As compensation for services rendered to the Company during the term of Executive’s employment hereunder, the Company shall initially pay Executive a base salary at the annual rate of $270,000. Executive shall be entitled to such increases in 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 ”). Executive’s annual base salary, as in effect from time to time, is hereinafter referred to as the “ Base Salary .” The Base Salary shall be payable in accordance with the Company’s standard payroll schedule and procedures including applicable withholdings or deductions. The Base Salary will be subject to adjustment pursuant to the Company’s executive compensation policies in effect from time to time or as otherwise determined by the Board.