Company: TIPT
Filing Date: 2025-10-17
Form Type: PREM14A
Source: 0001140361-25-038514
Chunk: 101

Company: TIPTREE INC.
Filing Date: 2025-10-17
Form: PREM14A
Chunk 101
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 positions with respect to, among other things, (i) the proposed profit sharing mechanism, (ii) the closing condition with respect to the continued employment of Mr. Kahlbaugh and Mr. Rattner and (iii) the amount of the proposed termination fees (including the termination fee payable in the event that the Merger Agreement is terminated as a result of the failure to obtain the Tiptree stockholder approval).

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#### TABLE OF CONTENTS
On September 16, 2025, Ropes & Gray shared a revised draft of the Merger Agreement (the “September 16 Merger Agreement Draft”) with Latham reflecting, among other changes, (i) a profit sharing mechanism pursuant to which either (A) in the event that the closing date occurs following May 1, 2026, the purchase price would be increased at a rate of eight percent per annum on $1.65 billion, such increase accruing from May 1, 2026 until the closing, or (B) in the event that the closing date occurs following June 1, 2026, the purchase price would be increased at a rate of ten percent per annum on $1.65 billion, such increase accruing from June 1, 2026 until the closing, allowing Purchaser to choose its preferred alternative, (ii) a narrower definition of Transaction Expenses that would constitute Leakage, (iii) the deletion of the closing condition that specified employment agreements for Mr. Kahlbaugh and Mr. Rattner remain in full force and effect and (iv) the deletion of a closing condition related to the obtaining of any additional required regulatory approvals that the parties may identify during the period between the date of the Merger Agreement and the closing.

On September 17, 2025 and September 18, 2025, a representative of the WP Investor and a representative of Purchaser held calls to discuss Purchaser’s feedback on the September 16 Merger Agreement Draft. Also on September 18, 2025, representatives of Barclays and BofA Securities and Goldman Sachs as well as representatives of Ropes & Gray, Sidley and Latham held separate calls to discuss Purchaser’s feedback on the September 16 Merger Agreement Draft.

On September 19, 2025, Latham shared a revised draft of the Merger Agreement (the “September 19 Merger Agreement Draft”) with Ropes & Gray, reflecting, among other changes, (i) a broader