During the Term, the Bank shall pay the Executive an annual base salary of not less than $281,800.00 (less applicable withholdings), as compensation for services rendered by the Executive under this Agreement. The base salary shall be paid to the Executive in accordance with established payroll practices of the Bank (but no less frequently than twice per month). The Executive may receive base salary increases and incentive, bonus compensation or other compensation in the amounts determined by the Board of Directors of the Bank.