Common use of Salary; Bonus Clause in Contracts

Salary; Bonus. (a) Executive will receive a salary during the Term of Seventy Five Thousand and no/100 dollars ($75,000.00) per year (“Base Compensation”), pro-rated for partial years, payable at regular intervals in accordance with the Company’s normal payroll practices in effect from time to time. Executive’s Base Compensation will be reviewed annually by the Company’s Board of Directors and Executive will be eligible for consideration for merit-based increases to Base Compensation and bonuses as determined by the Board of Directors in its sole discretion. In addition to eligibility for consideration of merit-based increases in the discretion of the Board of Directors, Executive’s Base Compensation will be increased effective January 1 of each year during the Term (commencing with January 1, 2017) by three percent (3%) to reflect anticipated increases in cost of living. (b) The Executive will be entitled to performance based cash and equity based bonuses as determined by the Board of Directors of Buyer from time to time.

Salary; Bonus. (a) Executive will receive a salary during the Term of Seventy Five Sixty Thousand and no/100 dollars ($75,000.0060,000) per year (“Base Compensation”), pro-rated for partial years, payable at regular intervals in accordance with the Company’s normal payroll practices in effect from time to time. Executive’s Base Compensation will be reviewed annually by the Company’s Board of Directors and Executive will be eligible for consideration for merit-based increases to Base Compensation and bonuses as determined by the Board of Directors in its sole discretion. In addition to eligibility for consideration of merit-based increases in the discretion of the Board of Directors, Executive’s Base Compensation will be increased effective January 1 of each year during the Term (commencing with January 1, 2017) by three percent (3%) to reflect anticipated increases in cost of living. (b) The Executive will be entitled to performance based cash and equity based bonuses as determined by the Board of Directors of Buyer from time to time.