During the Term, the Company shall pay Executive a base salary at a rate not less than $550,000.00 (five hundred-fifty thousand dollars) per year, less any and all lawful withholdings or deductions, payable in accordance with the payroll practices of the Company for its executives, and subject to increases from time to time (and in accordance with annual merit reviews) as may be approved by the Board (“ Base Salary ”).
base salary