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Section 7 of the Plan shall be distributed as follows:
(a) in the form of payment elected by the Participant under Section 6.3 if the Participant makes such an election at
least 12 months before the commencement date of benefits under Section 7.2; or
(b) if the Participant does not make such a timely election, then in the form of an annuity for the Participant’s life.
(c) The amount payable under an optional form shall be subject to application of the same actuarial equivalence
factors as are applicable to the amount payable under the Qualified Pension Plan to which the benefit under this Plan
relates.
7.4 Delay for Specified Employees. Notwithstanding the benefit commencement date specified in Section 7.2, and
effective for benefits payable under this Section 7 with a benefit commencement date after December 31, 2004, benefits payable
to a Participant who is a “specified employee” will be subject to a “six-month payment delay.” A “six-month payment delay”
means the required delay in payment to a Participant who is a “specified employee” of amounts subject to Section 409A that are
paid upon Separation from Service, pursuant to Section 409A(a)(2)(B)(i) of the Code. When a “six-month payment delay” is
required, any benefit payment otherwise payable before the date which is six months after the date of Separation from Service,
will be held and distributed as soon as practicable after the “six-month payment delay” but in no event later than 90 days afte
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that delay or, if earlier, the date of the Participant’s death. The term “specified employee” shall have the meaning ascribed to this
term under Section 409A of the Code.
7.5 Lump Sum Cash Outs. Notwithstanding the form of payment specified in Section 7.2, 7.3 and subject to Section 7.4, if,
upon a Participant’s Separation from Service, the actuarial
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