As compensation for his services hereunder and in consideration of the Executive’s other agreements hereunder, during the Employment Period, the Company shall pay the Executive an annual base salary (the “Base Salary”), payable in equal installments in accordance with the applicable payroll practices, at an initial rate of $700,000 for the first year of this Agreement, subject to annual review by the Company Board for increases but not decreases; provided , however , such Base Salary may be reduced in connection with a broad-based reduction for senior executives of the Company.