Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 147

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 147
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. The Board will not:

| • | (i) withdraw or withhold or (ii) qualify, amend or modify (or publicly propose to fail to make, withdraw, withhold, qualify, amend or modify) in any manner adverse to 365, the Board recommendation (which, any of the foregoing in this bullet, we refer to as an “Adverse Recommendation Change”); |

| • | fail to include the Board recommendation in the proxy statement; |

| • | recommend, adopt, endorse, approve or otherwise declare advisable or publicly propose to recommend, adopt, endorse or approve or otherwise declare advisable any Acquisition Proposal; |

| • | cause or permit Cantaloupe or any of its subsidiaries to execute or enter into, any Company Acquisition Agreement; |

| • | fail to reaffirm the Board recommendation, or fail to reaffirm its determination that the Merger and the other transactions contemplated thereby are in the best interests of the Cantaloupe shareholders, in each case within five business days after 365 reasonably requests in writing that such recommendation or determination be reaffirmed (or, if earlier, by the fifth business day prior to the then-scheduled Cantaloupe shareholder meeting); |

| • | submit to the Cantaloupe shareholders for approval or adoption any Acquisition Proposal or agreement relating to an Acquisition Proposal; |

| • | fail to publicly announce, within ten business days after an Acquisition Proposal structured as a tender offer or exchange offer relating to the securities of Cantaloupe will have been commenced, a statement disclosing that the Board recommends rejection of such tender or exchange offer; |

| • | fail to issue, within three business days after an Acquisition Proposal is publicly announced, a press release announcing its opposition to such Acquisition Proposal; or |

| • | take any action to make any “moratorium”, “control share acquisition”, “fair price”, “supermajority”, “affiliate transactions” or “business combination statute or regulation” or other similar anti-takeover laws and regulations under the PBCL or the Cantaloupe Articles inapplicable to any third party or any Acquisition Proposal (any such event in the foregoing bullets, other than the first bullet, we refer to as a “Triggering Event”). |

Notwithstanding anything to the contrary set forth in the Merger Agreement, prior to obtaining the required Cantaloupe shareholder approval, the Board may, in response to a Superior Proposal, (i) make an Adverse Recommendation Change and/or (ii) terminate the Merger Agreement to concurrently enter into