Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 203

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 203
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x) in no
event shall any member of any Group be required to assign (or amend) any Shared Contract in its entirety or to assign a portion of any Shared Contract which is not assignable (or cannot be amended) by its terms (including any terms imposing consents
or conditions on an assignment where such consents or conditions have not been obtained or fulfilled) and (y) if any Shared Contract cannot be so partially assigned by its terms or otherwise or cannot be amended or if such assignment or
amendment would impair the benefit the parties thereto derive from such Shared Contract, then the Parties shall, and shall cause each of the members of their respective Groups to, take such other reasonable and permissible actions (including by
providing prompt notice to the other Party with respect to any relevant claim of Liability or other relevant matters arising in connection with a Shared Contract so as to allow such other Party the ability to exercise any applicable rights under
such Shared Contract) to cause a member of the SpinCo Group or the Company Group, as the case may be, to receive the rights and benefits of that portion of each Shared Contract that relates to the SpinCo Business or the Company Business, as the case
may be (in each case, to the extent so related), as if such Shared Contract had been assigned to a member of the applicable Group pursuant to this (or appropriately amended), and to bear the burden of the
corresponding Liabilities (including any Liabilities that may arise by reason of such arrangement), as if such Liabilities had been assumed by a member of the applicable Group pursuant to this (or appropriately
amended). For the avoidance of doubt, no Ancillary Agreement or Commercial Agreement shall be considered a Shared Contract for any purpose under this Agreement.

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(b) From and after the Distribution Effective Time, for any Shared Contracts
subject to clause (y) of Section 2.8(a), the Party to whose Group a Shared Contract has been allocated shall not (and shall cause the other members of its Group not to), without the consent of the other Party (such consent not to be
unreasonably withheld, conditioned or delayed) (i) waive any rights under such Shared Contract to the extent related to Business of the other Party, (ii) terminate (or consent to be terminated by the counterparty) such Shared Contract
except in connection with (x) the expiration of such Shared Contract in accordance with its terms (it being understood, for the avoidance of doubt, that sending a notice of