Company: LBRDK
Filing Date: 2025-01-17
Form Type: PRER14A
Source: 0001140361-25-001417
Chunk: 329

Company: Liberty Broadband Corp
Filing Date: 2025-01-17
Form: PRER14A
Chunk 329
---
 fixed at 13, and A/N and Liberty Broadband (each, an “ investor party”) have the following board nomination rights (subject to the limitations set forth in the existing stockholders agreement):

| • | three director nominees, if such investor party’s equity interest or voting interest in Charter is greater than or equal to 20%; |

| • | two director nominees, if such investor party’s equity interest and voting interest in Charter are both less than 20% but such investor party’s equity or voting interest is greater than or equal to 15%; |

| • | one director nominee, if such investor party’s equity interest and voting interest in Charter are both less than 15% but such investor party’s equity or voting interest is greater than or equal to 5%; and |

| • | no director nominees if such investor party’s equity interest and voting interest in Charter are both less than 5%; |

provided, A/N will be entitled to nominate two director nominees if it owns an equity or voting interest in Charter of 11% or more. Certain Decisions by the Charter Board The Charter certificate of incorporation provides that:

| • | the Charter Board must act by majority vote of the full board, subject to the following: |

| • | for so long as A/N or Liberty Broadband has a voting or equity interest in Charter equal to or greater than 20%, any change of control of Charter will require the approval of (i) a majority of the full Charter Board and (ii) a majority of the unaffiliated directors (which is defined to mean directors not appointed by A/N or Liberty Broadband); |

| • | any transaction involving either A/N or Liberty Broadband or their respective affiliates or associates and Charter (with limited exceptions) or any transaction in which A/N or Liberty Broadband (or any of their respective affiliates or associates) will be treated differently from the holders of Charter Class A common stock or Charter Class B common stock will require the approval of (i) a majority of the unaffiliated directors plus (ii) a majority of the directors designated by the party without such a conflicting interest; however, the approval requirement in this clause (ii) will not apply to ordinary course programming and distribution agreements and related ancillary agreements entered into on an arms’ length basis; and |

| • | any amendment to the Charter certificate of incorporation, including the filing of a certificate of designations relating to the issuance of preferred stock, will require the approval of (i) a majority of the full