Broadcast Electronics, Inc.

• Client: Broadcast Electronics, Inc.
• Date: November 2008
• Location: Quincy, Illinois

Summary:

Broadcast Electronics, Inc. ("BEI") recently completed a restructuring of its senior debt and recapitalization of its equity ownership. BEI, headquartered in Quincy, Illinois, is the worldwide market leader in providing innovative broadcast equipment and studio software solutions for terrestrial HD and analog radio and Internet streaming markets.

Schiff Hardin represented the CEO and eight-person senior management team in negotiating and implementing an array of new employment and severance protections, intermediate retention and performance incentives, and long-term equity incentives, to ensure management team continuity and company success.

Our Private Companies group handled the negotiations and strategy with the client, consulting with attorneys in our Tax group on issues relating to the equity recapitalization. Our Employee Benefits and Executive Compensation group advised on executive compensation and ERISA issues, and our Finance group provided advice on working with the secured lenders. This is an example of the type of integrated approach our Private Companies group brings to bear for our clients throughout the middle market, providing expertise from a variety of disciplines, delivered efficiently, coherently, and focused on results.