During the Term, the Bank shall pay Executive an annual rate of base salary of $380,000 (“ Base Salary ”), less normal withholdings, payable in periodic installments in accordance with the Bank’s customary payroll practices and applicable wage payment laws, but no less frequently than monthly. Executive’s Base Salary shall be reviewed at least annually by the Board, and the Board may, but shall not be required to, increase the Base Salary during the Term. Any such adjusted salary shall then become Executive’s Base Salary for purposes of this Agreement. Executive’s Base Salary may not be decreased during the Term.