Salary. Xxxxxx Xxxxx’ base salary will be EUR 11,875 per month (EUR 142,500 on an annualized basis), less applicable withholdings and deductions, paid on Na Pali SAS’ regular payroll dates. Xxxxxx Xxxxx’ base salary will be reviewed at the time management remunerations are reviewed periodically and may be adjusted (but not below EUR 11,875 per month) at the Shareholder’s discretion in light of Na Pali SAS’ performance, Xxxxxx Xxxxx’ performance in his capacity of Président of Na Pali SAS, market conditions and other factors deemed relevant by the Quiksilver, Inc. Board of Directors or the Compensation Committee of the Board of Directors (“Compensation Committee”).
