In accordance with the terms of the Plan , the holders of the Company 's ( i ) 8.75 % Senior Notes due 2010 , ( ii ) 9.75 % Senior Unsecured Notes due 2014 and ( iii ) Senior Floating Notes due 2013 collectively will receive their pro rata share of 95 % of the outstanding common stock in the reorganized Company upon its emergence from bankruptcy , and the existing stockholders in the Company will receive the remaining 5 % , in each case prior to any issuance of shares or options under customary employee incentive arrangements . Under the Plan , EPL will issue a total of 40 million shares of reorganized EPL common stock .