During the Term, Executive shall receive a base salary (as applicable, the “ Base Salary ”) at an annual rate of no less than $1,000,000 from the Effective Date to the first anniversary of the Effective Date and no less than $500,000 from the first anniversary of the Effective Date until the end of the Term. Base Salary shall be paid at such times and in such manner as the Company customarily pays the base salaries of its employees. In the event that Executive’s Base Salary is increased by the Board in its discretion at any time during the Term, such increased amount shall thereafter constitute the Base Salary.