Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 110

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 110
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(xxi) adopt a rights plan, “poison pill” or similar arrangement that is, or at
the Effective Time will be, applicable to this Agreement, the Mergers or the other transactions contemplated hereby;

(xxii) engage in any transaction with, or enter into any agreement, arrangement or understanding with, any Affiliate of the
Company or other Person covered by Item 404 of Regulation S-K promulgated by the SEC that would be required to be disclosed pursuant to Item 404;

(xxiii) (A) amend the terms of the Tax Receivable Agreement or the TRA Amendment, or (B) make any payment to any TRA
Holder (as defined in the Tax Receivable Agreement) under the Tax Receivable Agreement, in each case of clauses (A) and (B), except as set forth in the TRA Amendment; or

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(xxiv) authorize, commit or agree to take any of the foregoing actions.

(c) Notwithstanding the foregoing, nothing contained in this Agreement shall give to Parent, Acquirer, Merger Sub or Merger Sub II, directly or
indirectly, rights to control or direct the operations of the Company and its Subsidiaries prior to the Effective Time.

Section 6.02
Acquisition Proposals.

(a) Subject to and
and except as expressly permitted by this , from the date of this Agreement until the earlier to occur of the Effective Time or the termination of this Agreement
pursuant to , beginning on the date hereof:

(i) the Company shall not and shall
cause each of its Subsidiaries not to, nor shall the Company authorize or permit any of its Representatives or any of its Subsidiaries’ Representatives to and it shall direct its Representatives and its Subsidiaries’ Representatives not
to, directly or indirectly (other than with respect to Parent, Acquirer, Merger Sub and Merger Sub II), (A) solicit, assist, initiate, propose, induce the making, submission or announcement of or otherwise knowingly encourage or facilitate any
inquiries, proposals or offers that constitute, or that would reasonably be expected to constitute or lead to, an Acquisition Proposal, (B) authorize, engage in, continue or otherwise participate in any discussions or negotiations with any
Third Party regarding any inquiries, proposals or offers that constitute, or that would reasonably be expected to constitute or lead to, an Acquisition Proposal, (C) furnish to any Third Party any information or provide to any Third Party
access