During the Employment Period, you shall receive for your services an annual base salary (the “Base Salary”) in an amount to be determined by the Bank in accordance with the salary administration program of the Bank as it may from time to time be in effect. The Base Salary will be reviewed annually and may be adjusted upward or downward in the sole discretion of the Human Resources and Compensation Committee (the “Compensation Committee”) or the Board of Directors of the Bank. The initial Base Salary will be $225,000. In no event will the Base Salary be less than $225,000 during the Employment Period.