Company: WBD
Filing Date: 2025-06-17
Form Type: 8-K/A
Source: 0001437107-25-000157
Chunk: 15

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-06-17
Form: 8-K/A
Chunk 15
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 the termination date and any options that vest as a result of such termination will remain exercisable for one-year following the termination date.

If Mr. Wiedenfels and Global Networks do not agree to renew the Wiedenfels Agreement at the end of the term, Mr. Wiedenfels will be entitled to any accrued benefits, including payment of the annual bonus for the year of termination, and nonrenewal noncompetition benefits in consideration of Mr.

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Wiedenfels’ continued compliance with his restrictive covenants. These benefits include (i) an amount equal to the sum of (x) his base salary plus (y) target bonus to be paid over a period of 12 months following Mr. Wiedenfels’ termination date and (ii) the same treatment of his then-outstanding equity awards granted after the Separation as provided above for a termination without Cause or Good Reason, except the period for which the awards continue to vest will be reduced to 12 months.

To be eligible for the severance benefits or nonrenewal noncompetition benefits described above on a termination under the circumstances described above other than death or disability, Mr. Wiedenfels must execute a release in favor of Global Networks.

Pursuant to the Wiedenfels Agreement, Mr. Wiedenfels is subject to customary restrictive covenants, including noncompetition and nonsolicitation covenants effective during Mr. Wiedenfels’ employment and for a period of 24 months and 18 months, respectively, thereafter, unless Mr. Wiedenfels’ employment is terminated without Cause, for Good Reason, disability or the expiration of the employment term, in which case the restricted period for the noncompetition clause would be reduced to one year following termination.

If Mr. Wiedenfels ceases to comply with the noncompetition or nonsolicitation clauses in the Wiedenfels Agreement, any severance benefits or nonrenewal noncompetition benefits described above would be terminated and subject to repayment on demand (as applicable).

Cautionary Statement Regarding Forward- Looking Information

This Current Report on Form 8-K (including the exhibits attached hereto) contains certain “forward-looking statements.” Forward-looking statements include, without limitation, statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as “anticipate,” “believe,”