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O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Diedrich CEO's Base Salary $300,000

October 27, 2000|Dow Jones

Diedrich Coffee Inc.'s new chief executive, J. Michael Jenkins, will receive a base salary of $300,000 a year, according to a document the company filed Thursday with the Securities and Exchange Commission.

In addition, Jenkins will receive a guaranteed bonus of $100,000 on the first anniversary of his employment with the Irvine coffee company. Subsequent bonuses will be based on specific objectives and targets.

Jenkins also received options to purchase 500,000 shares of Diedrich common stock.

On Sept. 25, the company named Jenkins chief executive and president, replacing Timothy Ryan, who retired. Jenkins previously served as chief executive and president of T.G.I. Friday's, a restaurant chain.

Ryan had received a base salary of $223,077 this year and $200,000 last year, according to the filing.

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