During the Employment Period, the Executive’s base salary will be $450,000 per annum (the “ Base Salary ”). The Base Salary will be payable monthly on the last working day of each month in arrears in twelve (12) equal installments. Annually during the Employment Period, the Company shall review with the Executive his job performance and compensation and, if deemed appropriate by the Board of Directors of the Company or its delegate, in its discretion, the Executive’s Base Salary may be increased.