Coffee Holding restores CEO Gordon's $450,000 salary, drops $1.6 million bonus
Coffee Holding's compensation committee approved and the company and CEO Andrew Gordon signed Amendment No. 2 to his employment agreement, which restores his base salary to $450,000 a year retroactive to February 1, 2026. The amendment reverses Amendment No. 1, which had cut his salary to $80,000, and provides a make-whole payment for the salary difference. It also eliminates a $1.6 million incentive bonus that Amendment No. 1 would have paid if he stayed through January 1, 2030, which affects the company's future compensation costs for its chief executive.
Key points
- Base salary restored to $450,000 per year, effective February 1, 2026, reversing the prior cut to $80,000.
- Make-whole payment due as soon as practicable after signing, covering the salary he would have received since February 1, 2026 at the $450,000 rate; the filing does not state a total amount.
- Incentive bonus of $1.6 million under Amendment No. 1, payable if employed through January 1, 2030, is eliminated.
- Committee approved the amendment August 29, 2026; executed August 31, 2026; full text filed as Exhibit 10.1.
The filing
Written by AI on Nov 9, 2026, 8:28 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 31, 2026.
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