Coffee Holding cuts CEO pay, adds $1.6M bonus
Coffee Holding Co., Inc. updated the employment terms of its President, Chief Executive Officer, Chief Financial Officer and Treasurer, Andrew Gordon.
Rhea-AI Filing Summary
Coffee Holding Co., Inc. updated the employment terms of its President, Chief Executive Officer, Chief Financial Officer and Treasurer, Andrew Gordon. Effective with this amendment, his base salary is reduced from $325,000 to $80,000 per year. In exchange, he is granted the right to receive an incentive bonus of $1.6 million if he remains employed with the company until January 1, 2030, with payment to be made by March 16, 2030. The amendment also provides that Gordon must sign a general release in order to receive severance benefits, tightening the conditions under which severance will be paid.
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FAQ
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What executive compensation changes did Coffee Holding (JVA) disclose?
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How does the new Coffee Holding (JVA) incentive bonus work for Andrew Gordon?
What are the new severance conditions for Coffee Holding’s CEO Andrew Gordon?
Did Coffee Holding (JVA) reduce Andrew Gordon’s salary in the new amendment?
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