Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 17

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 17
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 the Group Companies to a Related Party in excess of any payment made therefor; (j) the amount of any loan by any of the Group Companies to a Related Party; (k) the amount of any reasonable and documented out-of-pocket third-party costs and expenses incurred by Purchaser or its affiliates in recovering any Leakage; and (l) any tax paid, payable or incurred by the Group Companies as a consequence of the matters referred to in clauses (a) through (k) above.

In this proxy statement, “Permitted Leakage” means the amount of any of the following payments or transactions made, or to be made, between a Group Company, on the one hand, and a Related Party, on the other hand (except to the extent constituting Transaction Expenses, which, for the avoidance of doubt, will constitute Leakage instead of Permitted Leakage): (a) payment of any amounts specifically reserved for in the applicable interim financial statements of Fortegra and its Subsidiaries set forth in the Merger Agreement, to the extent of the amounts so reserved for therein (up to such amounts); (b) payment of any amounts pursuant to a written request by, or with the prior written consent of, Purchaser to pay such amount (including, for the avoidance of doubt, any Payoff Amount (as defined in this proxy statement) paid by the Group Companies prior to closing at the written request of the Purchaser); (c) payment of any amounts (i) in settlement of accounts to the extent by and between Fortegra and a wholly owned Subsidiary or between any such wholly owned Subsidiaries of Fortegra or (ii) for bona fide services rendered in the ordinary course pursuant to any contract between a Group Company and a Related Party set forth on the applicable schedule to the Merger Agreement in connection with the terminal settlement of intercompany obligations; (d) payments of (i) bonuses or benefits to directors, managers, officers, employees or consultants of the Group Companies (including annual bonuses) made in the ordinary course of business and not arising in connection with the transactions contemplated by the Merger Agreement or (ii) compensation (A) in respect of Fortegra equity awards (1) outstanding on the date of the Merger Agreement or (2) issued to directors, managers, officers, employees or consultants in the ordinary course of business to the extent set forth in the applicable schedule of the Merger Agreement or (B) pursuant to contractual obligations existing on the date of the Merger Agreement as set forth