Common use of Monthly Base Salary Clause in Contracts

Monthly Base Salary. The Company shall pay or caused to be paid ------------------- to the Executive a monthly base salary of twenty thousand Canadian dollars (CDN $20,000) (the "Monthly Salary"). The Monthly Salary shall be payable in periodic installments as agreed from time-to-time by the Executive and the Board, but at least semi-monthly, and shall be subject to any Tax Withholdings and/or Employee Deductions that are applicable. In any pay period in which the Executive shall be employed for less than the entire number of business days in such pay period, the Monthly Salary for such pay period shall be prorated on the basis of the number of business days during which the Executive was actually employed during such pay period, divided by the actual number of business days in such pay period. Commencing on the first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the Monthly Salary then effective shall be increased by an amount equal to five percent (5%) of the Monthly Salary for the immediately prior year. Additionally, commencing on or prior to the first annual anniversary date of this Agreement, and on or prior to each annual anniversary date thereafter, the Board shall review the Executive's Monthly Salary to determine whether to increase the Monthly Salary by an amount in excess of said five percent (5%) increment, without any obligation by the Board to authorize such increase.

Monthly Base Salary. The Company shall pay or caused to be ------------------- paid ------------------- to the Executive a monthly base salary of twenty thousand Canadian dollars (CDN $20,000) (the "Monthly Salary"). The Monthly Salary shall be payable in periodic installments as agreed from time-to-time by the Executive and the Board, but at least semi-monthly, and shall be subject to any Tax Withholdings and/or Employee Deductions that are applicable. In any pay period in which the Executive shall be employed for less than the entire number of business days in such pay period, the Monthly Salary for such pay period shall be prorated on the basis of the number of business days during which the Executive was actually employed during such pay period, divided by the actual number of business days in such pay period. Commencing on the first annual anniversary date of this Agreement, and on each annual anniversary date thereafter, the Monthly Salary then effective shall be increased by an amount equal to five percent (5%) of the Monthly Salary for the immediately prior year. Additionally, commencing on or prior to the first annual anniversary date of this Agreement, and on or prior to each annual anniversary date thereafter, the Board shall review the Executive's Monthly Salary to determine whether to increase the Monthly Salary by an amount in excess of said five percent (5%) increment, without any obligation by the Board to authorize such increase.