PRICESMART INC - FORM 10-Q - EX-10.4 - NINETEENTH AMENDMENT TO EMPLOYMENT AGREEMENT - January 9, 2012

Attached files

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EXCEL - IDEA: XBRL DOCUMENT - PRICESMART INCFinancial_Report.xls
EX-10.8 - TWENTY-EIGHTH AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_8.htm
EX-10.9 - TWENTY-NINTH AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_9.htm
EX-31.1 - CERTIFICATION PURSUANT TO SECTION 302, CEO - PRICESMART INCex31_1.htm
EX-10.1 - SECOND AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_1.htm
EX-32.2 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350 CFO - PRICESMART INCex32_2.htm
EX-10.2 - THIRTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_2.htm
EX-31.2 - CERTIFICATION PURSUANT TO SECTION 302, CFO - PRICESMART INCex31_2.htm
EX-10.3 - EIGHTEENTH AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_3.htm
EX-32.1 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, CEO - PRICESMART INCex32_1.htm
EX-10.7 - TWENTY-THIRD AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_7.htm
EX-10.6 - TWENTY-FIRST AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_6.htm
10-Q - FIRST QUARTER 10-Q FY12 - PRICESMART INCform10q.htm
EX-10.5 - TWENTIETH AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_5.htm
NINETEENTH  AMENDMENT TO EMPLOYMENT AGREEMENT

This Nineteenth Amendment to Employment Agreement is made and entered into as of November 18, 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 eighteen prior occasions;

C)  
Employer and Executive now desire to amend the Employment Agreement, as set forth hereinbelow:

Agreement

1.  
Section 2.1 of the Employment Agreement, which currently provides:

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.
 
 
is hereby amended, effective January 1, 2012 to provide as follows:

2.1           Salary.  For Executive's services hereunder, Employer shall pay as base salary to Executive the amount of $561,000 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 President  

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