During the Employment Period, the Executive shall receive a base salary equal to $400,000 per annum (the “ Base Salary ”).  The Base Salary shall be reviewed annually by the Compensation Committee of the Board (the “ Compensation Committee ”) and may be increased from time to time by the Compensation Committee in its sole discretion.  The Base Salary shall be paid in installments in accordance with the Company’s applicable payroll practices, as in effect from time to time, but no less often than monthly.  The Base Salary shall not be reduced after any increase in accordance herewith and the term “Base Salary” as utilized in this Agreement shall refer to Base Salary as so increased.