Commencing as of the Effective Date, Officer shall continue to   receive an annual salary of $775,000.00 (the “ Base Salary ”), payable in accordance with the regular payroll practices applicable to senior executives of the Bank generally, but no less frequently than monthly, and less required deductions for state and federal withholding tax, social security and all other employment taxes and payroll deductions.  With respect to Base Salary for the period beginning on October 1, 2017, the Base Salary shall be $813,750. For each fiscal year thereafter, the Committee will review Officer’s Base Salary and make such increases (but not decreases) to Base Salary as determined by the Committee and consistent with Section 4(a) of this Agreement.  Base Salary increases will be retroactive to the first day of the applicable fiscal year.