Exhibit
10.1


AMENDMENT NO. 1


to


EMPLOYMENT AGREEMENT


(Farmer Bros. Co. / Laverty)


 


 


                The Employment Agreement (“Agreement”)
dated June 2, 2006 between FARMER BROS. CO. (“Company”), and  ROGER M. LAVERTY III (“Laverty”) is amended
as set forth below, effective at the commencement of the Company’s 2007 Annual
Meeting of Stockholders:


 


                1.             Section 3 is amended to read it its entirety as
follows:


 


“3.           Duties:  Commencing at the start of the Company’s 2007
Annual Meeting of Stockholders, Laverty shall serve as President and Chief
Executive Officer of the Company, reporting to the Board of Directors (“Board”)
and, subject to the oversight and control of the Board, shall have the powers,
general duties and responsibilities typically vested in a chief executive officer,
including without limitation the lead responsibility for the development and
implementation of the Company’s strategic plans, and, unless delegated by the
Board to another executive officer, primary responsibility for the development
and implementation of operating plans and day-to-day overall management of the
Company’s business.  In addition to his
general duties and responsibilities, Laverty shall also perform such other
duties as are directed by the Board and are consistent with his position.  Laverty shall devote to the Company’s
business substantially all of his working time. 
The foregoing notwithstanding, Laverty may continue to serve as a
director of First Coastal Bank or its successor so long as such service does
not, in the reasonable judgment of the Board, adversely affect the
Company.  Service as a director or
equivalent of other for-profit organizations shall require approval of the
Board.”


 


                2.             The second sentence of Section 3 is amended to
read:


 


“The
Target Award shall be such amount as the Compensation Committee shall
determine.”


 


                3.             The second sentence of Section 5 is amended to
read:


 


“For
the avoidance of doubt, Laverty’s benefit package includes use of a Company car
or an equivalent car allowance and twenty-five (25) days paid vacation days per
year on the conditions set forth in the Company’s vacation policy.”


 


 


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                4.             In all other respects, the June 2, 2006 Employment
Agreement is ratified and approved.


	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dated:
  December 5, 2007

  	
   

  	
   

  	
   

  	
  FARMER
  BROS. CO.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
  by:

  	
  /s/
  Guenter W. Berger

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Guenter
  W. Berger

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Chairman
  and CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Dated:
  December 5, 2007

  	
   

  	
   

  	
   

  	
   

  	
  /s/
  Roger M. Laverty III

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Roger
  M. Laverty III

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
									



 


 


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