Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 44

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 44
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—Conditions to the Transactions.” Also, see the section titled
“The Transactions—Regulatory Clearances and Approvals.”

Treatment of Enfusion Equity Awards and Employee Stock Purchase Plan(see page 122)

Treatment of Stock Options

Each Enfusion Stock Option (as defined below) with a per share exercise price that is less than the Per Share Cash Consideration (an “”), whether vested or unvested, that is outstanding and unexercised will be cancelled immediately prior to the Effective Time in exchange
for the right of the holder to receive an amount in cash equal to the product of (i) the number of shares of Enfusion Common Stock subject to such In-the-Money
Enfusion Option immediately prior to the Effective Time, multiplied by (ii) the excess of the Per Share Cash Consideration over the 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 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