The Option will be conditioned upon the execution of an option agreement pursuant to the terms of the Plan and shall be governed solely by the option agreement, the Plan and other documents issued in connection with the grant. It is understood and agreed that the Company will have no obligation to grant additional equity to Executive.
3.5 Relocation Charges. For the first 36 months of the Executives continued employment with the Company, AveXis will provide Executive with a monthly allowance of $3,500 gross. This allowance is to offset Executives cost to secure housing and ground transporation while working in the Chicago, IL office. No other reimbursement will be made for these costs. Executive will be eligible to receive Relocation benefits in accordance with the Companys policies upon the Executives relocation to Chicago, on or before August 2018. Executive will be compensated for any tax obligation related to these items.
3.6 Standard Company Benefits. Executive shall, in accordance with Company policy and the terms of the applicable plan documents, be eligible to participate in benefits under any benefit plan or arrangement that may be in effect from time to time and made available to similarly situated Company employees. The Company reserves the right to modify, add or eliminate benefits from time to time. If the Company does not have a benefits plan in place at the time of the Executives start date, the Company will reimburse the Executive for COBRA payments until the Company plan initiates.
3.7 Vacation. Executive shall be eligible to accrue vacation time at the rate of fifteen (15) days per year in accordance with the Companys vacation policy. Vacation is to be taken at such intervals as shall be appropriate and consistent with the proper performance of Executives duties hereunder and as and to the extent permitted under the Companys vacation policy.
3.8 Expense Reimbursements. The Company will reimburse Executive for all reasonable business expenses Executive incurs in conducting his duties hereunder, pursuant to the Companys usual expense reimbursement policies.
4. CONFIDENTIAL INFORMATION AND POST-EMPLOYMENT OBLIGATIONS.
As a condition of employment Executive agrees to execute and abide by the Companys Confidential Information, Inventions Assignment, Non-Competition and Non- Solicitation Agreement (Confidentiality Agreement), which may be amended by the parties from time to time without regard to this Agreement. The Confidentiality Agreement contains provisions that are intended by the parties to survive and do survive termination of this Agreement.
5. TERMINATION OF EMPLOYMENT.
5.1 Termination For Cause or Resignation Without Good Reason. If at any time Executives employment is terminated by the Company for Cause (defined below), or Executive resigns for any reason other than Good Reason (defined below), the