Document:

EX10.6(b)-10K (2012)

Exhibit 10.6(b)

CELANESE CORPORATION
2009 GLOBAL INCENTIVE PLAN 
 
2012 FORM OF 
NONQUALIFIED STOCK OPTION AWARD AGREEMENT
DATED <<Grant Date>>

<<NAME>>

Pursuant to the terms and conditions of the Celanese Corporation 2009 Global Incentive Plan, you have been awarded Nonqualified Stock Options with respect to Celanese Common Stock, subject to the restrictions described in this Agreement:

Stock Option Award

<<# Shares>> Shares

This grant is made pursuant to the Nonqualified Stock Option Award Agreement dated as of 
 
<<Grant Date>>, between Celanese and you, which Agreement is attached hereto and made a part hereof.

Page 1

CELANESE CORPORATION
2009 GLOBAL INCENTIVE PLAN
NONQUALIFIED STOCK OPTION AWARD AGREEMENT
This Nonqualified Stock Option Award Agreement (the “Agreement”) is made and entered into as of <<Grant Date>> (the “Grant Date”) by and between Celanese Corporation, a Delaware corporation (the “Company”), and <<NAME>> (the “Participant”).  Capitalized terms used, but not otherwise defined herein shall have the meanings ascribed to such terms in the Celanese Corporation 2009 Global Incentive Plan (as amended from time to time, the “2009 Plan”).
1.Grant of Option:  In order to encourage Participant’s contribution to the successful performance of the Company, the Company hereby grants to Participant as of the Grant Date, pursuant to the terms of the 2009 Plan and this Agreement, an award (the “Award”) of nonqualified stock options (the “Option”) to purchase all or any part of the number of Common Shares that are covered by such Option at the Exercise Price per share, in each case as specified below.  The Participant hereby acknowledges and accepts such Award upon the terms and subject to the performance requirements and other conditions, restrictions and limitations contained in this Agreement and the 2009 Plan.
	
		
	Number of Common Shares Subject to Option
	<<# Shares>>

	Grant Date:
	<<Grant Date>>

	Exercise Price Per Share:
	<<Exercise Price>>

	Expiration Date:
	<<Expiration Date>>

	Vesting Schedule (each date on which a portion of the Option vests and become exercisable, a “Vesting Date”, and each period between the Grant Date and a Vesting Date, a “Vesting Period”)
	<<Vesting Schedule>>

2.    Non-Qualified Stock Option:  The Option is not intended to be an incentive stock option under Section 422 of the Code and this Agreement will be interpreted accordingly.
3.    Exercise of Option:  
(a)    The Option shall not be exercisable as of the Grant Date.  After the Grant Date, to the extent not previously exercised, and subject to termination or acceleration as provided in this Agreement or in the 2009 Plan, the Option shall be exercisable to the extent it becomes vested, as described in this Agreement, to purchase up to that number of Common Shares as set forth above, subject to the Participant’s continued employment with the Company (except as set forth in Section 5 below).  The vesting period and/or exercisability of the Option may be adjusted by the Committee to reflect the decreased level of employment during any period in which the Participant is on an approved leave of absence or is employed on a less than full time basis.
(b)    To exercise the Option (or any part thereof), the Participant shall notify the Company and its designated stock plan administrator or agent, as specified by the Company (the “Administrator”), and indicate both (i) the number of whole shares of Common Stock the Participant wishes to purchase pursuant to such Option, and (ii) how the Participant wishes the shares of Common Stock to be registered (i.e. – in the Participant’s name or in the Participant’s and the Participant’s spouse’s name as community property or as joint tenants with rights of survivorship). 
(c)    The exercise price (the “Exercise Price”) of the Option is set forth in Section 1.  The Company shall not be obligated to issue any Common Shares until the Participant shall have 

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paid the total Exercise Price for that number of Common Shares.  The Exercise Price may be paid in any of the following forms, or in a combination thereof:  (i) cash or its equivalent, (ii) by means of tendering to the Company Common Shares owned by the Participant without reference to this Option, (iii) if there is a public market for the Common Shares at the time of exercise, subject to such rules as may be established by the Committee, through delivery of irrevocable instructions to a broker to sell the Common Shares otherwise deliverable upon the exercise of the Option and deliver promptly to the Company an amount equal to the aggregate Exercise Price, or (iv) any other method approved by the Committee.  
(d)    Common Shares will be issued as soon as practical following exercise of the Option.  Notwithstanding the above, the Company shall not be obligated to deliver any Common Shares during any period in which the Company determines that the exercisability of the Option or the delivery of Common Shares pursuant to this Agreement would violate any federal, state or other applicable laws.
4.    [Reserved]:
5.    Effects of Certain Events:
(a)    Upon the termination of Participant’s employment by Company without Cause or due to the Participant’s  death or Disability, a prorated portion of the unvested portion of the Option will vest in an amount equal to (i) the unvested Option in each Vesting Period multiplied by (ii) a fraction, the numerator of which is the number of complete and partial calendar months from the Grant Date to the date of termination without Cause or due to the Participant’s death or Disability, and the denominator of which is the number of complete and partial calendar months in each applicable Vesting Period, such product to be rounded up to the nearest whole number.  The Participant (or the Participant's estate, beneficiary or legal representative) may exercise the vested portion of the Option until the earlier of (1) the twelve-month anniversary of the date of such termination of employment or (2) the Expiration Date.  The remaining portion of the Option shall be forfeited and cancelled without consideration.
(b)    Upon the termination of the Participant’s employment with the Company upon Retirement, a prorated portion of the unvested portion of the Option will vest on the normal Vesting Dates in an amount equal to (i) the unvested Option in each Vesting Period multiplied by (ii) a fraction, the numerator of which is the number of complete and partial calendar months from the Grant Date to the date of termination for Retirement, and the denominator of which is the number of complete and partial calendar months in each applicable Vesting Period, such product to be rounded up to the nearest whole number.  To the extent permitted by applicable country, state or province law, as consideration for the vesting provisions upon Retirement contained in this Section 5(b), upon Retirement, the Participant shall enter into a departure and general release of claims agreement with the Company that includes two-year noncompetition and non-solicitation covenants in a form acceptable to the Company. The Participant (or the Participant's estate, beneficiary or legal representative) may exercise the vested portion of the Option until the Expiration Date.  The remaining portion of the Option shall be forfeited and cancelled without consideration.
(c)    Upon the termination of a Participant’s employment with the Company by reason of the Participant’s voluntary resignation (other than Retirement), (i) the unvested portion of the Option shall be immediately forfeited and cancelled without consideration as of the date of the Participant’s termination of employment, and (ii) the Participant may exercise the vested portion of the Option until the earlier of (1) 90 days following the date of such termination of employment and (2) the Expiration Date.

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(d)    Upon the termination of a Participant’s employment with the Company for “Cause”, the vested and unvested portion of the Option shall be immediately forfeited and cancelled without consideration as of the date of the Participant’s termination of employment
6.    Rights as a Stockholder:  The Participant shall have no voting, dividend or other rights as a stockholder with respect to the Award until the Options have been exercised and Common Shares have been delivered pursuant to this Agreement.    
7.    Change in Control:  Notwithstanding any other provision of this Agreement to the contrary, upon the occurrence of a Change in Control, with respect to any unexercised Options granted pursuant to this Agreement that have not previously been forfeited:
(a)    If (i) the Participant’s rights to the unexercisable portion of the Option is not adversely affected in connection with the Change in Control, or, if adversely affected, a substitute award with an equivalent (or greater) economic value and no less favorable vesting conditions is granted to the Participant upon the occurrence of a Change in Control, and (ii) the Participant's employment is terminated by the Company (or its successor) without Cause within two years following the Change in Control, then the unexercisable portion of the Option (or, as applicable, the substitute award) shall immediately vest and become exercisable, and shall remain exercisable for such period as specified by the Committee and communicated to the Participant.
(b)    If the Participant’s rights to the unexercisable portion of the Option is adversely affected in connection with the Change in Control and a substitute award is not made pursuant to Section 7(a) above, then upon the occurrence of a Change in Control, the unexercisable portion of the Option shall immediately vest and become exercisable, and shall remain exercisable for such period as specified by the Committee and communicated to the Participant.
8.    Income and Other Taxes:  The Company shall not deliver Common Shares in respect of the exercise of the Option unless and until the Participant has made arrangements satisfactory to the Committee to satisfy applicable withholding tax obligations for US federal, state, and local income taxes (or the foreign counterpart thereof) and applicable employment taxes.  Unless otherwise permitted by the Committee, withholding shall be effected at the minimum statutory rates by withholding Common Shares issuable in connection with the exercise of the Option.  The Participant acknowledges that the Company shall have the right to deduct any taxes required to be withheld by law in connection with the delivery of Common Shares issued in respect to the exercise of the Option from any amounts payable by it to the Participant (including, without limitation, future cash wages).  The Participant acknowledges and agrees that amounts withheld by the Company for taxes may be less than amounts actually owed for taxes by the Participant in respect of the Award.  
9.    Securities Laws:  The Company may impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by the Participant or other subsequent transfers by the Participant of any Common Shares issued as a result of the exercise of the Option, including without limitation (a) restrictions under an insider trading policy, and (b) restrictions as to the use of a specified brokerage firm for such resales or other transfers.  Upon the acquisition of any Common Shares pursuant to the exercise of the Option, the Participant will make or enter into such written representations, warranties and agreements as the Company may reasonably request in order to comply with applicable securities laws or with this Agreement and the 2009 Plan.  All accounts in which such Common Shares are held or any certificates for Common Shares shall be subject to such stop transfer orders and other restrictions as the Company may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange or quotation system upon which the Common Shares are then listed or quoted, and any applicable federal or state securities law, and the Company may cause a legend or legends to be put on any such certificates (or other appropriate restrictions and/or notations to be associated with any accounts in which such Common Shares are held) to make appropriate reference to such restrictions.

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10.    Non-Transferability of Award:  The Option may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant otherwise than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company; provided, that the Participant may designate a beneficiary, on a form provided by the Company, to receive any portion of the Award payable hereunder following the Participant’s death.   
11.    Other Agreements:  Subject to Sections 11(a) and 11(b) of this Agreement, this Agreement and the 2009 Plan constitute the entire understanding between the Participant and the Company regarding the Award, and any prior agreements, commitments or negotiations concerning the Award are superseded.
(a)    The Participant acknowledges that as a condition to the receipt of the Award, the Participant: 
(1)    shall have delivered to the Company an executed copy of this Agreement; 
(2)    shall be subject to the Company’s stock ownership guidelines; 
(3)    shall be subject to policies and agreements adopted by the Company from time to time, and applicable laws and regulations, requiring the repayment by the Participant of incentive compensation under certain circumstances, without any further act or deed or consent of the Participant; and
(4)    shall have delivered to the Company an executed copy of the Long-Term Incentive Claw-Back Agreement (if a current version of such Long-Term Incentive Claw-Back Agreement is not already on file, as determined by the Committee in its sole discretion).  For purposes hereof, “Long-Term Incentive Claw-Back Agreement” means an agreement between the Company and the Participant associated with the grant of long-term incentives of the Company, which contains terms, conditions, restrictions and provisions regarding one or more of (i) noncompetition by the Participant with the Company, and its customers and clients; (ii) nonsolicitation and non-hiring by the Participant of the Company’s employees, former employees or consultants; (iii) maintenance of confidentiality of the Company’s and/or clients’ information, including intellectual property; (iv) nondisparagement of the Company; and (v) such other matters deemed necessary, desirable or appropriate by the Company for such an agreement in view of the rights and benefits conveyed in connection with an award.
(b)    If the Participant is a non-resident of the U.S., there may be an addendum containing special terms and conditions applicable to awards in the Participant’s country.  The issuance of the Award to any such Participant is contingent upon the Participant executing and returning any such addendum in the manner directed by the Company.
12.    Not a Contract for Employment; No Acquired Rights:  Nothing in the 2009 Plan, this Agreement or any other instrument executed in connection with the Award shall confer upon the Participant any right to continue in the Company's employ or service nor limit in any way the Company's right to terminate the Participant's employment at any time for any reason.  The grant of Options hereunder, and any future grant of awards to the Participant under the 2009 Plan, is entirely voluntary and at the complete and sole discretion of the Company. Neither the grant of these Options nor any future grant of awards by the Company shall be deemed to create any obligation to grant any further awards, whether or not such a reservation is expressly stated at the time of such grants. The Company has the right, at any time and for any reason, to amend, suspend or terminate the 2009 Plan; provided, however, that no such amendment, suspension, or termination shall adversely affect the Participant’s rights hereunder.

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13.    Severability:  In the event that any provision of this Agreement is declared to be illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, such provision shall be reformed, if possible, to the extent necessary to render it legal, valid and enforceable, or otherwise deleted, and the remainder of this Agreement shall not be affected except to the extent necessary to reform or delete such illegal, invalid or unenforceable provision.
14.    Further Assurances:  Each party shall cooperate and take such action as may be reasonably requested by either party hereto in order to carry out the provisions and purposes of this Agreement.
15.    Binding Effect:  The Award and this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective permitted heirs, beneficiaries, successors and assigns.
16.    Electronic Delivery:  By executing this Agreement, the Participant hereby consents to the delivery of any and all information (including, without limitation, information required to be delivered to the Participant pursuant to applicable securities laws), in whole or in part, regarding the Company and its subsidiaries, the 2009 Plan, and the Award via electronic mail, the Company’s or a plan administrator’s web site, or other means of electronic delivery.
17.    Personal Data:  By accepting the Award under this Agreement, the Participant hereby consents to the Company’s use, dissemination and disclosure of any information pertaining to the Participant that the Company determines to be necessary or desirable for the implementation, administration and management of the 2009 Plan.
18.    Governing Law:  The Award and this Agreement shall be interpreted and construed in accordance with the laws of the state of Delaware and applicable federal law.
19.    Option Subject to Plan:  By entering into this Agreement the Participant agrees and acknowledges that the Participant has received and read a copy of the 2009 Plan and the 2009 Plan's prospectus.  The Option and the Common Shares issued upon exercise of such Option are subject to the 2009 Plan, which is hereby incorporated by reference.  In the event of any conflict between any term or provision of this Agreement and a term or provision of the 2009 Plan, the applicable terms and provisions of the 2009 Plan shall govern and prevail. 
20.    Validity of Agreement:  This Agreement shall be valid, binding and effective upon the Company on the Grant Date.  However, the Option granted pursuant to this Agreement shall be forfeited by the Participant and this Agreement shall have no force and effect if it is not duly executed by the Participant and delivered to the Company on or before <<Validity Date>>.
21.    Headings:  The headings preceding the text of the sections hereof are inserted solely for convenience of reference, and shall not constitute a part of this Agreement, nor shall they affect its meaning, construction or effect.
22.    Definitions:  The following terms shall have the following meanings for purposes of this Agreement, notwithstanding any contrary definition in the Plan:
(a)    “Cause” means (i) the Participant's willful failure to perform the Participant's duties to the Company (other than as a result of total or partial incapacity due to physical or mental illness) for a period of 30 days following written notice by the Company to Participant of such failure, (ii) conviction of, or a plea of nolo contendere to, (x) a felony under the laws of the United States or any state thereof or any similar criminal act in a jurisdiction outside the United States or (y) a crime involving moral turpitude, (iii) the Participant's willful malfeasance or willful misconduct which is demonstrably injurious to the Company or its affiliates, (iv) any act of fraud by the Participant, (v) any material violation of the Company's business conduct policy, (vi) any material violation of the Company's policies concerning harassment or discrimination, (vii) the Participant's conduct that causes material harm to the business reputation of the 

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Company or its affiliates, or (viii) the Participant's breach of any confidentiality, intellectual property, non-competition or non-solicitation applicable to the Participant under the Long-Term Incentive Claw-Back Agreement or any other agreement between the Participant and the Company.
(b)    “Change in Control” of the Company shall mean, in accordance with Treasury Regulation Section 1.409A-3(i)(5), any of the following:
(i)    any one person, or more than one person acting as a group, acquires ownership of stock of the Company that, together with stock held by such person or group, constitutes more than 50% of the total voting power of the stock of the Company; or
(ii)    a majority of members of the Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election; or
(iii)    any one person, or more than one person acting as a group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to 50% or more of all of the assets of the Company immediately prior to such acquisition or acquisitions.
(c)    “Disability” has the same meaning as “Disability” in the Celanese Corporation 2008 Deferred Compensation Plan or such other meaning as determined by the Committee in its sole discretion.
(d)    “Retirement” of the Participant shall mean a voluntary separation from service on or after the date when the Participant is both 55 years of age and has ten years of service with the Company, as determined by the Company in its discretion based on payroll records.  Retirement shall not include voluntary separation from service in which the Company could have terminated the Participant's employment for Cause.

[signature page follows]

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IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its duly authorized officer and the Participant has also executed this Agreement in duplicate.
	
						
	 
	 
	CELANESE CORPORATION

	 
	 
	 
	 
	 
	 

	 
	 
	By:
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	Chairman and Chief Executive Officer

This Agreement has been accepted and agreed to by the undersigned Participant.
	
						
	 
	 
	PARTICIPANT

	 
	 
	 
	 
	 
	 

	 
	 
	By:
	 
	 

	 
	 
	 
	 
	 
	 

	 
	 
	Name: <<NAME>>
	 

	 
	 
	Employee ID: <<Personnel Number>>

	 
	 
	Date:
	 
	 

	 
	 
	 
	 
	 

Page 8EX10.10(e)-10K (2012)

        

                    Exhibit 10.10(e)
     
AGREEMENT AND GENERAL RELEASE

Celanese Corporation, its’ subsidiaries and its affiliates, (“Company”), 222 W. Las Colinas Blvd., Irving, Texas 75039 and Jacquelyn H. Wolf, her heirs, executors, administrators, successors, and assigns (“Employee”), agree that:

		
	1.
	Last Day of Employment. The last day of employment with the Company is: November 2, 2012 (Separation Date). Last day in the office is: July 31, 2012. Unless otherwise expressly agreed to by the Company, if Employee voluntarily resigns before the Separation Date, she shall immediately be removed from the payroll and forfeit all rights to the Consideration set forth in Paragraph “2” below. In order to remain on the payroll until the aforementioned date and receive the Consideration set forth in Paragraph “2” below, Employee shall comply with all Company policies and procedures and perform her duties faithfully, to the best of her ability and to the satisfaction of the Company while devoting her full business efforts and time to the Company and to the promotion of its business up to July 31, 2012 and thereafter as needed, including but not limited to: work on projects assigned to her by the Chairman and CEO and assistance with transition duties.

		
	2.
	Consideration. Each separate installment under this Agreement shall be treated as a separate payment for purposes of determining whether such payment is subject to or exempt from compliance with the requirements of Section 409A of the Internal Revenue Code. In consideration for signing this Agreement and compliance with the promises made herein, Company and Employee agree:

		
	a.
	Voluntary Resignation. Employee agrees to voluntarily resign from the Company effective on the Separation Date. Effective as of the close of business on such Separation Date, Employee will resign from all positions she holds as a corporate officer of the Company (including without limitation any positions as an officer, employee and/or director), and from all positions held on behalf of the Company (e.g., external board memberships, internal committee positions). Employee will execute, in writing a voluntary resignation letter as a condition of this Agreement using the format set forth at Exhibit A.

		
	b.
	 Separation Pay.  The Company will pay an amount equal to her current annual base salary ($415,000.00), plus target bonus ($290,500.00), for a total payment of

$705,500.00, less any lawful deductions. Such amount shall be paid in installments. The first installment in the amount of $352,750.00 (representing 50% of the total payment)
shall be paid on the first available pay period after the Separation Date (November 16, 2012), if the Employee has previously signed and returned this Agreement and the letter enclosed at Exhibit B. If Employee signs and returns the Agreement after the Separation Date, payment will be made on the first available pay period, seven (7) days after Employee signs and returns this Agreement and the letter enclosed at Exhibit B.

The remaining $352,750.00 will be paid in three (3) substantially equal bi-weekly installments that begin on the second available pay period (November 30, 2012), as long as the Employee has previously signed and returned this Agreement and the letter enclosed at Exhibit B. Otherwise, the payments will commence in three (3) substantially equal bi-weekly installments that begin on the second pay period, after the Separation Date and after Employee signs and returns this Agreement and the letter enclosed at Exhibit B.
 
		
	c.
	Bonus.  Employee will be eligible to receive a pro-rata bonus payout based on the number of full months of service completed in 2012, up to the Separation Date. Bonus payout will be based on the annual bonus for a salary level 2 (SL 2); which is 70% of Employee’s annual base salary times the Employee’s personal modifier of a 1.0, modified for Company performance. The 2012 bonus payout will be paid to the Employee during the 2013 calendar year, but in no event later than March 15, 2013.

		
	d.
	Long-Term Equity and Cash Awards.  The Company will fulfill its obligations to Employee pursuant to the terms of the signed equity award agreements and offer letter dated November 19, 2009. The Company and Employee agree that the total equity awards, for which the Employee is eligible, are set forth at Exhibit C.

		
	e.
	Pension and 401(k) Plan Vesting. If Employee is eligible, the Company will fulfill its obligations according to the terms of the respective Plans. 

		
	f.
	Unused Vacation.  The Company will pay to Employee wages for any unused vacation for 2012 and any approved vacation carried over from 2011 under the standard procedure for calculating and paying any unused vacation to separated employees. The gross amount due to Employee, less any lawful deductions, will be payable within 30 days of the Separation Date; subject to the Employee providing the details of any vacation days utilized during 2011 and 2012 through the exit interview process.

		
	g.
	Company Benefit Plans.  Healthcare & dental plan coverage based on Employee’s current health & dental plan elections will continue until October 31, 2012. All other 

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normal Company programs (e.g., life insurance, long term disability, 401(k) contributions, etc.) will continue through the Separation Date. 

		
	h.
	COBRA Reimbursement.  If Employee applies for COBRA benefits, the Company will pay medical and dental coverage via COBRA for twelve (12) months beyond the month of separation. Thereafter, Employee shall be entitled to elect to continue such COBRA coverage for an additional six (6) months, the remainder of the COBRA period, at her expense. 

		
	i.
	Outplacement Services. The Employer will pay for outplacement services by the Company’s preferred provider for three (3) months, available seven (7) days after signing the Release.

		
	j.
	Return of Company Property.  Employee will surrender to Company, on her last day in the office (July 31, 2012), all Company materials, including, but not limited to her Company laptop computer, phone, credit card, calling cards, etc. Employee will be responsible for resolving any outstanding balances on the Company credit card.

		
	k.
	Withholding.  The payments and other benefits provided under this Agreement shall be reduced by applicable withholding taxes and other lawful deductions.

		
	3.
	No Consideration Absent Execution of this Agreement.  Employee understands and agrees that she would not receive the monies and/or benefits specified in Paragraph 2 above, unless Employee signs this Agreement on the signature page without having revoked this Agreement pursuant to Paragraph 13 below and the fulfillment of the promises contained herein.

		
	4.
	General Release of Claims.  Employee knowingly and voluntarily releases and forever discharges, to the full extent permitted by law, in all countries, including but not limited to the U.S., the People’s Republic of China (PRC), U.K. and Germany, the Company, its parent corporation, affiliates, subsidiaries, divisions, predecessors, successors and assigns and the current and former employees, officers, directors and agents thereof (collectively referred to throughout the remainder of this Agreement as “Company”), of and from any and all claims, known and unknown, asserted and unasserted, Employee has or may have against Company as of the date of execution of this Agreement, including, but not limited to, any alleged violation of:  

		
	•
	Title VII of the Civil Rights Act of 1964, as amended;

		
	•
	The Civil Rights Act of 1991;

		
	•
	Sections 1981 through 1988 of Title 42 of the United States Code, as amended;

		
	•
	The Employee Retirement Income Security Act of 1974, as amended;

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	•
	The Immigration Reform and Control Act, as amended;

		
	•
	The Americans with Disabilities Act of 1990, as amended;

		
	•
	The Age Discrimination in Employment Act of 1967, as amended;

		
	•
	The Workers Adjustment and Retraining Notification Act, as amended;

		
	•
	The Occupational Safety and Health Act, as amended;

		
	•
	The Sarbanes-Oxley Act of 2002; 

		
	•
	The Wall Street Reform Act of 2010 (Dodd Frank);

		
	•
	The Family Medical Leave Act of 1993 (FMLA);

		
	•
	The Texas Civil Rights Act, as amended;

		
	•
	The Texas Minimum Wage Law, as amended;

		
	•
	Equal Pay Law for Texas, as amended;

		
	•
	Any other federal, state or local civil or human rights law, or any other local, state or federal law, regulation or ordinance including but not limited to the State of Texas; or any law, regulation or ordinance of a foreign country, including but not limited to the PRC, Federal Republic of Germany and the UK.

		
	•
	Any public policy, contract, tort, or common law;

		
	•
	The employment, labor and benefits laws and regulations in all countries in addition to the U.S. including but not limited to the U.K. and Germany;

		
	•
	Any claim for costs, fees, or other expenses including attorneys’ fees incurred in these matters.

Affirmations.  Employee affirms that she has not filed, caused to be filed, or presently is a party to any claim, complaint, or action against Company in any forum or form. Provided, however, that the foregoing does not affect any right to file an administrative charge with the Equal Employment Opportunity Commission (“EEOC”), or a charge or complaint under the Wall Street Reform Act of 2010, subject to the restriction that if any such charge or complaint is filed, Employee agrees not to violate the confidentiality provisions of this Agreement and Employee further agrees and covenants that should she or any other person, organization, or other entity file, charge, claim, sue or cause or permit to be filed any charge or claim with the EEOC, the Securities and Exchange Commission (SEC), any other governmental body, civil action, suit or legal proceeding against the Company involving any matter occurring at any time in the past, Employee will not seek or accept any personal relief (including, but not limited to, monetary award, recovery, relief or settlement) in such charge, civil action, suit or proceeding.

Employee further affirms that she has reported all hours worked as of the date of this release and has been paid and/or has received all leave (paid or unpaid), compensation, wages, bonuses, commissions, and/or benefits to which she may be entitled and that no other leave (paid or unpaid), compensation, wages, bonuses, commissions and/or benefits are due to him, except as provided in this Agreement. Employee furthermore affirms that she has no known workplace injuries or occupational diseases and has been provided and/or has not been denied any leave requested under the Family Medical Leave Act.  

– 4 –

		
	5.
	Confidentiality.  Employee agrees and recognizes that any knowledge or information of any type whatsoever of a confidential nature relating to the business of the Company or any of its subsidiaries, divisions or affiliates, including, without limitation, all types of trade secrets, client lists or information, employee lists or information, information regarding product development, marketing plans, management organization, operating policies or manuals, performance results, business plans, financial records, or other financial, commercial, business or technical information (collectively “Confidential Information”), must be protected as confidential, not copied, disclosed or used other than for the benefit of the Company at any time unless and until such knowledge or information is in the public domain through no wrongful act by Employee. Employee further agrees not to divulge to anyone (other than the Company or any persons employed or designated by the Company), publish or make use of any such Confidential Information without the prior written consent of the Company, except by an order of a court having competent jurisdiction or under subpoena from an appropriate government agency.

		
	6.
	Non-competition/Non-solicitation/Non-hire.  Employee acknowledges and recognizes the highly competitive nature of the business of the Company. Without the express written permission of Celanese, for a period of two (2) years, following the Separation Date (the “Restricted Period”), Employee acknowledges and agrees that she will not: (i) directly or indirectly solicit sales of like products similar to those produced or sold by Company; or (ii) directly engage or become employed with any business that competes with the business of Celanese, including but not limited to: direct sales, supply chain, marketing, or manufacturing for a producer of products similar to those produced or licensed by Celanese. In addition, for two (2) years, Employee will not directly or indirectly solicit, nor hire employees of Celanese for employment. However, nothing in this provision shall restrict Employee from owning, solely as an investment, publicly traded securities of any company which is engaged in the business of Celanese if Employee (i) is not a controlling person of, or a member of a group which controls; and (ii) does not, directly or indirectly, own 5% or more of any class of securities of any such company.

		
	7.
	Governing Law and Interpretation.  This Agreement shall be governed and conformed in accordance with the laws of the State of Texas, without regard to its conflict of laws provision.  In the event Employee or Company breaches any provision of this Agreement, Employee and Company affirm that either may institute an action to specifically enforce any term or terms of this Agreement.  Should any provision of this Agreement be declared illegal or unenforceable by any court of competent jurisdiction and cannot be modified to be enforceable, excluding the general release language, such provision shall immediately become null and void, leaving the remainder of this Agreement in full force and effect. 

		
	8.
	Non-admission of Wrongdoing.  The parties agree that neither this Agreement nor the furnishing of the consideration for this Release shall be deemed or construed at any time 

– 5 –

for any purpose as an admission by Company of any liability or unlawful conduct of any kind.

		
	9.
	Non-Disparagement.  Employee agrees not to disparage, or make disparaging remarks or send any disparaging communications concerning, the Company, its reputation, its business, and/or its directors, officers, managers. Likewise the Company’s senior management agrees not to disparage, or make any disparaging remark or send any disparaging communication concerning Employee, her reputation and/or her business.

		
	10.
	Future Cooperation after Separation Date.  After the Separation Date, Employee agrees to make reasonable efforts to assist Company including but not limited to: responding to telephone calls, assisting with transition duties, assisting with issues that arise after the Separation Date and assisting with the defense or prosecution of any lawsuit or claim.  This includes but is not limited to providing deposition testimony, attending hearings and testifying on behalf of the Company.  The Company will reimburse Employee for reasonable time and expenses in connection with any future cooperation after the Separation Date, at her current annual base pay, converted to an hourly rate of $199/hr.  Time and expenses can include loss of pay or using vacation time at a future employer.  The Company shall reimburse the Employee within 30 days of remittance by Employee to the Company of such time and expenses incurred.

		
	11.
	Injunctive Relief.  Employee agrees and acknowledges that the Company will be irreparably harmed by any breach, or threatened breach by her of this Agreement and that monetary damages would be grossly inadequate. Accordingly, she agrees that in the event of a breach, or threatened breach by her of this Agreement the Company shall be entitled to apply for immediate injunctive or other preliminary or equitable relief, as appropriate, in addition to all other remedies at law or equity.

		
	12.
	Review Period. Employee is hereby advised she has until June 11, 2012, or twenty-one (21) calendar days, to review this Agreement and to consult with an attorney prior to execution of this Agreement. Employee agrees that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original twenty-one (21) calendar day consideration period.

		
	13.
	Revocation Period and Effective Date. If Employee signs and returns to the Company a copy of this Agreement, she has a period of seven (7) days (the “Revocation Period”) following the date of such execution to revoke this Agreement, after which time this agreement will become effective (the “Effective Date”) if not previously revoked.  In order for the revocation to be effective, written notice must be received by the Company no later than close of business on the seventh day after Employee signs this Agreement at which time the Revocation Period shall expire.

– 6 –

		
	14.
	Amendment.  This Agreement may not be modified, altered or changed except upon express written consent of both parties wherein specific reference is made to this Agreement.

		
	15.
	Entire Agreement.  This Agreement sets forth the entire agreement between the parties hereto, and fully supersedes any prior obligation of the Company to Employee. Employee acknowledges that she has not relied on any representations, promises, or agreements of any kind made to him in connection with her decision to accept this Agreement, except for those set forth in this Agreement.  Notwithstanding the foregoing, it is expressly understood and agreed that the Equity Agreements and the Long Term Incentive Award Claw Back Agreement executed by Employee on or about March 12, 2010 shall remain in full force and effect, except as such Equity Agreements are modified by Section 2(d) of this Agreement.

		
	16.
	HAVING ELECTED TO EXECUTE THIS AGREEMENT, TO FULFILL THE PROMISES AND TO RECEIVE THE SUMS AND BENEFITS IN PARAGRAPH “2” ABOVE, EMPLOYEE FREELY AND KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS SHE HAS OR MIGHT HAVE AGAINST COMPANY.

IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed this Release as of the date set forth below.
	
							
	 
	Employee
	 
	Celanese Corporation:
	 

	 
	By: 
	/s/ Jacquelyn H. Wolf   
	 
	By:
	/s/ Gjon N. Nivica, Jr.  
	 

	 
	 
	Jacquelyn H. Wolf
	 
	 
	Gjon N. Nivica, Jr.
	 

	 
	 
	 
	 
	 
	 
	 

	 
	Date:
	June 11, 2012
	 
	Date:
	June 12, 2012
	 

	 
	 
	 
	 
	 
	 
	 

                        
    
      

    

28007.2

– 7 –

Exhibit C

Summary LTI Awards

J. Wolf Exhibit C
Separation Equity Calculations

Separation Date Assumption:        11/2/2012 
	
										
	Sign‐on Awards (1)

	Vesting Period
	Target Award
	Numerator
	Denominator
	Prorated Amount
	Price(a)
	Timing of Payment (RSUs)/ Exercisable Until (NQSO)
	Market Value (est.)

	Time Vested RSUs: (2)
	 
	 
	 
	 
	 
	 
	 

	1/21/2010 ‐ 10/1/2013
	3,500
	44
	44
	3,500
	$48.37
	Oct. 2012
	

	$169,295
	

	Stock Options: (3)
	 
	 
	 
	 
	 
	 
	 

	1/21/2010 ‐ 10/01/2013
	6,000
	33
	44
	4,500
	$32.54
	11/2/2013
	

	$71,235
	

	Total Prorated Sign‐on LTI Award Value
	

	$240,530
	

	
										
	2010 Performance-Based RSU and Time Vested RSUs (without Options)

	Vesting Period
	Target Award
	Numerator
	Denominator
	Prorated Amount
	Price(a)
	Timing of Payment
	Market Value (est.)

	2010 Performance RSU Awards: (4)
	 
	 
	 
	 
	 
	 

	12/1/2010 ‐ 9/30/2013
	8,050
	23
	34
	5,446
	$48.37
	Oct. 2013
	

	$263,423
	

	2010 Time Vested RSUs: (5)
	 
	 
	 
	 
	 
	 
	 

	10/01/2010 ‐ 10/1/2013
	1,611
	25
	36
	1,119
	$48.37
	Oct. 2013
	

	$54,126
	

	Total Prorated 2010 RSU Award Value
	

	$317,550
	

	
											
	2010 Stock Options (6)

	Grant Date
	Options Granted
	Numerator
	Denominator
	

Prorated Amount 
	Exercise Price
	Exercisable
until:
	Market Value (est.)

	10/1/2010 ‐ 10/1/2013
	2,141
	25
	36
	1,487
	$32.35
	11/2/2013
	

	$23,822
	

	 
	 
	 
	 
	 
	 
	 
	 

	10/1/2010 ‐ 10/01/2014
	2,142
	25
	48
	1,116
	$32.35
	11/2/2013
	

	$17,878
	

	Total Prorated 2010 Option Award Value
	

	$41,701
	

	 

	2011 Performance-Based RSU and Time Vested RSUs (without Options)

	Vesting Period
	Target Award
	Numerator
	Denominator
	Prorated Amount
	Price(a) 
	Timing of Payment
	Market Value (est.)

	2011 Performance RSU Awards: (4)
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 

	11/1/2011 – 11/1/2014
	5,769
	12
	36
	1,923
	$48.37
	Nov. 2014
	

	$93,016
	

	2011 Time Vested RSUs: (5)
	 
	 
	 
	 
	 
	 
	 

	10/03/2011 ‐ 10/1/2013
	1,289
	13
	24
	699
	$48.37
	Oct. 2013
	

	$33,811
	

	 
	 
	 
	 
	 
	 
	 
	 

	10/03/2011 ‐ 10/1/2014
	1,721
	13
	36
	622
	$48.37
	Oct. 2014
	

	$30,086
	

	Total Prorated 2011 RSU Award Value
	

	$156,913
	

	
										
	2011 Stock Options (6)

	Grant Date
	Options Granted
	Numerator
	Denominator
	

Prorated Amount 
	Exercise Price
	Exercisable
until:
	Market Value (est.)

	10/3/2011 ‐ 10/3/2013
	2,476
	13
	24
	1,342
	$32.51
	11/2/2013
	

	$21,284
	

	10/3/2011 ‐ 10/3/2014
	2,476
	13
	36
	895
	$32.51
	11/2/2013
	

	$14,195
	

	10/3/2011 ‐ 10/3/2015
	2,476
	13
	48
	671
	$32.51
	11/2/2013
	

	$10,642
	

	Total Prorated 2011 Option Award Value
	

	$46,121
	

                                                     Total Pro-rata Equity Value             $802,815
Treatment of outstanding awards if terminated not for cause: 
(1) The sign‐on 2009 PRSUs will vest on October 1, 2012 while participant is still employed 
(2) Sign‐on Time RSUs ‐become immediately vested upon termination date (per offer letter) 
(3) Sign‐on Stock Options ‐pro rate on termination date; become immediately vested and are exercisable for one‐year following termination; not subject to holding requirement (per agreement) 
(4) 2010 / 2011 PRSUs ‐pro rate on termination date and pay out on original vesting date subject to performance attainment and holding requirement (per agreement) 
(5) 2010 / 2011 Time RSUs ‐pro rate on termination date and pay out on original vesting date subject to holding requirement (per agreement) 
(6) 2010 / 2011 Stock Options ‐pro rate on termination date; become immediately vested and are exercisable for one‐year following termination, Options are subject to holding requirement (per agreement) 
(a)Stock price used for separation calculation on 5/1/2012     $48.37

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