Executive shall receive a base salary (as applicable, the “ Base Salary ”) at an annual rate of no less than $1,050,000. Executive’s Base Salary shall be reviewed by the Company in 2017 and at least annually thereafter for increase. Base Salary shall be paid at such times and in such manner as the Company customarily pays the base salaries of its employees. In the event that Executive’s Base Salary is increased by the Board in its discretion at any time during the Term, such increased amount shall thereafter constitute the Base Salary.