Netflix said the Compensation Committee approved on October 30, 2025 amendments to compensatory arrangements for co-Chief Executive Officers Ted Sarandos and Greg Peters, Chief Financial Officer Spencer Neumann, and Chief Legal Officer David Hyman, subject to the consent of each applicable Executive Officer.

1. 01

   Netflix said the Compensation Committee approved on October 30, 2025 amendments to compensatory arrangements for co-Chief Executive Officers Ted Sarandos and Greg Peters, Chief Financial Officer Spencer Neumann, and Chief Legal Officer David Hyman, subject to the consent of each applicable Executive Officer.

2. 02

   The company said the amended Severance Plan is effective as of January 1, 2026 and that Good Reason terminations are now included in the definition of Involuntary Termination. Severance payable upon an Involuntary Termination outside of a Change in Control Protection Period consists of a lump sum cash payment equal to two times the sum of annual base salary and target annual bonus, the Pro Rata Bonus, and a cash lump sum payment based on employee and employer COBRA premium rates for 18 months of continued health, dental and vision benefits.

3. 03

   Netflix said amendments to outstanding RSUs and PSUs are effective as of January 1, 2026, contingent on the applicable Executive Officer's timely execution of written consent letters. If an Executive Officer's Retirement occurs more than 12 months following the date of grant of an applicable award and the Retirement Vesting Criteria are satisfied, the applicable award will continue vesting in accordance with its regular vesting schedule, with PSUs generally deemed achieved based on actual performance.

4. 04

   The company defined Retirement as termination of an Executive Officer's status as an Employee after the Executive Officer has had at least 10 years of credited employment with the Company or a parent or subsidiary, is at least fifty-five years old, provides at least three months' advance written notice of Retirement, and is in good standing as determined by the Committee. Netflix said Good Reason terminations are now included in the definition of Qualifying Termination, and that a Retirement is not a Qualifying Termination.

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