PriceSmart sets CEO David Price's compensation: $1.5M salary, $500K cash target, $3M equity target

PRICESMART INC

• Base salary set at $1,500,000; target annual cash incentive $500,000; target annual equity incentive $3,000,000 grant-date value.
• Severance on qualifying termination: 1x base salary paid in 24 installments over 12 months, plus 12 months COBRA, pro-rata bonus, and accelerated vesting of shares vesting in next 12 months.
• Employment agreement automatically renews each year unless either party provides 60 days' notice of non-renewal.
• Company may terminate without cause on 30 days' notice; executive may resign for good reason on 45 days' notice with 30-day cure period.