Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 150

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 150
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 the applicable Intervening Event (it being understood that this notice itself will not constitute an Adverse Recommendation Change for purposes of this Agreement); |

| • | the Board determines in good faith, after consultation with Cantaloupe’s financial advisors and outside legal counsel, that the failure of the Board to take such action would be inconsistent with the directors’ fiduciary duties under applicable law; |

| • | following such meeting, Cantaloupe provides to 365 written notice to the effect that the Board has determined in good faith, after consultation with its financial advisors and outside counsel, that the Board proposes to effect an Adverse Recommendation Change absent any revision to the terms and conditions of the Merger Agreement; |

| • | during the four business day period following the date on which such notice of an Intervening Event is delivered to 365, Cantaloupe will and will cause its representatives to, if requested by 365, negotiate in good faith with 365 (it being understood and agreed that each material development with respect to an |

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Intervening Event will require a new notice from Cantaloupe to 365 of any such material development and cause such notice period to be extended to ensure that at least three business days remain in the notice period subsequent to the time Cantaloupe notifies 365 of any such material development, and that the notice period may be extended multiple times), to make adjustments to the terms and conditions of the Merger Agreement in a manner that obviates the need for such Adverse Recommendation Change;

| • | the Board has considered in good faith any revisions to the terms of the Merger Agreement proposed by 365 in writing as a result of the negotiations required by the fourth bullet above or otherwise; and |

| • | following the end of such period, the Board, after consultation with Cantaloupe’s financial advisors and outside legal counsel and taking into account any revisions to the terms and conditions of the Merger Agreement proposed by 365 in writing as a result of the negotiations required by the fourth bullet above or otherwise, will have determined in good faith that the failure of the Board to make such an Adverse Recommendation Change in response to such Intervening Event still would be inconsistent with the directors’ fiduciary duties under applicable law. |

Cantaloupe, its subsidiaries and their respective officers, directors and financial advisors will, and Cantaloupe and its subsidiaries will cause their other representatives engaged in connection with the transactions contemplated in the