For the first twelve (12) months of the Employment Term (" Year 1 "), the Company shall pay the Executive an annual rate of base salary of $550,000, inclusive of Executive's automobile allowance and professional allowances, in periodic installments in accordance with the Company's customary payroll practices and applicable wage payment laws, but no less frequently than monthly.  On October 1, 2018, Executive's annual base salary shall increase to $650,000.  Thereafter, the Executive's base salary shall be reviewed at least annually by the Board in accordance with Company's standard time periods for review.  The Board may, but shall not be required to, increase the base salary during the Employment Term. The Executive's annual base salary, as in effect from time to time, is hereinafter referred to as " Base Salary ".