The Company shall pay Employee, and Employee agrees to accept from the Company as payment for his services to the Company, a base salary at the rate of $725,000 per year (“Base Salary”), payable in equal semi-monthly installments or at such other time or times as Employee and the Company shall agree, provided that in no event will such payment be made later than the 409A Limit as defined in Section 22(a) hereof. Employee’s Base Salary will be reviewed by the Compensation Committee of the Board at least annually beginning in February 2017 for possible increases.