Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 286

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 286
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 Parent, Merger Sub, Merger Sub II or the Exchange Agent shall be under any obligation to notify any Person of any defect in an Election Form.

(e) Subject to the provisions of the Exchange Agent Agreement, the determination of the Exchange Agent shall be binding as to whether an
Election shall have been properly made or revoked pursuant to this with respect to shares of Company Common Stock or Common Units and when Elections and revocations were received by it. Subject to the
provisions of the Exchange Agent Agreement, if the Exchange Agent determines that any Election was not properly made with respect to any shares of Company Common Stock or Common Units, such shares of Company Common Stock or Common Units, as
applicable, shall be treated by the Exchange Agent as Non-Election Shares. The pro rata selection process to be used by the Exchange Agent shall consist of such equitable pro ration processes as shall be
mutually determined by Parent and the Company. Subject to the provisions of the Exchange Agent Agreement, the Exchange Agent shall make all computations as to the allocation and the proration contemplated by this
, and any such computation shall be conclusive and binding on Parent and the holders of shares of Class A Common Stock (including any Vested Company RSUs) or Common Units.

(f) Within three Business Days after the Effective Time, Parent shall cause the Exchange Agent (as defined herein) to effect the allocation
among the holders of shares of Class A Common Stock (including any Vested Company RSUs) and Common Units of the rights to receive the Merger Consideration as follows:

(i) all Mixed Election Shares shall be converted into the right to receive the Per Share Mixed Consideration;

(ii) . If the sum of (x) the product obtained by multiplying
(1) the number of Mixed Election Shares by (2) $5.85, plus (y) the product obtained by multiplying (1) the number of Cash Election Shares by (2) the Per Share Cash Consideration is greater than the Total Cash Amount, then:

(A) all Non-Election Shares and all Stock Election Shares shall be
converted into the right to receive the Per Share Stock Consideration;

(B) the Exchange Agent shall then select from among
the Cash Election Shares, pro rata to the holders of Cash Election Shares in accordance with their respective numbers of Cash Election

A-25

Shares (except as provided in the last paragraph of this), a sufficient number of shares (“”) such that the aggregate
cash amount that will be paid in the Mergers