The Company shall pay the Employee a fixed salary (“Base Salary”) at a rate of Two Hundred Forty Thousand Dollars ($240,000.00) per year. The Board of Directors shall review the Employee’s Base Salary annually with a view to increasing such Base Salary if, in the judgment of the Board of Directors, the earnings of the Company or the services of the Employee merit such an increase. Base Salary will be payable in accordance with the customary payroll practices of the Company.