Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 292

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 292
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 unreasonably
withheld, conditioned or delayed), make any payment with respect to, or settle or offer to settle, any such demands, or agree to do any of the foregoing.

Section 2.06 Company Equity Awards; ESPP.

(a) . Immediately prior to the Effective Time, without any action on the part of Parent, Merger Sub, the Company
or the holders thereof, each outstanding Company Stock Option shall be treated as follows:

(i) In-the-MoneyCompany Stock Options. Each In-the-Money Company Stock Option, whether vested
or unvested, shall be cancelled and converted into the right to receive an amount in cash, without interest thereon, equal to the product obtained by multiplying (1) the number of shares of Company Common Stock subject to such In-the-Money Company Stock Option as of immediately prior to the

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Effective Time by (2) the excess, if any, of the Per Share Cash Consideration over the exercise price per share of such
In-the-Money Company Stock Option (the “Option Consideration”), subject to applicable withholding taxes.

(ii)
Out-of-the-MoneyCompany Stock Options. Each Out-of-the-Money Company Stock Option shall be forfeited and cancelled for no consideration.

(b) . At the Effective Time, each Company RSU outstanding as of immediately prior to the Effective Time will automatically,
without any action on the part of Parent, Merger Sub, the Company or the holders thereof, be treated as follows:

(i)
Vested Company RSUs.Each Vested Company RSU shall be cancelled and converted into the right to receive the per share Merger Consideration in respect of each share of Company Common Stock subject to such Vested Company RSU as of immediately
prior to the Effective Time (the “Vested RSU Consideration”), subject to applicable withholding taxes, in the form determined at the election of the holder of such Vested Company RSUs pursuant to the procedures set forth in
.

(ii) Unvested Company RSUs. Each Unvested Company RSU shall be assumed by
Parent and converted into a restricted stock unit award (a “Converted RSU”) with respect to a number of shares of Parent Common Stock equal to the product, rounded up to the nearest whole share, obtained by multiplying (A) the
number of shares of Company Common Stock subject to the Unvested Company RSU immediately prior to the Effective Time by (B) the Exchange Ratio. Except as otherwise provided in this , each Converted