Lehman Brothers Financial SA (LEHNQ)

[cottonisking]

Y Distribution without the Alternative Outcome:

ii. Tier Y: (Subject to the Tier Y Distribution Conditions
below) the Parties agree that the next £225m of
Available Funds after payment of the Tier X Distributions
in full shall be distributed to GP1 and LBHI as applicable
pro rata between GP1 and LBHI as and when funds
become available for distribution by the PLC
Administrators, (the “Tier Y Distributions”):
a. If GP1 and/or DB prevail in relation to Priority
Legal Issue 1 (in the form of a final and nonWITHOUT PREJUDICE
SUBJECT TO CONTRACT
4
appealable order or decision of the
court/appellate court having the effect that
statutory interest payable on the claim in respect
of the PLC Sub-Notes (“Claim D”) falls to be paid
in priority to the principal amount of the PLC
Sub-Debt (“Claim C”) (an “ECAPS Outcome”)), to
be applied:
i. 94% to GP1; and
ii. 6% to LBHI.