Typical charging curve:
From Batter Tender:
Stage 3) Equalization Charge Mode: The equalization charge mode is optional and usually only included at the request of a specific battery manufacturer. At this time the battery is approximately 95% recharged. To speed up the delivery of the last 5% of the recharge, one of two things usually happen.
1) The charger switches over to a true constant current mode where the value of the charge current is a small percentage, usually never more than 20%, and typically in the 5% to 10% range, of the numerical value of the battery’s 10 or 20-hour capacity in amp-hours. Since the charger circuitry does not have the ability to directly sense the battery capacity, these relative percentages will only be true for a specific range of battery capacities. There is also a safety timer engaged and there is often a safety voltage limit, a “lid” or “ceiling” that performs an automatic shutoff or switch to stage 4) if the battery voltage attempts to rise higher than the safety limit. In either case, the higher constant voltage, or the lower true constant current perform a similar recharge function. That is to safely replenish the last 5% of the battery’s charge, in a minimum amount of time.
2) The charger voltage is set high, maybe 3 to 4 volts above the battery no load fully charged voltage with a safety timer. The battery then draws current until the timer shuts off. The reaction of the battery during this time is first to force the charger to deliver its maximum current. Then the amplitude of the charger current gradually decreases until the timer forces the charger to switch to the next charging mode. It’s almost like repeating the bulk and absorption charge modes together in a compressed time frame, with different voltage limits.
http://batterytender.com/resources/battery-basics.htm/#answer9
From West Marine:
Equalization Stage: this stage is used to prevent flooded lead acid batteries from aging prematurely, and is an optional, frequently omitted phase. After the battery reaches the end of the acceptance phase, the battery continues to be charged at four percent of C until the voltage stops rising,
usually around 15.5 to 16.2 volts. This forces the battery to its highest possible state of charge, boiling the electrolyte in a controlled manner and dissolving the lead sulfate crystals that have collected on the battery’s plates. In industrial applications where maximum energy storage is important, this phase is done every charge cycle. In the marine environment, it is more likely to be done every 20-50 cycles to extend the life and capacity of wet batteries. Gel and AGM batteries should not be equalized. Since electrical equipment and light bulbs can be damaged by high voltage,
the battery should be disconnected from all loads during equalization. This type of battery charging, consisting of multiple stages, is not possible with automotive-type alternator regulators, unregulated solar panels, ferroresonant chargers, or taffrail generators. West Marine strongly encourages the use of efficient charge devices, both for shorepower charging and alternator regulation, that use modern multiple-step regulation.