PRICESMART INC - FORM 10-Q - EX-10.2 - TWELFTH AMENDMENT TO EMPLOYMENT AGREEMENT BETWEEN COMPANY AND JOSE LUIS LAPARTE - January 8, 2010

Attached files

file filename
EX-31.1 - CERTIFICATION PURSUANT TO SECTION 302, CEO - PRICESMART INCex31_1.htm
EX-10.1 - TWENTY THIRD AMENDMENT TO EMPLOYMENT AGREEMENT BETWEENT THE COMPANY AND ROBERT M. GANS - PRICESMART INCex10_1.htm
EX-31.2 - CERTIFICATION PURSUANT TO SECTION 302, CFO - PRICESMART INCex31_2.htm
EX-32.1 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, CEO - PRICESMART INCex32_1.htm
EX-10.4 - LINE OF CREDIT AGREEMENT BETWEEN PRICESMART AND BACBAMER - PRICESMART INCex10_4.htm
EX-32.2 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, CFO - PRICESMART INCex32_2.htm
EX-10.3 - LOAN AGREEMENT BETWEEN PRICESMART AND SCOTIABANK EL SALVADOR - PRICESMART INCex10_3.htm
10-Q - 1ST QUARTER 10-Q FY10 - PRICESMART INCform10q.htm

TWELFTH AMENDMENT TO EMPLOYMENT AGREEMENT


This Twelfth Amendment to Employment Agreement is made and entered into as of October 1, 2009, 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 eleven prior occasions;

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

Agreement

1.  
Section 3.1 of the Agreement which provides:

3.1           Term.  The term of Executive's employment hereunder shall commence on October 8, 2004 and shall continue until October 7, 2009, unless sooner terminated or extended as hereinafter provided (the "Employment Term").
 
 
is hereby amended, to provide as follows:

3.1 Term.  The term of Executive's employment hereunder shall commence on October 8, 2004 and shall continue until October 7, 2010, 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 E. Price 
        Its:           Chief Executive Officer  

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