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After satisfying or reserving in full for secured, administrative, and priority claims, and the payment of Convenience Claims (as defined in the Plan) in accordance with the Plan, each Debtor will distribute its Available Cash (as defined in the Plan) to unsecured creditors on a pro rata basis. LBHI filed an Amended and Restated Certificate of Incorporation of LBHI with the Secretary of State of the State of Delaware as of March 6, 2012 to effect certain changes to the structure of LBHI as contemplated by the Plan.
In some cases, portions of Distributions (as defined in the Plan) will be reallocated in accordance with a global settlement. LBHI also adopted Amended and Restated By-Laws of LBHI to implement changes to LBHI’s governance as contemplated by the Plan.
A copy of the form of Trust Agreement was filed as Exhibit 10.1 to the Current Report on Form 8-K filed with the Securities and Exchange Commission on December 14, 2011 and is incorporated herein by reference. Thomas were, pursuant to and on confirmation of the Plan, appointed directors of LBHI, effective as of the Effective Date. Suckow’s background were described in Item 5.02 of LBHI’s Current Report on Form 8-K dated April 7, 2009 and Exhibit 10.1 thereto, which are hereby incorporated by reference into this Current Report.
A copy of the press release is attached hereto as Exhibit 99.3 and is incorporated herein by reference. The words “believe,” “expect,” “plan,” “intend,” “estimate,” or “anticipate” and similar expressions, as well as future or conditional verbs such as “will,” “should,” “would,” and “could,” often identify forward-looking statements.
In addition, the Indemnification Agreement establishes guidelines as to the defense and settlement of claims by the parties, the relevant burden of proof and the period of limitations.
The foregoing summary of the Indemnification Agreement is qualified in its entirety by reference to the full text of the Indemnification Agreement attached as Exhibit 10.1 hereto and incorporated by reference herein.
Such informational filings may be available electronically, for a fee, through the Bankruptcy Court’s Internet world wide web site Lehman Brothers Holdings Inc.
–Amendment, filed with the Bankruptcy Court on December 27, 2011 to the Supplemental Monthly Operating Report filed with the Bankruptcy Court on December 23, 2011 (incorporated by reference to LBHI’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 27, 2011)Lehman Brothers Holdings Inc.