Executive’s base salary in effect as of the Effective Date shall remain in effect from the Effective Date through December 31, 2016. Beginning on January 1, 2017, and for the remainder of the Term, the Company will pay to the Executive base salary at the rate of U.S. seven hundred thousand dollars ($700,000) per year (“ Base Salary ”), less normal withholdings, payable in approximately equal bi-weekly or other installments as are or become customary under the Company’s payroll practices for its employees from time to time. The Compensation Committee of the Board (the “ Compensation Committee ”) shall review the Executive’s Base Salary annually and may increase the Executive’s Base Salary from year to year. Such adjusted salary then shall become the Executive’s Base Salary for purposes of this Agreement. The annual review of the Executive’s salary by the Compensation Committee will consider, among other things, the Executive’s own performance and the Company’s performance.