# EDGAR Filing Document

**Accession Number:** 0000016040
**File Stem:** 0001193125-25-133898
**Filing Date:** 2025-6
**Character Count:** 51925
**Document Hash:** 59f9e2e64fbbbf0df7d669c7ab59ab30
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-133898.hdr.sgml**: 20250603

**ACCESSION NUMBER**: 0001193125-25-133898

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250530

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250603

**DATE AS OF CHANGE**: 20250603

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CABOT CORP
- **CENTRAL INDEX KEY:** 0000016040
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS CHEMICAL PRODUCTS [2890]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 042271897
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-05667
- **FILM NUMBER:** 251017457

**BUSINESS ADDRESS:**
- **STREET 1:** TWO SEAPORT LANE SUITE 1400
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 6173450100

**MAIL ADDRESS:**
- **STREET 1:** TWO SEAPORT LANE SUITE 1400
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CABOT GODFREY L INC
- **DATE OF NAME CHANGE:** 19680418

?xml version='1.0' encoding='ASCII'? 8-K

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### WASHINGTON, DC 20549

### FORM 8-K

#### CURRENT REPORT

#### PURSUANT TO SECTION 13 OR 15(D)

#### OF THE SECURITIES EXCHANGE ACT OF 1934

#### Date of report (Date of earliest event reported): May 30, 2025

## CABOT CORPORATION

#### (Exact Name of Registrant as Specified in Its Charter)

#### DELAWARE

#### (State or Other Jurisdiction of Incorporation)

---

| | |
|:---|:---|
| **1-5667** | **04-2271897** |
| **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

---

| | |
|:---|:---|
| **TWO SEAPORT LANE, SUITE 1400,**<br> **BOSTON, MASSACHUSETTS**  | **02210-2019** |
| **(Address of Principal Executive Offices)** | **(Zip Code)** |

---

(617) 345-0100

#### (Registrant's Telephone Number, Including Area Code)

#### (Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading<br>Symbol(s)** | **Name of each exchange**<br> **on which registered** |
| Common Stock, $1 par value per share | CBT | The New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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---

| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**  |

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(b) On May 30, 2025, Hobart C. Kalkstein, Executive Vice President and President, Reinforcement Materials Segment of Cabot Corporation (the "Company"), informed the Company's Board of Directors (the "Board") of his decision to step down from those positions, effective June 15, 2025. Mr. Kalkstein will remain an employee of Cabot serving in an advisory capacity through his retirement on January 5, 2026 to assist in a smooth transition. The Board has appointed Matthew Wood a Senior Vice President of the Company, and Mr. Wood will succeed Mr. Kalkstein as President, Reinforcement Materials Segment.

(e) In connection with Mr. Kalkstein's retirement from the Company and as an inducement for Mr. Kalkstein to remain an employee until January 5, 2026 to assist with the transition of responsibilities, the Company and Mr. Kalkstein have entered into a transition agreement (the "Transition Agreement") under which, upon the termination of Mr. Kalkstein's employment, and Mr. Kalkstein's execution and delivery of a post-employment general release and waiver of claims and a non-competition and non-solicitation agreement, the Company has agreed to extend the exercise period of Mr. Kalkstein's vested options to purchase the Company's common stock (which would otherwise expire on the date that is three months following the termination of employment) until the earlier of (i) thirty-six months following the termination of employment and (ii) the original expiration date of the option. Further, as consideration for Mr. Kalkstein's obligations under the non-competition and non-solicitation agreement and as provided in Kalkstein's employment agreement with the Company, during the twelve-month period of non-competition and non-solicitation provided for in the Transition Agreement, the Company will continue to pay Mr. Kalkstein compensation at the rate of one-half of his base salary of wage being paid to him at his retirement date. These arrangements are subject to Mr. Kalkstein's continued compliance with his obligations to the Company, including regarding confidential information and proprietary developments.

The foregoing description of the Transition Agreement does not purport to be complete and is qualified in its entirety by reference to the full terms and conditions of the Transition Agreement, which is filed with this Current Report on Form 8-K as Exhibit 10.1, and which is incorporated in this Item 5.02 by reference.

---

| | |
|:---|:---|
| **Item 7.01.** | **Regulation 7.01 Disclosure.**  |

---

On June 3, 2025, the Company issued a press release announcing the retirement of Mr. Kalkstein, and the appointment of Mr. Wood, as Senior Vice President. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

The information furnished in this Item 7.01, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

10.1 [Transition Agreement, dated May 30, 2025, between Cabot Corporation and Hobart C. Kalkstein](d32655dex101.htm)

99.1 [Press release issued by Cabot Corporation on June 3, 2025](d32655dex991.htm)

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **CABOT CORPORATION** | **CABOT CORPORATION** |
| By: | /s/ Karen A. Kalita |
| Name: | Karen A. Kalita |
| Title: | Senior Vice President and General Counsel |

---

Date: June 3, 2025

## Exhibit 10.1

Exhibit 10.1

**<u>TRANSITION AGREEMENT</u>**

THIS TRANSITION AGREEMENT (this "**Agreement**") is entered into as of the 30<sup>th</sup> day of May, 2025, by and between Cabot Corporation ("**Cabot**" or the "**Company**") and Hobart C. Kalkstein ("**Kalkstein**").

WHEREAS, in connection with his anticipated retirement from Cabot, Kalkstein has provided Cabot his resignation as Cabot's Executive Vice President, effective June 15, 2025 (the "**Transition Date**").

WHEREAS, to provide a smooth transition of responsibilities, Cabot desires Kalkstein to remain an employee through January 5, 2026 (from the Transition Date through the date Kalkstein's employment terminates, hereinafter referred to as the "**Retirement Date**", is hereinafter referred to as the "**Transition Period**"), and Kalkstein is willing to do so, on the terms and conditions set forth below.

In consideration of the foregoing, and the mutual promises, covenants and agreements set forth herein, Cabot and Kalkstein intending to be legally bound, hereby agree as follows:

**1. Performance**. During the Transition Period, Kalkstein will remain an employee-at-will of the Company and continue to receive base salary, payable at the rate in effect as of the date hereof, and continue to participate in all employee benefit plans of the Company (including, but not limited to, the Company's medical, dental, life insurance, supplemental life insurance, financial advisory, executive physical and vacation benefit plans) in accordance with the terms of those plans. In addition, Kalkstein's rights and obligations under Cabot's benefit plans, including but not limited to the Deferred Compensation Plan, the Supplemental 401(k) Plan, and the Supplemental Cash Balance Plan shall be governed by the terms of such plans. During the Transition Period, Kalkstein will perform such duties as a full-time employee as may be assigned to him from time to time by the President and Chief Executive Officer of the Company or his designee, including but not limited to assisting with an orderly transition of his duties and responsibilities to the Senior Vice President, and President, Reinforcement Materials Segment, meeting with advisors and other constituents of the Company to facilitate this transition and providing advice to the Company based on his knowledge of the Company and its business. Kalkstein agrees to continue to devote his best professional efforts to the Company, and to abide by all Company policies and procedures as in effect from time to time. Provided that Kalkstein complies in full with his obligations hereunder, it is expected that the Retirement Date will be January 5, 2026; and unless Kalkstein's employment with the Company terminates before such date, Kalkstein will retire from Cabot as of such date and no longer be an employee of the Company.

**2. Consideration**. In consideration of Kalkstein's acceptance of this Agreement and subject to Kalkstein meeting in full his obligations hereunder, including his obligation to execute, without subsequently revoking, a post-employment general release and waiver of claims in the form attached hereto as **Exhibit A** (the "**Release of Claims**") on or after the Retirement Date (and within the time period prescribed therein), and the non-competition and non-solicitation agreement in the form attached hereto as **Exhibit B** (the "**Non-Competition and Non-Solicitation Agreement**"), the Company agrees that the period of time during which Kalkstein shall be able to exercise any vested options to purchase Cabot common stock held by Kalkstein at the Retirement Date shall be the earlier of (i) 36 months from the Retirement Date and (ii) the original expiration date of such options. The table below sets forth the vested and unvested stock options Kalkstein holds as of the date hereof, and specifies the options scheduled to vest in accordance with their terms on November 8, 10 and 11, as applicable, the exercise periods of which vested options would be extended in accordance with the terms and conditions of this Agreement.

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Grant Date** | **Exercise<br>Price** | **Vested<br>Options** | **Unvested<br>Quantity** | **Options<br>Vesting Nov<br>2025** | **Total Quantity<br>of Vested<br>Options after<br>Nov 2025** | **Expiration<br>Date** |
|  11/12/2021 | $58.27 | 8119 | 0 |  | 8119 | 11/11/2031 |
|  11/11/2022 | $73.84 | 0 | 5594 | 5594 | 5594 | 11/10/2032 |
|  11/10/2023 | $74.40 | 4212 | 9828 | 4212 | 8424 | 11/09/2033 |
|  11/08/2024 | $114.99 | 0 | 9341 | 2802 | 2802 | 11/07/2034 |
|  **TOTAL** |  | **12331** | **24763** | **12608** | **24939** |  |

---

For the avoidance of doubt, this list shall be updated on the Retirement Date to reflect any option exercises from and after the date hereof through and including the Retirement Date.

If Kalkstein does not timely execute the Release of Claims, or if the Release of Claims does not become effective in accordance with its terms, or if Kalkstein does not timely execute the Non-Competition and Non-Solicitation Agreement, or if the Company terminates Kalkstein's employment for Cause prior to January 5, 2026, the exercise period of Kalkstein's vested options shall be as set forth in the relevant stock option award agreements. The extended exercise period of the vested options shall only become effective on the expiration of the seven-day period provided for in the Release of Claims, and only if the revocation rights contained therein are not timely exercised by Kalkstein, and following Mr. Kalkstein's execution and delivery of the Non-Competition and Non-Solicitation Agreement.

Except as specifically modified by the preceding sentence, any such exercise of vested stock options by Kalkstein shall be in accordance with the terms of the Amended and Restated 2017 Long-Term Incentive Plan, as applicable, and the terms of the award agreements under which such stock options were granted.

Kalkstein understands and agrees that his rights and obligations with respect to any shares of stock, stock units or stock options granted to him by Cabot which are vested on or as of the Retirement Date shall be governed by the applicable equity plan under which they were granted and any agreements or other requirements applicable to those shares, stock units or options. Kalkstein understands and agrees that the following long-term incentive grants will be forfeited by Kalkstein on the Retirement Date with no consideration due to Kalkstein pursuant to the terms of such awards:

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| | | | |
|:---|:---|:---|:---|
| Award Grant Date | Time Based Stock<br> Units | Performance Based<br> Stock Units Granted | Stock Options |
| Nov. 10, 2023 | 4435 | 6,650 (consisting of 3,200 banked PSUs and 3,450 PSUs at target) | 5,616 options with exercise price of $74.40 |
| Nov. 8, 2024 | 3130 | 3,652 (grant at target) | 6,539 options with exercise price of $114.99 |

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Kalkstein further understands and agrees that if Kalkstein terminates his employment with the Company for any reason prior to November 8, 10, or 11, 2025, as the case may be, or the Company terminates Kalkstein's employment for Cause prior to any such date, the following long-term incentive grants, to the extent they remain unvested, will also be forfeited by Kalkstein on the date of such termination of employment with no consideration due to Kalkstein pursuant to the terms of such awards:

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| | | | |
|:---|:---|:---|:---|
| Award Grant Date | Time Based Stock<br> Units | Performance Based<br> Stock Units Granted | Stock Options |
| Nov. 11, 2022 | 4265 | 4,202 (consisting of 2,543 banked PSUs and 1,659 PSUs at target) | 5,594 options with exercise price of $73.84 |
| Nov. 10, 2023 | 4435 | 6,650 (consisting of 3,200 banked PSUs and 3,450 PSUs at target) | 9,828 options with exercise price of $74.40 |
| Nov. 8, 2024 | 3130 | 3,652 (grant at target) | 9,341 options with exercise price of $114.99 |

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To the extent Kalkstein is in possession of any stock unit and/or stock option award certificates for any shares of stock and/or stock options granted to Kalkstein which will not be vested on or as of the Retirement Date, Kalkstein further agrees to return, no later than the Retirement Date, all such certificates in his possession.

**3. Annual STI Bonus**. Kalkstein shall be entitled to receive his 2025 short-term incentive bonus, based on Cabot's actual performance for the full fiscal year and Kalkstein's individual performance as assessed by Cabot's President and Chief Executive Officer, and paid at the same time the 2025 STI bonuses are paid to participants in the STI program; provided however, if Kalkstein terminates his employment with the Company prior to September 30, 2025, or if the Company terminates Kalkstein's employment for Cause prior to the payment of such bonus, Kalkstein shall not be entitled to such STI bonus.

For purposes of this Agreement, "**Cause**", as determined by the Company in its good faith, reasonable judgment, shall mean only (i) Kalkstein's material breach of this Agreement or any material written policy of the Company or its Affiliates, which material breach, if susceptible to cure, remains uncured fourteen (14) days after the Company has provided written notice to Kalkstein specifying in reasonable detail the nature of the alleged breach or (ii) Kalkstein's commission of a felony or other crime involving moral turpitude. For purposes of this Agreement, "**Affiliates**" means all persons and entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by management authority, equity interest or otherwise.

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**4. Non-Competition, Non-Solicitation.** To protect the Confidential Information (as defined below), customer goodwill and other legitimate business interests of Cabot (including, for purposes of this paragraph 4, Cabot, its Affiliates and its subsidiaries), Kalkstein agrees to execute and deliver to the Company the Non-competition and Non-solicitation Agreement (Exhibit B) on or after the Retirement Date. In exchange for the compensation and benefits provided to Kalkstein under this Agreement and as consideration for the promises Kalkstein makes to the Company under the Non-Competition and Non-Solicitation Agreement, and as provided in Kalkstein's employment agreement with the Company dated January 7, 2005 (the "**Employee Agreement"**), during the period of non-competition and non-solicitation under the Non-Competition and Non-Solicitation Agreement, the Company shall continue to pay Kalkstein compensation in the form of bi-weekly payments at the rate of one-half of the base salary of wage being paid to Kalkstein at the Retirement Date for as long as such non-competition and non-solicitation obligations under the Non-Competition and Non-Solicitation Agreement remain in effect. This Agreement and the Non-Competition and Non-Solicitation Agreement supersede any post-employment non-competition and non-solicitation covenants set forth in the Employee Agreement.

**5. Confidential Information.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) Kalkstein agrees that he will continue to keep confidential and protect Confidential Information, as defined herein, and that he will not, directly or indirectly, disclose it to others or use it for any purpose. As used in this Agreement, "**Confidential Information**" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any and all information of Cabot (including, for purposes of this paragraph 5, Cabot, its Affiliates and its subsidiaries) of a confidential and/or proprietary nature, including, but not limited to: technology; inventions (whether or not patentable); trade secrets; samples; compositions; techniques and equipment; methods; manufacturing processes and processing conditions; engineering data; drawings; specifications; formulae; plant design and layout; products and product applications; development plans and new business opportunities; experimental work; commercial and developmental operations; the identities and requirements of customers and prospective customers; customer lists; suppliers and supplier lists; the identities of other individuals or third parties with whom Cabot has or with which Cabot is seeking to develop a business relationship and the nature and details of any such relationship or potential relationship; software and networks; business, marketing and any other plans and strategies; sales, pricing, raw materials and cost information; financial information; compensation, benefits and related incentives; and any other information relating to Cabot and its businesses beyond confidential and/or proprietary customer, supplier or business partner communications as set forth in (ii below to the extent that such information has not been published or is not publicly available; and,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any and all information received confidentially by Cabot in the conduct of its business from any customer or other third party (e.g. supplier or business partner) of a confidential and/or proprietary nature, including, but not limited to: technology; inventions (whether or not patentable); trade secrets; samples; compositions; performance targets and criteria; techniques and equipment; methods; manufacturing processes and processing conditions; engineering data; drawings; specifications; plant design and layout; products and product applications; development plans and new business opportunities; experimental work; commercial and developmental operations; customers and customer lists; suppliers and supplier lists; software and networks; business and marketing plans and strategies; pricing and costs information; financial information; and any other information relating to such customer or third party and its businesses.

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Confidential Information does not include information that (a) is or becomes known publicly through no fault of Kalkstein's; (b) Kalkstein has learned from a third party who Kalkstein believes in good faith and upon reasonable inquiry is entitled to disclose it; (c) is already known to Kalkstein before disclosure by the Company (provided that the information is not subject to another confidentiality agreement with or other contractual, legal or fiduciary obligation to the Company); or (d) is independently developed by Kalkstein without the use of or reference to the Confidential Information. Further, Confidential Information does not include information lawfully acquired, as a non-management employee, about wages, hours or terms and conditions of employment if used by Kalkstein for purposes protected by Section 7 of the National Labor Relations Act, such as joining or forming a union, engaging in collective bargaining, or engaging in other concerted activity for Kalkstein's mutual aid or protection.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) Nothing in this Agreement prohibits Kalkstein from reporting an event that Kalkstein reasonably and in good faith believes is a violation of law to the relevant law-enforcement agency (such as the Securities and Exchange Commission, Equal Employment Opportunity Commission, or Department of Labor), or from cooperating in an investigation conducted by such a government agency. Kalkstein is hereby provided notice that under the 2016 Defend Trade Secrets Act (DTSA): (i) no individual (consultant, contractor or employee) will be held criminally or civilly liable under Federal or State trade secret law for the disclosure of a trade secret (as defined in the Economic Espionage Act) that: (a) is made in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and made solely for the purpose of reporting or investigating a suspected violation of law; or, (b) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal so that it is not made public; and, (ii) an individual (consultant, contractor or employee) who pursues a lawsuit for retaliation by an employer for reporting a suspected violation of the law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal, and does not disclose the trade secret, except as permitted by court order. Nothing in this Agreement or in any other Company agreement, policy, directive, or representation prohibits or impedes Kalkstein, or any employee or former employee of the Company, from communicating directly with the SEC under the protection of SEC Rule 21F-17. If Kalkstein has initiated communication with the SEC relating to a possible securities law or rule violation, nothing in this Agreement prohibits or impedes Kalkstein's ability to continue to communicate directly with the SEC or requires Kalkstein to first seek consent, written or oral, from the Company before doing so. Further, nothing in this Agreement prohibits or impedes Kalkstein from testifying in any SEC proceeding or, if eligible under applicable law, interferes with Kalkstein's right, if any, to receive an award from the government for information provided to the SEC.

**6. Proprietary Rights.** Kalkstein hereby agrees that all inventions, discoveries and improvements conceived or made by Kalkstein during his employment with Cabot (including, for purposes of this paragraph 6, Cabot, its Affiliates and its subsidiaries) that (i) relate to the business or activities of Cabot or (ii) were or are conceived or developed by Kalkstein during normal working hours or using Cabot's facilities, belong to Cabot, whether or not reduced to writing or practice during Kalkstein's employment with Cabot. Kalkstein hereby assigns to Cabot or its nominee all Kalkstein's rights and interest in any

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such inventions, discoveries and improvements and agrees to keep protected the interest of Cabot or its nominee in any such inventions, discoveries and improvements. Kalkstein is also assigning to Cabot or its nominee all copyrights and reproduction rights to any material prepared by Kalkstein during his employment with Cabot that (i) relate to the business activities of Cabot or (ii) were or are conceived or developed by Kalkstein during normal working hours or using Cabot's facilities. To the extent that Kalkstein cannot assign and transfer any of the foregoing rights or interest, then Kalkstein hereby grants Cabot an irrevocable, worldwide, fully paid-up, royalty-free, exclusive license, with the right to sublicense through multiple tiers, to make, use, sell, improve, reproduce, distribute, perform, display, transmit, manipulate in any manner, create derivative works based upon, and otherwise exploit or utilize in any manner the aforesaid inventions, discoveries, improvements and materials. If within the twelve-month period following the Retirement Date, Kalkstein discloses to anyone or files a patent application with respect to any invention, discovery or improvement relating to any subject matter with which Kalkstein's work for Cabot was concerned, such invention, discovery or improvement shall be presumed to have been made by Kalkstein during his employment with Cabot unless Kalkstein can provide clear and convincing evidence to the contrary.

**7. Employment Agreement.** Notwithstanding the foregoing, Kalkstein acknowledges that he continues to be bound by his obligations under the Employee Agreement to the extent such obligations are in addition to the obligations and matters set forth herein.

Except as otherwise stated herein, this Agreement does not modify or supersede any obligations that Kalkstein has to Cabot by law or otherwise.

**8. Termination.** This Agreement may be terminated by Cabot immediately for Cause. Notwithstanding anything in this Agreement to the contrary, the Company shall have the right to require that Kalkstein repay or forfeit, as applicable, his STI bonus or long-term incentive awards previously paid or provided to Kalkstein hereunder at any time if the Company determines, reasonably and in good faith, that Kalkstein has breached any of the terms and conditions of this Agreement or the Employee Agreement, or pursuant to the terms and conditions set forth in any applicable clawback policy of the Company, but any such termination of benefits shall not relieve Kalkstein of his obligations and undertakings under this Agreement. Other than with respect to any clawback, any Company determination made under this paragraph shall be subject to judicial review.

**9. Acknowledgement, Severability.** Kalkstein acknowledges that he has carefully read and considered all the terms and conditions of this Agreement, including the restraints imposed upon him pursuant to paragraphs 4, 5 and 6. Kalkstein understands and agrees that these restraints are necessary for the reasonable and proper protection of the legitimate business interests of Cabot (including, for purposes of this paragraph 9, Cabot, its Affiliates and its subsidiaries), and that a breach by Kalkstein of any one of these restraints would cause irreparable harm and damage to Cabot. Kalkstein further acknowledges that damages would not be an adequate remedy for a breach or threatened breach by Kalkstein of any one of the covenants referenced in paragraphs 4, 5 and 6 and under the Non-Competition and Non-Solicitation Agreement. Kalkstein therefore agrees that Cabot shall be entitled to the enforcement of this Agreement by injunction, specific performance or other equitable relief, without need of posting a bond and without prejudice to any other rights and remedies that Cabot may have under this Agreement or under applicable law. Kalkstein further agrees that in the event that any provision of this Agreement or under the Non-Competition and Non-Solicitation Agreement shall be determined by any court of competent jurisdiction to be unenforceable by reason of its being extended over too great a time, too large a geographic area or too great a range of activities, such provision shall be deemed to be

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modified to permit its enforcement to the maximum extent permitted by law. In the event of any breach, or alleged or threatened breach, of this Agreement, Kalkstein hereby consents and submits to the jurisdiction of the federal and state courts in and of the Commonwealth of Massachusetts, and this Agreement shall be governed by and interpreted in accordance with the laws of the Commonwealth of Massachusetts, without regard to the conflict of laws principles thereof.

**10. Reliance, Entire Agreement**. Kalkstein hereby represents and acknowledges that in executing this Agreement, he does not rely and has not relied upon any representation or statement (other than the express terms of this Agreement) made by Cabot or by any agents, representatives or attorneys of Cabot with regard to the subject matter, basis or effect of this Agreement. This Agreement (including Exhibit A and Exhibit B) constitutes the entire agreement between Kalkstein and Cabot and replaces all prior and contemporaneous agreements, communications and understandings, whether written or oral, with respect to Kalkstein's employment at Cabot and its termination and all related matters, except as otherwise specifically provided herein.

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

**12. Return of Company Property.** In signing this Agreement, Kalkstein represents and warrants that, by the Retirement Date, Kalkstein will have returned to the Company any and all non-public documents, materials and information (whether in hardcopy, on electronic media or otherwise) related to Company business (whether present or otherwise) and all keys, access cards, credit cards, computer hardware and software, telephones and telephone-related equipment and all other property of the Company or any of its Affiliates in Kalkstein's possession or control. Cabot may decide to allow Kalkstein to keep his computer and or phone should they have no residual useful value for Cabot and only if they are wiped clean of all Company information. Further, Kalkstein represents and warrants that he will not retain any copy of any non-public Company documents, materials or information (whether in hardcopy, on electronic media or otherwise). Recognizing that Kalkstein's employment with the Company will end on the Retirement Date, Kalkstein agrees that he will not, for any purpose, attempt to access or use any Company computer or computer network or system, including without limitation its electronic mail system after the Retirement Date. Further, Kalkstein acknowledges that he will disclose to the Company all passwords necessary or desirable to enable the Company to access all information which he has password-protected on any of its computer equipment or on its computer network or system.

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| | |
|:---|:---|
| CABOT CORPORATION | CABOT CORPORATION |
| By: | /s/ Sean D. Keohane |
|  | Sean D. Keohane |
|  | President and Chief Executive Officer |

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Having carefully read and fully understanding the provisions and effects of this Agreement, the foregoing offer by Cabot Corporation is knowingly and voluntarily accepted and agreed to this 30th day of May, 2025.

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| |
|:---|
| /s/ Hobart C. Kalkstein |
| Hobart C. Kalkstein |

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**Exhibit A** 

**Post-Employment General Release and Waiver of Claims** 

For and in consideration of certain compensation and benefits to be provided to me under the Transition Agreement between me and Cabot Corporation (the "Company"), dated as of May 30, 2025 (the "Agreement"), which are conditioned on my signing this General Release and Waiver of Claims (this "Release of Claims"), and to which I am not otherwise entitled, and other good and valuable consideration, the receipt and sufficiency of which I hereby acknowledge, on my own behalf and on behalf of my heirs, executors, administrators, beneficiaries, representatives, successors and assigns, and any other person or entity claiming through or under me , I hereby release and forever discharge the Company and its subsidiaries and other affiliates, and all of their respective past, present and future directors, shareholders, officers, members, managers, general and limited partners, insurers, employees, agents, representatives, consultants, successors and assigns, any employee benefit plans maintained by or on behalf of the Company or its subsidiaries, Affiliates, or successors, or any of the trustees or administrators thereof, and all others connected with any of the foregoing, in their official and individual capacities (collectively, the "Releasees"), from any and all causes of action, suits, rights, claims, demands, damages and compensation of any kind and nature whatsoever, whether at law or in equity, whether now known or unknown, suspected or unsuspected, contingent or otherwise, which I now have or ever have had against the Releasees, or any of them, in any way related to, connected with or arising out of my employment and/or other relationship with the Company or any of its affiliates or the termination thereof, or pursuant to Title VII of the Civil Rights Act, the Americans With Disabilities Act, the Family and Medical Leave Act, the Worker Adjustment and Retraining Notification Act or any similar state law, the Age Discrimination in Employment Act (as amended by the Older Workers Benefit Protection Act), the Employee Retirement Income Security Act, the wage and hour, wage payment or fair employment practices laws of the Commonwealth of Massachusetts and any other state or states in which I have provided services to the Company or its affiliates (each as amended from time to time) and/or any other federal, state or local law, regulation, or other requirement (collectively, the "Claims") through the date that I sign this Release of Claims, and I hereby waive all such Claims.

I affirm and warrant that I have not filed any complaints, charges or claims for relief against Cabot with any local, state or federal court or administrative agency. I also affirm that I have been paid and/or have received all leave (paid or unpaid), compensation, wages, bonuses, commissions, and/or benefits to which I may be entitled and that no other leave (paid or unpaid), compensation, wages, bonuses, commissions and/or benefits are due to me, except as expressly provided in the Agreement. I will not continue to earn vacation or other paid time off after the Retirement Date. I further affirm that I have not been retaliated against for reporting any allegations of wrongdoing by the Releasees, including any allegations of fraud or impropriety.

I understand that this Release of Claims does not include and will not preclude a claim for or with respect to: (a) base salary payable through the Retirement Date; or accrued, unused vacation time as recorded on the Company's books as of the Retirement Date; (b) vested benefits under any Company employee benefit plan; (c) compensation and benefits under the Agreement; (d) any claim which, as a matter of law, cannot be released by private agreement; and (e) my rights to be indemnified by Cabot under Cabot's By-Laws and/or Cabot's Restated Certificate of Incorporation or the Indemnification Agreement between Cabot and me dated September 8, 2022, or as an officer or former officer of Cabot to insurance coverage under Cabot's directors' and officers' insurance program in accordance with its terms.

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In addition, I understand that nothing in the Agreement or this Release of Claims including but not limited to the release of claims, warranties, confidentiality, and return of property provisions (i) limits or affects my right to challenge the validity of the Agreement or this Release of Claims under the Age Discrimination in Employment Act or the Older Workers' Benefit Protection Act, (ii) prevents me from communicating with, filing a charge or complaint with; providing documents or information voluntarily or in response to a subpoena or other information request to; or from participating in an investigation or proceeding conducted by the Equal Employment Opportunity Commission, National Labor Relations Board, the Securities and Exchange Commission, the Occupational Safety and Health Administration, law enforcement, or any other federal, state or local agency charged with the enforcement of any laws, or from testifying, providing evidence, responding to a subpoena or discovery request in court litigation or arbitration, or (iii) limits me from exercising rights under Section 7 of the National Labor Relations Act to engage in joint activity with other employees, although by signing this Release of Claims I am waiving rights to individual relief (including backpay, frontpay, reinstatement or other legal or equitable relief) in any charge, complaint, or lawsuit or other proceeding brought by me or on my behalf by any third party, except for any right I may have to receive a payment from a government agency (and not the Company) for information provided to the government agency or otherwise where prohibited, or (iv) prohibits me from disclosing trade secret information to a governmental official or an attorney in the course of reporting a suspected violation of law, provided that such information is disclosed in accordance with 18 U.S.C. 1833.

**THIS RELEASE AND WAIVER SPECIFICALLY WAIVES ALL RIGHTS AND CLAIMS I MAY HAVE UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT AND THE OLDER WORKERS' BENEFIT PROTECTION ACT**. In accordance with these statutes, the Company advises me to consult with counsel prior to my execution of this Release of Claims. I acknowledge that I have had ample opportunity to consult with counsel prior to my execution of this Release of Claims, and was encouraged and advised in writing to do so. My waiver of claims under the Age Discrimination in Employment Act is in exchange for consideration that is in addition to anything of value to which I was already entitled. By signing this Release of Claims, I acknowledge that I have carefully read and fully understand all of its provisions, and knowingly and voluntarily intend to be legally bound by all of the terms in this Release of Claims. I further acknowledge that I have relied solely and completely upon my own judgment and/or the advice of counsel in entering into this Release of Claims.

I further acknowledge that I may not sign this Release of Claims prior to the Retirement Date (as such term is defined in the Agreement), but must sign this Release of Claims by the later of (i) eight (8) days following the Retirement Date (as defined in the Agreement) and (ii) twenty-one (21) days following May 30, 2025. In signing this Release of Claims, I give the Company assurance that I have signed it voluntarily and with a full understanding of its terms; that I have had sufficient opportunity of not less than twenty-one (21) days before signing this Release of Claims to consider its terms and to consult with an attorney, if I wished to do so, or to consult with any person of my choosing; and that I have not relied on any promises or representations, express or implied, that are not set forth expressly in this Release of Claims. I understand that I will have seven (7) days after signing this Release of Claims to revoke my signature, and that, if I intend to revoke my signature, I must do so in writing addressed and delivered to Arthur T. Wood at Cabot Corporation prior to the end of the seven (7)-day revocation period. I understand that this Release of Claims will become effective upon the eighth (8th) day following the date that I sign it, provided that I do not revoke my acceptance in accordance with the immediately preceding sentence.

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I represent and warrant that I have (i) returned to the Company any and all non-public documents, materials and information (whether in hardcopy, on electronic media or otherwise) related to Company business (whether present or otherwise) and all keys, access cards, credit cards, computer hardware and software, telephones and telephone-related equipment and all other property of the Company or any of its Affiliates in my possession or control, unless otherwise agreed, and (ii) not retained any copy of any non-public Company documents, materials or information (whether in hardcopy, on electronic media or otherwise). I agree that I will not, for any purpose, attempt to access or use any Company computer or computer network or system, including without limitation its electronic mail system. Further, I acknowledge that I have disclosed to the Company all passwords necessary or desirable to enable the Company to access all information which I have password-protected on any of its computer equipment or on its computer network or system.

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| |
|:---|
| Accepted and agreed: |
| Signature: |
| Hobart C. Kalkstein |
| Date: January, 2026 |

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**Exhibit B** 

**Non-Competition and Non-Solicitation Agreement** 

For and in consideration of certain compensation to be paid to me under Sections 2 and 4 of the Transition Agreement between me and Cabot Corporation (the Company"), dated as of May 30, 2025 (the "Agreement"), the receipt of which I am not otherwise entitled and is conditioned on my making and keeping the promises set forth herein, and to protect the Confidential Information, customer goodwill and other legitimate business interests of Cabot, its Affiliates and its subsidiaries, I agree that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) for a period of twelve months following the date hereof (the Retirement Date, as defined in the Agreement), I
will not, unless authorized in writing by the Company, within the Territory (as defined below), directly or indirectly (either alone or in association with any person, firm, corporation, or other entity or otherwise) work for or on behalf of, become
an owner, partner or investor (holding 5% or more of the ownership interest) in, consult with, or otherwise provide any services to any third party (whether or not for compensation) in any area or activity that is competitive with any business or
research and development activity of Cabot in which I have been involved or to which I have been exposed during my employment at Cabot; I further agree that because I have been in a position where my responsibilities have been corporate-wide and not
geographically limited to an assigned location or territory, Territory means such countries in which Cabot is marketing or is pursuing marketing products as of the date hereof (the Retirement Date), including state and state-equivalents and county
and county-equivalents within those countries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) for a period of twelve months following the date hereof (the Retirement Date), I will not, unless authorized in
writing by the Company, directly or indirectly (either alone or in association with any person, firm, corporation, or other entity or otherwise) solicit, contact or call upon, or attempt to do the same, any customer of Cabot with whom I had contact
during my employment with Cabot in an effort to induce such customer to purchase goods or services offered by Cabot from a party other than Cabot; and,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) for a period of twelve months following the date hereof (the Retirement Date), I will not, unless authorized in
writing by the Company, directly or indirectly (either alone or in association with any person, firm, corporation, or other entity or otherwise) hire, recruit, solicit, induce, or attempt to do the same, any employee or independent contractor of or
supplier to Cabot who is employed by or providing services or products to Cabot as of or prior to the date hereof (the Retirement Date), to leave the employ of Cabot or otherwise cease to make his/her/its services or products available to Cabot.

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In signing this Non-Competition and Non-Solicitation Agreement, I acknowledge that I have had sufficient opportunity of not less than 10 business days to consider its terms and that Cabot has advised me to consult with an attorney concerning this Non-Competition and Non-Solicitation Agreement, which creates legally binding obligations.

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| |
|:---|
| Accepted and agreed: |
| Signature: |
| Hobart C. Kalkstein |
| Date: January ___, 2026 |

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## Exhibit 99.1

**Exhibit 99.1** 

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| | |
|:---|:---|
| **Contact:** | Vanessa Craigie |
|  | Corporate Communications |
|  | (617) 342-6015 |

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**Cabot Corporation Announces Executive Vice President and President, Reinforcement Materials** 

**Segment Hobart C. Kalkstein to Retire and Matthew Wood appointed Senior Vice President and** 

**President, Reinforcement Materials Segment** 

**BOSTON** –(BUSINESS WIRE)--June 3, 2025-- <u>Cabot Corporation</u> (NYSE: CBT) today announced that Hobart ("Bart") C. Kalkstein, executive vice president and president of the Company's Reinforcement Materials Segment, will retire from the Company as of January 5, 2026. In connection with Bart's retirement, effective June 15, 2025 Matthew ("Matt") Wood, the Company's vice president, global marketing and strategy, for the Company's Battery Materials product line, will become senior vice president and president, Reinforcement Materials Segment. To assist in a smooth transition, Kalkstein will remain an employee of Cabot through his retirement date.

Kalkstein, who joined Cabot in 2005, was elected Executive Vice President in December 2022, and Senior Vice President and President, Reinforcement Materials Segment, in April 2016. Prior to this role, he held a variety of business leadership roles in the Company's former activated carbon business and its Performance Chemicals Segment.

"Over the past 20 years, Bart has provided tremendous business leadership. During his close to 10-year tenure as President, Reinforcement Materials Segment, he has been instrumental in delivering that Segment's strong financial performance, driving operational excellence at our manufacturing plants, and further strengthening our leadership position as an important supplier to the tire industry. He also played a key role in developing our EVOLVE<sup>®</sup> Sustainable Solutions technology platform," said Sean Keohane, president and chief executive officer of Cabot Corporation. "His business knowledge and commercial expertise have been critical to our success. On behalf of the Company, I would like to thank Bart for his many years of service and know that his significant contributions will have a lasting positive effect on Cabot."

Wood joined Cabot from BP, plc in 2010, and, prior to his current role, has held a variety of regional and global commercial, marketing and strategy, operational and general management roles with increasing responsibility within Cabot's Reinforcement Materials, Specialty Compounds, and former cesium formate businesses. Matt brings significant business experience within the Reinforcement Materials segment, having previously served as vice president of global marketing and Asia Pacific regional marketing director. In his current role as vice president, global marketing and strategy for the Company's Battery Materials product line, he has been instrumental in developing and driving the business's growth strategy.

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Keohane added, "Matt brings a well-rounded background to his new role, with deep commercial and strategy expertise, hands-on operational leadership, and a proven track record as a disciplined and decisive business leader. He is also one of our most global executives, having worked for Cabot in Europe, the United States, and Asia. I have developed a strong appreciation for his business acumen and strategic insight, and as a member of our corporate leadership team, he has demonstrated a passion for leading teams and developing talent and is recognized as a strong and highly respected leader across the Company. I have full confidence in Matt's ability to lead the Reinforcement Materials team and deliver growth for Cabot in the coming years."

**About Cabot Corporation** 

Cabot Corporation (NYSE: CBT) is a global specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company is a leading provider of <u>reinforcing carbons</u>, <u>specialty carbons</u>, <u>battery materials</u>, <u>engineered elastomer</u> <u>composites</u>, <u>inkjet colorants</u>, <u>masterbatches and conductive compounds</u>, <u>fumed metal oxides</u> and <u>aerogel</u>. For more information on Cabot, please visit the company's website at <u>cabotcorp.com</u>. The Company regularly posts important information on its website and encourages investors and potential investors to consult the Cabot website regularly.

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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.