Current Report · Items 5.02, 9.01 · 8-K
Coffee Holding Co., Inc.
JVANASDAQEQUITYCurrent
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 29, 2026, the compensation committee (the “Committee”) of the board of directors of Coffee Holding Co., Inc., a Nevada corporation (the “Company”) authorized and approved Amendment No.…
Disclosure sections
Item 5.02Item 5.02 - Departure/Election of Directors
Item
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On
August 29, 2026, the compensation committee (the “Committee”) of the board of directors of Coffee Holding Co., Inc., a Nevada
corporation (the “Company”) authorized and approved Amendment No. 2 to the Amended and Restated Employment Agreement by and
between the Company and Andrew Gordon, the Company’s President and Chief Executive Officer (the “Employment Agreement”).
Amendment No. 2 was executed by the Company and Mr. Gordon on August 31, 2026.
The
changes to the Employment Agreement resulting from Amendment No. 2 are to:
Restore
Mr. Gordon’s base salary to $450,000 per annum effective as of February 1, 2026, effectively
reversing Amendment No. 1 to the Employment Agreement which had decreased Mr. Gordon’s
base salary to $80,000 per annum. Amendment No. 2 provides for Mr. Gordon to receive a make-whole
payment as soon as practicable after Amendment No. 2 is executed for the amount of base salary
he would have received since February 1, 2026 had his base salary been paid at the rate of
$450,000 per annum; and
Eliminate
the incentive bonus that had been provided for in Amendment No. 1 to the Employment Agreement.
Under Amendment No. 1, Mr. Gordon would have been eligible for an incentive bonus in the
amount of $1.6 million if he remained employed with the Company until January 1, 2030.
The
foregoing description of Amendment No. 2 is a summary only and is qualified in its entirety by reference to the full text of Amendment
No. 2, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.