Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 20

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 20
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 as compared to other similarly situated participants in the industry in which the Company and its Subsidiaries operate, in which case only the incremental disproportionate impact
or impacts may be taken into account in determining whether or not there has been a Company Material Adverse Effect.

7

“Company Owned Intellectual Property” means all Intellectual Property owned
or purported to be owned by the Company or any of its Subsidiaries.

“Company PSUs” means each restricted stock unit
covering shares of Company Common Stock outstanding immediately prior to the Effective Time that is subject in whole or in part to performance-based vesting conditions, including performance goals or metrics, that was granted under the Company Stock
Plan.

“Company Return” means any Tax Return of the Company or any of its Subsidiaries.

“Company RSU” means each restricted stock unit covering shares of Company Common Stock outstanding immediately prior to the
Effective Time that is subject to vesting conditions based solely on continued employment or service that was granted under the Company Stock Plan.

“Company Stock Option” means each option to purchase shares of Company Common Stock granted under the Company Stock Plan.

“Company Stock Plan” means the 2021 Stock Options and Incentive Plan, as amended, restated, supplemented or otherwise
modified from time to time in accordance with its terms.

“Company Termination Fee” means an amount equal to $52,325,000.

“Contract” means any legally binding contract, agreement, note, bond, indenture, mortgage, guarantee, option, lease (or
sublease), license, sales or purchase order, warranty, commitment, or other instrument, obligation, arrangement or understanding of any kind.

“Corporate Mergers” means, collectively, the Merger and the Second Merger.

“COVID-19” means the coronavirus (or
COVID-19) pandemic, including any evolutions or mutations of the coronavirus (COVID-19) disease, and any further epidemics or pandemics arising therefrom.

“Debt Financing Related Parties” means the Debt Financing Sources, their respective Affiliates and their and their respective
Affiliates’ respective directors, officers, employees, agents, advisors and other Representatives, and their successors and permitted assigns, in each case, solely in their capacities as such.

“Debt Financing Sources” means, at any time, the agents, arrangers, lenders, initial purchasers and other entities that have
committed to provide or arrange, or have otherwise entered into agreements in connection with, all or any part