Document:

EX-10.2

    Exhibit 10.2

 

    
    

 

    AGREEMENT
    AND GENERAL RELEASE

 

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

 

    1. Last Day of Employment (Separation
    Date).  The last day of employment with
    Celanese will be March 31, 2009, or such earlier date
    mutually agreeable to both the Employer and Employee (the
    “Separation Date”).

 

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

 

    a. Voluntary Resignation.  Employee
    agrees to voluntarily resign from the Employer effective on the
    Separation Date. Effective as of the close of business on such
    Separation Date, Executive will resign from all positions he
    holds as a corporate officer of the Company (including without
    limitation any positions as an officer, employee
    and/or
    director), and from all positions held on behalf of the Company
    (e.g., external board memberships, internal committee positions).

 

    b. Separation Pay.  Pursuant to the
    terms of your offer letter dated March 18, 2005, the
    Company will pay an amount equal to your current annual base
    salary plus target bonus, for a total payment of $1,035,000,
    less any lawful deductions. Such amount shall be paid in
    installments as follows; (i) the first installment in the
    amount of $517,500 (representing 50% of the total payment) will
    be paid immediately upon the commencement of the “payment
    period”, and (ii) the remaining $517,500 will be paid
    in thirteen (13) substantially equal (bi-weekly)
    installments that begin upon the commencement of the
    “payment period”. For purposes of this
    Section 2(b), the “payment period” shall mean the
    period beginning on the earlier of (i) October 1,
    2009, or (ii) the date which is six (6) months and one
    day following the Separation Date, whichever is applicable,
    subject to execution of this Agreement.

 

    c. Bonus.  Employee will be
    eligible to receive a bonus payout for 2008, and a prorated
    bonus payout for 2009 (based on the full months of service
    completed during 2009), under the same terms and conditions, and
    will be paid at the same time as other similarly situated
    executives who receive a bonus payout for these performance
    years. The 2008 bonus payout will be paid to the Employee during
    the 2009 calendar year but in no event later than March 15,
    2009, and the 2009 bonus payout will be paid to the Employee
    during the 2010 calendar year but in no event later than
    March 15, 2010. The 2008 and prorated 2009 bonus payouts
    will be based on Company performance without modification for
    Employee’s individual performance.

 

    d. Deferred
    Compensation.  Notwithstanding anything to the
    contrary in the Employee’s 2007 Deferral Agreement dated
    April 2, 2007, the Employee shall be 100% vested in his
    Restructured Account under the Celanese Corporation Deferred
    Compensation Plan and the balance of such account (as adjusted
    for notional investment earnings in accordance with
    Section 2(b) of the Deferral Agreement), and the amount of
    any Top-Up
    Payment under Section 3(b) of such agreement, shall be paid
    to the Employee in a single cash payment on the earlier of
    (i) October 1, 2009 or (ii) the date which is six
    (6) months and one day following the Separation Date,
    whichever is applicable.

 

    e. Equity Awards.   In addition to
    the Time Options and Performance Options that have previously
    vested under the Employee’s respective Nonqualified Stock
    Option Agreements dated April 18, 2005 and October 10,
    2005, and as each agreement was amended effective April 2,
    2007 under the terms of such agreements, the Employee will
    (i) vest in 40,000 unvested Time Options on
    December 31, 2008, (ii) vest in the remaining 40,000
    unvested Time Options on March 31, 2009, under the terms of
    such agreements,

    

    1

 

    and (iii) vest in the remaining 75,000 unvested Performance
    Options on December 31, 2008 under the terms of such
    agreements. Once vested, all Time Options and Performance
    Options shall be exercisable by the Employee through
    December 31, 2010. Meanwhile, pursuant to the terms of the
    Employee’s Performance-Based Restricted Stock Unit
    Agreement dated April 2, 2007 (the “RSU
    Agreement”), the Employee will, depending on the
    Employer’s actual financial results for the Performance
    Period that commenced on April 1, 2007 and continues
    through December 31, 2010, vest in the prorated portion of
    the RSUs determined under Section 3(c)(ii)(y) of such
    agreement and all remaining RSUs shall be canceled. Such vested
    RSUs, if any, shall be distributed to Employee no later than
    March 15, 2011, in the manner permitted by Section 4
    of the RSU Agreement.

 

    f. Change in Control Event.  In the
    event that a Change in Control Protection Period (as defined in
    the Employee’s Change in Control Agreement dated
    April 1, 2008) commences prior to the Separation Date,
    the Employee will be entitled to receive any additional
    separation benefits that are triggered thereby in accordance
    with the terms outlined in the Employee’s Change in Control
    Agreement dated April 1, 2008, but only to the extent that
    such additional separation benefits are incremental to the
    separation benefits specified in this Paragraph “2”.

 

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

 

    h. Pension and 401(k) Plan
    Vesting.  Employee is 100% vested in the
    Company cash balance pension and 401(k) plans.

 

    i. Unused Vacation.  Employee will
    be entitled to four (4) weeks vacation for 2009, regardless
    of the actual months of service completed in 2009. The Employer
    will pay to Employee wages for any unused vacation for 2009 and
    any vacation carried over from 2008 under the standard procedure
    for calculating and paying any unused vacation to separated
    employees. The gross amount due to Employee, less any lawful
    deductions, will be payable on the earlier of
    (i) October 1, 2009 or (ii) the date which is six
    (6) months and one day following the Separation Date,
    whichever is applicable, subject to the Employee providing the
    details of any vacation days utilized during 2008 and 2009
    through the exit interview process.

 

    j. Company Benefit
    Plans.  Healthcare & dental coverage
    will continue until the last day of the month in which Employee
    separates, in this case March 31, 2009, according to
    Employee’s current health & dental plan
    elections. All other normal company programs (e.g., life
    insurance, long term disability, 401(k) contributions, etc.)
    will continue through the date of resignation.

 

    k. COBRA Reimbursement and Continued Medical Plan
    Coverage.  If the Employee is not eligible for
    retiree medical coverage under the terms of the Employer’s
    retiree medical plan on the date of his separation and the
    Employee elects to continue his coverage (and the coverage of
    his eligible family members) under the Employer’s medical
    and dental plans for active employees pursuant to the
    requirements of the Consolidated Omnibus Reconciliation Act of
    1985, as amended (“COBRA”), the Employer shall
    reimburse the Employee for each monthly COBRA premium paid by
    the Employee for a period of twelve (12) months following
    the date of Employee’s separation, or through
    March 31, 2010, whichever is later. Following the
    expiration of the Employee’s COBRA coverage, the Employee
    may continue his coverage (and the coverage of those eligible
    family members who have exhausted their COBRA coverage) under
    the Employer’s medical plan for active employees until the
    Employee attains age 65 provided that the Employee pays
    each required monthly premium no later than the thirtieth
    (30) day of the calendar month for which such monthly
    premium is due. The required monthly premium for this continued
    medical plan coverage shall be the greater of (i) the
    monthly COBRA premium under the Employer’s medical plan for
    active employees or (ii) the monthly retiree premium under
    the Employer’s medical plan for retirees, as applicable to
    the type of coverage elected by the Employee for each month of
    the Employee’s continued medical plan coverage. This right
    to continue medical plan coverage beyond the COBRA coverage
    period shall terminate as of the first day of the calendar month
    for which the Employee fails to timely pay the required monthly
    premium in full.

    

    2

 

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

 

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

 

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

 

    3. No Consideration Absent Execution of this
    Agreement.  Employee understands and
    agrees that he would not receive the monies
    and/or
    benefits specified in Paragraph “2” above, unless the
    Employee signs this Agreement and General Release on the
    signature page without having revoked this Agreement and General
    Release pursuant to paragraph 15 below and the fulfillment
    of the promises contained herein.

 

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

 

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

	 
	 	    • 
	
    The Civil Rights Act of 1991;

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

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

	 
	 	    • 
	
    The Immigration Reform and Control Act, as amended;

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

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

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

	 
	 	    • 
	
    The Occupational Safety and Health Act, as amended;

	 
	 	    • 
	
    The Sarbanes-Oxley Act of 2002;

	 
	 	    • 
	
    The Texas Civil Rights Act, as amended;

	 
	 	    • 
	
    The Texas Minimum Wage Law, as amended;

	 
	 	    • 
	
    Equal Pay Law for Texas, as amended;

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

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

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

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

 

    5. Affirmations.  Employee affirms
    that he has not filed, caused to be filed, or presently is a
    party to any claim, complaint, or action against Employer in any
    forum or form. Provided, however, that the foregoing does not
    affect any right to file an administrative charge with the Equal
    Employment Opportunity Commission (“EEOC”), subject to
    the restriction that if any such charge is filed, Employee
    agrees not to violate the

    

    3

 

    confidentiality provisions of this Agreement and Employee
    further agrees and covenants that should he or any other person,
    organization, or other entity file, charge, claim, sue or cause
    or permit to be filed any charge with the EEOC, civil action,
    suit or legal proceeding against the Employer involving any
    matter occurring at any time in the past, Employee will not seek
    or accept any personal relief (including, but not limited to,
    monetary award, recovery, relief or settlement) in such charge,
    civil action, suit or proceeding.

 

    Employee further affirms that he 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 may be entitled and that no other leave
    (paid or unpaid), compensation, wages, bonuses, commissions
    and/or
    benefits are due to him, except as provided in this Agreement
    and General Release. Employee furthermore affirms that he has no
    known workplace injuries or occupational diseases and has been
    provided
    and/or has
    not been denied any leave requested under the Family and Medical
    Leave Act.

 

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

 

    Employee agrees and recognizes that any knowledge or information
    of any type whatsoever of a confidential nature relating to the
    business of the Employer or any of its subsidiaries, divisions
    or affiliates, including, without limitation, all types of trade
    secrets, client lists or information, employee lists or
    information, information regarding product development,
    marketing plans, management organization, operating policies or
    manuals, performance results, business plans, financial records,
    or other financial, commercial, business or technical
    information (collectively “Confidential Information”),
    must be protected as confidential, not copied, disclosed or used
    other than for the benefit of the Employer at any time unless
    and until such knowledge or information is in the public domain
    through no wrongful act by Employee. Employee further agrees not
    to divulge to anyone (other than the Employer or any persons
    employed or designated by the Employer), publish or make use of
    any such Confidential Information without the prior written
    consent of the Employer, except by an order of a court having
    competent jurisdiction or under subpoena from an appropriate
    government agency.

 

    7. Non-competition/Non-solicitation.  Employee
    acknowledges and recognizes the highly competitive nature of the
    business of the Employer. Without the express written permission
    of Celanese, for a period of (52) weeks, following the
    Effective Date (the “Restricted Period”), Employee
    acknowledges and agrees that he will not: (i) directly or
    indirectly solicit sales of like products similar to those
    produced or sold by Employer; or (ii) directly engage or
    become employed with any business that competes with the
    business of Celanese, including but not limited to: direct
    sales, supply chain, marketing, or manufacturing for a producer
    of products similar to those produced or licensed by Celanese.
    In addition, for (2) years, Employee will not directly or
    indirectly solicit employees of Celanese for employment.
    However, nothing in this provision shall restrict Employee from
    owning, solely as an investment, publicly traded securities of
    any company which is engaged in the business of Celanese if
    Employee (i) is not a controlling person of, or a member of
    a group which controls; and (ii) does not, directly or
    indirectly, own 5% or more of any class of securities of any
    such company.

 

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

 

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

    

    4

 

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

 

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

 

    12. Future Cooperation after Separation
    Date.  After separation, Employee agrees to
    make reasonable efforts to assist Company including but not
    limited to: assisting with transition duties, assisting with
    issues that arise after separation of employment and assisting
    with the defense or prosecution of any lawsuit or claim. This
    includes but is not limited to providing deposition testimony,
    attending hearings and testifying on behalf of the Company. The
    Company will reimburse Employee for reasonable time and expenses
    in connection with any future cooperation after the separation
    date. Time and expenses can include loss of pay or using
    vacation time at a future employer. The Company shall reimburse
    the Employee within 30 days of remittance by Employee to
    the Company of such time and expenses incurred, but in no event
    later than the end of the Employee’s tax year following the
    tax year in which the Employee incurs such time and expenses and
    such reimbursement obligation shall remain in effect for five
    years and the amount of expenses eligible for reimbursement
    hereunder during Employee’s tax year will not affect the
    expenses eligible for reimbursement in any other tax year.

 

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

 

    14. Review Period.  Employee is
    hereby advised he has until October 10, 2008, or twenty-one
    (21) calendar days, to review this Agreement and General
    Release and to consult with an attorney prior to execution of
    this Agreement and General Release. Employee agrees that any
    modifications, material or otherwise, made to this Agreement and
    General Release do not restart or affect in any manner the
    original twenty-one (21) calendar day consideration period.

 

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

 

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

 

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

 

    18. HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL
    RELEASE, TO FULFILL THE PROMISES AND TO RECEIVE THE SUMS AND
    BENEFITS IN PARAGRAPH “2” ABOVE, EMPLOYEE FREELY AND
    KNOWINGLY, AND AFTER DUE CONSIDERATION, ENTERS INTO THIS
    AGREEMENT AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND
    RELEASE ALL CLAIMS HE HAS OR MIGHT HAVE AGAINST EMPLOYER.

    

    5

 

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

 

	 	 	 	 	 	 	 
	

    EXECUTIVE:

	
 
	
    Celanese Corporation:

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	

    By:

	
 
	
    /s/  Curtis
    S. Shaw

    
Curtis
    S. Shaw
	
 
	
    By:
	
 
	
    /s/  Michael
    Summers

    

	
 
	
 
	
 

	

    Date: September 25, 2008

	
 
	
    Date: September 25, 2008

    

    

    6EX-10.3

    Exhibit 10.3

 

    CELANESE
    CORPORATION

    2004 STOCK INCENTIVE PLAN

 

    SIGN-ON
    RESTRICTED STOCK UNIT AWARD AGREEMENT

 

    THIS AWARD AGREEMENT is made effective as of July 23, 2008
    (the “Date of Grant”), between Celanese Corporation
    (the “Company”) and Michael L. Summers (the
    “Participant”).

 

    R E C I T A L S:

 

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

 

    WHEREAS, the Compensation Committee (the “Committee”)
    has determined that it would be in the best interests of the
    Company and its stockholders to grant to the Participant a
    Sign-on Restricted Stock Unit Award, subject to the terms set
    forth herein, which award shall constitute an “Other
    Stock-Based Award” pursuant to Section 8 of the Plan;

 

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

 

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

 

    (a) “Cause” shall mean (i) your
    willful failure to perform your duties hereunder (other than as
    a result of total or partial incapacity due to physical or
    mental illness) for a period of thirty (30) days following
    written notice by the Company to you 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) your willful malfeasance or willful
    misconduct which is demonstrably injurious to the Company;
    (iv) any act of fraud by you; (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) your conduct that
    causes material harm to the business reputation of the Company;
    or (viii) your breach of the Confidentiality and
    Non-Compete Covenants.

 

    (b) “Good Reason” shall mean any of the
    following conditions which occurs without your consent:
    (i) a material diminution in your base salary or annual
    bonus opportunity; (ii) a material diminution in your
    authority, duties or responsibilities (including status,
    offices, title and reporting requirements); (iii) a
    material change in the geographic location at which you must
    perform your duties; (iv) the 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 letter agreement. The conditions described above will not
    constitute “Good Reason” unless you provide written
    notice to the Company of the existence of the condition
    described above within ninety (90) days after the initial
    existence of such condition. In addition, the conditions
    described above will not constitute “Good Reason”
    unless the Company fails to remedy the condition within a period
    of thirty (30) days after receipt of the notice described
    in the preceding sentence. If the Company fails to remedy the
    condition within the period referred to in the preceding
    sentence, you may terminate your employment with the Company for
    “Good reason” within the next thirty (30) days
    following the expiration of the cure period.

 

    (c) “Performance Target” shall mean
    progress towards, or achievement of, as determined in the sole
    discretion of the Chief Executive Officer of the Company, the
    following objectives:

 

    (i) The implementation of the new HR global information
    system;

 

    (ii) The establishment of a world class HR team;

 

    (iii) The development and execution of a plan to bring the
    Company’s HR function to world class performance standards.

 

    (d) “Plan” shall mean the Celanese
    Corporation 2004 Stock Incentive Plan, as amended from time to
    time.

 

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

 

    2.  Grant of Restricted Stock
    Units.   The Company hereby grants to the
    Participant, subject to adjustment as set forth in the Plan,
    (i) 21,000 time-vesting Restricted Stock Units (the
    “Time RSUs”) and (ii) 9,000 performance-vesting
    Restricted Stock Units (the “Performance RSUs” and
    together with the Time RSUs, the “RSUs”). The RSUs
    shall be subject to the terms and conditions set forth herein.

 

    3.  Vesting of Restricted Stock
    Units.  

 

    (a) General.  

 

    (i) Subject to Sections 3(b) and 3(c) below, and
    subject to the Participant’s continued Employment with the
    Company and its Affiliates, fifty percent (50%) of the Time RSUs
    granted pursuant to this Agreement shall vest on each of
    June 5, 2009 and June 7, 2010 (each such date being
    referred to as a “Vesting Date”). Each period between
    the Date of Grant and a Vesting Date shall be referred to herein
    as a “Vesting Period.”

 

    (ii) Subject to Sections 3(b) and 3(c) below, and
    subject to the Participant’s continued Employment with the
    Company and its Affiliates, up to fifty percent (50%) of the
    Performance RSUs granted pursuant to this Agreement shall vest
    on each Vesting Date to the extent that the Performance Target
    for such Performance RSU is achieved for the vesting period
    ending on such Vesting Date.

 

    (b) Change in Control.   Upon the
    occurrence of a Change in Control, RSUs, to the extent not
    previously canceled, shall become fully vested.

 

    (c) Termination of Employment.  

 

    (i) General.   Except as provided
    in paragraph (ii) below, if the Participant’s
    Employment with the Company and its Affiliates terminates for
    any reason, the RSUs, to the extent not then vested, shall be
    immediately canceled by the Company without consideration.

 

    (ii) In the event that at any time prior to the date where
    the RSUs covered by this Agreement shall become fully vested
    (100%) as outlined in paragraph 3(a) above, the
    Participant’s Employment is terminated (x) by the
    Company without Cause, (y) by the Participant with Good
    Reason, or (z) due to the Participant’s death or Total
    Disability, then:

 

    (1)  all Time RSUs shall become immediately and
    unconditionally vested; and

 

    (2)  the number of Performance RSUs which become
    vested (rounded up to the nearest number of whole shares) with
    respect to each incomplete Vesting Period on such termination
    date shall be equal to the product of (1) the number of
    Performance RSUs granted hereunder, as adjusted if applicable,
    multiplied by (2) a fraction the numerator of which is the
    number of full months during any such Vesting Period through and
    including the date of termination and the denominator of which
    is the number of full months in each respective Vesting Period.

 

    The RSUs that vest under this paragraph 3(c)(ii) shall be
    issued as soon as practicable, but in no event later than
    21/2
    months after the end of the calendar year in which the
    Participant’s employment with the Company is
    terminated; and

 

    (iii) upon determination of the number of vested RSUs
    pursuant to clause (ii) above, all remaining RSUs shall be
    canceled without consideration.

 

    4.  Settlement of RSUs.   As
    soon as practicable following each Vesting Date (but in no event
    later than
    21/2
    months after the Vesting Date, or, in the event of a Change in
    Control, immediately prior to the occurrence of such Change in
    Control), the Company shall deliver to the Participant, in
    complete settlement of all vested RSUs, a number of Shares equal
    to the number of vested RSUs determined hereunder that have not
    previously been settled.

    

    2

 

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

 

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

 

    7.  Transferability.   An RSU
    may not be assigned, alienated, pledged, attached, sold or
    otherwise transferred or encumbered by the Participant otherwise
    than by will or by the laws of descent and distribution, and any
    such purported assignment, alienation, pledge, attachment, sale,
    transfer or encumbrance shall be void and unenforceable against
    the Company or any Affiliate; provided that the designation of a
    beneficiary shall not constitute an assignment, alienation,
    pledge, attachment, sale, transfer or encumbrance.

 

    8.  Taxes.   The Company shall
    be entitled to require, as a condition of delivery of the Shares
    in settlement of the RSUs, that the Participant agree to remit
    and when due an amount in cash sufficient to satisfy all current
    or estimated future federal, state and local withholding, and
    other taxes relating thereto. The Participant may be required to
    pay to the Company or its Affiliate and the Company or its
    Affiliate shall have the right and is hereby authorized to
    withhold from any payment due or transfer made with respect to
    the RSUs or from any compensation or other amount owing to a
    Participant the amount (in cash, Shares, other securities, other
    Awards or other property) of any applicable withholding taxes in
    respect of the vesting and or settlement of RSUs (including
    withholding of Shares otherwise deliverable in settlement of
    RSUs) and to take such action as may be necessary in the
    discretion of the Company to satisfy all obligations for the
    payment of such taxes.

 

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

 

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

 

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

 

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

 

    13.  Signature in
    Counterparts.   This Award Agreement may be
    signed in counterparts, each of which shall be an original, with
    the same effect as if the signatures thereto and hereto were
    upon the same instrument.

 

    14.  Validity of
    Agreement.  This Award Agreement shall be
    valid, binding and effective upon the Company on the Date of
    Grant. However, the RSUs contained in this Award Agreement shall
    be forfeited by the Participant and this Award Agreement shall
    have no force and effect if it is not duly executed (as outlined
    in Section 13) by the Participant within sixty
    (60) days of the Date of Grant.

 

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

    

    3

 

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

 

    CELANESE CORPORATION

 

			
	 	    By: 
	
    /s/  David
    N. Weidman

    Name:     David N. Weidman

			
	 	    Title: 
	
    Chairman and Chief Executive Officer

 

    Date: August 1, 2008

 

    ACCEPTED AND
    AGREED:                                            PARTICIPANT

 

			
	 	    By: 
	
    /s/  Michael
    L. Summers

    Name:     Michael L. Summers

    Employee ID: [Redacted]

 

    Date: August 12, 2008

    

    4

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