Bearing in mind HBK can't fuck up too many times as logic says JBL would just fire him, this is somehow how I think it's gonna go...
Pre-WM.
*Cena narrowly foils a JBL-hatched plan of interference from HBK during the title match. JBL blames HBK.
*JBL comes down to the ring and eliminates HBK from the outside during the RR match - JBL: "I won't have any of my employees overshadowing my greatness/headlining WM etc., especially after HBK failed me."
*Despite frequent attempted assistance from HBK, JBL fails to win the title shot during some form of contendership clusterfuck @ NWOut.
*JBL on Raw: "Seeing as HBK repeatedly screwed up my road to mania, I can still still represent my pedigree as the 'Wrestling God' at the biggest event of them all..... At WM I shall represent Raw in the inter-promotional challenge".
*JBL seen backstage on SD crapping himself after VG announces Undertaker as the SD entrant in the inter-promo match.
*JBL on Raw: During an official contract signing between Taker & JBL (HBK is present by JBLs side)... "Lately, I've been wondering exactly what the point of employing you is, Shawn.... I've found a way for HBK to redeem himself etc..... Spoke to Steph etc.... Re-written contract.... Now it's Shawn vs Taker @ WM"
*Taker beats Shawn @ WM...
Post WM.
*As a result of the WM loss, JBL 'demotes' HBK, employs various humiliation tactics (See Dibiase on Virgil for loose example)...
*Eventually HBK finds himself in another multi-man contenders match with JBL and, seeing this as his route to financial security via a WHC win, he gambles and eliminates JBL at the earliest opportunity... Shawn is down to the last two and despite JBLs intereference in the climax, HBK wins and challenges for the title at the next PPV...
*HBK faces heel-champion 'X' (who has JBL in their corner). HBK overcomes the champ regardless of JBLs repeated attempts to foil HBKs bid for 'freedom'.
*JBL costs HBK title the next night on Raw.
*JBL & HBK embark on a multi-match grudge fued.