(d) Financing Bonus. Executive shall be eligible to receive a special bonus in the target total amount of $200,000 (the Financing Bonus), conditioned upon Executives continued employment under this Agreement until and through the successful closing of a Series B financing resulting in more than $35,000,000 in proceeds to the Company, provided that such closing occurs on or before March 31, 2020. Whether such successful closing has occurred will be determined in the Companys reasonable discretion. If such closing occurs, the Company will pay the Financing Bonus to Executive within fifteen (15) business days of such closing. For the avoidance of doubt, if such closing occurs after March 31, 2020, Executive will not be eligible for and will not receive the Financing Bonus, unless the Board in its sole discretion determines otherwise.
(e) Benefits. Executive may participate in such employee and executive benefit plans and programs as the Company may from time to time offer to provide to its executives, subject to the terms and conditions of such plans. Notwithstanding the foregoing, nothing herein is intended, or shall be construed, to require the Company to institute or continue any, or any particular, plan or benefits.
(f) Vacation. Executive shall be entitled to vacation, sick leave, holidays and other paid time-off benefits provided by the Company from time to time which are applicable to the Companys executive officers in accordance with Company vacation policy. The opportunity to take paid time off is contingent upon Executives workload and ability to manage Executives schedule.
(g) Business Expenses. The Company shall reimburse Executive for all reasonable, documented, out-of-pocket travel and other business expenses incurred by Executive in the performance of Executives duties to the Company in accordance with the Companys applicable expense reimbursement policies and procedures as in effect from time to time.
(a) At-Will Employment. The Company and Executive acknowledge that Executives employment is and shall continue to be at-will, as defined under applicable law. This means that it is not for any specified period of time and can be terminated by Executive or by the Company at any time, with or without advance notice, and for any or no particular reason or cause. It also means that Executives job duties, title and responsibility and reporting level, work schedule, compensation and benefits, as well as the Companys personnel policies and procedures, may be changed with prospective effect, with or without notice, at any time in the sole discretion of the Company. This at-will nature of Executives employment shall remain unchanged during Executives tenure as an employee and may not be changed, except in an express writing signed by Executive and a duly authorized member of the Board. If Executives employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement.
(b) Deemed Resignation. Upon termination of Executives employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its affiliates, and, at the Companys request, Executive shall execute such documents as are necessary or desirable to effectuate such resignations.