Document:

EX-4.1

 

Exhibit 4.1

TENDER AND STOCKHOLDER SUPPORT AGREEMENT

          This TENDER AND STOCKHOLDER SUPPORT AGREEMENT (this “Agreement”), dated                     , is
by and among SmithKline Beecham Corporation, a Pennsylvania corporation (“Parent”),
Fountain Acquisition Corporation, a Delaware corporation and wholly-owned Subsidiary of Parent
(“Purchaser”), and certain stockholders of Sirtris Pharmaceuticals, Inc., a Delaware
corporation (the “Company”), set forth on Schedule A hereto (each a “Stockholder”
and, collectively the “Stockholders”).

          WHEREAS, Parent, Purchaser and the Company propose to enter into an Agreement and Plan of
Merger, dated as of the date hereof (the “Merger Agreement”), which provides, among other
things, for Purchaser to commence a tender offer for all of the issued and outstanding Common Stock
(as defined below) of the Company (the “Offer”) and the merger of Purchaser with and into
the Company, with the Company continuing as the surviving corporation (the “Merger”), upon
the terms and subject to the conditions set forth in the Merger Agreement (capitalized terms used
herein without definition shall have the respective meanings specified in the Merger Agreement);

          WHEREAS, each Stockholder beneficially owns the number of shares of common stock, par value
$0.001 per share, of the Company (the “Common Stock”) set forth opposite the name of such
Stockholder on Schedule A hereto (such shares of Common Stock, together with any other shares of
Common Stock as to which such Stockholder acquires beneficial ownership after the date hereof and
prior to the earlier of the Effective Time and the termination of all of the Stockholder’s
obligations under this Agreement, including any shares of Common Stock acquired by means of
purchase, dividend or distribution, or issued upon the exercise of any warrants or options, or the
conversion of any convertible securities or otherwise, being collectively referred to herein as the
“Covered Shares”); and

          WHEREAS, as a condition to the willingness of Parent and Purchaser to enter into the Merger
Agreement and as an inducement and in consideration therefor, the Stockholders have agreed to enter
into this Agreement;

          NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements set
forth herein and in the Merger Agreement, and intending to be legally bound hereby, the parties
hereto agree as follows:

          SECTION 1. Representations and Warranties of the Stockholders. Each Stockholder
hereby represents and warrants to Parent and Purchaser, severally and not jointly, and solely as to
itself and its Covered Shares, as follows:

               (a) The Stockholder (i) is the beneficial owner of, and has good and marketable title to, the
Covered Shares set forth opposite such Stockholder’s name on Schedule A hereto, free and clear of
any and all liens, claims, security interests, proxies, voting trusts or agreements, options,
rights, understandings or arrangements or any other encumbrances whatsoever on title, transfer, or
exercise of any rights of a stockholder in respect of such Covered Shares (collectively,
“Encumbrances”) except for restrictions on transfer under the Securities Act of 1933, as
amended, or Encumbrances arising hereunder; (ii) does not own, of record or

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beneficially, any shares of capital stock of the Company (or rights to acquire any such shares)
other than the Covered Shares set forth on Schedule A hereto; and (iii) has the right to vote and
dispose of and holds power to issue instructions with respect to the matters set forth in Sections
3, 4, 5 and 6 hereof, power to demand appraisal rights and power to agree to all of the matters
set forth in this Agreement with respect to all of such Stockholder’s Covered Shares, with no
material limitations, qualifications or restrictions on such rights, subject to applicable federal
securities law and the terms of this Agreement.

               (b) In the case of any Stockholder that is a corporation, limited partnership or limited
liability company, such Stockholder is an entity duly organized, validly existing and in good
standing under the laws of the jurisdiction in which it is incorporated or constituted.

               (c) The Stockholder has the legal capacity and all requisite power and authority to execute
and deliver this Agreement and to perform the Stockholder’s obligations hereunder and consummate
the transactions contemplated hereby. To the extent applicable, the execution, delivery and
performance by the Stockholder of this Agreement and the consummation by the Stockholder of the
transactions contemplated hereby have been duly and validly authorized by the Stockholder (or its
board of directors or similar governing body, as applicable), and no other actions or proceedings
on the part of the Stockholder are necessary to authorize the execution and delivery by the
Stockholder of this Agreement and the consummation by the Stockholder of the transactions
contemplated hereby. This Agreement has been duly and validly executed and delivered by the
Stockholder and constitutes a valid and binding obligation of the Stockholder enforceable in
accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or affecting creditors’ rights
generally and general equitable principles (whether considered in a proceeding in equity or at
law).

               (d) Neither the execution and delivery of this Agreement by the Stockholder, the performance
by the Stockholder of such Stockholder’s obligations hereunder nor the consummation by the
Stockholder of the transactions contemplated hereby will (i) result in a material violation or
breach of, or constitute (with or without notice or lapse of time or both) a default under, or
conflict with (A) to the extent applicable, any provisions of the organizational documents of the
Stockholder or (B) any note, bond, mortgage, indenture, contract, agreement, lease, license, permit
or other instrument or obligation of any kind to which such Stockholder is a party or by which such
Stockholder’s Covered Shares are bound, or (ii) violate, or require any consent, approval, or
notice under, any provision of any judgment, order or decree or any federal, state, local or
foreign statute, law, ordinance, rule, regulation, order, judgment, decree or legal requirement
applicable to such Stockholder or any of such Stockholder’s Covered Shares (other than filings
required pursuant to Securities Exchange Act of 1934, as amended, and the rules promulgated
thereunder).

          SECTION 2. Representations and Warranties of Parent and Purchaser. Each of Parent and
Purchaser hereby, jointly and severally, represents and warrants to the Stockholders as follows:

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               (a) Each of Parent and Purchaser is a corporation duly organized, validly existing and in good
standing under the laws of the jurisdiction in which it is incorporated, and each of Parent and
Purchaser has all requisite corporate power and corporate authority to execute and deliver this
Agreement and to perform its obligations hereunder and consummate the transactions contemplated
hereby, and has taken all necessary corporate action to authorize the execution, delivery and
performance of this Agreement.

               (b) This Agreement has been duly authorized, executed and delivered by each of Parent and
Purchaser and constitutes a valid and binding obligation of Parent and Purchaser enforceable in
accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or affecting creditors’ rights
generally and general equitable principles (whether considered in a proceeding in equity or at
law).

               (c) Neither the execution and delivery of this Agreement by Parent and Purchaser, the
performance by Parent and Purchaser of their obligations hereunder nor the consummation by Parent
and Purchaser of the transactions contemplated hereby will (i) result in a material violation or
breach of, or constitute (with or without notice or lapse of time or both) a default under, or
conflict with (A) any provisions of the organizational documents of Parent or Purchaser or (B) any
note, bond, mortgage, indenture, contract, agreement, lease, license, permit or other instrument or
obligation of any kind to which such Parent or Purchaser is a party or by which Parent or Purchaser
or their assets are bound, or (ii) violate, or require any consent, approval, or notice under, any
provision of any judgment, order or decree or any federal, state, local or foreign statute, law,
ordinance, rule, regulation, order, judgment, decree or legal requirement applicable to Parent or
Purchaser or their assets (other than filings required pursuant to Securities Exchange Act of 1934,
as amended, and the rules promulgated thereunder).

          SECTION 3. Tender of the Covered Shares. Unless this Agreement shall have been
terminated in accordance with its terms, and subject to Section 5, each Stockholder hereby agrees
that it shall (i) tender its Covered Shares or cause to be tendered (and deliver any certificates
evidencing such Covered Shares or an appropriate affidavit of lost certificate with respect thereto
to the extent any of such certificates have been lost, misplaced or destroyed), into the Offer
promptly following the date the Offer is commenced, and in any event no later than five (5)
Business Days prior to the Expiration Date of the Offer, free and clear of all Encumbrances and
(ii) not withdraw or cause to be withdrawn, its Covered Shares from the Offer at any time. If a
Stockholder acquires Covered Shares after the date hereof, such Stockholder shall (A) tender, or
cause to be tendered, such Covered Shares into the Offer on or before the fifth (5th)
Business Day prior to the Expiration Date or, if later, on or before the second (2nd)
Business Day after such acquisition but in any event prior to the Expiration Date, and (B) not
withdraw, or cause to be withdrawn, such Covered Shares from the Offer at any time.

          SECTION 4. Option.

               (a) On the terms and subject to the conditions set forth herein, each Stockholder hereby
grants to Parent an irrevocable option (the “Option”) to purchase all of the right, title
and interest of such Stockholder in and to such Stockholder’s Covered Shares at a price equal to
the Offer Price. Parent may exercise an Option in whole, but not in part, if, but

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only if, (i) Purchaser has acquired shares of Common Stock pursuant to the Offer and (ii) such
Stockholder shall have failed to tender into the Offer any Covered Shares or shall have withdrawn
the tender of any Covered Shares into the Offer. Parent may exercise an Option at any time within
the sixty (60) days following the date when such Option first becomes exercisable.

               (b) In the event that Parent is entitled to and wishes to exercise an Option, Parent shall
send a written notice to the relevant Stockholder(s) specifying the place and the date for the
closing of such purchase, which date shall be not more than sixty (60) days after the date of such
notice; provided that in the event that prior notification to, or approval of, any
Governmental Entity is required in connection with the exercise of an Option or there shall be in
effect any preliminary or final injunction or other order issued by any Governmental Entity
prohibiting the exercise of an Option, the period of time during which the date of the closing may
be fixed shall be extended until the tenth (10th) day following the last date on which
all required approvals shall have been obtained, all required waiting periods shall have expired or
been terminated and any such prohibition shall have been vacated, terminated or waived.

               (c) At the closing of the purchase of a Stockholder’s Covered Shares pursuant to exercise of
an Option, simultaneously with the payment by the Parent of the purchase price for a Stockholder’s
Covered Shares, such Stockholder shall deliver, or cause to be delivered, to the Purchaser
certificates representing such Covered Shares duly endorsed to the Parent or accompanied by stock
powers or other transfer documents duly executed by the Company in blank, together with any
necessary stock transfer stamps properly affixed, free and clear of all Encumbrances.

               (d) Parent, Purchaser or the Company, as applicable, shall be entitled to deduct and withhold
from the consideration otherwise payable pursuant to this Section 4 to a holder of Covered Shares
such amounts as are required to be withheld under the Code, or any applicable provision of state,
local or foreign tax law. To the extent that amounts are so withheld, such withheld amounts shall
be treated for all purposes of this Agreement as having been paid to the holder of the Covered
Shares in respect of which such deduction and withholding was made.

          SECTION 5. Transfer of the Covered Shares; Other Actions.

               (a) Prior to the termination of this Agreement, except as otherwise provided herein (including
pursuant to Sections 3, 4 or 7 hereof), each Stockholder shall not: (i) transfer, assign, sell,
gift-over, pledge or otherwise dispose (whether by sale, merger, consolidation, liquidation,
dissolution, dividend, distribution or otherwise) of, or consent to any of the foregoing
(“Transfer”), any Covered Shares or any right or interest therein; (ii) enter into any
contract, option or other agreement, arrangement or understanding with respect to any Transfer of
Covered Shares; (iii) grant any proxy or power-of-attorney with respect to any of the Covered
Shares; (iv) deposit any of the Covered Shares into a voting trust, or enter into a voting
agreement or arrangement with respect to any of the Covered Shares; or (v) take any other action
that would restrict, limit or interfere in any material respect with the performance of such
Stockholder’s obligations hereunder or the transactions contemplated hereby. Notwithstanding the
foregoing, the preceding sentence shall not prohibit a Transfer of Covered Shares by Stockholder:
(A) if Stockholder is an individual, to any member of Stockholder’s immediate

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family, or to a trust established for the benefit of Stockholder and/or for the benefit of one or
more members of Stockholder’s immediate family or established for charitable purposes, or upon the
death of Stockholder, or (B) if Stockholder is a partnership, limited liability company or trust,
to one or more partners or members of Stockholder or to an affiliated corporation under common
control with Stockholder or to any trustee or beneficiary of the trust, provided that any
Transfer permitted pursuant to (A) or (B) above shall be permitted only if, as a precondition to
such transfer, the transferee of such Covered Shares agrees in writing with Parent and Purchaser to
be bound by the terms and conditions of this Agreement.

          SECTION 6. Covenant to Vote; Irrevocable Proxy.

               (a) Prior to termination of this Agreement in accordance with its terms, each Stockholder
hereby agrees to vote all Covered Shares as to which the Stockholder has sole or share voting power
(the “Vote Shares”), or to provide a written consent in respect of the Vote Shares, in
connection with any meeting of the stockholders of the Company or any action by written consent in
lieu of a meeting of stockholders of the Company (i) in favor of the Merger (including adoption of
the Merger Agreement) and/or (ii) against any action or agreement which would impede, delay or
interfere with, or prevent, the Merger, including, but not limited to, any other extraordinary
corporate transaction, including, a merger, acquisition, sale, consolidation, reorganization or
liquidation involving the Company and a third party, or any other Acquisition Proposal proposed by
a third party.

               (b) In furtherance of the agreements herein and until the termination of this Agreement in
accordance with its terms, each Stockholder hereby irrevocably grants to, and appoints, Parent and
any person or persons designated in writing by Parent, and each of them individually, such
Stockholder’s proxy and attorney-in-fact (with full power of substitution), for and in the name,
place and stead of such Stockholder, to vote all Vote Shares, or grant a consent or approval in
respect of such Vote Shares, or execute and deliver a proxy to vote such Vote Shares, (i) in favor
of adopting the Merger Agreement and approving the transactions contemplated thereby, including the
Merger and (ii) against any Acquisition Proposal proposed by a third party or any other matter
referred to in clause (a) of Section 6 hereof.

               (c) Each Stockholder represents and warrants to Parent that any proxies heretofore given by it
in respect of Covered Shares are not irrevocable, and that any such proxies are hereby revoked, and
agrees to communicate in writing notice of revocation of such proxies to the relevant proxy
holders.

               (d) Each Stockholder hereby affirms that the irrevocable proxy set forth in Section 6(b) is
given in connection with, and in consideration of, the execution of the Merger Agreement by Parent,
and that such irrevocable proxy is given to secure the performance of the duties of such
Stockholder under this Agreement. Each Stockholder hereby further affirms that the irrevocable
proxy is coupled with an interest and may under no circumstances be revoked. Such Stockholder
hereby ratifies and confirms all that such irrevocable proxy may lawfully do or cause to be done by
virtue hereof. Such irrevocable proxy is executed and intended to be irrevocable in accordance
with the provisions of Section 212 of the DGCL until the termination of this Agreement in
accordance with its terms.

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          SECTION 7. Non-Solicitation. Each Stockholder shall not and shall not authorize or
permit its representatives to directly or indirectly (i) initiate, solicit or knowingly encourage
(including by way of providing non-public information) the submission of any Acquisition Proposal
or engage in any discussions or negotiations with respect thereto or otherwise cooperate with or
assist or participate in, or knowingly facilitate any such Acquisition Proposal, or (ii) approve or
recommend, or publicly propose to approve or recommend, an Acquisition Proposal or enter into any
merger agreement, letter of intent, agreement in principle, share purchase agreement, asset
purchase agreement or share exchange agreement, option agreement or other similar agreement
relating to an Acquisition Proposal or enter into any letter of intent, agreement or agreement in
principle requiring the Stockholder (whether or not subject to conditions) to abandon, terminate or
fail to consummate the transactions contemplated hereby or breach its obligations hereunder.

          SECTION 8. Further Assurances. Each Stockholder shall, upon request of Parent or
Purchaser, execute and deliver any additional documents and take such further actions as may
reasonably be deemed by Parent or Purchaser to be necessary or desirable to carry out the
provisions of this Agreement.

          SECTION 9. Termination. This Agreement, and all rights and obligations of the parties
hereunder shall terminate on the earlier of: (a) the date and time the Merger Agreement is validly
terminated in accordance with its terms, (b) the Effective Time and (c) with respect to any
Stockholder, such date and time as any amendment or change to the Merger Agreement or the Offer
that decreases the Offer Price below $22.50 is effected without the consent of such Stockholder.
Termination of this Agreement shall not relieve any party from liability for any breach hereof
prior to such termination. Section 11 and Section 13 shall survive any termination of this
Agreement.

          SECTION 10. Waiver of Appraisal and Dissenter’s Rights. Each Stockholder waives and
agrees not to exercise any rights of appraisal, rights to dissent or similar rights with respect to
the Merger or other transactions contemplated by the Merger Agreement that the Stockholder may have
with respect to the Stockholder’s Covered Shares pursuant to applicable law.

          SECTION 11. Expenses. All fees, costs and expenses incurred in connection with this
Agreement and the transactions contemplated hereby shall be paid by the party incurring such fees,
costs and expenses.

          SECTION 12. Stop Transfer Order; Legend. In furtherance of this Agreement,
concurrently herewith, each Stockholder shall, and hereby does authorize the Company or its counsel
to, notify the Company’s transfer agent that there is a stop transfer order with respect to all of
the Covered Shares of such Stockholder (and that this Agreement places limits on the voting and
transfer of such Covered Shares).

          SECTION 13. Stockholder Capacity. It is understood that the Stockholder enters into
this Agreement solely in such Stockholder’s capacity as a stockholder of the Company. Nothing
herein shall be construed as preventing a Stockholder, or a director, officer or employee of a
Stockholder or Affiliate of a Stockholder, who is an officer or director of the Company from

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fulfilling the obligations of such office (including the performance of obligations required by the
fiduciary obligations of such Stockholder, or director, officer or employee of a Stockholder or
Affiliate of a Stockholder, acting solely in his or her capacity as an officer or director of the
Company), but nothing in this Section 13 is intended to modify any of the rights or obligations
under the Merger Agreement.

          SECTION 14. Miscellaneous.

               (a) Notices. All notices and other communications hereunder shall be in writing and
shall be deemed given if delivered personally, telecopied (which is confirmed) or sent by a
nationally recognized overnight courier service, such as FedEx (providing proof of delivery), to
the parties at the following addresses (or at such other address for a party as shall be specified
by like notice):

If to any of the Stockholders, at the address set forth opposite the name of
such Stockholder on the signature page hereto:

with a copy to:

Sirtris Pharmaceuticals, Inc.

200 Technology Square

Cambridge, MA 02139

Attention: Garen Bohlin, Chief Operating Officer

Facsimile: 617-252-6924

and a copy to:

Ropes & Gray LLP

One International Place

Boston, MA 02110

Attention: Marc A. Rubenstein, Esq.

Facsimile: 617-951-7050

and

If to Parent or Purchaser, to:

SmithKline Beecham Corporation

200 N. 16th Street (FP2355)

Philadelphia, PA 19102

Attention: Carol G. Ashe

Facsimile: 215-751-5349

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with a copy to:

Cleary Gottlieb Steen & Hamilton LLP

One Liberty Plaza

New York, NY 10006

Attention: Victor I. Lewkow, Esq.

Facsimile: 212-225-3999

               (b) Headings. The headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement.

               (c) Counterparts. This Agreement may be executed and delivered (including by
facsimile transmission) in two or more counterparts, and by the different parties hereto in
separate counterparts, each of which when executed shall be deemed to be an original but all of
which taken together shall constitute one and the same agreement. This Agreement shall become
effective with respect to a Stockholder when a counterpart hereof shall have been signed by each of
Parent, Purchaser and such Stockholder and delivered to the other such parties.

               (d) Entire Agreement. This Agreement (together with the Merger Agreement and any
other documents and instruments referred to herein and therein) constitutes the entire agreement
among the parties with respect to the subject matter hereof and thereof and supersedes all other
prior agreements and understandings, both written and oral, among the parties, or any of them, with
respect to the subject matter hereof and thereof.. This Agreement is not intended and does not
confer upon any Person other than the parties hereto any rights hereunder.

               (e) Governing Law.

               (i) This Agreement shall be governed by and construed in accordance with the laws
of the State of Delaware, without giving effect to the principles of conflicts of law
thereof that would result in the application of law of any other state.

               (ii) The parties agree that irreparable damage would occur in the event that any
of the provisions of this Agreement were not performed in accordance with their
specific terms or were otherwise breached. It is accordingly agreed that the parties
shall be entitled to an injunction or injunctions to prevent breaches of this
Agreement and to enforce specifically the terms and provisions of this Agreement in
the Court of Chancery of the State of Delaware or, if under applicable Law exclusive
jurisdiction over such matter is vested in the federal courts, any court of the United
States located in the State of Delaware, this being in addition to any other remedy to
which such party is entitled at law or in equity. In addition, each of the parties
hereto (i) consents to submit itself to the personal jurisdiction of the Court of
Chancery of the State of Delaware or any court of the United States located in the
State of Delaware in the event any dispute arises out of this Agreement or any of the
transactions

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contemplated by this Agreement, (ii) agrees that it will not attempt to deny or
defeat such personal jurisdiction by motion or other request for leave from any such
court, and (iii) agrees that it will not bring any action or proceeding relating to
this Agreement or any of the transactions contemplated by this Agreement in any court
other than the Court of Chancery of the State of Delaware or, if under applicable law
exclusive jurisdiction over such matter is vested in the federal courts, any court of
the United States located in the State of Delaware.

               (iii) EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING
OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION
HEREWITH OR THE TRANSACTIONS, INCLUDING THE OFFER AND MERGER, CONTEMPLATED HEREBY OR
THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR
ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE EITHER OF SUCH WAIVERS,
(B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVERS, (C) IT MAKES
SUCH WAIVERS VOLUNTARILY, AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 13(e)(iii).

               (f) Assignment. Neither this Agreement nor any of the rights, interests or
obligations hereunder shall be assigned by any of the parties hereto (whether by operation of law
or otherwise) without the prior written consent of the other parties except that Parent and
Purchaser may assign, in their sole discretion and without the consent of any other party, any or
all of their rights, interests and obligations hereunder to each other or to one or more direct or
indirect wholly-owned subsidiaries of Parent (each, an “Assignee”). Subject to the
preceding sentence, this Agreement will be binding upon, inure to the benefit of and be enforceable
by, the parties and their respective successors and assigns, and the provisions of this Agreement
are not intended to confer upon any person other than the parties hereto any rights or remedies
hereunder.

               (g) Severability of Provisions. If any term or provision of this Agreement is
invalid, illegal or incapable of being enforced by any rule of law or public policy, the remaining
provisions of this Agreement shall be enforced so as to effect the original intent of the parties
as closely as possible in an acceptable manner to the end that the transactions contemplated hereby
are fulfilled to the fullest extent possible.

               (h) Amendment. No amendment, modification or waiver in respect of this Agreement
shall be effective against any party unless it shall be in writing and signed by such party.

               (i) Binding Nature. This Agreement is binding upon and is solely for the benefit of
the parties hereto and their respective successors, legal representatives and assigns.

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               (j) Option Exercises. Nothing in this Agreement shall require a Stockholder to
exercise any option or warrant to purchase shares of Common Stock of the Company.

[Signature page follows]

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          IN WITNESS WHEREOF, Parent, Purchaser and the Stockholders have caused this Agreement to be
duly executed and delivered as of the date first written above.

	 	 	 	 	 
	 	SMITHKLINE BEECHAM CORPORATION

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	FOUNTAIN ACQUISITION CORPORATION

 	 
	 	By  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

A-1

 

	 	 	 	 	 

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	Stockholder 	 
	 	 	 	 

 

 

	 	 	 	 	 

SCHEDULE A

	 	 	 	 	 
	Name and Address	 	Covered Shares	 
	 
	 	 	 	 
	TOTALEX-10.2

 

Exhibit 10.2

CHANGE IN CONTROL AGREEMENT

     This CHANGE IN CONTROL AGREEMENT (the “Agreement”) is entered into on April 1, 2008 (the
“Effective Date”) by and between Celanese Corporation (the “Company”) and Sandra Beach Lin (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 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.

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          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 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

2

 

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, 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

3

 

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 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 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

4

 

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 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 Executive Vice President & President Ticona (“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.”

5

 

          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 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;

6

 

                    (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 (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 days following his or her execution
of the release; and

                    (v) Within fifty (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.

          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

7

 

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.

                    (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

8

 

(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 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 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 imposed as a result of the reimbursement of any such interest, penalties or surcharge) within
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

9

 

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.

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     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 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

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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.

                    (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.

12

 

     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:

13

 

                              (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

                              (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.

14

 

     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.

          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

15

 

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 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.

16

 

     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/ Sandra Beach Lin
	 	 	 	By:
	 	/s/ Kevin J. Rogan
	 

	 	 
	 	 	 	 	 	 
	 

	 	Sandra Beach Lin	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date:

	 	April 1, 2008
	 	 	 	Date:
	 	April 1, 2008

17

 

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 Sandra Beach Lin, 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
April 1, 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.
	 
	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:

 

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

18

 

(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;
	 
	 	•	 	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

19

 

	 	 	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.
	 
	 	 	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 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.

20

 

	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.
	 
	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.

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

	 	 	 	 	 	 	 	 	 
	EXECUTIVE:	 	 	 	Celanese Corporation:
	 
	 	 	 	 	 	 	 	 
	By:

	 	 	 	 	 	By:	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Sandra Beach Lin	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Date:

	 	 	 	 	 	Date:	 	 
	 

	 	 
	 	 	 	 	 	 

21

 

EXHIBIT B

[List of Works]

22

 

Schedule I

1. The Company entered into a Change of Control Agreement with each of Kevin J. Rogan and Miguel A.
Desdin that varied from the one entered into with Sandra Beach Lin by:

     (a) modifying Section 1(o) to provide, in its entirety, as follows:

     “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) eighteen months 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).

     (b) modifying Section 5(b) to provide, in its entirety, as follows:

     The “Change In Control Payment” shall be equal to one and one half (1.5) 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.

23

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