Common use of 1Base Salary Clause in Contracts

1Base Salary. During the term of this Agreement, Executive shall receive a minimum, annualized base salary of $240,000.00 (the “Base Salary”). Executive’s annualized base salary shall be reviewed at least annually by the Company after it goes public (it is not anticipated that there would be increases prior to that time) and, in the sole discretion of the Company, such annualized base salary may be increased (but not decreased) effective as of any date determined by the Company; provided, however, the Company may decrease Executive’s Base Salary at any time and from time to time so long as such decreases do not exceed, in the aggregate, more than 10% of Executive’s Base Salary as in effect on the Effective Date and such decreases are part of similar reductions applicable to all of the Company’s executive officers. Executive’s Base Salary shall be paid in substantially equal installments in accordance with the Company’s standard policy regarding payment of compensation to executives but no less frequently than monthly.

1Base Salary. During the term of this Agreement, Executive shall receive a minimum, annualized base salary of $240,000.00 275,000 (the “Base Salary”). Executive’s annualized base salary shall be reviewed at least annually by the Company after it goes public (it is not anticipated that there would be increases prior to that time) and, in the sole discretion of the Company, such annualized base salary may be increased (but not decreased) effective as of any date determined by the Company; provided, however, the Company may decrease Executive’s Base Salary at any time and from time to time so long as such decreases do not exceed, in the aggregate, more than 10% of Executive’s Base Salary as in effect on the Effective Date and such decreases are part of similar reductions applicable to all of the Company’s executive officers. Executive’s Base Salary shall be paid in substantially equal installments in accordance with the Company’s standard policy regarding payment of compensation to executives but no less frequently than monthly.