Document:

ex-10_2.htm

    
      

      

    

    ELEVENTH
AMENDMENT TO EMPLOYMENT AGREEMENT

    

    

    

    This
Eleventh Amendment to Employment Agreement is made and entered into as of
January 1, 2009, 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 ten 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 $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.

    

    is hereby
amended, effective January 1, 2009, to provide as follows:

    

    2.1           Salary.  For
Executive's services hereunder, Employer shall pay as base salary to Executive
the amount of $408,000 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
Presidentex-10_3.htm

    
      

      

    

    ELEVENTH
AMENDMENT TO EMPLOYMENT AGREEMENT

    

    

    

    This
Eleventh Amendment to Employment Agreement is made and entered into as of
January 1, 2009, 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 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 provides:

    

    
      	
              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.

            

    

    

    is hereby
amended, effective January 1, 2009, to provide as follows:

    

    
      	
              2.1  

            	
              Salary.  For
      Executive’s services hereunder, Employer shall pay as base salary to
      Executive the amount of $223,000 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.

    

    John
Hildebrandt                                                                                     By:           ______________________

    

    ______________________                                                                Name:      Jose Luis
Laparte

    

                                          Its:           
Presidentex-10_4.htm

    
      

      

    

    FOURTEENTH
AMENDMENT TO EMPLOYMENT AGREEMENT

    

    

    

    This
Fourteenth Amendment to Employment Agreement is made and entered into as of
January 1, 2009 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 thirteen 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 $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.

    

    is hereby
amended, effective January 1, 2009, to provide as follows:

    

    2.1           Salary.  For
Executive’s services hereunder, Employer shall pay as base salary to Executive
the amount of $197,600 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.

    

    Brud
Drachman                                                                                     By:         ______________________  

    

    ______________________                                                             Name:     Jose Luis
Laparte

    

                                         
Its:           Presidentex-10_5.htm

    FIFTEENTH
AMENDMENT TO EMPLOYMENT AGREEMENT

    

    

    This
Fifteenth Amendment to Employment Agreement is made and entered into as of
January 1, 2009, 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 fourteen 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 $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.

    

    is hereby
amended, effective January 1, 2009, to provide as follows:

    

    2.1           Salary.  For
Executive's services hereunder, Employer shall pay as base salary to Executive
the amount of $246,800 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:           President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]