Document:

EX-4.P

Exhibit 4(p)

 

MERRILL LYNCH & CO., INC.,

THE BANK OF NEW YORK, As Depositary

AND

THE HOLDERS FROM TIME TO TIME OF

THE DEPOSITARY RECEIPTS DESCRIBED HEREIN

 

DEPOSIT AGREEMENT

 

Dated as of April 29, 2008

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	ARTICLE I
	 	 	 	 
	Definitions

 	 	 	 	 
	ARTICLE II

 	 	 	 	 
	Form of Receipts, Deposit of Stock,
	 	 	 	 
	Execution and Delivery, Transfer,
	 	 	 	 
	Surrender and Redemption of Receipts
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 2.01.

	 	Form and Transfer of Receipts
	 	 	3	 
	SECTION 2.02.

	 	Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof
	 	 	4	 
	SECTION 2.03.

	 	Registration of Transfer of Receipts
	 	 	4	 
	SECTION 2.04.

	 	Split-ups and Combinations of Receipts; Surrender of Receipts and
Withdrawal of Stock
	 	 	5	 
	SECTION 2.05.

	 	Limitations on Execution and Delivery, Transfer, Surrender and Exchange
of Receipts
	 	 	5	 
	SECTION 2.06.

	 	Lost Receipts, etc.
	 	 	6	 
	SECTION 2.07.

	 	Cancellation and Destruction of Surrendered Receipts
	 	 	6	 
	SECTION 2.08.

	 	Redemption of Stock
	 	 	6	 
	SECTION 2.09.

	 	Receipts Issuable in Global Registered Form
	 	 	7	 
	 
	 	 	 	 	 	 
	ARTICLE III
	 	 	 	 
	 
	 	 	 	 	 	 
	Certain Obligations of
	 	 	 	 
	Holders of Receipts and the Company
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 3.01.

	 	Filing Proofs, Certificates and Other Information
	 	 	9	 
	SECTION 3.02.

	 	Payment of Taxes or Other Governmental Charges
	 	 	9	 
	SECTION 3.03.

	 	Warranty as to Stock
	 	 	9	 
	SECTION 3.04.

	 	Warranty as to Receipts
	 	 	9	 
	 
	 	 	 	 	 	 
	ARTICLE IV
	 	 	 	 
	 
	 	 	 	 	 	 
	The Deposited Securities; Notices
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 4.01.

	 	Cash Distributions
	 	 	9	 
	SECTION 4.02.

	 	Distributions Other than Cash, Rights, Preferences or Privileges
	 	 	10	 

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	 	 	 	 	Page
	SECTION 4.03.

	 	Subscription Rights, Preferences or Privileges
	 	 	10	 
	SECTION 4.04.

	 	Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts
	 	 	11	 
	SECTION 4.05.

	 	Voting Rights
	 	 	12	 
	SECTION 4.06.

	 	Changes Affecting Deposited Securities and Reclassifications,
Recapitalizations, etc
	 	 	12	 
	SECTION 4.07.

	 	Delivery of Reports
	 	 	13	 
	SECTION 4.08.

	 	Lists of Receipt Holders
	 	 	13	 
	 
	 	 	 	 	 	 
	ARTICLE V
	 	 	 	 
	 
	 	 	 	 	 	 
	The Depositary, the Depositary’s
	 	 	 	 
	Agents, the Registrar and the Company
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 5.01.

	 	Maintenance of Offices, Agencies and Transfer Books by the Depositary;
Registrar
	 	 	13	 
	SECTION 5.02.

	 	Prevention of or Delay in Performance by the Depositary, the Depositary’s
Agents, the Registrar or the Company
	 	 	13	 
	SECTION 5.03.

	 	Obligations of the Depositary, the Depositary’s Agents, the Registrar and
the Company
	 	 	14	 
	SECTION 5.04.

	 	Resignation and Removal of the Depositary; Appointment of Successor
Depositary
	 	 	15	 
	SECTION 5.05.

	 	Corporate Notices and Reports
	 	 	16	 
	SECTION 5.06.

	 	Indemnification by the Company
	 	 	16	 
	SECTION 5.07.

	 	Fees, Charges and Expenses
	 	 	16	 
	 
	 	 	 	 	 	 
	ARTICLE VI
	 	 	 	 
	 
	 	 	 	 	 	 
	Amendment and Termination
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 6.01.

	 	Amendment
	 	 	17	 
	SECTION 6.02.

	 	Termination
	 	 	17	 
	ARTICLE VII
	 	 	 	 
	 
	 	 	 	 	 	 
	Miscellaneous
	 	 	 	 
	 
	 	 	 	 	 	 
	SECTION 7.01.

	 	Counterparts
	 	 	18	 
	SECTION 7.02.

	 	Exclusive Benefit of Parties
	 	 	18	 
	SECTION 7.03.

	 	Invalidity of Provisions
	 	 	18	 
	SECTION 7.04.

	 	Notices
	 	 	18	 
	SECTION 7.05.

	 	Depositary’s Agents
	 	 	19	 
	SECTION 7.06.

	 	Appointment of Registrar and Transfer Agent in
respect of the Depositary Shares and Receipts
	 	 	19	 
	SECTION 7.07.

	 	Appointment of Registrar and Transfer Agent in respect of the Stock
	 	 	19	 

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	 	 	 	 	Page
	SECTION 7.08.

	 	Holders of Receipts Are Parties
	 	 	20	 
	SECTION 7.09.

	 	Governing Law
	 	 	20	 
	SECTION 7.10.

	 	Inspection of Deposit Agreement
	 	 	20	 
	SECTION 7.11.

	 	Headings
	 	 	20	 
	 
	 	 	 	 	 	 
	EXHIBIT A

	 	FORM OF RECEIPT
	 	 	A-1	 

iii

 

          DEPOSIT AGREEMENT dated as of April 29, 2008, among Merrill Lynch & Co., Inc., a Delaware
corporation, The Bank of New York, a New York banking corporation, and the holders from time to
time of the Receipts described herein.

          WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the
deposit of shares of 8.625% Non-Cumulative Preferred Stock, Series 8, of the Company with the
Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of
Receipts evidencing Depositary Shares in respect of the Stock so deposited; and

          WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed hereto, with
appropriate insertions, modifications and omissions, as hereinafter provided in this Deposit
Agreement;

          NOW, THEREFORE, in consideration of the premises, the parties hereto agree as follows:

ARTICLE I

Definitions

          The following definitions shall for all purposes, unless otherwise indicated, apply to the
respective terms used in this Deposit Agreement:

          “Certificate” shall mean the Certificate of Designations filed with the Secretary of State of
the State of Delaware establishing the Stock as a series of preferred stock of the Company.

          “Company” shall mean Merrill Lynch & Co., Inc., a Delaware corporation, and its successors.

          “Deposit Agreement” shall mean this Deposit Agreement, as amended or supplemented from time to
time in accordance with the terms hereof.

          “Depositary” shall mean The Bank of New York, and any successor as Depositary hereunder.

          “Depositary Shares” shall mean depositary shares, each representing one-twelve hundredth of
one share of Stock and evidenced by a Receipt.

          “Depositary’s Agent” shall mean an agent appointed by the Depositary pursuant to Section 7.05.

          “Depositary’s Office” shall mean the principal office of the Depositary, at which at any
particular time its depositary receipt business shall be administered.

          “Exchange Event” means with respect to any Global Registered Receipt

 

 

     (1) (A) the Global Receipt Depository which is the holder of such Global Registered Receipt
or Receipts notifies the Company that it is no longer willing or able to properly discharge its
responsibilities under any Letter of Representations or that it is no longer eligible or in good
standing under the Securities Exchange Act of 1934, as amended, and (B) the Company has not
appointed a qualified successor Global Receipt Depository within ninety (90) calendar days after
the Company received such notice, or

     (2) the Company in its sole discretion notifies the Depositary in writing that the Receipts
or portion thereof issued or issuable in the form of one or more Global Registered Receipts shall
no longer be represented by such Global Receipt or Receipts.

          “Global Receipt Depository” means, with respect to any Receipt issued hereunder The Depository
Trust Company (“DTC”) or such other entity designated as Global Receipt Depository by the Company
in or pursuant to this Deposit Agreement, which Person must be, to the extent required by any
applicable law or regulation, a clearing agency registered under the Securities Exchange Act of
1934, as amended.

          “Global Registered Receipts” means a global registered Receipt registered in the name of a
nominee of DTC.

          “Letter of Representations” means any applicable agreement among the Company, the Depositary
and a Global Receipt Depository with respect to such Global Receipt Depository’s rights and
obligations with respect to any Global Registered Receipts, as the same may be amended,
supplemented, restated or otherwise modified from time to time and any successor agreement thereto.

          “Receipt” shall mean one of the depositary receipts, substantially in the form set forth as
Exhibit A hereto, issued hereunder, whether in definitive or temporary form and evidencing the
number of Depositary Shares held of record by the record holder of such Depositary Shares.

          “record holder” or “holder” as applied to a Receipt shall mean the person in whose name a
Receipt is registered on the books of the Depositary maintained for such purpose.

          “Registrar” shall mean the Depositary or such other bank or trust company which shall be
appointed by the Company to register ownership and transfers of Receipts as herein provided and if
a Registrar shall be so appointed, references herein to “the books” of or maintained by the
Depository shall be deemed, as applicable, to refer as well to the register maintained by such
Registrar for such purpose.

          “Securities Act” shall mean the Securities Act of 1933, as amended.

          “Stock” shall mean shares of the Company’s 8.625% Non-Cumulative Preferred Stock, Series 8,
par value $1.00 per share, $30,000 liquidation preference per share.

2

 

ARTICLE II

Form of Receipts, Deposit of Stock,

Execution and Delivery, Transfer,

Surrender and Redemption of Receipts

               SECTION 2.01. Form and Transfer of Receipts. Definitive Receipts shall be engraved or
printed or lithographed on steel-engraved borders, with appropriate insertions, modifications and
omissions, as hereinafter provided. Pending the preparation of definitive Receipts, the Depositary,
upon the written order of the Company, delivered in compliance with Section 2.02, shall execute and
deliver temporary Receipts which are printed, lithographed, typewritten, mimeographed or otherwise
substantially of the tenor of the definitive Receipts in lieu of which they are issued and with
such appropriate insertions, omissions, substitutions and other variations as the persons executing
such Receipts may determine, as evidenced by their execution of such Receipts. If temporary
Receipts are issued, the Company and the Depositary will cause definitive Receipts to be prepared
without unreasonable delay. After the preparation of definitive Receipts, the temporary Receipts
shall be exchangeable for definitive Receipts upon surrender of the temporary Receipts at an office
described in the penultimate paragraph of Section 2.02, without charge to the holder. Upon
surrender for cancellation of any one or more temporary Receipts, the Depositary shall execute and
deliver in exchange therefor definitive Receipts representing the same number of Depositary Shares
as represented by the surrendered temporary Receipt or Receipts. Such exchange shall be made at the
Company’s expense and without any charge therefor. Until so exchanged, the temporary Receipts shall
in all respects be entitled to the same benefits under this Agreement, and with respect to the
Stock, as definitive Receipts.

          Receipts shall be executed by the Depositary by the manual signature of a duly authorized
officer of the Depositary; provided, that such signature may be a facsimile if a Registrar
for the Receipts (other than the Depositary) shall have been appointed and such Receipts are
manually countersigned by a duly authorized officer of the Registrar. No Receipt shall be entitled
to any benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it
shall have been executed manually by a duly authorized officer of the Depositary or, if a Registrar
for the Receipts (other than the Depositary) shall have been appointed, by manual or facsimile
signature of a duly authorized officer of the Depositary and countersigned by a duly authorized
officer of such Registrar. The Depositary shall record on its books each Receipt so signed and
delivered as hereinafter provided.

          Receipts shall be in denominations of any number of whole Depositary Shares.

          Receipts may be endorsed with or have incorporated in the text thereof such legends or
recitals or changes not inconsistent with the provisions of this Deposit Agreement all as may be
required by the Depositary and approved by the Company or required to comply with any applicable
law or any regulation thereunder or with the rules and regulations of any securities exchange upon
which the Stock, the Depositary Shares or the Receipts may be listed or to conform with any usage
with respect thereto, or to indicate any special limitations or restrictions to which any
particular Receipts are subject.

3

 

          Title to Depositary Shares evidenced by a Receipt which is properly endorsed or accompanied by
a properly executed instrument of transfer, shall be transferable by delivery with the same effect
as in the case of a negotiable instrument; provided , however , that until transfer of a Receipt
shall be registered on the books of the Depositary as provided in Section 2.03, the Depositary may,
notwithstanding any notice to the contrary, treat the record holder thereof at such time as the
absolute owner thereof for the purpose of determining the person entitled to distributions of
dividends or other distributions or to any notice provided for in this Deposit Agreement and for
all other purposes.

               SECTION 2.02. Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof.
Subject to the terms and conditions of this Deposit Agreement, the Company may from time to time
deposit shares of the Stock under this Deposit Agreement by delivery to the Depositary of a
certificate or certificates for the Stock to be deposited, properly endorsed or accompanied, if
required by the Depositary, by a duly executed instrument of transfer or endorsement, in form
satisfactory to the Depositary, together with all such certifications as may be required by the
Depositary in accordance with the provisions of this Deposit Agreement, and together with a written
order of the Company directing the Depositary to execute and deliver to, or upon the written order
of, the person or persons stated in such order a Receipt or Receipts evidencing in the aggregate
the number of Depositary Shares representing such deposited Stock.

          Deposited Stock shall be held by the Depositary at the Depositary’s Office or at such other
place or places as the Depositary shall determine. The Depositary shall not lend any Stock
deposited hereunder.

          Upon receipt by the Depositary of a certificate or certificates for Stock deposited in
accordance with the provisions of this Section, together with the other documents required as above
specified, and upon recordation of the Stock on the books of the Company in the name of the
Depositary or its nominee, the Depositary, subject to the terms and conditions of this Deposit
Agreement, shall execute and deliver to or upon the order of the person or persons named in the
written order delivered to the Depositary referred to in the first paragraph of this Section, a
Receipt or Receipts evidencing in the aggregate the number of Depositary Shares representing the
Stock so deposited and registered in such name or names as may be requested by such person or
persons. The Depositary shall execute and deliver such Receipt or Receipts at the Depositary’s
Office or such other offices, if any, as the Depositary may designate. Delivery at other offices
shall be at the risk and expense of the person requesting such delivery.

               SECTION 2.03. Registration of Transfer of Receipts. Subject to the terms and
conditions of this Deposit Agreement, the Depositary shall register on its books from time to time
transfers of Receipts upon any surrender thereof by the holder in person or by duly authorized
attorney, properly endorsed or accompanied by a properly executed instrument of transfer.
Thereupon, the Depositary shall execute a new Receipt or Receipts evidencing the same aggregate
number of Depositary Shares as those evidenced by the Receipt or Receipts surrendered and deliver
such new Receipt or Receipts to or upon the order of the person entitled thereto.

          The Depositary shall not be required (a) to issue, transfer or exchange any Receipts for a
period beginning at the opening of business fifteen days next preceding any selection of

4

 

Depositary Shares and Stock to be redeemed and ending at the close of business on the day of
the mailing of notice of redemption, or (b) to transfer or exchange for another Receipt any Receipt
called or being called for redemption in whole or in part except as provided in Section 2.08.

               SECTION 2.04. Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal
of Stock. Upon surrender of a Receipt or Receipts at the Depositary’s Office or at such other
offices as it may designate for the purpose of effecting a split-up or combination of such Receipt
or Receipts, and subject to the terms and conditions of this Deposit Agreement, the Depositary
shall execute a new Receipt or Receipts in the authorized denomination or denominations requested,
evidencing the aggregate number of Depositary Shares evidenced by the Receipt or Receipts
surrendered, and shall deliver such new Receipt or Receipts to or upon the order of the holder of
the Receipt or Receipts so surrendered.

          Any holder of a Receipt or Receipts may withdraw the number of whole shares of Stock and all
money and other property, if any, represented thereby by surrendering such Receipt or Receipts, at
the Depositary’s Office or at such other offices as the Depositary may designate for such
withdrawals. Thereafter, without unreasonable delay, the Depositary shall deliver to such holder,
or to the person or persons designated by such holder as hereinafter provided, the number of whole
shares of Stock and all money and other property, if any, represented by the Receipt or Receipts so
surrendered for withdrawal, but holders of such whole shares of Stock will not thereafter be
entitled to deposit such Stock hereunder or to receive a Receipt evidencing Depositary Shares
therefor. If a Receipt delivered by the holder to the Depositary in connection with such withdrawal
shall evidence a number of Depositary Shares in excess of the number of Depositary Shares
representing the number of whole shares of Stock to be so withdrawn, the Depositary shall at the
same time, in addition to such number of whole shares of Stock and such money and other property,
if any, to be so withdrawn, deliver to such holder, or subject to Section 2.03 upon his order, a
new Receipt evidencing such excess number of Depositary Shares. In no event will fractional shares
of Stock (or any cash payment in lieu thereof) be delivered by the Depositary. Delivery of the
Stock and money and other property, if any, being withdrawn may be made by the delivery of such
certificates, documents of title and other instruments as the Depositary may deem appropriate.

          If the Stock and the money and other property, if any, being withdrawn are to be delivered to
a person or persons other than the record holder of the Receipt or Receipts being surrendered for
withdrawal of Stock, such holder shall execute and deliver to the Depositary a written order so
directing the Depositary and the Depositary may require that the Receipt or Receipts surrendered by
such holder for withdrawal of such shares of Stock be properly endorsed in blank or accompanied by
a properly executed instrument of transfer in blank.

          Delivery of the Stock and the money and other property, if any, represented by Receipts
surrendered for withdrawal shall be made by the Depositary at the Depositary’s Office, except that,
at the request, risk and expense of the holder surrendering such Receipt or Receipts and for the
account of the holder thereof, such delivery may be made at such other place as may be designated
by such holder.

               SECTION 2.05. Limitations on Execution and Delivery, Transfer, Surrender and Exchange of
Receipts. As a condition precedent to the execution and delivery, registration of

5

 

transfer, split-up, combination, surrender or exchange of any Receipt, the Depositary, any of
the Depositary’s Agents or the Company may require payment to it of a sum sufficient for the
payment (or, in the event that the Depositary or the Company shall have made such payment, the
reimbursement to it) of any charges or expenses payable by the holder of a Receipt pursuant to
Section 5.07, may require the production of evidence satisfactory to it as to the identity and
genuineness of any signature and may also require compliance with such regulations, if any, as the
Depositary or the Company may establish consistent with the provisions of this Deposit Agreement
and/or applicable law.

          The deposit of Stock may be refused, the delivery of Receipts against Stock may be suspended,
the registration of transfer of Receipts may be refused and the registration of transfer, surrender
or exchange of outstanding Receipts may be suspended (i) during any period when the register of
stockholders of the Company is closed or (ii) if any such action is deemed necessary or advisable
by the Depositary, any of the Depositary’s Agents or the Company at any time or from time to time
because of any requirement of law or of any government or governmental body or commission or under
any provision of this Deposit Agreement.

               SECTION 2.06. Lost Receipts, etc. In case any Receipt shall be mutilated, destroyed,
lost or stolen, the Depositary in its discretion may execute and deliver a Receipt of like form and
tenor in exchange and substitution for such mutilated Receipt, or in lieu of and in substitution
for such destroyed, lost or stolen Receipt, upon (i) the filing by the holder thereof with the
Depositary of evidence satisfactory to the Depositary of such destruction or loss or theft of such
Receipt, of the authenticity thereof and of his or her ownership thereof and (ii) the holder
thereof furnishing of the Depositary with reasonable indemnification satisfactory to the
Depositary.

               SECTION 2.07. Cancellation and Destruction of Surrendered Receipts. All Receipts
surrendered to the Depositary or any Depositary’s Agent shall be cancelled by the Depositary.
Except as prohibited by applicable law or regulation, the Depositary is authorized and directed to
destroy all Receipts so cancelled.

               SECTION 2.08. Redemption of Stock. Whenever the Company shall be permitted and shall
elect to redeem shares of Stock in accordance with the provisions of the Certificate, it shall
(unless otherwise agreed to in writing with the Depositary) give or cause to be given to the
Depositary, not less than 30 days and not more than 60 days prior to the Redemption Date (as
defined below), notice of the date of such proposed redemption of Stock and of the number of such
shares held by the Depositary to be so redeemed and the applicable redemption price, which notice
shall be accompanied by a certificate from the Company stating that such redemption of Stock is in
accordance with the provisions of the Certificate. On the date of such redemption, provided
that the Company shall then have paid or caused to be paid in full to the Depositary the redemption
price of the Stock to be redeemed, plus an amount equal to any accrued and unpaid dividends thereon
to the date fixed for redemption, in accordance with the provisions of the Certificate, the
Depositary shall redeem the number of Depositary Shares representing such Stock. The Depositary
shall mail notice of the Company’s redemption of Stock and the proposed simultaneous redemption of
the number of Depositary Shares representing the Stock to be redeemed by first-class mail, postage
prepaid, not less than 15 and not more than 60 days prior to the date fixed for redemption of such
Stock and Depositary Shares (the

6

 

“Redemption Date”), to the record holders of the Receipts evidencing the Depositary Shares to
be so redeemed at the addresses of such holders as they appear on the records of the Depositary;
but neither failure to mail any such notice of redemption of Depositary Shares to one or more such
holders nor any defect in any notice of redemption of Depositary Shares to one or more such holders
shall affect the sufficiency of the proceedings for redemption as to the other holders. Each such
notice shall be prepared by the Company and shall state: (i) the Redemption Date; (ii) the number
of Depositary Shares to be redeemed and, if less than all the Depositary Shares held by any such
holder are to be redeemed, the number of such Depositary Shares held by such holder to be so
redeemed; (iii) the redemption price; (iv) the place or places where Receipts evidencing Depositary
Shares are to be surrendered for payment of the redemption price; and (v) that dividends in respect
of the Stock represented by the Depositary Shares to be redeemed will cease to accrue on such
Redemption Date. In case less than all the outstanding Depositary Shares are to be redeemed, the
Depositary Shares to be so redeemed shall be selected by the Depositary by lot or pro rata (as
nearly as may be), as determined by the Depositary in its sole discretion to be equitable.

          Notice having been mailed by the Depositary as aforesaid, from and after the Redemption Date
(unless the Company shall have failed to provide the funds necessary to redeem the Stock evidenced
by the Depositary Shares called for redemption) (i) dividends on the shares of Stock so called for
Redemption shall cease to accrue from and after such date, (ii) the Depositary Shares being
redeemed from such proceeds shall be deemed no longer to be outstanding, (iii) all rights of the
holders of Receipts evidencing such Depositary Shares (except the right to receive the redemption
price) shall, to the extent of such Depositary Shares, cease and terminate, and (iv) upon surrender
in accordance with such redemption notice of the Receipts evidencing any such Depositary Shares
called for redemption (properly endorsed or assigned for transfer, if the Depositary or applicable
law shall so require), such Depositary Shares shall be redeemed by the Depositary at a redemption
price per Depositary Share equal to one-twelve hundredth of the redemption price per share of Stock
so redeemed plus all money and other property, if any, represented by such Depositary Shares,
including all amounts paid by the Company in respect of dividends which on the Redemption Date have
accrued on the shares of Stock to be so redeemed and have not therefore been paid.

          If fewer than all of the Depositary Shares evidenced by a Receipt are called for redemption,
the Depositary will deliver to the holder of such Receipt upon its surrender to the Depositary,
together with the redemption payment, a new Receipt evidencing the Depositary Shares evidenced by
such prior Receipt and not called for redemption.

               SECTION 2.09. Receipts Issuable in Global Registered Form. If the Company shall
determine in a writing delivered to the Depositary that the Receipts are to be issued in whole or
in part in the form of one or more Global Registered Receipts, then the Depositary shall, in
accordance with the other provisions of this Deposit Agreement, execute and deliver one or more
Global Registered Receipts evidencing the Receipts of such Series, which (i) shall represent, and
shall be denominated in an amount equal to the aggregate principal amount of, the Receipts to be
represented by such Global Registered Receipt or Receipts, (ii) shall be registered in the name of
the Global Receipt Depository therefor or its nominee.

7

 

          Notwithstanding any other provision of this Deposit Agreement to the contrary, unless
otherwise provided in the Global Registered Receipt, a Global Registered Receipt may only be
transferred in whole and only by the applicable Global Receipt Depository for such Global
Registered Receipt to a nominee of such Global Receipt Depository, or by a nominee of such Global
Receipt Depository to such Global Receipt Depository or another nominee of such Global Receipt
Depository, or by such Global Receipt Depository or any such nominee to a successor Global Receipt
Depository for such Global Registered Receipt selected or approved by the Company or to a nominee
of such successor Global Receipt Depository. Except as provided below, owners solely of beneficial
interests in a Global Registered Receipt shall not be entitled to receive physical delivery of the
Receipts represented by such Global Registered Receipt. Neither any such beneficial owner nor any
direct or indirect participant of a Global Receipt Depository shall have any rights under this
Deposit Agreement with respect to any Global Registered Receipt held on their behalf by a Global
Receipt Depository and such Global Receipt Depository may be treated by the Company, the Depositary
and any director, officer, employee or agent of the Company or the Depositary as the holder of such
Global Registered Receipt for all purposes whatsoever. Unless and until definitive Receipts are
delivered to the owners of the beneficial interests in a Global Registered Receipt, (1) the
applicable Global Receipt Depository will make book-entry transfers among its participants and
receive and transmit all payments and distributions in respect of the Global Registered Receipts to
such participants, in each case, in accordance with its applicable procedures and arrangements, and
(2) whenever any notice, payment or other communication to the holders of Global Registered
Receipts is required under this Deposit Agreement, the Company and the Depositary shall give all
such notices, payments and communications specified herein to be given to such holders to the
applicable Global Receipt Depository.

          If an Exchange Event has occurred with respect to any Global Registered Receipt, then, in any
such event, the Depositary shall, upon receipt of a written order from the Company for the
execution and delivery of individual definitive registered Receipts in exchange for such Global
Registered Receipt, shall execute and deliver, individual definitive registered Receipts, in
authorized denominations and of like tenor and terms in an aggregate principal amount equal to the
principal amount of the Global Registered Receipt in exchange for such Global Registered Receipt.

          Definitive registered Receipts issued in exchange for a Global Registered Receipt pursuant to
this Section shall be registered in such names and in such authorized denominations as the Global
Receipt Depository for such Global Registered Receipt, pursuant to instructions from its
participants, shall instruct the Depositary in writing. The Depositary shall deliver such Receipts
to the persons in whose names such Receipts are so registered.

          Notwithstanding anything to the contrary in this Deposit Agreement, should the Company
determine that the Receipts should be issued as a Global Registered Receipt, the parties hereto
shall comply with the terms of each Letter of Representations.

8

 

ARTICLE III

Certain Obligations of

Holders of Receipts and the Company

               SECTION 3.01. Filing Proofs, Certificates and Other Information. Any holder of a
Receipt may be required from time to time to file such proof of residence, or other matters or
other information, to execute such certificates and to make such representations and warranties as
the Depositary or the Company may reasonably deem necessary or proper. The Depositary or the
Company may withhold the delivery, or delay the registration of transfer or redemption, of any
Receipt or the withdrawal of the Stock represented by the Depositary Shares evidenced by any
Receipt or the distribution of any dividend or other distribution or the sale of any rights or of
the proceeds thereof until such proof or other information is filed or such certificates are
executed or such representations and warranties are made.

               SECTION 3.02. Payment of Taxes or Other Governmental Charges. Holders of Receipts
shall be obligated to make payments to the Depositary of certain charges and expenses, as provided
in Section 5.07. Registration of transfer of any Receipt or any withdrawal of Stock and all money
or other property, if any, represented by the Depositary Shares evidenced by such Receipt may be
refused until any such payment due is made, and any dividends, interest payments or other
distributions may be withheld or any part of or all the Stock or other property represented by the
Depositary Shares evidenced by such Receipt and not theretofore sold may be sold for the account of
the holder thereof (after attempting by reasonable means to notify such holder prior to such sale),
and such dividends, interest payments or other distributions or the proceeds of any such sale may
be applied to any payment of such charges or expenses, the holder of such Receipt remaining liable
for any deficiency.

               SECTION 3.03. Warranty as to Stock. The Company hereby represents and warrants that
the Stock, when issued, will be duly authorized, validly issued, fully paid and nonassessable. Such
representation and warranty shall survive the deposit of the Stock and the issuance of Receipts.

               SECTION 3.04. Warranty as to Receipts. The Company hereby represents and warrants
that the Receipts, when issued, will represent legal and valid interests in the Stock. Such
representation and warranty shall survive the deposit of the Stock and the issuance of Receipts.

ARTICLE IV

The Deposited Securities; Notices

               SECTION 4.01. Cash Distributions. Whenever the Depositary shall receive any cash
dividend or other cash distribution on Stock, the Depositary shall, subject to Sections 3.01 and
3.02, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.04
such amounts of such dividend or distribution as are, as nearly as practicable, in proportion to
the respective numbers of Depositary Shares evidenced by the Receipts held by such holders;
provided, however, that in case the Company or the Depositary shall be required to
withhold and shall withhold from any cash dividend or other cash distribution in respect of the
Stock an

9

 

amount on account of taxes, the amount made available for distribution or distributed in
respect of Depositary Shares shall be reduced accordingly. The Depositary shall distribute or make
available for distribution, as the case may be, only such amount, however, as can be distributed
without attributing to any holder of Depositary Shares a fraction of one cent, and any balance not
so distributable shall be held by the Depositary (without liability for interest thereon) and shall
be added to and be treated as part of the next sum received by the Depositary for distribution to
record holders of Receipts then outstanding. Each holder of a Receipt shall provide the Depositary
with its certified tax identification number on a properly completed Form W-8 or W-9, as may be
applicable. Each holder of a Receipt acknowledges that, in the event of non-compliance with the
preceding sentence, the Internal Revenue Code of 1986, as amended, may require withholding by the
Depositary of a portion of any of the distributions to be made hereunder.

               SECTION 4.02. Distributions Other than Cash, Rights, Preferences or Privileges.
Whenever the Depositary shall receive any distribution other than cash, rights, preferences or
privileges upon Stock, the Depositary shall, subject to Sections 3.01 and 3.02, distribute to
record holders of Receipts on the record date fixed pursuant to Section 4.04 such amounts of the
securities or property received by it as are, as nearly as practicable, in proportion to the
respective numbers of Depositary Shares evidenced by the Receipts held by such holders, in any
manner that the Depositary may deem equitable and practicable for accomplishing such distribution.
If in the opinion of the Depositary such distribution cannot be made proportionately among such
record holders, or if for any other reason (including any requirement that the Company or the
Depositary withhold an amount on account of taxes) the Depositary deems, after consultation with
the Company, such distribution not to be feasible, the Depositary may, with the approval of the
Company, adopt such method as it deems equitable and practicable for the purpose of effecting such
distribution, including the sale (at public or private sale) of the securities or property thus
received, or any part thereof, in a commercially reasonable manner. The net proceeds of any such
sale shall, subject to Sections 3.01 and 3.02, be distributed or made available for distribution,
as the case may be, by the Depositary to record holders of Receipts as provided by Section 4.01 in
the case of a distribution received in cash. The Company shall not make any distribution of such
securities or property to the Depositary and the Depositary shall not make any distribution of such
securities or property to the holders of Receipts unless the Company shall have provided an opinion
of counsel stating that such securities or property have been registered under the Securities Act
or do not need to be registered in connection with such distributions.

               SECTION 4.03. Subscription Rights, Preferences or Privileges. If the Company shall at
any time offer or cause to be offered to the persons in whose names Stock is recorded on the books
of the Company any rights, preferences or privileges to subscribe for or to purchase any securities
or any rights, preferences or privileges of any other nature, such rights, preferences or
privileges shall in each such instance be made available by the Depositary to the record holders of
Receipts in such manner as the Depositary may determine, either by the issue to such record holders
of warrants representing such rights, preferences or privileges or by such other method as may be
approved by the Depositary in its discretion with the approval of the Company; provided,
however, that (i) if at the time of issue or offer of any such rights, preferences or
privileges the Depositary determines that it is not lawful or (after consultation with the Company)
not feasible to make such rights, preferences or privileges available to

10

 

holders of Receipts by the issue of warrants or otherwise, or (ii) if and to the extent so
instructed by holders of Receipts who do not desire to exercise such rights, preferences or
privileges, then the Depositary, in its discretion (with approval of the Company, in any case where
the Depositary has determined that it is not feasible to make such rights, preferences or
privileges available), may, if applicable laws or the terms of such rights, preferences or
privileges permit such transfer, sell such rights, preferences or privileges at public or private
sale, at such place or places and upon such terms as it may deem proper. The net proceeds of any
such sale shall, subject to Sections 3.01 and 3.02, be distributed by the Depositary to the record
holders of Receipts entitled thereto as provided by Section 4.01 in the case of a distribution
received in cash.

          The Company shall notify the Depositary whether registration under the Securities Act of the
securities to which any rights, preferences or privileges relate is required in order for holders
of Receipts to be offered or sold the securities to which such rights, preferences or privileges
relate, and the Company agrees with the Depositary that it will file promptly a registration
statement pursuant to such Act with respect to such rights, preferences or privileges and
securities and use its best efforts and take all steps available to it to cause such registration
statement to become effective sufficiently in advance of the expiration of such rights, preferences
or privileges to enable such holders to exercise such rights, preferences or privileges. In no
event shall the Depositary make available to the holders of Receipts any right, preference or
privilege to subscribe for or to purchase any securities unless and until such registration
statement shall have become effective, or the Company shall have provided to the Depositary an
opinion of counsel to the effect that the offering and sale of such securities to such holders are
exempt from registration under the provisions of the Securities Act.

          The Company shall notify the Depositary whether any other action under the laws of any
jurisdiction or any governmental or administrative authorization, consent or permit is required in
order for such rights, preferences or privileges to be made available to holders of Receipts, and
the Company agrees with the Depositary that the Company will use its reasonable best efforts to
take such action or obtain such authorization, consent or permit sufficiently in advance of the
expiration of such rights, preferences or privileges to enable such holders to exercise such
rights, preferences or privileges.

               SECTION 4.04. Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts.
Whenever any cash dividend or other cash distribution shall become payable or any distribution
other than cash shall be made, or if rights, preferences or privileges shall at any time be
offered, with respect to Stock, or whenever the Depositary shall receive notice of any meeting at
which holders of Stock are entitled to vote or of which holders of Stock are entitled to notice, or
whenever the Depositary and the Company shall decide it is appropriate, the Depositary shall in
each such instance fix a record date (which shall be the same date as the record date fixed by the
Company with respect to or otherwise in accordance with the terms of the Stock) for the
determination of the holders of Receipts who shall be entitled to receive such dividend,
distribution, rights, preferences or privileges or the net proceeds of the sale thereof, or to give
instructions for the exercise of voting rights at any such meeting, or who shall be entitled to
notice of such meeting or for any other appropriate reasons.

11

 

               SECTION 4.05. Voting Rights. Upon receipt of notice of any meeting at which the
holders of Stock are entitled to vote, the Depositary shall, as soon as practicable thereafter,
mail to the record holders of Receipts a notice prepared by the Company which shall contain (i)
such information as is contained in such notice of meeting and (ii) a statement that the holders
may, subject to any applicable restrictions, instruct the Depositary as to the exercise of the
voting rights pertaining to the amount of Stock represented by their respective Depositary Shares
(including an express indication that instructions may be given to the Depositary to give a
discretionary proxy to a person designated by the Company) and a brief statement as to the manner
in which such instructions may be given. Upon the written request of the holders of Receipts on the
relevant record date, the Depositary shall endeavor insofar as practicable to vote or cause to be
voted, in accordance with the instructions set forth in such requests, the maximum number of whole
shares of Stock represented by the Depositary Shares evidenced by all Receipts as to which any
particular voting instructions are received provided that the Depositary receives such
instructions sufficiently in advance of such voting to enable it to so vote or cause such Stock to
be voted. The Company hereby agrees to take all reasonable action which may be deemed necessary by
the Depositary in order to enable the Depositary to vote such Stock or cause such Stock to be
voted. In the absence of specific instructions from the holder of a Receipt, the Depositary will
not vote (but, at its discretion, may appear at any meeting with respect to such Stock unless
directed to the contrary by the holders of all the Receipts) to the extent of the Stock represented
by the Depositary Shares evidenced by such Receipt.

               SECTION 4.06. Changes Affecting Deposited Securities and Reclassifications,
Recapitalizations, etc. Upon any change in par or stated value, split-up, combination or any
other reclassification of the Stock, or upon any recapitalization, reorganization, merger or
consolidation affecting the Company or to which it is a party, the Depositary may in its discretion
with the approval of, and shall upon the instructions of, the Company, and (in either case) in such
manner as the Depositary may deem equitable, (i) make such adjustments as are certified by the
Company in the fraction of an interest represented by one Depositary Share in one share of Stock as
may be necessary fully to reflect the effects of such change in par or stated value, split-up,
combination or other reclassification of Stock, or of such recapitalization, reorganization, merger
or consolidation and (ii) treat any securities which shall be received by the Depositary in
exchange for or upon conversion of or in respect of the Stock as new deposited securities so
received in exchange for or upon conversion or in respect of such Stock. In any such case the
Depositary may in its discretion, with the approval of the Company, execute and deliver additional
Receipts or may call for the surrender of all outstanding Receipts to be exchanged for new Receipts
specifically describing such new deposited securities. Anything to the contrary herein
notwithstanding, holders of Receipts shall have the right from and after the effective date of any
such change in par or stated value, split-up, combination or other reclassification of the Stock or
any such recapitalization, reorganization, merger or consolidation to surrender such Receipts to
the Depositary with instructions to convert, exchange or surrender the Stock represented thereby
only into or for, as the case may be, the kind and amount of shares of stock and other securities
and property and cash into which the Stock represented by such Receipts might have been converted
or for which such Stock might have been exchanged or surrendered immediately prior to the effective
date of such transaction.

12

 

               SECTION 4.07. Delivery of Reports. The Depositary shall furnish to holders of
Receipts any reports and communications received from the Company which are received by the
Depositary and which the Company is required to furnish to the holders of the Stock.

               SECTION 4.08. Lists of Receipt Holders. Promptly upon request from time to time by
the Company, the Depositary shall furnish to it a list, as of the most recent practicable date, of
the names, addresses and holdings of Depositary Shares of all record holders of Receipts.

ARTICLE V

The Depositary, the Depositary’s

Agents, the Registrar and the Company

               SECTION 5.01. Maintenance of Offices, Agencies and Transfer Books by the Depositary;
Registrar. Upon execution of this Deposit Agreement, the Depositary shall maintain at the
Depositary’s Office, facilities for the execution and delivery, registration and registration of
transfer, surrender and exchange of Receipts, and at the offices of the Depositary’s Agents, if
any, facilities for the delivery, registration of transfer, surrender and exchange of Receipts, all
in accordance with the provisions of this Deposit Agreement.

          The Depositary shall keep books at the Depositary’s Office for the registration and
registration of transfer of Receipts, which books at all reasonable times shall be open for
inspection by the record holders of Receipts; provided that any such holder requesting to
exercise such right shall certify to the Depositary that such inspection shall be for a proper
purpose reasonably related to such person’s interest as an owner of Depositary Shares evidenced by
the Receipts.

          The Depositary may close such books, at any time or from time to time, when deemed expedient
by it in connection with the performance of its duties hereunder.

          The Depositary may, with the approval of the Company, appoint a Registrar for registration of
the Receipts or the Depositary Shares evidenced thereby. If the Receipts or the Depositary Shares
evidenced thereby or the Stock represented by such Depositary Shares shall be listed on one or more
national stock exchanges, the Depositary will appoint a Registrar (acceptable to the Company) for
registration of such Receipts or Depositary Shares in accordance with any requirements of such
exchange. Such Registrar (which may be the Depositary if so permitted by the requirements of any
such exchange) may be removed and a substitute registrar appointed by the Depositary upon the
request or with the approval of the Company. If the Receipts, such Depositary Shares or such Stock
are listed on one or more other stock exchanges, the Depositary will, at the request of the
Company, arrange such facilities for the delivery, registration, registration of transfer,
surrender and exchange of such Receipts, such Depositary Shares or such Stock as may be required by
law or applicable stock exchange regulation.

               SECTION 5.02. Prevention of or Delay in Performance by the Depositary, the Depositary’s
Agents, the Registrar or the Company. Neither the Depositary nor any Depositary’s Agent nor
any Registrar nor the Company shall incur any liability to any holder of

13

 

any Receipt if by reason of any provision of any present or future law, or regulation
thereunder, of the United States of America or of any other governmental authority or, in the case
of the Depositary, the Depositary’s Agent or the Registrar, by reason of any provision, present or
future, of the Company’s Restated Certificate of Incorporation (including the Certificate) or by
reason of any act of God or war or other circumstance beyond the control of the relevant party, the
Depositary, the Depositary’s Agent, the Registrar or the Company shall be prevented or forbidden
from, or subjected to any penalty on account of, doing or performing any act or thing which the
terms of this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any
Depositary’s Agent, any Registrar or the Company incur liability to any holder of a Receipt (i) by
reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing
which the terms of this Deposit Agreement shall provide shall or may be done or performed, or (ii)
by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit
Agreement except as otherwise set forth in this Deposit Agreement.

               SECTION 5.03. Obligations of the Depositary, the Depositary’s Agents, the Registrar and
the Company. Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the
Company assumes any obligation or shall be subject to any liability under this Deposit Agreement to
holders of Receipts other than for its negligence, willful misconduct or bad faith. Notwithstanding
anything in this Agreement to the contrary, neither the Depositary, nor the Depositary’s Agent nor
any Registrar nor the Company shall be liable in any event for special, punitive, incidental,
indirect or consequential losses or damages of any kind whatsoever (including but not limited to
lost profits).

          Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company shall be
under, any obligation to appear in, prosecute or defend any action, suit or other proceeding in
respect of the Stock, the Depositary Shares or the Receipts which in its opinion may involve it in
expense or liability unless indemnity satisfactory to it against all expense and liability be
furnished as often as may be required.

          Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company shall be
liable for any action or any failure to act by it in reliance upon the written advice of legal
counsel or accountants, or information from any person presenting Stock for deposit, any holder of
a Receipt or any other person believed by it in good faith to be competent to give such
information. The Depositary, any Depositary’s Agent, any Registrar and the Company may each rely
and shall each be protected in acting upon or omitting to act upon any written notice, request,
direction or other document believed by it to be genuine and to have been signed or presented by
the proper party or parties.

          The Depositary shall not be responsible for any failure to carry out any instruction to vote
any of the shares of stock or for the manner or effect of any such vote made, as long as any such
action or non-action is not taken in bad faith. The Depositary undertakes, and any Registrar shall
be required to undertake, to perform such duties and only such duties as are specifically set forth
in this Agreement, and no implied covenants or obligations shall be read into this Agreement
against the Depositary or any Registrar.

14

 

          The Depositary, the Depositary’s Agents, and any Registrar may own and deal in any class of
securities of the Company and its affiliates and in Receipts. The Depositary may also act as
transfer agent or registrar of any of the securities of the Company and its affiliates.

          The Depositary shall not be under any liability for interest on any monies at any time
received by it pursuant to any of the provisions of this Agreement or of the Receipts, the
Depositary Shares or the Stock nor shall it be obligated to segregate such monies from other monies
held by it, except as required by law. The Depositary shall not be responsible for advancing funds
on behalf of the Company and shall have no duty or obligation to make any payments if it has not
timely received sufficient funds to make timely payments.

          In the event the Depositary believes any ambiguity or uncertainty exists hereunder or in any
notice, instruction, direction, request or other communication, paper or document received by the
Depositary hereunder, or in the administration of any of the provisions of this Agreement, the
Depositary shall deem it necessary or desirable that a matter be proved or established prior to
taking, omitting or suffering to take any action hereunder, the Depositary may, in its sole
discretion upon written notice to the Company, refrain from taking any action and shall be fully
protected and shall not be liable in any way to the Company, any holders of Receipts or any other
person or entity for refraining from taking such action, unless the Depositary receives written
instructions or a certificate signed by the Company which eliminates such ambiguity or uncertainty
to the satisfaction of the Depositary or which proves or establishes the applicable matter to the
satisfaction of the Depositary.

               SECTION 5.04. Resignation and Removal of the Depositary; Appointment of Successor
Depositary. The Depositary may at any time resign as Depositary hereunder by delivering notice
of its election to do so to the Company, such resignation to take effect upon the appointment of a
successor Depositary and its acceptance of such appointment as hereinafter provided.

          The Depositary may at any time be removed by the Company by notice of such removal delivered
to the Depositary, such removal to take effect upon the appointment of a successor depositary
hereunder and its acceptance of such appointment as hereinafter provided.

          In case at any time the Depositary acting hereunder shall resign or be removed, the Company
shall, within 60 days after the delivery of the notice of resignation or removal, as the case may
be, appoint a successor Depositary, which shall be a bank or trust company having its principal
office in the United States of America and having a combined capital and surplus of at least
$50,000,000. If no successor Depositary shall have been so appointed and have accepted appointment
within 60 days after delivery of such notice, the resigning or removed Depositary may petition any
court of competent jurisdiction for the appointment of a successor Depositary. Every successor
Depositary shall execute and deliver to its predecessor and to the Company an instrument in writing
accepting its appointment hereunder, and thereupon such successor Depositary, without any further
act or deed, shall become fully vested with all the rights, powers, duties and obligations of its
predecessor and for all purposes shall be the Depositary under this Deposit Agreement, and such
predecessor, upon payment of all sums due it and on the written request of the Company, shall
promptly execute and deliver an instrument transferring to such successor all rights and powers of
such predecessor hereunder, shall duly assign, transfer and

15

 

deliver all right, title and interest in the Stock and any moneys or property held hereunder
to such successor, and shall deliver to such successor a list of the record holders of all
outstanding Receipts and such records, books and other information in its possession relating
thereto. Any successor Depositary shall promptly mail notice of its appointment to the record
holders of Receipts.

          Any entity into or with which the Depositary may be merged, consolidated or converted shall be
the successor of such Depositary without the execution or filing of any document or any further
act, and notice thereof shall not be required hereunder. Such successor Depositary may authenticate
the Receipts in the name of the predecessor Depositary or in the name of the successor Depositary.

               SECTION 5.05. Corporate Notices and Reports. The Company agrees that it will deliver
to the Depositary, and the Depositary will, promptly after receipt thereof, transmit to the record
holders of Receipts, in each case at the addresses recorded in the Depositary’s books, copies of
all notices and reports (including without limitation financial statements) required by law, by the
rules of any national securities exchange upon which the Stock, the Depositary Shares or the
Receipts are listed or by the Company’s Restated Certificate of Incorporation (including the
Certificate), to be furnished to the record holders of Receipts. Such transmission will be at the
Company’s expense and the Company will provide the Depositary with such number of copies of such
documents as the Depositary may reasonably request. In addition, the Depositary will transmit to
the record holders of Receipts at the Company’s expense such other documents as may be requested by
the Company.

               SECTION 5.06. Indemnification by the Company. Notwithstanding Section 5.03 to the
contrary, the Company shall indemnify the Depositary, any Depositary’s Agent and any Registrar
(including each of their officers, directors, agents and employees) against, and hold each of them
harmless from, any loss, damage, cost, penalty, liability or expense (including the reasonable
costs and expenses of defending itself) which may arise out of acts performed, suffered or omitted
to be taken in connection with this Agreement and the Receipts by the Depositary, any Registrar or
any of their respective agents (including any Depositary’s Agent) and any transactions or documents
contemplated hereby, except for any liability arising out of negligence, willful misconduct or bad
faith on the respective parts of any such person or persons. The obligations of the Company set
forth in this Section 5.06 shall survive any succession of any Depositary, Registrar or
Depositary’s Agent.

               SECTION 5.07. Fees, Charges and Expenses. The Company agrees promptly to pay the
Depositary the compensation to be agreed upon with the Company for all services rendered by the
Depositary hereunder and to reimburse the Depositary for its reasonable out-of-pocket expenses
(including reasonable counsel fees and expenses) incurred by the Depositary without negligence,
willful misconduct or bad faith on its part in connection with the services rendered by it
hereunder. The Company shall pay all charges of the Depositary in connection with the initial
deposit of the Stock and the initial issuance of the Depositary Shares, all withdrawals of shares
of the Stock by owners of Depositary Shares, and any redemption or exchange of the Stock at the
option of the Company. The Company shall pay all transfer and other taxes and governmental charges
arising solely from the existence of the depositary arrangements. All other transfer and other
taxes and governmental charges shall be at the

16

 

expense of holders of Depositary Shares evidenced by Receipts. If, at the request of a holder
of Receipts, the Depositary incurs charges or expenses for which it or the Company is not otherwise
liable hereunder, such holder will be liable for such charges and expenses; provided,
however, that the Depositary may, at its sole option, require a holder of a Receipt to
prepay the Depositary any charge or expense the Depositary has been asked to incur at the request
of such holder of Receipts. The Depositary shall present its statement for charges and expenses to
the Company at such intervals as the Company and the Depositary may agree.

ARTICLE VI

Amendment and Termination

               SECTION 6.01. Amendment. The form of the Receipts and any provisions of this Deposit
Agreement may at any time and from time to time be amended by agreement between the Company and the
Depositary in any respect which they may deem necessary or desirable; provided,
however, that no such amendment which shall materially and adversely alter the rights of
the holders of Receipts shall be effective unless such amendment shall have been approved by the
holders of at least a majority (or, in the case of amendments relating to or affecting rights to
receive dividends or distributions or voting or redemption rights, two-thirds of the holders) of
the Depositary Shares then outstanding. Every holder of an outstanding Receipt at the time any such
amendment becomes effective shall be deemed, by continuing to hold such Receipt, to consent and
agree to such amendment and to be bound by the Depositary Agreement as amended thereby. In no event
shall any amendment impair the right, subject to the provisions of Sections 2.05 and 2.06 and
Article III, of any owner of Depositary Shares to surrender any Receipt evidencing such Depositary
Shares to the Depositary with instructions to deliver to the holder the Stock and all money and
other property, if any, represented thereby, except in order to comply with mandatory provisions of
applicable law or the rules and regulations of any governmental body, agency or commission, or
applicable stock exchange.

               SECTION 6.02. Termination. This Agreement may be terminated by the Company or the
Depositary only if (i) all outstanding Depositary Shares have been redeemed pursuant to Section
2.08, (ii) there shall have been made a final distribution in respect of the Stock in connection
with any liquidation, dissolution or winding up of the Company and such distribution shall have
been distributed to the holders of Depositary Shares pursuant to Section 4.01 or 4.02, as
applicable or (iii) upon the consent of holders of Depositary Receipts representing not less than
two-thirds of the Depositary Shares outstanding. If this Agreement is terminated by the Company,
the Company shall provide not less than 60 days prior written notice to the Depositary, in which
case, at least 30 days prior to the date fixed in such notice for such termination, the Depositary
will mail notice of such termination to the record holders of all Receipts then outstanding.

          If any Receipts shall remain outstanding after the date of termination of this Deposit
Agreement, the Depositary thereafter shall discontinue the transfer of Receipts, shall suspend the
distribution of dividends to the holders thereof and shall not give any further notices (other than
notice of such termination) or perform any further acts under this Deposit Agreement, except that
the Depositary shall continue to collect dividends and other distributions pertaining to Stock,
shall sell rights, preferences or privileges as provided in this Deposit Agreement and shall

17

 

continue to deliver the Stock and any money and other property, if any, represented by
Receipts upon surrender thereof by the holders thereof. At any time after the expiration of two
years from the date of termination, the Depositary may sell Stock then held hereunder at public or
private sale, at such places and upon such terms as it deems proper and may thereafter hold the net
proceeds of any such sale, together with any money and other property held by it hereunder, without
liability for interest, for the benefit, pro rata in accordance with their holdings, of the holders
of Receipts that have not theretofore been surrendered. After making such sale, the Depositary
shall be discharged from all obligations under this Deposit Agreement except to account for such
net proceeds and money and other property.

          Upon the termination of this Deposit Agreement, the Company shall be discharged from all
obligations under this Deposit Agreement except for its obligations to the Depositary, any
Depositary’s Agent and any Registrar under Sections 5.06 and 5.07.

ARTICLE VII

Miscellaneous

               SECTION 7.01. Counterparts. This Deposit Agreement may be executed in any number of
counterparts, and by each of the parties hereto on separate counterparts, each of which
counterparts, when so executed and delivered, shall be deemed an original, but all such
counterparts taken together shall constitute one and the same instrument.

               SECTION 7.02. Exclusive Benefit of Parties. This Deposit Agreement is for the
exclusive benefit of the parties hereto, and their respective successors hereunder, and shall not
be deemed to give any legal or equitable right, remedy or claim to any other person whatsoever.

               SECTION 7.03. Invalidity of Provisions. In case any one or more of the provisions
contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions
contained herein or therein shall in no way be affected, prejudiced or disturbed thereby.

               SECTION 7.04. Notices. Any and all notices to be given to the Company hereunder or
under the Receipts shall be in writing and shall be deemed to have been duly given if personally
delivered or sent by mail, or by telegram or facsimile transmission confirmed by letter, addressed
to the Company at:

Merrill Lynch & Co., Inc.

4 World Financial Center, 22 Floor

New York, New York 10007

Attention: Treasurer

Facsimile No.: (212) 449-7481

with a copy to:

Merrill Lynch & Co., Inc.

222 Broadway, 17th Floor

18

 

New York, New York 10038

Attention: Corporate Secretary

Facsimile No.: (212) 670-4703

or at any other addresses of which the Company shall have notified the Depositary in writing.

          Any and all notices to be given to the Depositary hereunder or under the Receipts shall be in
writing and shall be deemed to have been duly given if personally delivered or sent by mail, or by
facsimile transmission confirmed by letter, addressed to the Depositary at the Depositary’s Office
at:

The Bank of New York

101 Barclay Street— Floor 8W

New York, New York 10286

Attention: Corporate Trust Administration

Facsimile No.: (212) 815-5704

or at any other address of which the Depositary shall have notified the Company in writing.

          Any and all notices to be given to any record holder of a Receipt hereunder or under the
Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or
sent by mail or facsimile transmission confirmed by letter, addressed to such record holder at the
address of such record holder as it appears on the books of the Depositary, or if such holder shall
have timely filed with the Depositary a written request that notices intended for such holder be
mailed to some other address, at the address designated in such request.

          Delivery of a notice sent by mail or by facsimile transmission shall be deemed to be effected
at the time when a duly addressed letter containing the same (or a confirmation thereof in the case
of a facsimile transmission) is deposited, postage prepaid, in a post office letter box. The
Depositary or the Company may, however, without liability act upon any facsimile transmission
received by it from the other or from any holder of a Receipt, notwithstanding that such facsimile
transmission shall not subsequently be confirmed by letter or as aforesaid.

               SECTION 7.05. Depositary’s Agents. The Depositary may from time to time appoint
Depositary’s Agents to act in any respect for the Depositary for the purposes of this Deposit
Agreement and may at any time appoint additional Depositary’s Agents and vary or terminate the
appointment of such Depositary’s Agents. The Depositary will promptly notify the Company of any
such action.

               SECTION 7.06. Appointment of Registrar and Transfer Agent in respect of the Depositary
Shares and Receipts. The Company hereby appoints the Depositary as Registrar, transfer agent,
dividend disbursing agent and redemption agent in respect of the Depositary Shares and the related
Receipts and the Depositary hereby accepts such appointments.

               SECTION 7.07. Appointment of Registrar and Transfer Agent in respect of the Stock.
The Company hereby appoints The Bank of New York as transfer agent, registrar, dividend disbursing
agent and redemption agent in respect of the Stock, and The Bank of New York hereby accepts such
appointments. With respect to the appointments of The Bank of New

19

 

York as transfer agent, registrar, dividend disbursing agent and redemption agent in respect
of the Stock, The Bank of New York shall be entitled to the same rights, indemnities, immunities
and benefits as Depositary hereunder as if explicitly named in each such provision. Notwithstanding
anything to the contrary contained herein, The Bank of New York in no capacity hereunder shall have
any duties or obligations to make or verify any calculations hereunder.

               SECTION 7.08. Holders of Receipts Are Parties. The holders of Receipts from time to
time shall be parties to this Deposit Agreement and shall be bound by all of the terms and
conditions hereof and of the Receipts by acceptance of delivery thereof.

               SECTION 7.09. Governing Law. This Deposit Agreement and the Receipts and all rights
hereunder and thereunder and provisions hereof and thereof shall be governed by, and construed in
accordance with, the laws of the State of New York without giving effect to applicable conflicts of
law principles.

               SECTION 7.10. Inspection of Deposit Agreement. Copies of this Deposit Agreement shall
be filed with the Depositary and the Depositary’s Agents and shall be open to inspection during
business hours at the Depositary’s Office and the respective offices of the Depositary’s Agents, if
any, by any holder of a Receipt.

               SECTION 7.11. Headings. The headings of articles and sections in this Deposit
Agreement and in the form of the Receipt set forth in Exhibit A hereto have been inserted for
convenience only and are not to be regarded as a part of this Deposit Agreement or the Receipts or
to have any bearing upon the meaning or interpretation of any provision contained herein or in the
Receipts.

20

 

     IN WITNESS WHEREOF, the Company and the Depositary have duly executed this Agreement as of the
day and year first above set forth, and all holders of Receipts shall become parties hereto by and
upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof.

	 	 	 	 	 
	MERRILL LYNCH & CO., INC.	 	 
	 
	 	 	 	 
	By       

	 	         /s/ John Thurlow	 	 
	 

	 	 	 	 
	 

	 	               John Thurlow	 	 
	 

	 	               Assistant Treasurer	 	 
	 
	 	 	 	 
	THE BANK OF NEW YORK, AS DEPOSITARY	 	 
	 
	 	 	 	 
	By       

	 	         /s/ Rafael Miranda 	 	 
	 

	 	 	 	 

21

 

EXHIBIT A

[FORM OF FACE OF RECEIPT]

			
	 	 	 
	NUMBER
	 	DEPOSITARY SHARES

DR

DEPOSITARY RECEIPT FOR DEPOSITARY SHARES, 

EACH REPRESENTING

ONE-TWELVE HUNDREDTH 

OF ONE SHARE OF 8.625% NON-CUMULATIVE

PREFERRED STOCK, SERIES 8,

OF

MERRILL LYNCH & CO., INC. INCORPORATED

UNDER THE LAWS OF THE STATE OF DELAWARE

CUSIP 59023V373

SEE REVERSE FOR CERTAIN DEFINITIONS

	 	 	 
	THE BANK OF NEW YORK, as Depositary (the “Depositary”), hereby certifies that
is the registered owner of

	 	DEPOSITARY SHARES

(“Depositary Shares”), each Depositary Share representing one-twelve hundredth of one share of
8.625% Non-Cumulative Preferred Stock, Series 8, par value $1.00 per share (the “Stock”), of
Merrill Lynch & Co., Inc., a Delaware corporation (the “Corporation”), on deposit with the
Depositary, subject to the terms and entitled to the benefits of the Deposit Agreement dated as of
April 29, 2008 (the “Deposit Agreement”), among the Corporation, the Depositary and the holders
from time to time of the Depositary Receipts. By accepting this Depositary Receipt, the holder
hereof becomes a party to and agrees to be bound by all the terms and conditions of the Deposit
Agreement. This Depositary Receipt shall not be valid or obligatory for any purpose or entitled to
any benefits under the Deposit Agreement unless it shall have been executed by the Depositary by
the manual signature of a duly authorized officer or, if executed in facsimile by the Depositary,
countersigned by a Registrar in respect of the Depositary Receipts by the manual signature of a
duly authorized officer thereof.

Dated:

THE BANK OF NEW YORK, Depositary

By        
                                                             
        

Authorized Officer

A-1

 

[FORM OF REVERSE OF RECEIPT]

MERRILL LYNCH & CO., INC.

     MERRILL LYNCH & CO., INC. WILL FURNISH WITHOUT CHARGE TO EACH RECEIPT HOLDER WHO SO REQUESTS A
COPY OF THE DEPOSIT AGREEMENT AND A COPY OR SUMMARY OF THE CERTIFICATE OF DESIGNATIONS OF THE
8.625% NON-CUMULATIVE PREFERRED STOCK, SERIES 8, OF MERRILL LYNCH & CO., INC. ANY SUCH REQUEST IS
TO BE ADDRESSED TO THE DEPOSITARY NAMED ON THE FACE OF THIS RECEIPT.

 

 

The Corporation will furnish without charge to each stockholder who so requests the powers,
designations, preferences and relative, participating, optional or other special rights of each
class of stock or series thereof of the Corporation, and the qualifications, limitations or
restrictions of such preferences and/or rights. Such request may be made to the Corporation or to
the Transfer Agent or Registrar.

EXPLANATION OF ABBREVIATIONS

The following abbreviations when used in the form of ownership on the face of this certificate
shall be construed as though they were written out in full according to applicable laws or
regulations. Abbreviations in addition to those appearing below may be used.

	 	 	 	 	 	 	 
	Phrase Abbreviation	 	Equivalent	 	Phrase Abbreviation	 	Equivalent
	JT TEN

	 	As joint tenants,
with right of
survivorship and
not as tenants in
common
	 	TEN BY ENT
	 	As tenants by the entireties
	 
	 	 	 	 	 	 
	TEN IN COM

	 	As tenants in common
	 	UNIF GIFT MIN ACT
	 	Uniform Gifts to Minors Act

	 	 	 	 	 	 	 	 	 	 	 
	Word	 	 	 	Word	 	 	 	Word	 	 
	Abbreviation	 	Equivalent	 	Abbreviation	 	Equivalent	 	Abbreviation	 	Equivalent
	ADM

	 	Administrator(s)

Administratrix
	 	EST

EX
	 	Estate, of Estate of
Executor(s),
Executrix
	 	PAR

PL
	 	Paragraph

Public Law
	AGMT

	 	Agreement
	 	FBO
	 	For the benefit of
	 	TR
	 	(As) trustee(s), for, of
	ART

	 	Article
	 	FDN
	 	Foundation
	 	U
	 	Under
	CH

	 	Chapter
	 	GDN
	 	Guardian(s)
	 	UA
	 	Under agreement
	CUST

	 	Custodian for
	 	GDNSHP
	 	Guardianship
	 	UW
	 	Under will of, Of will of,
	DEC

	 	Declaration
	 	MIN
	 	Minor(s)
	 	 	 	Under last will & testament

A-2

 

For
value received,                                         hereby sell(s),
assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE

 

 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

 

                                                            
Depositary Shares represented by the within Receipt, and do(es) hereby
irrevocably
constitute and appoint
                     Attorney to transfer the said
Depositary Shares on the books of the within named Depositary with full power of substitution in
the premises.

	 	 	 	 	 
	Dated
	 	 	 	 
	 

	 	 

	 	 

NOTICE: The signature to the assignment must correspond with the name as written upon the face of this Receipt in every particular, without alteration or enlargement or any change whatsoever.

	 	 	 
	SIGNATURE GUARANTEED
	 	 
	 

	 	 
	NOTICE: The signature(s) should be guaranteed by an
eligible guarantor institution (banks, stockbrokers,
savings and loan associations, and credit unions with
membership in an approved signature guarantee
medallion program), pursuant to Rule 17Ad-15 under the
Securities Exchange Act of 1934.
	 	 

A-3EX-10.1

    Exhibit 10.1

 

    CHANGE IN
    CONTROL AGREEMENT

 

    This CHANGE IN CONTROL AGREEMENT (the
    “Agreement”) is entered into on
    June 5, 2008 (the “Effective Date”)
    by and between Celanese Corporation (the
    “Company”) and Michael L. Summers (the
    “Executive”).

 

    The Company considers it essential to foster the continued
    employment of key management personnel. The Board of Directors
    of the Company (the “Board”) believes
    that it is in the best interests of the Company and its
    stockholders to assure the Company will have the continued
    dedication of Executive, notwithstanding the possibility, threat
    or occurrence of a Change in Control. The Board believes it is
    imperative to diminish the inevitable distraction of Executive
    by virtue of the personal uncertainties and risks created by a
    pending or threatened Change in Control and to encourage
    Executive’s full attention and dedication to the Company
    currently and in the event of any threatened or pending Change
    in Control. The Company also requests, and the Executive desires
    to give the Company, certain assurances with regard to the
    protection of Confidential Information and Intellectual Property
    of the Company and its Affiliates. Therefore, the Company and
    the Executive have entered into this Agreement.

 

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

 

    1.  Definitions:

 

    a. “Affiliate” shall mean, when used with
    respect to any person or entity, any other person or entity
    which controls, is controlled by or is under common control with
    the specified person or entity. As used in the immediately
    preceding sentence, the term “control” (with
    correlative meanings for “controlled by” and
    “under common control with”) shall mean, with respect
    to any entity, the ownership, directly or indirectly, of fifty
    percent (50%) or more of the outstanding equity interests in
    such entity.

 

    b. “Beneficial Owner” shall have the
    meaning given such term in
    Rule 13d-3
    of the General Rules and Regulations under the Securities
    Exchange Act of 1934, as amended (the “Exchange
    Act”).

 

    c. “Cause” shall mean
    (i) 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 thirty (30) days following written notice
    by the Company to Executive of such failure,
    (ii) conviction of, or a plea of nolo contendere to,
    (x) a felony under the laws of the United States or any
    state thereof or any similar criminal act in a jurisdiction
    outside the United States or (y) a crime involving moral
    turpitude, (iii) Executive’s willful malfeasance or
    willful misconduct which is demonstrably injurious to the
    Company or its Affiliates, (iv) any act of fraud by
    Executive, (v) any material violation of the Company’s
    code of conduct, (vi) any material violation of the
    Company’s policies concerning harassment or discrimination,
    (vii) Executive’s conduct that causes material harm to
    the business reputation of the Company or its Affiliates, or
    (viii) Executive’s breach of the provisions of
    Sections 7 (Confidentiality; Intellectual Property) or 8
    (Non-Competition; Non-Solicitation) of this Agreement.

 

    d. A “Change In Control” will be deemed to
    have occurred for purposes hereof, upon any one of the following
    events: (a) any person (within the meaning of
    Sections 13(d) and 14(d) of the Exchange Act), other than
    the Company (including its subsidiaries, directors, and
    executive officers) has become the Beneficial Owner of thirty
    percent (30%) or more of the combined voting power of the
    Company’s then outstanding common stock or equivalent in
    voting power of any class or classes of the Company’s
    outstanding securities ordinarily entitled to vote in elections
    of directors (“Voting Securities”)
    (other than as a result of an issuance of securities by the
    Company approved by Incumbent Directors, or open market
    purchases approved by Incumbent Directors at the time the
    purchases are made); (b) individuals who constitute the
    Board as of the Effective Date (the “Incumbent
    Directors”) have ceased for any reason to
    constitute at least a majority thereof, provided that any person
    becoming a director after the Effective Date whose election, or
    nomination for election by the Company’s stockholders, was
    approved by a

    

    1

 

    majority of the directors comprising the Incumbent Board, either
    by a specific vote or by approval of the proxy statement of the
    Company in which such person is named as a nominee for director
    without objection to such nomination shall be an Incumbent
    Director; provided, however, that no individual initially
    elected or nominated as a director of the Company as a result of
    an actual or threatened election contest with respect to the
    election or removal of directors (“Election
    Contest”) or other actual or threatened
    solicitation of proxies or consents by or on behalf of any
    Person other than the Board (“Proxy
    Contest”), including by reason of any agreement
    intended to avoid or settle any Election Contest or Proxy
    Contest, shall be deemed an Incumbent Director; (c) the
    stockholders of the Company approve a reorganization, merger,
    consolidation, statutory share exchange or similar form of
    corporate transaction, or the sale or other disposition of all
    or substantially all of the Company’s assets (a
    “Transaction”), unless immediately
    following such Transaction, (i) all or substantially all of
    the Persons who were the Beneficial Owners of the Voting
    Securities outstanding immediately prior to such Transaction are
    the Beneficial Owners of more than 50% of the combined voting
    power of the then outstanding voting securities entitled to vote
    generally in the election of directors of the entity resulting
    from such Transaction (including, without limitation, an entity
    which as a result of such Transaction owns the Company or all or
    substantially all of the Company’s assets or stock either
    directly or through one or more subsidiaries, the
    “Surviving Entity”) in substantially the
    same proportions as their ownership, immediately prior to such
    Transaction, of the Voting Securities, (ii) no Person is
    the Beneficial Owner of 30% or more of the combined voting power
    of the then outstanding voting securities entitled to vote
    generally in the election of directors of the Surviving Entity,
    and (iii) at least a majority of the members of the board
    of directors of the Surviving Entity are Incumbent Directors; or
    (d) approval by the Company’s stockholders of a
    complete liquidation and dissolution of the Company.

 

    However, if in any circumstance in which the foregoing
    definition would be operative and with respect to which the
    income tax under Section 409A of the Code would apply or be
    imposed, but where such tax would not apply or be imposed if the
    meaning of the term “Change in Control” met the
    requirements of Section 409A(a)(2)(A)(v) of the Code, then
    the term “Change in Control” herein shall mean, but
    only for the transaction so affected, a “change in control
    event” within the meaning of Treas. Reg.
    § 1.409A — 3(i)(5).

 

    e. “Change In Control Protection Period”
    shall mean that period commencing on the date that the
    Company or a third party publicly announces an event that, if
    consummated, would constitute a Change In Control and ending
    (i) on the date that the circumstances giving rise to the
    announcement of the event are abandoned or withdrawn, or
    (ii) if such transaction is consummated, two years after
    the Change In Control.

 

    f. “COBRA” shall mean those provisions of
    the Consolidated Omnibus Budget Reconciliation Act of 1986, as
    amended, related to continuation of group health and dental plan
    coverage as set forth in Code section 4980B.

 

    g. “Code” shall mean the Internal Revenue
    Code of 1986, as amended from time to time.

 

    h. “Competitive Business” shall mean
    businesses that compete with products and services offered by
    the Company in those countries where the Company or any of its
    Affiliates manufactures, produces, sells, leases, rents,
    licenses or otherwise provides its products or services during
    the two (2) years preceding the Termination Date
    (including, without limitation, businesses which the Company or
    its Affiliates have specific plans to conduct in the future that
    were disclosed or made available to Executive), provided that,
    if Executive’s duties were limited to particular product
    lines or businesses during such period, the Competitive Business
    shall be limited to those product lines or businesses in those
    countries for which the Executive had such responsibility.

 

    i. “Confidential Information” shall mean
    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, benefits,
    recruiting, training, advertising, sales, marketing,

    

    2

 

    promotions, government and regulatory activities and approvals
    concerning the past, current or future business, activities and
    operations of the Company, its Affiliates
    and/or any
    third party that has disclosed or provided any of same to the
    Company or its Affiliates on a confidential basis.
    “Confidential Information” also includes any
    information designated as a trade secret or proprietary
    information by operation of law or otherwise, but shall not be
    limited by such designation. “Confidential
    Information” shall not include any information that is
    (i) generally known to the industry or the public other
    than as a result of Executive’s breach of this covenant;
    (ii) made legitimately available to Executive by a third
    party without breach of any confidentiality obligation; or
    (iii) required by law to be disclosed; provided 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.

 

    j. “Controlled Group” shall mean all
    corporations or business entities that are, along with the
    Company, members of a controlled group of corporations or
    businesses, as defined in Code Sections 414(b) and 414(c),
    except that the language “at least 50 percent” is
    used instead of “at least 80 percent” in applying
    the rules of Code Sections 414(b) and 414(c).

 

    k. “Fiscal Year” shall mean the fiscal
    year of the Company.

 

    l. “Good Reason” shall mean any of the
    following conditions which occurs without the consent of the
    Executive: (i) a material diminution in the
    Executive’s base salary or annual bonus opportunity;
    (ii) a material diminution in the Executive’s
    authority, duties, or responsibilities (including status,
    offices, titles and reporting requirements); (iii) a
    material change in the geographic location at which the
    Executive must perform his duties; (iv) failure of the
    Company to pay compensation or benefits when due, or
    (v) any other action or inaction that constitutes a
    material breach by the Company of this Agreement. The conditions
    described above will not constitute “Good Reason”
    unless the Executive provides written notice to the Company of
    the existence of the condition described above within ninety
    (90) days after the initial existence of such condition. In
    addition, the conditions described above will not constitute
    “Good Reason” unless the Company fails to remedy the
    condition within a period of thirty (30) days after receipt
    of the notice described in the preceding sentence. If the
    Company fails to remedy the condition within the period referred
    to in the preceding sentence, Executive may terminate his
    employment with the Company for “Good Reason” within
    in the next thirty (30) days following the expiration of
    the cure period.

 

    m. “Notice of Termination” shall mean a
    notice which shall indicate the general reasons for the
    termination employment and the circumstances claimed to provide
    a basis for termination of employment or other Separation of
    Service under the provision so indicated.

 

    n. “Person” shall mean any person, firm,
    partnership, joint venture, association, corporation or other
    business organization, entity or enterprise whatsoever.

 

    o. “Restricted Period” shall be
    (i) one year from the Termination Date in the event of a
    Separation from Service that occurs during the Service Term (as
    defined hereinafter) other than in the case of an involuntary
    Separation from Service without Cause, (ii) in the case of
    an involuntary Separation from Service without Cause during the
    Service Term, an amount of time in whole months equal to the
    number of months’ salary the Company agrees to provide to
    Executive in severance, whether paid over time or in a lump sum;
    and (iii) two years from the Termination Date in the event
    of a Separation from Service following a Change In Control where
    Executive receives the Change In Control Payment (as defined
    hereinafter).

 

    p. “Separation from Service” shall mean an
    event after which the Executive shall no longer provide services
    to the members of the Controlled Group, whether voluntarily or
    involuntarily as determined by the Committee (as hereafter
    defined) in accordance with Treas. Reg.
    § 1.409A-1(h)(1). A Separation from Service shall
    occur when Executive has experienced a termination of employment
    from the members of the Controlled Group. Executive shall be
    considered to have experienced a termination of employment when
    the facts and circumstances indicate that the Executive and the
    Company reasonably anticipate that either (i) no further
    services will be performed for the members of the Controlled
    Group after a certain

    

    3

 

    date, or (ii) that the level of bona fide services the
    Executive will perform for the members of the Controlled Group
    after such date (whether as an employee or as an independent
    contractor) will permanently decrease to no more than 20% of the
    average level of bona fide services performed by such Executive
    (whether as an employee or an independent contractor) over the
    immediately preceding
    36-month
    period (or the full period of services to the members of the
    Controlled Group if the Executive has been providing services to
    the members of the Controlled Group less than 36 months).
    If Executive is on military leave, sick leave, or other bona
    fide leave of absence, the employment relationship between the
    Executive and the members of the Controlled Group shall be
    treated as continuing intact, provided that the period of such
    leave does not exceed 6 months, or if longer, so long as
    the Executive retains a right to reemployment with the members
    of the Controlled Group under an applicable statute or by
    contract. If the period of a military leave, sick leave, or
    other bona fide leave of absence exceeds 6 months and the
    Executive does not retain a right to reemployment under an
    applicable statute or by contract, the employment relationship
    shall be considered to be terminated for purposes of this
    Agreement as of the first day immediately following the end of
    such 6-month
    period. In applying the provisions of this paragraph, a leave of
    absence shall be considered a bona fide leave of absence only if
    there is a reasonable expectation that the Executive will return
    to perform services for any members of the Controlled Group.

 

    Notwithstanding the foregoing provisions, if Executive provides
    services for the Company as both an employee and as a
    non-employee director, to the extent permitted by Treas. Reg.
    § 1.409A-1(h)(5) the services provided by such
    Executive as a non-employee director shall not be taken into
    account in determining whether the Executive has experienced a
    Separation from Service.

 

    q. “Target Bonus” shall mean the target
    bonus for Executive under any annual bonus plan in effect from
    time to time as determined by the Compensation Committee (the
    “Committee”) or the Board.

 

    r. “Termination Date” shall mean the date
    upon which a Separation from Service with respect to an
    Executive occurs.

 

    2.  Term of Change In Control Agreement.

 

    a. This Agreement shall be for an initial term (the
    “Initial Term”) of two years and shall
    continue to renew for consecutive two year terms thereafter (a
    “Renewal Term”), unless either party
    shall give written notice to the other (a “Notice of
    Non-Renewal”) that such agreement shall not renew
    at least ninety (90) days prior to the expiration of the
    Initial Term or Renewal Term then in effect. Notwithstanding the
    foregoing, the Company may not give a Notice of Non-Renewal
    during the Change In Control Protection Period.

 

    b. This Agreement, except those provisions which shall
    survive under Section 11(k), shall terminate upon the
    termination of Executive’s employment for any reason other
    than the termination of Executive’s employment during the
    Change In Control Protection Period (x) by the Company
    without Cause or (y) by the Executive with Good Reason. No
    payment under this Agreement will be due to Executive upon
    termination of Executive’s employment for any reason other
    than as specified in (x) or (y) above.

 

    3.  Executive’s Incumbent Position.

 

    a. Unless notified otherwise by the Chief Executive Officer
    of the Company or the Board, Executive shall serve as Senior
    Vice President, Human Resources (“Executive’s
    Incumbent Position”). In such position, Executive
    shall have such duties and authority as shall be determined from
    time to time by the Chief Executive Officer and the Board. If
    requested, Executive shall also serve as a member of the Board
    without additional compensation. The period during which the
    Executive shall be employed by the Company shall be called the
    “Service Term”.

 

    b. Except as provided in Section 5, (i) either
    Company or Executive may terminate the employment relationship
    at any time, with or without Cause or Good Reason,
    (ii) this Agreement shall not be construed as giving the
    Executive any right to be retained in the employ of the Company
    or its Affiliates, (iii) the Company may at any time
    terminate the Executive free from any liability of any claim
    under this

    

    4

 

    Agreement, except as expressly provided herein; and
    (iv) the Company may demote Executive at any time in its
    absolute and sole discretion without liability to the Executive.

 

    c. During the Service 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
    continuing 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 Sections 7 or 8. Executive shall promote the
    goodwill of the Company with its employees, customers,
    stockholders, vendors, and the general public. During the
    Service Term, reasonable business expenses incurred by Executive
    in the performance of Executive’s duties hereunder and to
    support the goodwill and business relationships of the Company
    shall be reimbursed by the Company in accordance with Company
    policies.

 

    4.  Obligations of the Company upon Change In
    Control with Respect to Long-Term Incentive Awards and Deferred
    Compensation.

 

    The effect of a change in control on any long-term incentive
    awards (cash or equity) or deferred compensation previously
    granted to the Executive under the 2008 Deferred Compensation
    Plan, 2004 Stock Incentive Plan or the 2004 Deferred
    Compensation Plan, as amended, (the “Long-Term
    Incentive Awards”) shall be governed by the terms
    and conditions of the applicable individual award agreements or
    deferral agreements and the Celanese Corporation 2008 Deferred
    Compensation Plan, the 2004 Stock Incentive Plan or the 2004
    Deferred Compensation Plan, as amended (collectively, the
    “Long-Term Incentive Award Agreements”),
    and shall not be governed by this Agreement.

 

    5.  Termination of Employment Connected with a
    Change In Control.

 

    a. Upon Executive’s Separation from Service during the
    Change In Control Protection Period, Executive shall receive the
    Change In Control Payment if and only if the following
    conditions occur:

 

    (i) The Change In Control is consummated;

 

    (ii) Executive is employed in the Executive Incumbent
    Position or some substantially equivalent or higher position for
    the Company as of the commencement of the Change In Control
    Protection Period;

 

    (iii) Executive’s employment is terminated either by
    the Company without Cause or by the Executive with Good Reason
    such that a Separation from Service occurs;

 

    (iv) Within fifty-three (53) days after both
    conditions in Sections 5(a)(i) and 5(a)(iii), or at the
    expiration of twenty-one (21) days following the
    presentation of the release, Executive executes a release of all
    claims, known or unknown, against the Company, its Affiliates,
    and their respective agents in a form satisfactory to the
    Company similar to that attached hereto as Exhibit A and
    does not timely revoke such release before the expiration of
    seven (7) days following his or her execution of the
    release; and

 

    (v) Within fifty-three (53) days after both conditions
    in Sections 5(a)(i) and 5(a)(iii), Executive reaffirms in
    writing in a manner satisfactory to the Company his or her
    obligations under Sections 7 and 8 of this Agreement.

 

    b. The “Change In Control Payment”
    shall be equal to two times the sum of
    (i) Executive’s then current annualized base salary;
    and (ii) the higher of (x) Executive’s Target
    Bonus in effect on the last day of the Fiscal Year that ended
    immediately prior to the year in which the Termination Date
    occurs, or (y) the average of the cash bonuses paid by the
    Company to Executive for the three Fiscal Years preceding the
    Termination Date.

    

    5

 

    c. The Change In Control Payment shall be paid in a single
    lump sum to Executive six (6) months and one day after the
    Executive’s Termination Date, together with interest at the
    rate provided in Section 1274(b)(2)(B) of the Code.

 

    d. Provided that (i) all of the conditions in
    Section 5(a) are met, (ii) Executive makes a timely
    COBRA election, and (iii) Executive has complied in all
    material respects with regard to the obligations of
    Sections 7 and 8 of this Agreement, if the Executive timely
    remits to the Company the applicable “COBRA” premiums
    for such coverage, the Company will continue to provide group
    health and dental coverage under the Company’s medical plan
    for Executive and his or her dependents during the Restricted
    Period; and will reimburse Executive for all premiums paid by
    Executive for such continued coverage. Such reimbursements will
    be made within thirty (30) days after Executive’s
    payment of such premiums (or submission of a request for
    reimbursement and satisfactory proof of such payment) but in no
    event later than on or before the last day of the
    Executive’s tax year following the tax year in which the
    expense was incurred. The amount of COBRA premiums and health
    and dental expenses eligible for reimbursement during
    Executive’s tax year may not affect the COBRA premiums and
    health and dental expenses eligible for reimbursement in any
    other tax year.

 

    e.  Certain Further Payments Due Executive

 

    (i) In the event that any amount or benefit paid or
    distributed to Executive pursuant to this Agreement
    and/or any
    amounts or benefits otherwise paid or distributed to Executive
    by the Company that are treated as parachute payments under
    Section 280G of the Code (such payments, collectively, the
    “Covered Payments”), are or become subject to
    the tax imposed under Section 4999 of the Code or any
    similar tax that may hereafter be imposed (the “Excise
    Tax”), the Company will pay to Executive an additional
    amount (the “Tax Reimbursement Payment”), such
    that the net amount retained by Executive with respect to such
    Covered Payments, after deduction of any Excise Tax (as well as
    any penalties and interest thereon) on the Covered Payments and
    any Federal, state and local income tax, payroll tax, and Excise
    Tax on the Tax Reimbursement Payment provided for by this
    subsection (e), but before deduction for any Federal, state or
    local income or employment tax withholding on such Covered
    Payments, will be equal to the amount of the Covered Payments,
    together with an amount equal to the product of any deductions
    disallowed to Executive for federal, state, or local income tax
    purposes because of the inclusion of the Tax Reimbursement
    Payment in Executive’s adjusted gross income multiplied by
    the highest applicable marginal rate of federal, state, or local
    income taxation, respectively, for the calendar year in which
    the Tax Reimbursement Payment is to be made. The time for
    payment of the Tax Reimbursement Payment is set forth in
    subsection (e)(v) below. The Tax Reimbursement Payment is
    intended to place the Executive in the same position he would
    have been in if the Excise Tax did not apply.

 

    (ii) For purposes of determining whether any of the Covered
    Payments will be subject to the Excise Tax and the amount of
    such Excise Tax,

 

    (A) such Covered Payments will be treated as
    “parachute payments” within the meaning of
    Section 280G of the Code, and all “parachute
    payments” in excess of the “base amount” (as
    defined under Section 280G(b)(3) of the Code) will be
    treated as subject to the Excise Tax, unless, and except to the
    extent that, in the good faith judgment of a public accounting
    firm appointed by the Company or tax counsel selected by such
    accounting firm (the “Accountants”), the
    Company has a reasonable basis to conclude that such Covered
    Payments (in whole or in part) either do not constitute
    “parachute payments” or represent reasonable
    compensation for personal services actually rendered (within the
    meaning of Section 280G(b)(4)(B) of the Code) in excess of
    the “base amount,” or such “parachute
    payments” are otherwise not subject to such Excise
    Tax; and

 

    (B) the value of any non-cash benefits or any deferred
    payment or benefit will be determined by the Accountants in
    accordance with the principles of Section 280G of the Code.

    

    6

 

    (iii) For purposes of determining the amount of the Tax
    Reimbursement Payment, Executive will be deemed to pay:

 

    (A) Federal income taxes at the highest applicable marginal
    rate of Federal income taxation for the calendar year in which
    the Tax Reimbursement Payment is to be made; and

 

    (B) any applicable state and local income taxes at the
    highest applicable marginal rate of taxation for the calendar
    year in which the Tax Reimbursement Payment is to be made, net
    of the maximum reduction in Federal income taxes which could be
    obtained from the deduction of such state or local taxes if paid
    in such year.

 

    (iv) In the event that the Excise Tax amount, if any,
    initially determined to be payable to the United States Treasury
    Department pursuant to this subsection (e) is later
    determined by the Accountants or pursuant to any proceeding or
    negotiations with the Internal Revenue Service to exceed the
    amount taken into account hereunder at the time the Tax
    Reimbursement Payment was initially determined (including, but
    not limited to, by reason of any payment the existence or amount
    of which could not be determined at the time of the Tax
    Reimbursement Payment), the Company will make an additional Tax
    Reimbursement Payment, in respect of such excess (including
    making a full Tax Reimbursement Payment in the event of an
    initial determination that no Excise Tax amount was due) (as
    well as any interest or penalty payable with respect to such
    payment) at the time specified in subsection (e)(v) below.

 

    In the event that the Excise Tax is subsequently determined by
    the Accountants or pursuant to any proceeding or negotiations
    with the Internal Revenue Service to be less than the amount
    taken into account under this subsection (e) in calculating
    the Tax Reimbursement Payment made, Executive will repay to the
    Company, at the time specified in subsection (e)(v) below, the
    portion of such prior Tax Reimbursement Payment that would not
    have been paid if the amount of the Excise Tax had been
    accurately calculated in determining such Tax Reimbursement
    Payment, plus interest on the amount of such repayment at the
    rate provided in Section 1274(b)(2)(B) of the Code.
    Notwithstanding the foregoing, in the event any portion of the
    Tax Reimbursement Payment to be refunded to the Company has been
    paid to any Federal, state or local tax authority, repayment
    thereof will not be required until actual refund or credit of
    such portion has been made to Executive, and interest payable to
    the Company will not exceed interest received or credited to
    Executive by such tax authority for the period it held such
    portion. Executive and the Company will mutually agree upon the
    course of action to be pursued (and the method of allocating the
    expenses thereof) if Executive’s good faith claim for
    refund or credit is denied (in whole or in part); provided that
    Executive will remain responsible to repay the Company for any
    such unrefunded Tax Reimbursement Payments to the extent
    Executive ultimately prevails in such claim.

 

    (v) The Tax Reimbursement Payment (or portion thereof)
    provided for in this subsection (e) will be paid to
    Executive within five (5) days after Executive remits the
    Excise Tax to the Internal Revenue Service but no later than the
    end of the Executive’s tax year following the tax year in
    which the Executive remits the Excise Tax to the Internal
    Revenue Service. Further, in the event that the initial Tax
    Reimbursement Payment was too little and additional Tax
    Reimbursement Payments are subsequently determined to be payable
    to Executive pursuant to subsection (e)(iv) above, such Tax
    Reimbursement Payment or additional Tax Reimbursement Payment
    amount will be made by the Company to Executive within five
    (5) days after the date that Executive remits such portion
    to the Internal Revenue Service, but no later than the end of
    the Executive’s tax year following the tax year in which
    the Executive remits such portion to the Internal Revenue
    Service. In the event that the amount of the estimated Tax
    Reimbursement Payment exceeds the amount subsequently determined
    to have been due, subject to the provisions of subsection
    (e)(iv), such excess will be payable by Executive to the Company
    on the fifth (5th) business day after written demand by the
    Company for payment (together with interest at the rate provided
    in Section 1274(b)(2)(B) of the Code). Company will
    reimburse the Executive for any interest, penalties or surcharge
    that may be imposed on the Executive in connection with any
    Excise Tax (including a reimbursement of any additional taxes

    

    7

 

    imposed as a result of the reimbursement of any such interest,
    penalties or surcharge) within five (5) days after payment
    by the Executive, but in no event later than on or before the
    last day of the Executive’s tax year following the tax year
    in which the interest, penalties, surcharge or other taxes are
    imposed, such reimbursement obligation shall remain in effect
    during the applicable statute of limitations relating to any
    such interest, penalties or surcharge (but in no event shall
    remain in effect for longer than 10 years), and the amount
    of expenses eligible for reimbursement hereunder during
    Executive’s tax year will not affect the expenses eligible
    for reimbursement in any other tax year.

 

    (vi) The Tax Reimbursement Payment due under this
    subsection (e) shall not exceed two million dollars
    ($2,000,000).

 

    (vii) If the amount of the Covered Payments is equal to or
    less than 110% of the product of 2.99 and Executive’s
    applicable “base amount” (as such term is defined for
    purposes of Section 4999 of the Code), the Covered Payments
    under this Agreement or otherwise shall be reduced by the
    minimum amount necessary so that none of the Covered Payments
    are subject to the excise tax under Section 4999 of the
    Code; provided, however, that this subsection (e)(vii) shall not
    apply if, even after all Covered Payments due hereunder are
    reduced to zero, the value of the Covered Payments would still
    be subject to the excise tax under Section 4999 of the
    Code, in which case no reduction of any Covered Payments shall
    be made.

 

    f. Notwithstanding any provision of this Agreement to the
    contrary, if Executive is a “Specified Employee”
    within the meaning of Treasury Regulation §1.409A-1(i) and
    if any payment under this Agreement provides for a
    “deferral of compensation” within the meaning of
    Treasury Regulation §1.409A-1(b) and if such payment would
    otherwise occur before the date that is six (6) months
    after the Executive’s Termination Date, then such payment
    shall be delayed and shall occur on the date that is six
    (6) months and one (1) day after the Termination Date
    (or, if earlier, the date of the Executive’s death),
    together with interest at the rate provided in
    Section 1274(b)(2)(B) of the Code.

 

    6.  Exclusivity of
    Benefits.  Executive acknowledges that this
    Agreement supercedes and replaces all prior agreements or
    understandings Executive may have with the Company with respect
    to compensation or benefits that may become payable in
    connection with or as a result of a change in control of the
    Company, whether or not such change in control constitutes a
    Change In Control, including any provisions contained in any
    employment agreement, offer letter or change in control
    agreement, except with respect to any Long-Term Incentive Awards
    which shall be governed by the terms of the Long-Term Incentive
    Award Agreements. This Agreement also describes all payments and
    benefits that the Company shall be obligated to provide to
    Executive upon Executive’s Separation from Service during a
    Change In Control Protection Period and shall constitute
    Executive’s agreement to waive any rights to payment under
    the Celanese Americas Separation Pay Plan, any similar or
    successor plan adopted by the Company, and any other term of
    employment contained in any employment agreement, offer letter,
    change in control agreement or otherwise (other than benefits to
    which he/she
    may be entitled, if any: (i) under any Celanese plan
    qualified under Section 401(a) of the Internal Revenue
    Code, including the Celanese Americas Retirement Pension Plan
    and Celanese Americas Retirement Savings Plan; and
    (ii) under the 2008 Celanese Deferred Compensation Plan) to
    the extent that the circumstances giving right to such right to
    payment would constitute a Separation of Service during a Change
    In Control Protection Period.

 

    7.  Confidentiality; Intellectual Property.

 

    a. Confidentiality.

 

    (i) Based upon the assurances given by the Executive in
    this Agreement, the Company will provide Executive with access
    to its Confidential Information. Executive hereby reaffirms that
    all Confidential Information received by Executive prior to the
    termination of this Agreement is the exclusive property of the
    Company and Executive releases any individual claim to the
    Confidential Information.

 

    (ii) 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, make available, transfer or provide
    access to any

    

    8

 

    Person outside the Company (other than its professional advisers
    who are bound by confidentiality obligations), any Confidential
    Information without the prior written authorization of the Board.

 

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

 

    (iv) If Executive has previously entered into any
    confidentiality or non-disclosure agreements with any former
    employer, Executive hereby represents and warrants that such
    confidentiality
    and/or
    non-disclosure agreement or agreements have been fully disclosed
    and provided to the Company prior to commencing employment with
    the Company.

 

    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 B.

 

    (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 of 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.

    

    9

 

    (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 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.

 

    c. In the event Executive leaves the employ of the Company,
    Executive hereby grants consent to notification by the Company
    to any subsequent employer about Executive’s rights and
    obligations under this Agreement.

 

    8.  Non-Competition; Non-Solicitation.

 

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

 

    (i) During the Service Term and for 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 solicit or assist in soliciting in competition with
    the Company or its Affiliates, the business of any customer,
    prospective customer, client or prospective client:

 

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

 

    (B) with whom employees directly or indirectly reporting to
    Executive have had personal contact or dealings on behalf of the
    Company or its Affiliates during the one-year immediately
    preceding the termination of Executive’s employment; or

 

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

 

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

 

    (A) engage in any Competitive Business;

 

    (B) 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;

 

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

 

    (D) interfere with, or attempt to interfere with, business
    relationships (whether formed before, on or after the date of
    this Agreement) between the Company or any of its Affiliates and
    customers, clients, suppliers partners, members or investors of
    the Company or its Affiliates.

 

    (iii) 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.

 

    (iv) 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:

 

    (A) solicit, interview, encourage, or take any other action
    that would tend to influence in any manner 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

    

    10

 

    (B) hire any such employee who was employed by the Company
    or its Affiliates as of the Termination Date or who left the
    employment of the Company or its Affiliates coincident with, or
    within one year prior to or after, the Termination Date.

 

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

 

    c. Prior to the commencement thereof, Executive will
    provide written notice to the Company of any employment or other
    activity that would potentially violate the provisions of
    Sections 7 or 8 and, if Executive wishes to do so,
    Executive may ask the Board to modify or waive the protections
    of this Section 8, but nothing in this Agreement shall
    limit in any manner the Board’s absolute discretion not to
    do so.

 

    9.  Enforcement of Promises Concerning the
    Protection of the Company’s Confidential Information and
    Goodwill.  Executive acknowledges and agrees that
    the Company’s remedies at law for a breach or threatened
    breach of any of the provisions of Section 7 or
    Section 8 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 in or threatened breach, in addition
    to any remedies at law, the Company, without posting any bond,
    shall be entitled to 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. In addition, and without limiting the
    Company’s ability to obtain such equitable relief,
    Executive shall not be entitled to any Change In Control Payment
    if Executive materially violates the provisions of
    Sections 7 or 8 and, to the extent that such payments have
    already been made, Executive shall repay all Change In Control
    Payments immediately upon demand by the Company.

 

    10.  Section 409A Acknowledgement and
    Release.  Executive understands that payments
    under this Agreement are potentially subject to
    Section 409A of the Code and that if this Agreement does
    not satisfy an exception to Code Section 409A or does not
    comply with the requirements of Section 409A and the
    applicable guidance thereunder, then Executive may incur adverse
    tax consequences under Section 409A. Executive acknowledges
    and agrees that (a) Executive is solely responsible for all
    obligations arising as a result of the tax consequences
    associated with payments under this Agreement including, without
    limitation, any taxes, interest or penalties associated with
    Section 409A, (b) Executive is not relying upon any
    written or oral statement or representation by the Company or
    any Affiliate thereof, or any of their respective employees,
    directors, officers, attorneys or agents (collectively, the
    “Company Parties”) regarding the tax
    effects associated with the execution of this Agreement and the
    payment under this Agreement, and (c) in deciding to enter
    into this Agreement, Executive is relying on his or her own
    judgment and the judgment of the professionals of his or her
    choice with whom Executive has consulted. Executive hereby
    releases, acquits and forever discharges the Company Parties
    from all actions, causes of actions, suits, debts, obligations,
    liabilities, claims, damages, losses, costs and expenses of any
    nature whatsoever, known or unknown, on account of, arising out
    of, or in any way related to the tax effects associated with the
    execution of this Agreement and any payment hereunder.

 

    11.  Miscellaneous.

 

    a. Governing Law; Jurisdiction;
    Venue.  This Agreement shall be governed by and
    construed in accordance with the laws of the State of Texas,
    without regard to conflicts of laws principles thereof. Any
    action concerning or relating to this Agreement shall be filed
    only in the federal and state courts sitting in Dallas County,
    Texas.

    

    11

 

    b. Entire Agreement; Amendments.  This
    Agreement contains the entire understanding of the parties with
    respect to any Change In Control or the subject matter of this
    Agreement, provided however, that the effects of a change in
    control pursuant to the Long-Term Incentive Award Agreements
    shall be governed by the terms of such agreements and shall not
    be affected by this Agreement.

 

    c. No Waiver.  The failure of a party to
    insist upon strict adherence to any term of this Agreement, or
    any term of any agreement with any other employee, 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.

 

    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, in whole or in part, by the Company
    to a Person which is an Affiliate or a successor in interest to
    all or a substantial part 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.

 

    f. Successors; 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 (3) 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:

 

    Executive’s home address as set forth in the personnel
    records of

    the Company

 

    h. 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
    Executive’s employment hereunder.

 

    i. 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.

 

    j. 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.

 

    k. Survival.  The provisions of
    Sections 1 and 7 through 9 of this Agreement shall survive
    the termination of this Agreement.

    

    12

 

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

 

	 	 	 
	
    EXECUTIVE:
	
 
	
    Celanese Corporation:

	 

	

    By: /s/  Michael
    L. Summers

    
Michael
    L. Summers

	
 
	
    By: /s/  David
    N. Weidman

    
David
    N. Weidman

	
 
	
 
	
 

	

    Date: August 12, 2008

	
 
	

    Date: August 1,2008

    

    13

 

    EXHIBIT A

 

    FORM OF
    GENERAL RELEASE AGREEMENT

 

    AGREEMENT
    AND GENERAL RELEASE

 

    Celanese Corporation and its Affiliates (the
    “Company”), 1601 West LBJ Freeway, Dallas, Texas
    75234 and Michael L. Summers, his or her heirs, executors,
    administrators, successors, and assigns (“Executive”),
    enter into this Agreement and General Release (the
    “Release”) and agree as follows:

 

    1.  Last Day of Employment (Separation
    Date).  The last day of employment with the
    Company is [Insert Date] (the “Separation Date”).

 

    2.  Consideration.  In
    consideration for signing this Release and compliance with the
    promises made herein, Company and Executive agree:

 

    a.  Change In Control
    Payment.  The Company will pay the Change In
    Control Payment, as defined in the Change In Control Agreement
    between the Company and Executive dated on or about June 5,
    2008 (the “CIC Agreement”)
    1( and

    provide the reimbursements set forth in the CIC Agreement.
    Executive agrees that such payments are the exclusive payments
    due to Executive arising out of the separation of
    Executive’s employment.

 

    b.  Unused Vacation.  The
    Company will pay to Executive wages for prorated unused vacation
    as of the Separation Date.

 

    c.  Benefits.  The Executive
    shall be entitled to elect to continue group health and dental
    coverage under COBRA and shall be reimbursed for such premiums
    as provided in the CIC Agreement. Executive’s rights in any
    other employee benefit plans of the Company will be as provided
    in the relevant plan documents.

 

    3.  No Consideration Absent Execution of this
    Agreement.  Executive understands and agrees
    that he/she
    would not receive the consideration specified in Paragraph
    “2” above, unless the Executive signs this Agreement
    and General Release on the signature page without having revoked
    this Release pursuant to paragraph 14 below and the
    fulfillment of the promises contained herein.

 

    4.  General Release of
    Claims.  Executive knowingly and voluntarily
    releases and forever discharges the Company and its Affiliates,
    together with its predecessors, successors and assigns and the
    current and former employees, officers, directors and agents
    thereof (collectively, the “Released Parties”), of and
    from any and all claims, known and unknown, asserted and
    unasserted, Executive has or may have as of the date of
    execution of this Release to the full extent permitted by law,
    in all countries and jurisdictions in which the Released Parties
    conduct their respective business, including but not limited to
    the United States of America. Notwithstanding anything to the
    contrary herein, it is expressly understood and agreed that the
    terms and conditions of any Long-Term Incentive Awards shall
    continue to be governed by the applicable Long-Term Incentive
    Award Agreements and shall not be affected by this Release.

 

    5. Executive acknowledges and agrees that
    he/she has
    been paid all amounts owed to Executive as compensation, whether
    in the form of salary, bonus, equity compensation, benefits or
    otherwise. The release in Section 4 of this Release
    includes, but is not limited to, any alleged violation of the
    following, as may be amended or in effect:

 

    (a) any action arising under or relating to any federal or
    state statute or local ordinance, such as:

 

			
	 	    • 
	
    Title VII of the Civil Rights Act of 1964;

 

			
	 	    • 
	
    The Civil Rights Act of 1991;

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

	 
	 	    • 
	
    The Employee Retirement Income Security Act of 1974;

 

 

    (  1 All

    capitalized terms shall have the same meaning as set forth in
    the CIC Agreement, unless otherwise stated.

    

    14

 

 

			
	 	    • 
	
    The Immigration Reform and Control Act;

	 
	 	    • 
	
    The Family and Medical Leave Act;

	 
	 	    • 
	
    The Americans with Disabilities Act of 1990;

	 
	 	    • 
	
    The Age Discrimination in Employment Act of 1967;

	 
	 	    • 
	
    The Workers Adjustment and Retraining Notification Act;

	 
	 	    • 
	
    The Occupational Safety and Health Act;

	 
	 	    • 
	
    The Sarbanes-Oxley Act of 2002;

	 
	 	    • 
	
    The Texas Commission on Human Rights Act;

	 
	 	    • 
	
    The Texas Minimum Wage Law;

	 
	 	    • 
	
    Equal Pay Law for Texas; and

	 
	 	    • 
	
    The Vocational Rehabilitation Act.

 

    (b) any other national, federal, state, province, or local
    civil or human rights law, or any other local, state, province,
    national 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;

 

    (c) any action under public policy, contract, tort, common
    law or equity, including, but not limited to, claims based on
    alleged breach of an obligation or duty arising in contract or
    tort, such as breach of contract, fraud, quantum meruit,
    invasion of privacy, wrongful discharge, defamation, infliction
    of emotional distress, assault, battery, malicious prosecution,
    false imprisonment, harassment, negligence, gross negligence,
    and strict liability;

 

    (d) any claim for lost, unpaid, or unequal wages, salary,
    or benefits, including, without limitation, any claim under the
    Fair Labor Standards Act, the Employee Retirement Income
    Security Act, the Equal Pay Act, the Texas Minimum Wage Law, the
    Texas Equal Pay Law, or any other local, state, or federal
    statute concerning classifications, wages, salary, or benefits,
    including calculations and deductions relating to same, as well
    as the employment, labor and benefits laws and regulations in
    all countries in addition to the United States of America,
    including but not limited to the United Kingdom and the Federal
    Republic of Germany; and

 

    (e) any other claim regardless of the forum in which it
    might be brought, if any, which Executive has, might have, or
    might claim to have against any of the Released Parties, for any
    and all injuries, harm, damages, wages, benefits, salary,
    reimbursements, penalties, costs, losses, expenses,
    attorneys’ fees,
    and/or
    liability or other detriment, if any, whatsoever and whenever
    incurred, suffered, or claimed by the Executive.

 

    6.  Affirmations.  Executive
    affirms that
    he/she has
    not filed, caused to be filed, or presently is a party to any
    claim, complaint, or action against the Released Parties in any
    forum or form, provided that this Release shall not affect the
    rights or responsibilities of the Equal Employment Opportunity
    Commission, or any other federal, state, or local authority with
    similar responsibilities (collectively, the
    “Commission”) to enforce any employment discrimination
    law, and that this Release shall not shall affect the right of
    Executive to file a charge of discrimination with the Commission
    or participate in any investigation. However, Executive waives
    any right to participate in any payment or benefit arising from
    any such charge, claim, or investigation.

 

    Executive 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 specifically in
    this Release. Executive 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.

    

    15

 

    Executive reaffirms that he or she will comply fully with
    Sections 7 through 9 of the CIC Agreement and that, if he
    or she violates such provisions, all consideration paid
    hereunder will be immediately due and payable back to the
    Company.

 

    7.  Governing Law and
    Interpretation.  This 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 Executive or Company breaches any provision of
    this Release, Executive and Company affirm that either may
    institute an action to specifically enforce any term or terms of
    this Release. Should any provision of this 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 Release in full force
    and effect.

 

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

 

    9.  Neutral Reference.  If
    contacted by another organization, the Company will only provide
    dates of employment and position.

 

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

 

    11.  Future Cooperation after Separation
    Date.  After separation, Executive 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 Executive 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 Executive within thirty (30) days of
    remittance by Executive to the Company of such time and expenses
    incurred, but in no event later than the end of the
    Executive’s tax year following the tax year in which the
    Executive 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
    Executive’s tax year will not affect the expenses eligible
    for reimbursement in any other tax year.

 

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

 

    13.  Review Period.  Executive
    is hereby advised
    he/she has
    until [Insert Date], twenty-one (21) calendar days, to
    review this Release and to consult with an attorney prior to
    execution of this Release. Executive agrees that any
    modifications, material or otherwise, made to this Release do
    not restart or affect in any manner the original twenty-one
    (21) calendar day consideration period.

 

    14.  Revocation Period and Effective
    Date.  In the event that Executive 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 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 Executive signs this
    Release at which time the Revocation Period shall expire.

    

    16

 

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

 

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

 

    17. HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL
    RELEASE, TO FULFILL THE PROMISES AND TO RECEIVE THE SUMS AND
    BENEFITS IN SECTION 2 ABOVE, EXECUTIVE FREELY AND
    KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS RELEASE
    INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS HE/SHE HAS OR
    MIGHT HAVE AGAINST COMPANY.

    

    17

 

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

 

	 	 	 
	
    EXECUTIVE:
	
 
	
    Celanese Corporation:

	 

	

    By: ­
    ­

	
 
	
    By: ­
    ­

	

     Michael L. Summers

	
 
	
 

	
 
	
 
	
 

	

    Date: ­
    ­

	
 
	
    Date: ­
    ­

    

    18

 

    EXHIBIT B

 

 

    [List
    of Works]

    

    19

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