Document:

Exhibit 10.1

 

amendment #4 to the
amended and restated senior

secured promissory note originally issued on

september 28, 2018

 

THIS AMENDMENT #4 to the Note (as defined below)
(the “Amendment”) is entered into effective July 15, 2020 (the “Effective Date”), by and between Predictive
Oncology, Inc. (f/k/a Precision Therapeutics, Inc.), a Delaware corporation (the “Company”), and L2 Capital, LLC, a
Kansas limited liability company (the “Holder”, and together with the Company, the “Parties”).

 

background

 

		A.	The Company issued that certain amended and restated senior secured promissory note (the “Note”)
to the Holder on September 28, 2018 which was amended and restated as of February 7, 2019.

 

		B.	The Company and Holder previously extended the Maturity Date (as defined below) from June 30, 2020
to July 15, 2020 and desire to further amend the Note as set forth expressly below.

 

NOW THEREFORE, in consideration of the execution
and delivery of the Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties agree as follows:

 

		1.	Upon the execution of this Amendment by the Company, (i) the “Maturity Date” for all
amounts of principal, interest and other amounts owed and outstanding under the Note as of the Effective Date shall be extended
to September 30, 2020.

 

		2.	This Amendment shall be deemed part of, but shall take precedence over and supersede any provisions
to the contrary contained in the Note. Except as specifically modified hereby, all of the provisions of the Note, which are not
in conflict with the terms of this Amendment, shall remain in full force and effect, and this Amendment shall be governed by the
same law, and have the same conflict resolution provisions, as set forth in the Note. The parties hereby ratify and confirm the
terms and conditions of the Note, as supplemented and amended by this Amendment.

 

 

    1

     

    

 

IN WITNESS WHEREOF, the Parties hereto have
executed this Amendment as of the Effective Date.

 

 

 

 

	PREDICTIVE ONCOLOGY INC.	 
	 	 
	By:	 	/s/ Bob Myers	 
	Name	 	Bob Myers	 
	Title:	 	CFO	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	L2 CAPITAL, LLC	 
	 	 
	By:	 	/s/ Adam R. Long	 
	Name:	 	Adam R. Long	 
	Title:	 	Managing Member	 

 

 

 

 

 

2Exhibit 10.2

 

AMENDMENT #2 TO THE SENIOR
SECURED

PROMISSORY NOTE ORIGINALLY
ISSUED ON SEPTEMBER 27, 2019

 

THIS AMENDMENT
#2 to the Note (as defined below) (the "Amendment") is entered into effective July 15, 2020 (the "Effective Date"),
by and between Predictive Oncology, Inc. (fka Precision Therapeutics, Inc.), a Delaware corporation (the "Company"),
and Oasis Capital, LLC, a Puerto Rico limited liability company (the "Holder", and together with the Company, the "Parties").

 

BACKGROUND

 

A.              
The Company issued that certain senior secured promissory note to the Holder on September 27, 2019, as amended on March
19, 2020 (as so amended, the "Note").

 

B.               
The Company and Holder previously extended the Maturity Date (as defined below) from June 30, 2020 to July 15, 2020 and
desire to further amend the Note as set forth expressly below.

 

NOW THEREFORE,
in consideration of the execution and delivery of the Amendment and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

 

Upon the
execution of this Amendment (as defined below) by the Company, (i) the "Maturity Date" for all amounts of principal,
interest and other amounts owed and outstanding under the Note as of the Effective Date shall be extended to September 30, 2020,
and in exchange for such extension (ii) the outstanding principal amount of the Note is hereby increased by Three Hundred Forty-Five
Thousand Dollars ($345,000.00) such that as of the Effective Date, the outstanding principal amount (not including accrued interest
and any other amounts) owed under the Note is $1,280,833.00.

 

This Amendment
shall be deemed part of but shall take precedence over and supersede any provisions to the contrary contained in the Note. Except
as specifically modified hereby, all of the provisions of the Note, which are not in conflict with the terms of this Amendment,
shall remain in full force and effect, and this Amendment shall be governed by the same law, and have the same conflict resolution
provisions, as set forth in the Note. The parties hereby ratify and confirm the terms and conditions of the Note, as supplemented
and amended by this Amendment.

    	 	1	 

     

    

IN WITNESS WHEREOF, the Parties
hereto have executed this Amendment as of the Effective Date.

 

 

 

 

 

	PREDICTIVE ONCOLOGY INC.	 
	 	 
	Name:	 	/s/ Bob Myers	 
	Title:	 	CFO	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	OASIS CAPITAL, LLC	 
	 	 
	Name:	 	/s/ Adam R. Long	 
	Title:	 	Managing Member	 

 

 

 

 

 

2Exhibit 10.3

 

 

AMENDMENT #1 TO THE SENIOR SECURED

PROMISSORY NOTE ORIGINALLY ISSUED
ON FEBRUARY 5, 2020

 

THIS AMENDMENT #1 to
the Note (as defined below) (the "Amendment") is entered into effective July 15, 2020 (the "Effective Date"),
by and between Predictive Oncology, Inc. (a/k/a Precision Therapeutics, Inc.), a Delaware corporation (the "Company"),
and Oasis Capital, LLC, a Puerto Rico limited liability company (the "Holder", and together with the Company, the "Parties").

 

BACKGROUND

 

A.              
The Company issued that certain senior secured promissory note (the "Note") to the Holder on February 5, 2020.

 

B.               
The Company and Holder desire to amend the Note as set forth expressly below.

 

NOW THEREFORE, in consideration
of the execution and delivery of the Amendment and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Parties agree as follows:

 

Upon the execution
of this Amendment (as defined below) by the Company, (i) the "Maturity Date" for all amounts of principal, interest and
other amounts owed and outstanding under the Note as of the Effective Date shall be extended from August 5, 2020 to September 30,
2020, and in exchange for such extension (ii) the outstanding principal amount of the Note is hereby increased by One Hundred Seventy-Two
Thousand Five Hundred ($172,500.00) such that as of the Effective Date, the outstanding principal amount (not including accrued
interest and any other amounts) owed under the Note is $1,622,500.00.

 

This Amendment shall
be deemed part of but shall take precedence over and supersede any provisions to the contrary contained in the Note. Except as
specifically modified hereby, all of the provisions of the Note, which are not in conflict with the terms of this Amendment, shall
remain in full force and effect, and this Amendment shall be governed by the same law, and have the same conflict resolution provisions,
as set forth in the Note. The parties hereby ratify and confirm the terms and conditions of the Note, as supplemented and amended
by this Amendment.

    	 	1	 

     

    

IN WITNESS WHEREOF, the Parties
hereto have executed this Amendment as of the Effective Date.

 

 

 

 

 

	PREDICTIVE ONCOLOGY INC.	 
	 	 
	Name:	 	/s/ Bob Myers	 
	Title:	 	CFO	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	OASIS CAPITAL, LLC	 
	 	 
	Name:	 	/s/ Adam R. Long	 
	Title:	 	Managing Member	 

 

 

 

 

 

 

2Exhibit 10.1

 

EXECUTION VERSION

 

 

 

 

TRANSACTION AGREEMENT

 

 

 

 

among

 

CELANESE CORPORATION,

 

CELANESE SALES NETHERLANDS B.V.,

 

DAICEL CORPORATION,

 

and

 

POLYPLASTICS COMPANY, LTD.

 

Dated as of July 20, 2020

 

 

 

     

     

    

 

	TABLE OF CONTENTS	 
	 	 
	 	Page
	 	 
	Article I	 
	 	 
	DEFINITIONS	 
	 	 
	Section 1.01	 Certain Defined Terms	1
	Section 1.02	Definitions	7
	Section 1.03	 Interpretation and Rules of Construction	8

 

	Article II	 
	 	 
	SALE AND PURCHASE	 
	 	 
	Section 2.01	 Sale and Purchase of the Shares	9
	Section 2.02	 Purchase Price; Allocation of Purchase Price	9
	Section 2.03	Closing	9
	Section 2.04	Closing Deliveries by Seller	10
	Section 2.05	Closing Deliveries by Purchaser	10

 

	Article III	 
	 	 
	 REPRESENTATIONS AND WARRANTIES OF CELANESE AND SELLER	 
	 	 
	Section 3.01	 Organization, Authority and Qualification of Seller and Celanese	11
	Section 3.02	No Conflict	11
	Section 3.03	 Governmental Consents and Approvals	12
	Section 3.04	 Title to the Shares	12
	Section 3.05	 Broker’s Fees	12
	Section 3.06	Antisocial Forces	12
	Section 3.07	 Disclaimer of Seller	12

 

	Article IV	 
	 	 
	 REPRESENTATIONS AND WARRANTIES OF PURCHASER	 
	 	 
	Section 4.01	 Organization, Authority and Qualification of Purchaser	13
	Section 4.02	 No Conflict	14
	Section 4.03	Governmental Consents and Approvals	14
	Section 4.04	 Antisocial Forces	15

 

    i

     

    

 

	Article V	 
	 	 
	 REPRESENTATIONS AND WARRANTIES OF THE COMPANY	 
	 	 
	Section 5.01	 Organization, Authority and Qualification of the Company	15
	Section 5.02	No Conflict	15
	Section 5.03	Governmental Consents and Approvals	16
	Section 5.04	 Antisocial Forces	16

 

	Article VI	 
	 	 
	 ADDITIONAL AGREEMENTS	 
	 	 
	Section 6.01	Conduct of Business prior to the Closing	16
	Section 6.02	 Efforts; Filings	16
	Section 6.03	Terminated Agreements; Surviving Agreements	18
	Section 6.04	 Further Action	18
	Section 6.05	Tax Matters	19
	Section 6.06	Mutual Releases	20
	Section 6.07	 Director and Officer Liability and Indemnification	21
	Section 6.08	Payment of Dividends	21
	Section 6.09	Release from Credit Support Instruments	21
	Section 6.10	Books and Records	22
	Section 6.11	Nonencumbrance	23
	Section 6.12	 Guarantee	23

 

	Article VII	 
	 	 
	 CONDITIONS TO CLOSING	 
	 	 
	Section 7.01	 Conditions to Obligations of Celanese and Seller	23
	Section 7.02	Conditions to Obligations of Purchaser	23

 

	Article VIII	 
	 	 
	 INDEMNIFICATION	 
	 	 
	Section 8.01	 Survival of Representations, Warranties and Covenants	24
	Section 8.02	 Indemnification by Celanese and Seller	24
	Section 8.03	 Indemnification by Purchaser and the Company	25
	Section 8.04	 Notice of Loss; Third Party Claims	25
	Section 8.05	Remedies	26

 

	Article IX	 
	 	 
	 TERMINATION	 
	 	 
	Section 9.01	 Termination	26
	Section 9.02	Effect of Termination	27

 

    ii

     

    

 

	Article X	 
	 	 
	 GENERAL PROVISIONS	 
	 	 
	Section 10.01	 Expenses	27
	Section 10.02	Notices	27
	Section 10.03	 Public Announcements	29
	Section 10.04	 Severability	29
	Section 10.05	 Entire Agreement	29
	Section 10.06	 Assignment	30
	Section 10.07	 Amendment	30
	Section 10.08	 Waiver	30
	Section 10.09	 No Third-Party Beneficiaries	30
	Section 10.10	 Specific Performance	30
	Section 10.11	Governing Law	31
	Section 10.12	 Waiver of Jury Trial	31
	Section 10.13	 Counterparts	32

 

 

EXHIBITS

 

A

 B

 C

D

 

SCHEDULES

 

1.01(a)

1.01(b)

1.01(c)

1.01(d)

6.03(a)

7.01(c)

 

    iii

     

    

 

TRANSACTION AGREEMENT, dated as of July 20,
2020 (this “Agreement”), among Celanese Corporation, a Delaware corporation (“Celanese”),
Celanese Sales Netherlands B.V., a Dutch limited liability company (besloten vennootschap) (“Seller”),
Daicel Corporation, a Japanese stock corporation (kabushiki kaisha) (“Purchaser”), and Polyplastics Company,
Ltd., a Japanese stock corporation (kabushiki kaisha) (the “Company”).

 

WHEREAS, the Company was formed as a joint
venture between Celanese and Purchaser;

 

WHEREAS, Celanese, Ticona LLC, a Delaware
limited liability company (“Ticona”), Purchaser, and the Company entered into the Master Agreement, dated February
15, 2012 (the “Master Agreement”), pursuant to which the parties thereto and certain of their Affiliates agreed
to execute certain agreements relating to the ownership and operation of the Company, including the Shareholders Agreement, dated
as of February 15, 2012 (as amended, the “Shareholders Agreement”), among Celanese, Ticona, Purchaser, and the
Company, and the Joint Venture Agreement, dated as of February 15, 2012 (the “Joint Venture Agreement”), among
Celanese, Ticona, and Purchaser;

 

WHEREAS, Seller owns 2,700,000 of the shares
of common stock of the Company (the “Shares”), which constitutes 45% of the 6,000,000 issued and outstanding
shares of common stock of the Company; and

 

WHEREAS, Seller desires to sell to Purchaser,
and Purchaser desires to purchase from Seller, the Shares, upon the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, in consideration of the foregoing
premises and the respective representations, warranties, covenants and agreements contained in this Agreement, and intending to
be legally bound hereby, the parties hereto hereby agree as follows:

 

Article
I

 

DEFINITIONS

 

Section
1.01 Certain Defined Terms. For purposes of this Agreement:

 

“Action” means any claim,
action, suit, inquiry, proceeding, audit, examination, litigation, arbitration or investigation by or before any Governmental Authority
or arbitral tribunal.

 

“Affiliate” means, with
respect to any specified Person, any other Person that, directly or indirectly, through one or more intermediaries, controls, is
controlled by, or is under common control with, such specified Person; provided, that except to the extent otherwise provided
herein (a) prior to the Closing, none of the Company or any of its Subsidiaries shall constitute an Affiliate of Purchaser or any
of Purchaser’s Affiliates, (b) from and after the Closing, the Company and its Subsidiaries shall each constitute an Affiliate
of Purchaser and each of its Affiliates, and (c) none of the Company or any of its Subsidiaries shall constitute an Affiliate of
Celanese or any of Celanese’s Affiliates.

 

     

     

    

 

“Ancillary Agreements”
means the agreements set forth on Schedule 1.01(a).

 

“Anti-Social Conduct” means
(a) a demand or conduct with force or arms, (b) an unreasonable demand or conduct having no legal cause, (c) threatening or committing
violent behavior relating to business transactions, (d) an action to defame the reputation or interfere with the business of any
Person by spreading rumors, using fraudulent means or resorting to force, or (e) any other action similar or analogous to any of
the foregoing in any jurisdiction.

 

“Anti-Social Group” means
(a) an organized crime group (as defined in the Law relating to Prevention of Unjustifiable Acts by Gang Members of Japan (Law
No. 77 of 1991, as amended), hereinafter the same), (b) a member of an organized crime group, (c) a Person who used to be a member
of an organized crime group but has only ceased to be such a member for a period of less than five (5) years, (d) a quasi-member
of an organized crime group, (e) a related or associated company of an organized crime group, (f) a corporate racketeer or blackmailer
advocating social cause or a special intelligence organized crime group, or (g) a member of any other criminal force similar or
analogous to any of the foregoing in any jurisdiction.

 

“Anti-Social Relationship”
means, in relation to a Person, (a) an Anti-Social Group controls such Person’s management, (b) an Anti-Social Group is substantively
involved in such Person’s management, (c) such Person has entered into arrangements with an Anti-Social Group for the purpose
of, or which have the effect of, unfairly benefiting such Person or a third party or prejudicing a third party, (d) such Person
is involved in the provision of funds or other benefits to an Anti-Social Group, or (e) any of such Person’s directors or
any other Person who is substantively involved in such Person’s management has a socially objectionable relationship with
an Anti-Social Group.

 

“Business Day” means a
day that is not a Saturday, a Sunday or other day on which banks are required or authorized by Law to be closed in the cities of
Tokyo, Japan; New York, New York, U.S.A.; or Dallas, Texas, U.S.A.

 

“Company Organizational Documents”
means the articles of incorporation, by-laws, the Shareholders Agreement, the Joint Venture Agreement, and any similar organizational,
governing or shareholders agreements of the Company or any of its Subsidiaries.

 

“Confidentiality Agreement”
means that Mutual Nondisclosure Agreement, dated as of February 1, 2020, between Celanese and Purchaser.

 

    	 	2	 

     

    

 

“control” (including the
terms “controlled by” and “under common control with”), with respect to the relationship
between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause the direction
of the affairs, policies or management of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

“Encumbrance” means any
charge, claim, mortgage, lien, option, pledge, security interest or other restriction of any kind (other than those created under
applicable securities Laws, by Purchaser or any of its Affiliates, or under the Company Organizational Documents).

 

“Environmental Law”
means any Law or Governmental Order relating to (a) pollution, the protection of the environment, including flora and fauna and
their habitats, or health and safety; (b) noise, odor, or nuisance; (c) climate change or greenhouse gases; (d) natural resources,
including natural resource damages; or (e) the treatment, storage, disposal, manufacture, generation, transportation, handling,
use, reclamation, recycling, registration, evaluation, authorization, restriction, or Release of, or exposure to, Hazardous Materials.

 

“Environmental Permit”
means any permit, approval, identification number, variance or license that the Company or any of its Subsidiaries is required
to possess pursuant to any applicable Environmental Law.

 

“Governmental Authority”
means any federal, national, foreign, supranational, state, provincial, local or other government, governmental, regulatory or
administrative authority, agency, commission or any court of competent jurisdiction.

 

“Governmental Order” means
any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Authority.

 

“Hazardous Materials” means
(a) petroleum and petroleum products, by-products or breakdown products, radioactive materials, asbestos containing materials,
per- and poly-fluoroalkyl substances, polychlorinated biphenyls, and toxic mold; and (b) any other chemical, material or substance
defined or regulated as toxic or hazardous or as a contaminant, pollutant or hazardous waste, or words of similar meaning and regulatory
effect, or with respect to which Liabilities may be imposed, under any applicable Environmental Law.

 

“Indemnified Party” means
any party hereto that is entitled to indemnification pursuant to Article VIII.

 

“Indemnifying Party” means
any party hereto that is obligated to indemnify another party hereto pursuant to Article VIII.

 

    	 	3	 

     

    

 

“IP License Agreements”
means the POM Intellectual Property Cross License Agreement, to be entered into by Celanese, Purchaser, and the Company, in substantially
the form attached as Exhibit A; the LCP Intellectual Property Cross License Agreement, to be entered into by Celanese, Purchaser,
and the Company, in substantially the form attached as Exhibit B; and the Acetic Acid Intellectual Property Cross License
Agreement, to be entered into by Celanese and Purchaser, in substantially the form attached as Exhibit C.

 

“Law” means any federal,
national, foreign, supranational, state, provincial or local statute, law, ordinance, regulation, rule, code, order, requirement
or rule of law (including common law).

 

“Liabilities” means any
and all costs, debts, liabilities and obligations, including any fines, penalties, judgments, awards or settlements, whether accrued
or unaccrued, fixed or variable, known or unknown, absolute or contingent, matured or unmatured or determined or determinable,
including those arising under any Law, Action or Governmental Order and those arising under any contract, lease, agreement, arrangement,
commitment or undertaking.

 

“Material Adverse Effect”
means any event, circumstance, change in, or effect on, the Company and its Subsidiaries that is materially adverse to the financial
condition of the Company and its Subsidiaries, taken as a whole; provided, however, that a “Material Adverse
Effect” shall not include any event, circumstance, change, or effect, directly or indirectly, arising out of or attributable
to or resulting from, alone or in combination: (a) events, circumstances, changes or effects that generally affect the industries
or segments thereof, in which the Company and its Subsidiaries operate, including legal and regulatory conditions and changes in
the price of commodities or raw materials; (b) events, circumstances, changes or effects that generally affect business, economic
or political conditions; (c) events, circumstances, changes or effects affecting the financial, credit or securities markets
in the United States, Japan or in any other country or region in the world, including changes in interest rates, foreign exchange
rates, or credit ratings; (d) events, circumstances, changes or effects arising out of, or attributable to, the negotiation,
the announcement, the execution, the pendency, or the consummation, of the transactions contemplated by, this Agreement or any
other Transaction Document, the identity of Purchaser or any of its Representatives, any actions taken or not taken in accordance
with, or contemplated by, this Agreement, any other Transaction Document or in compliance with applicable Law, actions taken or
not taken at the request of Purchaser or any of its Representatives or any communication by Purchaser or any of its Representatives
(including in respect of plans or intentions with respect to the Company, its Subsidiaries or their respective employees), including
(i) any actions of competitors; (ii) any actions taken by, or losses of, employees, customers, distributors, suppliers,
financing sources, landlords, licensors, licensees, sub-licensees or co-promotion or joint venture partners or any other Persons;
(iii) any delays or cancellations of orders for products or services; or (iv) any actions taken in connection with obtaining
regulatory consents or approvals, or any Action, event, circumstance, change or effect resulting therefrom or with respect thereto;
(e) events, circumstances, changes or effects arising out of, or attributable to, strikes, slowdowns, lockouts or work stoppages
(pending or threatened); (f) events, circumstances, changes or effects arising out of, or attributable to, any reduction or
increase in the price of services or products offered by the Company and its Subsidiaries; (g) events, circumstances, changes
or effects arising out of, or attributable to, acts of armed hostility, sabotage (including by cyberattack or otherwise), terrorism,
national emergency or war (whether or not declared), including any escalation or worsening thereof; (h) events, circumstances,
changes or effects arising out of, or attributable to, earthquakes, hurricanes, tsunamis, tornadoes, hail, storms, lightning, droughts,
floods, frosts, mudslides or other natural or manmade disasters, acts of God, weather-related conditions, explosions or fires,
or any force majeure events in any country or region in the world, including any escalation or worsening thereof; (i) events, circumstances,
changes or effects arising out of, or attributable to, the COVID-19 pandemic (including the worsening thereof), (j) events,
circumstances, changes or effects arising out of, or attributable to, changes (or proposed changes) or modifications in U.S. or
Japanese generally accepted accounting principles, other applicable accounting standards or applicable Law or the interpretation
or enforcement thereof; (k) events, circumstances, changes or effects arising out of, or attributable to, the failure by the
Company or any of its Subsidiaries to meet any internal or other estimates (including analyst and Purchaser estimates), expectations,
forecasts, plans, projections or budgets for any period (but excluding any underlying cause of such failure that may independently
constitute a Material Adverse Effect if such cause is not otherwise excluded under this definition); or (l) events, circumstances,
changes or effects arising out of, or attributable to, any actions taken or not taken by Purchaser, any of its shareholders, or
any of their respective Representatives, or any matter that Purchaser, any of its shareholders, or any of their respective Representatives
is aware of on or prior to the date hereof, except, in each case of clauses (a), (b) and (c), to the
extent that such events, circumstances, changes or effects have a materially disproportionate effect on the Company and its Subsidiaries,
taken as a whole, as compared with other participants in the industries in which the Company and its Subsidiaries operate.

 

    	 	4	 

     

    

 

“Person” means any individual,
partnership, firm, corporation, limited liability company, association, trust, unincorporated organization or other entity, as
well as any syndicate or group that would be deemed to be a person under Section 13(d)(3) of the Securities Exchange Act of
1934, as amended.

 

“Pre-Closing Environmental Liabilities”
means any Liability arising out of, relating to, or resulting from, (a) any Releases of Hazardous Materials prior to the Closing
at, in, on, under, to or from any real property currently owned, operated or leased by the Company or any of its Subsidiaries;
(b) any Releases of Hazardous Materials prior to the Closing at, in, on, under, to or from any real property formerly owned, operated
or leased by the Company or any of its Subsidiaries, either by the Company or any of its Subsidiaries or during the period of their
respective ownership, operation or lease of such property; (c) any Releases of Hazardous Materials at any third-party site that
were sent to such site for treatment, storage or disposal prior to the Closing by the Company or any of its Subsidiaries, or, during
the period of their respective ownership, operation or lease thereof, from any real property owned, operated or leased by the Company
or any of its Subsidiaries; (d) exposure to Hazardous Materials at any real property owned or leased by the Company or any of its
Subsidiaries prior to the Closing, or any exposure to any Hazardous Materials included in any product or material sold or distributed
by the Company or any of its Subsidiaries prior to the Closing; (e) any violation of or noncompliance with Environmental Laws or
Environmental Permits by the Company or any of its Subsidiaries, or at any real property owned, operated or leased by the Company
or any of its Subsidiaries during the period of their respective ownership, operation or lease of such property, prior to the Closing;
and (f) any Third Party Claim relating to any of clauses (a) through (e) above.

 

    	 	5	 

     

    

 

“Pre-Closing Product Liabilities”
means any Liability arising out of, relating to, or resulting from, the products or inventory of the Company or any of its Subsidiaries,
including the products’ and the inventories’ manufacture, design, development, testing, importation, distribution,
delivery, transport, storage, ownership, possession, marketing, labeling, packaging, sale, purchase, consignment or leasing, or
the provision of services with respect to the Company or any of its Subsidiaries, its products or its inventory, in each case,
prior to the Closing.

 

“Purchase Price Bank Account”
means a bank account or accounts to be designated by Seller in a written notice to Purchaser at least two (2) Business Days prior
to the Closing Date.

 

“Release” means releasing,
disposing, discharging, injecting, spilling, leaking, pumping, pouring, leaching, migrating, dumping, emitting, escaping or emptying
into the environment, including soil, sediment, subsurface strata, surface water, groundwater, or ambient air.

 

“Representatives” means
with respect to any Person, such Person’s Affiliates and its and their respective directors, officers, employees, agents,
other representatives and advisors.

 

“Required Antitrust Clearances”
means the consents, authorizations, orders, approvals, decisions, expiration or termination of waiting periods, or declarations
required under the antitrust, competition or other similar Laws of the jurisdictions identified on Schedule 1.01(b).

 

“Stub Dividend” means a
dividend (prorated as applicable) to be paid by the Company in respect of the period beginning on the day following the end of
the fiscal year with respect to which the last annual dividend of the Company was paid and ending on (and including) the Closing
Date; provided, that the amount of such dividend is consistent (taking into account any such proration and any interim dividends
paid by the Company during such period) with the amount of dividends to be paid by the Company as contemplated by the Shareholders
Agreement.

 

“Subsidiary” of any specified
Person means any general or limited partnership, company, corporation, limited liability company, limited liability partnership
or other organization, whether incorporated or unincorporated, which is controlled by such Person.

 

    	 	6	 

     

    

 

“Supply Agreements” means
(a) the Master Supply Agreement, dated as of February 15, 2012, among the Company, Ticona and Celanese (as amended, including by
the Letter Agreement and Amendment No. 1 to Master Supply Agreement, dated December 12, 2013, and the Confirmation for Malaysian
Expansion 2014 attached as Exhibit AA thereto (the “Malaysian Confirmation”)); (b) the Resin Quality Agreement,
dated as of January 14, 2016, between Celanese and the Company; (c) the Memorandum of Understanding on Nomination Supply and Delivery
of Resin between Celanese and the Company dated October 1, 2016; and (d) the Confidential Settlement Agreement and Release, effective
October 8, 2019, between Celanese and the Company.

 

“Surviving Agreements”
means (a) the Supply Agreements as amended at the Closing by the Supply Agreement Amendments (as defined in Section 6.03(b));
and (b) the agreements set forth on Schedule 1.01(c).

 

“Tax” or “Taxes”
means all U.S. federal, state, local and non-U.S. taxes, and other assessments of a similar nature including: (a) taxes or other
charges on or with respect to income, franchises, windfall or other profits, gross receipts, profits, sales, use, capital stock,
payroll, employment, social security, workers’ compensation, unemployment compensation or net worth; (b) taxes or other charges
in the nature of excise, withholding, ad valorem, stamp, transfer, value added or gains taxes; (c) license, registration
and documentation fees; and (d) customs duties, tariffs and similar charges, in each case, whether imposed directly or through
withholding, and including any interest, additions to tax, or penalties applicable thereto.

 

“Terminated Agreements”
means (a) the agreements set forth on Schedule 1.01(d); and (b) any other agreements terminated pursuant to the Omnibus
Termination Agreement, (each of the agreements provided under foregoing clauses (a) through (b), as amended); provided,
that this Agreement, the other Transaction Documents and the Surviving Agreements shall not be considered Terminated Agreements.

 

“Transaction Documents”
means this Agreement and the Ancillary Agreements.

 

Section
1.02 Definitions. The following terms have the meanings set forth in the Sections set forth below:

 

	Definition	Location
	Agreement	Preamble
	Celanese	Preamble
	Closing	2.03
	Closing Date	2.03(b)
	Company	Preamble
	Credit Support Instruments	6.09
	D&O Indemnified Party	6.07(a)
	Divestiture	6.02(c)
	Joint Venture Agreement	Recitals
	Losses	8.02

 

    	 	7	 

     

    

 

	Malaysian Confirmation	1.01
	Master Agreement	Recitals
	Omnibus Termination Agreement	6.03(a)
	Purchase Price	2.02(a)
	Purchaser	Preamble
	Purchaser Released Liabilities	6.06(b)
	Purchaser Released Parties	6.06(a)
	Seller	Preamble
	Seller Released Liabilities	6.06(a)
	Seller Released Parties	6.06(a)
	Shareholders Agreement	Recitals
	Shares	Recitals
	Supply Agreement Amendments	6.03(b)
	Surviving Payment Obligations	6.03(a)
	Termination Date	9.01(a)
	Third Party Claim	8.04
	Ticona	Recitals

 

Section
1.03 Interpretation and Rules of Construction. In this Agreement, except to the extent otherwise provided or that
the context otherwise requires:

 

(a)              
when a reference is made in this Agreement to an Article, Section, Exhibit or Schedule, such reference is to an Article
or Section of, or an Exhibit or Schedule to, this Agreement;

 

(b)              
the table of contents and headings for this Agreement are for reference purposes only and do not affect in any way
the meaning or interpretation of this Agreement;

 

(c)              
whenever the words “include,” “includes” or “including” are used in this Agreement,
they are deemed to be followed by the words “without limitation”;

 

(d)              
the words “hereof,” “herein” and “hereunder” and words of similar import, when
used in this Agreement, refer to this Agreement as a whole and not to any particular provision of this Agreement;

 

(e)              
all terms defined in this Agreement have the defined meanings when used in any certificate or other document delivered
or made available pursuant hereto, unless otherwise defined therein;

 

(f)               
references to “day” or “days” are to calendar days;

 

(g)              
the definitions contained in this Agreement are applicable to the singular as well as the plural forms of such terms;

 

    	 	8	 

     

    

 

(h)              
whenever words of one gender are used in this Agreement, they are deemed to include the other gender;

 

(i)                
references to a Person are also to its successors and permitted assigns;

 

(j)                
the parties hereto have each participated in the negotiation and drafting of this Agreement and the other Transaction
Documents, and if an ambiguity or question of interpretation should arise, this Agreement and the other Transaction Documents shall
be construed as if drafted jointly by the parties hereto or thereto, as applicable, and no presumption or burden of proof shall
arise favoring or burdening any party by virtue of the authorship of any of the provisions in this Agreement or the other Transaction
Documents;

 

(k)              
when calculating the period of time before which, within which or following which any act is to be done or step taken
pursuant to this Agreement, the date that is the reference date in calculating such period shall be excluded. If the last day of
such period is not a Business Day, the period in question shall end on the next succeeding Business Day; and

 

(l)                
references to sums of money are expressed in lawful currency of the United States, and “$” refers to
United States dollars.

 

 

Article
II

 

SALE AND PURCHASE

 

Section
2.01 Sale and Purchase of the Shares. Upon the terms and subject to the conditions of this Agreement, at the Closing,
Seller shall sell to Purchaser, and Purchaser shall purchase from Seller, the Shares.

 

Section
2.02 Purchase Price; Allocation of Purchase Price.

 

(a)              
The purchase price for the Shares shall be $1,575,000,000 (the “Purchase Price”).

 

(b)              
The Purchase Price shall be allocated only to the Shares. None of Seller, Purchaser or any of their respective Affiliates
shall take any position (whether in audits, tax returns or otherwise) that is inconsistent with such allocation unless required
to do so by applicable Law.

 

    	 	9	 

     

    

 

Section
2.03 Closing. Upon the terms and subject to the conditions of this Agreement, the sale and purchase of the Shares
as contemplated by this Agreement shall take place at a closing (the “Closing”) to be held (a) at the offices
of Shearman & Sterling LLP, Fukoku Seimei Building, 9th Floor, 2-2-2 Uchisaiwaicho, Chiyoda-ku, Tokyo, Japan; or
(b) if the parties hereto agree otherwise in writing, remotely via the electronic exchange of documents and signatures, at 9:00 a.m.
New York time (x) on the fifth (5th) Business Day following the satisfaction or waiver of the conditions to the obligations
of the parties hereto set forth in Article VII (other than conditions that by their nature are to be satisfied at the Closing,
and subject to the satisfaction or waiver of such conditions) or; (y) at such other place or at such other time, or on such other
date, as Seller and Purchaser may mutually agree upon in writing (the day on which the Closing takes place being the “Closing Date”).

 

Section
2.04 Closing Deliveries by Seller. At the Closing, Seller shall deliver or cause to be delivered to Purchaser:

 

(a)              
(i) the share certificate(s) representing the Shares and (ii) a request of change of entry in the shareholder register
for the Shares pursuant to Article 133 of the Japan Companies Act duly executed by Seller;

 

(b)              
an executed counterpart of each Ancillary Agreement (each of which (other than the IP License Agreements) shall be
in form and substance agreed between Purchaser and Seller) to which Celanese, Seller or any of their respective Affiliates is a
party;

 

(c)              
the certificate referenced in Section 7.02(a)(iii);

 

(d)              
a receipt acknowledging receipt of the Purchase Price; and

 

(e)              
if not already delivered, the resignation letters of the directors and officers of the Company nominated by Celanese
or Seller in substantially the form attached as Exhibit D.

 

Section
2.05 Closing Deliveries by Purchaser. At the Closing, Purchaser shall deliver or cause to be delivered to Seller:

 

(a)              
the Purchase Price by wire transfer in immediately available funds to the Purchase Price Bank Account;

 

(b)              
an executed counterpart of each Ancillary Agreement (each of which (other than the IP License Agreements) shall be
in form and substance agreed between Purchaser and Seller) to which Purchaser or any of its Affiliates (for purposes of this clause
(b), including the Company and any of its Subsidiaries) is a party;

 

(c)              
the certificate referenced in Section 7.01(a)(iii); and

 

(d)              
a receipt acknowledging receipt of the share certificate(s) representing the Shares.

 

    	 	10	 

     

    

 

Article
III

 

REPRESENTATIONS AND WARRANTIES OF CELANESE AND SELLER

 

Celanese and Seller hereby jointly and severally
represent and warrant to the other parties hereto as follows:

 

Section
3.01 Organization, Authority and Qualification of Seller and Celanese. Seller is a limited liability company (besloten
vennootschap) duly organized, validly existing and in good standing (to the extent such concept is recognized) under the laws
of the Netherlands. Celanese is a corporation duly organized, validly existing and in good standing under the laws of the State
of Delaware, U.S.A. Each of Seller and Celanese has all necessary corporate power and authority to enter into this Agreement and
the other Transaction Documents to which it is a party, to carry out its obligations hereunder and thereunder and to consummate
the transactions contemplated hereby and thereby. The execution and delivery by each of Seller and Celanese of this Agreement and
the other Transaction Documents to which it is a party, the performance by each of Seller and Celanese of its obligations hereunder
and thereunder, and the consummation by each of Seller and Celanese of the transactions contemplated hereby and thereby, have been
duly authorized by all requisite action on the part of each of Seller and Celanese. This Agreement has been, and upon their execution,
the other Transaction Documents to which Seller or Celanese is a party, will be, duly executed and delivered by Seller and Celanese
respectively, and (assuming due authorization, execution and delivery by the other parties thereto) this Agreement constitutes,
and upon their execution, each of the other Transaction Documents to which Seller or Celanese is a party, will constitute, a legal,
valid and binding obligation of Seller and Celanese respectively, enforceable against Seller and Celanese, respectively, in accordance
with their respective terms, subject to the effect of any applicable bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium or other similar Laws relating to, or affecting, creditors’ rights generally and subject to the effect of general
principles of equity (regardless of whether considered in a proceeding at law or in equity).

 

Section
3.02 No Conflict. Assuming that all consents, approvals, authorizations and other actions described in Section 3.03
have been obtained, all filings and notifications listed in Section 3.03 have been made, any applicable waiting period has
expired or been terminated, and except as may result from any facts or circumstances relating solely to Purchaser or its Affiliates,
the execution, delivery and performance by Seller and Celanese of this Agreement does not (a) violate, conflict with, or result
in the breach of any provision of the certificate of incorporation or by-laws (or similar organizational documents) of Seller or
Celanese; (b) conflict with, or violate, any Law or Governmental Order applicable to Seller or Celanese; or (c) conflict
with, result in any breach of, constitute a default (or an event which, with the giving of notice or lapse of time, or both, would
become a default) under, require any consent under, or give to others any rights of termination, acceleration or cancellation of,
any note, bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other instrument or
arrangement to which Seller or Celanese or any Affiliates of Seller or Celanese is a party except, in the case of clauses (b)
and (c) above, as would not materially and adversely affect the ability of Seller or Celanese to carry out its respective
obligations under, and to consummate the transactions contemplated by, this Agreement.

 

    	 	11	 

     

    

 

Section
3.03 Governmental Consents and Approvals. The execution, delivery and performance by Seller and Celanese of this
Agreement does not require any consent, approval, authorization or other order or declaration of, action by, filing with or notification
to, any Governmental Authority, other than (a) in connection with the Required Antitrust Clearances; (b) where the failure
to obtain such consent, approval, authorization or action, or to make such filing or notification, would not prevent or materially
delay the consummation by Seller or Celanese of the transactions contemplated by this Agreement; or (c) consents, approvals,
authorizations or other orders or declarations of, actions by, filings with, or notifications to, any Governmental Authority as
a result of any facts or circumstances relating solely to Purchaser or any of its Affiliates.

 

Section
3.04 Title to the Shares. Seller is the record and beneficial owner of the Shares and Seller has good and valid title
to the Shares free and clear of any Encumbrances. Except for any agreements with Purchaser, the Company or any of their respective
Affiliates, there are no voting trusts, stockholder agreements, proxies, powers of attorney or other rights or agreements with
respect to the voting or transfer of the Shares. Upon payment of the Purchase Price by Purchaser at the Closing, Seller will deliver
good and valid title to the Shares to Purchaser free and clear of any Encumbrances.

 

Section
3.05 Broker’s Fees. Neither Seller nor any of its Affiliates has employed any broker or finder or incurred
any Liability for any broker’s fees, commissions or finder’s fees in connection with any of the transactions contemplated
by this Agreement.

 

Section
3.06 Antisocial Forces. Neither Seller nor any of its Representatives is classified as, belongs to, or is associated
with, an Anti-Social Group, has an Anti-Social Relationship, or has engaged in Anti-Social Conduct, whether directly or indirectly
through a third party.

 

    	 	12	 

     

    

 

Section
3.07 Disclaimer of Seller.

 

(a)              
EXCEPT AS EXPRESSLY SET FORTH IN THIS ARTICLE III AND NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, NONE
OF SELLER OR ITS REPRESENTATIVES MAKES OR HAS MADE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, IN
RESPECT OF ANY OF THE SHARES, THE COMPANY AND ITS SUBSIDIARIES, THEIR RESPECTIVE BUSINESSES, OR THE TRANSACTIONS CONTEMPLATED HEREBY
AND UNDER THE OTHER TRANSACTION DOCUMENTS. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, SELLER AND ITS REPRESENTATIVES HAVE
NOT MADE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, WITH RESPECT TO (I) MERCHANTABILITY OR FITNESS
FOR ANY PARTICULAR USE OR PURPOSE AND ALL OTHER WARRANTIES ARISING UNDER THE UNIFORM COMMERCIAL CODE (OR SIMILAR LAWS); (II) ANY
PROJECTIONS, ESTIMATES, PROSPECTS, FORECASTS, PLANS, AND BUDGET INFORMATION FURNISHED BY SELLER OR ITS REPRESENTATIVES (INCLUDING
THE REASONABLENESS OF THE ASSUMPTIONS UNDERLYING SUCH PROJECTIONS, ESTIMATES, PROSPECTS, FORECASTS, PLANS, AND BUDGET INFORMATION);
(III) THE OPERATION OF THE businessES of the company and its subsidiaries PRIOR
TO OR AFTER THE CLOSING; OR (IV) THE PROBABLE SUCCESS, PROFITABILITY OR PROSPECTS OF THE businessES
of the company and its subsidiaries AFTER THE CLOSING AND ANY SUCH REPRESENTATION OR WARRANTY IS HEREBY EXPRESSLY DISCLAIMED.

 

(b)              
NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, NONE OF SELLER OR ITS REPRESENTATIVES WILL HAVE, OR BE SUBJECT TO,
ANY LIABILITY OR INDEMNIFICATION OBLIGATION TO PURCHASER, THE COMPANY, ANY OF THEIR RESPECTIVE REPRESENTATIVES, OR ANY OTHER PERSON
RESULTING FROM THE DISTRIBUTION TO PURCHASER, THE COMPANY, OR ANY OF THEIR RESPECTIVE REPRESENTATIVES, OR PURCHASER’S, THE
COMPANY’S, OR ANY OF THEIR RESPECTIVE REPRESENTATIVES’ USE OF ANY INFORMATION RELATING TO THE COMPANY, ITS SUBSIDIARIES,
OR ANY OF THEIR RESPECTIVE BUSINESSES, INCLUDING ANY INFORMATION, DOCUMENTS, PROJECTIONS, ESTIMATES, PROSPECTS, FORECASTS, PLANS,
OR BUDGET INFORMATION (INCLUDING THE ASSUMPTIONS UNDERLYING SUCH PROJECTIONS, ESTIMATES, PROSPECTS, FORECASTS, PLANS, AND BUDGET
INFORMATION), DISCUSSION MATERIALS OR OTHER MATERIALS MADE AVAILABLE TO PURCHASER, THE COMPANY, OR ANY OF THEIR RESPECTIVE REPRESENTATIVES,
WHETHER ORALLY OR IN WRITING, ON DILIGENCE CALLS OR IN MEETINGS, IN RESPONSES TO QUESTIONS SUBMITTED ON BEHALF OF PURCHASER, THE
COMPANY, OR ANY OF THEIR RESPECTIVE REPRESENTATIVES OR IN ANY OTHER FORM IN CONNECTION WITH THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT AND THE OTHER TRANSACTION DOCUMENTS.

 

    	 	13	 

     

    

 

Article
IV

 

REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

Purchaser hereby represents and warrants to
the other parties hereto as follows:

 

Section
4.01 Organization, Authority and Qualification of Purchaser. Purchaser is a stock corporation (kabushiki kaisha)
duly organized, validly existing and in good standing (to the extent such concept is recognized) under the laws of Japan and has
all necessary corporate power and authority to enter into this Agreement and the other Transaction Documents to which it is a party,
to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution
and delivery by Purchaser of this Agreement and the other Transaction Documents to which it is a party, the performance by Purchaser
of its obligations hereunder and thereunder, and the consummation by Purchaser of the transactions contemplated hereby and thereby,
have been duly authorized by all requisite action on the part of Purchaser. This Agreement has been, and upon their execution,
the other Transaction Documents to which Purchaser is a party, will be, duly executed and delivered by Purchaser, and (assuming
due authorization, execution and delivery by the other parties thereto) this Agreement constitutes, and upon their execution, each
of the other Transaction Documents to which Purchaser is a party, will constitute, a legal, valid and binding obligation of Purchaser,
enforceable against Purchaser in accordance with their respective terms, subject to the effect of any applicable bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium or other similar Laws relating to, or affecting, creditors’ rights generally
and subject to the effect of general principles of equity (regardless of whether considered in a proceeding at law or in equity).

 

Section
4.02 No Conflict. Assuming that all consents, approvals, authorizations and other actions described in Section
4.03 have been obtained, all filings and notifications listed in Section 4.03 have been made, any applicable waiting
period has expired or been terminated, and except as may result from any facts or circumstances relating solely to Celanese, Seller
or any of their respective Affiliates, the execution, delivery and performance by Purchaser of this Agreement does not (a) violate,
conflict with, or result in the breach of any provision of the certificate of incorporation or by-laws (or similar organizational
documents) of Purchaser; (b) conflict with or violate any Law or Governmental Order applicable to Purchaser; or (c) conflict with,
result in any breach of, constitute a default (or an event which, with the giving of notice or lapse of time, or both, would become
a default) under, require any consent under, or give to others any rights of termination, acceleration or cancellation of, any
note, bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other instrument or arrangement
to which Purchaser or any of its Affiliates is a party except, in the case of clauses (b) and (c) above, as would
not materially and adversely affect the ability of Purchaser to carry out its obligations under, and to consummate the transactions
contemplated by, this Agreement.

 

Section
4.03 Governmental Consents and Approvals. The execution, delivery and performance by Purchaser of this Agreement
does not require any consent, approval, authorization or other order or declaration of, action by, filing with or notification
to, any Governmental Authority, other than (a) in connection with the Required Antitrust Clearances; (b) where the failure
to obtain such consent, approval, authorization or action, or to make such filing or notification, would not prevent or materially
delay the consummation by Purchaser of the transactions contemplated by this Agreement; or (c) consents, approvals, authorizations
or other orders or declarations of, actions by, filings with, or notifications to, any Governmental Authority as a result of any
facts or circumstances relating solely to Celanese, Seller or any of their respective Affiliates.

 

    	 	14	 

     

    

 

Section
4.04 Antisocial Forces. Neither Purchaser nor any of its Representatives is classified as, belongs to, or is associated
with, an Anti-Social Group, has an Anti-Social Relationship, or has engaged in Anti-Social Conduct, whether directly or indirectly
through a third party.

 

Article
V

 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company hereby represents and warrants
to the other parties hereto as follows:

 

Section
5.01 Organization, Authority and Qualification of the Company. The Company is a stock corporation (kabushiki kaisha)
duly organized, validly existing and in good standing (to the extent such concept is recognized) under the laws of Japan and has
all necessary corporate power and authority to enter into this Agreement and the other Transaction Documents to which it is a party,
to carry out its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution
and delivery by the Company of this Agreement and the other Transaction Documents to which it is a party, the performance by the
Company of its obligations hereunder and thereunder, and the consummation by the Company of the transactions contemplated hereby
and thereby, have been duly authorized by all requisite action on the part of the Company. This Agreement has been, and upon their
execution, the other Transaction Documents to which the Company is a party, will be, duly executed and delivered by the Company,
and (assuming due authorization, execution and delivery by the other parties thereto) this Agreement constitutes, and upon their
execution, each of the other Transaction Documents to which the Company is a party, will constitute, a legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with their respective terms, subject to the effect of
any applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other similar Laws relating to, or
affecting, creditors’ rights generally and subject to the effect of general principles of equity (regardless of whether considered
in a proceeding at law or in equity).

 

Section
5.02 No Conflict. Assuming that all consents, approvals, authorizations and other actions described in Section
5.03 have been obtained, all filings and notifications listed in Section 5.03 have been made, any applicable waiting
period has expired or been terminated, and except as may result from any facts or circumstances relating solely to Celanese, Seller,
Purchaser or any of their respective Affiliates, the execution, delivery and performance by the Company of this Agreement does
not (a) violate, conflict with, or result in the breach of any provision of the articles of incorporation or by-laws (or similar
organizational documents) of the Company; (b) conflict with or violate any Law or Governmental Order applicable to the Company;
or (c) conflict with, result in any breach of, constitute a default (or an event which, with the giving of notice or lapse of time,
or both, would become a default) under, require any consent under, or give to others any rights of termination, acceleration or
cancellation of, any note, bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other
instrument or arrangement to which the Company or any of its Affiliates is a party except, in the case of clauses (b) and
(c) above, as would not materially and adversely affect the ability of the Company to carry out its obligations under, and
to consummate the transactions contemplated by, this Agreement.

 

    	 	15	 

     

    

 

Section
5.03 Governmental Consents and Approvals. The execution, delivery and performance by the Company of this Agreement
does not require any consent, approval, authorization or other order or declaration of, action by, filing with or notification
to, any Governmental Authority, other than (a) in connection with the Required Antitrust Clearances; (b) where the failure
to obtain such consent, approval, authorization or action, or to make such filing or notification, would not prevent or materially
delay the consummation by the Company of the transactions contemplated by this Agreement; or (c) consents, approvals, authorizations
or other orders or declarations of, actions by, filings with, or notifications to, any Governmental Authority as a result of any
facts or circumstances relating solely to Celanese, Seller, Purchaser, or any of their respective Affiliates.

 

Section
5.04 Antisocial Forces. Neither the Company nor any of its Representatives is classified as, belongs to, or is associated
with, an Anti-Social Group, has an Anti-Social Relationship, or has engaged in Anti-Social Conduct, whether directly or indirectly
through a third party.

 

Article
VI

 

ADDITIONAL AGREEMENTS

 

Section
6.01 Conduct of Business prior to the Closing. From the date of this Agreement and until the earlier of the Closing
Date and the date on which this Agreement is terminated pursuant to Section 9.01, except as expressly required by this
Agreement or applicable Law, or as the parties hereto shall otherwise consent to in writing (which consent shall not be unreasonably
withheld, conditioned or delayed), the Company shall, and shall cause its Representatives to, and Seller and Purchaser shall use
commercially reasonable best efforts to direct the Company to, conduct the businesses of the Company and its Subsidiaries in the
ordinary course in all material respects (it being agreed that any capital expenditures made in amounts consistent with past practice
shall be deemed to be made in the ordinary course), including by not taking any action (other than conducting the business of the
Company and its Subsidiaries in the ordinary course in all material respects) that would adversely affect the ability of the Company
to pay dividends in accordance with this Agreement.

 

    	 	16	 

     

    

 

Section
6.02 Efforts; Filings.

 

(a)              
Each of the parties hereto shall use its commercially reasonable best efforts to obtain all authorizations, consents,
Governmental Orders and approvals of all Governmental Authorities and officials that may be or become necessary for its execution
and delivery of, and the performance of its obligations pursuant to, this Agreement and the other Transaction Documents and shall
cooperate fully with the other parties hereto in promptly seeking to obtain all such authorizations, consents, Governmental Orders
and approvals. Each party hereto agrees to (i) promptly make, or cause to be made, the appropriate filings and notifications in
connection with the Required Antitrust Clearances and with respect to the transactions contemplated by this Agreement; and (ii)
supply as promptly as practicable to the appropriate Governmental Authorities any additional information and documentary material
that may be requested by such Governmental Authorities in connection with the Required Antitrust Clearances or with respect to
the transactions contemplated by this Agreement and the other Transaction Documents. All filing fees and payments to any Governmental
Authority in order to obtain any authorizations, consents, Governmental Orders or approvals pursuant to this Section 6.02
shall be borne equally by Purchaser and Seller.

 

(b)              
The parties hereto agree to coordinate, cooperate and assist one another in connection with all actions to be taken
pursuant to Section 6.02(a), including the preparation and making of the filings and notifications referred to therein and,
if requested, amending or furnishing additional information hereunder, including, subject to applicable Law, providing copies of
all related documents to the non-filing parties’ outside legal counsel prior to filing; provided, that such material
may be redacted as necessary to (i) comply with contractual arrangements; (ii) address good faith legal privilege or confidentiality
concerns; (iii) comply with applicable Law; and (iv) remove references concerning the valuation of the Company, and, to the extent
practicable, none of the parties hereto shall file any such document or have any material communication with any Governmental Authority
without prior consultation with the other parties hereto. To the extent that any Governmental Authority raises any objection or
proposes any condition or other restriction on the business of any party hereto or any of its Affiliates in connection with a Required
Antitrust Clearance, the parties hereto shall (x) use their commercially reasonable best efforts to resolve such objection (including
by revising applicable Transaction Documents) or remove or modify such condition or restriction to enable the Closing to occur
prior to the Termination Date and (y) cooperate in good faith in connection therewith. Each party hereto shall keep the other parties
apprised of the content and status of any material communications with, and communications from, any Governmental Authority with
respect to the transactions contemplated by this Agreement. To the extent permitted by a Governmental Authority, each party hereto
shall permit Representatives of the other parties hereto to participate in any material meetings and discussions with any such
Governmental Authority. Notwithstanding the foregoing, in no event shall this Section 6.02(b) require Purchaser or the Company
or any Subsidiary or Affiliate thereof to take any action that is reasonably expected to materially and adversely affect Purchaser,
the Company and their respective Subsidiaries (taken as a whole) following the consummation of the transactions contemplated by
this Agreement. Notwithstanding anything herein to the contrary, Purchaser and the Company shall be responsible for, and indemnify
each of Celanese and Seller against, any out-of-pocket Losses incurred by them resulting directly from the failure by Purchaser
to obtain, receive or honor any consents, authorizations, orders, approvals, decisions, expiration or termination of waiting periods,
or declarations required under the antitrust, competition or other similar Laws of any jurisdiction other than those identified
in Schedule 1.01(b) in connection with this Agreement and transactions contemplated hereby.

 

    	 	17	 

     

    

 

(c)              
 Notwithstanding anything in this Agreement to the contrary, nothing contained in this Agreement shall be deemed
to require Purchaser or the Company or any Subsidiary or Affiliate thereof to agree to any Divestiture (as defined below). Neither
Seller nor Celanese shall, without the prior written consent of Purchaser, implement or agree to implement any Divestiture. For
purposes of this Agreement, a “Divestiture” means any license, sale or other disposition or holding separate
(through establishment of a trust or otherwise) of any shares of capital stock or of any business, assets or properties of Purchaser
or the Company or any Subsidiary or Affiliate of Purchaser or the Company, in each case, that is reasonably expected to materially
and adversely affect Purchaser or the Company following the consummation of the transactions contemplated by this Agreement.

 

Section
6.03 Terminated Agreements; Surviving Agreements.

 

(a)              
The parties hereto shall, and shall cause their Affiliates to, terminate the Terminated Agreements (to the extent
they have not been terminated or expired prior to the Closing) effective as of the Closing (except for the payment obligations
set forth on Schedule 6.03(a) (the “Surviving Payment Obligations”)) pursuant to an omnibus termination
agreement to be executed at the Closing by each of the parties to the Terminated Agreements (the “Omnibus Termination
Agreement”).

 

(b)              
The parties hereto hereby acknowledge and agree that each of the Surviving Agreements shall survive the Closing and
continue in full force and effect in accordance with their respective terms; provided, that the parties hereto shall, and
shall cause their respective Affiliates to, amend the Supply Agreements at the Closing so that the supply arrangements thereunder
will survive the Closing only to the extent necessary to consummate the transactions contemplated by the Malaysian Confirmation
and the Confidential Settlement Agreement and Release, effective October 8, 2019, between Celanese and the Company and solely until
such time as such transactions are complete (such amendments, the “Supply Agreement Amendments”).

 

Section
6.04 Further Action. Except as otherwise provided in this Agreement, the parties hereto shall, and shall cause their
respective Affiliates to, use commercially reasonable best efforts to take, or cause to be taken, and shall otherwise reasonably
cooperate with one another to the extent necessary to ensure that all appropriate action, to do, or cause to be done, all things
necessary, proper or advisable under applicable Law to execute and deliver such documents and other papers as may be required to
carry out the provisions of this Agreement and the other Transaction Documents and to consummate and make effective the transactions
contemplated by this Agreement and the other Transaction Documents. From time to time after the date hereof, without additional
consideration, each party hereto shall, and shall cause its Affiliates to, execute and deliver such further instruments and take
such other action as may be necessary or is reasonably requested by the other parties hereto to make effective the transactions
contemplated by this Agreement and the other Transaction Documents.

 

    	 	18	 

     

    

 

Section
6.05 Tax Matters.

 

(a)              
Each party hereto shall bear any and all sales, documentary, use, value added, transfer, stamp, stock transfer, registration,
and real property transfer or gains and similar Taxes that may be imposed upon, or payable or collectible or incurred by, such
party in connection with this Agreement and the transactions contemplated hereby. The party that is required to pay such Taxes
shall timely pay such taxes to the appropriate Governmental Authority, and the other party shall cooperate in the execution and
delivery of all instruments and certificates necessary to enable the appropriate party to comply with any filing requirements pursuant
to this Section 6.05(a).

 

(b)              
Purchaser and Seller agree to cooperate in the execution and delivery of all instruments and certificates necessary
to enable Purchaser to comply with any pre-Closing filing requirements, including value added tax invoices.

 

(c)              
The Company hereby represents that as of the date of this Agreement, the value of real property of the Company that
is located in Japan represents less than 50% of value of the Company’s assets. Based on the foregoing representation, Purchaser
and Seller agree that the transfer of the Shares by Seller are not subject to Japanese Taxes and Purchaser will not withhold any
such Taxes from any amount due to Seller pursuant to this Agreement.

 

(d)              
Each of Purchaser and Seller shall provide or cause to be provided, and continue to provide or cause to be provided
post-Closing, to the other party such documentation and information as either of them reasonably may request for Tax purposes in
relation to the transaction contemplated by the Transaction Documents or the ownership of the Company; provided that Seller
shall not be required to provide any Seller Tax returns. The requesting party shall reimburse the party to whom such request is
made for any costs and expenses incurred by such party in order to satisfy such request. Each of Purchaser and Seller shall retain
all Tax returns, schedules, work papers and other material records and documents relating to Tax matters of the Company and its
Subsidiaries until the later of (i) the expiration of the statute of limitations for the Tax periods to which the Tax returns or
other documents relate and (ii) with respect to Tax returns, five (5) years following the due date (without extension) for such
Tax returns.

 

    	 	19	 

     

    

 

Section
6.06 Mutual Releases.

 

(a)              
Each of Celanese and Seller, on its own behalf and on behalf of its Representatives, successors and assigns (the
 “Seller Released Parties”), hereby, effective as of the Closing, generally, irrevocably, unconditionally and
completely waives and releases and forever discharges the Company, the Company’s Subsidiaries, Purchaser and each of their
respective Representatives, successors and assigns (the “Purchaser Released Parties”) of and from all demands,
actions, causes of action, suits, accounts, covenants, contracts, agreements, damages, claims and other Liabilities whatsoever
of every name and nature, both at law and in equity, whether arising directly or indirectly from any act or omission, whether intentional
or unintentional (i) arising under, relating to, or resulting from (x) the Company Organizational Documents; or (y) the Terminated
Agreements; or (ii) otherwise arising out of, relating to, or resulting from, (x) the Company or any of its Subsidiaries or their
respective businesses, (y) Purchaser’s ownership of the Company; or (z) a Purchaser Released Party acting as a director,
officer, contractor, consultant, employee, agent or advisor of the Company or any of its Subsidiaries prior to the Closing (collectively,
the “Seller Released Liabilities”); provided, that this release shall not affect the Surviving Payment
Obligations, the Surviving Agreements, or the Purchaser Released Parties’ and their respective Affiliates’ rights and
obligations under the Transaction Documents. Each of Celanese and Seller shall not, and shall ensure that the Seller Released Parties
do not, commence any Action asserting any claim or demand, including any claim of contribution or indemnification, against any
Purchaser Released Party with respect to the Seller Released Liabilities. Seller shall reimburse Purchaser or the Company or any
other Purchaser Released Party for any reasonable and documented out-of-pocket costs and expenses, including attorneys’ fees,
incurred by them as a result of any breach of this clause (a) by the Seller Released Parties.

 

(b)              
Each of Purchaser and the Company, on its own behalf and on behalf of its respective Representatives, successors
and assigns, hereby, effective as of the Closing, generally, irrevocably, unconditionally and completely waives and releases and
forever discharges the Seller Released Parties of and from all demands, actions, causes of action, suits, accounts, covenants,
contracts, agreements, damages, claims and other Liabilities whatsoever of every name and nature, both at law and in equity, whether
arising directly or indirectly from any act or omission, whether intentional or unintentional (i) arising under, relating to, or
resulting from, (x) the Company Organizational Documents or any other organizational document of the Company or any of its Subsidiaries;
or (y) the Terminated Agreements; or (ii) otherwise arising out of, relating to, or resulting from, (x) the Company or any of its
Subsidiaries or their respective businesses, (y) Seller’s ownership of the Company; or (z) a Seller Released Party acting
as a director, officer, contractor, consultant, employee, agent or advisor of the Company or any of its Subsidiaries prior to the
Closing (collectively, the “Purchaser Released Liabilities”); provided, that this release shall not affect
the Surviving Payment Obligations, the Surviving Agreements, or the Seller Released Parties’ and their respective Affiliates’
rights and obligations under the Transaction Documents. Each of Purchaser and the Company shall not, and shall ensure that the
Purchaser Released Parties do not, commence any Action asserting any claim or demand, including any claim of contribution or indemnification,
against any Seller Released Party with respect to the Purchaser Released Liabilities. Purchaser and the Company shall reimburse
Celanese or Seller or any other Seller Released Party for any reasonable and documented out-of-pocket costs and expenses, including
attorneys’ fees, incurred by them as a result of any breach of this clause (b) by the Purchaser Released Parties.

 

    	 	20	 

     

    

 

(c)              
Following the Closing, Seller and Purchaser agree to discuss, in their respective sole discretion, any potential
changes to Ticona’s right under Article 4.1(a)(iv) of that certain Joint Venture Agreement, among the Company, Mitsubishi
Gas Chemical Company, Inc., Korea Engineering Plastics Co., Ltd., Ticona and PTM Holdings, Inc., dated as of September 4, 2002,
to appoint one (1) director among the directors appointed by the Company under such agreement.

 

(d)              
Notwithstanding anything herein to the contrary, this Section 6.06 shall have no force and effect if the Closing
does not occur or if this Agreement is terminated pursuant to Section 9.01.

 

Section
6.07 Director and Officer Liability and Indemnification.

 

(a)              
All rights to indemnification and exculpation from Liabilities for acts or omissions occurring at or prior to the
Closing (and rights to advancement of expenses) existing as of the date hereof in favor of any Person appointed by Seller or any
of its Affiliates, or otherwise employed by Seller or any of its Affiliates, who is, or has been at any time prior to the date
of this Agreement, a director or officer of the Company or any of its Subsidiaries (each, a “D&O Indemnified Party”)
as provided in the Company Organizational Documents or any director and officer insurance policy covering the D&O Indemnified
Parties that is in effect as of the date hereof shall, following the Closing: (i) continue in full force and effect in accordance
with their terms with respect to any claims against any such D&O Indemnified Party arising out of such acts or omissions and
for a period of six years following the date of this Agreement, and (ii) not be amended, repealed or otherwise modified in any
manner that would adversely affect any right thereunder of any such D&O Indemnified Party. From and after the Closing, Purchaser
shall cause the Company and its Subsidiaries, and the Company shall cause its Subsidiaries, to comply with and honor all obligations
under this Section 6.07.

 

(b)              
In the event that, after the Closing, (i) the Company or any of its successors or assigns, (x) consolidates with
or merges into any other Person and is not the continuing or surviving corporation or entity of such consolidation or merger; or
(y) transfers or conveys all or a substantial portion of its properties and other assets to any Person; or (ii) Purchaser or any
of its successors or assigns dissolves the Company, then, and in each such case, each of Purchaser and the Company shall cause
proper provision to be made so that the applicable successors and assigns or transferees expressly assume the obligations set forth
in this Section 6.07.

 

Section
6.08 Payment of Dividends. At or prior to the Closing, except as otherwise agreed by Seller and Purchaser, and to
the extent permitted under applicable Law, the Company shall, and Seller and Purchaser shall cause the Company to (including by
approving shareholder resolutions of the Company to), declare and pay to each of Seller and Purchaser (a) all annual, interim,
and special dividends as provided by the Shareholders Agreement; and (b) the Stub Dividend.

 

    	 	21	 

     

    

 

Section
6.09 Release from Credit Support Instruments. Each of Purchaser and the Company shall, and shall cause its Affiliates
to, use their commercially reasonable best efforts, and Seller and its Affiliates shall cooperate as reasonably necessary, to take
or cause to be taken all actions necessary (including such actions as reasonably requested by Seller) to secure the prompt unconditional
release of Seller and any of its Affiliates from all of the guarantees or credit support instruments of the Company or any of its
Subsidiaries in existence as of the Closing Date to which Seller or any of its Affiliates is a party (the “Credit Support
Instruments”). All reasonable costs and expenses incurred in connection with the release or substitution of Credit Support
Instruments shall be borne by Purchaser or the Company. From and after the Closing, Purchaser or the Company shall indemnify Seller
and its Affiliates for any and all Losses that such Persons incur arising from or relating to the Credit Support Instruments.

 

Section
6.10 Books and Records.

 

(a)              
Seller agrees that all available books and records that are retained by Seller or its Affiliates relating to the
business of the Company prior to the Closing shall be open for inspection by Representatives of Purchaser upon reasonable notice
at any time during regular business hours for a period of seven (7) years (or such shorter period that has been provided in applicable
record retention policies) from the Closing and that Purchaser may during such period at its expense make such copies or excerpts
therefrom as Purchaser may reasonably request; provided, that such inspection and making of copies or excerpts shall only
be permitted hereunder to the extent reasonably requested by Purchaser for the purposes of preparing financial statements, compliance
with applicable Laws or in connection with any Action; provided, further, that neither Seller nor any of its Affiliates
shall be required to permit such inspection or making of copies or excerpts where, upon the advice of counsel, such action would
jeopardize attorney-client privilege or contravene any Law or contract to which Seller or any of its Affiliates is bound.

 

(b)              
Each of Purchaser and the Company agrees that all available books and records that are retained by Purchaser, the
Company or any of their respective Affiliates relating to the business of the Company prior to the Closing shall be open for inspection
by Representatives of Seller upon reasonable notice at any time during regular business hours for a period of seven (7) years (or
such shorter period that has been provided in applicable record retention policies) from the Closing and that Seller may during
such period at its expense make such copies or excerpts therefrom as Seller may reasonably request; provided, that such
inspection and making of copies or excerpts shall only be permitted hereunder to the extent reasonably requested by Seller for
the purposes of preparing financial statements, compliance with applicable Laws or in connection with any Action; provided,
further, that neither Purchaser or the Company, nor any of their respective Affiliates shall be required to permit such
inspection or making of copies or excerpts where, upon the advice of counsel, such action would jeopardize attorney-client privilege
or contravene any Law or contract to which Purchaser, the Company, or any of their respective Affiliates is bound.

 

    	 	22	 

     

    

 

(c)              
Notwithstanding the foregoing, the inspection and information rights of the parties hereto with respect to Tax matters
shall be governed solely by Section 6.05(d).

 

Section
6.11 Nonencumbrance. From the date of this Agreement until the Closing or termination of this Agreement, Celanese
and Seller shall not, and shall ensure that their respective Affiliates do not, pledge any of the Shares or cause or permit any
of the Shares to become subject to any Encumbrances.

 

Section
6.12 Guarantee. As a condition and inducement to Purchaser’s willingness to enter into this Agreement, Celanese
hereby unconditionally and irrevocably agrees to guarantee the full and complete performance by Seller of all of the terms, covenants
and obligations of Seller contained in this Agreement. The obligations of Celanese under this Section 6.12 shall constitute
a present and continuing guarantee of payment and not of collectability only, shall be absolute and unconditional and shall not
be subject to any counterclaim, setoff, deduction or defense Celanese may have against Seller or any other Person (other than Purchaser
and the Company, as to which Celanese shall have the same defenses, if any, as Seller may have against Purchaser and the Company).

 

Article
VII

 

CONDITIONS TO CLOSING

 

Section
7.01 Conditions to Obligations of Celanese and Seller. The obligations of Celanese and Seller to consummate the transactions
contemplated by this Agreement shall be subject to the fulfillment or written waiver, at or prior to the Closing, of each of the
following conditions.

 

(a)              
Representations, Warranties and Covenants. (i) The representations and warranties of Purchaser contained in Article
IV shall be true and correct in all material respects as though such representations and warranties
had been made on and as of the Closing Date; (ii) each of the covenants and agreements contained in this Agreement to be
complied with by Purchaser or the Company on or prior to the Closing shall have been complied with in all material respects; and
(iii) Seller shall have received a certificate of Purchaser signed by a duly authorized representative thereof dated as of the
Closing Date certifying the matters set forth in clauses (i) and (ii) above;

 

(b)              
Governmental Approvals. The Required Antitrust Clearances shall have been obtained;

 

(c)              
No Order. There shall not be in effect any Governmental Order issued by a Governmental Authority of competent jurisdiction
in any of the jurisdictions identified on Schedule 7.01(c) that enjoins the consummation of the sale and purchase of the
Shares contemplated by this Agreement; and

 

    	 	23	 

     

    

 

(d)              
No Restraint. There shall not be enacted any Law that prohibits the sale and purchase of the Shares contemplated
by this Agreement.

 

Section
7.02 Conditions to Obligations of Purchaser. The obligations of Purchaser to consummate the transactions contemplated
by this Agreement shall be subject to the fulfillment or written waiver, at or prior to the Closing, of each of the following conditions.

 

(a)              
Representations, Warranties and Covenants. (i) The representations and warranties of Seller and Celanese contained
in Article III shall be true and correct in all material respects as though such representations
and warranties had been made on and as of the Closing Date; (ii) each of the covenants and agreements contained in this
Agreement to be complied with by Seller on or prior to the Closing shall have been complied with in all material respects; and
(iii) Purchaser shall have received a certificate of Seller signed by a duly authorized representative thereof dated as of the
Closing Date certifying the matters set forth in clauses (i) and (ii) above;

 

(b)              
Governmental Approvals. The Required Antitrust Clearances shall have been obtained;

 

(c)              
No Order. There shall not be in effect any Governmental Order issued by a Governmental Authority of competent
jurisdiction in any of the jurisdictions identified on Schedule 7.01(c) that enjoins the consummation of the sale and purchase
of the Shares contemplated by this Agreement;

 

(d)              
No Restraint. There shall not be enacted any Law that prohibits the sale and purchase of the Shares contemplated
by this Agreement; and

 

(e)              
No Material Adverse Effect. Since the date of this Agreement, no Material Adverse Effect shall have occurred.

 

Article
VIII

 

INDEMNIFICATION

 

Section
8.01 Survival of Representations, Warranties and Covenants. (a) The representations and warranties of the parties
hereto contained in this Agreement or in any certificates delivered pursuant to this Agreement shall survive the Closing for a
period of twelve (12) months after the Closing (provided, that the representations and warranties of Seller in Section
3.04 (Title to the Shares) shall survive the Closing indefinitely); and (b) the covenants and agreements contained
in this Agreement shall survive the Closing and shall continue until all obligations with respect thereto shall have been performed
or satisfied or shall have expired or been terminated in accordance with their terms; provided, however, that any
claim made with reasonable specificity by the party seeking to be indemnified within the time periods set forth in this Section 8.01
shall survive until such claim is finally resolved; provided, further, that the time period set forth in Section 8.01(a)
shall not apply in the case of fraud.

 

    	 	24	 

     

    

 

Section
8.02 Indemnification by Celanese and Seller. From and after the Closing, Celanese and Seller shall indemnify and
hold harmless Purchaser and the Company and their respective Representatives, in each case, from and against any and all losses,
obligations, Liabilities, damages, awards, judgments, claims, interest, settlement payments, judgments, fines, penalties, assessments,
Taxes, deficiencies and expenses (including any attorneys’ fees) (collectively, “Losses”) incurred or
suffered by them, to the extent arising out of, related to, or resulting from, (a) the breach of or inaccuracy in any of the respective
representations and warranties of Celanese or Seller contained in this Agreement or any certificate delivered pursuant to this
Agreement; or (b) the breach of any of the respective covenants or agreements of Celanese or Seller contained in this Agreement.

 

Section
8.03 Indemnification by Purchaser and the Company. From and after the Closing, each of Purchaser and the Company
shall indemnify and hold harmless Celanese and Seller and their respective Representatives, in each case, from and against any
and all Losses incurred or suffered by them, to the extent arising out of, related to, or resulting from, (a) the breach of or
inaccuracy in any of the respective representations and warranties of Purchaser or the Company contained in this Agreement or any
certificate delivered pursuant to this Agreement; (b) the breach of any of the respective covenants or agreements of Purchaser
or the Company contained in this Agreement; (c) any claims made by third parties against Seller, Celanese or any of their respective
Affiliates related to the operation or conduct of the business and activities of the Company and its Subsidiaries from and after
the Closing, in each case to the extent such Losses result from Seller’s ownership of the Shares prior to the Closing; (d)
Pre-Closing Environmental Liabilities; and (e) Pre-Closing Product Liabilities.

 

Section
8.04 Notice of Loss; Third Party Claims. As promptly as practicable after making such determination with respect
to any such matter, an Indemnified Party shall give the Indemnifying Party notice of any matter that an Indemnified Party has determined
has given or would reasonably be expected to give rise to a right of indemnification under this Agreement; provided, however,
that the failure to provide such notice shall not release the Indemnifying Party from any of its obligations under this Article
VIII, except to the extent that the Indemnifying Party is actually and materially prejudiced by such failure. If an Indemnified
Party shall receive notice of any Action, demand or assessment from a third party (each, a “Third Party Claim”)
against it or which may give rise to a claim for indemnification under this Article VIII, within thirty (30) days of the
receipt of such notice, the Indemnified Party shall give the Indemnifying Party notice of such Third Party Claim; provided,
however, that the failure to provide such notice shall not release the Indemnifying Party from any of its obligations under
this Article VIII, except to the extent that the Indemnifying Party is actually and materially prejudiced by such failure.
The Indemnifying Party shall be entitled to assume and control the defense of such Third Party Claim at its expense and (after
consultation with the Indemnified Party) through counsel of its choice if it gives notice of its intention to do so to the Indemnified
Party within thirty (30) days of the receipt of notice from the Indemnified Party of such Third Party Claim, and, in such cases,
if the Indemnified Party desires to participate in any such defense, notwithstanding anything contained herein, it may do so at
its sole cost and expense, and the Indemnifying Party shall not be liable to the Indemnified Party for legal expenses incurred
by the Indemnified Party in connection with such participation (it being understood, however, that the Indemnifying Party shall
control such defense). If the Indemnified Party shall have been advised by counsel that there are actual or potential conflicting
interests between the Indemnifying Party and the Indemnified Party that would make it inappropriate for the same counsel to represent
both the Indemnified Party and the Indemnifying Party with respect to such Third Party Claim, then the Indemnified Party shall
be entitled to retain its own counsel at the expense of the Indemnifying Party. Notwithstanding the foregoing, the Indemnifying
Party shall not be entitled to assume the defense of any Third Party Claim (but the fees and expenses of counsel incurred by the
Indemnified Party in defending such Third Party Claim shall nonetheless be considered Losses for purposes of this Agreement) if
the Third Party Claim (i) seeks an order, injunction, equitable relief or other relief other than money damages against the Indemnified
Party that cannot reasonably be separated from any related claim for money damages; (ii) involves a Governmental Authority; or
(iii) relates to, or arises out of, any criminal action. In the event that the Indemnifying Party exercises the right to undertake
any such defense against any such Third Party Claim as provided above, (x) the Indemnified Party shall be kept apprised of all
material developments and may participate in such defense; (y) the Indemnifying Party shall not withdraw from the defense of such
Third Party Claim without providing advance notice to the Indemnified Party reasonably sufficient to allow the Indemnified Party
to prepare to reassume the defense of such Third Party Claim; and (z) the Indemnifying Party shall conduct the defense of the Third
Party Claim actively and diligently, including (subject to the limitations on indemnification in this Agreement) the posting of
bonds or other security required in connection with the defense of such Third Party Claim. If the Indemnifying Party fails to actively
and diligently prosecute the Third Party Claim (including by withdrawing or threatening to withdraw from the defense thereof),
then the Indemnified Party shall have the right to defend against the Third Party Claim at the sole cost and expense of the Indemnifying
Party, with counsel of the Indemnified Party’s choosing. The Indemnifying Party shall not admit any liability with respect
to, or settle, compromise or discharge, any Third Party Claim without the Indemnified Party’s prior written consent; provided,
that, the Indemnified Party shall agree to any settlement or compromise of any claim or demand that the Indemnifying Party may
recommend (A) that provides for a full and unconditional release of the Indemnified Party in respect of such claim or demand, (B)
that does not impose injunctive or other equitable relief against the Indemnified Party or a finding or admission of any responsibility
or guilt of the Indemnified Party, (C) if the Indemnifying Party has agreed in writing that such Third Party Claim is the subject
of indemnity hereunder; and (D) for which the outcome of such settlement or compromise would reasonably be expected to not materially
and adversely affect the ability of the Indemnified Party or its Affiliates to conduct their respective businesses or any of their
reputation or relationship with material suppliers or customers. The Indemnified Party shall not admit any liability with respect
to, or settle, compromise or discharge, any Third Party Claim without the Indemnifying Party’s prior written consent (not
to be unreasonably withheld, delayed or conditioned).

 

    	 	25	 

     

    

 

Section
8.05 Remedies. Each of the parties hereto acknowledges and agrees that, following the Closing, (a) the rights and
remedies set forth in this Article VIII shall be the sole and exclusive remedies of the parties hereto for any breach of
the representations and warranties contained in this Agreement and for any failure to perform and comply with any covenant or agreement
in this Agreement, (b) any and all claims arising out of, relating to, or resulting from, the transactions contemplated in this
Agreement must be brought under and in accordance with the terms of this Agreement, and (c) notwithstanding anything herein to
the contrary, no breach of any representation, warranty, covenant or agreement contained in this Agreement shall give rise to any
right on the part of any party hereto, after the consummation of the transactions contemplated by this Agreement, to rescind this
Agreement or any of the transactions contemplated hereby. Each party hereto shall cause its Affiliates to comply with this Section
8.05.

 

Article
IX

 

TERMINATION

 

Section
9.01 Termination. This Agreement may be terminated at any time prior to the Closing:

 

(a)              
by Seller or Purchaser if the Closing shall not have occurred by July 20, 2021 (the “Termination Date”);
provided, that if the conditions set forth in Section 7.01(b) and Section 7.02(b) shall not have been satisfied
or waived by the Termination Date, but all other conditions to the Closing (other than those conditions that by their terms are
to be satisfied at the Closing) have been satisfied, then Seller or Purchaser may extend the Termination Date to the closing of
business New York time three (3) months after the Termination Date by giving written notice of such extension to the other parties
hereto; provided, further, that the right to terminate this Agreement under this Section 9.01(a) shall not
be available to Seller or Purchaser, as the case may be, if its failure to fulfill any obligation under this Agreement shall have
been the cause of, or shall have resulted in, the failure of the Closing to occur on or prior to such date;

 

(b)              
by Seller or Purchaser in the event that any Governmental Authority of competent jurisdiction in any of the jurisdictions
identified on Schedule 7.01(c) shall have issued a Governmental Order that permanently enjoins the sale and purchase of
the Shares contemplated by this Agreement and such Governmental Order shall have become final and non-appealable; provided,
however, that the right to terminate this Agreement under this Section 9.01(b) shall not be available to any party
hereto whose failure to fulfill any obligation under this Agreement has been the cause of, or has resulted in, the issuance of
such Governmental Order; or

 

(c)              
by the written consent of all of the parties hereto.

 

    	 	26	 

     

    

 

Section
9.02 Effect of Termination. In the event of the termination of this Agreement as provided in Section 9.01,
written notice thereof shall be given to the other parties hereto, specifying the provision or provisions hereof pursuant to which
such termination shall have been made, and, subject to the remainder of this Section 9.02, this Agreement shall forthwith
become void and there shall be no liability under this Agreement on the part of any party hereto or any of their respective Representatives;
provided, that (a) this Section 9.02 and Article X shall survive any termination and shall remain in full
force and effect; and (b) nothing herein shall relieve any party hereto from liability for fraud committed prior to such termination
or liability for any intentional breach of this Agreement occurring prior to such termination.

 

Article
X

 

GENERAL PROVISIONS

 

Section
10.01 Expenses. Except as otherwise specified in this Agreement, all costs and expenses, including fees and disbursements
of counsel, financial and other advisors and accountants, incurred in connection with this Agreement and the transactions contemplated
by this Agreement shall be borne by the party incurring such costs and expenses, whether or not the Closing shall have occurred.

 

Section
10.02 Notices. All notices, requests, claims, demands and other communications under this Agreement shall be in writing
and shall be given or made and shall be deemed to have been duly given or made (a) upon receipt by delivery in person, (b) three
(3) days after dispatch by an internationally recognized overnight courier service, (c) upon receipt by the intended recipient
in readable form if sent by electronic mail (with a confirmatory copy sent by an internationally recognized overnight courier service)
or (d) upon receipt by facsimile (with a confirmatory copy sent by an internationally recognized overnight courier service) to
the respective parties hereto at the following addresses (or at such other address for a party hereto as shall be specified in
a notice given in accordance with this Section 10.02):

 

(i)                
if to Seller and Celanese:

 

Celanese Sales Netherlands B.V.

The Atrium

Strawinskylaan 3105

1077 ZX Amsterdam

The Netherlands

	 	Email: 	martin.fischer@celanese.com
	 	Attention:	Deputy General Counsel, EMEA

 

and

 

Celanese Corporation

222 W. Las Colinas Blvd., Suite 900N

Irving, Texas 75039

	 	Email: 	lynne.puckett@celanese.com
	 	Attention:	General Counsel

 

    	 	27	 

     

    

 

with a copy to (which shall not constitute notice):

 

Shearman & Sterling LLP

599 Lexington Avenue

New York, New York 10022-6069

	 	Facsimile: 	(212) 848-7179
	 	Email: 	george.casey@shearman.com
	 	 	hschiwek@shearman.com
	 	Attention: 	George A. Casey, Esq.
	 	 	Heiko Schiwek, Esq.

 

(ii)             
if to Purchaser:

 

Daicel Corporation

JR Shinagawa East Bldg.

2-18-1, Konan, Minato-ku, Tokyo

108-8230 Japan

	 	Facsimile:	+81-3-6711-8100
	 	Email: 	ic_hayashi@jp.daicel.com; and
	 	 	tm_yamane@jp.daicel.com
	 	Attention:	Ichiro Hayashi; and
	 	 	Tomohiro Yamane

 

with a copy to (which shall not constitute notice):

 

Orrick, Herrington & Sutcliffe LLP

Izumi Garden Tower 28F

1-6-1, Roppongi, Minato-ku, Tokyo

 

106-6028 Japan

	 	Facsimile:	+81-3-3224-2901
	 	Email: 	hsugita@orrick.com
	 	 	rsmith@orrick.com
	 	Attention:	Hiroki Sugita
	 	 	Richard Smith

 

(iii)           
if to the Company:

 

Polyplastics Company, Ltd.

Legal Dept.

JR Shinagawa East Building,

Konan 2-chome, Minato-ku, Tokyo, Japan

	 	Facsimile:	+81-3-6711-8606
	 	Email: 	sonoko.takahashi@polyplastics.com
	 	Attention:	Sonoko Takahashi

 

    	 	28	 

     

    

 

with a copy to (which shall not constitute notice):

 

Hughes Hubbard & Reed LLP

One Battery Park Plaza, 15th Floor

New York, New York 10004-1482

	 	Facsimile:	(212) 299-6872
	 	Email: 	seth.rothman@hugheshubbard.com
	 	Attention:	Seth D. Rothman

 

Section
10.03 Public Announcements. None of the parties to this Agreement shall make, or cause to be made, any press release
or public announcement in respect of this Agreement, the other Transaction Documents or the transactions contemplated hereby and
thereby or otherwise communicate with any news media or disclose information to any other Person regarding this Agreement, the
other Transaction Documents or the transactions contemplated hereby and thereby without the prior written consent of the other
parties hereto, unless such press release or public announcement is required by applicable Law or stock exchange regulation, in
which case the parties hereto shall, to the extent practicable, consult with each other as to the timing and contents of any such
press release, public announcement or communication; provided, however, that the prior written consent of the other
parties hereto shall not be required hereunder with respect to any press release, public announcement or communication that is
substantially similar to a press release, public announcement or communication previously issued with the prior written consent
of such other parties.

 

Section
10.04 Severability. If any term or other provision of this Agreement is declared invalid, illegal or incapable of
being enforced by any Governmental Authority, all other terms and provisions of this Agreement shall nevertheless remain in full
force and effect for so long as the economic or legal substance of the transactions contemplated by this Agreement is not affected
in any manner materially adverse to any party hereto. Upon such determination that any term or other provision is invalid, illegal
or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original
intent of the parties hereto as closely as possible in a mutually acceptable manner in order that the transactions contemplated
by this Agreement are consummated as originally contemplated to the greatest extent possible.

 

Section
10.05 Entire Agreement. This Agreement, the other Transaction Documents and the Confidentiality Agreement constitute
the entire agreement of the parties hereto with respect to the subject matter hereof and thereof and supersede all prior agreements
and undertakings, both written and oral, among the parties hereto with respect to the subject matter hereof and thereof.

 

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Section
10.06 Assignment. This Agreement and the rights and obligations hereunder may not be assigned by operation of law
or otherwise without the express written consent of the parties hereto (which consent may be granted or withheld in the sole discretion
of each such party), as the case may be, and any attempted assignment that is not in accordance with this Section 10.06
shall be null and void; provided, however, that any party hereto may assign, delegate or otherwise transfer (including
by operation of law) any of its rights or obligations under this Agreement without the prior written consent of the other parties
hereto to any of such party’s Affiliates; provided, that, in cases of any such assignment, delegation or transfer
by such party, such party shall remain liable for, and shall not be released from, its liabilities and obligations hereunder (except
to the extent the other parties hereto consent in writing otherwise).

 

Section
10.07 Amendment. This Agreement may not be amended or modified except (a) by an instrument in writing signed
by, or on behalf of, the parties hereto that expressly references the Section of this Agreement to be amended; or (b) by a
waiver in accordance with Section 10.08.

 

Section
10.08 Waiver. Any party to this Agreement may (a) extend the time for the performance of any of the obligations
or other acts of the other party; (b) waive any inaccuracies in the representations and warranties of the other party contained
herein or in any document delivered by the other party pursuant to this Agreement; or (c) waive compliance with any of the
agreements of the other party or conditions to such obligations contained herein. Any such extension or waiver shall be valid only
if set forth in an instrument in writing signed by the parties to be bound thereby. Notwithstanding the foregoing, no failure or
delay by any party hereto in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise
thereof preclude any other or future exercise of any other right hereunder. Any waiver of any term or condition hereof shall not
be construed as a waiver of any subsequent breach or as a subsequent waiver of the same term or condition, or a waiver of any other
term or condition of this Agreement.

 

Section
10.09 No Third-Party Beneficiaries. This Agreement shall be binding upon and inure solely to the benefit of, and
be enforceable by, only the parties hereto and their respective successors and permitted assigns and nothing herein, express or
implied, is intended to, or shall confer upon, any other Person any right, benefit or remedy of any nature whatsoever, including
any rights of employment for any specified period, under or by reason of this Agreement.

 

Section
10.10 Specific Performance. Each of the parties hereto acknowledges and agrees that the parties hereto would be irreparably
damaged if any of the provisions of this Agreement are not performed in accordance with their specific terms or are otherwise breached
and that any non-performance or breach of this Agreement by any party hereto could not be adequately compensated by monetary damages
alone and that the parties hereto would not have any adequate remedy at law. Accordingly, in addition to any other right or remedy
to which any party hereto may be entitled, at law or in equity (including monetary damages), such party shall be entitled (to the
extent permitted by applicable Law) to enforce any provision of this Agreement by a decree of specific performance and to temporary,
preliminary and permanent injunctive relief to prevent breaches or threatened breaches of any of the provisions of this Agreement,
without proof of actual damages or posting any bond or other undertaking. Without limiting the generality of the foregoing, the
parties hereto agree that Seller shall be entitled to enforce specifically Purchaser’s obligation, and Purchaser shall be
entitled to enforce specifically Seller’s obligation, to consummate the transactions contemplated by this Agreement (including
the obligation to consummate the Closing and to pay all amounts payable hereunder and to sell the Shares), if the conditions set
forth in Section 7.01 or Section 7.02, as the case may be, have been satisfied (other than those conditions that
by their nature are to be satisfied at the Closing) or waived. The parties hereto agree that they will not contest the appropriateness
of specific performance as a remedy or assert that a remedy of monetary damages would provide an adequate remedy for any breach
or threatened breach of this Agreement.

 

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Section
10.11 Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State
of Delaware, regardless of any conflicts of law principles that would require the application of the Laws of another jurisdiction.
All Actions that, directly or indirectly, arise out of, or relate to, this Agreement shall be heard and determined exclusively
in the Court of Chancery of the State of Delaware; provided, however, that if such court does not have jurisdiction
over such Action, such Action shall be heard and determined exclusively in any Delaware state court or United States federal court
sitting in the State of Delaware. Consistent with the preceding sentence, each of the parties hereto hereby (a) submits to
the exclusive jurisdiction of any federal or state court sitting in the State of Delaware for the purpose of any Action brought
by any party hereto that, directly or indirectly, arises out of or relates to this Agreement; (b) agrees that service of process
in such Action will be validly effected by sending notice in accordance with Section 10.02; (c) irrevocably waives
and releases, and agrees not to assert by way of motion, defense, or otherwise, in or with respect to any such Action, any claim
that (A) such Action is not subject to the subject matter jurisdiction of at least one of the above-named courts; (B) its property
is exempt or immune from attachment or execution in the State of Delaware; (C) such Action is brought in an inconvenient forum;
(D) that the venue of such Action is improper; or (E) this Agreement or the transactions contemplated by this Agreement may not
be enforced in or by any of the above-named courts; and (d) agrees not to move to transfer any such Action to a court other
than any of the above-named courts.

 

Section
10.12 Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES TO THE FULLEST EXTENT PERMITTED
BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION OR LIABILITY, DIRECTLY OR INDIRECTLY, ARISING
OUT OF, RELATING TO, OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES
HERETO HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF ANY SUCH ACTION OR LIABILITY, SEEK TO ENFORCE THE FOREGOING WAIVER; AND (B) ACKNOWLEDGES
THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT,
AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.12.

 

    	 	31	 

     

    

 

Section
10.13 Counterparts. This Agreement may be executed and delivered (including by facsimile or other means of electronic
transmission, such as by electronic mail in “pdf” form) 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.

 

 

[Signature Pages Follow]

 

    	 	32	 

     

    

 

IN WITNESS WHEREOF, each of the parties hereto
has caused this Agreement to be executed as of the date first written above by its respective officers thereunto duly authorized.

 

	 	Celanese corporation
	 	 
	 	 
	 	By:	/s/ Lori J. Ryerkerk
	 	 	Name:	Lori J. Ryerkerk
	 	 	Title:	President and Chief Executive Officer

 

 

	 	Celanese Sales Netherlands B.V.  
	 	 
	 	 
	 	By:	/s/ Scott A. Richardson
	 	 	Name:	Scott A. Richardson
	 	 	Title:	Director

 

 

	 	Daicel Corporation
	 	 
	 	 
	 	By:	/s/ Yoshimi Ogawa
	 	 	Name:	Yoshimi Ogawa
	 	 	Title:	President and Chief Executive Officer

 

 

	 	POLYPLASTICS COMPANY, LTD.
	 	 
	 	 
	 	By:	/s/ Toshio Shiwaku
	 	 	Name:	Toshio Shiwaku
	 	 	Title:	President and Chief Executive Officer

 

[Signature
Page to Transaction Agreement]

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