Company: WBD
Filing Date: 2025-06-16
Form Type: 8-K
Source: 0001437107-25-000153
Chunk: 10

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-06-16
Form: 8-K
Item: Item 5.02
Chunk 10
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 of the applicable performance period.

To be eligible for the severance benefits described above, including any cash severance, pro-rated bonus or additional equity award vesting, upon a termination under the circumstances described above other than death, Mr. Zaslav must execute a release in favor of Streaming & Studios.

Pursuant to the Zaslav Agreement, Mr. Zaslav is subject to customary restrictive covenants, including those relating to non-solicitation, non-interference, non-competition and confidentiality, during the term of the Zaslav Agreement and for a period of two years thereafter, unless Mr. Zaslav’s employment is terminated without Cause or for Good Reason, in which case the restricted period would be reduced to one year following termination.

Wiedenfels Employment Agreement

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Introduction

Mr. Wiedenfels’ new compensation package, which will take effect only upon successful completion of the Separation, was designed to reflect his expanded responsibilities as the go-forward CEO of Global Networks, market practices and peer group benchmarks for new CEO compensation packages.

Summary

Prior to the Separation, Mr. Wiedenfels will continue to serve as our Chief Financial Officer (“ CFO”) under the terms of his existing employment agreement (the “ CFO Agreement”). The Wiedenfels Agreement will only become effective upon, and is contingent on, completion of the Separation. If the Separation does not occur prior to December 31, 2026, then the Wiedenfels Agreement will become null and void and Mr. Wiedenfels will continue to be our CFO under the terms of the CFO Agreement (which expires on July 11, 2026, but may be extended by mutual agreement of the parties).

Following the Separation, Mr. Wiedenfels will serve as the CEO of Global Networks under the terms of the Wiedenfels Agreement. The term of the Wiedenfels Agreement will end on December 31, 2031 unless the parties then agree to renew the Wiedenfels Agreement.

Under the Wiedenfels Agreement, Mr. Wiedenfels’ base salary will be $2,500,000 per annum and he will be eligible for an annual cash bonus opportunity with a target equal to 350% of his annual base salary, with the actual payout based on achievement of performance goals established by Global Networks’ compensation committee. The annual bonus payout is subject to a cap of 200% of