Amendment to Employment Agreement between Crown Media Holdings, Inc. and William J. Abbott

Summary

Crown Media Holdings, Inc. and William J. Abbott have agreed to amend Abbott's employment agreement. The amendment extends his employment term until December 31, 2016, updates a contract reference to reflect the new end date, and increases his base salary to $872,000 per year effective March 1, 2015, with specified bonus and long-term incentive targets. All other terms of the original agreement remain unchanged.

EX-10.51 2 a2223120zex-10_51.htm EX-10.51
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Exhibit 10.51

Crown Media Holdings, Inc.

February 18, 2015

Mr. William J. Abbott

Re: Employment Agreement Amendment

Dear Mr. Abbott:

This will confirm our agreement to amend your employment agreement with Crown Media Holdings, Inc. ("Crown") dated May 7, 2009, as subsequently amended (the "Agreement"), as follows:

1.: The term of the Agreement and your employment by Crown as set out in Paragraph 2 of the Agreement, is extended until December 31, 2016, unless otherwise terminated in accordance with the terms of the Agreement.
2.: Section 8(a)(iii) shall be amended by replacing "December 31, 2011" with "December 31, 2016, or such other date to which the Term is extended by amendment or automatic renewal."
3.: Effective as of March 1, 2015, your base salary as set forth in Paragraph 3(a) shall be Eight Hundred Seventy Two Thousand ($872,000) per year, with an Annual Bonus Target of 80% of base salary and an LTIP Target of 85% of base salary.

Except as amended herein, all other terms of the Agreement will remain in full force and effect.


		Very truly yours, Crown Media Holdings, Inc.
		By:		/s/ DONALD J. HALL, JR. Donald J. Hall, Jr. Co-Chairman of the Board

Agreed and Accepted:


/s/ WILLIAM J. ABBOTT William J. Abbott

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Crown Media Holdings, Inc.