Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 43

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 43
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 exercise price of such
In-the-Money Enfusion Option, less applicable tax withholding. Each Enfusion Stock Option with a per share exercise price that is equal to or greater than the Per Share
Cash Consideration (an “”) that is outstanding and unexercised will be cancelled
immediately prior to the Effective Time for no consideration.

Treatment of Restricted Stock Units

Each Enfusion Vested RSU will be cancelled at the Effective Time in exchange for the right of the holder to receive the Merger Consideration in
respect of each share of Enfusion Common Stock subject to such Enfusion

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Vested RSU immediately prior to the Effective Time, less applicable tax withholding, in the form determined at the election of the holder in accordance with the procedures described above under
the section titled “The Transactions—Merger Consideration.”

Each Enfusion RSU that is outstanding and unvested as of
immediately prior to the Effective Time (and that does not vest in accordance with its terms as a result of the consummation of the Transactions) (an “”) will be assumed by Clearwater and converted at the
Effective Time into a Clearwater restricted stock unit award (an “”), subject to the same terms and conditions as applied to the Enfusion Unvested RSU immediately prior to the Effective Time. The number of shares of
Clearwater Common Stock subject to each Assumed RSU will be equal to the product (rounded up to the nearest whole share) of (i) the number of shares of Enfusion Common Stock subject to the corresponding Enfusion Unvested RSU immediately prior
to the Effective Time, multiplied by (ii) the Exchange Ratio.

Treatment of Performance Stock Units

Each Enfusion restricted stock unit that vests in whole or in part based on performance-based vesting conditions (an “”) that is outstanding as of immediately prior to the Effective Time and vests as a result of the consummation of the Transactions will be cancelled and converted at the Effective Time into the right of the holder to receive the Per
Share Mixed Consideration in respect of each share of Enfusion Common Stock subject to such vested Enfusion PSU (with the applicable performance conditions deemed achieved or not achieved based on the terms of the applicable award agreement), less
applicable tax withholding. Each Enfusion PSU that does not vest at the Effective Time will be cancelled as of the Effective Time for no consideration.

Treatment of Employee Stock Purchase Plan

As soon as reasonably practicable after the date of the Merger Agreement,