Company: AWK
Filing Date: 2025-12-17
Form Type: S-4
Source: 0001193125-25-321389
Chunk: 212

Company: American Water Works Company, Inc.
Filing Date: 2025-12-17
Form: S-4
Chunk 212
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 cured prior to the earlier of (A) 30 days after written notice is given by the non-breaching                                            
 party to the breaching party and (B) three business days prior to the end date; provided that the right to terminate will not be available to the non-breaching party if such party is in breach of any of                                          
 its representations, warranties, covenants, or other agreements contained in the merger agreement such that any condition of the merger applicable to such party’s representations, warranties, covenants, or other agreements would not be capable 
 of being satisfied;                                                                                                                                                                                                                                 |

| • |     | by American Water or Essential, before obtaining its shareholder approval, in order to enter into a written                                                                                                                     
 definitive agreement for a superior proposal, if such party has complied with its change of recommendation and match right obligations described above, subject to paying any applicable termination fee to the other party; or |

| • |     | by American Water or Essential, before the other party obtains its shareholder approval, if there has been an 
 adverse recommendation change by the board of directors of the other party.                                   |

Effect of Termination Essential has agreed to pay American Water $370 million if the merger agreement is terminated:

| • |     | (i) by American Water, if Essential willfully breached or failed to perform in any material respect any of its                                                                                                                                   
 representations, warranties, covenants, or other agreements contained in the merger agreement, which breach or failure to perform would result in a failure of a condition of the merger applicable to such party’s representations, warranties, 
 covenants, or other agreements, (ii) by American Water or Essential if the Essential shareholder approval is not obtained after the Essential shareholder meeting (including any adjournments or postponements) has concluded or, (iii) by       
 American Water or Essential, if the merger is not completed by the end date and, in each case:                                                                                                                                                   |

| • |     | prior to any such termination, any third party has publicly announced or disclosed and not publicly withdrawn a                       
 competing proposal (which, solely for these purposes, is defined by substituting “50%” for “20%” in each instance) for Essential; and |

| • |     | within 12 months after any such termination, Essential enters into a competing acquisition agreement; |

| • |     | by American Water, if there has been an adverse recommendation change by the Essential board prior to obtaining 
 the Essential shareholder approval; or                                                                          |

| •