Company: CWAN
Filing Date: 2025-03-07
Form Type: 10-K/A
Source: 0001628280-25-011307
Chunk: 22

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K/A
Chunk 22
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 cash incentive opportunity for each of our NEOs (as a fixed dollar amount) is set forth below:

| Named Executive Officer |     | 2024 Target Incentive ($) |     | 2023 Target Incentive ($) |
| Sandeep Sahai           |     |                   784,080 |     |                   784,080 |
| James Cox               |     |                   400,000 |     |                   400,000 |
| Scott Erickson          |     |                   325,000 |     |                   290,000 |
| Souvik Das              |     |                   264,000 |     |                   225,000 |
| Subi Seti               |     |                   250,000 |     |                   225,000 |

Performance Metrics: Scorecard

The annual cash incentive performance metrics are derived from the Company's performance goals or "scorecard," which are established by the Board based on our corporate strategy, striking an appropriate balance between establishing financial, strategic and operational goals that are rigorous and challenging, while also achievable. The Company's performance goals align with the goals that are applicable to the CEO on his scorecard. In order to drive achievement of the Company's scorecard, the CEO allocates performance metrics thereunder to each of the NEOs, as further described below. We use this scorecard approach because it is aligned with the view that the NEOs must drive advances on a range of fronts at the same time in order to execute our strategy and achieve our financial and other goals that are critical to our long-term success.

Certain of the performance metrics, such as various measures of revenue, apply to several NEOs' scorecards, as described below, because they are key drivers of the Company’s near-term financial and operational success, and serve as the building blocks to create long-term stockholder value. No amount will be paid out with respect to any annual cash incentive opportunity if the performance is below the threshold, which is equal to 75% of performance targets, and achievement in excess of target performance may result in an increased payout without an established maximum.

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The Board determined the targets for the Company, which are correspondingly the CEO’s performance metrics, in December 2023. These metrics were then used to determine corresponding metrics for each NEO by the CEO. The Board monitors the Company’s performance against the metrics set in December throughout the year. Based on each NEO’s performance against the performance metrics and individual performance goals set forth