Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 275

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 275
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 Company Participant in such plan to be transferred to a Company Group Member, and the Company Group shall assume and retain sole responsibility for all such Liabilities as of and following the Distribution Effective Time. With respect to the
transfer of Assets under Benefit Plans pursuant to the preceding sentence, the Parties shall adhere to any applicable rules related to the division of plan assets in plan splits or spin-offs under the Laws of the jurisdiction to which such Benefit
Plan is subject; that, if no such rules are applicable, Assets will be divided based on how they are allocated among individual participants in the plan; that, if plan Assets are not allocated on an individual-by-individual basis, plan Assets will be divided in proportion to the accounting projected benefit obligation to be retained or assumed by the plan, as applicable.
To the extent necessary to effect the foregoing, the Company shall cause a Company Group Member, and SpinCo shall cause a SpinCo Group Member, to establish and sponsor or contribute to new defined benefit retirement plans with reasonably comparable
terms and conditions to each SpinCo Splitting Non-U.S. DB Plan and each Company Splitting Non-U.S. DB Plan, respectively. Each SpinCo Participant in a Company Splitting Non-U.S. DB Plan shall be given full credit for such SpinCo Participant’s service with any member of the Group prior to the Distribution Date for purposes of benefit accruals under the corresponding SpinCo
Plan to which the Liabilities under the Company Splitting Non-U.S. DB Plan related to such SpinCo Participant were transferred. Each Company Participant in a SpinCo Splitting
Non-U.S. DB Plan shall be given full credit for such Company Participant’s service with any member of the Group prior to the Distribution Date for purposes of benefit accruals under the corresponding
Company Plan to which the Liabilities under the Splitting SpinCo Non-U.S. DB Plan related to such Company Participant were transferred, in each case, to the extent such service was recognized under the
corresponding Company Plan and such recognition does not result in the duplication of benefits.

(c) . The
Parties intend, and will use commercially reasonable efforts to ensure, that, to the extent possible under applicable Law, neither the consummation of the Transactions nor any internal employment transfers pursuant to
, trigger a payment or distribution of compensation under any Company Retained Non-U.S. DB Plan, SpinCo Retained Non-U.S. DB Plan,
Company Splitting Non-U.S. DB Plan or SpinCo Splitting Non-U.S. DB Plan.