(a) Base Salary. During the Term, Executive shall be paid an annual base salary that is no less than that provided to Executive by TDCC immediately prior to the Closing (“ Base Salary ”). The Base Salary shall be payable in accordance with Olin’s regular payroll practices as then in effect. During the Term, the Base Salary will be administered and determined by the Compensation Committee of the Board (the “ Compensation Committee ”) in its sole discretion consistent with Olin’s compensation policies applicable to Olin’s other senior executives, but in no event shall Olin pay Executive a Base Salary less than that described above during the Term.