Common use of 1Base Salary Clause in Contracts

1Base Salary. During the Term, Hut shall pay from its Canadian payroll to the Executive a salary at the rate of US$375,000.00 per annum (the “Base Salary”), less applicable deductions and withholdings, payable in accordance with the Company's regular payroll practices. The Executive's Base Salary may be increased upon annual review by the Board, at the sole discretion of the Board, and once increased shall thereafter be the Base Salary hereunder. The Executive's Base Salary will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period.

1Base Salary. During the Term, Hut shall pay from its Canadian payroll to the Executive a salary at the rate of US$375,000.00 550,000.00 per annum (the “"Base Salary”"), less applicable deductions and withholdings, payable in accordance with the Company's regular payroll practices. The Executive's Base Salary may be increased upon annual review by the Board, at the sole discretion of the Board, and once increased shall thereafter be the Base Salary hereunder. The Executive's Base Salary will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period.

1Base Salary. During the Term, Hut shall pay from its Canadian payroll to the Executive a salary at the rate of US$375,000.00 490,000.00 per annum (the “Base Salary”), less applicable deductions and withholdings, payable in accordance with the Company's ’s regular payroll practices. The Executive's ’s Base Salary may be increased upon annual review by the Board, at the sole discretion of the Board, and once increased shall thereafter be the Base Salary hereunder. The Executive's ’s Base Salary will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period.