Common use of Decrease in Base Salary Clause in Contracts

Decrease in Base Salary. The Agreement is hereby amended by adding the following sentence to the end of Section 3(a): “Effective as of July 1, 2020, Executive’s base salary is decreased by twenty percent (20%), from four hundred and seventy-five thousand U.S. dollars ($475,000) per annum to three hundred and eighty thousand U.S. dollars ($380,000) per annum. This decrease in base salary shall be effective until and through July 31, 2020.”

Decrease in Base Salary. The Agreement is hereby amended by adding the following sentence to the end of Section 3(a): “Effective as of July 1April 5, 2020, Executive’s base salary is decreased by twenty percent (20%), from four hundred and seventy-five thousand U.S. dollars ($475,000) per annum to three hundred and eighty thousand U.S. dollars ($380,000) per annum. This decrease in base salary shall be effective until and through July 31June 30, 2020.”