Company: TRUE
Filing Date: 2025-10-15
Form Type: DEFA14A
Source: 0001104659-25-099555
Chunk: 9

Company: TrueCar, Inc.
Filing Date: 2025-10-15
Form: DEFA14A
Chunk 9
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costs and fees owed to third parties in connection with the consideration, negotiation or consummation of the Merger Agreement or the
Transactions (“Parent Transaction Expenses”); provided that such reimbursement obligations of the Company shall not
exceed $3,000,000 in the aggregate.

Parent will be required to pay the Company a termination
fee of $15,000,000 (the “Parent Termination Fee”) if the Merger Agreement is terminated under specified circumstances,
including if the Company terminates the Merger Agreement because of a failure of Parent to consummate the Merger when required to do so
by the Merger Agreement or because of Parent’s or Merger Subsidiary’s uncured breach of the Merger Agreement that would cause
certain closing conditions not to be satisfied. If the Parent Termination Fee is payable pursuant to the Merger Agreement, then Parent’s
obligation to pay such amount will be satisfied by the Company’s permanent retention of the Deposit Amount.

The Merger Agreement also provides that the Company,
on the one hand, and Parent and Merger Subsidiary, on the other hand, may specifically enforce the obligations under the Merger Agreement,
except that the Company may only pursue specific performance to cause Parent and Merger Subsidiary to consummate the Closing if certain
conditions are satisfied, including the satisfaction of the Additional Financing Condition in the Equity Commitment Letter (defined below).

Stock Exchange Delisting; Deregistration

If the Closing occurs, the Company Stock will be
delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Equity Commitment Letter

In connection with the execution of the Merger
Agreement, on October 14, 2025, Parent entered into an Equity Commitment Letter (the “Equity Commitment Letter”)
with the Investor, pursuant to which the Investor (a) has committed to fund the Commitment on the terms and subject to the conditions
set forth in the Equity Commitment Letter and (b) deposited, as an advance against the Commitment and security for the Parent Termination
Fee, the Deposit Amount (together with the other transactions contemplated by the Equity Commitment Letter, the “Equity Financing”).

The Investor’s obligation to fund the Commitment
(other than the Deposit Amount) is conditioned upon the satisfaction of certain conditions precedent, including, without limitation, (i) the
satisfaction or waiver (to