Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 290

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 290
---
 to the Group (the “”), net of a reasonable estimate of the cash Tax savings associated with any Tax deduction in respect of such Pre-Spin Corporate Bonus
Amount (the “”). Following the Distribution Effective Time, SpinCo shall calculate the aggregate Net Pre-Spin
Corporate Bonus Amount accrued as of the Distribution Effective Time with respect to any SpinCo Group Employee who provided Corporate Services prior to the Distribution Effective Time, and the Company shall pay such amount to SpinCo, no later than
thirty (30) days following the final calculation of such amount.

-29-

(ii) Post-Spin True-Up/True-Down. The
Parties agree to conduct a “true up/true-down” of the 2026 annual bonus accrual as of the Distribution Date after taking into account the allocation of the aggregate Net Pre-Spin Corporate Bonus
Amount pursuant to (“”), consistent with the Company’s past practice for
year-end bonus true-ups/true-downs and based upon actual Group performance for the Pre-Spin Performance Period. As soon as
reasonably practicable following the Distribution Date, SpinCo’s Chief Financial Officer and the Company’s Chief Financial Officer shall calculate and agree to the Pre-Spin Bonus Accrual and each
of the Parties will pay bonuses in respect of the Pre-Spin Performance Period based on their respective portion of the trued-up/trued-down Pre-Spin Bonus Accrual determined in accordance with this at the time provided under each Party’s respective annual bonus plan.

(b) Sales Incentive and/or Commission Plans. No later than the Distribution Effective Time, the Company Group shall continue to retain
(or assume as necessary) any sales incentive compensation plan or commission plan (including any sales incentive or other incentive plans applicable at the individual business unit level) for the exclusive benefit of Company Participants, whether or
not sponsored by the Company Group, and, from and after the Distribution Effective Time, shall be solely responsible for all Liabilities thereunder. No later than the Distribution Effective Time, the SpinCo Group shall continue to retain (or assume
as necessary) any sales incentive compensation plan or commission plan (including any sales incentive or other incentive plans applicable at the individual business unit level) for the exclusive benefit of SpinCo Participants, whether or not
sponsored by the SpinCo Group, and, from and after the Distribution Effective Time, shall be solely responsible for all Liabilities thereunder.

Section 10.4 .

(a) SpinCoIndividual Arrangements. SpinCo acknowledges and agrees that,