Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 116

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 116
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 to this Agreement proposed in writing by Parent (after consultation with a Special Committee Financial Advisor and outside legal counsel), that the
failure to effect an Adverse Recommendation Change would still be inconsistent with its fiduciary duties under Applicable Law.

(c) Nothing
contained in or this or elsewhere in this Agreement shall prohibit the Company from (i) taking and disclosing a position contemplated by Rule 14d-9, Rule 14e-2(a) or Item 1012(a) of Regulation M-A promulgated under the Exchange Act, (ii) making any disclosure to the
Company’s stockholders if, the Company Board or any committee thereof determines in good faith, after consultation with outside legal counsel, the failure to do so would be inconsistent with its fiduciary duties under Applicable Law or any
disclosure requirements under Applicable Law, or (iii) making any disclosure that constitutes a “stop, look and listen” communication or similar communication of the type contemplated by
Section 14d- 9(f) promulgated under the Exchange Act, in each case, so long as any such disclosure complies with the terms and conditions set forth in and this
and does not include any statement that constitutes an Adverse Recommendation Change (it being understood that a customary “stop, look and listen” communication by the Company Board or any committee
thereof pursuant to Rule 14d-9(f) promulgated under the Exchange Act shall not, in and of itself, constitute an Adverse Recommendation Change). For the avoidance of doubt, nothing in this
will (A) limit or otherwise affect the obligations of the Company or the Special Committee and the rights of Parent under or this
or (B) be deemed to permit the Special Committee to make an Adverse Recommendation Change except to the extent expressly permitted by .

79

Section 6.04 Approval of Merger Agreement.

(a) Promptly following the effectiveness of the Form S-4 under the Securities Act, the Company shall,
in accordance with Applicable Law and the Company’s governing documents, duly set a record date for, call, give notice of, convene and hold a special meeting of the Company’s stockholders (including any adjournments and postponements
thereof, the “Stockholder Meeting”), within 30 days of mailing the definitive Joint Proxy Statement/Prospectus, for the purpose of considering and taking action upon the matters requiring Stockholder Approval; that
notwithstanding anything else to the contrary herein, the Company may postpone