Common use of Base Salary Adjustments Clause in Contracts

Base Salary Adjustments. The annual base salary shall increase or decrease as the number of stores operated by Employer increases or decreases as follows: Hat World Stores Operated Base Pay Increases ------------------------- ------------------ 50 to 99 stores 10.00% to $77,000 Annually 100 to 149 stores 10.00% to $84,700 Annually 150 to 199 stores 15.00% to $97,405 Annually 200 to 249 stores 15.00% to $112,016 Annually Annual increases or decreases shall be effective from the date the total number of stores operated by Employer attains the numbers listed above prorated to reflect any partial months of employment hereunder. The increase would be lost if the total number of stores declines below the thresholds indicated above. For example, if the store number is 50, then a 10.00% increase applies for the remainder of the term unless the store number would drop to 49 or less, then the original Base Salary ($70,000) would apply.

Base Salary Adjustments. The annual base salary shall increase or decrease as the number of stores operated by Employer increases or decreases as follows: Hat World Stores Operated Base Pay Increases ------------------------- ------------------ 50 to 99 stores 10.00% to $77,000 55,000 Annually 100 to 149 stores 10.00% to $84,700 60,500 Annually 150 to 199 stores 15.00% to $97,405 69,575 Annually 200 to 249 stores 15.00% to $112,016 80,012 Annually Annual increases or decreases shall be effective from the date the total number of stores operated by Employer attains the numbers listed above prorated to reflect any partial months of employment hereunder. The increase would be lost if the total number of stores declines below the thresholds indicated above. For example, if the store number is 50, then a 10.00% increase applies for the remainder of the term unless the store number would drop to 49 or less, then the original Base Salary ($70,00050,000) would apply. The table above assumes the Base Salary prior to adjustments for the period beyond June 30, 1999 will be $50,000, for purposes of demonstrating the effect of adjustments.

Base Salary Adjustments. The annual base salary shall increase or decrease as the number of stores operated by Employer increases or decreases as follows: Hat World Stores Operated Base Pay Increases ------------------------- ------------------ 50 to 99 stores 10.00% to $77,000 88,000 Annually 100 to 149 stores 10.00% to $84,700 96,800 Annually 150 to 199 stores 15.00% to $97,405 111,320 Annually 200 to 249 stores 15.00% to $112,016 128,018 Annually Annual increases or decreases shall be effective from the date the total number of stores operated by Employer attains the numbers listed above prorated to reflect any partial months of employment hereunder. The increase would be lost if the total number of stores declines below the thresholds indicated above. For example, if the store number is 50, then a 10.00% increase applies for the remainder of the term unless the store number would drop to 49 or less, then the original Base Salary ($70,00080,000) would apply.

Base Salary Adjustments. The annual base salary shall increase or decrease as the number of stores operated by Employer increases or decreases as follows: Hat World Stores Operated Base Pay Increases ------------------------- ------------------ 50 to 99 stores 10.00% to $77,000 66,000 Annually 100 to 149 stores 10.00% to $84,700 72,600 Annually 150 to 199 stores 15.00% to $97,405 83,490 Annually 200 to 249 stores 15.00% to $112,016 96,014 Annually Annual increases or decreases shall be effective from the date the total number of stores operated by Employer attains the numbers listed above prorated to reflect any partial months of employment hereunder. The increase would be lost if the total number of stores declines below the thresholds indicated above. For example, if the store number is 50, then a 10.00% increase applies for the remainder of the term unless the store number would drop to 49 or less, then the original Base Salary ($70,00060,000) would apply.