Equity or Cash Bonus. In addition to his Base Compensation, Executive shall receive an annual bonus equivalent to ​, payable at the discretion of the Company’s Board in its sole discretion either in stock options, shares of the Company’s common stock valued at ​ per share or a price determined by the Company’s Board (the “Equity Bonus”), or in cash. In the event the bonus is paid as an Equity Bonus, Company shall pay or reimburse Executive for all federal, state and or local tax obligations of Executive resulting from the issuance of the Equity Bonus.

Base Compensation,Compensation. Executive shall be paid base compensation of ​ annually, as follows: Executive shall receive an annual bonus equivalent toa cash salary of ​ per year (​ per month) (the “Cash Salary”), plus ​ per year payable at the discretion of the Company’s Board in its sole discretion either in stock options,options for shares of the Company’s common stock valued at ​a $.66 per share price or a price determined by the Company’s Board in its sole discretion (the “Equity Bonus”)Salary”, orand together with the Cash Salary, “Base Compensation”). Options shall not be struck at a exercise price lower than $.66. The Base Salary shall be payable less applicable deductions and withholding in cash. Innormal installments and in accordance with the eventpayroll practices of Company. Shares constituting the bonus is paid as an Equity Bonus,Salary shall be issued to Executive in equal monthly installments on the first day of each month. Company shall pay or reimburse Executivemake applicable tax withholdings for all federal, state and or local tax obligations of Executive resulting from the issuance of the Equity Bonus.Salary from payments of Executive’s Cash Salary. Executive’s Base Compensation shall not be reduced without agreement of Executive.