Celanese Corporation Summary of Non-Employee Director Compensation
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Summary
Celanese Corporation provides its non-employee directors with an annual cash retainer of $85,000, paid quarterly, and an annual equity retainer of $85,000 in restricted stock units. Committee chairs receive additional annual fees: $10,000 for the nominating and corporate governance, compensation, and environmental, health & safety committees, and $20,000 for the audit committee. Non-employee directors may also participate in the company's 2008 Deferred Compensation Plan, allowing them to defer compensation for future payment based on investment performance.
EX-10.29 8 d77691exv10w29.htm EX-10.29 exv10w29
Exhibit 10.29
Summary of Non-Employee Director Compensation
Each non-employee director of Celanese Corporation (the “Company”) is entitled to (i) an annual cash retainer of $85,000, which is paid in quarterly installments, and (ii) an annual equity retainer of $85,000 in restricted stock units (awarded at the first regular board meeting following the Annual Meeting of Stockholders). In addition, the chair of the nominating and corporate governance committee, compensation committee and environmental, health & safety committee receives an annual fee of $10,000 and the chair of the audit committee receives an annual fee of $20,000. The presiding director receives no additional compensation for his services as such.
Non-employee directors are also able to participate in the Company’s 2008 Deferred Compensation Plan, which is an unfunded, nonqualified deferred compensation plan that allows directors the opportunity to defer a portion of their compensation in exchange for a future payment amount equal to their deferments plus or minus certain amounts based upon the market performance of specified measurement funds selected by the participant.
