Document:

Exhibit

Exhibit 10.3

[Form of 2019 Time-Based RSU Agreement]

CELANESE CORPORATION
2018 GLOBAL INCENTIVE PLAN 

TIME-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT 
DATED <<GRANT DATE>>

<<NAME>>

Pursuant to the terms and conditions of the Celanese Corporation 2018 Global Incentive Plan, you have been awarded Time-Based Restricted Stock Units, subject to the restrictions described in this Agreement. The Participant’s name and the number of Restricted Stock Units can be found in the Grant Summary located in the electronic stock plan award administration system maintained by the Company or its designee that contains a link to this Agreement which summary information is set forth in the appropriate records of the Company authorizing such award.

RSU Award

<<No. Units>> Units

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

CELANESE CORPORATION
2018 GLOBAL INCENTIVE PLAN

TIME-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT
This Time-Based Restricted Stock Unit Award Agreement (the “Agreement”) is made and entered into as of << Grant Date>> (the “Grant Date”), by and between Celanese Corporation, a Delaware corporation (the “Company”), and <<Name>> (the “Participant”).  Capitalized terms used, but not otherwise defined, herein shall have the meanings ascribed to such terms in the Celanese Corporation 2018 Global Incentive Plan (as amended from time to time, the “2018 Plan”).
1.Time-Based RSU Award:  In order to encourage the Participant’s contribution to the successful performance of the Company, the Company hereby grants to the Participant as of the Grant Date, pursuant to the terms of the 2018 Plan and this Agreement, an award (the “Award”) of time-based Restricted Stock Units (“RSUs”) representing the right to receive an equal number of Common Shares upon vesting.  The Participant hereby acknowledges and accepts such Award upon the terms and subject to the conditions, restrictions and limitations contained in this Agreement and the 2018 Plan. 

2.Time-Based Vesting:  Subject to Section 3 and Section 6 of this Agreement, <<Vest1>> RSUs shall vest on [<<Vest1>>; <<Vest2>>  RSUs shall vest on <<Vest2>>; <<Vest3>> RSUs shall vest on <<Vest3>>, for a total of <<RSUs>> RSUs]1 [<<Vesting Date>>]2 .  Each such date shall be referred to as a “Vesting Date”.  Each period between the Grant Date and a Vesting Date shall be referred to as a “Vesting Period”.

3.Effects of Certain Events Prior to Vesting:

(a)Upon the termination of the Participant’s employment by the Company without Cause or due to the Participant’s [Retirement,]3 death or Disability (other than as provided in Section 3(c)), a prorated portion of the RSUs that remain unvested will vest in an amount equal to (i) the unvested RSUs in each Vesting Period multiplied by (ii) a fraction, the numerator of which is the number of complete and partial calendar months from the Grant Date to the date of termination without Cause or due to the Participant’s [Retirement,] death or Disability, and the denominator of which is the number of complete and partial calendar months in each applicable Vesting Period, such product to be rounded up to the nearest whole number.  In any such case, such prorated number of unvested RSUs that vest in accordance with the preceding sentence will be subject to any applicable taxes under Section 7 upon such vesting, which may be rounded up in each case to avoid fractional shares.  In the case of termination of the Participant’s employment by the Company without Cause [or due to the Participant’s Retirement], the prorated RSUs will be settled in accordance with the provisions of Section 4 following the applicable Vesting Date(s).  In the case of termination of the Participant’s employment due to the Participant’s death or Disability and notwithstanding any provision of Section 4 to the contrary, the prorated RSUs will be settled as soon as administratively practicable (but in no event later than 2 1⁄2 months) after the date of such termination of employment due to death or Disability by delivery of a number of Common Shares equal to the number of such prorated RSUs.
	
				
	 
	 
	 
	 

	 
	 
	 
	 

	1 
	For time-based awards.

	2 
	For cliff-vesting awards.

	3 
	Remove all bracketed verbiage relating to "Retirement" and the effects thereof from award agreements given for retention or in other special circumstances; the verbiage should be retained (without brackets) for new hire awards.

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[To the extent permitted by applicable country, state or province law, as consideration for the vesting provisions upon Retirement contained above in this Section 3(a), upon Retirement, the Participant shall enter into a departure and general release of claims agreement with the Company that includes two-year noncompetition and non-solicitation covenants in a form acceptable to the Company.]
If at any time on or before a Vesting Date the Company determines, in its sole discretion, that the Participant engaged in an act constituting Cause, the Participant’s employment shall be considered to have been terminated for Cause, and his or her Award shall be forfeited and cancelled without consideration pursuant to Section 3(d), regardless of whether the Participant’s termination initially was considered to have been without Cause.  In each such case, the provisions of Section 3(a) are inapplicable.
(b)The remaining unvested portion of the Award shall be immediately forfeited and cancelled without consideration as of the date of the Participant’s termination of employment without Cause or due to the Participant’s [Retirement,] death or Disability.

(c)Notwithstanding any provision herein to the contrary, if the Participant’s employment with the Company is terminated by the Company in connection with a Qualifying Disposition, as determined by the Company in its sole discretion, other than for Cause, and regardless of whether the Participant [is then eligible for Retirement or] is offered employment with the acquiror or successor, then the entire unvested portion of the RSUs shall vest as of the date of such termination of employment and shall be settled as follows, subject to any applicable taxes under Section 7: 

(i) a prorated number of the unvested RSUs determined in accordance with the provisions of Section 3(a) had those provisions applied shall be settled in accordance with the provisions of Section 4 following the applicable Vesting Date(s); and 

(ii) the remaining number of the unvested RSUs shall be settled as soon as administratively practicable (but in no event later than 2 1⁄2 months) after the date of such termination of employment.

Notwithstanding the foregoing, in case of a termination of employment covered by this Section 3(c), if the Committee determines that the Participant has been offered employment with the acquiror or successor and in connection with that employment will receive a substitute award from the acquiror or successor with an equivalent (or greater) economic value and no less favorable vesting conditions as this Award, the Committee, in its sole discretion, may determine not to provide for the additional vesting under clause (ii) of Section 3(c).

(d)Upon the termination of the Participant’s employment for any other reason, the unvested portion of the Award shall be immediately forfeited and cancelled without consideration as of the date of the Participant’s termination of employment.

A Participant’s employment will be considered to have been terminated for Cause, and the Award forfeited and cancelled without consideration, if the Company determines, in its sole discretion, that the Participant engaged in an act constituting Cause at any time prior to a Vesting Date, regardless of whether the Participant’s termination initially was considered to have been without Cause.
4.Settlement of RSUs:  Subject to Sections 3, 6 and 7 of this Agreement, the Company shall deliver to the Participant (or to a Company-designated brokerage firm or plan administrator) as soon as administratively practicable following the applicable Vesting Date (but in no event later than 2 1⁄2 months 

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after the applicable Vesting Date), in complete settlement of all RSUs vesting on such Vesting Date, a number of Common Shares equal to the number of RSUs vesting on such Vesting Date.

5.Rights as a Stockholder:  The Participant shall have no voting, dividend or other rights as a stockholder with respect to the Award until the RSUs have vested and Common Shares have been delivered pursuant to this Agreement.

6.Change in Control; Dissolution: 

(a)Notwithstanding any other provision of this Agreement to the contrary, upon the occurrence of a Change in Control with respect to any unvested RSUs granted pursuant to this Agreement that have not previously been forfeited:

(1)    If (i) a Participant’s rights to the unvested portion of the Award are not adversely affected in connection with the Change in Control, or, if adversely affected, a substitute award with an equivalent (or greater) economic value and no less favorable vesting conditions is granted to the Participant upon the occurrence of a Change in Control, and (ii) the Participant’s employment is terminated by the Company (or its successor) without Cause within two years following the Change in Control, then the unvested portion of the Award (or, as applicable, the substitute award) shall immediately vest and a number of Common Shares equal to the number of unvested RSUs shall be delivered to the Participant within thirty (30) days following the date of termination, subject to the provisions of Section 7.
(2)    If a Participant’s right to the unvested portion of the Award is adversely affected in connection with the Change in Control and a substitute award is not made pursuant to Section 6(a)(1) above, then upon the occurrence of a Change in Control, the unvested portion of the Award shall immediately vest and a number of Common Shares equal to the number of unvested RSUs shall be delivered to the Participant within thirty (30) days following the Change in Control, subject to the provisions of Section 7; and
(b)Notwithstanding any other provision of this Agreement to the contrary, in the event of a corporate dissolution of the Company that is taxed under Section 331 of the Internal Revenue Code of 1986, as amended, then in accordance with Treasury Regulation Section 1.409A-3(j)(4)(ix)(A), this Agreement shall terminate and any RSUs granted pursuant to this Agreement that have not previously been forfeited shall immediately become Common Shares and shall be delivered to the Participant within thirty (30) days following such dissolution.

7.Income and Other Taxes:  The Company shall not deliver Common Shares in respect of any vested RSUs unless and until the Participant has made arrangements satisfactory to the Committee to satisfy applicable withholding tax obligations for US federal, state, and local income taxes (or the foreign counterpart thereof) and applicable employment taxes.   Unless otherwise permitted by the Committee, withholding shall be effectuated by withholding RSUs in connection with the vesting and/or settlement of RSUs.  Withholding shall be effected using the minimum statutory rates authorized by the U.S. Internal Revenue Service (for U.S. Participants) and applicable foreign counterparts; however, if the requirements of ASC Topic 718 (or any successor applicable equity accounting standard applicable to this Award) are changed, then the Company, at its discretion, may effectuate the withholding at the higher of (1) the minimum statutory rates authorized by the U.S. Internal Revenue Service (for U.S. Participants) and applicable foreign counterparts, or (2) a rate or method chosen by the Company consistent with ASC Topic 718 (or any successor applicable equity accounting standard applicable to this Award) and the U.S. Internal Revenue Service withholding regulations or other applicable tax requirements.  The Participant acknowledges that the Company shall have the right to deduct any taxes required to be withheld by law in connection with the 

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delivery of Common Shares issued in respect of any vested RSUs from any amounts payable by it to the Participant (including, without limitation, future cash wages).  The Participant acknowledges and agrees that amounts withheld by the Company for taxes may be less than amounts actually owed for taxes by the Participant in respect of the Award. Any vested RSUs shall be reflected in the Company’s records as issued on the respective dates of issuance set forth in this Agreement, irrespective of whether delivery of such Common Shares is pending the Participant’s satisfaction of his or her withholding tax obligations.

8.Securities Laws:  The Company may impose such restrictions, conditions or limitations as it determines appropriate as to the timing and manner of any resales by the Participant or other subsequent transfers by the Participant of any Common Shares issued as a result of the vesting or settlement of the RSUs, including without limitation (a) restrictions under an insider trading policy, and (b) restrictions as to the use of a specified brokerage firm for such resales or other transfers.  Upon the acquisition of any Common Shares pursuant to the vesting or settlement of the RSUs, the Participant will make or enter into such written representations, warranties and agreements as the Company may reasonably request in order to comply with applicable securities laws or with this Agreement and the 2018 Plan.  All accounts in which such Common Shares are held or any certificates for Common Shares shall be subject to such stop transfer orders and other restrictions as the Company may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any stock exchange or quotation system upon which the Common Shares are then listed or quoted, and any applicable federal or state securities law, and the Company may cause a legend or legends to be put on any such certificates (or other appropriate restrictions and/or notations to be associated with any accounts in which such Common Shares are held) to make appropriate reference to such restrictions.

9.Non-Transferability of Award:  The RSUs may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by the Participant other than by will or by the laws of descent and distribution, and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company; provided, that the Participant may designate a beneficiary, on a form provided by the Company, to receive any portion of the Award payable hereunder following the Participant’s death.

10.Other Agreements:  Subject to Sections 10(a) and 10(b) of this Agreement, this Agreement and the 2018 Plan constitute the entire understanding between the Participant and the Company regarding the Award, and any prior and/or contemporaneous agreements, understandings, representations, discussions, commitments or negotiations concerning the Award, whether written or oral, are superseded.  No oral statements or other prior written material not specifically incorporated into this Agreement, other than the 2018 Plan, shall be of any force or effect.

(a)The Participant acknowledges that as a condition to the receipt of the Award, the Participant: 
(1)    shall have delivered to the Company an executed copy of this Agreement; 
(2)    shall be subject to the Company’s stock ownership guidelines, to the extent applicable to the Participant; 
(3)    shall be subject to policies and agreements adopted by the Company from time to time, and applicable laws and regulations, requiring the repayment by the Participant of incentive compensation under certain circumstances, without any further act or deed or consent of the Participant; and
(4)    shall have delivered to the Company an executed copy of the Long-Term Incentive Claw-Back Agreement (if a current version of such Long-Term Incentive Claw-Back Agreement is not already on file, as determined by the Committee in its sole discretion).  

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For purposes hereof, “Long-Term Incentive Claw-Back Agreement” means an agreement between the Company and the Participant associated with the grant of long-term incentives of the Company, which contains terms, conditions, restrictions and provisions regarding one or more of (i) noncompetition by the Participant with the Company, and its customers and clients; (ii) non-solicitation and non-hiring by the Participant of the Company’s employees, former employees or consultants; (iii) maintenance of confidentiality of the Company’s and/or clients’ information, including intellectual property; (iv) nondisparagement of the Company; and (v) such other matters deemed necessary, desirable or appropriate by the Company for such an agreement in view of the rights and benefits conveyed in connection with an award.
(b)If the Participant is a non-resident of the U.S., there may be an addendum containing special terms and conditions applicable to awards in the Participant’s country.  The issuance of the Award to any such Participant is contingent upon the Participant executing and returning any such addendum in the manner directed by the Company.

11.Not a Contract for Employment; No Acquired Rights; Agreement Changes:  Nothing in the 2018 Plan, this Agreement or any other instrument executed in connection with the Award shall confer upon the Participant any right to continue in the Company’s employ or service nor limit in any way the Company’s right to terminate the Participant’s employment at any time for any reason.  The grant of RSUs hereunder, and any future grant of awards to the Participant under the 2018 Plan, is entirely voluntary and at the complete and sole discretion of the Company. Neither the grant of these RSUs nor any future grant of awards by the Company shall be deemed to create any obligation to grant any further awards, whether or not such a reservation is expressly stated at the time of such grants. The Company has the right, at any time and for any reason, to amend, suspend or terminate the 2018 Plan; provided, however, that no such amendment, suspension, or termination shall adversely affect the Participant’s rights hereunder.

12.Severability:  In the event that any provision of this Agreement is declared to be illegal, invalid or otherwise unenforceable by a court of competent jurisdiction, such provision shall be reformed, if possible, to the extent necessary to render it legal, valid and enforceable, or otherwise deleted, and the remainder of this Agreement shall not be affected except to the extent necessary to reform or delete such illegal, invalid or unenforceable provision.

13.Further Assurances:  Each party shall cooperate and take such action as may be reasonably requested by either party hereto in order to carry out the provisions and purposes of this Agreement.

14.Binding Effect:  The Award and this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective permitted heirs, beneficiaries, successors and assigns.

15.Electronic Delivery:  By executing this Agreement, the Participant hereby consents to the delivery of any and all information (including, without limitation, information required to be delivered to the Participant pursuant to applicable securities laws), in whole or in part, regarding the Company and its subsidiaries, the 2018 Plan, and the Award via electronic mail, the Company’s or a plan administrator’s web site, or other means of electronic delivery.

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16.Personal Data:  By accepting the Award under this Agreement, the Participant hereby consents to the Company’s use, dissemination and disclosure of any information pertaining to the Participant that the Company determines to be necessary or desirable for the implementation, administration and management of the 2018 Plan.

17.Governing Law:  The Award and this Agreement shall be interpreted and construed in accordance with the laws of the state of Delaware and applicable federal law.

18.Restricted Stock Units Subject to Plan:  By entering into this Agreement the Participant agrees and acknowledges that the Participant has received and read a copy of the 2018 Plan and the 2018 Plan’s prospectus.  The RSUs and the Common Shares issued upon vesting of such RSUs are subject to the 2018 Plan, which is hereby incorporated by reference.  In the event of any conflict between any term or provision of this Agreement and a term or provision of the 2018 Plan, the applicable terms and provisions of the 2018 Plan shall govern and prevail. 

19.Validity of Agreement:  This Agreement shall be valid, binding and effective upon the Company on the Grant Date.  However, the RSUs granted pursuant to this Agreement shall be forfeited by the Participant and this Agreement shall have no force and effect if it is not duly executed by the Participant and delivered to the Company on or before <<Date>>.

20.Headings:  The headings preceding the text of the sections hereof are inserted solely for convenience of reference, and shall not constitute a part of this Agreement, nor shall they affect its meaning, construction or effect.

21.Compliance with Section 409A of the Internal Revenue Code:  Notwithstanding any provision in this Agreement to the contrary, this Agreement will be interpreted and applied so that the Agreement does not fail to meet, and is operated in accordance with, the requirements of Section 409A of the Code.  The Company reserves the right to change the terms of this Agreement and the 2018 Plan without the Participant’s consent to the extent necessary or desirable to comply with the requirements of Code Section 409A.  Further, in accordance with the restrictions provided by Treasury Regulation Section 1.409A-3(j)(2), any subsequent amendments to this Agreement or any other agreement, or the entering into or termination of any other agreement, affecting the RSUs provided by this Agreement shall not modify the time or form of issuance of the RSUs set forth in this Agreement. In addition, if the Participant is a “specified employee” within the meaning of Code Section 409A, as determined by the Company, any payment made in connection with the Participant’s separation from service shall not be made earlier than six (6) months and one day after the date of such separation from service to the extent required by Code Section 409A.

22.Definitions:  The following terms shall have the following meanings for purposes of this Agreement, notwithstanding any contrary definition in the 2018 Plan:

(a)“Cause” means, as determined by the Company in its sole discretion, (i) the Participant’s willful failure to perform the Participant’s duties to the Company (other than as a result of total or partial incapacity due to physical or mental illness) for a period of 30 days following written notice by the Company to the Participant of such failure, (ii) the Participant’s conviction of, or a plea of nolo contendere to, (x) a felony under the laws of the United States or any state thereof or any similar criminal act in a jurisdiction outside the United States or (y) a crime involving moral turpitude, (iii) the Participant’s willful malfeasance or willful misconduct which is demonstrably injurious to the Company or its affiliates, (iv) any act of fraud by the Participant, (v) any violation of the Company’s business conduct policy, (vi) any violation of the Company’s policies concerning harassment or discrimination by the Participant, (vii) the Participant’s conduct that causes harm to the business reputation of the Company or its affiliates, or (viii) the Participant’s breach of any 

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confidentiality, intellectual property, noncompetition or non-solicitation provisions applicable to the Participant under the Long-Term Incentive Claw-Back Agreement or any other agreement between the Participant and the Company. “Cause”" shall be determined by the Company in its sole discretion, and such determination shall be final, binding, and conclusive on the Participant.

(b)“Change in Control” means:

(i)    Any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more of either (A) the then-outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that, for purposes of this subparagraph, the following acquisitions shall not constitute a Change of Control:  (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any Affiliate, or (iv) any acquisition pursuant to a transaction that complies with clauses (A), (B) or (C) in paragraph (iii) of this definition; or
(ii)    Individuals who, as of the effective date of this Agreement, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the effective date of this Agreement whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual was a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or
(iii)    Consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination, (A) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (B) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such corporation resulting from such 

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Business Combination) beneficially owns, directly or indirectly, 50% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or
(iv)    Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.
Notwithstanding the foregoing, if it is determined that an Award hereunder is subject to the requirements of Section 409A and the Change in Control is a “payment event” under Section 409A for such Award, the Company will not be deemed to have undergone a Change in Control unless the Company is deemed to have undergone a “change in control event” pursuant to the definition of such term in Section 409A.
(c)“Disability” has the same meaning as “Disability” in the Celanese Corporation 2008 Deferred Compensation Plan or such other meaning as determined by the Committee in its sole discretion, provided that in all events a “Disability” under this Agreement shall constitute a “disability” within the meaning of Treasury Regulation Section 1.409A-3(i)(4).

(d)“Qualifying Disposition” means a sale or other disposition by the Company or one or more subsidiaries of all or part of a business, business unit, segment or subsidiary in a stock, asset, merger or other similar transaction or combination thereof, and determined by the Committee to be a Qualifying Disposition.
[(e)    “Retirement” of the Participant shall mean a voluntary separation from service on or after the date when the Participant is both 55 years of age and has ten years of service with the Company, as determined by the Company in its discretion based on payroll records.  Retirement shall not include voluntary separation from service in which the Company could have terminated the Participant’s employment for Cause.]

[signature on following page]

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

	 
	 
	 

	 
	 
	 

	 
	 
	/s/ Mark C. Rohr
	 

	 
	By:
	Mark C. Rohr

	 
	 
	Chairman and Chief Executive Officer

Page 10Exhibit

Exhibit 10.4

AGREEMENT AND GENERAL RELEASE

Celanese Corporation, its’ subsidiaries and its affiliates (“Company” or “Celanese”), 222 W. Las Colinas Blvd., Irving, Texas 75039 and Peter G. Edwards, such person’s heirs, executors, administrators, successors, and assigns (“Executive”), agree that:

1.      Last Day of Employment. The last day of employment with the Company is: January 31, 2019 (“Separation Date”) and his last day of work in the office will be December 31, 2018. Unless otherwise expressly agreed to by the Company, if Executive voluntarily resigns with effect before the last day of work in the office, Executive shall immediately be removed from the payroll and forfeit all rights to the Consideration set forth in Paragraph 3 below. In order to remain on the payroll until the Separation Date (or Early Separation Date, as applicable) and receive the Consideration set forth in Paragraph 3 below, during the period of time prior to January 31, 2019, Executive shall comply with all Company policies and procedures and, up to December 31, 2018, perform Executive’s duties faithfully, to the best of Executive’s ability and to the satisfaction of the Company and to the promotion of its business as needed, including but not limited to work on projects assigned to Executive and assistance with transition duties. Before and after Executive ceases working in the office, he will be permitted to engage in activities during regular business hours related to his efforts to pursue other professional opportunities.
2.     [Reserved]
3.    Consideration.  Each separate installment under this Agreement and General Release (“Agreement”) shall be treated as a separate payment for purposes of determining whether such payment is subject to or exempt from compliance with the requirements of Section 409A of the Internal Revenue Code. In consideration for signing this Agreement and compliance with the promises made herein, the Company and Executive agree:

		
	a.
	Voluntary Resignation.  Executive agrees to voluntarily resign from employment with the Company by way of retirement effective on the Separation Date. Within three business days following the Effective Date of this Agreement, Executive will sign and deliver to the Company a voluntary resignation of employment letter using the format set forth at Exhibit A.

		
	b.
	Annual Bonus.  For 2018, Executive will be eligible to receive a bonus based on actual company performance and a personal modifier of no less than 1.0, payable on or about March 15, 2019.

		
	c.
	Long-Term Equity Awards (“LTI’s”).  Executive is a participant under various equity award agreements given by the Company (collectively, the “Equity Awards”). The Company and Executive agree, that, notwithstanding any provision in the Equity Awards to the contrary, based on the terms and provisions of this Agreement and the assumption of a departure on the Separation Date, Executive will vest in a prorated portion of the Equity Awards as summarized in Exhibit B, which units shall vest on the date they would otherwise vest if Executive’s employment had continued through each applicable 

vesting date. All of Executive’s Equity Awards that are not listed on Exhibit B shall be forfeited on the Separation Date. If Executive departs otherwise before the Separation Date, the proration of the Equity Awards on Exhibit B will be adjusted accordingly to reflect the earlier departure date.

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

		
	e.
	Unused Vacation.  The Company will pay to Executive wages for any unused vacation for 2019, and any approved vacation carried over from 2018, under the Company’s standard procedure for calculating and paying any unused vacation to separated employees. The gross amount due to Executive, less any lawful deductions, will be payable within 30 days of the Separation Date; subject to Executive providing the details of any vacation days utilized during 2018.

		
	f.
	Company Benefit Plans. If Executive applies for COBRA benefits, medical and dental coverage will continue according to the Employee’s current medical and dental plan elections, with no premium cost to the Employee after the Separation Date, until the earlier of two (2) full months after the last day in the month of the Separation Date, January 31, 2019, or the date on which the Executive becomes covered under another medical or dental plan. All other normal company programs (e.g., life insurance, LTD, 401(k) contributions, etc.) will continue until the Separation Date.

		
	g.
	COBRA Healthcare. If Executive has applied for COBRA benefits, Executive shall be entitled to elect to continue such COBRA coverage for up to sixteen (16) months, at Executive’s expense.

		
	h.
	Return of Company Property. Executive will surrender to the Company, on a mutually agreeable date, all Company materials, including, but not limited to Executive’s Company-provided laptop computer, phone, credit card, calling cards, etc. Executive will be responsible for any outstanding balances for any personal expenses charged on the Company credit card which have not already been reconciled.

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

		
	j.
	Indemnification and Protection. The Company will maintain in effect directors and officers liability insurance coverage which provides defense and indemnity to Executive equivalent to that provided to active officers and directors of the Company.  To the extent not otherwise covered by insurance, and to the maximum extent permitted by law and the Company’s Articles of Incorporation and other governing documents, the Company will defend, indemnify and hold Executive harmless from and against any legal claims, lawsuits, or liabilities arising out of or related to his service as an officer, employee or agent of the Company equivalent to that provided to active officers, employees or agents of the Company.

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4.No Consideration Absent Execution of this Agreement.  Executive understands and agrees that Executive would not receive the monies and/or benefits specified in Paragraph 3 above, unless Executive signs this Agreement on the signature page without having revoked this Agreement pursuant to Paragraph 16 below, signs the letters at Exhibit A, C, D and E and fulfills the promises contained herein.

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

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

		
	•
	The Civil Rights Act of 1991;

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

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

		
	•
	The Immigration Reform and Control Act, as amended;

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

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

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

		
	•
	The Occupational Safety and Health Act, as amended;

		
	•
	The Sarbanes-Oxley Act of 2002; 

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

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

		
	•
	The Texas Civil Rights Act, as amended;

		
	•
	The Texas Minimum Wage Law, as amended;

		
	•
	Equal Pay Law for Texas, as amended;

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

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

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

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

6.Affirmations. Executive affirms that Executive has not filed, caused to be filed, or presently is a party to any claim, complaint, or action against the Company in any forum or form. Provided, however, that the foregoing does not affect any right to file an administrative charge with the Equal 

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Employment Opportunity Commission (“EEOC”), OSHA, The National Labor Relations Board (“NLRB”), or a charge or complaint under applicable securities laws with the Securities and Exchange Commission (“SEC”) or any other federal, state, or municipal agency with appropriate jurisdiction (a “Government Agency”), subject to the restriction that if any such charge or complaint is filed, Employee agrees not to violate the confidentiality provisions of this Agreement, except by an order of a court having competent jurisdiction, if permitted by applicable law, or if in connection with confidential communications with a Government Agency or an investigation conducted by a Government Agency with appropriate jurisdiction. Employee further agrees and covenants that should Executive or any other person, organization, or other entity file, charge, claim, sue or cause or permit to be filed any charge or claim with the EEOC, or any civil action, suit or legal proceeding against the Company involving any matter occurring at any time in the past, Executive will not seek or accept any personal relief (including, a judgment, relief or settlement) in such charge, civil action, suit or proceeding, unless permitted under law or regulation. This Agreement does not limit Executive’s right to receive an award for information provided to the SEC. Executive further affirms that Executive has reported all hours worked as of the date of this Agreement and has been paid and/or has received all leave (paid or unpaid), compensation, wages, bonuses, commissions, and/or benefits to which Executive may be entitled and that no other leave (paid or unpaid), compensation, wages, bonuses. commissions and/or benefits are due to Executive, except as provided in this Agreement. Executive furthermore affirms that Executive has no known workplace injuries or occupational diseases. 

7.Confidentiality. Executive and the Company agree not to disclose any information regarding the existence or substance of this Agreement, except to Executive’s spouse, tax advisor, and an attorney with whom Executive chooses to consult regarding Executive’s consideration of this Agreement or as permitted by applicable law. Executive agrees and recognizes that any knowledge or information of any type whatsoever of a confidential nature relating to the business of the Company or any of its subsidiaries, divisions or affiliates, including, without limitation, all types of trade secrets, client lists or information, employee lists or information, information regarding product development, marketing plans, management organization, operating policies or manuals, performance results, business plans, financial records, or other financial commercial business or technical information (collectively “Confidential Information”), must be protected as confidential, not copied, disclosed or used other than for the benefit of the Company at any time unless and until such knowledge or information is in the public domain through no wrongful act by Executive. Executive further agrees not to divulge to anyone (other than the Company or any persons employed or designated by the Company), publish or make use of any such Confidential Information without the prior written consent of the Company, except by an order of a court having competent jurisdiction or if in connection with confidential communications with a Government Agency or an investigation conducted by a Government Agency with appropriate jurisdiction.

8.Notification of Allowable Disclosure of Trade Secret Information in the United States. Executive may not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. Further, if Executive files a lawsuit 

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against the Company alleging retaliation for reporting a suspected violation of law, the Executive may disclose the trade secret to Executive’s attorney. Executive may also use the trade secret information in a court proceeding, provided that Executive files any document containing the trade secret under seal and does not disclose the trade secret except pursuant to a court order.

9.Non-competition/Non-solicitation/Non-hire. Executive acknowledges and recognizes the highly competitive and confidential nature of the business of the Company. The Long-Term Incentive Award Claw-Back Agreement (“Claw-Back Agreement”) and the New Employee Restrictive Covenant Agreement (“RCA”), executed by Executive (collectively, the “Claw-Back/RCA Agreements”), include, among other obligations, promises made by Executive regarding safeguarding confidential Company information, non-competition with the Company and the non-solicitation/no hire of current employees and contractors. Both the Claw-Back Agreement and the RCA remain in full force and effect and are part of this Agreement, except to the extent they are modified below.

The Clawback/RCA Agreements and all other agreements executed by Executive which contain non-compete provisions are modified as follows: The Restricted Period is two years from the Separation Date.

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

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

12.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, 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.

13.Future Cooperation after Separation Date.  After the Separation Date, Executive agrees to make reasonable efforts to assist the Company including but not limited to: responding to telephone calls, assisting with transition duties, assisting with issues that arise after the Separation Date and assisting with the defense or prosecution of any lawsuit or claim.  This includes but is not limited to providing deposition testimony, attending hearings and testifying on behalf of the Company.  The Company will reimburse Executive for reasonable time and expenses in connection with any future cooperation after the Separation Date, at his current annual base pay, converted to 

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an hourly rate. Time and expenses can include loss of pay or using vacation time at a future employer.  The Company shall reimburse the Executive within 30 days of remittance by Executive to the Company of such time and expenses incurred.

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

15.Review Period. Executive is hereby advised Executive has up to twenty-one (21) calendar days, from the date Executive receives it, to review this Agreement and to consult with an attorney prior to execution of this Agreement. Executive agrees that any modifications, material or otherwise, made to this Agreement do not restart or affect in any manner the original twenty-one (21) calendar day consideration period.

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

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

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

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

[signatures on following page]

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IN WITNESS WHEREOF, the parties hereto knowingly and voluntarily executed this Agreement as of the following date:  Nov. 05, 2018.

	
				
	 
	 
	 
	 

	Executive
	Celanese Corporation:

	 

	By:  /s/ Peter G. Edwards
	By:
	/s/ Shannon L. Jurecka
	 

	       Peter G. Edwards
	 
	Shannon L. Jurecka
	 

-7-

To: Peter G. Edwards
From: Shannon L. Jurecka
 
 
Re: Agreement and General Release
 
Dear Peter,
 
This letter confirms that on October 19, 2018, I personally delivered to you the enclosed Agreement and General Release. You have until November 9, 2018, which is at least 21 days after receipt, to consider this Agreement and General Release, in which you waive important rights, including those under the Age Discrimination in Employment Act. To this end, we advise you to consult with an attorney of your choosing prior to executing this Agreement and General Release. 
 

Very truly yours

Shannon Jurecka

Exhibit A
 
 
 
To: Chairman and Chief Executive Officer, Celanese Corporation
From: Peter G. Edwards
Date: November 5, 2018
 
Subject: Letter of Voluntary Resignation
 
The purpose of this letter is to inform you that I have decided to retire from Celanese. The effective date of my departure and my resignation as an employee will be January 31, 2019 (Separation Date). As of December 31, 2018, I hereby resign from any and all positions I may hold as a corporate officer, director, committee member or manager of the Company and its subsidiaries and affiliates (including without limitation any positions as an officer, committee member, employee, manager and/or director), and from all positions held on behalf of the Company (e.g., external and joint venture board memberships, internal committee positions, etc.).

Sincerely,
 
/s/ Peter G. Edwards        
Peter G. Edwards

Exhibit B

Summary of LTI Awards

	
						
	Award
	Grant
Date
	Vest
Date
	Target
Award # Units
	Pro-ration
	Prorated
Amount #
Units

	2017 New Hire RSU Award
	1/27/2017
	1/27/2020
	6,187 1
	24/36
	4,125

	 
	 
	 
	 
	 
	 

Notes:
1 The January 27, 2019 vesting tranche of this award will vest during Executive’s service as an employee. 

Exhibit C
 
November 12, 2018
 
Shannon L. Jurecka
Celanese Corporation
222 W. Las Colinas Blvd.
Suite 900 N.
Irving, TX 75039
 
Re: Agreement and General Release
 
Dear Shannon:
 
On November 5, 2018, I executed an Agreement and General Release between Celanese and me. I was advised by Celanese, in writing, to consult with an attorney of my choosing, prior to executing the Agreement and General Release.
 
I have at no time revoked my acceptance or execution of that Agreement and General Release and hereby reaffirm my acceptance of that Agreement and General Release.
 
Very truly yours,
 
 
/s/ Peter G. Edwards        
Peter G. Edwards

Exhibit D
 
Supplemental Agreement and General Release
 
 
January 31, 2019
 
 
Shannon L. Jurecka
Celanese Corporation
222 W. Las Colinas Blvd.
Suite 900 N.
Irving, TX 75039
 
Re: Supplemental Agreement and General Release
 
Dear Shannon:
 
I hereby reaffirm and acknowledge that the Agreement and General Release executed on November 5, 2018, also applies from the date it was executed until my last day of employment today, January 31, 2019.
 
Sincerely,
 
/s/ Peter G. Edwards        
Peter G. Edwards

Exhibit E

Supplemental Non-Revocation Agreement
   
February 7, 2019
 
Shannon L. Jurecka
Celanese Corporation
222 W. Las Colinas Blvd.
Suite 900 N.
Irving, TX 75039

Re: Agreement and General Release & Supplemental Agreement and General Release

Dear Shannon:

On November 5, 2018, I executed an Agreement and General Release between Celanese and me, and on January 31, 2019 I executed a Supplemental Agreement and General Release (Exhibit D). I was advised by Celanese, in writing, to consult with an attorney of my choosing, prior to executing this Agreement and General Release.
 
I have at no time revoked my acceptance or execution of the Agreement and General Release or the Supplemental Agreement and General Release and hereby reaffirm my acceptance of both agreements. Therefore, in accordance with the terms of our Agreement and General Release, I hereby request payment of the Consideration described in Paragraph 3 pursuant to the terms of that Agreement.
  
Very truly yours,
  
/s/ Peter G. Edwards        
Peter G. Edwards

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