Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309879
Chunk: 304

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 304
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or obligations thereunder) with Company Group Employees that are Company Employee Liabilities.

(c) Restrictive Covenants in Employment and OtherAgreements. Effective on the Distribution Date, to the extent permitted by
applicable Law: (i) SpinCo shall be considered to be a third-party beneficiary with respect to all agreements containing restrictive covenants (including confidentiality, non-competition and non-solicitation provisions) between a Company Group Member and a SpinCo Group Employee or a Former SpinCo Group Employee, such that SpinCo shall enjoy all the rights and benefits, in addition to the Company, under
such agreements (including rights and benefits as a third-party beneficiary), with respect to the SpinCo Business; and (ii) the Company shall be considered to be a third-party beneficiary with respect to all agreements containing restrictive
covenants (including

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confidentiality, non-competition and non-solicitation provisions) between a SpinCo Group Member and a Company Group
Employee or a Former Company Group Employee, such that the Company shall enjoy all the rights and benefits, in addition to SpinCo, under such agreements (including rights and benefits as a third-party beneficiary), with respect to the Company
Business. Following the Distribution Date, the Company and its Affiliates shall not enforce against any SpinCo Group Employee any confidentiality obligations (solely to the extent such obligations relate to the SpinCo Business) or non-competition obligations, or otherwise assert with respect to any such SpinCo Group Employee or SpinCo Group Member claims that would otherwise prohibit or place conditions on any such SpinCo Group
Employee’s employment with the SpinCo Group, or any actions taken by such SpinCo Group Employee as an employee of the SpinCo Group, in each case, solely to the extent such SpinCo Group Employee is acting in furtherance of the operations or
activities relating to the SpinCo Business. Following the Distribution Date, SpinCo and its Affiliates shall not enforce against any Company Group Employee any confidentiality obligations (solely to the extent such obligations relate to the Company
Business) or non-competition obligations, or otherwise assert with respect to any such Company Group Employee or Company Group Member claims that would otherwise prohibit or place conditions on any such
Company Group Employee’s employment with the Company Group, or any actions taken by such Company Group Employee as an employee of the Company Group, in each case, solely to the extent such Company Group Employee is acting in furtherance of the
operations or activities relating to the Company Business