Common use of Initial Salary Clause in Contracts

Initial Salary. In full payment for the obligations to be performed by the Executive during the term of this Agreement, the Company shall pay to the Executive a salary (subject to applicable payroll and/or other taxes required by law to be withheld) as follows: (a) for the period from the date of this Agreement through December 31, 2004, the amount of One Hundred Twenty-Five Thousand Dollars ($125,000.00); (b) for the period from January 1, 2005 through December 31, 2005, One Hundred Fifty Thousand Dollars ($150,000.00); and (c) for the period from January 1, 2006 through December 31, 2006, One Hundred Seventy-Five Thousand Dollars ($175,000.00).

Initial Salary. In full payment for the obligations to be performed by the Executive during the term of this Agreement, the Company shall pay to the Executive a salary (subject to applicable payroll and/or other taxes required by law to be withheld) as follows: (a) for the period from the date of this Agreement through December 31, 20042005, the amount of One Hundred Twenty-Five Ninety Six Thousand Dollars ($125,000.00Dollars($96,000.00); (b) for the period from January 1, 2005 through December 31, 2005, One Hundred Fifty Thousand Dollars ($150,000.00); and (c) for the period from January 1, 2006 through December 31, 2006, One Hundred Eight Thousand Dollars ($108,000.00); and (c) for the period from January 1, 2007 through December 31, 2007, One Hundred Seventy-Five Thousand Dollars ($175,000.00120,000.00).

Initial Salary. In full payment for the obligations to be performed by the Executive during the term of this Agreement, the Company shall pay to the Executive a salary (subject to applicable payroll and/or other taxes required by law to be withheld) as follows: (a) for the period from the date of this Agreement through December 31, 20042005, the amount of One Hundred Twenty-Five Ninety Six Thousand Dollars ($125,000.00Dollars($96,000.00); (b) for the period from January 1, 2005 through December 31, 2005, One Hundred Fifty Thousand Dollars ($150,000.00); and (c) for the period from January 1, 2006 through December 31, 2006, One Hundred Seventy-Five Eight Thousand Dollars ($175,000.00108,000.00); and (c) for the period from January 1, 2007 through December 31, 2007, One Hundred Twenty Thousand Dollars ($120,000.00).