Exide Technologies Enters Into Backstop Agreement With Supporting Noteholders Company Continues Plan of Reorganization Confirmation Process Goal to Emerge From Chapter 11 Restructuring by March 31, 2015 (January 8th, 2015)
Milton, Georgia (January 7, 2015) Exide Technologies (OTCQB: XIDEQ, www.exide.com) (Exide or the Company), a global leader in stored electrical-energy solutions, announced today that certain holders of its senior secured notes (the Backstop Parties) have executed a commitment to backstop (the Backstop Commitment Agreement) up to $160 million of second lien convertible notes to be offered to certain senior secured noteholders pursuant to a rights offering under Exides proposed plan of reorganization (POR). Holders of a majority of the principal amount of Exides senior secured notes also entered into an amended and restated plan support agreement (the Second Amended PSA) memorializing their support for the Companys proposed POR.
June 9, 2013 Exide Technologies Building 200 13000 Deerfield Parkway Milton, GA 30004 Dear Mr. Reilly: (July 26th, 2013)
This letter confirms and sets forth the terms and conditions of the engagement between Alvarez & Marsal North America, LLC (A&M) and Exide Technologies, and its assigns and successors (the Company), including the scope of the services to be performed and the basis of compensation for those services. Upon execution of this letter by each of the parties below (a) this letter will constitute an agreement between the Company and A&M (the Agreement) and (b) that certain engagement letter agreement, dated April 26, 2013 (the Consulting Agreement) is hereby terminated, provided that, for the avoidance of doubt, pursuant to section 5(d) of the Consulting Agreement, the provisions of the Consulting Agreement that give the parties rights or obligations beyond its termination (including but not limited to indemnification, payment of outstanding fees and expenses, confidentiality, non-solicitation and limitations on liabilities) shall survive.
July 25, 2013 Exide Technologies Building 200 13000 Deerfield Parkway Milton, GA 30004 Dear Mr. Reilly: (July 26th, 2013)
This letter amends that certain engagement letter agreement, dated June 9, 2013 (the Engagement Letter), by and between Alvarez & Marsal North America, LLC (A&M) and Exide Technologies, and its successors and assigns (the Company). All capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Engagement Letter.