Company: TIPT
Filing Date: 2025-10-17
Form Type: PREM14A
Source: 0001140361-25-038514
Chunk: 141

Company: TIPTREE INC.
Filing Date: 2025-10-17
Form: PREM14A
Chunk 141
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 Effective Time, with the corresponding value as measured immediately following the Effective Time, as reasonably agreed to by the parties and approved by the Fortegra Board prior to, but contingent upon, the Effective Time; provided, however, that following the vesting of any Fortegra performance award in accordance with the terms and conditions set forth in the underlying Fortegra performance award agreement, each Fortegra performance award will be settled solely in cash from and after the Effective Time. Prior to, but contingent upon, the Effective Time, the Fortegra Board (or, if appropriate, any committee thereof administering the Fortegra Equity Plan) will adopt resolutions or take such other actions as may be required to provide solely for cash settlement of Fortegra performance awards, from and after the Effective Time.

At the Effective Time, each such vested Fortegra stock option will, by virtue of the Merger, be cancelled, and in full consideration of such cancellation, will be converted into and thereafter evidence the right to receive, without interest and less applicable tax withholding, an amount equal to the sum of (1) the product obtained by multiplying (a) the difference of (i) the Per Share Closing Merger Consideration minus (ii) the exercise price per share of the applicable Fortegra stock option, by (b) the aggregate number of shares of Fortegra common stock underlying such Fortegra stock option (the amount contemplated by this clause (1), the “Option Closing Merger Consideration”) and (2) the Leakage Delayed Consideration attributable to such Fortegra stock option (if any), minus, in the case of each of the Minority Investors, such holder’s Pro Rata Percentage of the Equityholders’ Representative Expense Amount, attributable to such vested Fortegra stock option.

Each Fortegra stock option and each Fortegra RSU award, when converted in accordance with the terms of the Merger Agreement, will no longer be outstanding, will automatically be cancelled, and will cease to exist. As promptly as reasonably practicable following the Effective Time, Purchaser will pay or cause to be paid, or, to the extent the surviving corporation has sufficient immediately available funds at such time, cause the surviving corporation to pay or cause to be paid, to each applicable Fortegra equity award holder through the payroll system of the surviving corporation or applicable Subsidiary thereof (other than with respect to Fortegra stock options granted in respect of non-employee services, which need not be paid through such payroll system), an aggregate amount in cash equal to the Option Closing Merger Consideration or Per