The Company will pay Executive a base salary (“Base Salary”) at the annual rate of $1,000,000 per year. The Compensation Committee of the Board (the “Committee”) may adjust Executive’s Base Salary from time to time, provided that the Base Salary (as previously increased, if applicable) may not be reduced without Executive’s consent. The Base Salary will be payable in accordance with the payroll practices of the Company in effect from time to time, but not less frequently than monthly.