Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 345

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 345
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) pledge or encumber any shares of its capital stock or other equity or voting interest or
cause or permit the same to be subjected to any other Lien;

(iii) (A) split, combine, adjust, subdivide or reclassify any
capital stock or other equity interest or voting interest of the Company or any of its Subsidiaries, (B) except as otherwise provided in , issue or authorize the issuance of any other securities in
respect of, in lieu of or in substitution for, shares of capital stock of the Company or equity interests or voting interests of any of its Subsidiaries, or (C) purchase, redeem or otherwise acquire any Company Securities, except for
acquisitions of shares of Company Common Stock to satisfy Tax obligations with respect to Company Equity Awards or in connection with a cashless exercise of Company Stock Options, in each case, outstanding as of the date of this Agreement and in
accordance with the terms thereof;

(iv) issue, deliver, sell, dispose or grant any Company Securities, other than
(A) the issuance of shares of Company Common Stock upon the exercise of Company Stock Options or the settlement of Company RSUs or Company PSUs, in all cases, that are outstanding on the date hereof and in accordance with the applicable terms
of the Company Stock Plan and such Company Equity Award, (B) grants or awards of Company Securities required to be made pursuant to the terms of Company Employee Plans in effect as of the date of this Agreement, (C) the issuance of shares
of Company Common Stock pursuant to the ESPP in accordance with its terms, subject to the limitations in , or (D) the issuance of shares of Company Common Stock upon the settlement of exchanges of shares
of Class B Common Stock and Common Units pursuant to Article XII of the Operating Agreement;

(v) amend or otherwise
modify any of the terms of any outstanding Company Equity Awards;

(vi) adopt a plan or agreement of, or resolutions
providing for or authorizing, complete or partial liquidation, dissolution, restructuring, merger, consolidation, division, statutory conversion or domestication, share exchange, business combination, reorganization or recapitalization of the
Company or any of its Subsidiaries;

A-56

(vii) (A) increase or commit to increase the salary, wages, benefits,
bonuses or other compensation payable or to become payable to the Company’s or any of its Subsidiaries’ current and former directors, officers, employees,