During the Employment Period, the Executive’s base salary will be $550,000.00 per annum (the “ Base Salary ”). The Base Salary will be payable semi-monthly in (24) twenty-four equal instalments on the 15th and 30th of the month. If applicable, deductions may be made from this gross amount as is paid in accordance with our regular payroll procedures and subject to deductions from taxes and other withholdings as required by law. 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.