Early Retirement Distribution. A Participant who remains in the employ of the Employer until his Early Retirement Age (and is not entitled to a distribution by reason of an Involuntary Termination pursuant to [Section 5.3(a)]) will receive an Early Retirement Benefit equal to the vested balance of his Account as of the date of his Retirement. Payment of the Early Retirement Benefit will begin on the first day of the second calendar month following the date of the Participant's Retirement; provided, that the Participant timely elected (or was deemed to have timely elected) to receive an Early Retirement Benefit pursuant to [Section 3.1(b)] and did not subsequently elect to defer such payment pursuant to [Section 5.7]. Except as provided in [Section 10.3], distribution of the Early Retirement Benefit will be made in the form of equal annual installments through the date the Participant attains age eighty (80). Distributions will be made in the form of cash or Stock, depending on the Participant's investment crediting rates as provided in [Section 4.4]. The commencement of the payment of the Early Retirement benefit will be subject to the six (6) month delay applicable to Key Employees under [Section 5.4].

Normal Retirement Distribution. A Participant who remains in the employ of the Employer until his Normal Retirement Age will receive a Normal Retirement Benefit equal to the vested balance of his Account as of the date of his Retirement. Except as provided in [Section 10.3], payment of the Normal Retirement Benefit will begin on the first day of the second calendar month following the date of the Participant's Retirement in the form of equal annual installments through the date the Participant attains age eighty (80). Distributions will be made in the form of cash or Stock, depending on the Participant's investment crediting rates as provided in [Section 4.4]. The commencement of payment of the Normal Retirement Benefit will be subject to the six (6) month delay applicable to Key Employees under [Section 5.4]. A Participant who is entitled to a Normal Retirement Benefit distribution may elect to defer payment of such distribution pursuant to [Section 5.7].