The Company shall pay the Executive an annual rate of base salary of $150,000 in periodic installments in accordance with the Company’s customary payroll practices and applicable wage payment laws, but no less frequently than monthly, except that, (i) the Executive’s Base Salary will increase from $150,000 to $250,000, effective upon the Company’s achievement of $100,000 in gross monthly revenue for three consecutive months, (ii) the Executive’s Base Salary will increase to $350,000 upon the Company achieving $2,500,000 in gross revenue in any one year period commencing on the Effective Date, and (iii) effective upon the Company’s receipt of an aggregate of $10,000,000 in cumulative gross revenue during the Initial Term and any Renewal Term, the Base Salary will increase to $500,000 . Executive’s Base Salary may not be decreased during the Initial term or any Renewal Term. The Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as “ Base Salary ”.