Common use of Base Salary and Incentive Compensation Clause in Contracts

Base Salary and Incentive Compensation. Effective as of August 16, 2002, Executive's initial annual base salary shall be $155,000 while employed by the Company in the United States. At the completion of the expatriate assignment and return to MPL, Executive's base salary shall be determined by the Chief Executive Officer and approved by the Board of Directors based on competitive salary conditions at that time in Australia. Executive's base salary shall be redetermined annually by the Chief Executive Officer, the Board or a Committee thereof. The annual base salary in effect at any given time is referred to herein as "Base Salary." The Base Salary shall be payable in a manner consistent with the general payroll policy of the Company or MPL, as the case may be. In addition to Base Salary, Executive shall be eligible to participate in such incentive compensation plans and Employee Benefit Plans as the Board or a Committee thereof shall determine from time to time for senior executives of the Company. As used herein, the term "Employee Benefit Plans" includes, without limitation, each pension and retirement plan; supplemental pension, retirement and deferred compensation plan; savings and profit-sharing plan; stock ownership plan; stock purchase plan; stock option plan; life insurance plan; medical insurance plan; disability plan; and health and accident plan or arrangement established and maintained by the Company or MPL and applicable to employees resident in the country of residence of the Executive. Nothing in this Agreement shall serve to modify or diminish any accumulated benefits to which Executive shall otherwise be entitled.

Base Salary and Incentive Compensation. Effective as of August 16, 2002, Executive's initial annual base salary shall be $155,000 while employed by the Company 175,000, which amount reflects expected variation in the United States. At the completion expatriate housing and cost of the expatriate assignment and return to MPL, Executive's base salary shall be determined by the Chief Executive Officer and approved by the Board of Directors based on competitive salary conditions at that time in Australialiving costs. Executive's base salary shall be redetermined annually by the Chief Executive Officer, the Board or a Committee thereof. The annual base salary in effect at any given time is referred to herein as "Base Salary." The Base Salary shall be payable in a manner consistent with the general payroll policy of the Company or MPL, as the case may beCompany. In addition to Base Salary, Executive shall be eligible to participate in such incentive compensation plans and Employee Benefit Plans as the Board or a Committee thereof shall determine from time to time for senior executives of the Company. As used herein, the term "Employee Benefit Plans" includes, without limitation, each pension and retirement plan; supplemental pension, retirement and deferred compensation plan; savings and profit-sharing plan; stock ownership plan; stock purchase plan; stock option plan; life insurance plan; medical insurance plan; disability plan; and health and accident plan or arrangement established and maintained by the Company or MPL and applicable to employees resident in the country of residence of the ExecutiveCompany. Nothing in this Agreement shall serve to modify or diminish any accumulated benefits to which Executive shall otherwise be entitled."

Base Salary and Incentive Compensation. Effective as of August 16, 2002, Executive's initial annual base salary shall be $155,000 while employed by the Company in the United States. At the completion of the expatriate assignment and return to MPL180,000 Australian dollars, Executive's base which salary shall be determined by the Chief Executive Officer and approved by the Board of Directors based effective on competitive salary conditions at that time in AustraliaAugust 16, 2002. Executive's base salary shall be redetermined reviewed annually by the Chief Executive Officer, the Board or a Committee thereof. The annual base salary in effect at any given time is referred to herein as "Base Salary." The Base Salary shall be payable in a manner consistent with the general payroll policy of the Company or MPL, as the case may be. In addition to Base Salary, Executive shall be eligible to participate in such incentive compensation plans and Employee Benefit Plans as the Board or a Committee thereof shall determine from time to time for senior executives executives. For the avoidance of doubt, MPL may determine in its discretion that Executive will not be eligible to participate on the Companygrounds that participation would breach either relevant US securities laws or the Australian Corporations Act (the "Corporations Act") or that the cost of compliance with such laws is too prohibitive to allow for participation. As used herein, the term "Employee Benefit Plans" includes, without limitation, each pension and retirement plan; supplemental pension, retirement and deferred compensation plan; savings and profit-sharing plan; stock ownership plan; stock purchase plan; stock option plan; life insurance plan; medical insurance plan; disability plan; and health and accident plan or arrangement established and maintained by the Company or MPL and applicable to employees resident in the country of residence of the ExecutiveAustralia. Nothing in this Agreement shall serve to modify or diminish any accumulated benefits to which Executive shall otherwise be entitled.