Employees who are paid a set annual wage regardless of the number of hours worked or the amount of work completed are paid on a(n) basis

Employees who are paid a set annual wage regardless of the number of hours worked or the amount of work completed are paid on a SALARY basis. Salary system of compensation is often based on qualifications, seniority, experience and the degree of difficulty of the job that the staff is executing.

simpleton is the answer, this is simpleton work

you can put this in your 11 sentence summary

" most of the money would be invested in innovation, economic convergence."