Document:

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                                                                     EXHIBIT 4.4

                         REGISTRATION RIGHTS AGREEMENT
                         -----------------------------

     This REGISTRATION RIGHTS AGREEMENT is effective as of September 29, 2000,
among Exide Corporation, a Delaware corporation (the "Company"), and the initial
                                                      -------
investors listed on the signature pages hereto as holders (collectively,
together with their permitted successors and assigns, the "Holders") of Warrants
                                                           -------
(as defined below) and Applicable Stock (as defined below).

     WHEREAS, pursuant to the terms of an Investment Agreement dated as of
September 29, 2000 (the "Investment Agreement"), between the Company and the
                         --------------------
Holders, the Company has agreed to issue and sell to each of the Holders, in
connection with the Amended and Restated Credit and Guarantee Agreement dated as
of September 29, 2000 (the "Credit Agreement"), among the Company, the borrowing
                            ----------------
subsidiaries party thereto, the guarantors party thereto, the lenders party
thereto and Credit Suisse First Boston, as administrative agent, an aggregate of
786,000 Initial Warrants to acquire shares of common stock, par value $.01 per
share, of the Company (the "Common Stock");
                            ------------

     WHEREAS, the Company has agreed, subject to approval of its board of
directors, to issue to, or to the order of, Credit Suisse First Boston and
Salomon Smith Barney Inc. an aggregate of 500,000 Additional Warrants, each such
Additional Warrant initially entitling the holder thereof to purchase one (1)
share of Common Stock of the Company at an exercise price of $8.99 per share of
Common Stock;

     WHEREAS, the execution and delivery of this Agreement is a condition to the
obligations of the Holders set forth in Section 5 of the Investment Agreement
and to the obligations of the lenders to extend credit under the Credit
Agreement;

     NOW, THEREFORE, in consideration of the foregoing and the mutual promises
and agreements contained herein, the Holders and the Company agree as follows:

                                  ARTICLE 1.

                                  DEFINITIONS

     1.1.  Definitions.
           -----------

     (a)   "Additional Warrant" is defined in the Warrant Agreement.
            ------------------
<PAGE>

     (b)  "Affiliate" has the meaning defined in Rule 12b-2 promulgated under
           ---------
the Securities Exchange Act of 1934, as amended (such Act, including the rules
and regulations promulgated thereunder, the "1934 Act".
                                             --------

     (c)  "Applicable Stock" means, at any time, the (i) shares of Common Stock
           ----------------                           -
or other securities issued pursuant to or in respect of any Warrant (including,
without limitation, pursuant to the terms of the Warrant Agreement), plus (ii)
                                                                           --
shares of Common Stock (or other securities) that are issued to the Holders in
respect of shares (or other securities) described in clause (i) pursuant to the
Warrant Agreement or in any reclassification, share combination, share
subdivision, share dividend, share exchange, merger, consolidation or similar
transaction or event; provided, that such securities described in clauses (i)
                      --------  ----
and (ii) shall cease to be "Applicable Stock" when (w) a registration statement
with respect to the sale of such securities shall have become effective under
the Securities Act and such securities shall have been disposed of in accordance
with such registration statement, (x) such securities shall have been sold to
the public pursuant to Rule 144 under the Securities Act, (y) such securities
shall have been otherwise transferred to a Person in accordance with the Warrant
Agreement and the Investment Agreement and subsequent disposition of such
securities shall not require registration or qualification of them under the
Securities Act or any similar state law then in force or (z) such securities
shall have ceased to be outstanding.

     (d)  "Beneficial Ownership" has the meaning defined in Rule 13d-3
           --------------------
promulgated under the 1934 Act.

     (e)  "Code" means the Internal Revenue Code of 1986, as amended.
           ----

     (f)  "Equity Security" means any (i) voting stock of the Company (other
           ---------------             -
than shares of voting stock not having the right to vote generally in any
election of directors of the Company or any of its subsidiaries), (ii)
                                                                   --
securities of the Company convertible into or exchangeable for such stock, and
(iii) options, rights and warrants issued by the Company to acquire such stock.
 ---

     (g)  "Initial Warrant" is defined in the Warrant Agreement.
           ---------------

     (h)  "Requisite Holders" means Holders holding more than 50% in interest of
           -----------------
the aggregate Warrants and Applicable Stock outstanding.  For purposes of this
definition, an interest in Applicable Stock shall be deemed to be equivalent to
an interest in the number of Warrants converted to obtain such Applicable Stock.

     (i)  "Person" means any individual, partnership, joint venture,
           ------
<PAGE>

corporation, trust, unincorporated organization, limited liability company, or
other entity or organization.

     (j)  "Warrant" is defined in the Warrant Agreement.
           -------

     (k)  "Warrant Agreement" means the Warrant Agreement dated as of September
           -----------------
29, 2000, between the Company and The Bank of New York, as Warrant Agent.

                                  ARTICLE 2.

                              REGISTRATION RIGHTS

     2.1.  Demand Registration.
           -------------------

     (a)   Demand Rights.  The Company agrees that, at any time but no more than
           -------------
once, upon the request of Requisite Holders, it will promptly file a
registration statement (a "Registration Statement") with the Securities and
                           ----------------------
Exchange Commission ("SEC") under the Securities Act of 1933, as amended (the
                      ---
"1933 Act") for sale in an underwritten public offering the approximate number
---------
of shares of Applicable Stock specified in such request (the "Registered
                                                              ----------
Shares").  Such request shall also specify the intended method or methods of
------
disposition of such Registered Shares.

           (i)  Withdrawn Requests.  Except as otherwise provided herein, any
                ------------------
request by the Requisite Holders for registration pursuant to this Section 2.1
which is subsequently withdrawn by the Requisite Holders prior to the
Registration Statement becoming effective and the offering of shares thereunder
having closed shall not constitute a registration for purposes of this Section
2.1(a).  The Company shall pay the expenses referred to in Sections 2.6 for any
such withdrawn registration (a "Withdrawn Registration"); provided, that the
                                ----------------------    --------  ----
Company shall not be liable for the expenses of any registration that is
requested by the Requisite Holders after the Requisite Holders have withdrawn
one or more registrations that do not meet at least one of the following
conditions: (i) the Withdrawn Registration was withdrawn by the Requisite
             -
Holders in good faith due to marketing or regulatory reasons, including as a
result of any adverse developments or changes with respect to the Company, (ii)
                                                                            --
the registration statement relating to the Withdrawn Registration was not
declared effective within 90 days of the date such registration statement was
first filed with the Securities Exchange Commission, (iii) within 180 days after
                                                      ---
the effectiveness of the Withdrawn Registration, such Withdrawn Registration was
subject to any stop order, injunction or similar order or requirement of the
<PAGE>

Securities Exchange Commission or any other governmental agency or court for any
reason and the Company failed to have such stop order, injunction or other order
or requirement removed, withdrawn or resolved to the reasonable satisfaction of
the Requisite Holders within 30 days, (iv) any of the Applicable Stock requested
                                       --
by Requisite Holders to be included in the Withdrawn Registration was not so
included, (v) the conditions to closing specified in the underwriting agreement
           -
or purchase agreement entered into in connection with the Withdrawn Registration
were not satisfied (other than as a result of a default or breach thereunder by
Requisite Holders) or (vi) the Requisite Holders have reimbursed the Company for
                       --
all expenses paid by the Company in accordance with Section 2.6 with respect to
the Withdrawn Registration.

          (ii)  Suspension of Company's Obligations.  The Company's obligations
                -----------------------------------
to file (but not its obligations to prepare) a Registration Statement pursuant
to Section 2.1 shall be suspended for up to 180 days if:  (A) the fulfillment of
                                                           -
such obligations would require the Company to make a disclosure that would, in
the reasonable good faith judgment of the Company's board of directors, be
detrimental to the Company and premature; (B) the Company having filed a
                                           -
registration statement with respect to Equity Securities to be distributed in an
underwritten public offering is advised by its lead or managing underwriter that
an offering of the Registered Shares would materially and adversely affect the
distribution of such Equity Securities; (C) the Company has closed an
                                         -
underwritten offering of Equity Securities; or (D) the Company shall determine
                                                -
in good faith that such an offering will materially interfere with a pending or
contemplated financing, merger, sale of assets, recapitalization or other
similar corporate action of the Company and the Company shall have furnished to
each seller of Applicable Stock an officers' certificate to that effect.  Such
obligations shall be reinstated, unless the Requisite Holders shall have given
the Company notice of withdrawal pursuant to Section 2.1(a)(i), upon the
expiration of such 180-day period or, if earlier: (x) in the case of clause (A)
                                                   -
above, upon the making of such disclosure by the Company (or, if earlier, when
such disclosure would either no longer be necessary for the fulfillment of such
obligations or no longer be detrimental); (y) in the case of clauses (B) and (C)
                                           -
above, six (6) months after the closing of the underwritten equity offering; and
(z) in the case of clause (D) above, not later than 180 days from the date of
 -
the request of the Requisite Holders under Section 2.1(a).

          (iii) Notice to Other Holders of Warrants and Applicable Stock.
                --------------------------------------------------------
Promptly after receipt of any such request that the Company register Applicable
Stock pursuant to Section 2.1, the Company will give written notice of such
requested registration to all other holders of Warrants or Applicable Stock and,
<PAGE>

subject to Section 2.1(a)(v) below, will include in such registration all shares
of Applicable Stock with respect to which the Company has received written
requests for inclusion therein within 10 days after the receipt of the Company's
notice.

          (iv)  No Company Initiated Registration. After receipt of notice of a
                ---------------------------------
requested registration pursuant to Section 2.1, the Company shall not initiate,
without the consent of the Requisite Holders, a registration of any of its
securities for its own account until 90 days after such registration has been
terminated or declared effective (unless advised by the managing underwriter
that a longer period, not to exceed 180 days, is required, or such shorter
period as the managing underwriter may agree).

          (v)   Priority in Demand Registrations. Subject to the last sentence
                --------------------------------
of this Section 2.1(a)(v) and to the priority allocation provisions of this
Section 2.1(a)(v), if a registration requested pursuant to Section 2.1 involves
an underwritten offering, the Company may elect to sell securities pursuant to
such registration statement. If the Company or any other Persons elect to sell
securities pursuant to such registration statement and the managing underwriter
advises the Company and any such other Persons in writing that, in its opinion,
the number of securities requested to be included in such registration
(including securities of the Company which are not Registered Shares) exceeds
the number which can be sold in such offering without having an adverse effect
on the marketability of such offering, then the Company will (subject to the
last sentence of this Section 2.1(a)(v)) include in such registration: (A)
                                                                        -
first, all of the Registered Shares requested to be included in such
registration by any Holder, and (B) second, that number of securities of the
                                 -
Company and any other selling Persons (allocated pro rata among the Company and
such other Persons on the basis of the number of securities that the Company or
such other Persons would otherwise have registered or offered) that are not
Registered Shares which, in the opinion of the managing underwriter, can be sold
without having the adverse effect referred to above.  In the event that the
number of Registered Shares requested to be included in such registration
exceeds the number which, in the opinion of such managing underwriters, can be
sold, the number of such Registered Shares included in such registration shall
be allocated among the respective holders thereof on the basis of the aggregate
number of shares of Applicable Stock owned by each such holder.  Notwithstanding
anything to the contrary contained herein, neither the Company nor any other
Person (other than Pacific Dunlop Holdings (USA), Inc. ("PDH")) may include any
                                                         ---
securities in any registration pursuant to this Section 2.1 without the prior
written consent of the holders of a majority of the Applicable Stock covered by
such Registration
<PAGE>

Statement.

          (vi) Selection of Underwriters.  The Company shall have the right to
               -------------------------
designate the managing underwriters, which shall be reasonably satisfactory to
the Requisite Holders, for any public offering of Registered Shares made
pursuant to this Section 2.1.

     (b)  Company Obligations. The Company agrees to (i) use its reasonable best
          -------------------                         -
efforts to have any registration of the Registered Shares made pursuant to this
Section 2.1 declared effective as promptly as practicable after the filing of
the Registration Statement, and (ii) keep such Registration Statement effective
                                 --
for a period sufficient to complete the distribution of the Registered Shares.
The Company further agrees to supplement or make amendments to the Registration
Statement, if required by (x) the registration form utilized by the Company for
                           -
such registration or by the instructions applicable to such registration form,

(y) the 1933 Act or the rules and regulations thereunder or (z) any underwriter
--                                                           -
with respect to information concerning such underwriter or the plan of
distribution to be utilized with respect to the Registered Shares.  The Company
agrees not to file or make any amendment to any Registration Statement with
respect to any Common Stock, or any amendment of or supplement to the prospectus
used in connection therewith, which refers to any seller of any Applicable Stock
covered thereby by name, or otherwise identifies such seller as the holder of
any Applicable Stock without the consent of such seller, such consent not to be
unreasonably withheld or delayed, unless such disclosure is required by law.

     2.2. Incidental Registration.
          -----------------------

     (a)  If the Company shall at any time propose to file a registration
statement under the 1933 Act for an offering of Equity Securities of the Company
for cash (other than an offering relating to (i) a business combination that is
                                              -
to be filed on Form S-4 under the 1933 Act (or any successor form thereto) or
(ii) any employee benefit plan, including, without limitation, a stock option or
---
stock purchase plan), the Company shall provide prompt written notice to each
holder of Warrants or Applicable Stock of its intention to file a Registration
Statement relating to such offering and of the rights of the Holders under this
Section 2.2.  Each Holder shall have the right to request in writing, within 10
days after delivery of such notice, that the Company include all or a portion of
such of the Applicable Stock held by it or issuable upon conversion of its
Warrants in such Registration Statement.  The Company shall include in the
public offering, on a pro rata basis, all of the Applicable Stock that any
Holder has requested be
<PAGE>

included (collectively, the "Incidental Registered Shares"), unless the
                             ----------------------------
underwriter for the public offering or the underwriter managing the public
offering (in either case, the "managing underwriter") delivers a notice
                               --------------------
described in Section 2.2(b) hereof. Notwithstanding the foregoing: (A) if, at
                                                                    -
any time after giving written notice of its intention to register any securities
and prior to the effective date of the registration statement filed in
connection with such registration, the Company shall determine for any reason
not to register such securities, the Company may, at its election, give written
notice of such determination to each of the selling Holders and, thereupon,
shall be relieved of its obligation to register the Incidental Registered Shares
in connection with such registration (provided, that the Company shall pay the
                                      --------  ----
expenses referred to in Section 2.6 incurred in connection therewith), without
prejudice, however, to the right of the Holders to request that a registration
be effected under Section 2.1; (B) if such registration involves an underwritten
                                -
offering, each selling Holder must sell all Incidental Registered Shares to the
underwriters selected by the Company on the same terms and conditions as those
that apply to the Company, with such differences, including any with respect to
indemnification and liability insurance, as may be customary in combined primary
and secondary offerings; and (C) if the Company files a secondary shelf
                              -
registration for resales by a holder or holders of Common Stock, then any Holder
may only include Incidental Registered Shares therein if it agrees to the same
provisions, if any, as the Company and such holder or holders may have agreed
upon regarding the suspension of sales under such registration upon the
existence of circumstances similar to those described in Section 2.1(a)(ii). If
a registration requested pursuant to this Section 2.2 involves an underwritten
public offering, the board of directors of any Holder that has requested
inclusion of any of its Applicable Stock, in the exercise of their fiduciary
duty may elect, in writing prior to the distribution of preliminary prospectuses
in connection with such registration statement, not to register such securities
in connection with such offering.

     (b)  Priority in Incidental Registrations.  If a registration pursuant to
          ------------------------------------
Section 2.2 involves an underwritten offering and the managing underwriter
advises the Company in writing (with a copy to each Holder requesting
registration hereunder) that, in its opinion, the number of securities to be
included in such registration including the Incidental Registered Shares exceeds
the number which can be sold in such offering without having an adverse effect
on such offering, then all shares otherwise to be sold by the Company, each
Holder, and any entitled Person desiring to register shares in such offering
will be reduced in such registration or offering in proportion to the shares
that the respective parties would otherwise have registered or offered; provided
                                                                        --------
that (i)
----
<PAGE>

in the first offering (if any) of Equity Securities to be sold by the Company
that is subject to the rights of the Holders under Section 2.2(a) and occurs
within two years from the date hereof, first, all shares otherwise to be sold by
the Company may first be included in such registration or offering, and second,
if any other number of shares can be sold, all shares otherwise to be sold by
each Holder and any other such Person (subject to clause (ii) below) shall be
reduced to such number in proportion to the shares that the respective parties
would otherwise have registered or offered and (ii) in an offering of securities
to be sold by PDH pursuant to its right to demand registration under Section 2.1
              ---
of its registration rights agreement with the Company dated on or about the date
hereof, PDH shall have priority over the Holders such that any reduction to the
number of securities offered shall be made first to the number of securities to
be sold by the Holders before any reduction in the number of securities to be
sold by PDH. In the event of a cutback to any Holder that would result in less
than 90% of the Incidental Registered Shares of such Holder being offered, such
Holder may elect, in its sole discretion, not to register or offer any
Incidental Registered Shares in such offering.

     (c)  Limitation with Respect to Incidental Registrations.  If any
          ---------------------------------------------------
registration shall be made in connection with an underwritten public offering
pursuant to this Section 2.2, no Holder shall effect any public sale or
distribution of any Common Stock (except as part of such public offering) during
the 180-day period beginning on the effective date of such registration, if, and
to the extent that, the managing underwriter(s) of any such offering
determine(s) that such action is necessary or desirable to effect such offering;
provided that such Holder has received the written notice required by Section
-------- ----
2.2(a).  Notwithstanding the foregoing, no Holder shall be obligated to comply
with the restrictions of this subsection as a result of an underwritten public
offering subject to this Section 2.2 more than once in any twelve-month period.

     2.3. Additional Rights.  If the Company at any time grants any other
          -----------------
holders of Equity Securities any rights to request the Company to effect the
registration of any such Equity Securities on terms more favorable to such
holders than the terms set forth in this Agreement, this Agreement shall be
deemed amended or supplemented to the extent necessary to provide the Holders
such more favorable rights and benefits.

     2.4. Registration Procedures.  Subject to the provisions of Sections 2.1
          -----------------------
and 2.2 of this Agreement, in connection with the registration of any Applicable
Stock hereunder, the Company shall as promptly as possible and in such a manner
as to permit the sale of the Registered Shares or Incidental Registered
<PAGE>

Shares in accordance with the intended method or methods of disposition thereof:

     (a)  Furnish to each seller of Applicable Stock, and to the counsel
selected by the holders of a majority of the Applicable Stock covered by such
Registration Statement for review by such counsel, prior to the filing of any
registration statement or a supplement or amendment thereto, copies of such
registration statement, supplement, or amendment as is proposed to be filed, and
thereafter such number of copies of such registration statement, supplement, or
amendment (in each case including all exhibits thereto), the prospectus included
in such registration statement (including each preliminary prospectus) and such
other documents in such quantities as any such seller may reasonably request
from time to time in order to facilitate the disposition of the Registered
Shares or the Incidental Registered Shares, as the case may be;

     (b)  Not file any Registration Statement or amendment or post-effective
amendment or supplement to such Registration Statement to which such counsel,
the managing underwriters or the holders of a majority of the Applicable Stock
covered by such registration statement shall have reasonably objected in
writing;

     (c)  Use its reasonable best efforts to register or qualify (or exempt from
such registration or qualification) the Registered Shares or the Incidental
Registered Shares, as the case may be, under such other securities or blue sky
laws of such jurisdiction as any seller reasonably requests and do any and all
other acts and things as may be reasonably necessary or advisable to enable such
seller to consummate the disposition in such jurisdictions of the Registered
Shares or the Incidental Registered Shares, as the case may be; provided that
                                                                -------- ----
the Company will not be required to (i) qualify generally to do business in any
                                     -
jurisdiction where it would not otherwise be required to qualify but for this
Section 2.4(c), or (ii) subject itself to taxation in any such jurisdiction;
                    --

     (d)  Use its reasonable best efforts to cause the Registered Shares covered
by the applicable Registration Statement to be registered with or approved by
such other governmental agencies or authorities within the United States, except
as may be required solely as a consequence of the nature of any selling Holder,
in which case the Company will cooperate in all reasonable respects with the
filing of such Registration Statement and the granting of such approvals, as may
be necessary to enable such selling Holder thereof or the managing underwriters,
if any, to consummate the disposition of such Registered Shares;
<PAGE>

     (e)  Notify each seller of Applicable Stock, at any time when a prospectus
relating to such registration is required to be delivered under the 1933 Act, of
the happening of the existence of any fact or circumstance or any event as a
result of which a Registration Statement (including any prospectus contained
therein) or a supplement or amendment thereto contains an untrue statement of a
material fact or omits to state any material fact required to be stated therein
or necessary to make the statements therein not misleading, and the Company
will, as promptly as practicable, prepare and file with the SEC a supplement or
amendment to such Registration Statement, prospectus, supplement, or amendment
so that, as so amended, such Registration Statement, prospectus, supplement, or
amendment will not contain an untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the
statements therein not misleading;

     (f)  Enter into customary agreements (including an underwriting agreement
in customary form) and take such other actions as are reasonably required
(including those reasonably requested by the managing underwriter or any selling
Holder) in order to expedite or facilitate the disposition of the Registered
Shares or the Incidental Registered Shares, as the case may be;

     (g)  Make such representations and warranties, subject to the Company's
ability to do so, to the selling Holders and the underwriters with respect to
the business of the Company and its subsidiaries, the registration statement,
prospectus and documents incorporated by reference or deemed incorporated by
reference, if any, in each case, in form, substance and scope as are customarily
made by issuers to underwriters in underwritten offerings and confirm the same
if and when requested;

     (h)  Use its reasonable best efforts to obtain opinions of counsel to the
Company and updates thereof (which counsel and opinions (in form, scope and
substance) shall be reasonably satisfactory to the managing underwriters,
counsel, and the holders of a majority of the shares of Applicable Stock being
sold) addressed to each of the sellers and the underwriters and covering the
matters customarily covered in opinions requested in underwritten offerings and
such other matters as may be reasonably requested by such counsel or the
managing underwriters;

     (i)  Make available for inspection by any selling Holder, any underwriter
participating in any disposition pursuant to such registration, and any
attorney, accountant or other agent retained by any such seller or any such
underwriter (collectively, the "Inspectors"), all financial and other records,
                                ----------
<PAGE>

pertinent corporate documents and properties of the Company (collectively, the
"Records") as shall be reasonably necessary to enable them to exercise their due
 -------
diligence responsibility, and cause the officers, directors and employees of the
Company to supply all information reasonably requested by any such Inspector in
connection with such registration; provided that (i) Records and information
                                   --------       -
obtained hereunder shall be used by such persons only to exercise their due
diligence responsibility and (ii) Records or information which the Company
                              --
determines, in good faith, to be confidential shall not be disclosed by the
Inspectors unless (x) disclosure of such information is required by court or
                   -
administrative order or is necessary to respond to inquiries of regulatory
authorities, (y) disclosure of such information is required by law (including
              -
any disclosure requirements pursuant to applicable United States securities laws
and applicable securities laws of any state, territory or possession of the
United States of America in connection with the filing of any registration
statement or the use of any prospectus referred to in this Agreement) or (z)
                                                                          -
such information becomes generally available to the public other than as a
result of a disclosure or failure to safeguard by any such person.  Any Holder
shall use reasonable best efforts, prior to any such disclosure by it described
in clause (y) above, to inform the Company that such disclosure is necessary to
avoid or correct a misstatement or omission in a registration statement.  Each
Holder further agrees that it will, upon learning that disclosure of such
Records or information is sought in a court or governmental authority, give
notice to the Company and allow the Company, at the expense of the Company, to
undertake appropriate action to prevent disclosure of the Records or information
deemed confidential;

     (j)  Use reasonable best efforts to obtain one or more comfort letters and
updates thereof, addressed to the holders of the Applicable Stock being sold,
from the independent public accountants for the Company (and, if necessary, any
other certified public accountants of any subsidiary of the Company or any
business acquired or to be acquired by the Company for which financial
statements and financial data are, or are required to be, included in the
registration statement) in customary form and covering such matters of the type
customarily covered by comfort letters as the holders of a majority of the
shares of Applicable Stock being sold reasonably request;

     (k)  Otherwise comply with all applicable rules and regulations of the SEC,
and make generally available to its security holders, as soon as reasonably
practicable, an earnings statement covering a period of twelve (12) months,
beginning within three (3) months after the effective date of the registration,
which earnings statement shall satisfy the provisions of Section 11(a) of the
1933 Act and Rule 158 thereunder;
<PAGE>

     (l)  Cooperate and assist in any filings required to be made with the
National Association of Securities Dealers, Inc.;

     (m)  Use its reasonable best efforts to prevent the issuance of any order
suspending the effectiveness of the registration statement or of any order
preventing or suspending the use of a prospectus or suspending the qualification
(or exemption from qualification) of any of the Applicable Stock covered thereby
for sale in any jurisdiction, and, if any such order is issued, to obtain the
withdrawal of any such order at the earliest possible moment; and

     (n)  Cooperate with the selling Holders to facilitate the timely
preparation and delivery of certificates representing the Applicable Stock being
sold and not bearing any restrictive legends; and enable such Applicable Stock
to be in such denominations and registered in such names as the selling Holders
may request;

     (o)  Use its reasonable best efforts to cause all Registered Shares or
Incidental Registered Shares, as the case may be, to be listed on each
securities exchange on which similar securities issued by the Company are
listed.

     2.5. Conditions to Offerings.
          -----------------------

     (a)  The obligations of the Company to take the actions contemplated by
Sections 2.1 and 2.2 with respect to the registration of Applicable Stock shall
be subject to the condition that the seller of such Applicable Stock shall
conform to all applicable requirements of the 1933 Act and the 1934 Act with
respect to the offering and sale of securities and advise each underwriter,
broker or dealer through which any of the Registered Shares or Incidental
Registered Shares, as the case may be, are offered that such shares are part of
a distribution that is subject to the prospectus delivery requirements of the
1933 Act.

     (b)  The Company may require each seller of any Applicable Stock as to
which any registration is being effected to furnish to the Company such
information regarding such seller or the distribution of the Registered Shares
or Incidental Registered Shares, as the case may be, as the Company may from
time to time reasonably request in writing, in each case only as required by the
1933 Act or the rules and regulations thereunder or under state securities or
blue sky laws.

     (c)  Each Holder that is participating in any registration hereunder agrees
that, upon receipt of any notice from the Company of the happening of any event
of the kind described in Section 2.4(e), such Holder will forthwith
<PAGE>

discontinue disposition of Registered Shares or Incidental Registered Shares, as
the case may be, pursuant to the registration covering such shares until receipt
by such Holder of the copies of the supplemented or amended prospectus
contemplated by Section 2.4(e).

     2.6.  Registration Expenses.  Regardless of whether a registration
           ---------------------
statement becomes effective, the Company shall bear all expenses incident to a
registration pursuant to Sections 2.1 and 2.2, including, without limitation,
(a) all fees and expenses of compliance with federal or state securities or blue
sky laws (including reasonable fees and disbursements of counsel in connection
with blue sky qualifications of the Registered Shares and Incidental Registered
Shares), rating agency fees, printing, messenger, delivery and telephone
expenses, the fees and expenses incurred in connection with the listing of the
securities to be registered on each securities exchange on which similar
securities issued by the Company are then listed, fees and disbursements of
counsel for the Company and its independent certified public accountants
(including the expenses of any comfort letters required by or incident to such
performance), reasonable fees and expenses of one firm of counsel to the selling
Holders, reasonable fees, expenses and disbursements of the Warrant Agent,
securities acts liability insurance (if the Company elects to obtain such
insurance), the reasonable fees and expenses of any special experts retained by
the Company in connection with such registration, and the fees and expenses of
other persons retained by the Company, but excluding (b) the selling Holders'
share of underwriting discounts and commissions.

     2.7.  Indemnification; Contribution.  The provisions of this Section 2.7
           -----------------------------
shall apply in connection with registrations made pursuant to Sections 2.1 and
2.2.

     (a)   Indemnification by the Company.  The Company agrees to indemnify, to
           ------------------------------
the fullest extent permitted by law, each Holder, its respective Affiliates and
their respective directors, officers, employees and agents and each Person who
controls (within the meaning of the Securities Act) such holder ("Seller
                                                                  ------
Indemnitees") against any and all actions, losses, claims, damages, liabilities
-----------
and expenses (including attorneys' fees) arising out of or based upon any untrue
or alleged untrue statement of material fact contained in any registration
statement, prospectus, any amendment or supplement thereto or preliminary
prospectus (each as amended and/or supplemented, if the Company shall have
furnished any amendments or supplements thereto), or any omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein (in the case of a prospectus, in the
light
<PAGE>

of the circumstances under which they were made) not misleading, except, with
respect to any Seller Indemnitee, insofar as such untrue statement or omission
is made in reliance on and conformity with any information with respect to such
Seller Indemnitee furnished to the Company in writing by such Seller Indemnitee
expressly for use therein. In connection with an underwritten offering, the
Company will indemnify each underwriter thereof, the officers and directors of
such underwriter, and each Affiliate of each underwriter to the same extent as
provided above with respect to the indemnification of the holders of Applicable
Stock; provided that such underwriter agrees to indemnify the Company to the
       --------
same extent as provided below with respect to the indemnification of the Company
by the holders of Applicable Stock.

     (b)  Indemnification by the Sellers. In connection with any registration in
          ------------------------------
which a holder of Applicable Stock or any other holder of the Company's
securities is participating, each such holder will indemnify the Company, its
directors, its officers who sign any registration statement, and its Affiliates
to the same extent as the foregoing indemnity from the Company to the Seller
Indemnitees, but only with respect to information relating to such holder
furnished to the Company in writing by such holder expressly for use in any
registration statement, prospectus, any amendment or supplement thereto, or any
preliminary prospectus.

     (c)  Conduct of Indemnification Proceedings.  In case any proceeding
          --------------------------------------
(including any governmental investigation) shall be instituted involving any
Person in respect of which indemnity may be sought pursuant to Section 2.7(a) or
Section 2.7(b), such Person (hereinafter called an "Indemnified Party") shall
                                                    -----------------
promptly notify each Person against whom such indemnity may be sought
(hereinafter called an "Indemnifying Party") in writing and the Indemnifying
                        ------------------
Party, upon request of the Indemnified Party, shall retain counsel reasonably
satisfactory to the Indemnified Party to represent the Indemnified Party and any
others the Indemnifying Party may designate in such proceeding and shall pay the
fees and disbursements of such counsel related to such proceeding.  In any such
proceeding, any Indemnified Party shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Party unless (i) the Indemnifying Party and the Indemnified
                               -
Party shall have mutually agreed to the retention of such counsel or (ii) the
                                                                      --
named parties to any such proceeding (including any impleaded parties) include
both an Indemnifying Party and an Indemnified Party and the Indemnified Party
shall have been advised by counsel that representation of both parties by the
same counsel would be inappropriate due to actual or potential differing
interests between them.  It is understood that the Indemnifying Party shall not,
in
<PAGE>

connection with any proceeding or related proceedings in the same jurisdiction,
be liable for the fees and expenses of more than one separate firm (in addition
to any local counsel) for all such Indemnified Parties, and that all such fees
and expenses shall be reimbursed as they are incurred. The Indemnifying Party
shall not be liable for any settlement of any proceeding effected without its
written consent, but if settled with such consent or if there be a final
judgment against the Indemnified Party, the Indemnifying Party agrees to
indemnify the Indemnified Party from and against any loss or liability by reason
of such settlement or judgment. No Indemnifying Party shall, without the prior
written consent of the Indemnified Party, effect any settlement of any pending
or threatened proceeding in respect of which any Indemnified Party is or could
have been a party and indemnity could have been sought hereunder by such
Indemnified Party, unless such settlement includes an unconditional release of
such Indemnified Party from all liability on claims that are the subject matter
of such proceeding.

     (d)  Contribution.  If the indemnification provided for in this Section 2.7
          ------------
from the Indemnifying Party is unavailable to an Indemnified Party in respect of
any losses, claims, damages, liabilities or expenses referred to in this Section
2.7, then the Indemnifying Party, in lieu of indemnifying such Indemnified
Party, shall contribute to the amount paid or payable by such Indemnified Party
as a result of such losses, claims, damages, liabilities or expenses in such
proportion as is appropriate to reflect the relative fault of the Indemnifying
Party and Indemnified Parties in connection with the actions which resulted in
such losses, claims, damages, liabilities or expenses, as well as any other
relevant equitable considerations.  The relative fault of such Indemnifying
Party and Indemnified Parties shall be determined by reference to, among other
things, whether any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a material
fact, has been made by, or relates to information supplied by, such Indemnifying
Party or Indemnified Parties, and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such action.  The
amount paid or payable by a party as a result of the losses, claims, damages,
liabilities and expenses referred to above shall be deemed to include, subject
to the limitations set forth in Section 2.7(c), any legal or other fees or
expenses reasonably incurred by such party in connection with any investigation
or proceeding.

          (i)   The parties hereto agree that it would not be just and equitable
if contribution pursuant to this Section 2.7(d) were determined by pro rata
allocation (even if the Holders were treated as one entity for such purpose) or
by any other method of allocation which does not take into account the
<PAGE>

equitable considerations referred to in the immediately preceding paragraph.
Notwithstanding the provisions of this Section 2.7, no Holder shall be required
to contribute any amount in excess of the amount by which the total price at
which the Registered Shares or Incidental Registered Shares sold by it and
distributed to the public were offered to the public exceeds the amount of any
damages which such Holder has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the 1933 Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.

           (ii)  If indemnification is available under this Section 2.7, the
Indemnifying Parties shall indemnify each Indemnified Party to the full extent
provided in Sections 2.7(a) and 2.7(b) without regard to the relative fault of
said Indemnifying Party or Indemnified Party or any other equitable
consideration provided for in this Section 2.7(d).

     2.8.  Rule 144.  The Company covenants that it will file the reports
           --------
required to be filed by it under the 1933 Act and the 1934 Act and the rules and
regulations promulgated thereunder, and it will take such further action as any
holder or holders of Warrants or Applicable Stock may reasonably request, all to
the extent required from time to time to enable such holders to sell shares of
Common Stock without registration under the 1933 Act within the limitation of
the exemptions provided by (a) Rule 144 under the 1933 Act, as such Rule may be
                            -
amended from time to time, or (b) any similar rule or regulation hereafter
                               -
adopted by the SEC.  Upon the request of any holder or holders of Warrants or
Applicable Stock, the Company will deliver to such holder or holders a written
statement as to whether it has complied with such requirements.

                                  ARTICLE 3.

                                 MISCELLANEOUS

     3.1.  No Inconsistent Actions or Agreements; Third Party Beneficiaries.
           ----------------------------------------------------------------
The Company will not hereafter enter into any agreement with respect to its
securities which is inconsistent with the rights granted to the Holders in this
Agreement.  The Company agrees not to take any action which could impede or
delay the exercise by any Holder of any of its rights under this Agreement.

     3.2.  Notices.  All notices, requests and other communications to any
           -------
<PAGE>

party hereunder shall be in writing (including telecopy or similar writing) and
shall be given:

                    If to the Company, to:

                    Exide Corporation
                    645 Penn Street
                    Reading, Pennsylvania 19601
                    Attention: General Counsel
                    Facsimile: 610-378-0220

                    with a copy (which shall not constitute notice) to:

                    Kirkland & Ellis
                    200 East Randolph Drive
                    Chicago, Illinois 60601
                    Attention: Carter W. Emerson, P.C.
                    Facsimile: 312-861-2200

                    If to any Holder, to it at such Holder's last known address
                    appearing in the register maintained by the Warrant Agent

                    with a copy (which shall not constitute notice) to:

                    Debevoise & Plimpton
                    875 Third Avenue
                    New York, NY 10022
                    Attention: David A. Brittenham
                    Facsimile: 212-909-6347

or such other address or telecopier number as such party may hereafter specify
for the purpose by notice to the other party hereto.  Each such notice, request
or other communication shall be effective (i) if given by facsimile, when such
                                           -
facsimile is transmitted to the facsimile number specified in this Section 3.2
and a confirmation is received or (ii) if given by any other means, when
                                   --
delivered at the address specified in this Section 3.2.

     3.3.  Amendments; No Waivers.   Any provision of this Agreement may be
           ----------------------
amended or waived if, and only if, such amendment or waiver is in writing and
signed, in the case of an amendment, by the Requisite Holders and
<PAGE>

the Company, or in the case of a waiver, by the party against whom the waiver is
to be effective.

     (a)   No failure or delay by any party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof nor shall any single or
partial exercise thereof preclude any other or further exercise thereof or the
exercise of any other right, power or privilege.  The rights and remedies herein
provided shall be cumulative and not exclusive of any rights or remedies
provided by law.

     3.4.  Specific Performance.  The Company acknowledges and agrees that the
           --------------------
remedies at law of the Holders for a breach or threatened breach of any of the
provisions of this Agreement would be inadequate and, in recognition of that
fact, agrees that, in the event of a breach or threatened breach by the Company
of the provisions of this Agreement, in addition to any remedies at law, any
Holder, without posting any bond, shall be entitled to obtain equitable relief
in the form of specific performance, a temporary restraining order, a temporary
or permanent injunction or any other equitable remedy which may then be
available without proving that such Holder's remedies at law are inadequate.

     3.5.  Successors and Assigns.  The provisions of this Agreement shall be
           ----------------------
binding upon and inure to the benefit of the parties hereto and their respective
successors and permitted assigns.  In addition, and whether or not any express
assignment shall have been made, the provisions of this Agreement which are for
the benefit of the holders of Warrants or Applicable Stock (or any portion
thereof) shall be for the benefit of and enforceable by any subsequent holder of
any Warrant or Applicable Stock (or of such portion thereof), provided, that
                                                              --------
such subsequent holder is a permitted transferee of Warrants or Applicable Stock
pursuant to the Investment Agreement and the Warrant Agreement.

     3.6.  Governing Law.  This Agreement shall be construed in accordance with
           -------------
and governed by the law of the State of New York.

     3.7.  Counterparts.  This Agreement may be signed in any number of
           ------------
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first above written.

                                        EXIDE CORPORATION

                                        By: /s/ David H. Kelly
                                        Name: David H. Kelly
                                        Title: Vice President and Treasurer
<PAGE>

The foregoing is hereby
agreed to as of the
date hereof:

     [INITIAL INVESTORS]

     By: /s/ illegible
     Name:
     Title:

(Signature page to the Registration Rights Agreement dated as of September 29,
2000, among Exide Corporation and the Initial Investors party thereto)<PAGE>

                                                                     EXHIBIT 4.5

                 REGISTRATION RIGHTS AND STANDSTILL AGREEMENT
                 --------------------------------------------

     This REGISTRATION RIGHTS AND STANDSTILL AGREEMENT is effective as of
September 29, 2000 among Exide Corporation, a Delaware corporation (the
"Company"), and Pacific Dunlop Holdings (USA), Inc., a Delaware corporation
 -------
("PDH").
  ---

     WHEREAS, PDH owns, as of the date hereof, Four Million (4,000,000) shares
of the outstanding common stock, par value $.01 per share, of the Company (the
"Common Stock"); and
-------------

     WHEREAS, PDH and the Company desire to establish certain terms and
conditions concerning the disposition of securities of the Company by PDH and
its Affiliates (as defined herein) after the date hereof;

     NOW, THEREFORE, in consideration of the foregoing and the mutual promises
and agreements contained herein, PDH and the Company agree as follows:

                                  ARTICLE 1.

                                  DEFINITIONS

     ARTICLE 1.1  Definitions.
                  -----------

     (a)  "Affiliate" has the meaning defined in Rule 12b-2 promulgated under
           ---------
the Securities Exchange Act of 1934, as amended (such Act, including the rules
and regulations promulgated thereunder, the "1934 Act").
                                             --------

     (b)  "Applicable Stock" means, at any time, the (i) shares of Common Stock
           ----------------
owned by PDH and its Affiliates, plus (ii) shares of Common Stock that are
issued to PDH and its Affiliates in respect of shares described in clause (i) of
this Section 1.1(b) in any reclassification, share combination, share
     --------------
subdivision, share dividend, share exchange, merger, consolidation or similar
transaction or event that are owned by PDH and its Affiliates.

     (c)  "Beneficial Ownership" has the meaning defined in Rule 13d-3
           --------------------
promulgated under the 1934 Act.

     (d)  "Closing" means the date the acquisition of Pacific Dunlop GNB
           -------
Corporation by the Company is consummated.

     (e)  "Code" means the Internal Revenue Code of 1986, as amended.
           ----

"Equity Security" means any (i) voting stock of the Company (other than shares
 ---------------
of voting stock not having the right to vote generally in any election of
directors of the Company or any of its
<PAGE>

subsidiaries), (ii) securities of the Company convertible into or exchangeable
for such stock, and (iii) options, rights and warrants issued by the Company to
acquire such stock.

     (f)  "Person" means any individual, partnership, joint venture,
           ------
corporation, trust, unincorporated organization, limited liability company, or
other entity or organization.

     (g)  "Subsidiary" means a corporation with respect to which PDH owns
           ----------
directly or indirectly more than 50% of the equity securities having ordinary
voting power for the election of directors of such corporation.

                                  ARTICLE 2.

                              REGISTRATION RIGHTS

     ARTICLE 2.1  Demand Registration.  For purposes of this Article 2, the term
                  -------------------                        ---------
"PDH" shall include any Affiliates of PDH that may from time to time own or
sell, as the case may be, shares of Common Stock.

     (a)  Demand Rights.  The Company agrees that, so long as PDH has Beneficial
          -------------
Ownership of five percent (5%) or more of the outstanding Common Stock, upon the
request of PDH it will file up to two registration statements (each a
"Registration Statement") with the Securities and Exchange Commission ("SEC")
 ----------------------                                                 ---
under the Securities Act of 1933, as amended (the "1933 Act") for sale in an
                                                   ---- ---
underwritten public offering the number of shares of Common Stock specified in
such request (the "Registered Shares"). Notwithstanding the foregoing, the
                   -----------------
Company shall not be obligated to file a registration statement relating to any
registration request under this Section 2.1: (A) unless the request by PDH for
                                -----------
such registration covers at least two percent (2%) of the outstanding Common
Stock, or (B) with respect to more than an aggregate of two (2) registrations
under this Section 2.1.
           -----------

        (i)  Withdrawn Requests.  Except as otherwise provided herein, any
             ------------------
request by PDH for registration pursuant to this Section 2.1 which is
                                                 -----------
subsequently withdrawn prior to the Registration Statement becoming effective
and the offering of shares thereunder having closed shall not constitute a
registration for purposes of determining the number of registrations to which
PDH is entitled pursuant to Section 2.1(a)(i)(B); provided, however, that PDH
                            --------------------
shall reimburse the Company for all out-of-pocket expenses incurred, including
reasonable fees and expenses of the Company's attorneys, accountants and
investment bankers, in connection with the preparation and filing, if filed, of
such Registration Statement. Notwithstanding the foregoing, if PDH withdraws its
request pursuant to this Section 2.1 because the Company's obligations were
                         -----------
suspended under Section 2.1(a)(iii), (A) the request for registration shall not
                        -----------
constitute a registration for purposes of Section 2.1(a)(i)(B) and (B) the
                                          --------------------
Company shall pay the expenses referred to in Section 2.6(a) and (b).
                                              ----------------------

        (ii)   Suspension of Company's Obligations.  The Company's obligations
               -----------------------------------
pursuant to Section 2.1 shall be suspended if:  (A) the fulfillment of such
            -----------
obligations would require the Company to make a disclosure that would, in the
reasonable good faith judgment of the Company's board of directors, be
detrimental to the Company and premature; (B) the Company having filed a
registration statement with respect to Equity Securities to be distributed in an
underwritten public offering, is advised by its lead or managing underwriter
that an offering by PDH of the Registered

                                       2
<PAGE>

Shares would adversely affect the distribution of such Equity Securities; (C)
the Company has closed an underwritten offering of Equity Securities; or (D) the
board of directors of the Company shall determine in good faith that such an
offering will interfere with a pending or contemplated financing, merger, sale
of assets, recapitalization or other similar corporate action of the Company and
the Company shall have furnished to PDH an officers' certificate to that effect.
Such obligations shall be reinstated, unless PDH shall have given the Company
notice of withdrawal pursuant to Section 2.1(a)(ii): (x) in the case of clause
                                 -------------------
(A) above, upon the making of such disclosure by the Company (or, if earlier,
when such disclosure would either no longer be necessary for the fulfillment of
such obligations or no longer be detrimental); (y) in the case of clauses (B)
and (C) above, six (6) months after the closing of the underwritten equity
offering; and (z) in the case of clause (D) above, not more than one hundred
eighty (180) days from the date of PDH's request under Section 2.1(a).
                                                       --------------

        (iii)  Priority in Demand Registrations.  Subject to the last sentence
               --------------------------------
of this Section 2.1(a)(iv) and to the priority allocation provisions of this
        ------------------
Section 2.1(a)(iv), if a registration requested pursuant to Section 2.1 involves
------------------                                          -----------
an underwritten offering, the Company may elect to sell securities pursuant to
such registration statement.  If the Company does elect to sell securities
pursuant to such registration statement and the managing underwriter advises the
Company in writing that, in its opinion, the number of securities requested to
be included in such registration (including securities of the Company or any
Person to which PDH has consented as described in the last sentence of this
Section 2.1(a)(iv) which are not Registered Shares) exceeds the number which can
------------------
be sold in such offering without having an adverse effect on such offering as
contemplated by PDH (including the price at which PDH proposes to sell such
Registered Shares), then the Company will (subject to the last sentence of this
Section 2.1(a)(iv)) include in such registration:  (A) first, all of the
------------------
Registered Shares requested to be included in such registration by PDH, and (B)
second  that number of securities of the Company which are not Registered Shares
which, in the opinion of the managing underwriter, can be sold without having
the adverse effect referred to above.  In the event that the number of
Registered Shares requested to be included in such registration exceeds the
number which, in the opinion of such managing underwriters, can be sold, the
number of such Registered Shares included in such registration shall be
allocated among PDH and its Affiliates as they agree.  Notwithstanding anything
to the contrary contained herein, neither the Company nor any other Person
(other than the holders of the 1,286,000 warrants issued by the Company in
connection with its debt financing on the date hereof and/or shares of common
stock or other securities issued on exercise of such warrants) may include any
securities in any registration pursuant to this Section 2.1 without the prior
                                                -----------
written consent of PDH.

          (iv)   Selection of Underwriters.  PDH shall have the right to
                 -------------------------
designate the managing underwriters, which shall be reasonably satisfactory to
the Company, for any public offering of Registered Shares made pursuant to this
Section 2.1.
-----------

     (b)  Company Obligations.  The Company agrees to (i) use its reasonable
          -------------------
efforts to have any registration of the Registered Shares made pursuant to this
Section 2.1 declared effective as promptly as practicable after the filing of
-----------
the Registration Statement, and (ii) keep such Registration Statement effective
for a period sufficient to complete the distribution of the Registered Shares.
The Company

                                       3
<PAGE>

further agrees to supplement or make amendments to the Registration Statement,
if required by (x) the registration form utilized by the Company for such
registration or by the instructions applicable to such registration form, (y)
the 1933 Act or the rules and regulations thereunder or (z) PDH (or any
underwriter selected by PDH) with respect to information concerning PDH or such
underwriter or the plan of distribution to be utilized with respect to the
Registered Shares.

     ARTICLE 2.2.  Incidental Registration.
                   -----------------------

     (a)  If the Company shall at any time propose to file a registration
statement under the 1933 Act for an offering of Equity Securities of the Company
for cash (other than an offering relating to (i) a business combination that is
to be filed on Form S-4 under the 1933 Act (or any successor form thereto) or
(ii) any employee benefit plan, including, without limitation a stock option or
stock purchase plan), the Company shall provide prompt written notice of such
proposal to PDH of its intention to do so and of PDH's rights under this Section
                                                                         -------
2.2 and shall include in such registration statement such number of shares of
---
Common Stock which PDH has requested the Company to register (the "Incidental
                                                                   ----------
Registered Shares"), which request shall be made to the Company within twenty
-----------------
(20) days after PDH receives notice from the Company of such proposed
registration. Notwithstanding the foregoing: (A) PDH must elect to include a
number of shares equal to not less than two percent (2%) of the outstanding
Common Stock in the first registration statement in which PDH elects to include
shares of Common Stock pursuant to this Section 2.2; (B) if, at any time after
                                        -----------
giving written notice of its intention to register any securities and prior to
the effective date of the registration statement filed in connection with such
registration, the Company shall determine for any reason not to register such
securities, the Company may, at its election, give written notice of such
determination to PDH and, thereupon, shall be relieved of its obligation to
register the Incidental Registered Shares in connection with such registration
(provided, however, that the Company shall pay the expenses referred to in
Section 2.6(b) incurred in connection therewith); (C) if such registration
--------------
involves an underwritten offering, PDH must sell all Incidental Registered
Shares to the underwriters selected by the Company on the same terms and
conditions as those that apply to the Company, with such differences, including
any with respect to indemnification and liability insurance, as may be customary
in combined primary and secondary offerings; and (D) if the Company files a
secondary shelf registration for resales by a holder or holders of Common Stock,
then PDH may only include Incidental Registered Shares therein if it agrees to
the same provisions, if any, as the Company and such holder or holders may have
agreed upon regarding the suspension of sales under such registration upon the
existence of circumstances similar to those described in Section 2.1(a)(iii). If
                                                         -------------------
a registration requested pursuant to this Section 2.2 involves an underwritten
                                          -----------
public offering, the Board of Directors of PDH in the exercise of their
fiduciary duty may elect, in writing prior to the distribution of preliminary
prospectuses in connection with such registration statement, not to register
such securities in connection with such offering.

          (b)  Priority in Incidental Registrations. If a registration pursuant
               ------------------------------------
to Section 2.2 involves an underwritten offering and the managing underwriter
   -----------
advises the Company in writing that, in its opinion, the number of securities to
be included in such registration including the Incidental Registered Shares
exceeds the number which can be sold in such offering without having an adverse
effect on such offering as contemplated by the Company (including the price at
which the Company proposes to sell such securities), then all shares otherwise
to be sold by the Company, PDH, and any entitled Person desiring to register
shares in such offering will be reduced in such registration or

                                       4
<PAGE>

offering in proportion to the shares that the respective parties would otherwise
have registered or offered. Notwithstanding the previous sentence, (i) in the
first offering by PDH of Incidental Registered Shares, if such offering takes
place within two years from the Closing, the Company's shares may be sold first
in their entirety, even to the complete exclusion of Incidental Registered
Shares, and (ii) in an offering of securities to be sold by the holders of the
1,286,000 warrants issued by the Company in connection with its debt financing
on the date hereof and/or shares of common stock or other securities issued on
exercise of such warrants pursuant to such holders' right to demand registration
under the registration rights agreement of the Company for the benefit of such
holders dated on or about the date hereof, such holders shall have priority over
PDH such that any reduction in the number of securities offered shall first be
made to the number of securities to be sold by PDH before any reduction in the
number of securities to be sold by such holders. In the event of a cutback to
PDH that would result in less than 50,000 Incidental Registered Shares being
offered, PDH may elect, in its sole discretion, not to register or offer any
Incidental Registered Shares in such offering. In such event, PDH will not be
responsible for any expenses referred to in Section 2.6(b) in connection with
                                            --------------
such offering.

     (c)  Limitation with Respect to Incidental Registrations. If any
          ---------------------------------------------------
registration shall be made in connection with an underwritten public offering
pursuant to this Section 2.2, then PDH shall not effect any public sale or
                 -----------
distribution of any Common Stock (except as part of such public offering) during
the one hundred eighty (180) day period beginning on the effective date of such
registration, if, and to the extent that, the managing underwriter(s) of any
such offering determine(s) that such action is necessary or desirable to effect
such offering; provided, that PDH has received the written notice required by
Section 2.2(a). Notwithstanding the foregoing, PDH shall not be obligated to
--------------
comply with the restrictions of this subsection as a result of an underwritten
public offering subject to this Section 2.2 more than once in any twelve (12)
                                -----------
month period.

     ARTICLE 2.3.  Additional Rights. If the Company at any time grants any
                   -----------------
other holders of Equity Securities any rights to request the Company to effect
the registration of any such Equity Securities on terms more favorable to such
holders than the terms set forth in this Agreement, this Agreement shall be
deemed amended or supplemented to the extent necessary to provide PDH such more
favorable rights and benefits.

     ARTICLE 2.4.  Registration Procedures. Subject to the provisions of
                   -----------------------
Sections 2.1 and 2.2 of this Agreement, in connection with the registration of
------------     ---
shares of Common Stock hereunder, the Company shall as promptly as possible:

     (a)  Furnish to PDH, prior to the filing of any registration statement or a
supplement or amendment thereto, copies of such registration statement,
supplement, or amendment as is proposed to be filed, and thereafter such number
of copies of such registration statement, supplement, or amendment (in each case
including all exhibits thereto), the prospectus included in such registration
statement (including each preliminary prospectus) and such other documents in
such quantities as

                                       5
<PAGE>

PDH may reasonably request from time to time in order to facilitate the
disposition of the Registered Shares or the Incidental Registered Shares, as the
case may be;

     (b)  Use all reasonable efforts to register or qualify the Registered
Shares or the Incidental Registered Shares, as the case may be, under such other
securities or blue sky laws of such jurisdiction as PDH reasonably requests and
do any and all other acts and things as may be reasonably necessary or advisable
to enable PDH to consummate the disposition in such jurisdictions of the
Registered Shares or the Incidental Registered Shares, as the case may be;
provided that the Company will not be required to (i) qualify generally to do
business in any jurisdiction where it would not otherwise be required to qualify
but for this Section 2.4(b), or (ii) subject itself to taxation in any such
             --------------
jurisdiction;

     (c)  Use all reasonable efforts to cause the Registered Shares or the
Incidental Registered Shares, as the case may be, to be registered with or
approved by such other governmental agencies or authorities as may be necessary
by virtue of the business and operations of the Company to enable PDH to
consummate the disposition of such shares;

     (d)  Notify PDH, at any time when a prospectus relating to such
registration is required to be delivered under the 1933 Act, of the happening of
any event as a result of which the prospectus included in a registration
statement or a supplement or amendment contains an untrue statement of a
material fact or omits to state any material fact required to be stated therein
or necessary to make the statements therein not misleading, and the Company will
prepare a supplement or amendment to such prospectus, supplement, or amendment
so that, as thereafter delivered to the purchasers of the Registered Shares or
the Incidental Registered Shares, as the case may be, such prospectus,
supplement, or amendment will not contain an untrue statement of a material fact
or omit to state any material fact required to be stated therein or necessary to
make the statements therein not misleading;

     (e)  Enter into customary agreements (including an underwriting agreement
in customary form) and take such other actions as are reasonably required in
order to expedite or facilitate the disposition of the Registered Shares or the
Incidental Registered Shares, as the case may be;

     (f)  Make available for inspection by PDH, any underwriter participating in
any disposition pursuant to such registration, and any attorney, accountant or
other agent retained by PDH or any such underwriter (collectively, the
"Inspectors"), all financial and other records, pertinent corporate documents
 ----------
and properties of the Company (collectively, the "Records") as shall be
                                                  -------
reasonably necessary to enable them to exercise their due diligence
responsibility, and cause the officers, directors and employees of the Company
to supply all information reasonably requested by any such Inspector in
connection with such registration; provided that (i) Records and information
obtained hereunder shall be used by such persons only to exercise their due
diligence responsibility and (ii) Records or information which the Company
determines, in good faith, to be confidential shall not be disclosed by the
Inspectors unless (x) the disclosure of such Records or information is necessary
to avoid or correct a misstatement or omission in a registration statement or
(y) the release of such Records or information is ordered pursuant to a subpoena
or other order from a court or governmental authority of competent jurisdiction.
PDH shall use reasonable efforts, prior to any such disclosure described in (x)
above, to inform the Company that such disclosure is necessary to

                                       6
<PAGE>

avoid or correct a misstatement or omission in a registration statement. PDH
further agrees that it will, upon learning that disclosure of such Records or
information is sought in a court or governmental authority, give notice to the
Company and allow the Company, at the expense of the Company, to undertake
appropriate action to prevent disclosure of the Records or information deemed
confidential;

     (g)  Use all reasonable efforts to obtain a comfort letter from the
independent public accountants for the Company in customary form and covering
such matters of the type customarily covered by comfort letters as PDH
reasonably requests;

     (h)  Otherwise comply with all applicable rules and regulations of the SEC,
and make generally available to its security holders, as soon as reasonably
practicable, an earnings statement covering a period of twelve (12) months,
beginning within three (3) months after the effective date of the registration,
which earnings statement shall satisfy the provisions of Section 11(a) of the
1933 Act and Rule 158 thereunder; and

     (i)  Use all reasonable efforts to cause all Registered Shares or
Incidental Registered Shares, as the case may be to be listed on each securities
exchange on which similar securities issued by the Company are listed.

     ARTICLE 2.5.  Conditions to Offerings.
                   -----------------------

     (a)  The obligations of the Company to take the actions contemplated by
Sections 2.1 and 2.2 with respect to an offering of shares of Common Stock shall
------------     ---
be subject to the condition that PDH shall conform to all applicable
requirements of the 1933 Act and the 1934 Act with respect to the offering and
sale of securities and advise each underwriter, broker or dealer through which
any of the Registered Shares or Incidental Registered Shares, as the case may
be, are offered that such shares are part of a distribution that is subject to
the prospectus delivery requirements of the 1933 Act.

     (b)  The Company may require PDH to furnish to the Company such information
regarding PDH or the distribution of the Registered Shares or Incidental
Registered Shares, as the case may be as the Company may from time to time
reasonably request in writing, in each case only as required by the 1933 Act or
the rules and regulations thereunder or under state securities or blue sky laws.

     (c)  PDH agrees that, upon receipt of any notice from the Company of the
happening of any event of the kind described in Section 2.4(d), PDH will
                                                --------------
forthwith discontinue disposition of Registered Shares or Incidental Registered
Shares, as the case may be, pursuant to the registration covering such shares
until PDH's receipt of the copies of the supplemented or amended prospectus
contemplated by Section 2.4(d).
                --------------

                                       7
<PAGE>

     ARTICLE 2.6.  Registration Expenses.
                   ---------------------

     (a)  The Company shall bear all expenses incident to a registration
pursuant to Sections 2.1 and 2.2, including all fees and expenses of compliance
            ------------     ---
with federal (except as provided in Section 2.6(b) below) or state securities or
                                    --------------
blue sky laws (including reasonable fees and disbursements of counsel in
connection with blue sky qualifications of the Registered Shares and Incidental
Registered Shares), rating agency fees, printing, messenger, delivery and
telephone expenses, the fees and expenses incurred in connection with the
listing of the securities to be registered on each securities exchange on which
similar securities issued by the Company are then listed, fees and disbursements
of counsel for the Company and its independent certified public accountants
(including the expenses of any comfort letters required by or incident to such
performance), securities acts liability insurance (if the Company elects to
obtain such insurance), the reasonable fees and expenses of any special experts
retained by the Company in connection with such registration, and the fees and
expenses of other persons retained by the Company.

     (b)  The Company will have no responsibility for any of the expenses of any
of the holders of Registered Shares or Incidental Registered Shares incurred in
connection with any registration hereunder including federal registration fees
relating to the Registered Shares and Incidental Registered Shares, underwriting
fees, discounts and commissions and transfer taxes, if any, attributable to the
sale of such shares and counsel fees of such holders.

ARTICLE 2.7.  Indemnification; Contribution. The provisions of this Section 2.7
              -----------------------------                         -----------
shall apply in connection with registrations made pursuant to Sections 2.1 and
                                                              ------------
2.2.
---

     (a)  Indemnification by the Company.  The Company agrees to indemnify, to
          ------------------------------
the fullest extent permitted by law, PDH, its directors, officers, employees and
agents and its Affiliates and their respective directors, officers, employees
and agents against any and all losses, claims, damages, liabilities and expenses
(including attorneys' fees) arising out of or based upon any untrue or alleged
untrue statement of material fact contained in any registration statement,
prospectus, any amendment or supplement thereto or preliminary prospectus (each
as amended and or supplemented, if the Company shall have furnished any
amendments or supplements thereto), or any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein (in the case of a prospectus, in the light of the
circumstances under which they were made) not misleading, except insofar as such
untrue statement or omission is made in reliance on and conformity with any
information with respect to PDH furnished to the Company in writing by PDH
expressly for use therein. In connection with an underwritten offering, the
Company will indemnify each underwriter thereof, the officers and directors of
such underwriter, and each Affiliate of each underwriter to the same extent as
provided above with respect to the indemnification of PDH; provided that such
underwriter agrees to indemnify the Company to the same extent as provided below
with respect to the indemnification of the Company by PDH.

     (b)  Indemnification by PDH.  In connection with any registration in which
          ----------------------
PDH is participating, PDH will furnish to the Company in writing such
information and affidavits with respect to PDH as the Company reasonably
requests for use in connection with any such registration statement, prospectus,
or preliminary prospectus and agrees to indemnify the Company, its directors,
its officers who sign any registration statement, and its Affiliates to the same
extent as the foregoing
<PAGE>

indemnity from the Company to PDH, but only with respect to information relating
to PDH furnished to the Company in writing by PDH expressly for use in any
registration statement, prospectus, any amendment or supplement thereto, or any
preliminary prospectus.

     (c)  Conduct of Indemnification Proceedings. In case any proceeding
          --------------------------------------
(including any governmental investigation) shall be instituted involving any
person in respect of which indemnity may be sought pursuant to Section 2.7(a) or
                                                               --------------
Section 2.7(b), such person (hereinafter called the "Indemnified Party") shall
--------------                                       -----------------
promptly notify the person against whom such indemnity may be sought
(hereinafter called the "Indemnifying Party") in writing and the Indemnifying
                         ------------------
Party, upon request of the Indemnified Party, shall retain counsel reasonably
satisfactory to the Indemnified Party to represent the Indemnified Party and any
others the Indemnifying Party may designate in such proceeding and shall pay the
fees and disbursements of such counsel related to such proceeding. In any such
proceeding, any Indemnified Party shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Party unless (i) the Indemnifying Party and the Indemnified
Party shall have mutually agreed to the retention of such counsel or (ii) the
named parties to any such proceeding (including any impleaded parties) include
both the Indemnifying Party and the Indemnified Party and the Indemnified Party
shall have been advised by counsel that representation of both parties by the
same counsel would be inappropriate due to actual or potential differing
interests between them. It is understood that the Indemnifying Party shall not,
in connection with any proceeding or related proceedings in the same
jurisdiction, be liable for the fees and expenses of more than one separate firm
(in addition to any local counsel) for all such Indemnified Parties, and that
all such fees and expenses shall be reimbursed as they are incurred. The
Indemnifying Party shall not be liable for any settlement of any proceeding
effected without its written consent, but if settled with such consent or if
there be a final judgment against the Indemnified Party, the Indemnifying Party
agrees to indemnify the Indemnified Party from and against any loss or liability
by reason of such settlement or judgment. No Indemnifying Party shall, without
the prior written consent of the Indemnified Party, effect any settlement of any
pending or threatened proceeding in respect of which any Indemnified Party is or
could have been a party and indemnity could have been sought hereunder by such
Indemnified Party, unless such settlement includes an unconditional release of
such Indemnified Party from all liability on claims that are the subject matter
of such proceeding.

     (d)  Contribution. If the indemnification provided for in this Section 2.7
          ------------                                              -----------
from the Indemnifying Party is unavailable to an Indemnified Party in respect of
any losses, claims, damages, liabilities or expenses referred to in this Section
                                                                         -------
2.7, then the Indemnifying Party, in lieu of indemnifying such Indemnified
---
Party, shall contribute to the amount paid or payable by such Indemnified Party
as a result of such losses, claims, damages, liabilities or expenses in such
proportion as is appropriate to reflect the relative fault of the Indemnifying
Party and Indemnified Parties in connection with the actions which resulted in
such losses, claims, damages, liabilities or expenses, as well as any other
relevant equitable considerations. The relative fault of such Indemnifying Party
and Indemnified Parties shall be determined by reference to, among other things,
whether any action in question, including any untrue or alleged untrue statement
of a material fact
<PAGE>

or omission or alleged omission to state a material fact, has been made by, or
relates to information supplied by, such Indemnifying Party or Indemnified
Parties, and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such action. The amount paid or payable by a
party as a result of the losses, claims, damages, liabilities and expenses
referred to above shall be deemed to include, subject to the limitations set
forth in Section 2.7(c), any legal or other fees or expenses reasonably incurred
         --------------
by such party in connection with any investigation or proceeding.

          (i)  The parties hereto agree that it would not be just and equitable
if contribution pursuant to this Section 2.7(d) were determined by pro rata
                                 --------------
allocation or by any other method of allocation which does not take into account
the equitable considerations referred to in the immediately preceding paragraph.
No person guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the 1933 Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation.

          (ii) If indemnification is available under this Section 2.7, the
                                                          -----------
Indemnifying Parties shall indemnify each Indemnified Party to the full extent
provided in Sections 2.7(a) and 2.7(b) without regard to the relative fault of
            ---------------     ------
said Indemnifying Party or Indemnified Party or any other equitable
consideration provided for in this Section 2.7(d).
                                   --------------

     ARTICLE 2.8. Rule 144. The Company covenants that it will file the reports
                  --------
required to be filed by it under the 1933 Act and the 1934 Act and the rules and
regulations promulgated thereunder, and it will take such further action as PDH
may reasonably request, all to the extent required from time to time to enable
PDH to sell shares of Common Stock without registration under the 1933 Act
within the limitation of the exemptions provided by (a) Rule 144 under the 1933
Act, as such Rule may be amended from time to time, or (b) any similar rule or
regulation hereafter adopted by the SEC. Upon the request of PDH, the Company
will deliver to PDH a written statement as to whether it has complied with such
requirements.

                                  ARTICLE 3.

                             STANDSTILL PROVISIONS

     ARTICLE 3.1  Application. For purposes of this Article 3, the term "PDH"
                  -----------                       ---------
shall include Subsidiaries of PDH.

     ARTICLE 3.2  Voting Obligations. From and after the Closing until the third
                  ------------------
anniversary of the Closing, PDH shall (i) attend in person or cause the
Applicable Stock to be present by proxy at Company meetings of stockholders, and
(ii) vote the Applicable Stock in the same proportion as all other Common Stock
voted on the matter; provided, however, that the foregoing shall not restrict
PDH's right to vote any Applicable Stock directly or indirectly owned by PDH or
its Affiliates against the removal of any PDH designee to the Company's Board of
Directors.

     ARTICLE 3.3  Limitation on Actions. From and after the Closing and until
                  ---------------------
the third anniversary of the Closing, PDH will not, without the consent of the
Company:
<PAGE>

          (a)  Acquire or publicly state that it wishes to acquire or offer or
     agree to acquire, directly or indirectly, Beneficial Ownership of any
     Equity Security or any right to acquire an Equity Security, except that any
     underlying change in Applicable Stock as described in Section 1.1(b)(ii)
                                                           ------------------
     shall not be considered a violation of this Section 3.3(a);
                                                 --------------

          (b)  Solicit, or assist or encourage any Person to solicit consents or
     proxies to vote Equity Securities or otherwise seek to advise, assist,
     encourage or influence the voting of Equity Securities or proposals by
     shareholders of the Company, except that PDH's voting of the Applicable
     Shares in accordance with the provisions of Section 3.2 hereof shall not be
                                                 -----------
     considered a violation of this Section 3.3(b);
                                    --------------

          (c)  Make proposals to Company directors, officers, employees or
     authorized representatives or publicly regarding any business combination,
     change in control, recapitalization or other extraordinary transaction
     involving the Company or propose any amendment of the Company's charter or
     bylaws or encourage or assist any Person to do so;

          (d)  Form or otherwise become a member of a "group" (as described in
     Rule 13d-5(b)(1) under the 1934 Act) with respect to Equity Securities
     other than a "group" among PDH and its Affiliates;

          (e)  Otherwise act, alone or in concert with any other Person (other
     than the management of the Company in a manner approved by the Company's
     Board of Directors) to seek to exercise any control or to influence the
     exercise of control over the management, Board of Directors, or policies,
     affairs or actions of the Company, subject to PDH's right to vote
     Applicable Stock directly or indirectly owned by it or its Affiliates in
     its discretion (as limited by Section 3.2 hereof);
                                   -----------

          (f)  Take any action that might require the Company to make a public
     announcement of the items contained in Sections 3.3(a)-(e), or
                                            -------------------

          (g)  Publicly disclose any intentions inconsistent with the items
     contained in Sections 3.3(a)-(e).
                  --------------------

     The foregoing will not be deemed to have been breached by any
representative of PDH or its Affiliates solely by performing his/her duties as a
member of the Board of Directors of the Company.

     ARTICLE 3.4.  Restrictions on Transfer. Except for transfers described in
                   ------------------------
Section 3.5, from and after the Closing and until the third anniversary of the
-----------
Closing, PDH will not directly or indirectly dispose of all, or any portion of,
the Applicable Stock without the Company's prior written consent, except that
PDH may dispose of all, or any portion of, the Applicable Stock:

     (a)  in an underwritten registered public offering;

                                      11
<PAGE>

     (b)  pursuant to a tender or exchange offer approved by the Board of
Directors of the Company; or

     (c)  to any Person who after the acquisition of the shares would have
Beneficial Ownership of less than 5% of the Common Stock ("Section 3.4(c)
                                                          ---------------
Person"), provided that PDH shall first offer to sell the Applicable Stock to
the Company. With respect to a proposed disposition of all, or a portion of, the
Applicable Stock under this Section 3.4(c), if the Company wishes to purchase
                            --------------
the Applicable Stock proposed to be sold by PDH, the Company must notify PDH
that it wishes to purchase the subject Applicable Stock from PDH on the same
terms and conditions as the proposed buyer within ten (10) business days of
receipt of PDH's offer to the Company and purchase the stock within twenty (20)
business days of receipt of the offer notice from PDH. If the Company does not
purchase all of the Applicable Stock proposed to be sold to the proposed buyer
within said period, PDH may sell such Applicable Stock to the proposed buyer
within six (6) months on the same terms and conditions as originally proposed.

     ARTICLE 3.5.  Permitted Transfers. At any time and from time to time, PDH
                   -------------------
may transfer or sell Applicable Stock in whole or in part (a) to an Affiliate,
or (b) pursuant to Rule 144 under the 1933 Act or any similar rule or regulation
hereafter adopted by the SEC. In the event of a transfer or sale to an
Affiliate, PDH may also transfer or assign its rights under this Agreement as
long as the Affiliate agrees to be bound by the terms of this Agreement. Such
transfer or assignment by PDH to an Affiliate will not require the consent of
the Company.

                                  ARTICLE 4.

                                 MISCELLANEOUS

     ARTICLE 4.1  No Inconsistent Actions or Agreements. The Company will not
                  -------------------------------------
hereafter enter into any agreement with respect to its securities which is
inconsistent with the rights granted to PDH in this Agreement. The Company
agrees not to take any action which could impede or delay the exercise by PDH of
any of its rights under this Agreement.

     ARTICLE 4.2.  Notices. All notices, requests and other communications to
                   -------
any party hereunder shall be in writing (including telecopy or similar writing)
and shall be given:

                         If to the Company, to:

                         Exide Corporation
                         2901 Hubbard Road
                         Ann Arbor, Michigan 48105
                         Attention: General Counsel
                         Facsimile: 734-827-2575

                         with a copy to:
<PAGE>

                         Kirkland & Ellis
                         200 East Randolph Drive
                         Chicago, Illinois 60601
                         Attention: Carter W. Emerson, P.C.
                         Facsimile: 312-861-2200

                         If to PDH, to:

                         Pacific Dunlop Holdings Inc.
                         6121 Lakeside Drive, Suite 200
                         Reno, Nevada 89511
                         Attention: Stephen C. Geerling
                         Facsimile: 775-824-4626

                         with a copy to:

                         Gardner, Carton & Douglas
                         321 North Clark Street
                         Chicago, Illinois 60610
                         Attention: Robert J. Wilczek
                         Facsimile: 312-644-3381

                                   and

                         Pacific Dunlop Limited
                         Level 3, 678 Victoria Street,
                         Richmond, Victoria, Australia 3121
                         Attention: Secretary
                         Telephone: 011-613-9270-7270
                         Fax: 011-613-9654-4184

or such other address or telecopier number as such party may hereafter specify
for the purpose by notice to the other party hereto.  Each such notice, request
or other communication shall be effective (i) if given by facsimile, when such
facsimile is transmitted to the facsimile number specified in this Section 4.2
                                                                   -----------
and a confirmation is received or (ii) if given by any other means, when
delivered at the address specified in this Section 4.2.
                                           -----------

     ARTICLE 4.3.  Amendments; No Waivers. Any provision of this Agreement may
                   ----------------------
be amended or waived if, and only if, such amendment or waiver is in writing and
signed, in the case of an amendment, by PDH and the Company, or in the case of a
waiver, by the party against whom the waiver is to be effective.

                                      13
<PAGE>

     (a)  No failure or delay by any party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof nor shall any single or
partial exercise thereof preclude any other or further exercise thereof or the
exercise of any other right, power or privilege. The rights and remedies herein
provided shall be cumulative and not exclusive of any rights or remedies
provided by law.

     ARTICLE 4.4.  Specific Performance. The Company acknowledges and agrees
                   --------------------
that PDH's remedies at law for a breach or threatened breach of any of the
provisions of this Agreement would be inadequate and, in recognition of that
fact, agrees that, in the event of a breach or threatened breach by the Company
of the provisions of this Agreement, in addition to any remedies at law, PDH,
without posting any bond, shall be entitled to obtain equitable relief in the
form of specific performance, a temporary restraining order, a temporary or
permanent injunction or any other equitable remedy which may then be available
without proving that PDH's remedies at law are inadequate.

     ARTICLE 4.5.  Successors and Assigns. The provisions of this Agreement
                   ----------------------
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns; provided that no party may assign, delegate
or otherwise transfer any of its rights or obligations under this Agreement
without the consent of the other party hereto except as provided in Section 3.5
                                                                    -----------
and provided herein.

     ARTICLE 4.6.  Governing Law. This Agreement shall be construed in
                   -------------
accordance with and governed by the law of the State of Delaware.

     ARTICLE 4.7.  Counterparts. This Agreement may be signed in any number of
                   ------------
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first above written.

                                        EXIDE CORPORATION

                                        By: /s/ David H. Kelly
                                           -------------------------------------
                                        Name: David H. Kelly
                                             -----------------------------------
                                        Title: Vice President and Treasurer
                                              ----------------------------------

                                        PACIFIC DUNLOP HOLDINGS (USA) INC.

                                        By: /s/ Martin Hudson
                                           -------------------------------------
                                        Name: Martin Hudson
                                             -----------------------------------
                                        Title: Attorney-in-Fact
                                              ----------------------------------

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