A Participant who continues in the active employment of the Employer beyond his Normal Retirement Date shall continue to participate in the Plan, and his Delayed Retirement Date shall be the first day of the calendar month coinciding with or next following the date of his Termination of Employment with the Employer.
Participant's Delayed Retirement Date shall be the first day of the month coincident with or next following his last day of employment.
The delayed retirement benefit will be payable on the first day of each month beginning on the Participants Delayed Retirement Date.
If a Storck Participant for whom Sections 4.07(a) or 4.07(b) do not apply dies while in active employment, prior to his Normal, Early or Delayed Retirement Date, there shall be paid to the beneficiary last designated by him an amount equal to his Vested Cash Value.
A Participant upon retirement at his Delayed Retirement Date shall receive a retirement allowance on such retirement date which shall be the retirement allowance provided under Plan section 4.01 based on his Final Average Compensation, Final Average Incentive Pay, Credited Service or Participation Service (if applicable), and Primary Social Security Benefit (if applicable) as of his Delayed Retirement Date.