Company: AWK
Filing Date: 2025-12-17
Form Type: S-4
Source: 0001193125-25-321389
Chunk: 339

Company: American Water Works Company, Inc.
Filing Date: 2025-12-17
Form: S-4
Chunk 339
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 standstill or similar agreement, solely to the extent that the Parent Board determines in good
faith, after consultation with its outside legal counsel, that failure to take such action would be inconsistent with the Parent Board’s fiduciary duties under applicable Law.

(b) Except as permitted by this , and except for the public disclosure of a Parent Recommendation
Change Notice, neither the Parent Board nor any committee thereof shall (i) withdraw, change, qualify, withhold or modify in each case in any manner adverse to Parent, or propose publicly to withdraw, change, qualify, withhold or modify in any
manner adverse to Parent, the Parent Board Recommendation, (ii) adopt, approve or recommend, or propose publicly to adopt, approve or recommend, any Parent Competing Proposal, (iii) fail to include in the Joint Proxy Statement the Parent
Board Recommendation, (iv) fail to send to its securityholders, within ten (10) Business Days after the commencement of any tender offer or exchange offer relating to shares of Parent Common Stock (or, if earlier, at least two
(2) Business Days prior to the Parent Stockholder Meeting), a statement disclosing that Parent recommends rejection of such tender or exchange offer and reaffirming its recommendation of this Agreement and the Merger or (v) fail to
publicly reaffirm its recommendation of this Agreement and the Merger within ten (10) Business Days of the Company’s written request to do so (or, if earlier, at least two (2) Business Days prior to the Parent Stockholder Meeting)
following the public announcement of any Parent Competing Proposal (or any material amendment thereto, including any change to the price or form of consideration); that the Company shall not be entitled to make such written request,
and the Parent Board shall not be required to make such reaffirmation, more than once with respect to any particular Parent Competing Proposal (or any material amendment thereto) (any action or failure to act in the foregoing clauses
(i) through (v) being referred to as a “”). Except as set forth in (including the entry into an Acceptable Confidentiality Agreement),
and , Parent and Parent’s officers and directors shall not, and Parent shall cause the Parent Subsidiaries not to, and Parent shall instruct its and the Parent
Subsidiaries’ Representatives engaged in connection with the Transactions not to, and use its reasonable best efforts to cause its and the Parent Subsidiaries’ Representatives not to, directly or indirectly, during the Interim Period