# EDGAR Filing Document

**Accession Number:** 0000034563
**File Stem:** 0000034563-25-000087
**Filing Date:** 2025-11
**Character Count:** 254096
**Document Hash:** 61172de3e864df88ba66f57c092361f4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000034563-25-000087.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0000034563-25-000087

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 103

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FARMER BROTHERS CO
- **CENTRAL INDEX KEY:** 0000034563
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS FOOD PREPARATIONS & KINDRED PRODUCTS [2090]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 950725980
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34249
- **FILM NUMBER:** 251459356

**BUSINESS ADDRESS:**
- **STREET 1:** 14501 N. FREEWAY
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76177
- **BUSINESS PHONE:** 888 998 2468

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 77057
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76177

?xml version='1.0' encoding='ASCII'? farm-20250930

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q** 

**(Mark One)**

---

| | |
|:---|:---|
| ☑ | **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |

---

**For the quarterly period ended September 30, 2025** 

**OR**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**Commission file number: 001-34249** 

**FARMER BROS. CO.** 

(Exact Name of Registrant as Specified in Its Charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | | **95-0725980** |
| (State or Other Jurisdiction of Incorporation of Organization) |  | (I.R.S. Employer Identification No.) |
| **14501 N Fwy, Fort Worth, Texas 76177** | **14501 N Fwy, Fort Worth, Texas 76177** | **14501 N Fwy, Fort Worth, Texas 76177** |
| (Address of Principal Executive Offices; Zip Code) | (Address of Principal Executive Offices; Zip Code) | (Address of Principal Executive Offices; Zip Code) |
| **682-549-6600** | **682-549-6600** | **682-549-6600** |
| (Registrant's Telephone Number, Including Area Code) | (Registrant's Telephone Number, Including Area Code) | (Registrant's Telephone Number, Including Area Code) |
| (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) | (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) | (Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report) |
| **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** | **Securities registered pursuant to Section 12(b) of the Act:** |
| **Title of Each Class** | **Trading Symbol(s)** | **Name of Each Exchange on Which Registered** |
| **Common Stock, par value $1.00 per share** | **FARM** | **Nasdaq Global Select Market** |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;NO ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).&nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;NO ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☒ |
| | | Emerging growth company | ☐ |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act | ☐ |

---

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;

YES ☐ NO ☒

As of October 31, 2025, the registrant had 21,602,012 shares outstanding of its common stock, par value $1.00 per share, which is the registrant's only class of common stock.

------

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| | **Page** |
| <u>[PART I – FINANCIAL INFORMATION (UNAUDITED)](#i6a7df333137e41f98b9c3c0f37bf27d3_10)</u> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 1. Financial Statements](#i6a7df333137e41f98b9c3c0f37bf27d3_10)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[1](#i6a7df333137e41f98b9c3c0f37bf27d3_10)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Consolidated Balance Sheets at September 30, 2025 and June 30, 2025](#i6a7df333137e41f98b9c3c0f37bf27d3_13)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[1](#i6a7df333137e41f98b9c3c0f37bf27d3_13)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Consolidated Statements of Operations for the Three Months Ended September 30, 2025 and 2024](#i6a7df333137e41f98b9c3c0f37bf27d3_16)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[2](#i6a7df333137e41f98b9c3c0f37bf27d3_16)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Consolidated Statements of Comprehensive Loss for the Three Months Ended September 30, 2025 and 2024](#i6a7df333137e41f98b9c3c0f37bf27d3_19)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[3](#i6a7df333137e41f98b9c3c0f37bf27d3_19)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Consolidated Statements of Stockholders' Equity for the Three Months Ended September 30, 2025 and 2024](#i6a7df333137e41f98b9c3c0f37bf27d3_22)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[4](#i6a7df333137e41f98b9c3c0f37bf27d3_22)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2025 and 2024](#i6a7df333137e41f98b9c3c0f37bf27d3_25)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[5](#i6a7df333137e41f98b9c3c0f37bf27d3_25)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>[Notes to Consolidated Financial Statements](#i6a7df333137e41f98b9c3c0f37bf27d3_28)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[6](#i6a7df333137e41f98b9c3c0f37bf27d3_28)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](#i6a7df333137e41f98b9c3c0f37bf27d3_88)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[16](#i6a7df333137e41f98b9c3c0f37bf27d3_88)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>Item 3. Quantitative and Qualitative Disclosures About Market Risk</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[22](#i6a7df333137e41f98b9c3c0f37bf27d3_1145)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 4. Controls and Procedures](#i6a7df333137e41f98b9c3c0f37bf27d3_106)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[22](#i6a7df333137e41f98b9c3c0f37bf27d3_106)</u> |
| <u>[PART II – OTHER INFORMATION](#i6a7df333137e41f98b9c3c0f37bf27d3_109)</u> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 1. Legal Proceedings](#i6a7df333137e41f98b9c3c0f37bf27d3_112)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[23](#i6a7df333137e41f98b9c3c0f37bf27d3_112)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 1A. Risk Factors](#i6a7df333137e41f98b9c3c0f37bf27d3_115)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[23](#i6a7df333137e41f98b9c3c0f37bf27d3_115)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#i6a7df333137e41f98b9c3c0f37bf27d3_118)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[23](#i6a7df333137e41f98b9c3c0f37bf27d3_118)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 3. Defaults Upon Senior Securities](#i6a7df333137e41f98b9c3c0f37bf27d3_121)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[23](#i6a7df333137e41f98b9c3c0f37bf27d3_121)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 4. Mine Safety Disclosures](#i6a7df333137e41f98b9c3c0f37bf27d3_124)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[23](#i6a7df333137e41f98b9c3c0f37bf27d3_124)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 5. Other Information](#i6a7df333137e41f98b9c3c0f37bf27d3_127)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[23](#i6a7df333137e41f98b9c3c0f37bf27d3_127)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Item 6. Exhibits](#i6a7df333137e41f98b9c3c0f37bf27d3_130)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[24](#i6a7df333137e41f98b9c3c0f37bf27d3_130)</u> |
| <u>[SIGNATURES](#i6a7df333137e41f98b9c3c0f37bf27d3_133)</u> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>[25](#i6a7df333137e41f98b9c3c0f37bf27d3_133)</u> |

---

------

**PART I - FINANCIAL INFORMATION (UNAUDITED)**

**Item 1. Financial Statements**

**FARMER BROS. CO.**

**CONSOLIDATED BALANCE SHEETS (UNAUDITED)**

**(In thousands, except share and per share data)**

---

| | | |
|:---|:---|:---|
| | **September 30, 2025** | **June 30, 2025** |
| ASSETS |  |  |
| Current assets: |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $3821 | $6796 |
| &nbsp;&nbsp;Restricted cash | 178 | 178 |
| &nbsp;&nbsp;Accounts receivable, net of allowance for credit losses of $652 and $650, respectively  | 23731 | 24758 |
| &nbsp;&nbsp;Inventories | 55192 | 49839 |
| &nbsp;&nbsp;Prepaid expenses | 4371 | 3975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 87293 | 85546 |
| Property, plant and equipment, net | 26700 | 27845 |
| Intangible assets, net | 8483 | 9033 |
| Right-of-use operating lease assets | 35910 | 38347 |
| Other assets | 396 | 461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $158782 | $161232 |
| LIABILITIES AND STOCKHOLDERS' EQUITY |  |  |
| Current liabilities: |  |  |
| &nbsp;&nbsp;Accounts payable | 41456 | 37669 |
| &nbsp;&nbsp;Accrued payroll expenses | 8575 | 12692 |
| &nbsp;&nbsp;Right-of-use operating lease liabilities - current | 16040 | 16773 |
| &nbsp;&nbsp;Other current liabilities | 4085 | 3893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 70156 | 71027 |
| Long-term borrowings under revolving credit facility | 18300 | 14300 |
| Accrued pension liabilities | 6945 | 7322 |
| Accrued workers' compensation liabilities | 2619 | 2619 |
| Right-of-use operating lease liabilities - noncurrent | 20512 | 22195 |
| Other long-term liabilities | 245 | 221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | $118777 | $117684 |
| Commitments and contingencies |  |  |
| Stockholders' equity: |  |  |
| &nbsp;&nbsp;Common stock, $1.00 par value, 50,000,000 shares authorized; 21,602,012 and 21,560,985 shares issued and outstanding as of September 30, 2025 and June 30, 2025, respectively | 21602 | 21561 |
| &nbsp;&nbsp;Additional paid-in capital | 82107 | 81666 |
| &nbsp;&nbsp;Accumulated deficit | (48895) | (44870) |
| &nbsp;&nbsp;Accumulated other comprehensive loss | (14809) | (14809) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total stockholders' equity | $40005 | $43548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and stockholders' equity | $158782 | $161232 |

---

The accompanying notes are an integral part of these unaudited consolidated financial statements.

------

**FARMER BROS. CO.**

**CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)**

**(In thousands, except share and per share data)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** |
| Net sales | $81601 | $85066 |
| Cost of goods sold | 49165 | 47748 |
| Gross profit | 32436 | 37318 |
| Selling expenses | 25803 | 27228 |
| General and administrative expenses | 8797 | 11252 |
| Net losses on disposal of assets | 1017 | 1666 |
| Operating expenses | 35617 | 40146 |
| Loss from operations | (3181) | (2828) |
| Other (expense) income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (1324) | (1791) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 480 | (250) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense | (844) | (2041) |
| Loss before taxes | (4025) | (4869) |
| Income tax expense |  | 133 |
| Net loss | $(4025) | $(5002) |
| Net loss available to common stockholders per common share, basic and diluted | $(0.19) | $(0.24) |
| Weighted average common shares outstanding—basic and diluted | 21593843 | 21263245 |

---

The accompanying notes are an integral part of these unaudited consolidated financial statements.

------

**FARMER BROS. CO.**

 **CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)**

**(In thousands)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** |
| Net loss | $(4025) | $(5002) |
| Other comprehensive income (loss), net of taxes: |  |  |
| Unrealized gains on derivatives designated as cash flow hedges |  | 7 |
| Gain on derivatives designated as cash flow hedges reclassified to cost of goods sold |  | (122) |
| Total comprehensive loss | $(4025) | $(5117) |

---

The accompanying notes are an integral part of these unaudited consolidated financial statements.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **FARMER BROS. CO.<br>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) <br>(In thousands, except share and per share data)** | **FARMER BROS. CO.<br>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) <br>(In thousands, except share and per share data)** | **FARMER BROS. CO.<br>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) <br>(In thousands, except share and per share data)** | **FARMER BROS. CO.<br>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) <br>(In thousands, except share and per share data)** | **FARMER BROS. CO.<br>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) <br>(In thousands, except share and per share data)** | **FARMER BROS. CO.<br>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) <br>(In thousands, except share and per share data)** | **FARMER BROS. CO.<br>CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) <br>(In thousands, except share and per share data)** |
| | **Common<br>Shares** | **Common Stock<br>Amount** | **Additional<br>Paid-in<br>Capital** | **Retained Earnings (Accumulated Deficit)** | **Accumulated<br>Other<br>Comprehensive<br>Loss** | **Total** |
| **Balance at June 30, 2025** | **21560985** | $**21561** | $**81666** | $**(44870)** | $**(14809)** | $**43548** |
| Net loss |  |  |  | (4025) |  | (4025) |
| Share-based compensation |  |  | 482 |  |  | 482 |
| Issuance of common stock and stock option exercises | 41027 | 41 | (41) |  |  |  |
| **Balance at September 30, 2025** | **21602012** | $**21602** | $**82107** | $**(48895)** | $**(14809)** | $**40005** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Common<br>Shares** | **Common Stock<br>Amount** | **Additional<br>Paid-in<br>Capital** | **Retained Earnings (Accumulated Deficit)** | **Accumulated<br>Other<br>Comprehensive<br>Loss** | **Total** |
| **Balance at June 30, 2024** | **21264327** | $**21265** | $**79963** | $**(30354)** | $**(25325)** | $**45549** |
| Net loss |  |  |  | (5002) |  | (5002) |
| Cash flow hedges, net of taxes |  |  |  |  | (116) | (116) |
| Share-based compensation |  |  | 495 |  |  | 495 |
| Issuance of common stock and stock option exercises | 3896 | 3 | (3) |  |  |  |
| **Balance at September 30, 2024** | **21268223** | $**21268** | $**80455** | $**(35356)** | $**(25441)** | $**40926** |

---

The accompanying notes are an integral part of these unaudited consolidated financial statements.

------

---

| | | |
|:---|:---|:---|
| **FARMER BROS. CO.** | **FARMER BROS. CO.** | **FARMER BROS. CO.** |
| **CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)** | **CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)** | **CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)** |
| **(In thousands)** | **(In thousands)** | **(In thousands)** |
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
|  | **2025** | **2024** |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;Net loss | $(4025) | $(5002) |
| Adjustments to reconcile net (loss) income to net cash provided (used in) by operating activities |  |  |
| &nbsp;&nbsp;Depreciation and amortization | 2614 | 2897 |
| &nbsp;&nbsp;Net losses on disposal of assets | 1017 | 1666 |
| &nbsp;&nbsp;Net losses on derivative instruments |  | 1310 |
| &nbsp;&nbsp;401(k) and share-based compensation expense | 482 | 495 |
| &nbsp;&nbsp;Provision for credit losses | 148 | 79 |
| &nbsp;&nbsp;Change in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 880 | 396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories | (5353) | (385) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative assets, net |  | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | (331) | (461) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 3815 | 1208 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other | (4254) | 207 |
| Net cash (used in) provided by operating activities | $(5007) | $2493 |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;Purchases of property, plant and equipment | (1932) | (3330) |
| &nbsp;&nbsp;Proceeds from sales of property, plant and equipment | 13 | 26 |
| Net cash used in investing activities | $(1919) | $(3304) |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;Proceeds from Credit Facilities | 4000 | 3000 |
| &nbsp;&nbsp;Repayments on Credit Facilities |  | (3000) |
| &nbsp;&nbsp;Payments of finance lease obligations | (49) | (48) |
| &nbsp;&nbsp;Payment of financing costs |  | (8) |
| Net cash provided by (used in) financing activities | $3951 | $(56) |
| Net (decrease) in cash and cash equivalents and restricted cash | (2975) | (867) |
| Cash and cash equivalents and restricted cash at beginning of period | 6974 | 6005 |
| Cash and cash equivalents and restricted cash at end of period | $3999 | $5138 |

---

---

| | | |
|:---|:---|:---|
| Supplemental disclosure of non-cash investing and financing activities: |  |  |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $1568 | $1745 |
| Non cash additions to property, plant and equipment | 28 | 27 |

---

The accompanying notes are an integral part of these unaudited consolidated financial statements.

------

**FARMER BROS. CO.**

**NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 1. Introduction and Basis of Presentation**

Farmer Bros. Co., a Delaware corporation (including its consolidated subsidiaries unless the context otherwise requires, the "Company," or "Farmer Bros."), is a leading coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and other allied products. The Company serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers like restaurants, department and convenience store retailers, hotels, casinos, healthcare facilities, and gourmet coffee houses, as well as grocery chains with private brand and consumer-branded coffee and tea products, and foodservice distributors.

***Basis of Presentation***

The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States ("GAAP") for complete consolidated financial statements. In the opinion of management, all adjustments considered necessary for a fair presentation of the interim financial data have been included. Operating results for the three months ended September 30, 2025 are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2026.

The accompanying unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed with the Securities and Exchange Commission (the "SEC") on September 11, 2025, as amended by the Form 10-K/A filed on October 24, 2025 (as amended, the "2025 Form 10-K").

***Principles of Consolidation***

The consolidated financial statements include the accounts of the Company and its direct and indirect wholly owned subsidiaries. All intercompany balances and transactions have been eliminated.

***Use of Estimates***

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company reviews its estimates on an ongoing basis using currently available information. Changes in facts and circumstances may result in revised estimates and actual results may differ from those estimates.

**Note 2. Summary of Significant Accounting Policies**

For a detailed discussion about the Company's significant accounting policies, see Note 2, "*Summary of Significant Accounting Policies,*" in the Notes to Consolidated Financial Statements in the 2025 Form 10-K.

During the three months ended September 30, 2025, there were no significant updates made to the Company's significant accounting policies.

***Cash Equivalents***

At September 30, 2025, we had $3.8 million of unrestricted cash and cash equivalents and $0.2 million in restricted cash. The restricted cash is related to a third party service agreement.

***Concentration of Credit Risk***

At September 30, 2025 and June 30, 2025, the financial instruments which potentially expose the Company to concentration of credit risk consist of cash in financial institutions (in excess of federally insured limits) and trade receivables.

The Company estimates its credit risk for accounts receivable at the amount recorded on the balance sheet. The accounts receivable are generally short-term and all estimated credit losses have been appropriately considered in establishing the allowance for credit losses. There were no individual customers with balances over 10% of the Company's accounts receivable balance.

***Recent Accounting Pronouncements***

The Company considers the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board (the "FASB"). ASUs not listed below were assessed and either determined to be not

------

**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

applicable or expected to have minimal impact on its consolidated financial statements.

The following table provides a brief description of the recent ASUs applicable to the Company:

---

| | | | |
|:---|:---|:---|:---|
| **Standard** | **Description** | **Effective Date** | **Effect on the Financial Statements or Other Significant Matters** |
| In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740)", Improvements to Income Tax Disclosures | The amendments in this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. | Effective for <br>annual periods beginning after December 15, 2024. | The Company is still evaluating the impact of this standard. |
| In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures. | The amendments in this Update are to improve the disclosures about a public business entity's expenses and address requests for more detailed information about the types of expenses in commonly presented expense captions. | Effective for <br>annual periods beginning after December 15, 2026. | The Company is still evaluating the impact of this standard. |

---

**Note 3. Leases**

The Company has entered into leases for building facilities, vehicles and other equipment. The Company's leases have remaining contractual terms through March 31, 2032, some of which have options to extend the lease for up to 10 years. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease renewal until it is reasonably certain that the Company will exercise that option. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of lease expense are as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **<u>(In thousands)</u>** | **2025** | **2024** |
| Operating lease expense | $4695 | $4230 |
| Finance lease expense: |  |  |
| &nbsp;&nbsp;&nbsp;Amortization of finance lease assets | 41 | 41 |
| &nbsp;&nbsp;&nbsp;Interest on finance lease liabilities | 1 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total lease expense | $4737 | $4275 |

---

Maturities of lease liabilities are as follows:

---

| | | |
|:---|:---|:---|
| | **September 30, 2025** | **September 30, 2025** |
| **<u>(In thousands)</u>** | **Operating Leases** | **Finance Leases** |
| 2026 | $12603 | $48 |
| 2027 | 11657 |  |
| 2028 | 8428 |  |
| 2029 | 5060 |  |
| 2030 | 1818 |  |
| Thereafter | 1204 |  |
| &nbsp;&nbsp;&nbsp;Total lease payments | 40770 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: interest | (4218) |  |
| &nbsp;&nbsp;&nbsp;Total lease obligations | $36552 | $48 |

---

Lease term and discount rate:

---

| | | |
|:---|:---|:---|
| | **September 30, 2025** | **June 30, 2025** |
| Weighted-average remaining lease terms (in years): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease | 3.9 | 4.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance lease | 0.3 | 0.5 |
| Weighted-average discount rate: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating lease | 6.55% | 6.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance lease | 6.50% | 6.50% |

---

Other Information:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **(In thousands)** | **2025** | **2024** |
| Cash paid for amounts included in the measurement of lease liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating cash flows from operating leases | $4626 | $3913 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating cash flows from finance leases | 1 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Financing cash flows from finance leases | 48 | 48 |

---

------

**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

**Note 4. Derivative Instruments**

***Derivative Instruments Held***

*Coffee-Related Derivative Instruments*

The Company is exposed to commodity price risk associated with its price to be fixed green coffee purchase contracts, which are described further in Note 2, "*Summary of Significant Accounting Policies*," in the Notes to the Consolidated Financial Statements in the 2025 Form 10-K. The Company utilizes forward and option contracts to manage exposure to the variability in expected future cash flows from forecasted purchases of green coffee attributable to commodity price risk. Certain of these coffee-related derivative instruments utilized for risk management purposes have been designated as cash flow hedges, while other coffee-related derivative instruments have not been designated as cash flow hedges or do not qualify for hedge accounting despite hedging the Company's future cash flows on an economic basis.

All derivative instruments designated and not designated as cash flow hedges were settled as of March 2025.

*Statements of Operations and Statement of Comprehensive Income (Loss)*

The following table presents pretax net gains and losses for the Company's derivative instruments designated as cash flow hedges, as recognized in "AOCI" and "Cost of goods sold".

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Financial Statement Classification** |
| **<u>(In thousands)</u>** | **2024** | **Financial Statement Classification** |
| Net gains recognized in AOCI - Coffee-related | 7 | AOCI |
| Net gains recognized in earnings - Coffee-related | 122 | Cost of goods sold |

---

For the three months ended September 30, 2025 and 2024, there were no gains or losses recognized in earnings as a result of excluding amounts from the assessment of hedge effectiveness.

Net losses on derivative instruments in the Company's consolidated statements of cash flows include net losses on coffee-related derivative instruments designated as cash flow hedges reclassified to cost of goods sold from AOCI. Gains and losses on coffee-related derivative instruments not designated as accounting hedges are included in "Other, net" in the Company's consolidated statements of operations and in Net losses on derivative instruments in the Company's consolidated statements of cash flows.

Net losses recorded in "Other, net" are as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **<u>(In thousands)</u>** | **2025** | **2024** |
| Net losses on coffee-related derivative instruments (1) | $— | $(1431) |
| Non-operating pension and other postretirement benefits | 488 | 1012 |
| Other gains, net | (8) | 169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other, net | $480 | $(250) |

---

___________

(1) Excludes net losses on coffee-related derivative instruments designated as cash flow hedges recorded in cost of goods sold in the three months ended September 30, 2024.

***Offsetting of Derivative Assets and Liabilities***

The Company has agreements in place that allow for the financial right of offset for derivative assets and liabilities at settlement or in the event of default under the agreements. Additionally, under certain coffee derivative agreements, the Company maintains accounts with its counterparties to facilitate financial derivative transactions in support of its risk management activities.

***Cash Flow Hedges***

Changes in the fair value of the Company's coffee-related derivative instruments designated as cash flow hedges are deferred in AOCI and subsequently reclassified into cost of goods sold in the same period or periods in which the hedged forecasted purchases affect earnings, or when it is probable that the hedged forecasted transaction will not occur by the end of the originally specified time period.

------

**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

**Note 5. Accounts Receivable, Net**

---

| | | |
|:---|:---|:---|
| **<u>(In thousands)</u>** | **September 30, 2025** | **June 30, 2025** |
| Trade receivables | $23337 | $24332 |
| Other receivables (1) | 1046 | 1076 |
| Allowance for credit losses | (652) | (650) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | $23731 | $24758 |

---

__________

(1) Includes vendor rebates and other non-trade receivables.

There was no material change in the allowance for credit losses during the three months ended September 30, 2025.

**Note 6. Inventories**

---

| | | |
|:---|:---|:---|
| **<u>(In thousands)</u>** | **September 30, 2025** | **June 30, 2025** |
| Coffee |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Processed | $22060 | $21174 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unprocessed | 7198 | 5813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | $29258 | $26987 |
| Tea and culinary products |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Processed | 22806 | 19807 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unprocessed | 37 | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | $22843 | $19841 |
| Coffee brewing equipment parts | 3091 | 3011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total inventories | $55192 | $49839 |

---

In addition to product cost, inventory costs include expenditures such as direct labor and certain supply, freight, warehousing, overhead variances, purchase price variance and other expenses incurred in bringing the inventory to its existing condition and location. The "Unprocessed" inventory values as stated in the above table represent the value of raw materials and the "Processed" inventory values represent all other products consisting primarily of finished goods.

**Note 7. Property, Plant and Equipment**

---

| | | |
|:---|:---|:---|
| **<u>(In thousands)</u>** | **September 30, 2025** | **June 30, 2025** |
| Buildings and facilities | $20258 | $20288 |
| Machinery, vehicles and equipment | 80081 | 85495 |
| Capitalized software | 10030 | 9983 |
| Office furniture and equipment | 6644 | 6660 |
|  | $117013 | $122426 |
| Accumulated depreciation | (91231) | (95499) |
| Land | 918 | 918 |
| Property, plant and equipment, net | $26700 | $27845 |

---

***Coffee Brewing Equipment ("CBE") and Service***

Capitalized CBE included in machinery, vehicles and equipment above are:

---

| | | |
|:---|:---|:---|
| **<u>(In thousands)</u>** | **September 30, 2025** | **June 30, 2025** |
| Coffee Brewing Equipment | $49066 | $52757 |
| Accumulated depreciation | (30015) | (31124) |
| &nbsp;&nbsp;&nbsp;&nbsp;Coffee Brewing Equipment, net | $19051 | $21633 |

---

Depreciation expense related to capitalized CBE and other CBE related expenses provided to customers and reported in cost of goods sold were as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **<u>(In thousands)</u>** | **2025** | **2024** |
| Depreciation expense in COGS | $1529 | $1887 |
| CBE Costs excl. depreciation exp | 7045 | 7206 |

---

Other expenses related to CBE provided to customers, such as the cost of servicing that equipment (including service employees' salaries, cost of transportation and the cost of supplies and parts), are considered directly attributable to the generation of revenues from the customers. Therefore, these costs are included in cost of goods sold.

------

**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

**Note 8. Intangible Assets**

The following is a summary of the Company's amortized and unamortized intangible assets:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** | **June 30, 2025** |
| **<u>(In thousands)</u>** |<br>**Weighted Average Amortization Period as of September 30, 2025** | **Gross Carrying<br>Amount** | **Accumulated<br>Amortization** | **Net** | **Gross Carrying<br>Amount** | **Accumulated<br>Amortization** | **Net** |
| Amortized intangible assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Customer relationships | 1.5 | $33003 | $(29042) | $3961 | $33003 | $(28492) | $4511 |
| Unamortized intangible assets: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Trademarks, trade names and brand name with indefinite lives |  | 4522 |  | 4522 | 4522 |  | 4522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total intangible assets |  | $37525 | $(29042) | $8483 | $37525 | $(28492) | $9033 |

---

Aggregate amortization expense for the three months ended September 30, 2025 and 2024 was $0.5 million and $0.5 million, respectively.

**Note 9. Employee Benefit Plans**

***Single Employer Pension Plans***

In the third quarter of fiscal 2025, we completed a full settlement of the defined benefit plan (the"Hourly Employees' Plan") through the purchase of nonparticipating annuities and lump sum elections. In the fourth quarter of fiscal 2025, we completed a partial settlement of the defined benefit plan (the "Farmer Bros. Plan") through the purchase of nonparticipating annuities and lump sum elections.

As of September 30, 2025, the Company has one defined benefit pension plan for certain employees, the Farmer Bros. Plan.

The net periodic benefit cost for the defined benefit pension plan is as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **<u>(In thousands)</u>** | **2025** | **2024** |
| Interest cost | $665 | $1216 |
| Expected return on plan assets | (550) | (1161) |
| Amortization of net loss (1) | 62 | 149 |
| Net periodic benefit cost | $177 | $204 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(1) These amounts represent the estimated portion of the net loss in AOCI that is expected to be recognized as a component of net periodic benefit cost over the current fiscal year.

***Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost***

---

| | | |
|:---|:---|:---|
| | **September 30, 2025** | **June 30, 2025** |
| Discount rate | 5.45% | 5.35% |
| Expected long-term return on plan assets | 7.00% | 7.00% |

---

***Multiemployer Pension Plans***

The Company participates in one multiemployer defined benefit pension plan that is union sponsored and collectively bargained for the benefit of certain employees subject to collective bargaining agreements, called the Western Conference of Teamsters Pension Plan ("WCTPP"). The Company makes contributions to this plan generally based on the number of hours worked by the participants in accordance with the provisions of negotiated labor contracts. The company also contributes to two defined contribution pension plans ("All Other Plans") that are union sponsored and collectively bargained for the benefit of certain employees subject to collective bargaining agreements.

Contributions made by the Company to the multiemployer pension plans were as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **<u>(In thousands)</u>** | **2025** | **2024** |
| Contributions to WCTPP | $360 | $371 |
| Contributions to All Other Plans | 16 | 10 |

---

***Multiemployer Plans Other Than Pension Plans***

The Company participates in nine multiemployer defined contribution plans other than pension plans that provide medical, vision, dental and disability benefits for active, union-represented employees subject to collective bargaining

------

**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

agreements. The plans are subject to the provisions of the Employee Retirement Income Security Act of 1974, and provide that participating employers make monthly contributions to the plans in an amount as specified in the collective bargaining agreements. Also, the plans provide that participants make self-payments to the plans, the amounts of which are negotiated through the collective bargaining process. The Company's participation in these plans is governed by collective bargaining agreements which expire on or before January 31, 2028.

***401(k) Plan***

Farmer Bros. Co. 401(k) Plan (the "401(k) Plan") is available to all eligible employees. The 401(k) Plan match portion, to the extent a match is approved by the Company's Board of Directors, is available to all eligible employees who have worked more than 1,000 hours during a calendar year and were employed at the end of the calendar year. Participants in the 401(k) Plan may choose to contribute a percentage of their annual pay subject to the maximum contribution allowed by the Internal Revenue Service. The Company's matching contribution is discretionary, based on approval by the Company's Board of Directors.

Effective August 1, 2024, the Company suspended the 401(k) matching program.

**Note 10. Debt Obligations**

The following table summarizes the Company's debt obligations:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **September 30, 2025** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** |
|<br>**(In thousands)** |<br>**Debt Origination Date** |<br>**Maturity** |<br>**Principal Borrowing Amount** | **Carrying Value** | **Weighted Average Interest Rate**  | **Carrying Value** | **Weighted Average Interest Rate**  |
| Revolver | Various | 4/26/2027 | N/A | $18300 | 6.15% | $14300 | 6.48% |

---

*Revolver Facility*

The Company maintains a senior secured credit facility composed of (a) the Revolver Credit Facility Agreement (as amended from time to time, the "Revolver Credit Facility Agreement") and various loan documents relating thereto including the Guaranty and Security Agreement, dated as of April 26, 2021 (the "Revolver Security Agreement" and, together with the Revolver Credit Facility Agreement, the "Revolver Agreements"), by and among the Borrowers, as grantors, and Wells Fargo, as administrative agent, and (b) a Credit Agreement, dated as of April 26, 2021 (the "Term Credit Facility Agreement") by and among the Borrowers, MGG Investment Group LP. ("MGG"), as administrative agent, and the lenders party thereto, and various loan documents relating thereto including the Guaranty and Security Agreement, dated as of April 26, 2021 (the "Term Security Agreement"), by and among the Borrowers, as grantors, and MGG, as administrative agent. The Revolver Credit Facility Agreement was subsequently amended by (i) that certain Increase Joinder and Amendment No. 2 to Credit Agreement, dated August 8, 2022, (ii) that certain Amendment No. 3 to Credit Agreement, dated August 31, 2022, (iii) that certain Consent and Amendment No. 4 to Credit Agreement, dated June 30, 2023 and (iv) that certain Consent and Amendment No. 5 to Credit Agreement, dated December 4, 2023. The Company has no outstanding loans under the Term Credit Facility Agreement. For a detailed discussion about the Company's Revolver Credit Facility Agreement and Term Credit Facility Agreement, see Note 12, "Debt Obligations" in the Notes to Consolidated Financial Statements in the 2025 Form 10-K.

The following is a summary description of the key terms of the Revolver Agreements as in effect as of the date hereof.

The Revolver Credit Facility Agreement, among other things, include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.a commitment of up to $75.0 million ("Revolver") calculated as the lesser of (a) $75.0 million or (b) the amount equal to the sum of (i) 85% of eligible accounts receivable (less a dilution reserve), plus (ii) the lesser of: (a) 80% of eligible raw material inventory, eligible in-transit inventory and eligible finished goods inventory (collectively, "Eligible Inventory"), and (b) 85% of the net orderly liquidation value of Eligible Inventory, minus (c) applicable reserve;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.sublimit on letters of credit of $10.0 million;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.maturity date of April 26, 2027 and has no scheduled payback required on the principal prior to the maturity date;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.fully collateralized by all existing and future capital stock of the Borrowers (other than the Company) and all of the Borrowers' personal and real property;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.interest under the Revolver is either if the relevant Obligation is a SOFR Loan, at a per annum rate equal to Term SOFR plus the SOFR Margin (1.75%), and otherwise, at a per annum rate equal to the Base Rate (the greater of the Federal Funds Rate + 0.5% or Term SOFR +1%) plus the Base Rate Margin (0.75%).; and

------

**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.in the event that Borrowers' availability to borrow under the Revolver falls below $9.375 million, the financial covenant requires the Company to meet or exceed a fixed charge coverage ratio of at least 1.00:1.00 at all such times.

The Revolver Agreements contain customary affirmative and negative covenants and restrictions typical for a financing of this type that, among other things, require the Company to satisfy certain financial covenants and restrict the Company's and its subsidiaries' ability to incur additional debt, pay dividends and make distributions, make certain investments and acquisitions, repurchase its stock and prepay certain indebtedness, create liens, enter into agreements with affiliates, modify the nature of its business, transfer and sell material assets and merge or consolidate. Non-compliance with one or more of the covenants and restrictions could result in the full or partial principal balance of the Revolver Credit Facility Agreement becoming immediately due and payable and termination of the commitments.

There are no required principal payments on the Revolver debt obligation.

At September 30, 2025, the Company had outstanding borrowings on the Revolver Credit Facility of $18.3 million and had utilized $4.7 million of the letters of credit sublimit. At September 30, 2025, we had $31.2 million available for borrowing under our Revolver Credit Facility.

As of September 30, 2025, the Company was in compliance with all of the financial covenants under the Revolver Credit Facility Agreement. Furthermore, the Company believes it will be in compliance with the related financial covenants under this agreement for the next 12 months.

**Note 11. Share-based Compensation**

***Farmer Bros. Co. Amended and Restated 2017 Long-Term Incentive Plan (the "2017 Plan")***

As of September 30, 2025, there were 508,706 shares available under the 2017 Plan including shares that were forfeited under the prior plans for future issuance.

***Farmer Bros. Co. 2020 Inducement Incentive Award Plan (the "2020 Inducement Plan")***

As of September 30, 2025, there were 6,246 shares available under the 2020 Inducement Plan.

***Non-qualified stock options with time-based vesting ("NQOs")***

One-third of the total number of shares subject to each stock option vest ratably on each of the first three anniversaries of the grant date, contingent on continued employment, and subject to accelerated vesting in certain circumstances. There were no NQOs granted, exercised or cancelled during the three months ended September 30, 2025.

As of September 30, 2025, there were 15,131 NQOs exercisable and outstanding with a weighted average remaining life of 1.0 year. The weighted average exercise price of NQO's was $16.87. The NQOs have an intrinsic value of zero at September 30, 2025.

***Restricted Stock Units ("RSUs")***

The following table summarizes restricted stock activity for the three months ended September 30, 2025:

---

| | | |
|:---|:---|:---|
| **<u>Outstanding and Nonvested Restricted Stock Awards:</u>** | **Shares<br>Awarded** | **Weighted Average<br>Grant Date Fair Value ($)** |
| Outstanding and nonvested at June 30, 2025 | 803175 | 2.54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Granted | 468750 | 1.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vested/Released | (54216) | 2.61 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cancelled/Forfeited |  |  |
| Outstanding and nonvested at September 30, 2025 | 1217709 | 2.27 |

---

The weighted average grant date fair value of RSUs granted during the quarter ended September 30, 2025 and 2024 were $1.85 and $2.50, respectively. The total grant-date fair value of restricted stock granted during the three months ended September 30, 2025 was $0.9 million. The total fair value of awards vested during the three months ended September 30, 2025 and 2024 were $0.1 million and $0.1 million, respectively.

At September 30, 2025 and June 30, 2025, there was $1.8 million and $1.3 million, respectively, of unrecognized compensation cost related to restricted stock. The unrecognized compensation cost related to restricted stock at September 30, 2025 is expected to be recognized over the weighted average period of 1.3 years. Total compensation expense for restricted stock was $0.3 million and $0.3 million, respectively, in the three months ended September 30, 2025 and 2024.

------

**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

***Performance-Based Restricted Stock Units ("PBRSUs")***

The following table summarizes PBRSU activity for the three months ended September 30, 2025:

---

| | | |
|:---|:---|:---|
| **<u>Outstanding and Nonvested PBRSUs:</u>** | **PBRSUs<br>Awarded** | **Weighted Average<br>Grant Date Fair Value ($)** |
| Outstanding and nonvested at June 30, 2025 | 834317 | 2.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Granted |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vested/Released |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cancelled/Forfeited |  |  |
| Outstanding and nonvested at September 30, 2025 | 834317 | 2.53 |

---

The weighted average grant date fair value of PBRSUs granted during the quarter ended September 30 2024 was $2.50. There were no PBRSU's granted or vested during the three months ended September 30, 2025. There were no PBRSU's vested during the three months ended September 30, 2024.

At September 30, 2025 and June 30, 2025, there was $1.1 million and $1.3 million, respectively, of unrecognized PBRSU compensation cost. The unrecognized PBRSU compensation cost at September 30, 2025 is expected to be recognized over the weighted average period of 1.8 years. Total compensation expense for PBRSUs was $0.2 million and $0.2 million, respectively, for the three months ended September 30, 2025 and 2024.

***Cash-Settled Restricted Stock Units ("CSRSUs")***

CSRSUs vest in equal installments over a three-year period from the grant date, and are cash-settled upon vesting based on the closing share price of Common Stock on the vesting date.

The CSRSUs are accounted for as liability awards, and compensation expense is measured at fair value on the date of grant and recognized on a straight-line basis over the vesting period net of forfeitures. Compensation expense is remeasured at each reporting date with a cumulative adjustment to compensation cost during the period based on changes in the closing share price of Common Stock.

The following table summarizes CSRSU activity for the three months ended September 30, 2025:

---

| | | |
|:---|:---|:---|
| **<u>Outstanding and Nonvested CSRSUs:</u>** | **CSRSUs<br>Awarded** | **Weighted Average<br>Grant Date Fair Value ($)** |
| Outstanding and nonvested at June 30, 2025 | 781263 | 2.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Granted | 725000 | 1.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vested/Released |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cancelled/Forfeited |  |  |
| Outstanding and nonvested at September 30, 2025 | 1506263 | 2.12 |

---

The weighted average grant date fair value of CSRSUs granted during the quarter ended September 30, 2025 was $1.85. The total grant-date fair value of CSRSUs granted during the three months ended September 30, 2025 was $1.3 million. The total fair value of awards vested was $0.2 million during the three months ended September 30, 2024.

At September 30, 2025 and June 30, 2025, there was $2.0 million and $0.8 million, respectively, of unrecognized compensation cost related to CSRSUs. The unrecognized compensation cost related to CSRSUs at September 30, 2025 is expected to be recognized over the weighted average period of 1.6 years. Total compensation expense for CSRSUs was $0.2 million and $0.2 million, respectively for the three months ended September 30, 2025 and 2024.

**Note 12. Other Current Liabilities**

Other current liabilities consist of the following:

---

| | | |
|:---|:---|:---|
| **<u>(In thousands)</u>** | **September 30, 2025** | **June 30, 2025** |
| Accrued workers' compensation liabilities | $765 | $696 |
| Finance lease liabilities | 48 | 96 |
| Other (1) | 3272 | 3101 |
| &nbsp;&nbsp;&nbsp;Other current liabilities | $4085 | $3893 |

---

_________

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes accrued property taxes, sales and use taxes and insurance liabilities.

------

**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

**Note 13. Other Long-Term Liabilities**

Other long-term liabilities include the following:

---

| | | |
|:---|:---|:---|
| **<u>(In thousands)</u>** | **September 30, 2025** | **June 30, 2025** |
| Deferred compensation (1) | 245 | 221 |
| &nbsp;&nbsp;&nbsp;Other long-term liabilities | $245 | $221 |

---

___________

&nbsp;&nbsp;&nbsp;&nbsp;(1) Includes cash-settled restricted stock units liabilities.

**Note 14. Income Taxes** 

The income tax expense and the related effective tax rates are as follows (in thousands, except effective tax rate):

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** |
| Income tax expense | $0 | $133 |
| Effective tax rate | 0.0% | (2.7)% |

---

The Company's interim tax provision is determined using an estimated annual effective tax rate and adjusted for discrete taxable events that may occur during the quarter. The Company recognizes the effects of tax legislation in the period in which the law is enacted. Deferred tax assets and liabilities are remeasured using enacted tax rates expected to apply to taxable income in the years the Company estimates the related temporary differences to reverse. The Company evaluates its deferred tax assets quarterly to determine if a valuation allowance is required. In making such assessment, significant weight is given to evidence that can be objectively verified, such as recent operating results, and less consideration is given to less objective indicators such as future income projections.

Tax expense in the three months ended September 30, 2025 was $0 thousand compared to $133 thousand in the three months ended September 30, 2024, which primarily relates to state income tax in prior year period.

On July 4, 2025 the One Big Beautiful Bill Act (the "Act") was signed into law. The Act did not have a material impact to our operating results for the quarter ended September 30, 2025.

The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by U.S. federal, state and local tax authorities. With limited exceptions, as of September 30, 2025, the Company is no longer subject to income tax audits by taxing authorities for any years prior to June 30, 2021. Although the outcome of tax audits is always uncertain, the Company does not believe the outcome of any future audit will have a material adverse effect on the Company's consolidated financial statements.

**Note 15. Net Loss Per Common Share** 

Basic net loss per common share is calculated by dividing net loss attributable to the Company by the weighted average number of common shares outstanding during the periods presented. Diluted net loss per common share is calculated by dividing diluted net loss attributable to the Company by the weighted average number of common shares outstanding adjusted to include the effect, if dilutive, of the exercise of in-the-money stock options, unvested performance-based restricted stock units, and RSUs, during the periods presented. The calculation of dilutive shares outstanding excludes out-of-the-money stock options (i.e., such option's exercise prices were greater than the average market price of our common shares for the period). Potentially dilutive securities include unvested RSUs and performance-based restricted stock units. For the three months ended September 30, 2025, shares of the Company's outstanding stock options were not included in the computation of diluted loss per common share as their effects were anti-dilutive.

The following table presents the computation of basic and diluted net earnings loss per common share:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **<u>(In thousands, except share and per share amounts)</u>** | **2025** | **2024** |
| Net loss from operations available to common stockholders | $(4025) | $(5002) |
| Weighted average common shares outstanding - basic and diluted | 21593843 | 21263245 |
| Net loss per common share available to stockholders—basic and diluted | $(0.19) | $(0.24) |

---

**Note 16. Revenue Recognition**

The Company's primary sources of revenue are sales of coffee, tea and culinary products. The Company recognizes revenue when control of the promised good or service is transferred to the customer and in amounts that the Company expects to collect. The timing of revenue recognition takes into consideration the various shipping terms applicable to the Company's sales.

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**Farmer Bros. Co.**

**Notes to Unaudited Consolidated Financial Statements (continued)**

The Company delivers products to customers through Direct-store-delivery ("DSD") to the Company's customers at their place of business and directly from the Company's warehouse to the customer's warehouse, facility or address. Each delivery or shipment made to a third party customer is to satisfy a performance obligation. Performance obligations generally occur at a point in time and are satisfied when control of the goods passes to the customer. The Company is entitled to collection of the sales price under normal credit terms in the regions in which it operates.

The Company disaggregates net sales from contracts with customers based on the characteristics of the products sold:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** |
| **<u>(In thousands)</u>** | $**% of total** | $**% of total** |
| **<u>Net Sales by Product Category:</u>** |  |  |
| Coffee (Roasted) | 51.1% | 46.1% |
| Tea & Other Beverages (1) | 24.5% | 27.9% |
| Culinary | 16.9% | 18.3% |
| Spices | 6.1% | 6.2% |
| Delivery Surcharge | 1.4% | 1.5% |
| **Net sales** | 100.0% | 100.0% |

---

____________

(1)Includes all beverages other than roasted coffee, including frozen liquid coffee, and iced and hot tea, including cappuccino, cocoa, granitas, and concentrated and ready-to drink cold brew and iced coffee.

The Company does not have any material contract assets and liabilities as of September 30, 2025. Receivables from contracts with customers are included in "Accounts receivable, net" on the Company's consolidated balance sheets.

**Note 17. Commitments and Contingencies**

For a detailed discussion about the Company's commitments and contingencies, see Note 18, "Commitments and Contingencies" in the Notes to Consolidated Financial Statements in the 2025 Form 10-K. During the three months ended September 30, 2025, other than the following, or as otherwise disclosed herein, there were no material changes in the Company's commitments and contingencies.

***Purchase Commitments***

As of September 30, 2025, the Company had committed to purchase green coffee inventory totaling $31.6 million under fixed-price contracts, and $12.2 million in inventory and other purchases under non-cancelable purchase orders.

***Legal Proceedings***

The Company is a party to various pending legal and administrative proceedings. It is management's opinion that the outcome of such proceedings will not have a material impact on the Company's financial position, results of operations, or cash flows.

**Note 18. Business Information**

The Company operates as one operating segment. The Company is a leading coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and other allied products manufactured under our owned brands, as well as under private labels on behalf of certain customers. The Company uses a centralized management structure, and its strategies and initiatives are implemented and executed consistently across the organization. The Company uses shared resources for sales, procurement, and general and administrative activities across its distribution facility, branch warehouses and operations. The Company's branch warehouses form a single network to reach its customers; it is common for a single customer to make purchases from several different facilities. Capital projects, whether for cost savings or generating incremental revenue, are evaluated based on estimated economic returns to the organization as a whole.

The Company's consolidated results represent the results of its one operating segment based on how the Company's chief operating decision maker (the "CODM"), the Chief Executive Officer (the "CEO"), views the business for purposes of evaluating performance and making operating decisions.

The CODM utilizes the U.S. GAAP measurement of consolidated net income to assess financial performance and allocate resources. This financial metric is used by the CODM to make key operating decisions, such as allocation of budget between net sales, cost of goods sold, distribution costs and selling and administrative costs. The measure of segment assets is reported on the Company's Consolidated Balance Sheets as total consolidated assets. In addition, the measure of capital expenditures, depreciation and amortization is reported on the Company's Consolidated Statements of Cash Flows.

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---

| | |
|:---|:---|
| **Item 2.** | **Management's Discussion and Analysis of Financial Condition and Results of Operations** |

---

**Forward-Looking Statements**

This Quarterly Report on Form 10-Q and other documents we file with the SEC contain "forward-looking statements" withing the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act, that are based on current expectations, estimates, forecasts and projections about us, our future performance, our financial condition, our products, our business strategy, our beliefs and our management's assumptions. In addition, we, or others on our behalf, may make forward-looking statements in press releases or written statements, or in our communications and discussions with investors and analysts in the normal course of business through meetings, webcasts, phone calls and conference calls. These forward-looking statements can be identified by the use of words like "anticipates," "estimates," "projects," "expects," "plans," "believes," "intends," "will," "could," "may," "assumes" and other words of similar meaning. These statements are based on management's beliefs, assumptions, estimates and observations of future events based on information available to our management at the time the statements are made and include any statements that do not relate to any historical or current fact. These statements are not guarantees of future performance and they involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from what is expressed, implied or forecast by our forward-looking statements due in part to the risks, uncertainties and assumptions set forth in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended June 30, 2025 filed with the SEC on September 11, 2025, as amended by the Form 10-K/A filed on October 24, 2025 (as amended, the "2025 Form 10-K"), as well as those discussed elsewhere in this Quarterly Report on Form 10-Q and other factors described from time to time in our filings with the SEC.

Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, severe weather; levels of consumer confidence in national and local economic business conditions; developments related to pricing cycles and volumes; the impact of labor market conditions; the increase of costs due to inflation; changes in taxes, tariffs, duties governmental laws and regulations; an economic downturn caused by any pandemic, epidemic or other disease outbreak; the success of our turnaround strategy; the impact of capital improvement projects; the adequacy and availability of capital resources to fund our existing and planned business operations and our capital expenditure requirements; our ability to meet financial covenant requirements in our Credit Facility, which could impact, among other things, our liquidity; the relative effectiveness of compensation-based employee incentives in causing improvements in our performance; the capacity to meet the demands of our large national account customers; the extent of execution of plans for the growth of our business and achievement of financial metrics related to those plans, our success in retaining and/or attracting qualified employees; our success in adapting to technology and new commerce channels; the effect of the capital markets as well as other external factors on stockholder value; fluctuations in availability and cost of green coffee; competition; organizational changes; the effectiveness of our hedging strategies in reducing price; changes in consumer preferences; our ability to provide sustainability in ways that do not materially impair profitability; changes in the strength of the economy, including any effects from inflation; business conditions in the coffee industry and food industry in general; our continued success in attracting new customers; variances from budgeted sales mix and growth rates; weather and special or unusual events, as well as other risks described in this Quarterly Report on Form 10-Q and other factors described from time to time in our filings with the SEC.

Given these risks and uncertainties, you should not rely on forward-looking statements as a prediction of actual results. Any or all of the forward-looking statements contained in this Quarterly Report on Form 10-Q and any other public statement made by us, including by our management, may turn out to be incorrect. We are including this cautionary note to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We expressly disclaim any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise, except as required under federal securities laws and the rules and regulations of the SEC.

------

***Financial Data Highlights (in thousands, except per share data and percentages)***

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Favorable (Unfavorable)** | **Favorable (Unfavorable)** |
| | **2025** | **2024** | **Change** | **% Change** |
| **<u>Income Statement Data:</u>** |  |  |  |  |
| Net sales | $81601 | $85066 | $(3465) | (4.1)% |
| Gross margin | 39.7% | 43.9% | (4.2)% | NM |
| Operating expenses as a % of sales | 43.6% | 47.2% | 3.6% | NM |
| Loss from operations | $(3181) | $(2828) | $(353) | (12.5)% |
| Net loss | $(4025) | $(5002) | $977 | 19.5% |
| **<u>Operating Data:</u>** |  |  |  |  |
| Coffee pounds | 4695 | 4863 | (168) | (3.5)% |
| EBITDA (1) | $(751) | $(1408) | $657 | 46.7% |
| EBITDA Margin (1) | (0.9)% | (1.7)% | 0.8% | NM |
| Adjusted EBITDA (1) | $1364 | $1417 | $(53) | (3.7)% |
| Adjusted EBITDA Margin (1) | 1.7% | 1.7% | —% | NM |
| **<u>Percentage of Total Net Sales By Product Category</u>** |  |  |  |  |
| Coffee (Roasted) | 51.1% | 46.1% | 5.0% | 10.8% |
| Tea & Other Beverages (2) | 24.5% | 27.9% | (3.4)% | (12.2)% |
| Culinary | 16.9% | 18.3% | (1.4)% | (7.7)% |
| Spices | 6.1% | 6.2% | (0.1)% | (1.6)% |
| Delivery Surcharge | 1.4% | 1.5% | (0.1)% | (6.7)% |
| Net sales | 100.0% | 100.0% | —% | NM |
| Other data: |  |  |  |  |
| Total capital expenditures | $1932 | $3330 | $1398 | 42.0% |
| Depreciation and amortization expense | 2614 | 2897 | 283 | 9.8% |

---

________________

NM - Not Meaningful

(1) EBITDA, EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. See "[Non-GAAP Financial Measures](#i6a7df333137e41f98b9c3c0f37bf27d3_94)" below for a reconciliation of these non-GAAP measures to their corresponding GAAP measures.

(2) Includes all beverages other than roasted coffee, frozen liquid coffee, and iced and hot tea, including cappuccino, cocoa, granitas, and concentrated and ready-to-drink cold brew and iced coffee.

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Results of Operations**

The following table sets forth information regarding our consolidated results of operations for the three months ended September 30, 2025 and 2024 (in thousands, except percentages):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** | **Favorable (Unfavorable)** | **Favorable (Unfavorable)** |
| | **2025** | **2024** | **Change** | **% Change** |
| Net sales | $81601 | $85066 | $(3465) | (4.1)% |
| Cost of goods sold | 49165 | 47748 | (1417) | (3.0)% |
| Gross profit | 32436 | 37318 | (4882) | (13.1)% |
| Selling expenses | 25803 | 27228 | 1425 | 5.2% |
| General and administrative expenses | 8797 | 11252 | 2455 | 21.8% |
| Net losses on disposal of assets | 1017 | 1666 | 649 | 39.0% |
| Operating expenses | 35617 | 40146 | 4529 | 11.3% |
| Loss from operations | (3181) | (2828) | (353) | (12.5)% |
| Other (expense) income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | (1324) | (1791) | 467 | 26.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other, net | 480 | (250) | 730 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other expense | (844) | (2041) | 1197 | NM |
| Loss before taxes | (4025) | (4869) | 844 | 17.3% |
| Income tax expense |  | 133 | 133 | NM |
| Net loss | $(4025) | $(5002) | $977 | 19.5% |

---

___________

NM - Not Meaningful

**Three Months Ended September 30, 2025 Compared to Three Months Ended September 30, 2024** 

***Net Sales***

Net sales in the three months ended September 30, 2025 decreased $3.5 million, or 4.1%, to $81.6 million from $85.1 million in the three months ended September 30, 2024. The decrease in net sales for the three months ended September 30, 2025 was primarily due to declining volumes compared to the prior period.

The following table presents the effect of changes in unit sales, and unit pricing and product mix in the three months ended September 30, 2025 compared to the same period in the prior fiscal year (in millions):

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| | |
|:---|:---|
| | **Three Months Ended September 30, 2025 vs. 2024** |
| Effect of change in unit sales | $(9.8) |
| Effect of pricing and product mix changes | 6.3 |
| &nbsp;&nbsp;&nbsp;Total (decrease) increase in net sales | $(3.5) |

---

Unit sales decreased 10.9%, and average unit price increased by 7.7% in the three months ended September 30, 2025 as compared to the same period in the prior fiscal year, resulting in a decrease in our net sales of 4.1%. Average unit price increased during the three months ended September 30, 2025 primarily due to price increases to customers. There were no new product category introductions which had a material impact on our net sales in the three months ended September 30, 2025 or 2024.

***Gross Profit***

Gross profit decreased to $32.4 million for the three months ended September 30, 2025, compared to $37.3 million for the three months ended September 30, 2024. Gross margin decreased to 39.7% for the three months ended September 30, 2025 from 43.9% for the three months ended September 30, 2024. The decrease in gross profit was primarily due to increased costs of goods sold related to the rise in green coffee commodity costs compared to the same period in the prior fiscal year.

***Operating Expenses***

In the three months ended September 30, 2025, operating expenses decreased $4.5 million to $35.6 million, or 43.6% of net sales, from $40.1 million, or 47.2% of net sales in the prior year period. There was a $1.4 million decrease in selling expenses and a $2.5 million decrease in general and administrative expenses. The decrease in selling expenses during the three months ended September 30, 2025 was primarily due to compensation related cost. The decrease in general and

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administrative expenses during the three months ended September 30, 2025 was primarily due to a decrease in compensation and benefits related costs. There was a $1.0 million loss on disposal of assets during the three months ended September 30, 2025 compared to a $1.7 million loss for three months ended September 30, 2024.

***Total Other Expense***

Interest expense in the three months ended September 30, 2025 decreased $0.5 million to $1.3 million from $1.8 million in the prior year period. The decrease is primarily related to a decrease in pension related interest costs.

Other, net was a gain of $0.5 million in the three months ended September 30, 2025 compared to $0.3 million loss in the prior year period. The $0.7 million change was primarily related to net losses on coffee-related derivative instruments not designated as accounting hedges in the prior year period.

***Income Taxes***

In the three months ended September 30, 2025 and September 30, 2024, we recorded income tax expense of $0 thousand and $133 thousand, respectively. See <u>[Note 14](#i6a7df333137e41f98b9c3c0f37bf27d3_76)</u>, *Income Taxes*, of the Notes to Unaudited Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q.

**Non-GAAP Financial Measures**

In addition to net (loss) income determined in accordance with U.S. generally accepted accounting principles ("GAAP"), we use the following non-GAAP financial measures in assessing our operating performance:

*"EBITDA"* is defined as net loss excluding the impact of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• income tax expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• interest expense; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• depreciation and amortization expense.

 *"EBITDA Margin"* is defined as EBITDA expressed as a percentage of net sales.

*"Adjusted EBITDA"* is defined as net loss excluding the impact of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• income tax expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• interest expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• depreciation and amortization expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 401(k) and share-based compensation expense;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• net losses on disposal of assets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• strategic initiative costs; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• severance costs.

*"Adjusted EBITDA Margin"* is defined as Adjusted EBITDA expressed as a percentage of net sales.

For purposes of calculating EBITDA and EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin, we have excluded the impact of interest expense resulting from non-cash pretax pension and postretirement benefits. For purposes of calculating Adjusted EBITDA and Adjusted EBITDA Margin, we are also excluding the impact severance and strategic initiative costs, as these items is not reflective of our ongoing operating results.

We believe these non-GAAP financial measures provide a useful measure of the Company's operating results, a meaningful comparison with historical results and with the results of other companies, and insight into the Company's ongoing operating performance. Further, management utilizes these measures, in addition to GAAP measures, when evaluating and comparing the Company's operating performance against internal financial forecasts and budgets.

We believe that EBITDA facilitates operating performance comparisons from period to period by isolating the effects of certain items that vary from period to period without any correlation to core operating performance or that vary widely among similar companies. These potential differences may be caused by variations in capital structures (affecting interest expense), tax positions (such as the impact on periods or companies of changes in effective tax rates or net operating losses) and the age and book depreciation of facilities and equipment (affecting relative depreciation expense). We also present EBITDA and EBITDA Margin because (i) we believe that these measures are frequently used by securities analysts, investors and other interested parties to evaluate companies in our industry, (ii) we believe that investors will find these measures useful in assessing our ability to service or incur indebtedness, and (iii) we use these measures internally as benchmarks to compare our performance to that of our competitors.

EBITDA, EBITDA Margin, Adjusted EBITDA and Adjusted EBITDA Margin, as defined by us, may not be comparable to similarly titled measures reported by other companies. We do not intend for non-GAAP financial measures to

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be considered in isolation or as a substitute for other measures prepared in accordance with GAAP.

Set forth below is a reconciliation of reported net loss to EBITDA (unaudited):

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| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **<u>(In thousands)</u>** | **2025** | **2024** |
| Net loss | $(4025) | $(5002) |
| Income tax expense |  | 133 |
| Interest expense (1) | 660 | 564 |
| Depreciation and amortization expense | 2614 | 2897 |
| EBITDA | $(751) | $(1408) |
| EBITDA Margin | (0.9)% | (1.7)% |

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____________

(1) Excludes interest expense related to pension plans and postretirement benefit plans.

Set forth below is a reconciliation of reported net loss to Adjusted EBITDA (unaudited):

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| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| **<u>(In thousands)</u>** | **2025** | **2024** |
| Net loss | $(4025) | $(5002) |
| Income tax expense |  | 133 |
| Interest expense (1) | 660 | 564 |
| Depreciation and amortization expense | 2614 | 2897 |
| 401(k) and share-based compensation expense | 482 | 495 |
| Net losses on disposal of assets | 1017 | 1666 |
| Strategic initiative costs (2) | 587 |  |
| Severance costs | 29 | 664 |
| Adjusted EBITDA | $1364 | $1417 |
| Adjusted EBITDA Margin | 1.7% | 1.7% |

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__________

(1) Excludes interest expense related to pension plans and postretirement benefit plans.

(2) Cost related to evaluation of strategic alternatives.

**Our Business**

We are a leading coffee roaster, wholesaler, equipment servicer and distributor of coffee, tea and other allied products manufactured under our owned brands, as well as under private labels on behalf of certain customers. We were founded in 1912, incorporated in California in 1923, and reincorporated in Delaware in 2004. We operate in one business segment.

We serve a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers like restaurants, department and convenience store retailers, hotels, casinos, healthcare facilities, and gourmet coffee houses, as well as grocery chains with private brand and consumer-branded coffee and tea products, and foodservice distributors. Through our sustainability, stewardship, environmental efforts, and leadership we are not only committed to serving the finest products available, considering the cost needs of the customer, but also focus on their sustainable cultivation, manufacture and distribution whenever possible.

Our product categories consist of a robust line of roast and ground coffee, including organic, Direct Trade, Project D.I.R.E.C.T.®, Fair Trade Certified™® and other sustainably-produced offerings; frozen liquid coffee; flavored and unflavored iced and hot teas; including organic and Rainforest Alliance Certified™; culinary products including premium spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, syrups and sauces, and coffee-related products such as coffee filters, cups, sugar and creamers; and other beverages including cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee. We offer a comprehensive approach to our customers by providing not only a breadth of high-quality products, but also value added services such as market insight, beverage planning, and equipment placement and service.

We operate a production and distribution facility in Portland, Oregon. We distribute our products from our Portland, Oregon production facility, as well as separate distribution centers in Northlake, Illinois; Moonachie, New Jersey; and Rialto, California. Our products reach our customers primarily through our nationwide DSD network of over 200 delivery routes and over 90 storage locations as of September 30, 2025. DSD sales are primarily made "off-truck" to our customers at their places of business. We operate a large fleet of trucks and other vehicles to distribute and deliver our products through our DSD network, and we rely on 3PL service providers for our long-haul distribution.

We continue to monitor macroeconomic trends and uncertainties such as product cost inflation, the effects of recently implemented tariffs, and the potential impact of modified or additional tariffs, which may have adverse effects on net sales

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and profitability. As a result of the tariffs announced by the U.S. and potential tariff modifications or the imposition of tariffs or export controls by other countries, we anticipate increased commodity cost volatility, and consumer and economic uncertainty due to rapid changes in global trade policies. Economic pressures on customers and suppliers, including the challenges of high inflation and the effects of increased tariffs, may negatively affect our net sales and profitability in the future.

**Liquidity, Capital Resources and Financial Condition**

The following table summarizes our debt obligations:

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **September 30, 2025** | **September 30, 2025** | **June 30, 2025** | **June 30, 2025** |
|<br>**(In thousands)** |<br>**Debt Origination Date** |<br>**Maturity** |<br>**Principal Borrowing Amount** | **Carrying Value** | **Weighted Average Interest Rate (1)** | **Carrying Value** | **Weighted Average Interest Rate (1)** |
| Revolver | Various | 4/26/2027 | N/A | $18300 | 6.15% | $14300 | 6.48% |

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The revolver under the Credit Facility has a commitment of up to $75.0 million and a maturity date of April 26, 2027. Availability under the revolver is calculated as the lesser of (a) $75.0 million or (b) the amount equal to the sum of (i) 85% of eligible accounts receivable (less a dilution reserve), plus (ii) the lesser of: (a) 80% of eligible raw material inventory, eligible in-transit inventory and eligible finished goods inventory (collectively, "Eligible Inventory"), and (b) 85% of the net orderly liquidation value of Eligible Inventory, minus (c) applicable reserve. The Term Loan under the Term Credit Facility was fully paid down on June 30, 2023.

The Credit Facility contains customary affirmative and negative covenants and restrictions typical for a financing of this type. Non-compliance with one or more of the covenants and restrictions could result in the full or partial principal balance of the Credit Facility becoming immediately due and payable and termination of the commitments. As of and through September 30, 2025, we were in compliance with all of the covenants under the Credit Facility.

The Credit Facility provides us with increased flexibility to proactively manage our liquidity and working capital, while maintaining compliance with our debt financial covenants, and preserving financial liquidity to mitigate the impact of the uncertain business environment and continue to execute on key strategic initiatives.

At September 30, 2025, the Company had outstanding borrowings on the Revolver Credit Facility of $18.3 million and had utilized $4.7 million of the letters of credit sublimit.

***Liquidity***

We generally finance our operations through cash flows from operations and borrowings under our Credit Facility described above. In light of our financial position, operating performance and current economic conditions, including the state of the global capital markets, there can be no assurance as to whether or when we will be able to raise capital by issuing securities. We believe that the Credit Facility, to the extent available, in addition to our cash flows from operations, collectively, will be sufficient to fund our working capital and capital expenditure requirements for the next 12 months and beyond.

At September 30, 2025, we had $3.8 million of unrestricted cash and cash equivalents and $0.2 million in restricted cash. At September 30, 2025, we had $31.2 million available on our Revolver Credit Facility.

***Cash Flows***

The significant captions and amounts from our consolidated statements of cash flows are summarized below:

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| | | |
|:---|:---|:---|
| | **Three Months Ended September 30,** | **Three Months Ended September 30,** |
| | **2025** | **2024** |
| **Consolidated Statements of cash flows data (in thousands)** |  |  |
| Net cash (used in) provided by operating activities | $(5007) | $2493 |
| Net cash used in investing activities | (1919) | (3304) |
| Net cash provided by (used in) financing activities | 3951 | (56) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net (decrease) in cash and cash equivalents and restricted cash** | $(2975) | $(867) |

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*Operating Activities*

Net cash used in operating activities during the three months ended September 30, 2025 was $5.0 million as compared to net provided by operating activities of $2.5 million in the three months ended September 30, 2024, a decrease in cash used in operations of $7.5 million. The change was driven primarily from an increase in inventories and a decrease in accrued expenses partially offset by an increase in accounts payable.

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 *Investing Activities*

Net cash used in investing activities during the three months ended September 30, 2025 was $1.9 million as compared to $3.3 million in the three months ended September 30, 2024. The net change in investing activities was primarily due to a decrease in capital expenditures of $1.4 million in the current period compared to the prior year period.

*Financing Activities*

Net cash provided by financing activities during the three months ended September 30, 2025 was $4.0 million as compared to net cash used in financing activities of $0.1 million in the three months ended September 30, 2024. The increase was primarily due to net borrowing proceeds of $4.0 million under the Credit Facility in the current year period.

*Capital Expenditures* 

For the three months ended September 30, 2025 and 2024, our capital expenditures paid were $1.9 million and $3.3 million, respectively. In fiscal 2026, we anticipate paying between $9.0 million to $11.0 million in capital expenditures. We expect to finance these expenditures through cash flows from operations and borrowings under our Credit Facility.

Depreciation and amortization expenses were $2.6 million and $2.9 million in the three months ended September 30, 2025 and 2024, respectively.

*Purchase Commitments*

As of September 30, 2025, the Company had committed to purchase green coffee inventory totaling $31.6 million under fixed-price contracts, and $12.2 million in inventory and other purchases under non-cancelable purchase orders.

*Contractual Obligations*

As of September 30, 2025, the Company had operating and finance lease payment commitments totaling $36.6 million.

*Critical Accounting Policies and Estimates*

We prepare our consolidated financial statements in accordance with GAAP. In applying many of these accounting principles, we need to make assumptions, estimates or judgments that affect the reported amounts of assets, liabilities, revenues and expenses in our consolidated financial statements. We base our estimates and judgments on historical experience and other assumptions that we believe are reasonable under the circumstances. These assumptions, estimates or judgments, however, are both subjective and subject to change, and actual results may differ from our assumptions and estimates. If actual amounts are ultimately different from our estimates, the revisions are included in our results of operations for the period in which the actual amounts become known. For a summary of our significant accounting policies, see *Note 2, Summary of Significant Accounting Policies,* of the Notes to Consolidated Financial Statements included in Part I, Item 1 of our 2025 Form 10-K. For a summary of our critical accounting estimates, please see "Management's Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Estimates" in our 2025 Form 10-K.

*Recent Accounting Pronouncements*

See Note 2, *Summary of Significant Accounting Policies*, of the Notes to Consolidated Financial Statements included in Part I, Item 1 of our 2025 Form 10-K.

*Off-Balance Sheet Arrangements*

As of September 30, 2025, the Company did not have any off-balance sheet arrangements.

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| | |
|:---|:---|
| **Item 3.** | **Quantitative and Qualitative Disclosures About Market Risk** |

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As a smaller reporting company, as defined in Rule 12b-2 of the Exchange Act, we are not required to provide the information called for by this Item.

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| | |
|:---|:---|
| **Item 4.** | **Controls and Procedures** |

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***Disclosure Controls and Procedures***

Disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are controls and other procedures that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of the SEC. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information we are required to disclose in the reports that we file or submit under the Exchange Act is accumulated and communicated to our

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management, including our principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosures.

Our management, with the participation of our Chief Executive Officer (principal executive officer) and Chief Financial Officer (principal financial officer), carried out an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) promulgated under the Exchange Act) of September 30, 2025. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective.

***Changes in Internal Control Over Financial Reporting***

Management has determined that there has been no change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) promulgated under the Exchange Act) during our fiscal quarter ended September 30, 2025 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**PART II - OTHER INFORMATION**

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| | |
|:---|:---|
| **Item 1.** | **Legal Proceedings** |

---

The information set forth in <u>[Note 17](#i6a7df333137e41f98b9c3c0f37bf27d3_85)</u>, *Commitments and Contingencies*, of the Notes to Unaudited Consolidated Financial Statements included in Part I, Item 1 of this Form 10-Q is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 1A.** | **Risk Factors** |

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For a discussion of our other potential risks and uncertainties, see the information under "Item 1A. Risk Factors" in our 2025 Form 10-K. During the three months ended September 30, 2025, there have been no material changes to the risk factors disclosed in our 2025 Form 10-K.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds**

None.

**Item 3. Defaults Upon Senior Securities**

None.

**Item 4. Mine Safety Disclosures**

Not applicable.

**Item 5. Other Information**

During the fiscal quarter ended September 30, 2025, none of our directors or officers adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement," as those terms are defined in Item 408 of Regulation S-K.

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---

| | |
|:---|:---|
| **Item 6.** | **Exhibits** |

---

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | <u>[Second Amended and Restated Certificate of Incorporation of Farmer Bros. Co. (filed as Exhibit 3.1 to the Company's Current Report on Form 8-K filed with the SEC on January 12, 2023 and incorporated herein by reference).](https://www.sec.gov/Archives/edgar/data/34563/000114036123001474/brhc10046407_ex3-1.htm)</u> |
| 3.2 | <u>[Second Amended and Restated Bylaws of Farmer Bros. Co. (filed as Exhibit 3.1 to the Company's Current Report on Form 8-K filed with the SEC on February 10, 2025 and incorporated herein by reference).](https://www.sec.gov/Archives/edgar/data/34563/000110465925010937/tm255784d1_ex3-1.htm)</u> |
| 10.1 | <u>[Form of Farmer Bros. Co. Amended and Restated 2017 Long-Term Incentive Plan Restricted Stock Unit Award Agreement (filed as Exhibit 10.29 to the Company's Annual Report on Form 10-K filed with the SEC on September 12, 2023 and incorporated herein by reference).](https://www.sec.gov/Archives/edgar/data/34563/000003456323000067/ex1029-2017ltippbrsuawarda.htm)</u> |
| 10.2 | <u>[Form of Farmer Bros Co. Amended and Restated 2017 Long-Term Incentive Plan Restricted Stock Unit Award Agreement (Directors) (filed as Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2023, filed with the SEC on May 10, 2023 and incorporated herein by reference).](https://www.sec.gov/Archives/edgar/data/34563/000003456323000052/ex103-q3x2023.htm)</u> |
| 10.3\* | <u>[Second Amended and Restated Severance Agreement by and between the Company and John Moore (filed herewith).](ex103-secondamendedandrest.htm)</u> |
| 10.4\* | <u>[Second Amended and Restated Severance Agreement by and between the Company and Vance Fisher (filed herewith).](ex104-secondamendedandrest.htm)</u> |
| 10.5\* | <u>[Second Amended and Restated Severance Agreement by and between the Company and Jared Vitemb (filed herewith).](ex105-secondamendedandrest.htm)</u> |
| 10.6\* | <u>[Second Amended and Restated Severance Agreement by and between the Company and Brian Miller (filed herewith).](ex106-secondamendedandrest.htm)</u> |
| 10.7\* | <u>[Transaction Bonus Agreement by and between the Company and John Moore (filed herewith).](ex107-transactionbonusxmoo.htm)</u> |
| 10.8\* | <u>[Transaction Bonus Agreement by and between the Company and Vance Fisher (filed herewith).](ex108-transactionbonusxfis.htm)</u> |
| 10.9\* | <u>[Transaction Bonus Agreement by and between the Company and Jared Vitemb (filed herewith).](ex109-transactionbonusxvit.htm)</u> |
| 10.10 | <u>[Form of Indemnification Agreement for Directors and Officers of the Company, as adopted on December 8, 2017 (filed as Exhibit 10.32 to the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2022, filed with the SEC on September 2, 2022 and incorporated herein by reference).](https://www.sec.gov/Archives/edgar/data/34563/000003456322000067/farm-6302022xex1032.htm)</u> |
| 31.1\* | <u>[Principal Executive Officer Certification Pursuant to Securities Exchange Act Rules 13a-14 and 15d-14 as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](farm-ex311xq1x2026.htm)</u> |
| 31.2\* | <u>[Principal Financial Officer Certification Pursuant to Securities Exchange Act Rules 13a-14 and 15d-14 as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.](farm-ex312xq1x2026.htm)</u> |
| 32.1\*\* | <u>[Principal Executive Officer Certification Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](farm-ex321xq1x2026.htm)</u> |
| 32.2\*\* | <u>[Principal Financial Officer Certification Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.](farm-ex322xq1x2026.htm)</u> |
| 101.INS\* | Inline XBRL Instance Document |
| 101.SCH\* | Inline XBRL Taxonomy Extension Schema Document. |
| 101.CAL\* | Inline XBRL Taxonomy Extension Calculation Linkbase Document. |
| 101.DEF\* | Inline XBRL Taxonomy Extension Definition Linkbase Document. |
| 101.LAB\* | Inline XBRL Taxonomy Extension Label Linkbase Document. |
| 101.PRE\* | Inline XBRL Taxonomy Extension Presentation Linkbase Document. |
| 104 | The cover page from the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, formatted in Inline XBRL (included in Exhibit 101). |

---

________________

\* Filed herewith

\*\* Furnished, not filed, herewith

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

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| | |
|:---|:---|
| **FARMER BROS. CO.** | **FARMER BROS. CO.** |
| By: | /s/ John E Moore III |
|  | **John E Moore III<br>President and Chief Executive Officer<br>(principal executive officer)** |
|  | **November 6, 2025** |
| By: | /s/ Vance Ratliff Fisher |
|  | **Vance Ratliff Fisher<br>Chief Financial Officer<br>(principal financial officer)** |
|  | **November 6, 2025** |

---

## Exhibit 10.3

E**x** 10.3

**SECOND AMENDED AND RESTATED SEVERANCE AGREEMENT**

This **SECOND AMENDED AND RESTATED SEVERANCE AGREEMENT** (this "Agreement") is effective as of July 30, 2025 (the "Effective Date") and made by and between Farmer Bros. Co. (the "Company") and John E. Moore, III (the "Executive"). The Company and the Executive are referred to herein as the "Parties."

**WHEREAS**, the Parties entered into an Amended and Restated Severance Agreement, dated June 30, 2023, which this Agreement will replace and supersede in its entirety, effective as of the Effective Date;

**WHEREAS**, the Company considers it essential to the best interests of the Company's shareholders to attract top executives and to foster the continuous employment of key management personnel; and

**WHEREAS**, in order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's continued services to the Company, the Company and the Executive desire to enter into this Agreement.

**NOW**, **THEREFORE**, in consideration of the foregoing, the Parties hereby agree as follows:

1.<u>Term of Agreement</u>. This Agreement shall be effective as of the date hereof and shall continue in effect until the earlier of (i) the Executive's Separation from Service and the Company's satisfaction of all of its obligations under this Agreement, if any; or (ii) the execution of a written agreement between the Company and the Executive terminating this Agreement.

2.<u>Definitions</u>. As used in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)"Accrued Benefits" means the total of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)any portion of Executive's base salary earned through the date of the Executive's Separation from Service but not yet paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to the extent an Executive is terminated following the end of the Company's fiscal year, but prior to the payment of any bonus under the Company's short-term incentive plan (the short-term incentive plan shall be hereinafter referred to as the "STIP"), the STIP payment that would have been paid to Executive based on the Company's actual financial performance for that fiscal year, with no adjustment for individual performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)a payment for Executive's earned but unused vacation time in accordance with applicable Company policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)reimbursements for any and all amounts advanced in connection with Executive's employment for reasonable and necessary expenses incurred by Executive through such Separation from Service in accordance with the Company's policies and procedures on reimbursement of expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)"Annual Compensation" means:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)one year of base salary, at the highest base salary rate that the Executive was paid by the Company in the twelve (12) month period prior to the date of the Executive's Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)the amount the Executive would pay on an annual basis for COBRA continuation premiums (less required co-pay) if the Executive elected COBRA continuation coverage under the Company's group insurance plans for Executive and Executive's then-covered dependents, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)"Beneficial Ownership" or "Beneficially Owning" shall have the meanings ascribed to such terms in Rule 13d-3 of the General Rules and Regulations promulgated under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)"Board" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)"Cause" means (a) the willful and continued failure of Executive to perform Executive's material job duties with the Company Group (other than any such failure resulting from becoming Disabled), after a written demand for substantial performance is delivered to Executive by the Company which specifically identifies the manner in which the Company believes that Executive has not substantially performed Executive's duties and Executive has had an opportunity for thirty (30) days to cure such failure after receipt of such written demand; (b) engaging in an act (whether by act or omission) of willful misconduct, fraud, embezzlement, misappropriation or theft which results in damage to the Company Group; (c) conviction of Executive of, or Executive pleading guilty or nolo contendere to, a felony (other than a violation of a motor vehicle or moving violation law) or a misdemeanor if such misdemeanor (A) is reasonably expected to or actually causes material damage to the Company Group; or (B) involves the commission of a criminal act against the Company Group; or (d) the breach by Executive of any material provision of, or inaccuracy in any material respect of any representation made by Executive in, the Company's policies or any agreement to which the Executive is party with the Company or its affiliates, that is not cured within 30 days of written notice from the Company setting forth with reasonable particularity such breach or inaccuracy, provided that, if such breach or inaccuracy is not capable of being cured within 30 days after receipt of such notice, Executive shall not be entitled to such cure period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)"Change in Control" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)An acquisition by any Person (as such term is defined in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a "group" as defined in Section 13(d) thereof) of Beneficial Ownership of the Shares then outstanding (the "Company Shares Outstanding") or the voting securities of the Company then outstanding entitled to vote generally in the election of directors (the "Company Voting Securities Outstanding"), if such acquisition of Beneficial Ownership results in the Person Beneficially Owning fifty percent (50%) or more of the Company Shares Outstanding or fifty percent (50%) or more of the combined voting power of the Company Voting Securities Outstanding; excluding, however, any such acquisition by a trustee or other fiduciary holding such Shares under one or more employee benefit plans maintained by the Company or any of its subsidiaries; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The approval of the stockholders of the Company of a reorganization, merger, consolidation, complete liquidation, or dissolution of the Company, the sale or disposition of all or substantially all of the assets of the Company or any similar corporate transaction (in each case referred to in this Section 2(vi)(b) as a "Corporate Transaction"), other than a Corporate Transaction that would result in the outstanding common stock of the Company immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or affiliate thereof) at least fifty

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percent (50%) of the outstanding common stock of the Company or such surviving entity or parent or affiliate thereof immediately after such Corporate Transaction; provided, however, if the consummation of such Corporate Transaction is subject, at the time of such approval by stockholders, to the consent of any government or governmental agency, the Change in Control shall not occur until the obtaining of such consent (either explicitly or implicitly); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)A change in the composition of the Board such that the individuals who, as of the Effective Date, constitute the Board (such Board shall be hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 2(vi)(c) that any individual who becomes a member of the Board subsequent to the Effective Date whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act, including any successor to such Rule), or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board, shall not be so considered as a member of the Incumbent Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)"Change in Control Period" means the period beginning on the effective date of a Change in Control and ending on the first anniversary of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)"COBRA" means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)"Code" means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)"Company Group" means the Company and its subsidiaries collectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)"Disabled" has the meaning set forth under applicable state or federal law, and no reasonable accommodation can be provided without undue hardship to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)"Exchange Act" means the Securities Exchange Act of 1934, as amended, or any successor act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)"Good Reason" means, without the Executive's consent: (a) a material reduction in Executive's base salary, other than pursuant to a reduction effective outside of the Change in Control Period and applicable to all executives or employees of the Company generally; (b) a move of Executive's primary place of work more than fifty (50) miles from its current location; or (c) a material diminution in Executive's normal duties and responsibilities, including, but not limited to, the assignment without Executive's consent of any diminished duties and responsibilities which are inconsistent with Executive's positions, duties and responsibilities with the Company Group on the date of this Agreement, or a materially adverse change in Executive's reporting responsibilities or titles as in effect on the date of this Agreement, or any removal of Executive from or any failure to re-elect Executive to any of such positions, except in connection with the termination of the Executive's employment for Cause or upon death, the Executive becoming Disabled, voluntary resignation or other termination of employment by the Executive without Good Reason; provided that, in each case, Executive must provide at least thirty (30) days' prior written notice of termination for Good Reason within 30 days after the occurrence of the event that Executive claims constitutes Good Reason, and the Company shall have the opportunity to cure such circumstances within thirty (30) days of receipt of such notice. For the avoidance of doubt, Good Reason shall not exist hereunder unless and until the 30-day cure period following receipt by the Company of Executive's written notice expires and the Company

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shall not have cured such circumstances, and in such case Executive's employment shall terminate for Good Reason on the day following expiration of such 30-day notice period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)"Qualifying Termination" means a Separation from Service on account of a termination of employment by the Company without Cause or the Executive's resignation for Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)"Separation from Service" or "Separates from Service" or similar terms means a termination of employment with the Company Group that the Company determines is a "separation from service" in accordance with Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)"Shares" means shares of the common stock of the Company, par value $1.00 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii)"Specified Employee" means a "specified employee" within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time in accordance therewith, or if none, the default methodology set forth therein.

3.<u>Compensation Upon a Termination by the Company Without Cause or by the Executive for Good Reason</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)<u>Outside the Change in Control Period</u>. Subject to Section 3(iii) herein, upon a Qualifying Termination that occurs outside of the Change in Control Period, the Executive will be entitled to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Accrued Benefits, which shall be paid in a lump sum payment on the first regular pay date following the Separation from Service, except for any portion of Accrued Benefits attributable to any earned STIP payment, which shall be paid on the date the STIP payment would have been made to the Executive but for the Separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)an amount equal to the Executive's Annual Compensation, which subject to Section 20(ii) below, shall be paid in regular bi-weekly installments on the Company's regular pay dates, commencing on the first regular pay date following the Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)an amount equal to the STIP payment Executive would have otherwise been entitled but for Executive's Separation from Service during the year such Qualifying Termination occurs based on the Company's actual financial performance for such fiscal year (and with no adjustment for individual performance) prorated for the period of actual employment during such fiscal year, which shall be paid on the date the STIP payment is otherwise paid to similar situated employees of the Company pursuant to the STIP, but in no event later than September 15 of the year following Executive's Separation from Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>During the Change in Control Period</u>. Subject to Sections 3(iii) and 5 herein, if the Qualifying Termination occurs during the Change in Control Period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Accrued Benefits, which shall be paid in a lump sum on the first regular pay date following the Separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)an amount equal to two (2) times the Executive's Annual Compensation, which, subject to Section 20(ii), shall be paid in a lump sum within the fifteen (15) day period following the Qualifying Termination;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)an amount equal to two (2) times the Executive's annual target STIP payment for the year of the Qualifying Termination, which, subject to Section 20(ii), shall be paid in a lump sum within the fifteen (15) day period following the Qualifying Termination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)the Company shall reimburse the Executive for the reasonable costs, fees and expenses of outplacement assistance services (not to exceed twenty thousand dollars ($20,000)) provided by any bona fide outplacement agency selected by the Executive, subject to the Executive's providing the Company with substantiation and documentation of such fees. The outplacement expenses must be incurred by the Executive no later than the December 31 of the second calendar year following the calendar year in which Executive's termination occurs and must be paid by the Company no later than the last day of the third fiscal year following the fiscal year in which Executive's termination occurs. In no event will the Executive be entitled to receive the cash value of the outplacement services in lieu of the outplacement services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)<u>Payment Conditions</u>. The Executive's receipt of any severance payments or benefits upon the Executive's Qualifying Termination under this Section 3 is subject to the Executive's execution and non-revocation of a separation agreement and release of claims in a form reasonably satisfactory to the Company (the "Release") (which must become effective and irrevocable no later than the sixtieth (60th) day following the Executive's Qualifying Termination (the "Release Deadline")). Notwithstanding the times of payment otherwise set forth in Section 3, the payments due under Sections 3(i)(b) and (c) and Sections 3(ii)(b) and (c) shall be made (or commence to the Executive) within fifteen (15) days following receipt by the Company of the Release properly executed (and not revoked) by the Executive. If the Release does not become effective and irrevocable by the Release Deadline, the Executive will forfeit any right to severance payments or benefits under Section 3.

4.<u>Compensation Upon Termination as a result of Death or becoming Disabled</u>. Subject to Section 5, if the Executive Separates from Service on account of the Executive's death or the Executive becoming Disabled:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)the Executive or Executive's estate will be entitled to Accrued Benefits, which will be payable in a lump sum on the sixtieth (60th) calendar day following such Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)the Executive or Executive's estate, as applicable, will be entitled to a lump sum payment equal to twelve (12) times the full monthly cost of premiums Executive would pay in the first calendar month immediately following the calendar month that includes the Executive's date of termination if Executive timely elected to continue coverage at the level in effect immediately prior to Executive's Separation from Service in any Company Group group medical, dental, vision or prescription drug plans in which Executive or Executive's eligible dependents are entitled to continue participation under COBRA or other similar applicable law for Executive (in the event of Executive becoming Disabled) and Executive's then-covered dependents, if applicable (in the event of death or Executive becoming Disabled) payable in a lump sum on the sixtieth (60th) calendar day following such Separation from Service.

5.<u>Parachute Payments</u>. If the Board determines, in its sole discretion, that Section 280G of the Code applies to any compensation or benefits payable to the Executive, then the provisions of this Section 5 shall apply to such compensation or benefits, as applicable. If any payments or benefits to which the Executive is entitled from the Company, any affiliate, any successor to the Company or an affiliate, or any trusts established by any of the foregoing by reason of, or in connection with, any transaction that occurs after the date hereof (collectively, the "Payments," which shall include, without limitation, the vesting of any equity awards or other non- cash benefit or property) are, alone or in the aggregate, more likely than not, if paid or delivered to the Executive, to be subject to the tax imposed by Section 4999 of the Code or any successor

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provisions to that section, then the Payments (beginning with any Payment to be paid in cash hereunder), shall be either (i) reduced (but not below zero) so that the present value of such total Payments received by the Executive will be one dollar less than three times the Executive's "base amount" (as defined in Section 280G(b)(3) of the Code) and so that no portion of such Payments received by the Executive shall be subject to the excise tax imposed by Section 4999 of the Code, or (ii) paid in full, whichever of (i) or (ii) produces the better net after tax position to the Executive (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes). The determination as to whether any Payments are more likely than not to be subject to taxes under Section 4999 of the Code and as to whether reduction or payment in full of the amount of the Payments provided hereunder results in the better net after tax position to the Executive shall be made by the Board in good faith, which, if reasonably necessary, will include making such determination based on advice from an independent public accounting firm with a national reputation in the United States.

6.<u>No Mitigation</u>. The Executive shall not be required to mitigate the amount of any payment provided herein by seeking other employment or otherwise, nor shall the amount of such payment be reduced by reason of compensation or other income the Executive receives for services rendered after the Executive's Separation from Service from the Company.

7.![image_0b.jpg](image_0b.jpg)<u>Exclusive Remedy</u>. In the event of the Executive's Separation from Service, this Agreement is intended to be and is exclusive and in lieu of any other rights or remedies to which the Executive or the Company may otherwise be entitled (including any contrary provisions in any employment agreement the Executive may have with the Company), whether at law, tort or contract, in equity, or under this Agreement.

8.<u>Company's Successors</u>. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, to expressly assume and agree to perform the obligations under this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. As used in this Section 8, Company includes any successor to its business or assets as aforesaid which executes and delivers this Agreement or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

9.<u>Notice</u>. All notices, demands and other communications required or permitted hereunder or designated to be given with respect to the rights or interests covered by this Agreement shall be deemed to have been properly given or delivered when delivered personally or sent by certified or registered mail, return receipt requested, U.S. mail or reputable overnight carrier, with full postage prepaid and addressed to the Parties as follows:

If to the Company, at:

14501 N. FWY<br>Fort Worth, Texas 76177 <br>Attention: General Counsel

If to Executive, at:

Executive's last known address reflected on the payroll records of the Company

The Company may change the above designated address by notice to the Executive. The Executive will maintain a current address with the payroll records of the Company.

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10.<u>Amendment</u>. No provisions of this Agreement may be amended, modified, waived or discharged unless the Executive and the Company agree to such amendment, modification, waiver or discharge in writing.

11.<u>Sole Agreement</u>. This Agreement represents the entire agreement between the Executive and the Company with respect to the matters set forth herein and supersedes and replaces any prior agreements in their entirety. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter of this Agreement will be made by either party which are not set forth expressly herein. No future agreement between the Executive and the Company may supersede this Agreement, unless it is in writing and specifically makes reference to this Section 11.

12.<u>Funding</u>. This Agreement shall be unfunded. Any payment made under the Agreement shall be made from the Company's general assets.

13.<u>Waiver</u>. No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

14.<u>Headings</u>. All captions and section headings used in this Agreement are for convenience purposes only and do not form a part of this Agreement.

15.![image_2b.jpg](image_2b.jpg)<u>Severability</u>. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.

16.<u>No Employment Contract</u>. Nothing contained in this Agreement shall confer upon the Executive any right to be employed or remain employed by the Company Group, nor limit or affect in any manner the right of the Company Group to terminate the employment or adjust the compensation of the Executive.

17.<u>Withholding</u>. All payments made pursuant to this Agreement will be subject to withholding of applicable income and employment taxes.

18. <u>Governing Law</u>. This Agreement shall be governed by and construed in accordance with the internal substantive laws of the State of Delaware, without giving effect to any principle of law that would result in the application of the law of any other jurisdiction.

19.<u>Counterparts</u>. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same agreement.

20.<u>Code Section 409A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>General</u>. The Agreement and any amounts payable or benefits that may be provided hereunder are intended to either comply with, or be exempt from, the requirements of Code Section 409A. To the extent that this Agreement and any amounts payable or benefits that may be provided hereunder are not exempt from the requirements of Code Section 409A, this Agreement is intended to comply with the requirements of Code Section 409A and shall be limited, construed and interpreted in accordance with such intent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>Separation from Service; Specified Employees; Separate Payments</u>. A termination of employment shall not be deemed to have occurred for purposes of any provision of this

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Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a Separation from Service. For the avoidance of doubt, none of Executive's compensation is earned or attributable to services in the capacity as a director of the Company but is attributable only to services as an employee. If the Executive is deemed on the date of termination to be a Specified Employee, then to the extent any payment or benefit hereunder (after taking into account all exclusions applicable thereto under Code Section 409A) is "nonqualified deferred compensation" subject to Code Section 409A, then such payment shall be delayed and not be made prior to the earlier of (a) the six-month anniversary of the date of such Separation from Service and (b) the date of the Executive's death (the "Delay Period"). All payments delayed pursuant to this Section 20(ii) (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such delay) shall be paid to the Executive in a single lump sum on the first payroll date on or following the first day following the expiration of the Delay Period, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Each payment made under this Agreement will be treated as a separate payment for purposes of Code Section 409A and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.

**[SIGNATURES FOLLOW]**

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**IN WITNESS WHEREOF,** this Agreement is executed effective as of the date first set forth above.

---

| | |
|:---|:---|
| **Farmer Bros. Co.** | **Farmer Bros. Co.** |
| By: | /s/ Jared Vitemb |
| Name: | Jared Vitemb |
| Title: | Vice President, General Counsel, Chief Compliance Officer and Secretary |
| **Executive** | **Executive** |
| By: | /s/ John Moore |
| Name: | John Moore |
| Title: | President and Chief Executive Officer |

---

*Signature Page to Amended and Restated Severance Agreement*

## Exhibit 10.4

**EXHIBIT 10.4**

**SECOND AMENDED AND RESTATED SEVERANCE AGREEMENT**

This **SECOND AMENDED AND RESTATED SEVERANCE AGREEMENT** (this "Agreement") is effective as of July 30, 2025 (the "Effective Date") and made by and between Farmer Bros. Co. (the "Company") and Vance Fisher (the "Executive"). The Company and the Executive are referred to herein as the "Parties."

**WHEREAS**, the Parties entered into an Amended and Restated Severance Agreement, dated June 10, 2024, which this Agreement will replace and supersede in its entirety, effective as of the Effective Date;

**WHEREAS**, the Company considers it essential to the best interests of the Company's shareholders to attract top executives and to foster the continuous employment of key management personnel; and

**WHEREAS**, in order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's continued services to the Company, the Company and the Executive desire to enter into this Agreement.

**NOW**, **THEREFORE**, in consideration of the foregoing, the Parties hereby agree as follows:

1.<u>Term of Agreement</u>. This Agreement shall be effective as of the date hereof and shall continue in effect until the earlier of (i) the Executive's Separation from Service and the Company's satisfaction of all of its obligations under this Agreement, if any; or (ii) the execution of a written agreement between the Company and the Executive terminating this Agreement.

2.<u>Definitions</u>. As used in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)"Accrued Benefits" means the total of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)any portion of Executive's base salary earned through the date of the Executive's Separation from Service but not yet paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to the extent an Executive is terminated following the end of the Company's fiscal year, but prior to the payment of any bonus under the Company's short-term incentive plan (the short-term incentive plan shall be hereinafter referred to as the "STIP"), the STIP payment that would have been paid to Executive based on the Company's actual financial performance for that fiscal year, with no adjustment for individual performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)a payment for Executive's earned but unused vacation time in accordance with applicable Company policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)reimbursements for any and all amounts advanced in connection with Executive's employment for reasonable and necessary expenses incurred by Executive through such Separation from Service in accordance with the Company's policies and procedures on reimbursement of expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)"Annual Compensation" means:

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**EXHIBIT 10.4**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)one year of base salary, at the highest base salary rate that the Executive was paid by the Company in the twelve (12) month period prior to the date of the Executive's Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)the amount the Executive would pay on an annual basis for COBRA continuation premiums (less required co-pay) if the Executive elected COBRA continuation coverage under the Company's group insurance plans for Executive and Executive's then-covered dependents, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)"Beneficial Ownership" or "Beneficially Owning" shall have the meanings ascribed to such terms in Rule 13d-3 of the General Rules and Regulations promulgated under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)"Board" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)"Cause" means (a) the willful and continued failure of Executive to perform Executive's material job duties with the Company Group (other than any such failure resulting from becoming Disabled), after a written demand for substantial performance is delivered to Executive by the Company which specifically identifies the manner in which the Company believes that Executive has not substantially performed Executive's duties and Executive has had an opportunity for thirty (30) days to cure such failure after receipt of such written demand; (b) engaging in an act (whether by act or omission) of willful misconduct, fraud, embezzlement, misappropriation or theft which results in damage to the Company Group; (c) conviction of Executive of, or Executive pleading guilty or nolo contendere to, a felony (other than a violation of a motor vehicle or moving violation law) or a misdemeanor if such misdemeanor (A) is reasonably expected to or actually causes material damage to the Company Group; or (B) involves the commission of a criminal act against the Company Group; or (d) the breach by Executive of any material provision of, or inaccuracy in any material respect of any representation made by Executive in, the Company's policies or any agreement to which the Executive is party with the Company or its affiliates, that is not cured within 30 days of written notice from the Company setting forth with reasonable particularity such breach or inaccuracy, provided that, if such breach or inaccuracy is not capable of being cured within 30 days after receipt of such notice, Executive shall not be entitled to such cure period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)"Change in Control" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)An acquisition by any Person (as such term is defined in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a "group" as defined in Section 13(d) thereof) of Beneficial Ownership of the Shares then outstanding (the "Company Shares Outstanding") or the voting securities of the Company then outstanding entitled to vote generally in the election of directors (the "Company Voting Securities Outstanding"), if such acquisition of Beneficial Ownership results in the Person Beneficially Owning fifty percent (50%) or more of the Company Shares Outstanding or fifty percent (50%) or more of the combined voting power of the Company Voting Securities Outstanding; excluding, however, any such acquisition by a trustee or other fiduciary holding such Shares under one or more employee benefit plans maintained by the Company or any of its subsidiaries; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The approval of the stockholders of the Company of a reorganization, merger, consolidation, complete liquidation, or dissolution of the Company, the sale or disposition of all or substantially all of the assets of the Company or any similar corporate transaction (in each case referred to in this Section 2(vi)(b) as a "Corporate Transaction"), other than a Corporate Transaction that would result in the outstanding common stock of the Company immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or affiliate thereof) at least fifty

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**EXHIBIT 10.4**

percent (50%) of the outstanding common stock of the Company or such surviving entity or parent or affiliate thereof immediately after such Corporate Transaction; provided, however, if the consummation of such Corporate Transaction is subject, at the time of such approval by stockholders, to the consent of any government or governmental agency, the Change in Control shall not occur until the obtaining of such consent (either explicitly or implicitly); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)A change in the composition of the Board such that the individuals who, as of the Effective Date, constitute the Board (such Board shall be hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 2(vi)(c) that any individual who becomes a member of the Board subsequent to the Effective Date whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act, including any successor to such Rule), or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board, shall not be so considered as a member of the Incumbent Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)"Change in Control Period" means the period beginning on the effective date of a Change in Control and ending on the first anniversary of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)"COBRA" means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)"Code" means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)"Company Group" means the Company and its subsidiaries collectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)"Disabled" has the meaning set forth under applicable state or federal law, and no reasonable accommodation can be provided without undue hardship to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)"Exchange Act" means the Securities Exchange Act of 1934, as amended, or any successor act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)"Good Reason" means, without the Executive's consent: (a) a material reduction in Executive's base salary, other than pursuant to a reduction effective outside of the Change in Control Period and applicable to all executives or employees of the Company generally; (b) a move of Executive's primary place of work more than fifty (50) miles from its current location; or (c) a material diminution in Executive's normal duties and responsibilities, including, but not limited to, the assignment without Executive's consent of any diminished duties and responsibilities which are inconsistent with Executive's positions, duties and responsibilities with the Company Group on the date of this Agreement, or a materially adverse change in Executive's reporting responsibilities or titles as in effect on the date of this Agreement, or any removal of Executive from or any failure to re-elect Executive to any of such positions, except in connection with the termination of the Executive's employment for Cause or upon death, the Executive becoming Disabled, voluntary resignation or other termination of employment by the Executive without Good Reason; provided that, in each case, Executive must provide at least thirty (30) days' prior written notice of termination for Good Reason within 30 days after the occurrence of the event that Executive claims constitutes Good Reason, and the Company shall have the opportunity to cure such circumstances within thirty (30) days of receipt of such notice. For the avoidance of doubt, Good Reason shall not exist hereunder unless and until the 30-day cure period following receipt by the Company of Executive's written notice expires and the Company

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**EXHIBIT 10.4**

shall not have cured such circumstances, and in such case Executive's employment shall terminate for Good Reason on the day following expiration of such 30-day notice period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)"Qualifying Termination" means a Separation from Service on account of a termination of employment by the Company without Cause or the Executive's resignation for Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)"Separation from Service" or "Separates from Service" or similar terms means a termination of employment with the Company Group that the Company determines is a "separation from service" in accordance with Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)"Shares" means shares of the common stock of the Company, par value $1.00 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii)"Specified Employee" means a "specified employee" within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time in accordance therewith, or if none, the default methodology set forth therein.

3.<u>Compensation Upon a Termination by the Company Without Cause or by the Executive for Good Reason</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)<u>Outside the Change in Control Period</u>. Subject to Section 3(iii) herein, upon a Qualifying Termination that occurs outside of the Change in Control Period, the Executive will be entitled to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Accrued Benefits, which shall be paid in a lump sum payment on the first regular pay date following the Separation from Service, except for any portion of Accrued Benefits attributable to any earned STIP payment, which shall be paid on the date the STIP payment would have been made to the Executive but for the Separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)an amount equal to the Executive's Annual Compensation, which subject to Section 20(ii) below, shall be paid in regular bi-weekly installments on the Company's regular pay dates, commencing on the first regular pay date following the Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)an amount equal to the STIP payment Executive would have otherwise been entitled but for Executive's Separation from Service during the year such Qualifying Termination occurs based on the Company's actual financial performance for such fiscal year (and with no adjustment for individual performance) prorated for the period of actual employment during such fiscal year, which shall be paid on the date the STIP payment is otherwise paid to similar situated employees of the Company pursuant to the STIP, but in no event later than September 15 of the year following Executive's Separation from Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>During the Change in Control Period</u>. Subject to Sections 3(iii) and 5 herein, if the Qualifying Termination occurs during the Change in Control Period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Accrued Benefits, which shall be paid in a lump sum on the first regular pay date following the Separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)an amount equal to two (2) times the Executive's Annual Compensation, which, subject to Section 20(ii), shall be paid in a lump sum within the fifteen (15) day period following the Qualifying Termination;

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**EXHIBIT 10.4**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)an amount equal to two (2) times the Executive's annual target STIP payment for the year of the Qualifying Termination, which, subject to Section 20(ii), shall be paid in a lump sum within the fifteen (15) day period following the Qualifying Termination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)the Company shall reimburse the Executive for the reasonable costs, fees and expenses of outplacement assistance services (not to exceed twenty thousand dollars ($20,000)) provided by any bona fide outplacement agency selected by the Executive, subject to the Executive's providing the Company with substantiation and documentation of such fees. The outplacement expenses must be incurred by the Executive no later than the December 31 of the second calendar year following the calendar year in which Executive's termination occurs and must be paid by the Company no later than the last day of the third fiscal year following the fiscal year in which Executive's termination occurs. In no event will the Executive be entitled to receive the cash value of the outplacement services in lieu of the outplacement services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)<u>Payment Conditions</u>. The Executive's receipt of any severance payments or benefits upon the Executive's Qualifying Termination under this Section 3 is subject to the Executive's execution and non-revocation of a separation agreement and release of claims in a form reasonably satisfactory to the Company (the "Release") (which must become effective and irrevocable no later than the sixtieth (60th) day following the Executive's Qualifying Termination (the "Release Deadline")). Notwithstanding the times of payment otherwise set forth in Section 3, the payments due under Sections 3(i)(b) and (c) and Sections 3(ii)(b) and (c) shall be made (or commence to the Executive) within fifteen (15) days following receipt by the Company of the Release properly executed (and not revoked) by the Executive. If the Release does not become effective and irrevocable by the Release Deadline, the Executive will forfeit any right to severance payments or benefits under Section 3.

4.<u>Compensation Upon Termination as a result of Death or becoming Disabled</u>. Subject to Section 5, if the Executive Separates from Service on account of the Executive's death or the Executive becoming Disabled:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)the Executive or Executive's estate will be entitled to Accrued Benefits, which will be payable in a lump sum on the sixtieth (60th) calendar day following such Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)the Executive or Executive's estate, as applicable, will be entitled to a lump sum payment equal to twelve (12) times the full monthly cost of premiums Executive would pay in the first calendar month immediately following the calendar month that includes the Executive's date of termination if Executive timely elected to continue coverage at the level in effect immediately prior to Executive's Separation from Service in any Company Group group medical, dental, vision or prescription drug plans in which Executive or Executive's eligible dependents are entitled to continue participation under COBRA or other similar applicable law for Executive (in the event of Executive becoming Disabled) and Executive's then-covered dependents, if applicable (in the event of death or Executive becoming Disabled) payable in a lump sum on the sixtieth (60th) calendar day following such Separation from Service.

5.<u>Parachute Payments</u>. If the Board determines, in its sole discretion, that Section 280G of the Code applies to any compensation or benefits payable to the Executive, then the provisions of this Section 5 shall apply to such compensation or benefits, as applicable. If any payments or benefits to which the Executive is entitled from the Company, any affiliate, any successor to the Company or an affiliate, or any trusts established by any of the foregoing by reason of, or in connection with, any transaction that occurs after the date hereof (collectively, the "Payments," which shall include, without limitation, the vesting of any equity awards or other non- cash benefit or property) are, alone or in the aggregate, more likely than not, if paid or delivered to the Executive, to be subject to the tax imposed by Section 4999 of the Code or any successor

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**EXHIBIT 10.4**

provisions to that section, then the Payments (beginning with any Payment to be paid in cash hereunder), shall be either (i) reduced (but not below zero) so that the present value of such total Payments received by the Executive will be one dollar less than three times the Executive's "base amount" (as defined in Section 280G(b)(3) of the Code) and so that no portion of such Payments received by the Executive shall be subject to the excise tax imposed by Section 4999 of the Code, or (ii) paid in full, whichever of (i) or (ii) produces the better net after tax position to the Executive (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes). The determination as to whether any Payments are more likely than not to be subject to taxes under Section 4999 of the Code and as to whether reduction or payment in full of the amount of the Payments provided hereunder results in the better net after tax position to the Executive shall be made by the Board in good faith, which, if reasonably necessary, will include making such determination based on advice from an independent public accounting firm with a national reputation in the United States.

6.<u>No Mitigation</u>. The Executive shall not be required to mitigate the amount of any payment provided herein by seeking other employment or otherwise, nor shall the amount of such payment be reduced by reason of compensation or other income the Executive receives for services rendered after the Executive's Separation from Service from the Company.

7.![image_0.jpg](image_0.jpg)<u>Exclusive Remedy</u>. In the event of the Executive's Separation from Service, this Agreement is intended to be and is exclusive and in lieu of any other rights or remedies to which the Executive or the Company may otherwise be entitled (including any contrary provisions in any employment agreement the Executive may have with the Company), whether at law, tort or contract, in equity, or under this Agreement.

8.<u>Company's Successors</u>. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, to expressly assume and agree to perform the obligations under this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. As used in this Section 8, Company includes any successor to its business or assets as aforesaid which executes and delivers this Agreement or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

9.<u>Notice</u>. All notices, demands and other communications required or permitted hereunder or designated to be given with respect to the rights or interests covered by this Agreement shall be deemed to have been properly given or delivered when delivered personally or sent by certified or registered mail, return receipt requested, U.S. mail or reputable overnight carrier, with full postage prepaid and addressed to the Parties as follows:

If to the Company, at:

14501 N. FWY<br>Fort Worth, Texas 76177 <br>Attention: General Counsel

If to Executive, at:

Executive's last known address reflected on the payroll records of the Company

The Company may change the above designated address by notice to the Executive. The Executive will maintain a current address with the payroll records of the Company.

------

**EXHIBIT 10.4**

10.<u>Amendment</u>. No provisions of this Agreement may be amended, modified, waived or discharged unless the Executive and the Company agree to such amendment, modification, waiver or discharge in writing.

11.<u>Sole Agreement</u>. This Agreement represents the entire agreement between the Executive and the Company with respect to the matters set forth herein and supersedes and replaces any prior agreements in their entirety. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter of this Agreement will be made by either party which are not set forth expressly herein. No future agreement between the Executive and the Company may supersede this Agreement, unless it is in writing and specifically makes reference to this Section 11.

12.<u>Funding</u>. This Agreement shall be unfunded. Any payment made under the Agreement shall be made from the Company's general assets.

13.<u>Waiver</u>. No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

14.<u>Headings</u>. All captions and section headings used in this Agreement are for convenience purposes only and do not form a part of this Agreement.

15.![image_2.jpg](image_2.jpg)<u>Severability</u>. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.

16.<u>No Employment Contract</u>. Nothing contained in this Agreement shall confer upon the Executive any right to be employed or remain employed by the Company Group, nor limit or affect in any manner the right of the Company Group to terminate the employment or adjust the compensation of the Executive.

17.<u>Withholding</u>. All payments made pursuant to this Agreement will be subject to withholding of applicable income and employment taxes.

18. <u>Governing Law</u>. This Agreement shall be governed by and construed in accordance with the internal substantive laws of the State of Delaware, without giving effect to any principle of law that would result in the application of the law of any other jurisdiction.

19.<u>Counterparts</u>. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same agreement.

20.<u>Code Section 409A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>General</u>. The Agreement and any amounts payable or benefits that may be provided hereunder are intended to either comply with, or be exempt from, the requirements of Code Section 409A. To the extent that this Agreement and any amounts payable or benefits that may be provided hereunder are not exempt from the requirements of Code Section 409A, this Agreement is intended to comply with the requirements of Code Section 409A and shall be limited, construed and interpreted in accordance with such intent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>Separation from Service; Specified Employees; Separate Payments</u>. A termination of employment shall not be deemed to have occurred for purposes of any provision of this

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**EXHIBIT 10.4**

Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a Separation from Service. For the avoidance of doubt, none of Executive's compensation is earned or attributable to services in the capacity as a director of the Company but is attributable only to services as an employee. If the Executive is deemed on the date of termination to be a Specified Employee, then to the extent any payment or benefit hereunder (after taking into account all exclusions applicable thereto under Code Section 409A) is "nonqualified deferred compensation" subject to Code Section 409A, then such payment shall be delayed and not be made prior to the earlier of (a) the six-month anniversary of the date of such Separation from Service and (b) the date of the Executive's death (the "Delay Period"). All payments delayed pursuant to this Section 20(ii) (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such delay) shall be paid to the Executive in a single lump sum on the first payroll date on or following the first day following the expiration of the Delay Period, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Each payment made under this Agreement will be treated as a separate payment for purposes of Code Section 409A and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.

**[SIGNATURES FOLLOW]**

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**EXHIBIT 10.4**

**IN WITNESS WHEREOF,** this Agreement is executed effective as of the date first set forth above.

---

| | |
|:---|:---|
| **Farmer Bros. Co.** | **Farmer Bros. Co.** |
| By: | /s/ Jared Vitemb |
| Name: | Jared Vitemb |
| Title: | Vice President, General Counsel, Chief Compliance Officer and Secretary |
| **Executive** | **Executive** |
| By: | /s/ Vance Fisher |
| Name: | Vance Fisher |
| Title: | Chief Financial Officer |

---

*Signature Page to Amended and Restated Severance Agreement*

## Exhibit 10.5

**EXHIBIT 10.5**

**SECOND AMENDED AND RESTATED SEVERANCE AGREEMENT**

This **SECOND AMENDED AND RESTATED SEVERANCE AGREEMENT** (this "Agreement") is effective as of July 30, 2025 (the "Effective Date") and made by and between Farmer Bros. Co. (the "Company") and Jared Vitemb (the "Executive"). The Company and the Executive are referred to herein as the "Parties."

**WHEREAS**, the Parties entered into an Amended and Restated Severance Agreement, dated June 30, 2023, which this Agreement will replace and supersede in its entirety, effective as of the Effective Date;

**WHEREAS**, the Company considers it essential to the best interests of the Company's shareholders to attract top executives and to foster the continuous employment of key management personnel; and

**WHEREAS**, in order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's continued services to the Company, the Company and the Executive desire to enter into this Agreement.

**NOW**, **THEREFORE**, in consideration of the foregoing, the Parties hereby agree as follows:

1.<u>Term of Agreement</u>. This Agreement shall be effective as of the date hereof and shall continue in effect until the earlier of (i) the Executive's Separation from Service and the Company's satisfaction of all of its obligations under this Agreement, if any; or (ii) the execution of a written agreement between the Company and the Executive terminating this Agreement.

2.<u>Definitions</u>. As used in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)"Accrued Benefits" means the total of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)any portion of Executive's base salary earned through the date of the Executive's Separation from Service but not yet paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to the extent an Executive is terminated following the end of the Company's fiscal year, but prior to the payment of any bonus under the Company's short-term incentive plan (the short-term incentive plan shall be hereinafter referred to as the "STIP"), the STIP payment that would have been paid to Executive based on the Company's actual financial performance for that fiscal year, with no adjustment for individual performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)a payment for Executive's earned but unused vacation time in accordance with applicable Company policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)reimbursements for any and all amounts advanced in connection with Executive's employment for reasonable and necessary expenses incurred by Executive through such Separation from Service in accordance with the Company's policies and procedures on reimbursement of expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)"Annual Compensation" means:

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**EXHIBIT 10.5**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)one year of base salary, at the highest base salary rate that the Executive was paid by the Company in the twelve (12) month period prior to the date of the Executive's Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)the amount the Executive would pay on an annual basis for COBRA continuation premiums (less required co-pay) if the Executive elected COBRA continuation coverage under the Company's group insurance plans for Executive and Executive's then-covered dependents, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)"Beneficial Ownership" or "Beneficially Owning" shall have the meanings ascribed to such terms in Rule 13d-3 of the General Rules and Regulations promulgated under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)"Board" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)"Cause" means (a) the willful and continued failure of Executive to perform Executive's material job duties with the Company Group (other than any such failure resulting from becoming Disabled), after a written demand for substantial performance is delivered to Executive by the Company which specifically identifies the manner in which the Company believes that Executive has not substantially performed Executive's duties and Executive has had an opportunity for thirty (30) days to cure such failure after receipt of such written demand; (b) engaging in an act (whether by act or omission) of willful misconduct, fraud, embezzlement, misappropriation or theft which results in damage to the Company Group; (c) conviction of Executive of, or Executive pleading guilty or nolo contendere to, a felony (other than a violation of a motor vehicle or moving violation law) or a misdemeanor if such misdemeanor (A) is reasonably expected to or actually causes material damage to the Company Group; or (B) involves the commission of a criminal act against the Company Group; or (d) the breach by Executive of any material provision of, or inaccuracy in any material respect of any representation made by Executive in, the Company's policies or any agreement to which the Executive is party with the Company or its affiliates, that is not cured within 30 days of written notice from the Company setting forth with reasonable particularity such breach or inaccuracy, provided that, if such breach or inaccuracy is not capable of being cured within 30 days after receipt of such notice, Executive shall not be entitled to such cure period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)"Change in Control" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)An acquisition by any Person (as such term is defined in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a "group" as defined in Section 13(d) thereof) of Beneficial Ownership of the Shares then outstanding (the "Company Shares Outstanding") or the voting securities of the Company then outstanding entitled to vote generally in the election of directors (the "Company Voting Securities Outstanding"), if such acquisition of Beneficial Ownership results in the Person Beneficially Owning fifty percent (50%) or more of the Company Shares Outstanding or fifty percent (50%) or more of the combined voting power of the Company Voting Securities Outstanding; excluding, however, any such acquisition by a trustee or other fiduciary holding such Shares under one or more employee benefit plans maintained by the Company or any of its subsidiaries; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The approval of the stockholders of the Company of a reorganization, merger, consolidation, complete liquidation, or dissolution of the Company, the sale or disposition of all or substantially all of the assets of the Company or any similar corporate transaction (in each case referred to in this Section 2(vi)(b) as a "Corporate Transaction"), other than a Corporate Transaction that would result in the outstanding common stock of the Company immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or affiliate thereof) at least fifty

------

**EXHIBIT 10.5**

percent (50%) of the outstanding common stock of the Company or such surviving entity or parent or affiliate thereof immediately after such Corporate Transaction; provided, however, if the consummation of such Corporate Transaction is subject, at the time of such approval by stockholders, to the consent of any government or governmental agency, the Change in Control shall not occur until the obtaining of such consent (either explicitly or implicitly); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)A change in the composition of the Board such that the individuals who, as of the Effective Date, constitute the Board (such Board shall be hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 2(vi)(c) that any individual who becomes a member of the Board subsequent to the Effective Date whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act, including any successor to such Rule), or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board, shall not be so considered as a member of the Incumbent Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)"Change in Control Period" means the period beginning on the effective date of a Change in Control and ending on the first anniversary of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)"COBRA" means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)"Code" means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)"Company Group" means the Company and its subsidiaries collectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)"Disabled" has the meaning set forth under applicable state or federal law, and no reasonable accommodation can be provided without undue hardship to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)"Exchange Act" means the Securities Exchange Act of 1934, as amended, or any successor act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)"Good Reason" means, without the Executive's consent: (a) a material reduction in Executive's base salary, other than pursuant to a reduction effective outside of the Change in Control Period and applicable to all executives or employees of the Company generally; (b) a move of Executive's primary place of work more than fifty (50) miles from its current location; or (c) a material diminution in Executive's normal duties and responsibilities, including, but not limited to, the assignment without Executive's consent of any diminished duties and responsibilities which are inconsistent with Executive's positions, duties and responsibilities with the Company Group on the date of this Agreement, or a materially adverse change in Executive's reporting responsibilities or titles as in effect on the date of this Agreement, or any removal of Executive from or any failure to re-elect Executive to any of such positions, except in connection with the termination of the Executive's employment for Cause or upon death, the Executive becoming Disabled, voluntary resignation or other termination of employment by the Executive without Good Reason; provided that, in each case, Executive must provide at least thirty (30) days' prior written notice of termination for Good Reason within 30 days after the occurrence of the event that Executive claims constitutes Good Reason, and the Company shall have the opportunity to cure such circumstances within thirty (30) days of receipt of such notice. For the avoidance of doubt, Good Reason shall not exist hereunder unless and until the 30-day cure period following receipt by the Company of Executive's written notice expires and the Company

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**EXHIBIT 10.5**

shall not have cured such circumstances, and in such case Executive's employment shall terminate for Good Reason on the day following expiration of such 30-day notice period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)"Qualifying Termination" means a Separation from Service on account of a termination of employment by the Company without Cause or the Executive's resignation for Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)"Separation from Service" or "Separates from Service" or similar terms means a termination of employment with the Company Group that the Company determines is a "separation from service" in accordance with Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)"Shares" means shares of the common stock of the Company, par value $1.00 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii)"Specified Employee" means a "specified employee" within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time in accordance therewith, or if none, the default methodology set forth therein.

3.<u>Compensation Upon a Termination by the Company Without Cause or by the Executive for Good Reason</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)<u>Outside the Change in Control Period</u>. Subject to Section 3(iii) herein, upon a Qualifying Termination that occurs outside of the Change in Control Period, the Executive will be entitled to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Accrued Benefits, which shall be paid in a lump sum payment on the first regular pay date following the Separation from Service, except for any portion of Accrued Benefits attributable to any earned STIP payment, which shall be paid on the date the STIP payment would have been made to the Executive but for the Separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)an amount equal to the Executive's Annual Compensation, which subject to Section 20(ii) below, shall be paid in regular bi-weekly installments on the Company's regular pay dates, commencing on the first regular pay date following the Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)an amount equal to the STIP payment Executive would have otherwise been entitled but for Executive's Separation from Service during the year such Qualifying Termination occurs based on the Company's actual financial performance for such fiscal year (and with no adjustment for individual performance) prorated for the period of actual employment during such fiscal year, which shall be paid on the date the STIP payment is otherwise paid to similar situated employees of the Company pursuant to the STIP, but in no event later than September 15 of the year following Executive's Separation from Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>During the Change in Control Period</u>. Subject to Sections 3(iii) and 5 herein, if the Qualifying Termination occurs during the Change in Control Period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Accrued Benefits, which shall be paid in a lump sum on the first regular pay date following the Separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)an amount equal to two (2) times the Executive's Annual Compensation, which, subject to Section 20(ii), shall be paid in a lump sum within the fifteen (15) day period following the Qualifying Termination;

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**EXHIBIT 10.5**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)an amount equal to two (2) times the Executive's annual target STIP payment for the year of the Qualifying Termination, which, subject to Section 20(ii), shall be paid in a lump sum within the fifteen (15) day period following the Qualifying Termination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)the Company shall reimburse the Executive for the reasonable costs, fees and expenses of outplacement assistance services (not to exceed twenty thousand dollars ($20,000)) provided by any bona fide outplacement agency selected by the Executive, subject to the Executive's providing the Company with substantiation and documentation of such fees. The outplacement expenses must be incurred by the Executive no later than the December 31 of the second calendar year following the calendar year in which Executive's termination occurs and must be paid by the Company no later than the last day of the third fiscal year following the fiscal year in which Executive's termination occurs. In no event will the Executive be entitled to receive the cash value of the outplacement services in lieu of the outplacement services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)<u>Payment Conditions</u>. The Executive's receipt of any severance payments or benefits upon the Executive's Qualifying Termination under this Section 3 is subject to the Executive's execution and non-revocation of a separation agreement and release of claims in a form reasonably satisfactory to the Company (the "Release") (which must become effective and irrevocable no later than the sixtieth (60th) day following the Executive's Qualifying Termination (the "Release Deadline")). Notwithstanding the times of payment otherwise set forth in Section 3, the payments due under Sections 3(i)(b) and (c) and Sections 3(ii)(b) and (c) shall be made (or commence to the Executive) within fifteen (15) days following receipt by the Company of the Release properly executed (and not revoked) by the Executive. If the Release does not become effective and irrevocable by the Release Deadline, the Executive will forfeit any right to severance payments or benefits under Section 3.

4.<u>Compensation Upon Termination as a result of Death or becoming Disabled</u>. Subject to Section 5, if the Executive Separates from Service on account of the Executive's death or the Executive becoming Disabled:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)the Executive or Executive's estate will be entitled to Accrued Benefits, which will be payable in a lump sum on the sixtieth (60th) calendar day following such Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)the Executive or Executive's estate, as applicable, will be entitled to a lump sum payment equal to twelve (12) times the full monthly cost of premiums Executive would pay in the first calendar month immediately following the calendar month that includes the Executive's date of termination if Executive timely elected to continue coverage at the level in effect immediately prior to Executive's Separation from Service in any Company Group group medical, dental, vision or prescription drug plans in which Executive or Executive's eligible dependents are entitled to continue participation under COBRA or other similar applicable law for Executive (in the event of Executive becoming Disabled) and Executive's then-covered dependents, if applicable (in the event of death or Executive becoming Disabled) payable in a lump sum on the sixtieth (60th) calendar day following such Separation from Service.

5.<u>Parachute Payments</u>. If the Board determines, in its sole discretion, that Section 280G of the Code applies to any compensation or benefits payable to the Executive, then the provisions of this Section 5 shall apply to such compensation or benefits, as applicable. If any payments or benefits to which the Executive is entitled from the Company, any affiliate, any successor to the Company or an affiliate, or any trusts established by any of the foregoing by reason of, or in connection with, any transaction that occurs after the date hereof (collectively, the "Payments," which shall include, without limitation, the vesting of any equity awards or other non- cash benefit or property) are, alone or in the aggregate, more likely than not, if paid or delivered to the Executive, to be subject to the tax imposed by Section 4999 of the Code or any successor

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**EXHIBIT 10.5**

provisions to that section, then the Payments (beginning with any Payment to be paid in cash hereunder), shall be either (i) reduced (but not below zero) so that the present value of such total Payments received by the Executive will be one dollar less than three times the Executive's "base amount" (as defined in Section 280G(b)(3) of the Code) and so that no portion of such Payments received by the Executive shall be subject to the excise tax imposed by Section 4999 of the Code, or (ii) paid in full, whichever of (i) or (ii) produces the better net after tax position to the Executive (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes). The determination as to whether any Payments are more likely than not to be subject to taxes under Section 4999 of the Code and as to whether reduction or payment in full of the amount of the Payments provided hereunder results in the better net after tax position to the Executive shall be made by the Board in good faith, which, if reasonably necessary, will include making such determination based on advice from an independent public accounting firm with a national reputation in the United States.

6.<u>No Mitigation</u>. The Executive shall not be required to mitigate the amount of any payment provided herein by seeking other employment or otherwise, nor shall the amount of such payment be reduced by reason of compensation or other income the Executive receives for services rendered after the Executive's Separation from Service from the Company.

7.![image_0a.jpg](image_0a.jpg)<u>Exclusive Remedy</u>. In the event of the Executive's Separation from Service, this Agreement is intended to be and is exclusive and in lieu of any other rights or remedies to which the Executive or the Company may otherwise be entitled (including any contrary provisions in any employment agreement the Executive may have with the Company), whether at law, tort or contract, in equity, or under this Agreement.

8.<u>Company's Successors</u>. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, to expressly assume and agree to perform the obligations under this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. As used in this Section 8, Company includes any successor to its business or assets as aforesaid which executes and delivers this Agreement or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

9.<u>Notice</u>. All notices, demands and other communications required or permitted hereunder or designated to be given with respect to the rights or interests covered by this Agreement shall be deemed to have been properly given or delivered when delivered personally or sent by certified or registered mail, return receipt requested, U.S. mail or reputable overnight carrier, with full postage prepaid and addressed to the Parties as follows:

If to the Company, at:

14501 N. FWY<br>Fort Worth, Texas 76177 <br>Attention: General Counsel

If to Executive, at:

Executive's last known address reflected on the payroll records of the Company

The Company may change the above designated address by notice to the Executive. The Executive will maintain a current address with the payroll records of the Company.

------

**EXHIBIT 10.5**

10.<u>Amendment</u>. No provisions of this Agreement may be amended, modified, waived or discharged unless the Executive and the Company agree to such amendment, modification, waiver or discharge in writing.

11.<u>Sole Agreement</u>. This Agreement represents the entire agreement between the Executive and the Company with respect to the matters set forth herein and supersedes and replaces any prior agreements in their entirety. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter of this Agreement will be made by either party which are not set forth expressly herein. No future agreement between the Executive and the Company may supersede this Agreement, unless it is in writing and specifically makes reference to this Section 11.

12.<u>Funding</u>. This Agreement shall be unfunded. Any payment made under the Agreement shall be made from the Company's general assets.

13.<u>Waiver</u>. No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

14.<u>Headings</u>. All captions and section headings used in this Agreement are for convenience purposes only and do not form a part of this Agreement.

15.![image_2a.jpg](image_2a.jpg)<u>Severability</u>. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.

16.<u>No Employment Contract</u>. Nothing contained in this Agreement shall confer upon the Executive any right to be employed or remain employed by the Company Group, nor limit or affect in any manner the right of the Company Group to terminate the employment or adjust the compensation of the Executive.

17.<u>Withholding</u>. All payments made pursuant to this Agreement will be subject to withholding of applicable income and employment taxes.

18. <u>Governing Law</u>. This Agreement shall be governed by and construed in accordance with the internal substantive laws of the State of Delaware, without giving effect to any principle of law that would result in the application of the law of any other jurisdiction.

19.<u>Counterparts</u>. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same agreement.

20.<u>Code Section 409A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>General</u>. The Agreement and any amounts payable or benefits that may be provided hereunder are intended to either comply with, or be exempt from, the requirements of Code Section 409A. To the extent that this Agreement and any amounts payable or benefits that may be provided hereunder are not exempt from the requirements of Code Section 409A, this Agreement is intended to comply with the requirements of Code Section 409A and shall be limited, construed and interpreted in accordance with such intent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>Separation from Service; Specified Employees; Separate Payments</u>. A termination of employment shall not be deemed to have occurred for purposes of any provision of this

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**EXHIBIT 10.5**

Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a Separation from Service. For the avoidance of doubt, none of Executive's compensation is earned or attributable to services in the capacity as a director of the Company but is attributable only to services as an employee. If the Executive is deemed on the date of termination to be a Specified Employee, then to the extent any payment or benefit hereunder (after taking into account all exclusions applicable thereto under Code Section 409A) is "nonqualified deferred compensation" subject to Code Section 409A, then such payment shall be delayed and not be made prior to the earlier of (a) the six-month anniversary of the date of such Separation from Service and (b) the date of the Executive's death (the "Delay Period"). All payments delayed pursuant to this Section 20(ii) (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such delay) shall be paid to the Executive in a single lump sum on the first payroll date on or following the first day following the expiration of the Delay Period, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Each payment made under this Agreement will be treated as a separate payment for purposes of Code Section 409A and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.

**[SIGNATURES FOLLOW]**

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**EXHIBIT 10.5**

**IN WITNESS WHEREOF,** this Agreement is executed effective as of the date first set forth above.

---

| | |
|:---|:---|
| **Farmer Bros. Co.** | **Farmer Bros. Co.** |
| By: | /s/ John Moore |
| Name: | John Moore |
| Title: | President and Chief Executive Officer |
| **Executive** | **Executive** |
| By: | /s/ Jared Vitemb |
| Name: | Jared Vitemb |
| Title: | Vice President, General Counsel, Chief Compliance Officer and Secretary |

---

*Signature Page to Amended and Restated Severance Agreement*

## Exhibit 10.6

**Ex 10.6**

**SECOND AMENDED AND RESTATED SEVERANCE AGREEMENT**

This **SECOND AMENDED AND RESTATED SEVERANCE AGREEMENT** (this "Agreement") is effective as of July 30, 2025 (the "Effective Date") and made by and between Farmer Bros. Co. (the "Company") and Brian Miller (the "Executive"). The Company and the Executive are referred to herein as the "Parties."

**WHEREAS**, the Parties entered into an Amended and Restated Severance Agreement, dated January 13, 2025, which this Agreement will replace and supersede in its entirety, effective as of the Effective Date;

**WHEREAS**, the Company considers it essential to the best interests of the Company's shareholders to attract top executives and to foster the continuous employment of key management personnel; and

**WHEREAS**, in order to induce the Executive to remain in the employ of the Company and in consideration of the Executive's continued services to the Company, the Company and the Executive desire to enter into this Agreement.

**NOW**, **THEREFORE**, in consideration of the foregoing, the Parties hereby agree as follows:

1.<u>Term of Agreement</u>. This Agreement shall be effective as of the date hereof and shall continue in effect until the earlier of (i) the Executive's Separation from Service and the Company's satisfaction of all of its obligations under this Agreement, if any; or (ii) the execution of a written agreement between the Company and the Executive terminating this Agreement.

2.<u>Definitions</u>. As used in this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)"Accrued Benefits" means the total of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)any portion of Executive's base salary earned through the date of the Executive's Separation from Service but not yet paid;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)to the extent an Executive is terminated following the end of the Company's fiscal year, but prior to the payment of any bonus under the Company's short-term incentive plan (the short-term incentive plan shall be hereinafter referred to as the "STIP"), the STIP payment that would have been paid to Executive based on the Company's actual financial performance for that fiscal year, with no adjustment for individual performance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)a payment for Executive's earned but unused vacation time in accordance with applicable Company policy; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)reimbursements for any and all amounts advanced in connection with Executive's employment for reasonable and necessary expenses incurred by Executive through such Separation from Service in accordance with the Company's policies and procedures on reimbursement of expenses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)"Annual Compensation" means:

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)one year of base salary, at the highest base salary rate that the Executive was paid by the Company in the twelve (12) month period prior to the date of the Executive's Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)the amount the Executive would pay on an annual basis for COBRA continuation premiums (less required co-pay) if the Executive elected COBRA continuation coverage under the Company's group insurance plans for Executive and Executive's then-covered dependents, if applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)"Beneficial Ownership" or "Beneficially Owning" shall have the meanings ascribed to such terms in Rule 13d-3 of the General Rules and Regulations promulgated under the Exchange Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv)"Board" means the Board of Directors of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v)"Cause" means (a) the willful and continued failure of Executive to perform Executive's material job duties with the Company Group (other than any such failure resulting from becoming Disabled), after a written demand for substantial performance is delivered to Executive by the Company which specifically identifies the manner in which the Company believes that Executive has not substantially performed Executive's duties and Executive has had an opportunity for thirty (30) days to cure such failure after receipt of such written demand; (b) engaging in an act (whether by act or omission) of willful misconduct, fraud, embezzlement, misappropriation or theft which results in damage to the Company Group; (c) conviction of Executive of, or Executive pleading guilty or nolo contendere to, a felony (other than a violation of a motor vehicle or moving violation law) or a misdemeanor if such misdemeanor (A) is reasonably expected to or actually causes material damage to the Company Group; or (B) involves the commission of a criminal act against the Company Group; or (d) the breach by Executive of any material provision of, or inaccuracy in any material respect of any representation made by Executive in, the Company's policies or any agreement to which the Executive is party with the Company or its affiliates, that is not cured within 30 days of written notice from the Company setting forth with reasonable particularity such breach or inaccuracy, provided that, if such breach or inaccuracy is not capable of being cured within 30 days after receipt of such notice, Executive shall not be entitled to such cure period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi)"Change in Control" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)An acquisition by any Person (as such term is defined in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a "group" as defined in Section 13(d) thereof) of Beneficial Ownership of the Shares then outstanding (the "Company Shares Outstanding") or the voting securities of the Company then outstanding entitled to vote generally in the election of directors (the "Company Voting Securities Outstanding"), if such acquisition of Beneficial Ownership results in the Person Beneficially Owning fifty percent (50%) or more of the Company Shares Outstanding or fifty percent (50%) or more of the combined voting power of the Company Voting Securities Outstanding; excluding, however, any such acquisition by a trustee or other fiduciary holding such Shares under one or more employee benefit plans maintained by the Company or any of its subsidiaries; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The approval of the stockholders of the Company of a reorganization, merger, consolidation, complete liquidation, or dissolution of the Company, the sale or disposition of all or substantially all of the assets of the Company or any similar corporate transaction (in each case referred to in this Section 2(vi)(b) as a "Corporate Transaction"), other than a Corporate Transaction that would result in the outstanding common stock of the Company immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or affiliate thereof) at least fifty

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percent (50%) of the outstanding common stock of the Company or such surviving entity or parent or affiliate thereof immediately after such Corporate Transaction; provided, however, if the consummation of such Corporate Transaction is subject, at the time of such approval by stockholders, to the consent of any government or governmental agency, the Change in Control shall not occur until the obtaining of such consent (either explicitly or implicitly); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)A change in the composition of the Board such that the individuals who, as of the Effective Date, constitute the Board (such Board shall be hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 2(vi)(c) that any individual who becomes a member of the Board subsequent to the Effective Date whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act, including any successor to such Rule), or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board, shall not be so considered as a member of the Incumbent Board.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii)"Change in Control Period" means the period beginning on the effective date of a Change in Control and ending on the first anniversary of such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii)"COBRA" means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix)"Code" means the Internal Revenue Code of 1986, as amended.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)"Company Group" means the Company and its subsidiaries collectively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xi)"Disabled" has the meaning set forth under applicable state or federal law, and no reasonable accommodation can be provided without undue hardship to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xii)"Exchange Act" means the Securities Exchange Act of 1934, as amended, or any successor act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiii)"Good Reason" means, without the Executive's consent: (a) a material reduction in Executive's base salary, other than pursuant to a reduction effective outside of the Change in Control Period and applicable to all executives or employees of the Company generally; (b) a move of Executive's primary place of work more than fifty (50) miles from its current location; or (c) a material diminution in Executive's normal duties and responsibilities, including, but not limited to, the assignment without Executive's consent of any diminished duties and responsibilities which are inconsistent with Executive's positions, duties and responsibilities with the Company Group on the date of this Agreement, or a materially adverse change in Executive's reporting responsibilities or titles as in effect on the date of this Agreement, or any removal of Executive from or any failure to re-elect Executive to any of such positions, except in connection with the termination of the Executive's employment for Cause or upon death, the Executive becoming Disabled, voluntary resignation or other termination of employment by the Executive without Good Reason; provided that, in each case, Executive must provide at least thirty (30) days' prior written notice of termination for Good Reason within 30 days after the occurrence of the event that Executive claims constitutes Good Reason, and the Company shall have the opportunity to cure such circumstances within thirty (30) days of receipt of such notice. For the avoidance of doubt, Good Reason shall not exist hereunder unless and until the 30-day cure period following receipt by the Company of Executive's written notice expires and the Company

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shall not have cured such circumstances, and in such case Executive's employment shall terminate for Good Reason on the day following expiration of such 30-day notice period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xiv)"Qualifying Termination" means a Separation from Service on account of a termination of employment by the Company without Cause or the Executive's resignation for Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xv)"Separation from Service" or "Separates from Service" or similar terms means a termination of employment with the Company Group that the Company determines is a "separation from service" in accordance with Section 409A of the Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvi)"Shares" means shares of the common stock of the Company, par value $1.00 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(xvii)"Specified Employee" means a "specified employee" within the meaning of that term under Section 409A(a)(2)(B) of the Code and using the identification methodology selected by the Company from time to time in accordance therewith, or if none, the default methodology set forth therein.

3.<u>Compensation Upon a Termination by the Company Without Cause or by the Executive for Good Reason</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)<u>Outside the Change in Control Period</u>. Subject to Section 3(iii) herein, upon a Qualifying Termination that occurs outside of the Change in Control Period, the Executive will be entitled to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Accrued Benefits, which shall be paid in a lump sum payment on the first regular pay date following the Separation from Service, except for any portion of Accrued Benefits attributable to any earned STIP payment, which shall be paid on the date the STIP payment would have been made to the Executive but for the Separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)an amount equal to the Executive's Annual Compensation, which subject to Section 20(ii) below, shall be paid in regular bi-weekly installments on the Company's regular pay dates, commencing on the first regular pay date following the Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)an amount equal to the STIP payment Executive would have otherwise been entitled but for Executive's Separation from Service during the year such Qualifying Termination occurs based on the Company's actual financial performance for such fiscal year (and with no adjustment for individual performance) prorated for the period of actual employment during such fiscal year, which shall be paid on the date the STIP payment is otherwise paid to similar situated employees of the Company pursuant to the STIP, but in no event later than September 15 of the year following Executive's Separation from Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>During the Change in Control Period</u>. Subject to Sections 3(iii) and 5 herein, if the Qualifying Termination occurs during the Change in Control Period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)Accrued Benefits, which shall be paid in a lump sum on the first regular pay date following the Separation from Service;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)an amount equal to two (2) times the Executive's Annual Compensation, which, subject to Section 20(ii), shall be paid in a lump sum within the fifteen (15) day period following the Qualifying Termination;

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)an amount equal to two (2) times the Executive's annual target STIP payment for the year of the Qualifying Termination, which, subject to Section 20(ii), shall be paid in a lump sum within the fifteen (15) day period following the Qualifying Termination; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)the Company shall reimburse the Executive for the reasonable costs, fees and expenses of outplacement assistance services (not to exceed twenty thousand dollars ($20,000)) provided by any bona fide outplacement agency selected by the Executive, subject to the Executive's providing the Company with substantiation and documentation of such fees. The outplacement expenses must be incurred by the Executive no later than the December 31 of the second calendar year following the calendar year in which Executive's termination occurs and must be paid by the Company no later than the last day of the third fiscal year following the fiscal year in which Executive's termination occurs. In no event will the Executive be entitled to receive the cash value of the outplacement services in lieu of the outplacement services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii)<u>Payment Conditions</u>. The Executive's receipt of any severance payments or benefits upon the Executive's Qualifying Termination under this Section 3 is subject to the Executive's execution and non-revocation of a separation agreement and release of claims in a form reasonably satisfactory to the Company (the "Release") (which must become effective and irrevocable no later than the sixtieth (60th) day following the Executive's Qualifying Termination (the "Release Deadline")). Notwithstanding the times of payment otherwise set forth in Section 3, the payments due under Sections 3(i)(b) and (c) and Sections 3(ii)(b) and (c) shall be made (or commence to the Executive) within fifteen (15) days following receipt by the Company of the Release properly executed (and not revoked) by the Executive. If the Release does not become effective and irrevocable by the Release Deadline, the Executive will forfeit any right to severance payments or benefits under Section 3.

4.<u>Compensation Upon Termination as a result of Death or becoming Disabled</u>. Subject to Section 5, if the Executive Separates from Service on account of the Executive's death or the Executive becoming Disabled:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)the Executive or Executive's estate will be entitled to Accrued Benefits, which will be payable in a lump sum on the sixtieth (60th) calendar day following such Separation from Service; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)the Executive or Executive's estate, as applicable, will be entitled to a lump sum payment equal to twelve (12) times the full monthly cost of premiums Executive would pay in the first calendar month immediately following the calendar month that includes the Executive's date of termination if Executive timely elected to continue coverage at the level in effect immediately prior to Executive's Separation from Service in any Company Group group medical, dental, vision or prescription drug plans in which Executive or Executive's eligible dependents are entitled to continue participation under COBRA or other similar applicable law for Executive (in the event of Executive becoming Disabled) and Executive's then-covered dependents, if applicable (in the event of death or Executive becoming Disabled) payable in a lump sum on the sixtieth (60th) calendar day following such Separation from Service.

5.<u>Parachute Payments</u>. If the Board determines, in its sole discretion, that Section 280G of the Code applies to any compensation or benefits payable to the Executive, then the provisions of this Section 5 shall apply to such compensation or benefits, as applicable. If any payments or benefits to which the Executive is entitled from the Company, any affiliate, any successor to the Company or an affiliate, or any trusts established by any of the foregoing by reason of, or in connection with, any transaction that occurs after the date hereof (collectively, the "Payments," which shall include, without limitation, the vesting of any equity awards or other non- cash benefit or property) are, alone or in the aggregate, more likely than not, if paid or delivered to the Executive, to be subject to the tax imposed by Section 4999 of the Code or any successor

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provisions to that section, then the Payments (beginning with any Payment to be paid in cash hereunder), shall be either (i) reduced (but not below zero) so that the present value of such total Payments received by the Executive will be one dollar less than three times the Executive's "base amount" (as defined in Section 280G(b)(3) of the Code) and so that no portion of such Payments received by the Executive shall be subject to the excise tax imposed by Section 4999 of the Code, or (ii) paid in full, whichever of (i) or (ii) produces the better net after tax position to the Executive (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes). The determination as to whether any Payments are more likely than not to be subject to taxes under Section 4999 of the Code and as to whether reduction or payment in full of the amount of the Payments provided hereunder results in the better net after tax position to the Executive shall be made by the Board in good faith, which, if reasonably necessary, will include making such determination based on advice from an independent public accounting firm with a national reputation in the United States.

6.<u>No Mitigation</u>. The Executive shall not be required to mitigate the amount of any payment provided herein by seeking other employment or otherwise, nor shall the amount of such payment be reduced by reason of compensation or other income the Executive receives for services rendered after the Executive's Separation from Service from the Company.

7.![image_0c.jpg](image_0c.jpg)<u>Exclusive Remedy</u>. In the event of the Executive's Separation from Service, this Agreement is intended to be and is exclusive and in lieu of any other rights or remedies to which the Executive or the Company may otherwise be entitled (including any contrary provisions in any employment agreement the Executive may have with the Company), whether at law, tort or contract, in equity, or under this Agreement.

8.<u>Company's Successors</u>. The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or assets of the Company, to expressly assume and agree to perform the obligations under this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place. As used in this Section 8, Company includes any successor to its business or assets as aforesaid which executes and delivers this Agreement or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

9.<u>Notice</u>. All notices, demands and other communications required or permitted hereunder or designated to be given with respect to the rights or interests covered by this Agreement shall be deemed to have been properly given or delivered when delivered personally or sent by certified or registered mail, return receipt requested, U.S. mail or reputable overnight carrier, with full postage prepaid and addressed to the Parties as follows:

If to the Company, at:

14501 N. FWY<br>Fort Worth, Texas 76177 <br>Attention: General Counsel

If to Executive, at:

Executive's last known address reflected on the payroll records of the Company

The Company may change the above designated address by notice to the Executive. The Executive will maintain a current address with the payroll records of the Company.

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10.<u>Amendment</u>. No provisions of this Agreement may be amended, modified, waived or discharged unless the Executive and the Company agree to such amendment, modification, waiver or discharge in writing.

11.<u>Sole Agreement</u>. This Agreement represents the entire agreement between the Executive and the Company with respect to the matters set forth herein and supersedes and replaces any prior agreements in their entirety. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter of this Agreement will be made by either party which are not set forth expressly herein. No future agreement between the Executive and the Company may supersede this Agreement, unless it is in writing and specifically makes reference to this Section 11.

12.<u>Funding</u>. This Agreement shall be unfunded. Any payment made under the Agreement shall be made from the Company's general assets.

13.<u>Waiver</u>. No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time.

14.<u>Headings</u>. All captions and section headings used in this Agreement are for convenience purposes only and do not form a part of this Agreement.

15.![image_2c.jpg](image_2c.jpg)<u>Severability</u>. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable.

16.<u>No Employment Contract</u>. Nothing contained in this Agreement shall confer upon the Executive any right to be employed or remain employed by the Company Group, nor limit or affect in any manner the right of the Company Group to terminate the employment or adjust the compensation of the Executive.

17.<u>Withholding</u>. All payments made pursuant to this Agreement will be subject to withholding of applicable income and employment taxes.

18. <u>Governing Law</u>. This Agreement shall be governed by and construed in accordance with the internal substantive laws of the State of Delaware, without giving effect to any principle of law that would result in the application of the law of any other jurisdiction.

19.<u>Counterparts</u>. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same agreement.

20.<u>Code Section 409A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) <u>General</u>. The Agreement and any amounts payable or benefits that may be provided hereunder are intended to either comply with, or be exempt from, the requirements of Code Section 409A. To the extent that this Agreement and any amounts payable or benefits that may be provided hereunder are not exempt from the requirements of Code Section 409A, this Agreement is intended to comply with the requirements of Code Section 409A and shall be limited, construed and interpreted in accordance with such intent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii)<u>Separation from Service; Specified Employees; Separate Payments</u>. A termination of employment shall not be deemed to have occurred for purposes of any provision of this

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Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a Separation from Service. For the avoidance of doubt, none of Executive's compensation is earned or attributable to services in the capacity as a director of the Company but is attributable only to services as an employee. If the Executive is deemed on the date of termination to be a Specified Employee, then to the extent any payment or benefit hereunder (after taking into account all exclusions applicable thereto under Code Section 409A) is "nonqualified deferred compensation" subject to Code Section 409A, then such payment shall be delayed and not be made prior to the earlier of (a) the six-month anniversary of the date of such Separation from Service and (b) the date of the Executive's death (the "Delay Period"). All payments delayed pursuant to this Section 20(ii) (whether they would have otherwise been payable in a single lump sum or in installments in the absence of such delay) shall be paid to the Executive in a single lump sum on the first payroll date on or following the first day following the expiration of the Delay Period, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Each payment made under this Agreement will be treated as a separate payment for purposes of Code Section 409A and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.

**[SIGNATURES FOLLOW]**

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**IN WITNESS WHEREOF,** this Agreement is executed effective as of the date first set forth above.

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| | |
|:---|:---|
| **Farmer Bros. Co.** | **Farmer Bros. Co.** |
| By: | /s/ Jared Vitemb |
| Name: | Jared Vitemb |
| Title: | Vice President, General Counsel, Chief Compliance Officer and Secretary |
| **Executive** | **Executive** |
| By: | /s/ Brian Miller |
| Name: | Brian Miller |
| Title: | President and Chief Executive Officer |

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*Signature Page to Amended and Restated Severance Agreement*

## Exhibit 10.7

**EXHIBIT 10.7**

August 08, 2025

Re:&nbsp;&nbsp;&nbsp;&nbsp;<u>Bonus Opportunities</u>

Dear Mr. Moore:

The purpose of this letter agreement (this "<u>Agreement</u>") is to summarize the terms of a cash bonus that you are eligible to receive from Farmer Bros. Co. (the "<u>Company</u>") either (i) in connection with a Change in Control (as such term is defined in the Company's Amended and Restated 2017 Long-Term Incentive Plan or in any amended and restated, replacement or successor plans) (the "<u>LTIP</u>") that is consummated on or before January 1, 2026, subject to your continuous employment through the consummation of such Change in Control, or (ii) if a Change in Control has not been consummated by January 1, 2026, subject to your continuous employment through January 1, 2026. The payment of either bonus, as applicable, is subject to the terms and conditions described herein. This Agreement shall apply only to the first Change in Control that occurs following the date hereof and shall automatically terminate following such Change in Control or, if earlier, upon the payment of the Special Bonus pursuant to <u>Section 1(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.Transaction Bonus or Special Bonus; Potential PBRSU Grant.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)You will be eligible to receive a one-time cash transaction bonus equal to $400,000 (the "<u>Transaction Bonus</u>"), less applicable taxes and withholdings, subject to (i) your continuous employment with the Company through the consummation of a Change in Control, (ii) the consummation of such Change in Control on or before January 1, 2026, and (iii) the other terms and conditions of this Agreement. If earned under this Agreement, the Transaction Bonus shall be paid to you in a lump sum on the closing date of such Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)In the event that no Change in Control occurs on or before January 1, 2026, then, in lieu of the Transaction Bonus, you will be eligible to receive a one-time cash bonus equal to $200,000 (the "<u>Special Bonus</u>"), less applicable taxes and withholdings, subject to (i) your continuous employment with the Company through January 1, 2026, and (ii) the other terms and conditions of this Agreement. If earned under this Agreement, the Special Bonus shall be paid to you in a lump sum on the first payroll date following January 1, 2026. In addition, and also solely in the event that no Change in Control has been consummated on or before January 1, 2026, the Company will grant to you a performance-based Restricted Stock Unit ("<u>PBRSU</u>") award in the amount of $300,000 under the LTIP on January 2, 2026. Such PBRSU award shall be granted with such terms as determined by the Compensation Committee of the Board of Directors of the Company in accordance with the LTIP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)For the avoidance of doubt, you shall be eligible for either the Transaction Bonus or the Special Bonus, but in no event both bonus amounts, and in each case subject to your continuous employment through the applicable vesting date described in this <u>Section 1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.Governing Law.** The Agreement shall be governed by the laws of the State of Delaware, without giving effect to any conflicts of law principles thereof.

------

**EXHIBIT 10.7**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.Waiver of Jury Trial.** Each party hereby irrevocably waives their right to a jury for any action, proceeding or counterclaim arising from or relating to this Agreement, to the fullest extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.Entire Agreement.** This Agreement embodies the entire agreement and understanding of the parties in respect of the subject matter contained herein. This Agreement supersedes all prior agreements and understandings between the parties, whether written or oral, with respect to the subject matter hereof. This Agreement may be amended or modified only by written agreement signed by each of the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.Assignability.** You may not assign, delegate, or otherwise transfer any of your rights or obligations under this Agreement without the prior written consent of the Company. The Company may transfer or assign, in whole or from time to time in part, to one or more of its affiliates, or to any successor to one or more of its businesses, its rights or obligations under this Agreement without your consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.Section 409A.** Payments under this Agreement are intended to comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended. This Agreement shall be construed and interpreted in accordance with such intent. If any provision of this Agreement needs to be revised to satisfy the requirements of Section 409A of the Code, then such provision shall be modified or restricted to the extent and in the manner necessary to be in compliance with such requirements of Section 409A of the Code. Payments made to you under this Agreement in error shall be returned to the Company through the entity through which such amount was paid directly to you, and do not create a legally binding right to such payments.

&nbsp;&nbsp;&nbsp;&nbsp;Sincerely,

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Farmer Bros. Co.** | **Farmer Bros. Co.** |
| By: | /s/ Jared Vitemb |
| Name: | Jared Vitemb |
| Title: | Vice President, General Counsel, Chief Compliance Officer and Secretary |

---

&nbsp;&nbsp;&nbsp;&nbsp;

ACKNOWLEDGED AND AGREED<br>This 12<sup>th</sup> day of August, 2025

<u>/s/John Moore</u><br>Name: **John Moore**

## Exhibit 10.8

**Ex 10.8**

August 12, 2025

Re:&nbsp;&nbsp;&nbsp;&nbsp;<u>Bonus Opportunities</u>

Dear Mr. Fisher:

The purpose of this letter agreement (this "<u>Agreement</u>") is to summarize the terms of a cash bonus that you are eligible to receive from Farmer Bros. Co. (the "<u>Company</u>") either (i) in connection with a Change in Control (as such term is defined in the Company's Amended and Restated 2017 Long-Term Incentive Plan or in any amended and restated, replacement or successor plans) (the "<u>LTIP</u>") that is consummated on or before January 1, 2026, subject to your continuous employment through the consummation of such Change in Control, or (ii) if a Change in Control has not been consummated by January 1, 2026, subject to your continuous employment through January 1, 2026. The payment of either bonus, as applicable, is subject to the terms and conditions described herein. This Agreement shall apply only to the first Change in Control that occurs following the date hereof and shall automatically terminate following such Change in Control or, if earlier, upon the payment of the Special Bonus pursuant to <u>Section 1(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.Transaction Bonus or Special Bonus; Potential PBRSU Grant.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)You will be eligible to receive a one-time cash transaction bonus equal to $350,000 (the "<u>Transaction Bonus</u>"), less applicable taxes and withholdings, subject to (i) your continuous employment with the Company through the consummation of a Change in Control, (ii) the consummation of such Change in Control on or before January 1, 2026, and (iii) the other terms and conditions of this Agreement. If earned under this Agreement, the Transaction Bonus shall be paid to you in a lump sum on the closing date of such Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)In the event that no Change in Control occurs on or before January 1, 2026, then, in lieu of the Transaction Bonus, you will be eligible to receive a one-time cash bonus equal to $175,000 (the "<u>Special Bonus</u>"), less applicable taxes and withholdings, subject to (i) your continuous employment with the Company through January 1, 2026, and (ii) the other terms and conditions of this Agreement. If earned under this Agreement, the Special Bonus shall be paid to you in a lump sum on the first payroll date following January 1, 2026. In addition, and also solely in the event that no Change in Control has been consummated on or before January 1, 2026, the Company will grant to you a performance-based Restricted Stock Unit ("<u>PBRSU</u>") award in the amount of $75,000 under the LTIP on January 2, 2026. Such PBRSU award shall be granted with such terms as determined by the Compensation Committee of the Board of Directors of the Company in accordance with the LTIP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)For the avoidance of doubt, you shall be eligible for either the Transaction Bonus or the Special Bonus, but in no event both bonus amounts, and in each case subject to your continuous employment through the applicable vesting date described in this <u>Section 1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.Governing Law.** The Agreement shall be governed by the laws of the State of Delaware, without giving effect to any conflicts of law principles thereof.

------

**Ex 10.8**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.Waiver of Jury Trial.** Each party hereby irrevocably waives their right to a jury for any action, proceeding or counterclaim arising from or relating to this Agreement, to the fullest extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.Entire Agreement.** This Agreement embodies the entire agreement and understanding of the parties in respect of the subject matter contained herein. This Agreement supersedes all prior agreements and understandings between the parties, whether written or oral, with respect to the subject matter hereof. This Agreement may be amended or modified only by written agreement signed by each of the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.Assignability.** You may not assign, delegate, or otherwise transfer any of your rights or obligations under this Agreement without the prior written consent of the Company. The Company may transfer or assign, in whole or from time to time in part, to one or more of its affiliates, or to any successor to one or more of its businesses, its rights or obligations under this Agreement without your consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.Section 409A.** Payments under this Agreement are intended to comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended. This Agreement shall be construed and interpreted in accordance with such intent. If any provision of this Agreement needs to be revised to satisfy the requirements of Section 409A of the Code, then such provision shall be modified or restricted to the extent and in the manner necessary to be in compliance with such requirements of Section 409A of the Code. Payments made to you under this Agreement in error shall be returned to the Company through the entity through which such amount was paid directly to you, and do not create a legally binding right to such payments.

&nbsp;&nbsp;&nbsp;&nbsp;Sincerely,

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Farmer Bros. Co.** | **Farmer Bros. Co.** |
| By: | /s/ Jared Vitemb |
| Name: | Jared Vitemb |
| Title: | Vice President, General Counsel, Chief Compliance Officer and Secretary |

---

&nbsp;&nbsp;&nbsp;&nbsp;

ACKNOWLEDGED AND AGREED<br>This 12<sup>th</sup> day of August, 2025

<u>/s/Vance Fisher</u><br>Name: **Vance Fisher**

## Exhibit 10.9

**Ex 10.9**

August 12, 2025

Re:&nbsp;&nbsp;&nbsp;&nbsp;<u>Bonus Opportunities</u>

Dear Mr. Vitemb:

The purpose of this letter agreement (this "<u>Agreement</u>") is to summarize the terms of a cash bonus that you are eligible to receive from Farmer Bros. Co. (the "<u>Company</u>") either (i) in connection with a Change in Control (as such term is defined in the Company's Amended and Restated 2017 Long-Term Incentive Plan or in any amended and restated, replacement or successor plans) (the "<u>LTIP</u>") that is consummated on or before January 1, 2026, subject to your continuous employment through the consummation of such Change in Control, or (ii) if a Change in Control has not been consummated by January 1, 2026, subject to your continuous employment through January 1, 2026. The payment of either bonus, as applicable, is subject to the terms and conditions described herein. This Agreement shall apply only to the first Change in Control that occurs following the date hereof and shall automatically terminate following such Change in Control or, if earlier, upon the payment of the Special Bonus pursuant to <u>Section 1(b)</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.Transaction Bonus or Special Bonus; Potential PBRSU Grant.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)You will be eligible to receive a one-time cash transaction bonus equal to $200,000 (the "<u>Transaction Bonus</u>"), less applicable taxes and withholdings, subject to (i) your continuous employment with the Company through the consummation of a Change in Control, (ii) the consummation of such Change in Control on or before January 1, 2026, and (iii) the other terms and conditions of this Agreement. If earned under this Agreement, the Transaction Bonus shall be paid to you in a lump sum on the closing date of such Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)In the event that no Change in Control occurs on or before January 1, 2026, then, in lieu of the Transaction Bonus, you will be eligible to receive a one-time cash bonus equal to $100,000 (the "<u>Special Bonus</u>"), less applicable taxes and withholdings, subject to (i) your continuous employment with the Company through January 1, 2026, and (ii) the other terms and conditions of this Agreement. If earned under this Agreement, the Special Bonus shall be paid to you in a lump sum on the first payroll date following January 1, 2026. In addition, and also solely in the event that no Change in Control has been consummated on or before January 1, 2026, the Company will grant to you a performance-based Restricted Stock Unit ("<u>PBRSU</u>") award in the amount of $37,500 under the LTIP on January 2, 2026. Such PBRSU award shall be granted with such terms as determined by the Compensation Committee of the Board of Directors of the Company in accordance with the LTIP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)For the avoidance of doubt, you shall be eligible for either the Transaction Bonus or the Special Bonus, but in no event both bonus amounts, and in each case subject to your continuous employment through the applicable vesting date described in this <u>Section 1</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.Governing Law.** The Agreement shall be governed by the laws of the State of Delaware, without giving effect to any conflicts of law principles thereof.

------

**Ex 10.9**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.Waiver of Jury Trial.** Each party hereby irrevocably waives their right to a jury for any action, proceeding or counterclaim arising from or relating to this Agreement, to the fullest extent permitted by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.Entire Agreement.** This Agreement embodies the entire agreement and understanding of the parties in respect of the subject matter contained herein. This Agreement supersedes all prior agreements and understandings between the parties, whether written or oral, with respect to the subject matter hereof. This Agreement may be amended or modified only by written agreement signed by each of the parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.Assignability.** You may not assign, delegate, or otherwise transfer any of your rights or obligations under this Agreement without the prior written consent of the Company. The Company may transfer or assign, in whole or from time to time in part, to one or more of its affiliates, or to any successor to one or more of its businesses, its rights or obligations under this Agreement without your consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.Section 409A.** Payments under this Agreement are intended to comply with, or be exempt from, Section 409A of the Internal Revenue Code of 1986, as amended. This Agreement shall be construed and interpreted in accordance with such intent. If any provision of this Agreement needs to be revised to satisfy the requirements of Section 409A of the Code, then such provision shall be modified or restricted to the extent and in the manner necessary to be in compliance with such requirements of Section 409A of the Code. Payments made to you under this Agreement in error shall be returned to the Company through the entity through which such amount was paid directly to you, and do not create a legally binding right to such payments.

&nbsp;&nbsp;&nbsp;&nbsp;Sincerely,

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Farmer Bros. Co.** | **Farmer Bros. Co.** |
| By: | /s/ John Moore |
| Name: | John Moore |
| Title: | President and Chief Executive Officer |

---

ACKNOWLEDGED AND AGREED<br>This 12<sup>th</sup> day of August, 2025

<u>/s/ Jared Vitemb</u><br>Name: **Jared Vitemb**

## Exhibit 31.1

**EXHIBIT 31.1**

**Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**

I, John E. Moore III, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this Quarterly Report on Form 10-Q of Farmer Bros. Co.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 6, 2025

---

| |
|:---|
| /S/ JOHN E. MOORE III |
| **John E. Moore III**<br>**President and Chief Executive Officer**<br>**(principal executive officer)** |

---

## Exhibit 31.2

**EXHIBIT 31.2**

**Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**

I, Vance Ratliff Fisher, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this Quarterly Report on Form 10-Q of Farmer Bros. Co.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 6, 2025

---

| |
|:---|
| /s/ Vance Ratliff Fisher |
| **Vance Ratliff Fisher<br>Chief Financial Officer<br>(principal financial officer)** |

---

## Exhibit 32.1

**EXHIBIT 32.1**

**Certification of Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**

In connection with the Quarterly Report of Farmer Bros. Co. (the "Company") on Form 10-Q for the quarterly period ended September 30, 2025, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, John E Moore III, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: November 6, 2025

---

| |
|:---|
| /S/ JOHN E. MOORE III |
| **John E. Moore III**<br>**President and Chief Executive Officer**<br>**(principal executive officer)** |

---

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

## Exhibit 32.2

**EXHIBIT 32.2**

**Certification of Principal Financial and Accounting Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**

In connection with the Quarterly Report of Farmer Bros. Co. (the "Company") on Form 10-Q for the quarterly period ended September 30, 2025, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Vance Ratliff Fisher, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: November 6, 2025

---

| |
|:---|
| /s/ Vance Ratliff Fisher |
| **Vance Ratliff Fisher<br>Chief Financial Officer<br>(principal financial officer)** |

---

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

<br>