Document:

ex10_2.htm

 

SIXTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT

 

This Sixteenth Amendment to Employment Agreement is made and entered into as of January 10, 2011, 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 fifteen 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 $500,000 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, 2011, to provide as follows:

2.1           Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $510,000 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 Presidentex10_3.htm

 

SEVENTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Seventeenth Amendment to Employment Agreement is made and entered into as of January 10, 2011, 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 sixteen 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 $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.

 

 

is hereby amended, effective January 1, 2011, to provide as follows:

	
2.1  

	
Salary.  For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $256,020 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:

	
CEO and Presidentex10_4.htm

 

EIGHTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Sixteenth Amendment to Employment Agreement is made and entered into as of January 10, 2011 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 seventeen 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 $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.

is hereby amended, effective January 1, 2011, to provide as follows:

2.1           Salary.  For Executive’s services hereunder, Employer shall pay as base salary to Executive the amount of $205,583 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 Presidentex10_5.htm

 

TWENTIETH AMENDMENT TO EMPLOYMENT AGREEMENT

This Twentieth Amendment to Employment Agreement is made and entered into as of January 10, 2011, 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 nineteen 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 $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.

 

 

is hereby amended, effective January 1, 2011, to provide as follows:

2.1           Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $265,200 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.

	
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 Presidentex10_6.htm

 

TWENTY-SIXTH AMENDMENT TO EMPLOYMENT AGREEMENT

This Twenty-Sixth Amendment to Employment Agreement is made and entered into as of January 10, 2011, 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-five 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 $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.

 

 

is hereby amended, effective January 1, 2011, to provide as follows:

	
2.1  

	
Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $290,028 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:           CEO and President

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