Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 291

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 291
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 except as otherwise provided herein, it shall have full
responsibility with respect to any Liabilities and the payment or performance of any obligations arising out of or relating to any employment, separation, severance, consulting, non-competition, retention or
other compensatory arrangement previously provided by any member of the SpinCo Group or Company Group to any SpinCo Participant. As of the Distribution Date, SpinCo shall, or shall cause a SpinCo Group Member to, take any actions necessary to
expressly assume any individual agreements (or obligations thereunder) with SpinCo Group Employees that are SpinCo Employee Liabilities.

(b) Company Individual Arrangements. The Company acknowledges and agrees that, except as otherwise provided herein, it shall have full
responsibility with respect to any Liabilities and the payment or performance of any obligations arising out of or relating to any employment, separation, severance, consulting, non-competition, retention or
other compensatory arrangement previously provided by any member of the SpinCo Group or Company Group to any Company Participant. As of the Distribution Date, the Company shall, or shall cause a Company Group Member to, take any actions necessary to
expressly assume any individual agreements (or obligations thereunder) with Company Group Employees that are Company Employee Liabilities.

(c) Restrictive Covenants in Employment and OtherAgreements. Effective on the Distribution Date, to the extent permitted by
applicable Law: (i) SpinCo shall be considered to be a third-party beneficiary with respect to all agreements containing restrictive covenants (including confidentiality, non-competition and non-solicitation provisions) between a Company Group Member and a SpinCo Group Employee or a Former SpinCo Group Employee, such that SpinCo shall enjoy all the rights and benefits, in addition to the Company, under
such agreements (including rights and benefits as a third-party beneficiary), with respect to the SpinCo Business; and (ii) the Company shall be considered to be a third-party beneficiary with respect to all agreements containing restrictive
covenants (including

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confidentiality, non-competition and non-solicitation provisions) between a SpinCo Group Member and a Company Group
Employee or a Former Company Group Employee, such that the Company shall enjoy all the rights and benefits, in addition to SpinCo, under such agreements (including rights and benefits as a third-party beneficiary), with respect to the Company
Business. Following the Distribution Date, the Company and its Affiliates shall not enforce against any SpinCo