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 X.X. Xxxxx ("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 October 1, 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 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.
is hereby amended, effective 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.
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.
X.X. Xxxxx By: /s/ Xxxx May
/s/ X. X. Xxxxx Name: Xxxx May
Its: Chief Operating Officer
