PAYMENT UPON TERMINATION BY EXECUTIVE FOR CAUSE Sample Clauses

PAYMENT UPON TERMINATION BY EXECUTIVE FOR CAUSE. If this Agreement is terminated by the Executive for cause pursuant to Subsection 9(c), the Executive shall be entitled to his base salary as provided for in this Agreement for the remaining Contract Term plus an amount equal to three (3) times his cash bonus(es) for the last previous full calendar year. Notwithstanding the foregoing, if the Executive is a "specified employee" within the meaning of Internal Revenue Code Section 409A, then such payments shall be delayed for six (6) months from the date of termination of this Agreement. In such event, all past due payments shall be paid in a lump sum (without interest thereon) as soon as practicable after the six (6)-month waiting period has expired.