Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 288

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 288
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 Dissenting Shares as of the Election Deadline to be treated as Cash Election Shares not subject to the pro rata selection process
contemplated by this, and any Dissenting Shares that receive the Merger Consideration to be treated as Cash Election Shares not subject to the pro rata selection process contemplated by this.

Section 2.05 Exchange of Eligible Shares and Delivery of Merger Consideration.

(a) Prior to the Effective Time, Parent shall appoint Computershare Trust Company, N.A. (or its successor) as the exchange agent (or such
other nationally recognized exchange agent selected by Parent and reasonably acceptable to the Company) (the “Exchange Agent”) for the purpose of exchanging for the Merger Consideration (and cash in lieu of fractional shares of
Parent Class A Common Stock pursuant to ) certificates representing shares of Company Common Stock or Common Units (the “Certificates”); , , that any
references herein to “Certificates” are deemed to include references to book-entry account statements relating to the ownership of shares of Company Common Stock or Common Units. Prior to the Effective Time, Parent shall enter into
an exchange agent agreement, in form and substance reasonably acceptable to the Company, with the Exchange Agent for the payment of the Merger Consideration in accordance with this Agreement. At the Effective Time, Parent shall deposit, or shall
cause to be deposited, with the Exchange Agent, for the benefit of the holders of shares of Company Common Stock and Common Units issued and outstanding immediately prior to the Effective Time, (x) an aggregate number of shares of Parent
Class A

A-26

Common Stock to be credited in the stock ledger and other appropriate books and records of Parent in book-entry form and (y) cash in an amount sufficient to pay the aggregate Per Share Cash
Consideration (and any cash in lieu of fractional shares of Parent Class A Common Stock pursuant to ) (the “Payment Fund”). To the extent, following the deposit contemplated by the
preceding sentence, such fund diminishes for any reason below the level required to make prompt payment of the Merger Consideration, Parent shall promptly replace or restore, or cause to be replaced or restored, the lost portion of such fund so as
to ensure that it is, at all times, maintained at a level sufficient to make such payments. The Payment Fund shall be invested by the Exchange Agent as directed by Parent; that (i) no such investment or losses thereon shall
relieve Parent from making the payments required by this or affect the amount