Commencing March 7, 2016 and during the Employment Period, the Company shall pay to the Executive a base salary at the rate of no less than $750,000 per calendar year (the “Base Salary”), less applicable deductions, and prorated for any partial month or year, as applicable. The Base Salary shall be reviewed for increase by the Compensation Committees of AFG and AAC (the “Compensation Committees”) no less frequently than annually and may be increased in the discretion of the Compensation Committees. Any such adjusted Base Salary shall constitute the “Base Salary” for purposes of this Agreement. The Base Salary shall be paid in substantially equal installments in accordance with AAC’s regular payroll procedures. The Executive’s Base Salary may not be decreased during the Employment Period. The Company shall provide the Executive with a payment in an amount equal to the difference between (i) the Base Salary payments the Executive would have received had he been paid at the rate set forth in this Section 4(a) during the period commencing on March 7, 2016 and ending on the Effective Date hereof and (ii) the actual salary payments made to the Executive during such period, payable in a lump sum on a regular payroll date as soon as practicable following the Effective Date.