TWENTIETH AMENDMENT TO EMPLOYMENT AGREEMENT
Exhibit
10.8
TWENTIETH
AMENDMENT TO EMPLOYMENT AGREEMENT
This
Twentieth Amendment to Employment Agreement is made and entered into as of
October 1, 2008, by and between PriceSmart, Inc., a Delaware Corporation
(“Employer”) and ▇▇▇▇▇▇ ▇. ▇▇▇▇ (“Executive”).
Recitals
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A)
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On
September 20, 1994 an Employment Agreement was made and entered into by
and between Executive and Price Enterprises,
Inc.
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B)
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Said
Employment Agreement has been assigned to Employer and amended on nineteen
prior occasions;
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C)
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Employer
and Executive now desire to further amend the Employment Agreement, as set
forth hereinbelow:
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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 17, 1994 and
shall continue until October 16, 2008 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 17, 1994 and
shall continue until October 16, 2009 unless sooner terminated or extended as
hereinafter provided (the "Employment Term").
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2.
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All
other terms of the Employment Agreement, as amended, shall remain
unaltered and fully effective.
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Executed
in San Diego, California, as of the date first written above.
EXECUTIVE EMPLOYER
PRICESMART, INC.
▇▇▇▇▇▇ ▇.
▇▇▇▇ By:
______________________ Name: ▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇
Its: President