Company: TIPT
Filing Date: 2025-10-17
Form Type: PREM14A
Source: 0001140361-25-038514
Chunk: 99

Company: TIPTREE INC.
Filing Date: 2025-10-17
Form: PREM14A
Chunk 99
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#### TABLE OF CONTENTS
definitive agreements on September 26, 2025, representatives of Ropes & Gray, Sidley and Latham, as well as Barclays, BofA Securities and Goldman Sachs, were in frequent contact regarding issues arising from drafts of definitive transaction documentation with respect to the Merger and the other transactions contemplated by the Merger Agreement.

Also on September 3, 2025, Barclays provided relationship disclosures regarding Barclays’ past or existing relationships with Fortegra, Tiptree, Warburg Pincus and Purchaser to Ropes & Gray.

On September 5, 2025, representatives of Ropes & Gray, Sidley, Barclays and BofA Securities, Latham and Goldman Sachs held a call during which Ropes & Gray previewed certain changes that would be reflected in its forthcoming revised draft of the Merger Agreement. Following that call, Ropes & Gray shared a revised draft of the Merger Agreement with Latham consistent with these positions, including (i) a narrowed definition of burdensome condition but a concession that a burdensome condition limitation apply to all regulatory approvals required for the Merger, (ii) Fortegra performance awards continuing in effect following the closing, (iii) the addition of a purchase price adjustment mechanism based on adjusted net income of Fortegra, (iv) a termination fee of 2.25% of the equity value of Fortegra, (v) the deletion of a termination fee payable by Tiptree in the event that the Merger Agreement is terminated as a result of the failure to obtain the Tiptree stockholder approval, (vi) a narrower definition of Transaction Expenses that would constitute Leakage and (vii) the deletion of certain closing conditions, including employment agreements with Mr. Kahlbaugh and Mr. Rattner.

On September 9, 2025, members of Tiptree management and representatives of the Family Office held further discussions regarding the proposal for the Family Office to make an investment in Tiptree to fund the repurchase of the WP Investor’s interest in Fortegra.

Also on September 9, 2025, Latham shared a revised draft of the Merger Agreement (the “September 9 Merger Agreement Draft”) with Ropes & Gray reflecting, among other changes, (i) a broader definition of burdensome condition and the deletion of a covenant requiring the parties to attempt to agree to modify the terms of the Merger Agreement and other transaction documents to eliminate any