The Executive shall receive an annual base salary (“ Annual Base Salary ”) of no less than $700,000. The Executive’s Annual Base Salary shall be reviewed annually by the Compensation Committee of the Board (the “ Compensation Committee ”) pursuant to its normal performance review policies for senior executives and may be increased but not decreased. The term “Annual Base Salary” as utilized in this Agreement shall refer to Annual Base Salary as in effect from time to time. Such Annual Base Salary shall be payable in monthly or more frequent installments in accordance with the Company’s payroll policies.