Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 271

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 271
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 under their respective organizational documents and under any indemnification agreements, in each case, in effect on the date of the merger agreement, for the benefit of (x) any of Liberty Broadband’s or its subsidiaries’ current or former directors and officers and any person who becomes a director or officer of Liberty Broadband or its subsidiaries prior to the completion of the combination or (y) any person serving or who prior to the effective time has served on the board of directors or board of managers (or similar governing body) of another person, or as an officer, employee or agent of another person, at the request of Liberty Broadband or its subsidiaries, in each case, in such individual’s capacity as such. Charter will be entitled to the benefit of the same express limitations on such obligations as the surviving corporation and the surviving company under such organization documents, indemnification agreements and applicable law. In addition, Charter will cause the organizational documents of the surviving company in the combination and its subsidiaries to contain provisions with respect to indemnification, advancement of expenses and exculpation that are no less advantageous to such indemnified persons than the corresponding provisions in the organizational documents of Liberty Broadband or its subsidiaries, as applicable, as in effect immediately prior to the effective time, and will not cause such provisions to be amended, repealed or modified.

Prior to or at the effective time, Liberty Broadband will purchase (or, if Liberty Broadband is unable to do so, at the effective time, Charter will cause to be purchased and fully paid) a 6-year prepaid, non-cancellable “tail” policy covering each individual covered by Liberty Broadband’s existing fiduciary liability insurance policies, for a claims reporting or discovery period of at least six years after the effective time, with respect to any acts or omissions prior to, or any claim related to any period of time at or prior to, the effective time, from an insurance carrier with the same or better credit rating as Liberty Broadband’s current insurance carrier with respect to such policies and with terms, conditions, retentions and limits of liability no less favorable to the intended beneficiaries than the coverage provided under such policies; provided, that, the cost of such “tail” policy will not exceed 300% of the last annual premium paid by Liberty Broadband for such policies. If the cost of such “tail” policy exceeds such threshold, then the obligation under this provision will be to obtain a “tail” policy with the greatest coverage available, from an insurance carrier with the same or better credit rating as