Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 274

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 274
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 to Parent and the Company, dated as of the Closing Date, concluding that, on the basis of facts, customary representations and assumptions set forth or referred to in the Second Closing Tax
Opinion, for U.S. federal income tax purposes, the Corporate Mergers, taken together, will qualify as a “reorganization” within the meaning of Section 368(a) of the Code.

“Securities Act” means the Securities Act of 1933 and the rules and regulations promulgated thereunder.

“Software” means any and all (i) software, firmware, middleware and computer programs, including any and all software
implementations of algorithms, models and methodologies, whether in source code, object code, executable or binary code, and (ii) documentation, user manuals, training and other materials relating to any of the foregoing.

“Special Committee Financial Advisor” means Goldman Sachs & Co. LLC or another independent financial advisor of
nationally recognized reputation.

A-14

“Subsidiary” of any Person means another Person (other than an individual),
of which securities or other ownership interests representing more than 50% of the equity or more than 50% of the ordinary voting power (or, in the case of a partnership, more than 50% of the general partnership interests) are, as of such date
owned, directly or indirectly, by such Person or by one or more other Subsidiaries of such Person or by such Person and one or more other Subsidiaries of such Person.

“Superior Proposal” means any bona fide written Acquisition Proposal that did not result from or involve any material
breach or violation of or and the Special Committee or any committee thereof determines in good faith (after consultation with, and upon the advice of, a Special Committee
Financial Advisor and outside legal counsel), taking into account, among other things, all legal, financial, regulatory, and other aspects of the Acquisition Proposal and the Third Party making the Acquisition Proposal (including likelihood of
consummation and certainty of closing), (i) is reasonably capable of being consummated in accordance with its terms and (ii) would, if consummated in accordance with its terms, result in a transaction that is more favorable to the
Company’s stockholders from a financial point of view than the Mergers (after taking into account any revisions to the terms of this Agreement proposed by Parent in writing prior to the time of such determination); ,
, that, for purposes of this definition of “