COMBINE 2 cups flour and yeast in large bowl. Combine water, sugar, 1/4 cup butter and salt in medium saucepan. Heat until warm (120 to 130°F) and butter is almost melted.
ADD butter mixture and egg to flour mixture. Beat at low speed of electric mixer 30 seconds, scraping bowl constantly. Beat at high speed 3 minutes. Stir in enough remaining flour by hand to make a soft dough. Shape into a ball.
SPRAY a large bowl with no-stick cooking spray. Add dough to bowl, turning to coat surface. Cover. Let rise in warm place 1 hour or until double in size.
STIR down dough. Place on floured surface; knead until no longer sticky. Divide in half. Divide each half into thirds. Roll each portion into a rope or strand 12 x 2-inches long.
COAT a 17 x 12-inch baking sheet with no-stick cooking spray. Braid three strands together to form a loaf directly on the pan, making sure ends of braided loaf are turned under securely. Repeat with remaining dough. Cover. Let rise in warm place 1 hour or until double in size.
HEAT oven to 375°F. Bake 15 to 20 minutes or until golden brown. Brush lightly with melted butter.
If substituting White Lily All-Purpose Flour for bread flour, use larger amount.