Document:

EX-10.4

    Exhibit 10.4

    
    

 

    AGREEMENT
    AND GENERAL RELEASE

 

    Celanese Corporation, its Subsidiaries and its Affiliates,
    (“Employer” or “Company”), 1601 West
    LBJ Freeway, Dallas, Texas 75234 and William P. Antonace, his
    heirs, executors, administrators, successors, and assigns
    (“Employee”), agree that:

 

    1. Last Day of Employment (Separation
    Date).  The last day of employment with
    Celanese is February 29, 2008.

 

    2. Consideration.  In consideration
    for signing this Agreement and General Release and compliance
    with the promises made herein, Employer and Employee agree:

 

    a. Voluntary Resignation.  Employee
    agrees to voluntarily resign from the Employer effective
    February 29, 2008.

 

    b. Separation Pay.  Pursuant to the
    terms of your offer letter dated April 6, 2007, the Company
    will pay your base salary plus target bonus for a period of one
    (1) year; or a total payment of $467,500, minus lawful
    deductions. Such amount shall be paid in substantially equal
    (bi-weekly) installments that commence for the period beginning
    March 1, 2008 and ending February 28, 2009, subject to
    execution of this Agreement.

 

    c. Bonus.  To the extent the
    Employer pays bonuses under its bonus plan for 2007, Employee
    will receive a bonus payout for 2007. The 2007 bonus payout will
    be based on Company and Employee’s individual performance,
    where the final amount paid will be based on a 0.5 modifier. The
    2007 bonus payout will be $109,009, minus lawful deductions and
    will be paid at the same time as other similarly situated
    executives receive their 2007 bonus payouts, which is currently
    planned for March 14, 2008. Employee will not receive a
    performance bonus payout for 2008.

 

    d. Restricted Stock Unit
    Grant.  With respect to the Performance-Based
    Restricted Stock Unit (RSU) Agreement made effective between the
    Company and the Employee as of April 25, 2007, Employee
    will be eligible to vest in not more than 7,680 RSUs pursuant to
    section 3(d)(ii) of such RSU agreement, as if employment
    with the Company was terminated without Cause (as defined in the
    RSU agreement) effective February 29, 2008, in the amounts
    and on the vesting dates outlined in the attached Exhibit
    “A”, where the actual number of eligible RSUs that
    ultimately vest on each vesting date will be determined based on
    the extent to which the Performance Targets are achieved for
    such Performance Period according to the terms and conditions of
    the RSU agreement.

 

    e. Relocation Costs.  Employer
    waives any obligation for the Employee to reimburse the Company
    for relocation costs paid by the Company.

 

    f. 401(k) Vesting.  As of
    January 1, 2008, Employee is vested in the Company 401(k).

 

    g. Unused Vacation.  The Employer
    will pay to Employee wages for prorated unused vacation for 2008
    and any vacation carried over from 2007.

 

    h. Company Benefit
    Plans.  Healthcare & dental coverage
    will continue until the last day of the month in which Employee
    separates, in this case February 29, 2008, according to
    Employee’s current health & dental plan
    elections. All other normal company programs (e.g., life
    insurance, long term disability, 401(k) contributions, etc.)
    will continue through the date of resignation.

 

    i. COBRA Coverage.  The Employer
    will pay the Employee’s healthcare & dental COBRA
    premiums for a period of three (3) months following the
    date of resignation, or through May 31, 2008. Thereafter,
    Employee shall be entitled to continue receiving such
    healthcare & dental plan coverage via COBRA for the
    remainder of the COBRA period at Employee’s expense.

    

    1

 

    j. Outplacement Services.  The
    Employer will pay the cost for Employee to participate in the
    Executive Job Search Program offered by Challenger,
    Gray & Christmas for outplacement services for a
    period of up to one year following the date of resignation, or
    through February 28, 2009.

 

    k. Unemployment.  Employer will not
    contest any unemployment claims made by the Employee.

 

    l. Return of Company
    Property.  Employee will surrender to
    Employer, on his last day of employment, all company materials,
    including, but not limited to his company car, laptop computer,
    phone, credit card, calling cards, etc. Employee will be
    responsible for resolving any outstanding balances on the
    company credit card.

 

    3. No Consideration Absent Execution of this
    Agreement.  Employee understands and agrees
    that he/she
    would not receive the monies
    and/or
    benefits specified in Paragraph “2” above, unless the
    Employee signs this Agreement and General Release on the
    signature page without having revoked this Agreement and General
    Release pursuant to paragraph 15 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.,
    U.K. and Germany, the Employer, 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
    “Employer”), of and from any and all claims, known and
    unknown, asserted and unasserted, Employee has or may have
    against Employer as of the date of execution of this Agreement
    and General Release, 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;

	 
	 	    • 
	
    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 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;
    or any law, regulation or ordinance of a foreign country,
    including but not limited to the Federal Republic of
    Germany and the United Kingdom.

	 
	 	    • 
	
    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.

 

    5. Affirmations.  Employee affirms
    that he/she
    has not filed, caused to be filed, or presently is a party to
    any claim, complaint, or action against Employer 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”),

    

    2

 

    subject to the restriction that if any such charge is filed,
    Employee agrees not to violate the confidentiality provisions of
    this Agreement and Employee further agrees and covenants that
    should
    he/she or
    any other person, organization, or other entity file, charge,
    claim, sue or cause or permit to be filed any charge with the
    EEOC, civil action, suit or legal proceeding against the
    Employer 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
    he/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
    he/she may
    be entitled and that no other leave (paid or unpaid),
    compensation, wages, bonuses, commissions
    and/or
    benefits are due to him/her, except as provided in this
    Agreement and General Release. Employee furthermore affirms that
    he/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 and Medical
    Leave Act.

 

    6. Confidentiality.  Employee and
    Employer agree not to disclose any information regarding the
    existence or substance of this Agreement and General Release,
    except to his spouse, tax advisor, and an attorney with whom
    Employee chooses to consult regarding his consideration of this
    Agreement and General Release.

 

    Employee agrees and recognizes that any knowledge or information
    of any type whatsoever of a confidential nature relating to the
    business of the Employer 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 Employer 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 Employer or any persons
    employed or designated by the Employer), publish or make use of
    any such Confidential Information without the prior written
    consent of the Employer, except by an order of a court having
    competent jurisdiction or under subpoena from an appropriate
    government agency.

 

    7. Non-competition/Non-solicitation.  Employee
    acknowledges and recognizes the highly competitive nature of the
    business of the Employer. Without the express written permission
    of Celanese, for a period of (52) weeks, following the
    Effective Date (the “Restricted Period”), Employee
    acknowledges and agrees that
    he/she will
    not: (i) directly or indirectly solicit sales of like
    products similar to those produced or sold by Employer; 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
    (2) years, Employee will not directly or indirectly solicit
    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.

 

    8. Governing Law and
    Interpretation.  This Agreement and General
    Release 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 the Employee or Employer breaches
    any provision of this Agreement and General Release, Employee
    and Employer affirm that either may institute an action to
    specifically enforce any term or terms of this Agreement and
    General Release. Should any provision of this Agreement and
    General Release 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 and General Release in full force
    and effect.

 

    9. Non-admission of
    Wrongdoing.  The parties agree that neither
    this Agreement and General Release nor the furnishing of the
    consideration for this Release shall be deemed or construed at
    anytime for any purpose as an admission by Employer of any
    liability or unlawful conduct of any kind.

    

    3

 

    10. Neutral Reference.  If
    contacted by another organization, the Employer will only
    provide dates of employment and that the Employee voluntarily
    resigned from the Company.

 

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

 

    12. Future Cooperation after Separation
    Date.  After separation, Employee agrees to
    make reasonable efforts to assist Company including but not
    limited to: assisting with transition duties, assisting with
    issues that arise after separation of employment 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. 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, but in no event
    later than the end of the Employee’s tax year following the
    tax year in which the Employee incurs such time and expenses and
    such reimbursement obligation shall remain in effect for five
    years and the amount of expenses eligible for reimbursement
    hereunder during Employee’s tax year will not affect the
    expenses eligible for reimbursement in any other tax year.

 

    13. Injunctive Relief.  Employee
    agrees and acknowledges that the Employer will be irreparably
    harmed by any breach, or threatened breach by him of this
    Agreement and that monetary damages would be grossly inadequate.
    Accordingly, he agrees that in the event of a breach, or
    threatened breach by him of this Agreement the Employer 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.

 

    14. Review Period.  Employee is
    hereby advised he has until March 21, 2008, twenty-one
    (21) calendar days, to review this Agreement and General
    Release and to consult with an attorney prior to execution of
    this Agreement and General Release. Employee agrees that any
    modifications, material or otherwise, made to this Agreement and
    General Release do not restart or affect in any manner the
    original twenty-one (21) calendar day consideration period.

 

    15. Revocation Period and Effective
    Date.  In the event that Employee elects to
    sign and return to the Company a copy of this Agreement,
    he/she has a
    period of seven (7) days (the “Revocation
    Period”) following the date of such execution to revoke
    this Agreement and General Release, 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 the
    Employee signs this Agreement and General Release at which time
    the Revocation Period shall expire.

 

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

 

    17. Entire Agreement.  This
    Agreement and General Release sets forth the entire agreement
    between the parties hereto, and fully supersedes any prior
    obligation of the Employer to the Employee. Employee
    acknowledges that
    he/she has
    not relied on any representations, promises, or agreements of
    any kind made to him/her in connection with his decision to
    accept this Agreement and General Release, except for those set
    forth in this Agreement and General Release.

 

    18. HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL
    RELEASE, 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 AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND
    RELEASE ALL CLAIMS HE/SHE HAS OR MIGHT HAVE AGAINST EMPLOYER.

    

    4

 

    IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily
    executed this Agreement and General Release as of the date set
    forth below.

 

	 	 	 
	

    EMPLOYEE:

	
 
	
    Celanese Corporation:

	
 
	
 
	
 

	

    By: /s/  
William
    P. Antonace

    

	
 
	

    By: /s/  
Kevin
    Rogan

    

	
 
	
 
	
 

	

    Date: March 21, 2008

    

	
 
	
    Date: March 28, 2008

    

    

    5

 

    EXHIBIT A

 

    Calculation
    of the Restricted Stock Units (RSUs) Eligible for Vesting for
    William P.
    Antonace:

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	
 
	
 
	
    Calculation of RSUs Eligible for Vesting
	
 
	
 
	
 
	
 

	
 
	
 
	
    Eligible RSUs

    
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
    Eligible RSUs

    
	
 
	
 
	
 
	
 

	

    Performance Period

	
 
	
    before Separation
	
 
	
 
	
    Numerator
	
 
	
 
	
    Denominator
	
 
	
 
	
    upon
    Separation(1)

	
 
	
 
	

    Vesting Date

	
 

	 

	

    April 25, 2007 to September 30, 2008

	
 
	
 
	
    4,687 RSUs
	
 
	
 
	
 
	
    12
	
 
	
 
	
 
	
    17
	
 
	
 
	
 
	
    3,308 RSUs
	
 
	
 
	
 
	
    October 1, 2008
	
 

	

    April 25, 2007 to September 30, 2009

	
 
	
 
	
    4,687 RSUs
	
 
	
 
	
 
	
    12
	
 
	
 
	
 
	
    29
	
 
	
 
	
 
	
    1,939 RSUs
	
 
	
 
	
 
	
    October 1, 2009
	
 

	

    April 25, 2007 to September 30, 2010

	
 
	
 
	
    4,688 RSUs
	
 
	
 
	
 
	
    12
	
 
	
 
	
 
	
    41
	
 
	
 
	
 
	
    1,372 RSUs
	
 
	
 
	
 
	
    October 1, 2010
	
 

	

    April 25, 2007 to September 30, 2011

	
 
	
 
	
    4,688 RSUs
	
 
	
 
	
 
	
    12
	
 
	
 
	
 
	
    53
	
 
	
 
	
 
	
    1,061 RSUs
	
 
	
 
	
 
	
    October 1, 2011
	
 

	

    Total

	
 
	
 
	
    18,750 RSUs
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
    7,680 RSUs
	
 
	
 
	
 
	
 
	
 

 

 

    Note:

 

			
	
    (1)		
    Pursuant to the Performance-Based Restricted Stock Unit (RSU)
    Agreement made effective between the Company and William P.
    Antonace as of April 25, 2007, the percentage of RSUs
    eligible to vest at the end of each Performance Period shall be
    determined as if employment with the Company was terminated
    without Cause effective February 29, 2008, and where the
    actual number of eligible RSUs that ultimately vest on each
    vesting date will be determined based on the extent to which the
    Performance Targets are achieved for such Performance Period
    according to the terms and conditions of the RSU agreement.

    

    6EX-10.5

    Exhibit 10.5

 

    CELANESE
    CORPORATION

    2004 STOCK INCENTIVE PLAN

 

    NONQUALIFIED
    STOCK OPTION AWARD AGREEMENT

 

    THIS AWARD AGREEMENT, is made effective as of April 23,
    2008 (the “Date of Grant”), between Celanese
    Corporation (the “Company”) and Christopher
    Jensen (the “Participant”).

 

    R E C I T A
    L S:
    

 

    WHEREAS, the Company has adopted the Plan (as defined below),
    the terms of which are hereby incorporated by reference and made
    a part of this Award Agreement; and

 

    WHEREAS, the Compensation Committee (the “Committee”)
    has determined that it would be in the best interests of the
    Company and its stockholders to grant the Options provided for
    herein to the Participant pursuant to the Plan and the terms set
    forth herein;

 

    NOW, THEREFORE, in consideration of the mutual covenants
    hereinafter set forth, the parties agree as follows:

 

    1.  Definitions.  Whenever the
    following terms are used in this Award Agreement, they shall
    have the meanings set forth below. Capitalized terms not
    otherwise defined herein shall have the same meanings as in the
    Plan.

 

    (a) Cause:  “Cause” as
    defined in an employment agreement or change in control
    agreement between the Company or its subsidiaries and the
    Participant or, if not defined therein or if there is no such
    agreement, “Cause” means (i) the
    Participant’s willful failure to perform 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 the Participant of such failure, (ii) commission of
    (A) 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 (B) a
    crime involving moral turpitude, (iii) Participant’s
    willful malfeasance or willful misconduct which is demonstrably
    injurious to the Company, (iv) any act of fraud by the
    Participant or (v) the Participant’s breach of the
    provisions of any confidentiality, non-competition or
    non-solicitation to which the Participant is subject.

 

    (b) Total Disability:  Total Disability
    shall be determined by regulation of the Committee from time to
    time in its sole discretion.

 

    (c) Expiration Date:  The tenth
    anniversary of the Date of Grant.

 

    (d) Good Reason:  “Good
    Reason” as defined in an employment agreement or change
    in control agreement between the Company or its subsidiaries and
    the Participant or, if not defined therein or if there is no
    such agreement, “Good Reason” means (i) a
    substantial diminution in Participant’s position or duties;
    adverse change in reporting lines, or assignment of duties
    materially inconsistent with
    his/her
    position (other than in connection with an increase in
    responsibility or a promotion), (ii) any reduction in
    Participant’s base salary or annual bonus opportunity or
    (iii) failure of the Company to pay compensation or
    benefits when due, in each case which is not cured within
    30 days following the Company’s receipt of written
    notice from Participant describing the event constituting Good
    Reason.

 

    (e) Options:  The Option to purchase
    Shares granted under this Award Agreement.

 

    (f) Plan:  The Celanese Corporation 2004
    Stock Incentive Plan, as amended from time to time.

 

    (g) Shares:  Celanese Series A Common
    Stock available for grant under the Plan.

 

    (h) Vested Portion:  At any time, the
    portion of an Option which has become vested, as described in
    Section 3 of this Award Agreement.

 

    2. Grant of Options.  The Company hereby
    grants to the Participant the right and option to purchase
    40,000 Shares, on the terms and conditions hereinafter set
    forth. The exercise price of the Shares subject to the Options
    shall be $44.81 per Share, subject to adjustment as set forth in
    the Plan (the “Option Price”). The Options are
    intended to be nonqualified stock options, and are not intended
    to be treated as incentive stock options that comply with
    Section 422 of the Code.

 

    3. Vesting of the Options.

 

    (a) In General.  Subject to the
    Participant’s continued Employment with the Company and its
    Affiliates, the Option shall vest and become exercisable with
    respect to fifty percent (50%) of the Shares subject to such
    Option on each of October 1, 2010 and October 3, 2011.

 

    (b) Change in Control. Notwithstanding the foregoing, upon
    a Change in Control, the Option shall, to the extent not
    previously cancelled or expired, immediately become one hundred
    percent (100%) vested and exercisable.

 

    (c) Termination of Employment.

 

    (i) Other than as described in Sections 3(c)(ii), if
    the Participant’s Employment with the Company and its
    Affiliates terminates for any reason, the Option, to the extent
    not then vested and exercisable, shall expire and be immediately
    canceled by the Company without consideration.

 

    (ii) Notwithstanding Sections 3(a) and 3(c)(i), in the
    event that the Participant’s Employment is terminated
    (A) by the Company without Cause, (B) by the
    Participant with Good Reason or (C) due to the
    Participant’s death or Total Disability, to the extent not
    previously cancelled or expired, the Option shall immediately
    become vested and exercisable as to the Shares subject to the
    Option that would have otherwise vested and become exercisable
    in the calendar year in which such termination of Employment
    occurs.

 

    4. Exercise of Options.

 

    (a) Period of Exercise.  Subject to the
    provisions of the Plan and this Award Agreement, the Participant
    may exercise all or any part of the Vested Portion of an Option
    at any time prior to the Expiration Date. Notwithstanding the
    foregoing, if the Participant’s Employment terminates prior
    to the Expiration Date, the Vested Portion of an Option shall
    remain exercisable only for the period set forth below (and
    shall expire upon termination of such period):

 

    (i) Termination by the Company Without Cause, Termination
    by the Participant with Good Reason or Termination Due to Death
    or Total Disability. If the Participant’s Employment with
    the Company and its Affiliates is terminated (A) by the
    Company without Cause, (B) by the Participant with Good
    Reason or (C) due to the Participant’s death or Total
    Disability, the Participant may exercise the Vested Portion of
    the Option for a period ending on the earlier of one year
    following the date of such termination or the Expiration Date.

 

    (ii) Termination by the Participant without Good
    Reason.  If the Participant’s Employment with
    the Company and its Affiliates is terminated by the Participant
    without Good Reason, the Participant may exercise the Vested
    Portion of an Option for a period ending on the earlier of
    90 days following the date of such termination or the
    Expiration Date; and

 

    (iii) Termination by the Company for
    Cause.  If the Participant’s Employment with
    the Company and its Affiliates is terminated by the Company for
    Cause, the Vested Portion of an Option shall immediately
    terminate in full and cease to be exercisable.

 

    (b) Method of Exercise.

 

    (i) Subject to Section 4(a) of this Award Agreement,
    the Vested Portion of an Option may be exercised by delivering
    to the Company at its principal office written notice of intent
    to so exercise; provided that the Option may be exercised with
    respect to whole Shares only. Such notice shall specify the
    number of Shares for which the Option is being exercised and,
    other than as described in clause (C) of the following
    sentence, shall be accompanied by payment in full of the
    aggregate Option Price in respect of such Shares. Payment of the
    aggregate Option Price may be made (A) in cash, or its
    equivalent (e.g., a

 

    check), (B) by transferring to the Company Shares having a
    Fair Market Value equal to the aggregate Option Price for the
    Shares being purchased and satisfying such other requirements as
    may be imposed by the Committee, (C) if there is a public
    market for the Shares at the time of payment, subject to such
    rules as may be established by the Committee, through delivery
    of irrevocable instructions to a broker to sell the Shares
    otherwise deliverable upon the exercise of the Option and
    deliver promptly to the Company an amount equal to the aggregate
    Option Price or (D) by a combination of (A) and
    (B) above or such other method as approved by the
    Committee. No Participant shall have any rights to dividends or
    other rights of a stockholder with respect to the Shares subject
    to an Option until the Participant has given written notice of
    exercise of the Option, paid in full for such Shares or
    otherwise completed the exercise transaction as described in the
    preceding sentence and, if applicable, has satisfied any other
    conditions imposed pursuant to this Award Agreement.

 

    (ii) Notwithstanding any other provision of the Plan or
    this Award Agreement to the contrary, absent an available
    exemption to registration or qualification, an Option may not be
    exercised prior to the completion of any registration or
    qualification of the Option or the Shares under applicable state
    and federal securities or other laws, or under any ruling or
    regulation of any governmental body or national securities
    exchange that the Committee shall in its sole reasonable
    discretion determine to be required by such laws, rulings or
    regulations.

 

    (iii) Upon the Company’s determination that an Option
    has been validly exercised as to any of the Shares, the Company
    shall issue certificates in the Participant’s name for such
    Shares. However, the Company shall not be liable to the
    Participant for damages relating to any reasonable delays in
    issuing the certificates to the Participant or any loss by the
    Participant of the certificates.

 

    (iv) In the event of the Participant’s death, the
    Vested Portion of an Option shall remain vested and exercisable
    by the Participant’s executor or administrator, or the
    person or persons to whom the Participant’s rights under
    this Award Agreement shall pass by will or by the laws of
    descent and distribution as the case may be, to the extent set
    forth in Section 4(a) of this Award Agreement. Any heir or
    legatee of the Participant shall take rights herein granted
    subject to the terms and conditions hereof.

 

    5.  Adjustments.  In the event of any
    change in the outstanding Shares after the Effective Date by
    reason of any Share dividend or split, reorganization,
    recapitalization, merger, consolidation, spin-off, combination
    or transaction or exchange of Shares or other corporate
    exchange, or in the event of any distribution to shareholders of
    Shares (other than regular cash dividends) or any transaction
    similar to the foregoing or the issuance of equity (or rights to
    acquire equity) for consideration less than Fair Market Value
    (other than equity-based compensation or the conversion of
    preferred shares of the Company to Shares), the Committee in its
    sole discretion and without liability to any person may, subject
    to the requirements of Treasury
    Regulation Section 1.409A-1(b)(5)(D)
    or (H), as applicable, make such substitution or adjustment, if
    any, as it deems to be equitable, to the Option; provided, that
    in the event of an extraordinary dividend or similar
    extraordinary distribution, in lieu of any other adjustment or
    substitution, the Participant shall be entitled to receive, with
    respect to each Share subject to the Vested Portion of the
    Option as of such distribution, an amount equal to such
    extraordinary dividend or distribution paid with respect to a
    Share (whether paid in cash or otherwise), such amount to be
    paid when such distribution is paid to shareholders of the
    Company (but in no event later than
    21/2
    months after the extraordinary dividend or similar extraordinary
    distribution is declared by the Company) .

 

    6.  No Right to Continued
    Employment.  Neither the Plan nor this Award
    Agreement shall be construed as giving the Participant the right
    to be retained in the employ of, or in any consulting
    relationship to, the Company or any Affiliate. Further, the
    Company or its Affiliate may at any time terminate the
    Participant or discontinue any consulting relationship, free
    from any liability or any claim under the Plan or this Award
    Agreement, except as otherwise expressly provided herein.

 

    7.  Legend on Certificates.  The
    certificates representing the Shares purchased by exercise of an
    Option shall be subject to such stop transfer orders and other
    restrictions as the Committee may determine is required by the
    rules, regulations, and other requirements of the Securities and
    Exchange Commission, any stock exchange upon which such Shares
    are listed, any applicable federal or state laws and the
    Company’s Certificate of Incorporation and Bylaws, and the
    Committee may cause a legend or legends to be put on any such
    certificates to make appropriate reference to such restrictions.

 

    8.  Transferability.  Unless
    otherwise determined by the Committee, an 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 or any Affiliate; provided that the designation of a
    beneficiary shall not constitute an assignment, alienation,
    pledge, attachment, sale, transfer or encumbrance. During the
    Participant’s lifetime, an Option is exercisable only by
    the Participant.

 

    9.  Withholding.  The Participant may
    be required to pay to the Company or its Affiliate and the
    Company or its Affiliate shall have the right and is hereby
    authorized to withhold from any payment due or transfer made
    under the Option or under the Plan or from any compensation or
    other amount owing to a Participant the amount (in cash, Shares,
    other securities, other Awards or other property) of any
    applicable withholding taxes in respect of the Option, its
    exercise, or any payment or transfer under the Option or under
    the Plan and to take such action as may be necessary in the
    option of the Company to satisfy all obligations for the payment
    of such taxes.

 

    10.  Securities Laws.  Upon the
    acquisition of any Shares pursuant to the exercise of an Option,
    the Participant will make or enter into such written
    representations, warranties and agreements as the Committee may
    reasonably request in order to comply with applicable securities
    laws or with this Award Agreement.

 

    11.  Notices.  Any notice under this
    Award Agreement shall be addressed to the Company in care of its
    General Counsel, addressed to the principal executive office of
    the Company and to the Participant at the address last appearing
    in the personnel records of the Company for the Participant or
    to either party at such other address as either party hereto may
    hereafter designate in writing to the other. Any such notice
    shall be deemed effective upon receipt thereof by the addressee.

 

    12.  Governing Law.  This Award
    Agreement shall be governed by and construed in accordance with
    the laws of the State of Delaware, without regard to the
    conflicts of laws provisions thereof.

 

    13. Options Subject to Plan and Stockholders Award
    Agreement.   By entering into this Award Agreement
    the Participant agrees and acknowledges that the Participant has
    received and read a copy of the Plan. The Options and the Shares
    received upon exercise of the Options are subject to the Plan.
    The terms and provisions of the Plan as it may be amended from
    time to time are hereby incorporated by reference. In the event
    of a conflict between any term or provision contained herein and
    a term or provision of the Plan, the applicable terms and
    provisions of the Plan will govern and prevail.

 

    14.  Signature in Counterparts.  This
    Award 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.

 

    15.  Validity of Agreement.  This
    Award Agreement shall be valid, binding and effective upon the
    Company on the Date of Grant. However, the Options contained in
    this Award Agreement shall be forfeited by the Participant and
    this Award Agreement shall have no force and effect if it is not
    duly executed (as outlined in Section 14) by the
    Participant within forty-five (45) days of the Date of
    Grant.

 

    This Nonqualified Stock Option Award Agreement dated
    April 23, 2008 has been delivered to Participant pursuant
    to such action approved by the Committee on the Grant Date and
    can be accepted only by the signature of the Participant and
    timely delivery thereof to the Company in accordance with the
    terms of this Agreement.

 

    IN WITNESS WHEREOF, this Award Agreement has been executed and
    delivered by the parties hereto.

 

    CELANESE CORPORATION

 

			
	 	    By: 
	
    /s/  David
    N. Weidman

    Name:     David N. Weidman

			
	 	    Title: 
	
    Chairman and Chief Executive Officer

 

    Date: May 7, 2008

 

    ACCEPTED AND
    AGREED               
    PARTICIPANT

 

			
	 	    By: 
	
    /s/  Christopher
    Jensen

    Name:     Christopher Jensen

			
	 	    Title: 
	
    Vice President, Finance and Treasurer

    Employee ID: [Redacted]

 

    Date: May 9, 2008

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