The Company or its Hong Kong-based subsidiary, as applicable, will pay Executive an annual base salary (“ Base Salary ”) of Three Hundred and Twenty Thousand Dollars (US$320,000), payable in substantially equal monthly or more frequent installments in accordance with the Company’s or the Hong Kong-based subsidiary’s, as applicable, normal and customary payroll practices.  The Board or the Compensation Committee of the Board (the “ Committee ”) may review and further adjust Executive’s Base Salary from time to time in its sole and absolute discretion, provided that, prior to the first anniversary of the Effective Date, the Company may not decrease Executive’s Base Salary below the amount set forth in this section.  Any such increased Base Salary shall be and become the “Base Salary” for purposes of this Agreement.