THE WALT DISNEY COMPANY Burbank, California 91521

Exhibit 10.3

THE XXXX DISNEY COMPANY

000 Xxxxx Xxxxx Xxxxx Xxxxxx

Xxxxxxx, Xxxxxxxxxx 00000

January 19, 2022

Xx. Xxxxxxxxx X. XxXxxxxx

Senior Executive Vice President

and Chief Financial Officer

The Xxxx Disney Company

000 Xxxxx Xxxxx Xxxxx Xxxxxx

Xxxxxxx, Xxxxxxxxxx 00000

Re: Assignment of Employment Agreement

Dear Xx. XxXxxxxx:

Reference is made to the employment agreement (the "Agreement") dated as of July 1, 2015, as amended, between The Xxxx Disney Company (the "Company") and you, wherein Company employed your services as Senior Executive Vice President and Chief Financial Officer.

1.Pursuant to Paragraph 8(c) of the Agreement, Company may assign the Agreement or all or any part of its rights thereunder from any Company entity to another Company entity, and in such event the Agreement shall inure to the benefit of such assignee.

2.Please be advised that Company hereby assigns the Agreement to Disney Financial Services Co., LLC, effective as of January 2, 2022 (the “Assignment Effective Date”).

3.Effective as of January 2, 2022, all references to "Company” in the Agreement and its subsequent amendments shall be deemed to be references to Disney Financial Services Co., LLC.

4.Following the Assignment Effective Date, your title shall continue to be Senior Executive Vice President and Chief Financial Officer, The Xxxx Disney Company.

As so assigned, the Agreement continues in full force and effect.

THE XXXX DISNEY COMPANY
By:						/s/ Xxxx X. Xxxxxxxxxx
			Senior Executive Vice President and
			Chief Human Resources Officer
Date:						January 19, 2022

The above-referenced assignment is hereby accepted.

DISNEY FINANCIAL SERVICES CO., LLC

By:

/s/ Xxxxxx X. Xxxx

Vice President

Date:

January 19, 2022