Recapitalization Term SheetRecapitalization Term Sheet • February 10th, 2010 • Crown Media Holdings Inc • Cable & other pay television services
This Recapitalization Term Sheet (this “Term Sheet”), dated February 9, 2010, between the special committee of Crown’s Board of Directors and H C Crown Corp., represents the non-binding terms of a recapitalization transaction (the “Recapitalization”) in respect of Crown Media Holdings, Inc. (“Crown”). This Term Sheet is subject to completion of financial, legal, tax and business due diligence, the execution of definitive documentation, and the procurement of all requisite consents and approvals relating to the transactions contemplated by the Recapitalization. Final documentation of such transactions may contain terms and provisions that are different from, or in addition to, the terms and provisions set forth herein.
Recapitalization Term SheetRecapitalization Term Sheet • February 10th, 2010 • Crown Media Holdings Inc • Cable & other pay television services
Registrable Securities: The shares of Common Stock (i) issued to the former holders of Hallmark Entertainment Investments Co. (“HEIC”) in connection with the Merger of HEIC with and into Crown and (ii) issuable to Hallmark upon the conversion of the HCC Debt and upon conversion of the Convertible Preferred Stock.
