Document:

Eighth Amendment to Employment Agreement

 Exhibit 10.2 
 EIGHTH AMENDMENT TO EMPLOYMENT AGREEMENT 
 This Eighth Amendment to Employment Agreement is made and
entered into as of January 1, 2008, 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 seven 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: 

  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $212,200 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.

 is hereby amended, effective January 1, 2008, to provide as follows: 
  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $218,600 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.

				
	 John Hildebrandt
	 		 	 By:
	 	 
				
	 	 		 	 Name:
	 	 Jose Luis Laparte

				
		 		 	 Its:
	 	 PresidentEighth Amendment to Employment Agreement

 Exhibit 10.3 
 EIGHTH AMENDMENT TO EMPLOYMENT AGREEMENT 
 This Eighth Amendment to Employment Agreement is made and
entered into as of January 1, 2008, 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 seven 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 currently provides: 

  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $382,000 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, 2008, to provide as follows: 
  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $400,000 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 PresidentTenth Amendment to Employment Agreement

 Exhibit 10.4 
 TENTH AMENDMENT TO EMPLOYMENT AGREEMENT 
 This Tenth Amendment to Employment Agreement is made and
entered into as of January 1, 2008, by and between PriceSmart, Inc., a Delaware Corporation (“Employer”) and Edward Oats (“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 nine 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 $188,000 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, 2008, to provide as follows: 
  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $193,700 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.

				
	 Edward Oats
	 		 	 By:
	 	 
				
	 	 		 	 Name:
	 	 Jose Luis Laparte

				
		 		 	 Its:
	 	 PresidentEleventh Amendment to Employment Agreement

 Exhibit 10.5 
 ELEVENTH AMENDMENT TO EMPLOYMENT AGREEMENT 
 This Eleventh Amendment to Employment Agreement is made
and entered into as of January 1, 2008 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 ten 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 $188,000 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, 2008, to provide as follows: 
  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $193,700 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:
	 	 PresidentTwelfth Amendment to Employment Agreement

 Exhibit 10.6 
 TWELFTH AMENDMENT TO EMPLOYMENT AGREEMENT 
 This Twelfth Amendment to Employment
Agreement is made and entered into as of January 1, 2008, 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 eleven 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 $228,200 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.

 is hereby amended, effective January 1, 2008, to provide as follows: 
  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $241,892 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:
	 	 PresidentNineteenth Amendment to Employment Agreement

 Exhibit 10.7 
 NINETEENTH AMENDMENT TO EMPLOYMENT AGREEMENT 
 This Nineteenth Amendment to
Employment Agreement is made and entered into as of January 1, 2008, by and between PriceSmart, Inc., a Delaware Corporation (“Employer”) and Robert M. Gans (“Executive”). 
 Recitals 
  

	 	 A)
	 On September 20, 1994 an Employment Agreement was made and entered into by and between Executive and Price Enterprises, Inc. 

 

	 	 B)
	 Said Employment Agreement has been assigned to Employer and amended on eighteen 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: 

  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $265,300 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, 2008, to provide as follows: 
  

	 	 2.1
	 Salary. For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $273,300 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.

				
	 Robert M. Gans
	 		 	 By:
	 	 
				
	 	 		 	 Name:
	 	 Jose Luis Laparte

				
		 		 	 Its:
	 	 President

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