During the Employment Term, the Company shall pay the Executive a base salary at the annual rate of $440,000, payable in regular installments in accordance with the Company’s normal payroll practices. The Executive shall be entitled to such increases in the Executive’s base salary, if any, as may be determined from time to time in the sole discretion of the board of directors of the Company (the “ Board ”) (or a committee of the Board), which shall review the Executive’s base salary on a basis no less frequent than annually. The Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as the “ Base Salary .” The Base Salary may be reduced, subject to the limitations of the Good Reason definition provided for in Section 7(c)(ii)(A) of this Agreement.