  We outline a model of the Crab Pulsar Wind Nebula with two different
populations of synchrotron emitting particles, arising from two different
acceleration mechanisms: (i) Component-I due to Fermi-I acceleration at the
equatorial portion of the termination shock, with particle spectral index $p_I
\approx 2.2$ above the injection break corresponding to $\gamma_{wind}
\sigma_{wind} \sim 10^5$, peaking in the UV ($\gamma_{wind} \sim 10^2$ is the
bulk Lorentz factor of the wind, $\sigma _{wind} \sim 10^3$ is wind
magnetization); (ii) Component-II due to acceleration at reconnection layers in
the bulk of the turbulent Nebula, with particle index $p_{II} \approx 1.6$. The
model requires relatively slow but highly magnetized wind. For both components
the overall cooling break is in the infra-red at $\sim 0.01$ eV, so that the
Component-I is in the fast cooling regime (cooling frequency below the peak
frequency). In the optical band Component-I produces emission with the cooling
spectral index of $\alpha_o \approx 0.5$, softening towards the edges due to
radiative losses. Above the cooling break, in the optical, UV and X-rays,
Component-I mostly overwhelms Component-II. We hypothesize that acceleration at
large-scale current sheets in the turbulent nebula (Component-II) extends to
the synchrotron burn-off limit of $\epsilon_s \approx 100$ MeV. Thus in our
model acceleration in turbulent reconnection (Component-II) can produce both
hard radio spectra and occasional gamma-ray flares. This model may be
applicable to a broader class of high energy astrophysical objects, like AGNe
and GRB jets, where often radio electrons form a different population from the
high energy electrons.
