Common use of Executive’s Compensation Clause in Contracts

Executive’s Compensation. 3.01 During the Term of this Agreement and subject to the terms of this section and of Article 5, Corporation will pay the following amounts to Executive: [1] Beginning on the Effective Date, $700,000 for each full calendar year of employment ("Base Salary"), prorated to reflect partial calendar months and years of employment and paid in installments that correspond with the Corporation's normal payroll practices. Base Salary will not be reduced during the Term of this Agreement without Executive's consent and may be increased during the Term of this Agreement at the discretion of the Board's Executive Compensation Committee.

Executive’s Compensation. 3.01 During the Term of this Agreement and subject to the terms of this section and of Article 5, Corporation will pay the following amounts to Executive: [1] Beginning on the Effective Date, $700,000 350,000 for each full calendar year of employment ("Base Salary"), prorated to reflect partial calendar months and years of employment and paid in installments that correspond with the Corporation's normal payroll practices. Base Salary will not be reduced during the Term of this Agreement without Executive's consent and may be increased during the Term of this Agreement at the discretion upon recommendation of the Board's CEO to the Executive Compensation CommitteeCommittee of the Company's Board of Directors ("Board").