Document:

ex10_4.htm

 

 

FIFTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Fifteenth Amendment to Employment Agreement is made and entered into as of February 1, 2010, 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 fourteen 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 $244,800 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.

 

 

is hereby amended, effective February 1, 2010, to provide as follows:

	
2.1  

	
Salary.  For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $251,000 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:           Presidentex10_5.htm

SIXTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Sixteenth Amendment to Employment Agreement is made and entered into as of January 1, 2010 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 fifteen 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 $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.

is hereby amended, effective January 1, 2010, to provide as follows:

2.1           Salary.  For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $201,552 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:           Presidentex10_6.htm

SEVENTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Seventeenth Amendment to Employment Agreement is made and entered into as of January 1, 2010, 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 sixteen 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 $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.

 

 

is hereby amended, effective January 1, 2010, to provide as follows:

2.1           Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $251,736 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:           Presidentex10_7.htm

EIGHTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Eighteenth Amendment to Employment Agreement is made and entered into as of February 1, 2010, 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 seventeen 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 $251,736 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 February 1, 2010, to provide as follows:

2.1           Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $260,000 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.

Thomas Martin                                                                           By:           

______________________                                                   Name:     Jose Luis Laparte 

                          Its:           Presidentex10_8.htm

TWENTY-FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Twenty-Fourth Amendment to Employment Agreement is made and entered into as of January 1, 2010, 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 twenty-three 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 $278,766 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, 2010, to provide as follows:

	
2.1  

	
Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $284,341 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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