SEC Contract Filing

Filing Date: 2018-07-18

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>dzfinalagreement20181.htm
<DESCRIPTION>AMENDED AND RESTATED EMPLOYMENT AGREEMENT BETWEEN DAVID ZASLAV AND DISCOVERY, IN
<TEXT>
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<div><a name="s61CE443C4EE51F726991A8EC1A3B0AC7"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">EXECUTION COPY</font></div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:138%;padding-bottom:13px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">AMENDED AND RESTATED</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">EMPLOYMENT AGREEMENT</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This EMPLOYMENT AGREEMENT is made as of this 16th day of July, 2018 (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), by and between Discovery, Inc., a Delaware corporation with its principal place of business at One Discovery Place, Silver Spring, Maryland 20910 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and David Zaslav (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Executive</font><font style="font-family:inherit;font-size:12pt;">&#8221;), (collectively, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Parties</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and amends and restates the prior Employment Agreement between the Parties dated January 2, 2014 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Prior Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;). </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">WHEREAS, the Company desires to employ the Executive as President and Chief Executive Officer (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CEO</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and the Parties desire to enter into this Agreement to secure the Executive&#8217;s employment during the term hereof, on the terms and conditions set forth herein. </font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, the Parties agree as follows: </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Title</font><font style="font-family:inherit;font-size:12pt;">. The Company hereby employs the Executive, and the Executive agrees to serve the Company as President and CEO, on the terms and conditions hereinafter set forth, headquartered principally in the Company&#8217;s New York, New York offices.</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Employment Term</font><font style="font-family:inherit;font-size:12pt;">. The Executive&#8217;s employment by the Company pursuant to this Agreement will commence on July 1, 2018 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and will continue through December 31, 2023, unless sooner terminated pursuant to Paragraph 10 hereof (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Term of Employment</font><font style="font-family:inherit;font-size:12pt;">&#8221;). References to the &#8220;expiration of the Term of Employment&#8221; shall refer to the expiration of the Term of Employment on December 31, 2023. </font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Duties<