Executive shall receive a Base Salary at an annual rate of $365,000, payable semi-monthly in equal installments in accordance with the Company’s normal payroll practices. The CEO shall provide Executive with annual performance reviews, and, thereafter, Executive shall be entitled to such increase in Base Salary as the CEO and the Compensation Committee of the Board of Directors (hereinafter the “Compensation Committee”), in consultation with the independent members of the Board of Directors, may from time to time establish in their sole discretion.