Equilibrium and nonequilibrium distributions of molecular aggregates in a solution of a nonionic surfactant are investigated at the total surfactant concentration above the second critical micelle concentration (CMC2). The investigation is not limited by the choice of a specific micellar model. Expressions for the direct and reverse fluxes of molecular aggregates over the potential humps of the aggregation work are derived. These aggregation work humps set up activation barriers for the formation of spherical and cylindrical micelles. With the aid of the expressions for molecular aggregate fluxes, a set of two kinetic equations of micellization is derived. This set, along with the material balance equation, describes the molecular mechanism of the slow relaxation of micellar solution above the CMC2. A realistic situation has been analyzed when the CMC2 exceeds the first critical micelle concentration, CMC2. by an order of magnitude, and the total surfactant concentration varies within the range lying markedly above the CMC2 but not by more than 2 orders of magnitude. For such conditions, an equation relating the parameters of the aggregation work of a cylindrical micelle to the observable ratio of the total surfactant concentration and the monomer concentration is found for an equilibrium solution. For the same conditions, but in the nonequilibrium state of materially isolated surfactant solution, a closed set of linearized relaxation equations for total concentrations of spherical and cylindrical micelles is derived. These equations determine the time development of two modes of slow relaxation in micellar solutions markedly above the CMC2. Solving the set of equations yields two rates and two times of slow relaxation.