Document ID: 11360

Text:
3.1 Salary. For purposes of this Agreement, a Contract Year shall mean each calendar year during the Term. The Company shall pay Executive a base salary at the rate of $725,000 per annum (the Initial Annual Salary), in accordance with the customary payroll practices of the Company applicable to senior executives, but not less frequently than monthly. The Compensation Committee of the Board (the Compensation Committee) shall review Executives base salary each Contract Year and may increase such amount as it may deem advisable (such salary, as the same may be increased, the Annual Salary). The Annual Salary shall be prorated (on the basis of a 365-day year) for any partial Contract Year.

Named Entities:
35
38
Salary

Tokenized Text:
3
.
1
Salary
.
For
purposes
of
this
Agreement
,
a
Contract
Year
shall
mean
each
calendar
year
during
the
Term
.
The
Company
shall
pay
Executive
a
base
salary
at
the
rate
of
$
725
,
000
per
annum
(
the
Initial
Annual
Salary
)
,
in
accordance
with
the
customary
payroll
practices
of
the
Company
applicable
to
senior
executives
,
but
not
less
frequently
than
monthly
.
The
Compensation
Committee
of
the
Board
(
the
Compensation
Committee
)
shall
review
Executives
base
salary
each
Contract
Year
and
may
increase
such
amount
as
it
may
deem
advisable
(
such
salary
,
as
the
same
may
be
increased
,
the
Annual
Salary
)
.
The
Annual
Salary
shall
be
prorated
(
on
the
basis
of
a
365-day
year
)
for
any
partial
Contract
Year
.