Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 292

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 292
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 Corporation shall be merged with and into the Acquirer in accordance with the DGCL, whereupon the separate existence of Surviving Corporation shall cease, and the Acquirer shall be the surviving corporation in the Second Merger (the
“SecondSurviving Corporation”), and the separate corporate existence of the Surviving Corporation, with all its rights, privileges, immunities, powers and franchises, shall vest in the Acquirer, and all debts, liabilities
and duties of the Acquirer and the Surviving Corporation shall become the debts, liabilities and duties of the Second Surviving Corporation. The Second Merger shall have the effects set forth in this Agreement and specified in the DGCL.
Notwithstanding the foregoing, the Second Merger shall not occur unless each of the Second Merger Conditions shall have been satisfied as of the Closing Date, but prior to the Effective Time.

Section 2.03 Conversion of Shares and Units.At the Effective Time, as a result of the Merger and without any
action on the part of Parent, Merger Sub, the Company or the holders of any capital stock of Parent, Merger Sub or the Company and at the LLC Merger Effective Time, as a result of the LLC Merger and without any action on the part of Parent, Merger
Sub II, the Operating Company or the holders of any capital stock of Parent or units of Merger Sub II or the Operating Company:

A-21

(a) Except as otherwise provided in ,
or , each (1) share of Class A Common Stock that is issued and outstanding immediately prior to the Effective Time (it being understood and agreed that for
purposes of this , each Vested Company RSU that is issued and outstanding immediately prior to the Effective Time shall be included as a Class A Common Stock) and (2) Common Unit that is issued and
outstanding immediately prior to the LLC Merger Effective Time (each, an “Eligible Share”) shall, in each case of the foregoing clauses (1) and (2), be converted into the right, at the election of the holder of such share or
unit pursuant to the procedures set forth in , to receive either (i) the Per Share Mixed Consideration, (ii) the Per Share Stock Consideration or (iii) the Per Share Cash Consideration (together,
the “Merger Consideration”):

As used herein:

(i) “Aggregate Consideration” means the sum of (x) Total Stock Value and (y) Total Cash Amount.

(ii) “Aggregate