The Company shall pay the Executive an annual rate of base salary of $600,000.00 in periodic installments in accordance with the Company’s customary payroll practices, but no less frequently than monthly.  The Executive’s base salary shall be reviewed at least annually by the Board and the Board may, but shall not be required to, increase the base salary during the Employment Term.  The Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as “ Base Salary ”.