Document:

DEARBORN SAVINGS ASSOCIATION, F.A.

                                   DIRECTORS'
                                 RETIREMENT PLAN

                              Lawrenceburg, Indiana

                                 August 1, 2005

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                           DIRECTORS' RETIREMENT PLAN

     This Directors'  Retirement Plan (the "Plan"),  effective as of the 1st day
of August 2005,  formalizes the  understanding  by and between  Dearborn Savings
Association,  F.A. (the "Bank"),  a federal stock savings  association,  and its
directors,  hereinafter  referred to as "Director(s)",  who shall be eligible to
participate  in this Plan by execution of a Directors'  Retirement  Plan Joinder
Agreement ("Joinder Agreement") in a form provided by the Bank.

                              W I T N E S S E T H :

     WHEREAS, the Directors serve the Bank as members of the Board of Directors;
and

     WHEREAS,  the Bank desires to honor, reward and recognize the Directors who
have provided long and faithful  service to the Bank and to ensure the continued
service on the Board by such Directors until retirement age; and

     WHEREAS,  Director  David Lorey has elected not to  participate in the Plan
and, accordingly,  will not execute a Joinder Agreement indicating his desire to
participate hereunder; and

     WHEREAS,  the Directors  wish to be assured that they will be entitled to a
certain amount of additional  compensation for some definite period of time from
and after  retirement from active service with the Bank or other  termination of
service and wish to provide their beneficiaries with benefits after their death;
and

     WHEREAS,  the  Bank  and  the  Directors  wish to  provide  the  terms  and
conditions  upon which the Bank shall pay such  additional  compensation  to the
Directors after retirement or other termination of service and/or death benefits
to their beneficiaries after death; and

     WHEREAS,  the Bank and the  Directors  intend this Plan to be considered an
unfunded  arrangement,  maintained primarily to provide supplemental  retirement
income for such Directors; and

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     WHEREAS,  the  Bank has  adopted  this  Directors'  Retirement  Plan  which
controls all issues  relating to  Retirement  Benefits as  described  herein and
which supersedes and replaces the Directors  Emeritus Program previously adopted
by the Bank; and

     WHEREAS,  Section  409A of the Internal  Revenue  Code of 1986,  as amended
("Code"),  requires  that certain  types of deferred  compensation  arrangements
comply with its terms or be subject to current taxes and penalties.

     NOW, THEREFORE, in consideration of the premises and of the mutual promises
herein contained, the Bank and the Directors agree as follows:

                                    SECTION I

                                   DEFINITIONS
                                   -----------

     When used herein,  the following  words and phrases shall have the meanings
below unless the context clearly indicates otherwise:

1.1  "Accrued  Benefit"  means that portion of the  Retirement  Benefit which is
     required to be expensed and accrued  under  generally  accepted  accounting
     principles  (GAAP) by any  appropriate  method  which the  Bank's  Board of
     Directors may require in the exercise of its sole discretion.

1.2  "Act" means the Employee Retirement Income Security Act of 1974, as amended
     from time to time.

1.3  "Administrator" means the Bank.

1.4  "Bank" means Dearborn Savings Association, F.A. and any successor thereto.

1.5  "Beneficiary"  means the person or persons (and their heirs)  designated as
     Beneficiary  in the  Director's  Joinder  Agreement  to whom  the  deceased
     Director's benefits are payable.  If no Beneficiary is so designated,  then
     the Director's  Spouse, if living,  will be deemed the Beneficiary.  If the
     Director's Spouse is not living,  then the Children of the Director will be
     deemed the Beneficiaries and will take on a per stirpes basis. If there are
     no living  Children,  then the  Estate of the  Director  will be deemed the
     Beneficiary.

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1.6  "Benefit Age" shall be the birthday on which the Director  becomes eligible
     to receive the  Retirement  Benefit under the Plan.  Such birthday shall be
     designated in the Director's Joinder Agreement.

1.7  "Benefit  Eligibility  Date"  shall  be the  date on  which a  Director  is
     entitled  to  receive  his  Retirement   Benefit.  A  Director's   "Benefit
     Eligibility  Date" shall occur on the 1st day of the month  coincident with
     or next  following the month in which the Director  attains his Benefit Age
     designated in the Joinder Agreement.

1.8  "Cause" means personal dishonesty, willful misconduct, willful malfeasance,
     breach of fiduciary duty involving personal profit,  intentional failure to
     perform  stated  duties,  willful  violation of any law,  rule,  regulation
     (other   than   traffic   violations   or  similar   offenses),   or  final
     cease-and-desist  order,  material breach of any provision of this Plan, or
     gross negligence in matters of material importance to the Bank.

1.9  "Change in Control"  shall mean (i) a change in ownership of the Bank under
     paragraph  (a)  below,  or (ii) a change in  effective  control of the Bank
     under  paragraph  (b)  below,  or  (iii) a  change  in the  ownership  of a
     substantial portion of the assets of the Bank under paragraph (c) below:

          (a)  Change in the ownership of the Bank. A change in the ownership of
               the Bank  shall  occur on the date that any one  person,  or more
               than one person acting as a group (as defined in paragraph  (b)),
               acquires  ownership of stock of the  corporation  that,  together
               with stock held by such person or group, constitutes more than 50
               percent of the total fair market  value or total  voting power of
               the stock of such corporation. However, if any one person or more
               than one person acting as a group, is considered to own more than
               50 percent of the total fair market  value or total  voting power
               of the stock of a  corporation,  the  acquisition  of  additional
               stock by the same person or persons is not  considered to cause a
               change in the ownership of the  corporation (or to cause a change
               in the effective  control of the corporation  (within the meaning
               of paragraph (b) below).  An increase in the  percentage of stock
               owned by any one person, or persons acting as a

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               group,  as a result of a  transaction  in which  the  corporation
               acquires its stock in exchange for property will be treated as an
               acquisition of stock for purposes of this section. This paragraph
               (a)  applies  only  when  there  is  a  transfer  of  stock  of a
               corporation (or issuance of stock of a corporation)  and stock in
               such corporation remains outstanding after the transaction.

          (b)  Change in the  effective  control  of the  Bank.  A change in the
               effective control of the Bank shall occur on the date that either
               (i) any one person, or more than one person acting as a group (as
               determined below),  acquires (or has acquired during the 12-month
               period ending on the date of the most recent  acquisition by such
               person  or  persons)   ownership  of  stock  of  the  corporation
               possessing  35 percent or more of the total  voting  power of the
               stock of such  corporation;  or (ii) a majority of members of the
               corporation's  board of directors is replaced during any 12-month
               period by directors whose appointment or election is not endorsed
               by a  majority  of the  members  of the  corporation's  board  of
               directors  prior  to the  date of the  appointment  or  election,
               provided that for purposes of this  paragraph  (b)(ii),  the term
               corporation  refers  solely to a  corporation  for which no other
               corporation is a majority shareholder. In the absence of an event
               described  in paragraph  (i) or (ii),  a change in the  effective
               control  of a  corporation  will  not have  occurred.  If any one
               person,  or more than one person acting as a group, is considered
               to effectively  control a corporation (within the meaning of this
               paragraph  (b)),  the  acquisition  of additional  control of the
               corporation  by the same person or persons is not  considered  to
               cause a change in the effective control of the corporation (or to
               cause a change in the  ownership  of the  corporation  within the
               meaning of paragraph  (a)).  Persons will not be considered to be
               acting as a group solely  because  they  purchase or own stock of
               the same corporation at the same time, or as a result of the same
               public offering.

          (c)  Change in the  ownership of a  substantial  portion of the Bank's
               assets. A change in the ownership of a substantial portion of the
               Bank's assets

                                       4
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               shall  occur on the date  that any one  person,  or more than one
               person acting as a group (as determined below),  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  corporation  that have a total gross fair market value equal
               to or more than 40% of the total gross fair  market  value of all
               of the  assets  of the  corporation  immediately  prior  to  such
               acquisition or acquisitions.  For this purpose, gross fair market
               value  means the value of the assets of the  corporation,  or the
               value of the assets being disposed of, determined  without regard
               to any  liabilities  associated  with  such  assets.  There is no
               Change in Control event under this  paragraph (c) when there is a
               transfer to an entity that is controlled by the  shareholders  of
               the transferring corporation immediately after the transfer.

          (d)  Each  of the  sub-paragraphs  (a)  through  (c)  above  shall  be
               construed and  interpreted  consistent  with the  requirements of
               Code Section 409A and any Treasury  regulations or other guidance
               issued thereunder.

1.10 "Children"  means the  Director's  children,  or the issue of any  deceased
     Children,  then living at the time payments are due the Children under this
     Plan. The term "Children" shall include both natural and adopted Children.

1.11 "Code" shall mean the Internal  Revenue Code of 1986,  as amended from time
     to time, and the rules and regulations promulgated thereunder.

1.12 "Company" means DSA Financial Corporation, the stock holding company parent
     of the Bank.

1.13 "Disability" means any case in which a Director: (i) is unable to engage in
     any substantial  gainful  activity by reason of any medically  determinable
     physical or mental  impairment  which can be expected to result in death or
     can be expected to last for a continuous period of not less than 12 months,
     or (ii) is, by  reason of any  medically  determinable  physical  or mental
     impairment  which can be  expected to result in death or can be expected to
     last for a continuous  period of not less than 12 months,  receiving income
     replacement benefits

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     for a period of not less than three  months  under an  accident  and health
     plan covering employees of the Bank.

1.14 "Disability  Benefit"  means the monthly  benefit  payable to the  Director
     following a determination, in accordance with Subsection 3.6, that he is no
     longer  able,  properly  and  satisfactorily,  to  perform  his  duties  as
     Director.

1.15 "Effective Date" of this Plan shall be August 1, 2005.

1.16 "Estate" means the estate of the Director.

1.17 "Interest Factor" means monthly compounding or discounting,  as applicable,
     at six and one-half percent (6.5%) per annum.

1.18 "Payout Period" means the time frame during which certain  benefits payable
     hereunder  shall be  distributed.  Payments  shall be made in equal monthly
     installments   commencing   (i)  within  thirty  (30)  days  following  the
     occurrence of the event which triggers  distribution,  or (ii) in the event
     the Director is also a Specified  Employee and the following is required by
     Code Section 409A, as of the first day of the seventh month next  following
     such Director's  Separation from Service, and shall continue thereafter for
     a period of One Hundred Twenty (120)  consecutive  months.  For purposes of
     the Survivor's  Benefits payable hereunder,  the Payout Period shall be One
     Hundred Twenty (120) consecutive months.

1.19 "Plan Year" shall mean the calendar year.

1.20 "Retirement  Benefit"  means  an  annual  amount  payable  to the  Director
     pursuant to the Plan and set forth in the Director's Joinder Agreement.

1.21 "Separation  from Service" shall have the meaning set forth in Code Section
     409A and Treasury regulations or other guidance issued by the United States
     Treasury Department under Code Section 409A.

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1.22 "Specified  Employee" means with respect to a publicly  traded company,  an
     employee of the Bank or Company who is also a "key  employee"  as such term
     is defined in Section  416(i) of the Code,  without  regard to  paragraph 5
     thereof.

1.23 "Spouse"  means the  individual to whom the Director is legally  married at
     the time of the Director's death.

1.24 "Survivor's  Benefit" means an annual amount payable to the  Beneficiary in
     monthly   installments   throughout  the  Payout  Period,  and  subject  to
     Subsection 3.2.

                                   SECTION II

                          ESTABLISHMENT OF RABBI TRUST
                          ----------------------------

     The Bank has established a rabbi trust into which the Bank shall contribute
assets  which  shall  be held  therein,  subject  to the  claims  of the  Bank's
creditors in the event of the Bank's  "Insolvency"  as defined in the plan which
establishes  such  rabbi  trust,  until the  contributed  assets are paid to the
Directors and their  Beneficiaries in such manner and at such times as specified
in this Plan. It is the intention of the Bank to make contributions to the rabbi
trust to  provide  the Bank with a source of funds to assist it in  meeting  the
liabilities  of this Plan.  The rabbi  trust and any assets held  therein  shall
conform to the terms of the rabbi trust agreement which has been  established in
conjunction  with this Plan. To the extent the language in this Plan is modified
by the language in the rabbi trust  agreement,  the rabbi trust  agreement shall
supersede this Plan. Any  contributions  to the rabbi trust shall be made during
each Plan Year in accordance with the rabbi trust agreement.  The amount of such
contribution(s)  shall be at least equal to the Director's  Accrued Benefit,  if
any,  less:  (i)  previous  contributions  made on behalf of the Director to the
rabbi trust, and (ii) earnings to date on all such previous contributions.

                                   SECTION III

                                    BENEFITS
                                    --------

3.1  Retirement  Benefit.  If the  Director  is in the service of the Bank until
     -------------------
     reaching his Benefit Age, the Director  shall be entitled to the Retirement
     Benefit.  Such  Retirement  Benefit shall commence  within thirty (30) days
     following the Director's Separation from Service, provided, however, if the
     Director is a Specified Employee, and the following is required

                                       7
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     by the Code Section 409A,  such payments shall commence as of the first day
     of the seventh month next following the Director's Separation from Service,
     and shall be payable in monthly installments  throughout the Payout Period.
     In the event a Director dies after  commencement of the Retirement  Benefit
     payments  but  before  completion  of  all  such  payments  due  and  owing
     hereunder,  the Bank shall pay to the Director's Beneficiary a continuation
     of the monthly installments for the remainder of the Payout Period.

3.2  Death Prior to Benefit Age, Burial Expenses.
     -------------------------------------------

          (a)  If the Director dies prior to attaining his Benefit Age but while
               in the service of the Bank, the Director's  Beneficiary  shall be
               entitled to the Survivor's Benefit.  The Survivor's Benefit shall
               commence  within  thirty  (30) days of the  Director's  death and
               shall be payable in monthly  installments  throughout  the Payout
               Period.  The  Survivor's  Benefit  shall  be  equal  to the  full
               Retirement  Benefit,  calculated  as if the Director had survived
               and  remained  in the  service  of the Bank  until  reaching  his
               Benefit Age.

          (b)  In addition to any other benefits  payable under this Plan,  upon
               the  Director's  death,  the  Director's   Beneficiary  shall  be
               entitled  to  receive a  one-time  lump sum death  benefit in the
               amount of Ten Thousand Dollars  ($10,000.00).  This benefit shall
               be provided specifically for the purpose of providing payment for
               burial  and/or  funeral  expenses of the  Director.  Such benefit
               shall be payable within thirty (30) days of the Director's death.
               The Director's  Beneficiary shall not be entitled to such benefit
               under this Plan (i) if the Director is removed for Cause prior to
               death, or (ii) the Director's Beneficiary receives a supplemental
               death  benefit for burial  expenses of at least $10,000 under any
               other non-qualified  deferred  compensation plan sponsored by the
               Bank.

3.3  Voluntary or Involuntary Termination Other Than for Cause.
     ---------------------------------------------------------

          (a)  If the  Director's  service  with  the  Bank  is  voluntarily  or
               involuntarily  terminated  prior to the attainment of his Benefit
               Eligibility  Date,  for any  reason  other  than for

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               Cause, the Director's death, Disability, or following a Change in
               Control,  the Director (or his Beneficiary)  shall be entitled to
               the  annuitized  value  (using  the  Interest  Factor) of (i) his
               Accrued  Benefit  calculated as of the date of his termination of
               service,  plus (ii) interest accrued on such Accrued Benefit from
               the date of termination until his Benefit Age. Such benefit shall
               commence on the Director's Benefit  Eligibility Date and shall be
               payable in monthly installments  throughout the Payout Period. In
               the event the  Director  dies at any time after  commencement  of
               payments hereunder,  but prior to completion of all such payments
               due and owing  hereunder,  the Bank  shall pay to the  Director's
               Beneficiary a continuation  of the monthly  installments  for the
               remainder of the Payout Period.

          (b)  If  the  Director  dies  after  his   voluntary  or   involuntary
               termination of service occurring prior to his Benefit Eligibility
               Date, and prior to the  commencement of benefits  hereunder,  the
               Director's  Beneficiary shall be entitled to the annuitized value
               (using the Interest Factor) of his Accrued  Benefit.  The payment
               of such benefit  shall  commence  within  thirty (30) days of the
               Director's  death.  The  benefit  shall  be  payable  in  monthly
               installments over the Payout Period.

3.4  Termination of Service Related to a Change in Control.
     -----------------------------------------------------

          (a)  If a Change in Control  occurs at the Bank,  and  thereafter  the
               Director incurs a Separation from Service (either  voluntarily or
               involuntarily)  with or within  three (3)  years  following  such
               Change in Control,  other than due to termination for Cause,  the
               Director shall be entitled to his full Retirement  Benefit (as if
               he had  remained  in the  service of the Bank  until his  Benefit
               Age).  Such  benefit  shall  commence  within  thirty  (30)  days
               following his Separation from Service, provided,  however, if the
               Director is a Specified Employee and the following is required by
               Code Section 409A,  such payments  shall commence as of the first
               day of the seventh  month next  following  Director's  Separation
               from  Service,  and  shall be  payable  in  monthly  installments
               throughout the Payout Period. In the event that the Director dies
               at any time after commencement of the payments, but prior

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               to completion of all such payments due and owing  hereunder,  the
               Bank, or its successor, shall pay to the Director's Beneficiary a
               continuation of the monthly installments for the remainder of the
               Payout Period.

          (b)  If, after such Separation  from Service,  the Director dies prior
               to  commencement  of  the  Retirement  Benefit   hereunder,   the
               Director's Beneficiary  shall  be  entitled  to  the  Survivor's
               Benefit  which  shall  commence  within  thirty  (30) days of the
               Director's  death.  The  Survivor's  Benefit  shall be payable in
               monthly installments over the Payout Period.

3.5  Termination  for Cause.  If the  Director  is  terminated  for  Cause,  all
     ----------------------
     benefits under this Plan shall be forfeited and this Plan shall become null
     and void as to the Director.

3.6  Disability Benefit.
     ------------------

          (a)  Notwithstanding  any other provision  hereof,  a Director who has
               not  attained his Benefit  Eligibility  Date shall be entitled to
               receive the Disability Benefit hereunder, in any case in which it
               is determined by a duly licensed  physician selected by the Bank,
               that the Director has incurred a  Disability.  If the  Director's
               service is terminated  pursuant to this  paragraph,  the Director
               will  begin  receiving  the  Disability  Benefit  in  lieu of any
               benefit available under Section 3.3, which is not available prior
               to  the  Director's  Benefit  Eligibility  Date.  The  Disability
               Benefit shall equal the Director's  Accrued  Benefit,  annuitized
               (using  the  Interest   Factor)  over  the  Payout  Period.   The
               Disability Benefit shall be payable in monthly  installments over
               the Payout Period  commencing  within thirty (30) days  following
               the Director's  termination of service. In the event the Director
               dies while receiving  payments  pursuant to this Subsection,  but
               prior to the completion of all payments due and owing  hereunder,
               the Bank shall pay to the  Director's  Beneficiary a continuation
               of the  monthly  installments  for the  remainder  of the  Payout
               Period.

          (b)  If the Director  dies after it is  determined  that such Director
               has incurred a  Disability  but before the  commencement  of such
               payments,  the  Director's

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               Beneficiary  shall be entitled to the Director's  Accrued Benefit
               annuitized  (using the Interest  Factor) over the Payout  Period.
               Such  benefit  shall be  payable  to the  Beneficiary  in monthly
               installments over the Payout Period commencing within thirty (30)
               days of the Director's death.

3.7  Non-Competition During and After Service on the Board.
     -----------------------------------------------------

          (a)  In order to be eligible for the benefits  hereunder  the Director
               shall not actively engage, either directly or indirectly,  in any
               business or other activity which is or may be deemed to be in any
               way  competitive  with or  adverse to the best  interests  of the
               business  of the Bank so long as he remains in the service of the
               Bank and for two (2) years  following  Separation  from  Service,
               unless the  Director's  participation  therein has been consented
               to,  in  writing,  by the  Board  of  Directors.  In the  event a
               Director  violates  this Section  3.7(a)  within two (2) years of
               termination  of service,  any benefits being paid to the Director
               shall  cease  being  paid  unless  or until the  Director  ceases
               violation of this Section  3.7(a)  upon,  and within  thirty (30)
               days of, written notice from the Board to cease such activity, or
               the Director is the  successful  party in a claims or arbitration
               proceeding brought under Section 8.2 hereof.

          (b)  In order to receive or  continue  receiving  benefits  under this
               Plan, the Director shall not,  without the prior written  consent
               of the  Bank,  become  associated  with,  in the  capacity  of an
               employee,  director, officer, principal, agent, trustee or in any
               other  capacity  whatsoever,  any  enterprise  conducted  in  the
               trading area of the business of the Bank which  enterprise is, or
               may be deemed to be,  competitive with any business carried on by
               the Bank either  during  service with the Bank or, as of the date
               of the  termination of the Director's  service or his retirement,
               for a period of two (2) years  following  termination of service.
               In the event the  Director  violates  this  Section  3.7(b),  any
               benefits being paid to the Director shall cease being paid unless
               or until the Director  ceases  violation  of this Section  3.7(b)
               upon,  and within  thirty (30) days of,  written  notice from the
               Board to cease such activity

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               or  affiliation,  or the  Director is the  successful  party in a
               claims  or  arbitration  proceeding  brought  under  Section  8.2
               hereof.

          (c)  In the event of a termination of the Director's  service  related
               to a Change in Control pursuant to Subsection 3.4,  paragraph (b)
               of this  Subsection  3.7  shall  cease to be a  condition  to the
               performance by the Bank of its obligations under this Plan.

3.8  Breach.  In the event of any breach by the Director of the  agreements  and
     ------
     covenants contained herein, the Board of Directors of the Bank shall direct
     that any unpaid  balance of any payments to the Director under this Plan be
     suspended, and shall thereupon notify the Director of such suspensions,  in
     writing.  Thereupon,  if the Board of Directors of the Bank shall determine
     that said  breach by the  Director  has  continued  for a period of one (1)
     month following notification of such suspension, all rights of the Director
     and his Beneficiaries under this Plan, including rights to further payments
     hereunder, shall thereupon terminate.

                                   SECTION IV

                             BENEFICIARY DESIGNATION
                             -----------------------

     The Director  shall make an initial  designation  of primary and  secondary
Beneficiaries  upon execution of his Joinder  Agreement and shall have the right
to change  such  designation,  at any  subsequent  time,  by  submitting  to the
Administrator  in  substantially  the form  attached as Exhibit A to the Joinder
Agreement,  a written  designation of primary and secondary  Beneficiaries.  Any
Beneficiary  designation  made subsequent to execution of the Joinder  Agreement
shall become  effective only when receipt  thereof is acknowledged in writing by
the Administrator.

                                    SECTION V

                           DIRECTOR'S RIGHT TO ASSETS
                           --------------------------

     The rights of the Director,  any Beneficiary,  or any other person claiming
through the  Director  under this Plan,  shall be solely  those of an  unsecured
general creditor of the Bank. The Director, the Beneficiary, or any other person
claiming  through the  Director,  shall only have the

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right to receive from the Bank those payments so specified  under this Plan. The
Director agrees that he, his  Beneficiary,  or any other person claiming through
him  shall  have no  rights or  interests  whatsoever  in any asset of the Bank,
including  any  insurance  policies or  contracts  which the Bank may possess or
obtain to informally  fund this Plan.  Any asset used or acquired by the Bank in
connection with the liabilities it has assumed under this Plan, unless expressly
provided herein,  shall not be deemed to be held under any trust for the benefit
of the Director or his Beneficiaries, nor shall any asset be considered security
for the  performance of the obligations of the Bank. Any such asset shall be and
remain, a general, unpledged, and unrestricted asset of the Bank.

                                   SECTION VI

                            RESTRICTIONS UPON FUNDING
                            -------------------------

     The Bank shall have no obligation to set aside, earmark or entrust any fund
or money with which to pay its  obligations  under this Plan. The Director,  his
Beneficiaries  or any  successor in interest to him shall be and remain simply a
general unsecured  creditor of the Bank in the same manner as any other creditor
having a general  claim for matured and unpaid  compensation.  The Bank reserves
the absolute right in its sole  discretion to either purchase assets to meet its
obligations undertaken by this Plan or to refrain from the same and to determine
the extent,  nature, and method of such asset purchases.  Should the Bank decide
to purchase assets such as life insurance,  mutual funds, disability policies or
annuities,  the Bank reserves the absolute  right,  in its sole  discretion,  to
terminate  such  assets at any time,  in whole or in part.  At no time shall the
Director  be deemed  to have any lien,  right,  title or  interest  in or to any
specific  investment  or to any assets of the Bank. If the Bank elects to invest
in a life insurance, disability or annuity policy upon the life of the Director,
then the  Director  shall  assist  the Bank by freely  submitting  to a physical
examination  and by supplying such  additional  information  necessary to obtain
such insurance or annuities.

                                   SECTION VII
                     ALIENABILITY AND ASSIGNMENT PROHIBITION
                     ---------------------------------------

     Neither the  Director  nor any  Beneficiary  under this Plan shall have any
power or right to transfer, assign, anticipate,  hypothecate, mortgage, commute,
modify or otherwise  encumber in

                                       13
<page>

advance any of the benefits payable hereunder, nor shall any of said benefits be
subject to seizure for the payment of any debts, judgments,  alimony or separate
maintenance  owed by the Director or his  Beneficiary,  nor be  transferable  by
operation of law in the event of  bankruptcy,  insolvency or  otherwise.  In the
event  the  Director  or any  Beneficiary  attempts  assignment,  communication,
hypothecation,  transfer  or  disposal  of the  benefits  hereunder,  the Bank's
liabilities shall forthwith cease and terminate.

                                  SECTION VIII

                                 ACT PROVISIONS
                                 --------------

8.1  Named Fiduciary and Administrator. The Bank, as Administrator, shall be the
     ---------------------------------
     "Named Fiduciary" of this Plan, as defined under the Act. As Administrator,
     the  Bank  shall  be   responsible   for  the   management,   control   and
     administration  of the Plan as established  herein.  The  Administrator may
     delegate  to others  certain  aspects  of the  management  and  operational
     responsibilities of the Plan,  including the employment of advisors and the
     delegation of ministerial duties to qualified individuals.

8.2  Claims  Procedure and  Arbitration.  In the event that benefits  under this
     ----------------------------------
     Plan are not paid to the Director (or to his Beneficiary in the case of the
     Director's  death) or the payment of benefits is curtailed  for reasons set
     forth in Sections  3.7(a) or 3.7(b) and such claimant  feels that he or she
     is entitled to receive such benefits,  then a written claim must be made to
     the  Administrator  within  sixty  (60)  days  from the date  payments  are
     refused. The Bank and its Board of Directors shall review the written claim
     and,  if the claim is denied,  in whole or in part,  they shall  provide in
     writing,  within ninety (90) days of receipt of such claim,  their specific
     reasons for such denial,  reference to the  provisions  of this Plan or the
     Joinder  Agreement  upon  which the  denial is  based,  and any  additional
     material or information necessary to perfect the claim. Such writing by the
     Bank and its Board of Directors shall further indicate the additional steps
     which must be undertaken by claimants if an additional  review of the claim
     denial is desired.

     If claimants desire a second review, they shall notify the Administrator in
     writing  within sixty (60) days of the first claim  denial.  Claimants  may
     review this Plan, the Joinder  Agreement or any documents  relating thereto
     and submit any issues and comments,  in

                                       14
<page>

     writing,   they  may  feel  appropriate.   In  its  sole  discretion,   the
     Administrator  shall then  review the  second  claim and  provide a written
     decision  within  sixty (60) days of receipt of such claim.  This  decision
     shall  state the  specific  reasons  for the  decision  and  shall  include
     reference to specific provisions of this Plan or the Joinder Agreement upon
     which the decision is based.

     If claimants  continue to dispute the benefit  denial based upon  completed
     performance  of this Plan and the  Joinder  Agreement  or the  meaning  and
     effect of the terms and conditions  thereof,  then claimants may submit the
     dispute to mediation,  administered by the American Arbitration Association
     ("AAA") (or a mediator  selected by the  parties)  in  accordance  with the
     AAA's  Commercial  Mediation  Rules.  If  mediation  is not  successful  in
     resolving the dispute,  it shall be settled by arbitration  administered by
     the AAA under its Commercial  Arbitration  Rules, and judgment on the award
     rendered  by  the   arbitrator(s)  may  be  entered  in  any  court  having
     jurisdiction thereof.

                                   SECTION IX

                                  MISCELLANEOUS
                                  -------------

9.1  No Effect on Director's  Rights.  Nothing contained herein will confer upon
     -------------------------------
     the  Director the right to be retained in the service of the Bank nor limit
     the  right of the Bank to deal  with the  Director  without  regard  to the
     existence of the Plan.

9.2  State Law. The Plan is established  under, and will be construed  according
     ---------
     to,  the laws of the  State of  Indiana,  to the  extent  such laws are not
     preempted by the Act and valid regulations published thereunder.

9.3  Construction and Severability. This Plan is adopted following the enactment
     -----------------------------
     of Code Section 409A and is intended to be  construed  consistent  with the
     requirements of that Section,  the Treasury  regulations and other guidance
     issued  thereunder.  If any provision of the Plan shall be determined to be
     inconsistent therewith for any reason, then the Plan shall be construed, to
     the maximum extent  possible,  to give effect to such provision in a manner
     that is consistent with Code Section 409A, and if such  construction is not
     possible,  as if such provision had never been included.  In the event that
     any of the

                                       15
<page>

     provisions of this Plan or portion  thereof are held to be  inoperative  or
     invalid by any court of  competent  jurisdiction,  then:  (1) insofar as is
     reasonable, effect will be given to the intent manifested in the provisions
     held  to  be  invalid  or   inoperative,   and  (2)  the   invalidity   and
     enforceability of the remaining provisions will not be affected thereby.

9.4  Incapacity of Recipient.  In the event the Director is declared incompetent
     -----------------------
     and a  conservator  or other  person  legally  charged with the care of his
     person or Estate is  appointed,  any benefits  under the Plan to which such
     Director  is entitled  shall be paid to such  conservator  or other  person
     legally charged with the care of his person or Estate.

9.5  Unclaimed Benefit. The Director shall keep the Bank informed of his current
     -----------------
     address and the current address of his Beneficiaries. The Bank shall not be
     obligated to search for the  whereabouts of any person.  If the location of
     the  Director  is not made  known to the Bank as of the date upon which any
     payment of any benefits may first be made,  the Bank shall delay payment of
     the  Director's  benefit  payment(s)  until the location of the Director is
     made known to the Bank;  however,  the Bank shall only be obligated to hold
     such benefit payment(s) for the Director until the expiration of thirty-six
     (36) months.  Upon expiration of the thirty-six (36) month period, the Bank
     may discharge its obligation by payment to the Director's  Beneficiary.  If
     the location of the Director's Beneficiary is not made known to the Bank by
     the end of an additional two (2) month period  following  expiration of the
     thirty-six  (36) month period,  the Bank may  discharge  its  obligation by
     payment to the  Director's  Estate.  If there is no Estate in  existence at
     such time or if such fact cannot be  determined  by the Bank,  the Director
     and his Beneficiary(ies) shall thereupon forfeit any rights to the balance,
     if any, of any benefits provided for such Director and/or Beneficiary under
     this Plan.

9.6  Limitations on Liability.  Notwithstanding any of the preceding  provisions
     ------------------------
     of the Plan, no  individual  acting as an employee or agent of the Bank, or
     as a member of the Board of  Directors  shall be  personally  liable to the
     Director  or any other  person for any claim,  loss,  liability  or expense
     incurred in connection with the Plan.

                                       16
<page>

9.7  Gender.  Whenever  in this Plan words are used in the  masculine  or neuter
     ------
     gender,  they shall be read and construed as in the masculine,  feminine or
     neuter gender, whenever they should so apply.

9.8  Effect on Other  Corporate  Benefit Plans.  Nothing  contained in this Plan
     -----------------------------------------
     shall affect the right of the Director to  participate  in or be covered by
     any other corporate benefit available to Directors of the Bank constituting
     a part of the Bank's existing or future compensation structure.

9.9  Suicide.  Notwithstanding  anything  to the  contrary  in  this  Plan,  the
     -------
     benefits otherwise provided herein shall not be payable and this Plan shall
     become null and void with respect to the Director if the  Director's  death
     results from  suicide,  whether  sane or insane,  within  twenty-four  (24)
     months after the execution of his Joinder Agreement.

9.10 Inurement.  This Plan shall be binding  upon and shall inure to the benefit
     ---------
     of the Bank, its successors and assigns, and the Director,  his successors,
     heirs, executors, administrators, and Beneficiaries.

9.11 Headings. Headings and sub-headings in this Plan are inserted for reference
     --------
     and convenience only and shall not be deemed a part of this Plan.

                                    SECTION X

                              AMENDMENT/REVOCATION
                              --------------------

         This Plan shall not be amended, modified or revoked at any time, in
whole or part, as to any Director, without the mutual written consent of the
Director and the Bank, and such mutual consent shall be required even if the
Director is no longer in the service of the Bank.

                                   SECTION XI

                                    EXECUTION
                                    ---------

11.1 This Plan sets forth the entire  understanding  of the parties  hereto with
     respect  to  the  transactions   contemplated   hereby,  and  any  previous
     agreements  or  understandings  between the parties  hereto  regarding  the
     subject matter hereof are merged into and superseded by this Plan.

                                       17
<page>

11.2 This Plan shall be  executed  in  triplicate,  each copy of which,  when so
     executed and  delivered,  shall be an original,  but all three copies shall
     together constitute one and the same instrument.

                  [Remainder of Page Intentionally Left Blank]

                                       18

<PAGE>

         IN WITNESS WHEREOF, the Bank has caused this Plan to be executed on the
day and date first above written.

ATTEST:                                     DEARBORN SAVINGS ASSOCIATION, F.A.

/s/ Robert P. Sonntag, Chrm.             By:   /s/ Edward Fischer
----------------------------                  ----------------------------------
                                         Its: President
                                              ----------------------------------<PAGE>
                                                                    Exhibit 10.1

                              EMPLOYMENT AGREEMENT

          EMPLOYMENT AGREEMENT (the "Agreement") dated as of August 31, 2005
(the "Date of Hire") by and between Celanese Corporation (the "Company") and
John J. Gallagher III (the "Executive").

          The Company desires to employ Executive and to enter into an agreement
embodying the terms of such employment;

          Executive desires to accept such employment and enter into such an
agreement;

          In consideration of the premises and mutual covenants herein and for
other good and valuable consideration, the parties agree as follows:

          1.  Term of Employment. Subject to the provisions of Section 7 of
this Agreement, Executive shall be employed by the Company for a period
commencing as of the Date of Hire and ending on December 31, 2007 (the
"Employment Term") on the terms and subject to the conditions set forth in this
Agreement. A termination of Executive's employment with the Company as a result
of expiration of the Employment Term shall be referred to as a "Non-Renewal" of
this Agreement.

          2.  Position.

               a.  During the Employment Term, Executive shall serve as the
Company's Executive Vice President, Chief Financial Officer. In such position,
Executive shall have such duties and authority as shall be determined from time
to time by the Board of Directors of the Company (the "Board") and the Chief
Executive Officer of the Company.

               b.  During the Employment Term, Executive will devote
Executive's full business time and best efforts to the performance of
Executive's duties hereunder and will not engage in any other business,
profession or occupation for compensation or otherwise which would conflict or
interfere with the rendition of such services either directly or indirectly,
without the prior written consent of the Board; provided that nothing herein
shall preclude Executive, (i) subject to the prior approval of the Board, from
accepting appointment to or continue to serve on any board of directors or
trustees of any business corporation or any charitable organization or
(ii) from participating in charitable activities or managing personal
investments; provided in each case, and in the aggregate, that such activities
do not conflict or interfere with the performance of Executive's duties
hereunder or conflict with Section 8.

          3.  Base Salary. During the Employment Term, the Company shall pay
Executive a base salary at the annual rate of $675,000, payable in regular
installments in accordance with the Company's usual payment practices.
Executive shall be entitled to such increases (but no decreases) in Executive's
base salary, if any, as may be determined from time to time in the sole
discretion of the Board. Executive's annual base salary, as in effect from time
to time, is hereinafter referred to as the "Base Salary".

<PAGE>
     4. Annual Bonus. With respect to each full calendar year during the
Employment Term, Executive shall be eligible to earn an annual bonus award (an
"Annual Bonus") targeted at eighty percent (80%) of Executive's Base Salary
(the "Target"), payout to range from 0-200% of Target, based upon the
achievement of performance targets established by the Board, Executive's 2005
Bonus payable in 2006 will be guaranteed at Target and will be prorated based
upon the Executive's Date of Hire.

     5. Employee Benefits. During the Employment Term, Executive shall be
entitled to participate in the Company's compensation and employee benefit
plans (other than annual bonus and severance plans) as in effect from time to
time (collectively "Employee Benefits"), on the same basis as those benefits
are generally made available to other senior executives of the Company.

     6. Business Expenses. During the Employment Term, reasonable business
expenses incurred by Executive in the performance of Executive's duties
hereunder shall be reimbursed by the Company in accordance with Company
policies.

     7. Termination. The Employment Term and Executive's employment hereunder
may be terminated by either party at any time for any reason; provided that
Executive will be required to give the Company at least 30 days advance written
notice of any resignation of Executive's employment. Notwithstanding any other
provision of this Agreement, the provisions of this Section 7 shall exclusively
govern Executive's rights upon termination of employment with the Company and
its affiliates; provided, however, that the terms and conditions of the other
written agreements between the Company and Executive shall be followed insofar
as they provide supplemental rights or privileges with respect to equity or
deferred compensation.

          a.   By the Company For Cause or By Executive Resignation Without
Good Reason.

     (i) The Employment Term and Executive's employment hereunder may be
terminated by the Company for Cause (as defined below) and shall terminate
automatically upon Executive's resignation without Good Reason (as defined in
Section 7(c)).

     (ii) For purposes of this Agreement, "Cause" shall mean (A) Executive's
willful failure to perform Executive's duties hereunder (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 Executive of such failure,
(B) conviction of, or a plea of nolo contendere to, (x) a felony (other than
traffic-related) 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, (C) Executive's willful malfeasance or willful
misconduct which is demonstrably injurious to the Company, (D) any act of fraud
by Executive or (E) Executive's breach of the provisions of Sections 8 or 9 of
this Agreement.

     (iii) If Executive's employment is terminated by the Company for Cause, or
if Executive resigns without Good Reason, Executive shall be entitled to
receive:

                                       2
<PAGE>
               (A) the Base Salary through the date of termination;

               (B) any Annual Bonus earned but unpaid as of the date of
termination for any previously completed fiscal year;

               (C) reimbursement for any unreimbursed business expenses properly
incurred by Executive in accordance with Company policy prior to the date of
Executive's termination; and

               (D) such Employee Benefits, if any, as to which Executive may be
entitled under the employee benefit plans of the Company or its affiliates (the
amounts described in clauses (A) through (D) hereof being referred to as the
"Accrued Rights").

     Following such termination of Executive's employment by the Company for
Cause or resignation by Executive without Good Reason, except as set forth in
this Section 7(a)(iii), Executive shall have no further rights to any
compensation or any other benefits under this Agreement.

               b. Disability or Death.

          (i) The Employment Term and Executive's employment hereunder shall
terminate upon Executive's death and may be terminated by the Company if
Executive becomes physically or mentally incapacitated and is therefore unable
for a period of six (6) consecutive months or for an aggregate of nine
(9) months in any twenty-four (24) consecutive month period to perform
Executive's duties (such incapacity is hereinafter referred to as "Disability").

          (ii) Upon termination of Executive's employment hereunder for either
Disability or death, Executive or Executive's estate (as the case may be) shall
be entitled to receive the Accrued Rights.

     Following Executive's termination of employment due to death or Disability,
except as set forth in this Section 7(b)(ii), Executive shall have no further
rights to any compensation or any other benefits under this Agreement.

               c. By the Company Without Cause or Resignation by
Executive for Good Reason.

          (i) The Employment Term and Executive's employment hereunder may be
terminated by the Company without Cause or by Executive's resignation for Good
Reason; provided, however, that Non-Renewal of this Agreement shall be treated
as a termination of employment during the Employment Term without Cause except
in the event of (a) Cause; or (b) Executive's rejection of the offer of
continued employment on terms and conditions not materially less advantageous to
Executive as those in effect immediately prior to the Non-Renewal of this
Agreement (a "Non-Renewal without Cause"). In addition, a Non-Renewal without
Cause shall be treated as a Good Termination for purposes of the Company's
Deferred

                                       3
<PAGE>
Compensation Plan, 2004 Stock Incentive Plan or any other plans or programs of
the Company that employs a Good Termination definition or employs any
comparable concept.

         (ii)  For purposes of this Agreement, "Good Reason" shall mean (A) any
reduction in Executive's Base Salary or Annual Bonus opportunity or (B) any
substantial diminution in Executive's position or duties, adverse change in
reporting lines or assignment of duties materially inconsistent with
Executive's position (other than in connection with an increase in
responsibility or a promotion); or (C) a change in the location of the
principal offices of the Company after which the Company requires your
relocation out of the Dallas-Fort Worth metropolitan area; provided that the
events described in clauses (A), (B), or (C) of this Section 7(c)(ii) shall
constitute Good Reason only if the Company fails to cure such event within 30
days after receipt from Executive of written notice of the event which
constitutes Good Reason.

         (iii) If Executive's employment is terminated by the Company without
Cause (other than by reason of death or Disability) or if Executive resigns for
Good Reason, Executive shall be entitled to receive:

               (A)  the Accrued Rights;

               (B)  a pro rata portion of any Annual Bonus, if any, that
          Executive would have been entitled to receive pursuant to Section 4
          hereof in such year based upon the percentage of the fiscal year that
          shall have elapsed through the date of Executive's termination of
          employment, payable when such Annual Bonus would have otherwise been
          payable had Executive's employment not terminated, and

               (C)  subject to Executive's continued compliance with the
          provisions of Sections 8 and 9, (x) continued payment of the Base
          Salary until twelve months after the date of such termination and (y)
          payment of Executive's Target Annual Bonus for the year of
          termination, payable over the twelve month period after the date of
          such termination, in accordance with the Company's usual payroll
          practice; provided that the aggregate amount described in this clause
          (C) shall be reduced by the present value of any other cash severance
          or termination benefits payable to Executive under any other plans,
          programs or arrangements of the Company or its affiliates.

                         Following Executive's termination of employment by the
Company without Cause (other than by reason of Executive's death or Disability)
or by Executive's resignation for Good Reason, except as set forth in this
Section 7(c)(iii), Executive shall have no further rights to any compensation or
any other benefits under this Agreement.

                              d.   Continued Employment Beyond the Expiration
of the Employment Term. Unless the parties otherwise agree in writing,
continuation of Executive's employment with the Company beyond the expiration
of the Employment Term shall be deemed an employment at-will and shall not be
deemed to extend any of the provisions of this Agreement and Executive's
employment may thereafter be terminated at will by either Executive or the
Company; provided that the provisions of Sections 8, 9 and 10 of this Agreement
shall survive any termination of this Agreement or Executive's termination of
employment hereunder.

                                       4
<PAGE>
          e.        Notice of Termination. Any purported termination of
employment by the Company or by Executive (other than due to Executive's death)
shall be communicated by written Notice of Termination to the other party hereto
in accordance with Section 11(g) hereof. For purposes of this Agreement, a
"Notice of Termination" shall mean a notice which shall indicate the specific
termination provision in this Agreement relied upon and shall set forth in
reasonable detail the facts and circumstances claimed to provide a basis for
termination of employment under the provision so indicated.

          f.        Board/Committee Resignation. Upon termination of Executive's
employment for any reason, Executive agrees to resign, as of the date of such
termination and to the extent applicable, from the Board (and any committees
thereof) and the Board of Directors (and any committees thereof) of any of the
Company's affiliates.

     8.  Non-Competition.

          a.        Executive acknowledges and recognizes the highly competitive
nature of the businesses of the Company and its affiliates and accordingly
agrees as follows:

     (1)            During the Employment Term and, for a period of one year
following the date Executive ceases to be employed by the Company (the
"Restricted Period"), Executive will not, whether on Executive's own behalf or
on behalf of or in conjunction with any person, firm, partnership, joint
venture, association, corporation or other business organization, entity or
enterprise whatsoever ("Person"), directly or indirectly solicit or assist in
soliciting in competition with the Company, the business of any client or
prospective client:

          (i)       with whom Executive had personal contact or dealings on
                    behalf of the Company during the one year period preceding
                    Executive's termination of employment;

          (ii)      with whom employees reporting to Executive have had personal
                    contact or dealings on behalf of the Company during the
                    one-year immediately preceding the Executive's termination
                    of employment; or

          (iii)     for whom Executive had direct or indirect responsibility
                    during the one-year period immediately preceding Executive's
                    termination of employment.

     (2)  During the Restricted Period, Executive will not directly or
          indirectly:

          (i)       engage in any business that competes with the business of
                    the Company or its affiliates (including, without
                    limitation, businesses which the Company or its affiliates
                    have specific plans to conduct in the future and as to which
                    Executive is aware of such planning) (a "Competitive
                    Business");

                                       5
<PAGE>
               (ii)   enter the employ of, or render any services to, any Person
                      (or any division or controlled or controlling affiliate of
                      any Person) who or which engages in a Competitive
                      Business;

               (iii)  acquire a financial interest in, or otherwise become
                      actively involved with, any Competitive Business, directly
                      or indirectly, as an individual, partner, shareholder,
                      officer, director, principal, agent, trustee or
                      consultant; or

               (iv)   interfere with, or attempt to interfere with, business
                      relationships (whether formed before, on or after the date
                      of this Agreement) between the Company or its affiliates
                      and customers, clients, supplier's partners, members or
                      investors of the Company or its affiliates.

          (3)         Notwithstanding anything to the contrary in this
Agreement, Executive may directly or indirectly own, solely as an investment,
securities of any Person engaged in the business of the Company or its
affiliates which are publicly traded on a national or regional stock exchange
or on the over-the-counter market if Executive (i) is not a controlling person
of, or a member of a group which controls, such person and (ii) does not,
directly or indirectly, own 5% or more of any class of securities of such
Person.

          (4)         During the Restricted Period, Executive will not, whether
on Executive's own behalf or on behalf of or in conjunction with any Person,
directly or indirectly:

               (i)    solicit or encourage any employee of the Company or its
                      affiliates to leave the employment of the Company or its
                      affiliates (other than as a result of a general
                      advertisement of employment made by Executive's subsequent
                      employer or business, not directed at any such employee);
                      or

               (ii)   hire any such employee who was employed by the Company or
                      its affiliates as of the date of Executive's termination
                      of employment with the Company or who left the employment
                      of the Company or its affiliates coincident with, or
                      within one year prior to or after, the termination of
                      Executive's employment with the Company.

          (5)         During the Restricted Period, Executive will not,
directly or indirectly, solicit or encourage to cease to work with the Company
or its affiliates any consultant then under contract with the Company or its
affiliates.

               b.     It is expressly understood and agreed that although
Executive and the Company consider the restrictions contained in this Section 8
to be reasonable, if a final judicial determination is made by a court of
competent jurisdiction that the time or territory or any other restriction
contained in this Agreement is an unenforceable restriction against Executive,
the provisions of this Agreement shall not be rendered void but shall be deemed

                                       6
<PAGE>
amended to apply as to such maximum time and territory and to such maximum
extent as such court may judicially determine or indicate to be enforceable.
Alternatively, if any court of competent jurisdiction finds that any
restriction contained in this Agreement is unenforceable, and such restriction
cannot be amended so as to make it enforceable, such finding shall not affect
the enforceability of any of the other restrictions contained herein.

          9.  Confidentiality: Intellectual Property.

               a.  Confidentiality.

              (i) Executive will not at any time (whether during or after
Executive's employment with the Company) (x) retain or use for the benefit,
purposes or account of Executive or any other Person; or (y) disclose, divulge,
reveal, communicate, share, transfer or provide access to any Person outside the
Company (other than its professional advisers who are bound by confidentiality
obligations), any non-public, proprietary or confidential information --
including without limitation trade secrets, know-how, research and development,
software, databases, inventions, processes, formulae, technology, designs and
other intellectual property, information concerning finances, investments,
profits, pricing, costs, products, services, vendors, customers, clients,
partners, investors, personnel, compensation, recruiting, training, advertising,
sales, marketing, promotions, government and regulatory activities and approvals
-- concerning the past, current or future business, activities and operations of
the Company, its subsidiaries or affiliates and/or any third party that has
disclosed or provided any of same to the Company on a confidential basis
("Confidential Information") without the prior written authorization of the
Board.

              (ii) "Confidential Information" shall not include any information
that is (a) generally known to the industry or the public other than as a result
of Executive's breach of this covenant; (b) made legitimately available to
Executive by a third party without breach of any confidentiality obligation; or
(c) required by law to be disclosed; provide that Executive shall give prompt
written notice to the Company of such requirement, disclose no more information
than is so required, and cooperate with any attempts by the Company to obtain a
protective order or similar treatment.

              (iii) Upon termination of Executive's employment with the Company
for any reason, Executive shall (x) cease and not thereafter commence use of any
Confidential Information or intellectual property (including without limitation,
any patent, invention, copyright, trade secret, trademark, trade name, logo,
domain name or other source indicator) owned or used by the Company, its
subsidiaries or affiliates; (y) immediately destroy, delete, or return to the
Company, at the Company's option, all originals and copies in any form or medium
(including memoranda, books, papers, plans, computer files, letters and other
data) in Executive's possession or control (including any of the foregoing
stored or located in Executive's office, home, laptop or other computer, whether
or not Company property) that contain Confidential Information or otherwise
relate to the business of the Company, its affiliates and subsidiaries, except
that Executive may retain only those portions of any personal notes, notebooks
and diaries that do not contain any Confidential Information; and (z) notify and
fully

                                       7
<PAGE>
                                                                               8

cooperate with the Company regarding the delivery or destruction of any other
Confidential Information of which Executive is or becomes aware.

                b.   Intellectual Property.

          (i)   If Executive has created, invented, designed, developed,
contributed to or improved any works of authorship, inventions, intellectual
property, materials, documents or other work product (including without
limitation, research, reports, software, databases, systems, applications,
presentations, textual works, content, or audiovisual materials) ("Works"),
either alone or with third parties, prior to Executive's employment by the
Company, that are relevant to or implicated by such employment ("Prior Works"),
Executive hereby grants the Company a perpetual, non-exclusive, royalty-free,
worldwide, assignable, sublicensable license under all rights and intellectual
property rights (including rights under patent, industrial property, copyright,
trademark, trade secret, unfair competition and related laws) therein for all
purposes in connection with the Company's current and future business. A list
of all such Works as of the date hereof is attached hereto as Exhibit A.

          (ii)  If Executive creates, invents, designs, develops, contributes to
or improves any Works, either alone or with third parties, at any time during
Executive's employment by the Company and within the scope of such employment
and/or with the use of any the Company resources ("Company Works"), Executive
shall promptly and fully disclose same to the Company and hereby irrevocably
assigns, transfers and conveys, to the maximum extent permitted by applicable
law, all rights and intellectual property rights therein (including rights
under patent, industrial property, copyright, trademark, trade secret, unfair
competition and related laws) to the Company to the extent ownership of any
such rights does not vest originally in the Company.

          (iii) Executive agrees to keep and maintain adequate and current
written records (in the form of notes, sketches, drawings, and any other form
or media requested by the Company) of all Company Works. The records will be
available to and remain the sole property and intellectual property of the
Company at all times.

          (iv)  Executive shall take all requested actions and execute all
requested documents (including any licenses or assignments required by a
government contract) at the Company's expense (but without further
remuneration) to assist the Company in validating, maintaining, protecting,
enforcing, perfecting, recording, patenting or registering any of the Company's
rights in the Prior Works and Company Works. If the Company is unable for any
other reason to secure Executive's signature on any document for this purpose,
then Executive hereby irrevocably designates and appoints the Company and its
duly authorized officers and agents as Executive's agent and attorney in fact,
to act for and in Executive's behalf and stead to execute any documents and to
do all other lawfully permitted acts in connection with the foregoing.

          (v)   Executive shall not improperly use for the benefit of, bring to
any premises of, divulge, disclose, communicate, reveal, transfer or provide
access to, or share with the Company any confidential, proprietary or
non-public information or intellectual property

                                       8
<PAGE>
                                                                               9

relating to a former employer or other third party without the prior written
permission of such third party. Executive hereby indemnifies, holds harmless and
agrees to defend the Company and its officers, directors, partners, employees,
agents and representatives from any breach of the foregoing covenant. Executive
shall comply with all relevant policies and guidelines of the Company,
including regarding the protection of confidential information and intellectual
property and potential conflicts of interest. Executive acknowledges that the
Company may amend any such policies and guidelines from time to time, and that
Executive remains at all times bound by their most current version.

          (vi)  The provisions of Section 9 shall survive the termination of
Executive's employment for any reason.

     10.  Specific Performance.  Executive acknowledges and agrees that the
Company's remedies at law for a breach or threatened breach of any of the
provisions of Section 8 or Section 9 would be inadequate and the Company would
suffer irreparable damages as a result of such breach or threatened breach. In
recognition of this fact, Executive agrees that, in the event of such a breach
or threatened breach, in addition to any remedies at law, the Company, without
posting any bond, shall be entitled to cease making any payments or providing
any benefit otherwise required by this Agreement and obtain equitable relief in
the form of specific performance, temporary restraining order, temporary or
permanent injunction or any other equitable remedy which may then be available.

     11.  Miscellaneous.

               a.  Governing Law.  This Agreement shall be governed by and
construed in accordance with the laws of the State of New York, without regard
to conflicts of laws principles thereof.

               b.  Entire Agreement/Amendments.  This Agreement contains the
entire understanding of the parties with respect to the employment of Executive
by the Company. Other than as specifically set forth in other written
agreements, between the parties, there are no restrictions, agreements,
promises, warranties, covenants or undertakings between the parties with respect
to the subject matter herein other than those expressly set forth herein. This
Agreement may not be altered, modified, or amended except by written instrument
signed by the parties hereto.

               c.  No Waiver.  The failure of a party to insist upon strict
adherence to any term of this Agreement on any occasion shall not be considered
a waiver of such party's rights or deprive such party of the right thereafter
to insist upon strict adherence to that term or any other term of this
Agreement.

               d.  Severability.  In the event that any one or more of the
provisions of this Agreement shall be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the
remaining provisions of this Agreement shall not be affected thereby.

                                       9
<PAGE>
               e.   Assignment. This Agreement, and all of Executive's rights
and duties hereunder, shall not be assignable or delegable by Executive. Any
purported assignment or delegation by Executive in violation of the foregoing
shall be null and void ab initio and of no force and effect. This Agreement may
be assigned by the Company to a person or entity which is an affiliate or
successor in interest to substantially all of the business operations of the
Company. Upon such assignment, the rights and obligations of the Company
hereunder shall become the rights and obligations of such affiliate or
successor person or entity.

               f.   Successor; Binding Agreement. This Agreement shall inure to
the benefit of and be binding upon personal or legal representatives,
executors, administrators, successors, heirs, distributees, devisees and
legatees.

               g.   Notice. For the purpose of this Agreement, notices and all
other communications provided for in the Agreement shall be in writing and
shall be deemed to have been duly given when delivered by hand or overnight
courier or three days after it has been mailed by United States registered
mail, return receipt requested, postage prepaid, addressed to the respective
addresses set forth below in this Agreement, or to such other address as either
party may have furnished to the other in writing in accordance herewith, except
that notice of change of address shall be effective only upon receipt.

     If to the Company:

     1601 West LBJ Freeway
     Dallas, TX 75234-6034
     Attention: General Counsel

     If to Executive:

     To the most recent address of Executive set forth in the personnel records
     of the Company.

               h.   Prior Agreements. This Agreement supersedes all prior
agreements and understandings (including verbal agreements) between Executive
and the Company and/or its affiliates regarding the terms and conditions of
Executive's employment with the Company and/or its affiliates, including,
without limitation, the offer letter between Executive and the Company (or its
predecessor) dated as of the Date of Hire.

               i.   Cooperation. Executive shall provide Executive's reasonable
cooperation in connection with any action or proceeding (or any appeal from any
action or proceeding) which relates to events occurring during the Executive's
employment hereunder. This provision shall survive any termination of this
Agreement.

               j.   Withholding Taxes. The Company may withhold from any
amounts payable under this Agreement such Federal, state and local taxes as may
be required to be withheld pursuant to any applicable law or regulation.

                                       10
<PAGE>
                    k.   Counterparts. This Agreement may be signed in
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

                                       11
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement
as of the day and year first above written.

CELANESE CORPORATION                              John J. Gallagher III

/s/ David A. Loeser                               /s/ John J. Gallagher III
------------------------------                    ------------------------------
By:    David A. Loeser                                                   8/30/05
Title: Sr. Vice-President Human Resources
       and Communications

                                       12

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