Company: TRUE
Filing Date: 2025-10-15
Form Type: DEFA14A
Source: 0001104659-25-099555
Chunk: 7

Company: TrueCar, Inc.
Filing Date: 2025-10-15
Form: DEFA14A
Chunk 7
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, solicit a
competing acquisition proposal from any third party that is not a “No-Shop Party” (as defined in the Merger Agreement),
subject to certain requirements set forth in the Merger Agreement.

From and after (i) the date of the Merger
Agreement (in the case of No-Shop Parties) and (ii) the No-Shop Period Start Date (in the case of all other third parties), the Company
will be bound by a covenant not to, among other things, solicit any competing acquisition proposals. However, at any time before receiving
the Company Stockholder Approval, if the Board determines in good faith, after consultation with its financial advisor and outside legal
counsel, that an unsolicited competing acquisition proposal constitutes or could reasonably be expected to lead to a “Superior Proposal” (as defined in the Merger Agreement), then the Company is permitted to engage in discussions or negotiations with
the third party (including a No-Shop Party) with respect to such third party’s unsolicited competing acquisition proposal, subject
to certain requirements set forth in the Merger Agreement.

If the Company receives a competing acquisition
proposal that the Board determines to be a Superior Proposal before receiving the Company Stockholder Approval, the Board may terminate
the Merger Agreement and/or effect an “Adverse Recommendation Change” (as defined in the Merger Agreement), subject
in each case to the Company fulfilling certain requirements before taking such action, including first providing Parent customary match
rights. In addition, the Board may effect an Adverse Recommendation Change (but not terminate the Merger Agreement) in response to an
“Intervening Event” (as defined in the Merger Agreement), subject to certain conditions and requirements, including
first providing Parent an opportunity to mitigate the Intervening Event.

Termination; Termination Fees and Expense Reimbursement; Specific Performance

The Merger Agreement may be terminated by mutual
written consent of the Company and Parent. In addition, either party may terminate the Merger Agreement if:

| · | any court or other governmental authority issues a final, non-appealable                                                         
 order permanently restraining, enjoining, rendering illegal or otherwise permanently prohibiting the consummation of the Merger; |

| · | the Company Stockholder Approval is not obtained at the Company Stockholder                                                     
 Meeting (or any adjournment or postponement thereof) at which a vote on the adoption of the Merger Agreement has been taken; or |

| · | if the other