During the Employment Term, the Employer shall pay Executive a base salary at the annual rate of $200,000, payable in regular installments in accordance with the Employer’s normal payroll practices. Executive’s base salary shall be reviewed annually by the Chief Executive Officer and Executive shall be entitled to such increases in Executive’s base salary, if any, as may be determined from time to time in the sole discretion of the Chief Executive Officer. Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as the “ Base Salary ”.