Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 45

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 45
---
 duties as specified herein.

(c) Each Election Form shall permit the holder (or the beneficial owner through appropriate and customary documentation and
instructions), other than any holder of Dissenting Shares, to specify (an “Election”) (i) the number of shares of Eligible Shares of such holder with respect to which such holder elects to receive the Per Share Mixed
Consideration (“Mixed Election Shares”), (ii) the number of Eligible Shares of such holder with respect to which such holder elects to receive the Per Share Stock Consideration (“StockElection Shares”), (iii) the number of Eligible Shares of such holder with respect to which such holder elects to receive the Per Share Cash Consideration (“Cash Election Shares”) or (iv) that such holder makes no election
with respect to such holder’s Eligible Shares (“Non-ElectionShares”). Notwithstanding the foregoing, two or more holders of Eligible Shares (such holders,
“Joint Electors”) shall be entitled to make an Election in accordance with the procedures set forth in this with respect to some or all of the Eligible Shares held by each such Joint Elector (a
“Joint Election”), and, with respect to the policies and procedures set forth in , the Exchange Agent shall treat such Joint Election as if it had been made by a single holder of Eligible
Shares. Notwithstanding anything in , holders of Eligible Shares that deliver an Election Form to the Exchange Agent prior to the Election Deadline may deliver a Joint Election with another Joint Elector to
the Exchange Agent at any time after the Election Deadline but not less than five (5) Business Days before the Effective Time and instruct the Exchange Agent, after giving effect to the pro rata selection process contemplated by this
, with respect to the allocation among such Joint Electors of the Merger Consideration payable to such Joint Electors. Parent and the Company shall use commercially reasonable efforts to ensure that the Exchange
Agent Agreement shall include provisions to permit Joint Electors to instruct the Exchange Agent, after giving effect to the pro rata selection process contemplated by this , with respect to the allocation among
such Joint Electors of the Merger Consideration payable to such Joint Electors.

(d) An Election shall have been properly made only if the
Exchange Agent shall have received at its designated office, by 5:00 p.m., Eastern time, on a date prior to the Effective Time to be mutually agreed to by the Company and Parent (the “Election Deadline”), an Election Form
properly