Document:

Exhibit 10.2 Q2 FY2015

                    
SIXTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Sixteenth Amendment to Employment Agreement is made and entered into as of January 1, 2015 by and between PriceSmart, Inc., a Delaware Corporation ("Employer") and William Naylon ("Executive").

Recitals

		
	A)
	On January 16, 2002 an Employment Agreement ("Agreement") was made and entered into by and between Employer and Executive.

		
	B)
	Said Employment Agreement has been amended on fifteen prior occasions;

		
	C)
	Employer and Executive now desire to further amend the Agreement, as set forth hereinbelow:

Agreement

		
	1.
	Section 2.1 of the Agreement which provides:

		
	2.1 
	Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $416,160 during each year of the Employment Term.  Said salary shall be payable in equal installments in conformity with Employer's normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

 
is hereby amended, effective January 1, 2015, to provide as follows:

		
	1.
	Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $428,645 during each year of the Employment Term.  Said salary shall be payable in equal installments in conformity with Employer's normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

		
	2.
	Section 3.1 of the Agreement which provides: 

		
	3.1
	Term. The term of Executive’s employment hereunder shall commence on January 16, 2002 and shall continue until January 31, 2015 unless sooner terminated or extended as hereinafter provided.

is hereby amended, effective January 1, 2015, to provide as follows:

		
	1.
	Term.  The term of Executive’s employment hereunder shall commence on January 16, 2002 and shall continue until January 31, 2016 unless sooner terminated or extended as hereinafter provided.

		
	3.
	All other terms of the Agreement, as amended, shall remain unaltered and fully effective.

Executed in San Diego, California, as of the date first written above.

EXECUTIVE                        EMPLOYER
PriceSmart, INC.

William Naylon                     By: ______________________                

Name:     Jose Luis Laparte    
    
Its:     CEO and PresidentExhibit 10.3 FY2015

TWENTY-FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Twenty-Fifth Amendment to Employment Agreement is made and entered into as of January 1, 2015, by and between PriceSmart, Inc., a Delaware Corporation ("Employer") and John Hildebrandt ("Executive").

Recitals

		
	A)
	On June 1, 2001 an Employment Agreement was made and entered into by and between Employer and Executive.

		
	B)
	Said Employment Agreement has been amended on twenty-four prior occasions;

		
	C)
	Employer and Executive now desire to further amend the Employment Agreement, as set forth hereinbelow:

Agreement

1. Section 2.1 of the Agreement which provides:

		
	1.
	Salary.  For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $322,524 during each year of the Employment Term.  Said salary shall be payable in equal installments in conformity with Employer’s normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

 
is hereby amended, effective January 1, 2015, to provide as follows:

		
	1.
	Salary.  For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $332,200 during each year of the Employment Term.  Said salary shall be payable in equal installments in conformity with Employer’s normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

		
	1.
	All other terms of the Employment Agreement, as amended, shall remain unaltered and fully effective.

Executed in San Diego, California, as of the date first written above.

EXECUTIVE                        EMPLOYER
PriceSmart, INC.

John Hildebrandt                    By:     _____________________            
Name:     Jose Luis Laparte    
		
	Its: 
	CEO and PresidentExhibit 10.4 FY2015

TWENTY-FIFTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Twenty-Fifth Amendment to Employment Agreement is made and entered into as of January 1, 2015, by and between PriceSmart, Inc., a Delaware Corporation ("Employer") and Jose Luis Laparte ("Executive").

Recitals

		
	A)
	On June 3, 2004 an Employment Agreement was made and entered into by and between Employer and Executive.

		
	B)
	Said Employment Agreement has been amended on twenty-four prior occasions;

		
	C)
	Employer and Executive now desire to amend the Employment Agreement, as set forth hereinbelow:

Agreement

		
	1.
	Section 2.1 of the Employment Agreement, which currently provides:

2.1    Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $583,664 during each year of the Employment Term.  Said salary shall be payable in equal installments in conformity with Employer's normal payroll period.  Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.
 
is hereby amended, effective January 1, 2015 to provide as follows:

2.1    Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $601,174 during each year of the Employment Term.  Said salary shall be payable in equal installments in conformity with Employer's normal payroll period.  Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

		
	2.
	All other terms of the Employment Agreement, as amended, shall remain unaltered and fully effective.

Executed in San Diego, California, as of the date first written above.

EXECUTIVE                        EMPLOYER
PriceSmart, INC.

Jose Luis Laparte                     By:__________________                

Name: Robert M. Gans    

Its:     Executive Vice PresidentExhibit 10.5 FY2015

TWENTY- SEVENTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Twenty-Seventh Amendment to Employment Agreement is made and entered into as of January 1, 2015 by and between PriceSmart, Inc., a Delaware Corporation ("Employer") and Brud Drachman ("Executive").

Recitals

		
	A)
	On January 11, 2000 an Employment Agreement was made and entered into by and between Employer and Executive.

		
	B)
	Said Employment Agreement has been amended on twenty-six prior occasions;

		
	C)
	Employer and Executive now desire to further amend the Employment Agreement, as set forth hereinbelow:

Agreement

		
	1.
	Section 2.1 of the Agreement which, as amended, provides:

2.1     Salary.  For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $270,504 during each year of the Employment Term. Said salary shall be payable in equal installments in conformity with Employer’s normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

is hereby amended, effective January 1, 2015, to provide as follows:

2.1     Salary.  For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $278,619 during each year of the Employment Term. Said salary shall be payable in equal installments in conformity with Employer’s normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

		
	2.
	All other terms of the Employment Agreement, as amended, shall remain unaltered and fully effective.

Executed in San Diego, California, as of the date first written above.

EXECUTIVE                        EMPLOYER
PriceSmart, INC.

Brud Drachman                    By: ______________________                

Name:     Jose Luis Laparte    

Its:     CEO and PresidentExhibit 10.6 FY2015

TWENTY- NINTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Twenty-Ninth Amendment to Employment Agreement is made and entered into as of January 1, 2015, by and between PriceSmart, Inc., a Delaware Corporation ("Employer") and Thomas Martin ("Executive").

Recitals

		
	A)
	On March 31, 1998 an Employment Agreement was made and entered into by and between Employer and Executive. 

		
	B)
	Said Employment Agreement has been amended on twenty-eight prior occasions;

		
	C)
	Employer and Executive now desire to amend the Employment Agreement, as set forth hereinbelow:

Agreement 

1.    Section 2.1 of the Agreement which provides:

2.1     Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $364,140 during each year of the Employment Term.  Said salary shall be payable in equal installments in conformity with Employer's normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.
 
is hereby amended, effective January 1, 2015, to provide as follows:

2.1    Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $375,064 during each year of the Employment Term.  Said salary shall be payable in equal installments in conformity with Employer's normal payroll period. Executive shall receive such salary increases, if any, as Employer, in its sole discretion, shall determine.

		
	2.
	All other terms of the Employment Agreement, as amended, shall remain unaltered and fully effective.

Executed in San Diego, California, as of the date first written above.

EXECUTIVE                            EMPLOYER
PriceSmart, INC.

Thomas Martin                    By: ______________________                
Name:     Jose Luis Laparte    

Its:     CEO and President

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