Twenty-Second Amendment to Employment Agreement between PriceSmart, Inc. and Jose Luis Laparte

Summary

This amendment extends the employment agreement between PriceSmart, Inc. and Jose Luis Laparte for one additional year, changing the end date from October 7, 2013, to October 7, 2014. All other terms of the original agreement and its previous amendments remain unchanged. The amendment is effective as of October 1, 2013, and is executed by both parties in San Diego, California.

EX-10.1 2 exhibit101q1fy2014.htm TWENTY-SECOND AMENDMENT TO EMPLOYMENT, JOSE LUIS LAPARTE Exhibit 10.1 Q1 FY2014

TWENTY-SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

This Twenty-Second Amendment to Employment Agreement is made and entered into as of October 1, 2013, 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 twenty-one prior occasions;


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

Agreement


1.	Section 3.1 of the Employment Agreement, which currently provides:

3.1 Term. The term of Executive's employment hereunder shall commence on October 8, 2004 and shall continue until October 7, 2013, unless sooner terminated or extended as hereinafter provided (the "Employment Term").

is hereby amended, to provide as follows:

1.Term. The term of Executive's employment hereunder shall commence on October 8, 2004 and shall continue until October 7, 2014, unless sooner terminated or extended as hereinafter provided (the "Employment Term").


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