Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 220

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 220
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 and (ii) such breach has not been cured prior to the earlier of 
 the End Date or the 30th day following Enfusion’s delivery of written notice describing such breach to Clearwater; provided, however, Enfusion will not be entitled to terminate the Merger Agreement if Enfusion is in breach of its        
 obligations under the Merger Agreement that would result in any condition to the obligations of Clearwater and Merger Sub not to be satisfied; or                                                                                            |

| • |     | at any time prior to receipt of the Stockholder Approval, if Enfusion has received a Superior Proposal and the                                                                                                                                 
 Enfusion Board or any committee thereof, acting upon the recommendations of the Special Committee, have determined to enter into a definitive agreement with respect to a Superior Proposal (with such definitive agreement being entered into 
 substantially concurrently                                                                                                                                                                                                                     |

140

| with the termination of the Merger Agreement (but in no case prior to the termination of the Merger Agreement)); provided, that Enfusion pays the Company Termination Fee (as defined in the 
 section titled “The Merger Agreement—Termination Fees and Expenses”) concurrently with and as a condition to such termination;                                                               |

| • |     | By Clearwater: |

| • |     | if there has been any breach of any representation or warranty or failure to perform any covenant or agreement on                                                                                                                               
 the part of Enfusion which (1) would cause any of the conditions to the obligations of Clearwater, Acquirer, Merger Sub or Merger Sub II not to be satisfied and (2) such breach has not been cured prior to the earlier of the End Date or the 
 30th day following Clearwater’s delivery of written notice describing such breach to Enfusion; provided, however, Clearwater will not be entitled to terminate the Merger Agreement if Clearwater, Acquirer, Merger Sub or Merger Sub           
 II is in breach of its obligations under the Merger Agreement that would result in any condition to the obligations of Enfusion not to be satisfied; or                                                                                         |

| • |     | at any time prior to receipt of the Stockholder Approval, if (1) the Enfusion Board or any committee                                                                                                     
 thereof, acting upon the recommendations of the Special Committee, has effected an Adverse Recommendation Change or (2) Enfusion has committed a material breach of the no-shop provisions of the Merger 
 Agreement.                                                                                                                                                                                               |

Termination Fees and Expenses If the Merger Agreement is validly terminated in specified circumstances, En