I don't like that he can get another $150k just for raising $20M at any pps... but remember that if he raises cash at a pps lower than $1.62, he's shooting himself in the foot because the majority of his options are priced at $1.62. So, if he does raise $20M by selling shares to get his $150k bonus, he's aligned with shareholders to get the financing done at a higher pps.
I do like the fact that he can also get the $150k via getting the $20M via a partnership of some kind.