Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 276

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 276
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 restrictions set forth in do not apply to such employee due to the applicability of the exclusions set forth in either
or , and () such employee is then hired by a Company Group Member or SpinCo Group Member, respectively, then, to the extent administratively
feasible, and to the extent provided for and subject to the same limitations and exclusions set forth in the preceding sentence, the Company or SpinCo (as applicable) shall give such employee credit for such employee’s prior service with the
SpinCo Group or the Company Group (as applicable).

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Section 3.4 . The Parties hereto agree that none of the
Transactions constitutes a “change in control,” “change of control” or similar term, as applicable, within the meaning of any Company Plan or SpinCo Plan.

Section 3.5 . The Company and SpinCo each acknowledge and agree, in
light of the significant time and attention they have invested to determine which individuals should continue their employment as Company Group Employees and which individuals should continue their employment as SpinCo Group Employees, which is
directly related to ensuring that each Party retains the employees necessary to conduct their respective businesses and fulfill their respective obligations under the Transition Services Agreement following the Distribution Effective Time, that they
will be bound by the restrictions on the solicitation of the other Party’s employees set forth in this for the Relevant Territories.

(a) Non-Solicitation. To the fullest extent permitted by applicable Law, and subject to
, each of the Company and SpinCo agrees that, for a period of twelve (12) months from the Distribution Effective Time or, if longer, during the Applicable TSA Period: () the Company shall
not, and shall cause each Company Group Member to not, solicit for employment any individual who is a SpinCo Group Employee immediately prior to the Distribution Effective Time in the Relevant Territories and () SpinCo shall not, and
shall cause each SpinCo Group Member to not, solicit for employment any individual who is a Company Group Employee immediately prior to the Distribution Effective Time in the Relevant Territories (each employee covered by clause (i) or (ii), a
“”).

(b) Excluded Employees. The restrictions set forth in
shall not apply to any SpinCo Group Employee or Company Group Employee, as applicable, () who responds to general solicitations not targeted at the Restricted Employees, () whose
employment was involuntarily terminated by the employing Party in a severance-qualifying termination before the employment-related discussions with the soliciting Party commenced