Company: CWAN
Filing Date: 2025-02-11
Form Type: S-4
Source: 0001193125-25-023759
Chunk: 419

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-11
Form: S-4
Chunk 419
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| CLEARWATER ANALYTICS HOLDINGS, INC. |
| By:                                 |
| Name:                               |
| Title:                              |

| [STOCKHOLDER]   |
| By:             |
| Name:           |
| Title:          |
| Address:        |
| E-Mail Address: |

Annex C

EXECUTION VERSION

AMENDMENT NO. 1 TO

THE TAX RECEIVABLE AGREEMENT

ThisAMENDMENT NO. 1 TO THE TAX RECEIVABLE AGREEMENT (this
“Amendment”) is dated as of January 10, 2025, and is among Enfusion, Inc., a Delaware corporation (the “Corporate Taxpayer”), and each of the undersigned parties (each, excluding
Enfusion Ltd. LLC, a Delaware limited liability company (“Opco”), a “TRA Amendment Party”). Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings given to
such terms in the Tax Receivable Agreement, dated as of October 19, 2021, by and among the Corporate Taxpayer and each of the other persons from time to time party thereto (the “TRA”).

RECITALS

WHEREAS,
the TRA Amendment Parties previously entered into the TRA;

WHEREAS, pursuant to Section 7.6(b) of the TRA, the TRA may
be amended if such amendment is approved in writing by each of the Corporate Taxpayer and by the TRA Parties who would be entitled to receive at least 50% of the total amount of the Early Termination Payment payable thereunder if the Corporate
Taxpayer had exercised its right of early termination on the date of the most recent Exchange prior to such amendment (excluding, for purposes of this sentence, all payments made to any TRA Party pursuant to the TRA since the date of such most
recent Exchange prior to such amendment) so long as such amendment does not have a disproportionate effect on the payments one or more TRA Parties receive under the TRA;

WHEREAS, the Board has established a special committee of independent and disinterested members of the Board (the “Special Committee”);

WHEREAS, the Corporate Taxpayer, Opco, Clearwater Analytics Holdings, Inc., a Delaware corporation,
Poseidon Acquisition, Inc., a Delaware corporation, Poseidon Merger Sub I, Inc., a Delaware corporation, and Poseidon Merger Sub II, LLC, a Delaware limited liability company (“Merger Sub II”), intend to enter into
that certain Agreement