Salary. During the Employment Term, [[Organization A:Organization]] shall pay you a base salary at the annual rate of Three Million Five Hundred Thousand Dollars ($3,500,000) per annum. The Compensation Committee of the Board (the “Compensation Committee”) will review your salary at least annually and may increase (but not decrease, including from a level to which it was increased following the Start Date) the base salary. The result of any such annual review shall be reported to you by the Compensation Committee promptly after it occurs. The amount of annual base salary actually paid to you will be reduced to the extent you elect to defer such salary under the terms of any deferred compensation or savings plan or arrangement maintained or established by [[Organization A:Organization]]. Your annual base salary payable hereunder, without reduction for any amounts deferred as described in the preceding sentence, is referred to herein as the “Salary.” [[Organization A:Organization]] shall pay the portion of the Salary not deferred at your election in accordance with its generally applicable payroll practices for senior executives of [[Organization A:Organization]], but not less frequently than in equal monthly installments.

Salary. The Company shall pay you base salary (as may be increased, “Salary”) at a rate of One Million Four Hundred Thousand Dollars ($1,400,000) per year for all of your services as an employee. Your Salary shall be subject to merit reviews, on or about an annual basis, while you are actively employed during the Contract Period and may at that time, be increased but not decreased. Your Salary, less deductions and income and payroll tax withholding as may be required under applicable law, shall be payable in accordance with the Company’s ordinary payroll policy, but no less frequently than monthly.

Salary. During the Employment Period, Executive shall be paid a base salary at the rate of $90,000 per year, payable bi-weekly at such times as salaries are paid to other executive officers of the Employer. The Board of Directors of Penns Woods or JSSB shall review Executive’s base salary annually and may, from time to time, in its discretion increase Executive’s base salary. Any and all such increases in base salary shall be deemed to constitute amendments to this subsection to reflect the increased amounts, effective as of the dates established for such increases by appropriate corporate action.

Salary. Loggenberg will be paid a base salary of THREE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($350,000.00) per year, payable in installments according to the [[Organization B:Organization]]'s regular payroll schedule. The base salary shall be adjusted in January following each year of employment at the discretion of the board of directors, with minimum salary increase on an annual basis determined by the same formula and factors the [[Organization B:Organization]] and [[Organization A:Organization]] use for other upper management positions.

Salary. For services rendered hereunder, the Company shall pay Employee a base salary at the per annum rate of $325,000 less standard payroll deductions and withholdings, and payable in accordance with the Company’s regular payroll schedule. Employee’s base salary (as well as his eligibility for incentive equity grants) shall be subject to annual review and his base salary may, at the discretion of the Company’s Board of Directors, be increased from time to time.

Salary. The Company will pay you a salary at the rate of $325,000 per year, payable in accordance with the Company’s standard payroll schedule, prorated in accordance with time spent working and subject to applicable deductions and withholdings. This salary will be subject to periodic review and adjustments at the Company’s discretion.

Salary. For all the services rendered by you in any capacity under this Agreement, [[Organization A:Organization]] agrees to pay you base salary (“Salary”) at the rate of One Million Two Hundred Fifty Thousand Dollars ($1,250,000) per annum, less applicable deductions and withholding taxes, in accordance with [[Organization A:Organization]]’s payroll practices as they may exist from time to time. During the term of this Agreement, your salary may be increased, and such increase, if any, shall be made at a time, and in an amount, that [[Organization A:Organization]] shall determine in its sole discretion.

Salary. For services to be rendered hereunder, Executive shall continue to receive a base salary at the rate of [Number] ($ ) per year (the “Base Salary”),

Reduction Period. Your base monthly salary and Travel and Housing Accommodation Allowance will be reduced by the Salary Reduction Percentage (as defined below) and the Housing Allowance Percentage (as defined below), respectively, for the calendar months April, May and June, 2020 (“Compensation Reduction Program Period”).

Maximum Reduction. The maximum aggregate reduction with respect to any Licensed Product in any country during any Calendar Quarter pursuant to [Section 7.4.4] shall be capped at ​ of the amount of the royalty that would be payable in respect of Net Sales in such country under [Section 7.4.3], prior to any such reductions, and any unused portions of the reduction shall be carried-forward in future Calendar Quarters.