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Document Preview Independent Contractor Agreement |
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Title: |
Independent Contractor Agreement |
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Date: |
2003 |
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Preview shows 6KB of 19KB total |
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Price: |
$37 |
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ID: |
#1119363 |
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INDEPENDENT CONTRACTOR AGREEMENT
This Independent Contractor Agreement (this Agreement) is effective as of September 1, 2003, by and between PRICESMART, INC., a Delaware corporation (Price), and Allan Youngberg, an individual (Contractor), with respect to the following facts:
Recitals
A. Price has established and operates membership warehouse clubs in the Caribbean, Central America, Mexico and Asia.
B. Contractor has been the Chief Financial Officer of Price from July, 1999 through August, 2003.
C. Price desires to have Contractors assistance in connection with financial matters related to Prices business, and Contractor desires to provide such assistance to Price.
D. The Parties desire to set forth their relationship in accordance with the terms of this Agreement.
Now, therefore, in consideration of the representations set forth above, and in this Agreement, the parties hereto covenant and agree as follows:
Agreement
1. Duties: Price hereby engages Contractor as its nonexclusive independent contractor to assist Price during the term of this Agreement in connection with financial-related matters pertaining to the operation of Prices business (including assisting Prices new Chief Financial Officer in the assumption of his or her duties, assuming that individual is retained by Price prior to the expiration of the term of this Agreement); provided, however, that at no time shall Youngberg make or delete any entries on the books and records of Price.
Youngberg shall perform such duties during the term of this Agreement on a full time basis. Youngberg shall cease such work at the discretion of Price, in which event Youngberg shall nonetheless be entitled to full payment under this Agreement in accordance with Part 4, below, and in which event Youngberg shall be available for consultation (not to exceed ten (10) hours per week, at mutually convenient times) during the remaining period of the term.
2. No Control. Price shall have no right, except to the extent required by law, to direct or limit Contractors activities as to hours, production, prospects, reports, sales, meetings, schedules, time-off, training, education or other similar activities. At Contractors request and at Contractors sole discretion, Price agrees to furnish such advice, information and full cooperation as Contractor shall require.
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3. Standard of Performance. In the accomplishment of the performance of such duties and responsibilities as are assigned to contractor under the terms of this Agreement, Contractor shall at all times conduct him/herself in a professional manner and shall conform to those standards of ethical conduct as are generally expected from those performing such services in the business community. At all times during the term of this Agreement as defined below, the Contractor shall use personal best efforts to fulfill his duties.
4. Compensation. In consideration for the services to be performed by Contractor, Contractor will be paid the total sum of $66,000, payable as follows: $22,000 per month, on September 30, 2003, October 31, 2003 and November 28, 2003.
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