Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 263

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 263
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 Company Participant and Other Company Service Provider shall cease to be an active participant in any SpinCo Plan, and the Company and SpinCo shall take all necessary action to effectuate each
such cessation.

Section 3.3 . SpinCo shall give each SpinCo Participant full credit for purposes of
eligibility, vesting, determination of level of benefits, and, to the extent applicable, benefit accruals under any SpinCo Plan for such SpinCo Participant’s service with any member of the Group prior to the Distribution Date to the same
extent such service was recognized by the corresponding Company Plans immediately prior to the Distribution Date; , , that such service shall not be recognized () for purposes of benefit accruals under any
Benefit Plan that is a defined benefit pension plan (other than as expressly set forth in ) or () to the extent that such recognition would result in the duplication of benefits. In addition, for
a period of twelve (12) months from the Distribution Effective Time or, if longer, during an employee’s Applicable TSA Period, if () a SpinCo Group Employee’s employment with the SpinCo Group or a Company Group
Employee’s employment with the Company Group terminates, () the 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