This excerpt taken from the MOV 10-Q filed Sep 5, 2008.
(a) A Participant may elect to receive his or her Account balance in a single lump sum or in ten (10) annual installments. If a Participant elects to receive his Accrued Benefit in the form of ten (10) annual installments, each payment shall be equal to the Participant’s Account balance as of the payment date, divided by the number of then remaining installment payments. Distributions shall be made to the Participant or, if the Participant is deceased, to the Participant’s Beneficiary. The method of distribution must be elected as part of the Participant’s initial Deferral of Compensation Election.
(b) A Participant’s subsequent election to delay a payment under the Plan or to change the form of a payment under the Plan shall be permitted only if (i) the new payment election does not take effect until at least twelve (12) months after the date on which the new payment election is made, and (ii) the new payment election delays payment for at least five (5)
years from the date that payment would otherwise have been met, absent the new payment election.
(c) Payment shall be made in Company Stock to the extent the Participant’s Account has been denominated in Company Stock (under Section 3.3 or otherwise). Otherwise, payment shall be made in cash.