission

MAGNACHIP SEMICONDUCTOR CORPORATION FORM OF RESTRICTED STOCK UNITS AGREEMENT (For Non-US Participant)
Restricted Stock Units Agreement • February 18th, 2011 • Magnachip Semiconductor LLC • Semiconductors & related devices • California

MagnaChip Semiconductor Corporation (the “Company”) has granted to the Participant named in the Notice of Grant of Restricted Stock Units (the “Grant Notice”) to which this Restricted Stock Units Agreement (the “Agreement”) is attached an Award consisting of Restricted Stock Units subject to the terms and conditions set forth in the Grant Notice and this Agreement. The Participant shall be entitled to Dividend Equivalent Rights with respect to the Award.

MagnaChip Semiconductor Corporation Common Stock, par value $0.01 per share, in the form of Depositary Shares Underwriting Agreement
Underwriting Agreement • February 18th, 2011 • Magnachip Semiconductor LLC • Semiconductors & related devices • New York

MagnaChip Semiconductor Corporation, a Delaware corporation (the “Company”), proposes, subject to the terms and conditions stated herein, to issue and sell to the Underwriters named in Schedule I hereto (the “Underwriters”) an aggregate of [ ] Depositary Shares (“DSs”) and, at the election of the Underwriters, up to [ ] additional DSs, each representing an ownership interest in one share of common stock, par value $0.01 per share (“Stock”), of the Company and the stockholders of the Company named in Schedule II hereto (the “Selling Stockholders”) propose, severally and not jointly, subject to the terms and conditions stated herein, to sell to the Underwriters an aggregate of [ ] DSs and, at the election of the Underwriters, up to [ ] additional DSs. The aggregate of [ ] DSs to be sold by the Company and the Selling Stockholders is herein called the “Firm DSs” and the aggregate of [ ] additional DSs to be sold by the Company and the Selling Stockholders at the election of the Underwrite

MAGNACHIP SEMICONDUCTOR CORPORATION FORM OF RESTRICTED STOCK AGREEMENT (For Non-US Participant)
Restricted Stock Agreement • February 18th, 2011 • Magnachip Semiconductor LLC • Semiconductors & related devices • California

MagnaChip Semiconductor Corporation (the “Company”) has granted to the Participant named in the Notice of Grant of Restricted Stock (the “Grant Notice”) to which this Restricted Stock Agreement (the “Agreement”) is attached a Restricted Stock Bonus consisting of the shares of Stock identified in the Grant Notice (the “Shares”) subject to the terms and conditions set forth in the Grant Notice and this Agreement. The Award has been granted pursuant to and shall in all respects be subject to the terms and conditions of the MagnaChip Semiconductor Corporation 2011 Equity Incentive Plan (the “Plan”), as amended to the Date of Grant, the provisions of which are incorporated herein by reference. By signing the Grant Notice, the Participant: (a) acknowledges receipt of and represents that the Participant has read and is familiar with the Grant Notice, this Agreement, the Plan and a prospectus for the Plan prepared in connection with the registration with the Securities and Exchange Commission

MAGNACHIP SEMICONDUCTOR CORPORATION FORM OF STOCK OPTION AGREEMENT (For Non-US Participant)
Stock Option Agreement • February 18th, 2011 • Magnachip Semiconductor LLC • Semiconductors & related devices • California

MagnaChip Semiconductor Corporation (the “Company”) has granted to the Participant named in the Notice of Grant of Stock Option (the “Grant Notice”) to which this Stock Option Agreement (the “Option Agreement”) is attached an option (the “Option”) to purchase certain shares of Stock upon the terms and conditions set forth in the Grant Notice and this Option Agreement. The Option has been granted pursuant to and shall in all respects be subject to the terms and conditions of the MagnaChip Semiconductor Corporation 2011 Equity Incentive Plan (the “Plan”), as amended to the Date of Grant, the provisions of which are incorporated herein by reference. By signing the Grant Notice, the Participant: (a) acknowledges receipt of, and represents that the Participant has read and is familiar with, the Grant Notice, this Option Agreement, the Plan and a prospectus for the Plan prepared in connection with the registration with the Securities and Exchange Commission of shares issuable pursuant to the

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