PRICESMART INC - FORM 10-Q - EX-10.9 - TWENTY-NINTH AMENDMENT TO EMPLOYMENT AGREEMENT - January 9, 2012

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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-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-10.4 - NINETEENTH AMENDMENT TO EMPLOYMENT AGREEMENT - PRICESMART INCex10_4.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
TWENTY-NINTH AMENDMENT TO EMPLOYMENT AGREEMENT



This Twenty-Ninth Amendment to Employment Agreement is made and entered into as of November 18, 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-eight 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 $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.
 
 
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 $343,000 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.

Robert M. Gans                                                                           By:           

______________________                                                             Name:       Jose Luis Laparte                                

Its:           CEO and President                                

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