Company: LBRDK
Filing Date: 2025-01-17
Form Type: PRER14A
Source: 0001140361-25-001417
Chunk: 259

Company: Liberty Broadband Corp
Filing Date: 2025-01-17
Form: PRER14A
Chunk 259
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 such action referred to as a “company adverse recommendation change”); or |

| • | approve or recommend, or publicly propose to approve or recommend, or allow Liberty Broadband or any of its subsidiaries to execute or enter into, any letter of intent, memorandum of understanding, agreement in principle, merger agreement, acquisition agreement, option agreement, joint venture agreement, partnership agreement or other similar agreement, arrangement or understanding (1) constituting, or providing for, any alternative company transaction proposal or (2) requiring it (or that would require it) to abandon, terminate or fail to consummate the merger. |

A “ superior company proposal” refers to a bona fide written alternative company transaction proposal which the Liberty Broadband Board determines in good faith (after consultation with its outside legal counsel and financial advisor), taking into account all legal, financial, tax, regulatory, timing and other aspects of the proposal and the identity of the person making the proposal, (1) is reasonably likely to be consummated on the terms proposed, (2) is more favorable from a financial point of view to Liberty Broadband, Liberty Broadband’s stockholders and the Liberty Broadband Disinterested Stockholders than the terms of the merger and the other transactions contemplated by the merger agreement and (3) is otherwise on terms that the Liberty Broadband Board has determined to be superior to the transactions contemplated by the merger agreement; except that for purposes of this definition, the term “alternative company transaction proposal” shall have the meaning ascribed to such term in the merger agreement, except that each reference to 25% in the definition of alternative company transaction when used in the definition of alternative company transaction proposal is replaced with a reference to 80%.

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A “ company intervening event” refers to any material fact, event, change, development or circumstance that (1) was not known or reasonably foreseeable (or, if known, the consequences or magnitude of which were not known or reasonably foreseeable) by the Liberty Broadband Board as of the date of the merger agreement, which material fact, event, change, development or circumstance (or consequences or magnitude of which) becomes known to the Liberty Broadband Board prior to the receipt of the required Liberty Broadband stockholder approvals and that affects, or would reasonably be likely to affect, in a material manner the business, assets, properties, liabilities, results of operations or condition (financial or otherwise) of Liberty Broadband and its subsidiaries, taken as a whole, and (2) does not relate to