THIRD AMENDMENT TO EMPLOYMENT AGREEMENT
This Third Amendment to Employment Agreement is made and entered into as of
January 11, 2000, by and between PriceSmart, Inc., a Delaware Corporation
("Employer") and Xxxxxx Xxxxxx ("Executive").
RECITALS
A) On March 31, 1998 an Employment Agreement was made and entered into
by and between Employer and Executive.
B) On March 31, 1999 a First Amendment to Employment Agreement was
made and entered into by and between Employer and Executive.
C) On November 22, 1999, a Second Amendment to Employment Agreement
was made and entered into by and between Employer and Executive.
D) Employer and Executive now desire to amend the Employment
Agreement, as set forth hereinbelow:
AGREEMENT
1) Section 3.1 of the Employment Agreement, which provides:
3.1 TERM. The term of Executive's employment hereunder shall
commence on April 1, 1998 and shall continue until March 31,
2000 unless sooner terminated or extended as hereinafter
provided (the "Employment Term").
is hereby amended, effective as of January 11, 2000, to provide
as follows:
3.1 TERM. The term of Executive's employment hereunder shall
commence on April 1, 1998 and shall continue until March 31,
2001 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
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PriceSmart, INC.
Xxxxxx Xxxxxx By: /s/ Xxxx May
/s/ Xxxxxx Xxxxxx Name: Xxxx May
Its: Chief Operating Officer
