Albemarle Corporation has announced the extension of its President and CEO, J. Kent Masters' employment through March 30, 2027, under a newly amended and restated executive employment agreement. As part of the agreement, Mr. Masters will maintain his annual base salary of $1,400,000 and remain eligible for an annual bonus targeting 150% of his salary, with a maximum potential of 200% of the target. The agreement includes terms for severance compensation should his employment be terminated without cause, allowing for accrued benefits, a prorated annual bonus, continued vesting of long-term incentive grants, and financial counseling, contingent upon compliance with restrictive covenants. Additionally, the change in control agreement has been extended, mirroring many of the original terms, and includes non-competition and non-solicitation clauses effective for three years post-employment.