Effective as of the Plan Effective Date, Reorganized Exide shall authorize and issue shares of common stock (the “ New Common Stock ”) such that after conversion of all of the Second Lien Convertible Notes and on a fully diluted basis, the New Common Stock is allocated (the “ New Common Stock Allocation ”) as follows:
15.0% to holders of Senior Secured Note Claims;
3.0% in payment of the DIP/Second Lien Conversion Funding Fee (defined below);
2.0% in payment of the DIP/Second Lien Backstop Commitment Fee (defined below); and
80.0% to holders of Second Lien Convertible Notes upon conversion of all of the Second Lien Convertible Notes.