SEC Contract Filing

Filing Date: 2018-10-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.44
<SEQUENCE>2
<FILENAME>psmt-20180831xex10_44.htm
<DESCRIPTION>EX-10.44
<TEXT>
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 Exhibit 1044
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 <font style="display: inline;font-weight:bold;font-size:12pt;">Exhibit 10.44</font>

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 <font style="display: inline;">EMPLOYMENT AGREEMENT</font>
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 <font style="display: inline;">This Employment Agreement (&#x201C;</font><font style="display: inline;text-decoration:underline;">Agreement</font><font style="display: inline;">&#x201D;) is made as of August 1, 2018 (the &#x201C;</font><font style="display: inline;text-decoration:underline;">Effective Date</font><font style="display: inline;">&#x201D;), between PriceSmart, Inc. (the &#x201C;</font><font style="display: inline;text-decoration:underline;">Company</font><font style="display: inline;">&#x201D;), and Ana Luisa Bianchi (the &#x201C;</font><font style="display: inline;text-decoration:underline;">Executive</font><font style="display: inline;">&#x201D;).</font>
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 <font style="display: inline;">WHEREAS, the Company desires to retain and employ the Executive and the Executive desires to be retained and employed by the Company on the terms contained in this Agreement.</font>
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 <font style="display: inline;">NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:</font>
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 <font style="display: inline;color:#000000;">1.&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;text-decoration:underline;color:#000000;">Position; Duties; Relocation</font><font style="display: inline;color:#000000;">.</font>
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 <font style="display: inline;color:#000000;">(a)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;color:#000000;">The Executive shall serve as the Company&#x2019;s Executive Vice President &#x2013;Chief Merchandising Officer, reporting to the Company&#x2019;s Chief Operating Officer.</font>
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 <font style="display: inline;color:#000000;">(b)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;color:#000000;">The Executive shall perform those services customary to this office and such other lawful duties that Chief Operating Officer may reasonably assign to her.&nbsp;&nbsp;The Executive shall devote all of her business time and best efforts to the performance of her duties under this Agreement and shall be subject to, and shall comply with the Company policies, practices and procedures and all codes of ethics or business conduct applicable to her position, as in effect from time to time.&nbsp;&nbsp;Notwithstanding the foregoing, the Executive shall be entitled to (i) serve as a member of the board of directors of a reasonable number of other companies, subject to the advance approval of the Chief Operating Officer, which approval shall not be unreasonably withheld, (ii) serve on civic, charitable, educational, religious, public interest or public service boards, subject to the advance approval of the Chief Operating Officer, which approval shall not be unreasonably withheld, and (iii) manage the Executive&#x2019;s personal and family investments, in each case, to the extent such activities do not materially interfere, as determined by the Chief Operating Officer in good faith, with the performance of the Executive&#x2019;s duties and responsibilities hereunder.</font>
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 <font style="display: inline;color:#000000;">(c)&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display: inline;background-color: #FFFFFF;color:#000000;">Initially, the Executive shall be permitted to perform her duties in Columbia; provided, however, Executive and the Company agree that Executive shall in the future relocate to Florida and perform