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Company will pay you basic compensation for services at the annual rate of ____________________, payables semimonthly. The annual rate will be subject to review by company each year and maybe increased but not decreased. If you are selected to participate in a company bonus plan (the “incentive plan”), you will be entitled to the awards, if any, that may be payable under the terms of the incentive plan. You may elect to have all or any part of your compensation paid under the terms of any applicable deferred compensation plan.
The Executive shall be paid by the company and annualized base salary, payable in accordance with the regular payroll practices of the company, of [specify annual salary]. During the term of employment, the base salary shall be reviewed no less than annually for increase or decrease in the discretion of the Board; provided, however, that the Board may decrease the base salary only is such decrease as part of an across-the-board reduction of the salaries which occur prior to a change in control and which affects all members of the senior management of the company.
Company agrees to pay executive, and executive agrees to accept from company for his services hereunder, a base salary of [specify an amount in dollars]. Base salary shall be payable in accordance with the company’s regular payroll practices.