Coffee Holding restores CEO salary to $450,000
COFFEE HOLDING CO., INC.
Rhea-AI Filing Summary
COFFEE HOLDING CO., INC. (JVA) reported that the compensation committee approved Amendment No. 2 to the Amended and Restated Employment Agreement with President and CEO Andrew Gordon. The amendment restores his base salary to $450,000 per annum effective February 1, 2026, reversing a prior reduction to $80,000 per annum. Mr. Gordon will receive a make-whole payment for the difference in base salary he would have earned since February 1, 2026 at the restored rate. Amendment No. 2 also eliminates the $1.6 million incentive bonus opportunity that had been provided under Amendment No. 1, which required continued employment through January 1, 2030.
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Filing Explained
The amendment moves from compensation-committee approval on August 29 to execution by the company and Andrew Gordon on August 31: the executed agreement restores his
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Restored base salary: $450,000 per annum
Prior reduced base salary: $80,000 per annum
Incentive bonus eliminated: $1.6 million
+3 more
6 metrics
Restored base salary
$450,000 per annum
Base salary for Andrew Gordon effective as of February 1, 2026
Prior reduced base salary
$80,000 per annum
Base salary level under Amendment No. 1 before restoration
Incentive bonus eliminated
$1.6 million
Potential bonus if Andrew Gordon remained employed until January 1, 2030
Effective date of restored salary
February 1, 2026
Date from which the $450,000 per annum salary applies
Execution date of Amendment No. 2
August 31, 2026
Date Company and Andrew Gordon executed Amendment No. 2
Bonus service-through date
January 1, 2030
Employment date requirement for the eliminated $1.6 million bonus
Key Terms
Amended and Restated Employment Agreement, compensation committee, make-whole payment, incentive bonus, +1 more
5 terms
Amended and Restated Employment Agreement regulatory
"Amendment No. 2 to the Amended and Restated Employment Agreement by and between"
compensation committee regulatory
"the compensation committee (the “Committee”) of the board of directors"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
make-whole payment financial
"Amendment No. 2 provides for Mr. Gordon to receive a make-whole payment"
incentive bonus financial
"Eliminate the incentive bonus that had been provided for in Amendment No. 1"
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
What executive compensation change did COFFEE HOLDING CO., INC. (JVA) disclose for its CEO?
The company restored CEO Andrew Gordon’s base salary to $450,000 per annum effective February 1, 2026, reversing a prior cut to $80,000 per annum, and removed a potential $1.6 million incentive bonus tied to continued employment through January 1, 2030.
From what amount was the JVA CEO’s salary previously reduced and then restored?
Andrew Gordon’s base salary had been reduced to $80,000 per annum under Amendment No. 1 and is now restored to $450,000 per annum effective February 1, 2026 under Amendment No. 2.
Will JVA’s CEO receive a make-whole payment under the new amendment?
Yes. Andrew Gordon will receive a make-whole payment for the base salary he would have received since February 1, 2026 if he had been paid at the restored rate of $450,000 per annum.
What happens to the $1.6 million incentive bonus under JVA’s CEO agreement?
Amendment No. 2 eliminates the $1.6 million incentive bonus that had been available under Amendment No. 1, which would have been earned if Andrew Gordon remained employed until January 1, 2030.
When was Amendment No. 2 to JVA’s CEO employment agreement executed?
Amendment No. 2 to the Amended and Restated Employment Agreement between COFFEE HOLDING CO., INC. and Andrew Gordon was executed on August 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
