Effective as of January 1, 2016, the Company shall pay the Executive the base (the “ Base Salary ”) at the annualized rate of $345,000, which shall be subject to customary withholdings and authorized deductions and shall be payable in equal installments in accordance with the Company’s customary payroll practices in place from time to time.  The Executive’s Base Salary shall be subject to review on at least an annual basis.  The foregoing annualized rate will be effective for fiscal year 2016 and may be reevaluated by the Company’s Board of Directors for fiscal year 2017.