The Parent agrees to pay the Executive a base salary (“ Base Salary ”) of $400,000 per annum for the position(s) of Chief Operating Officer and Chief Translational Medicine Officer . Annual adjustments after the first year of the Employment Period shall be determined by the Board. The Base Salary shall be paid in periodic installments in accordance with the Parent’s regular payroll practices. Executive shall, subject to policies and procedures of the Parent’s Board of Directors, be eligible to additional fees for service on the Parent’s Board.