Company: CWAN
Filing Date: 2025-03-06
Form Type: S-4/A
Source: 0001193125-25-048570
Chunk: 182

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-06
Form: S-4/A
Chunk 182
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 the right to receive the Merger Consideration will be entitled to receive the Merger Consideration in respect of the Eligible Shares represented by a Stock
Certificate, as promptly as reasonably practicable (and in any event within three business days), upon (i) surrender to the Exchange Agent of a Stock Certificate, together with a duly completed and validly executed letter of transmittal in
accordance with the instructions thereto, or (ii) receipt of an “agent’s message” by the Exchange Agent (or such other evidence, if any, of transfer as the Exchange Agent may reasonably request) in the case of a book-entry
transfer of Eligible Shares, and, in each case, delivery to the Exchange Agent of such other documents as may reasonably be requested by the Exchange Agent. Until so surrendered or transferred, each such Stock Certificate will represent after the
Effective Time only the right to receive Merger Consideration. No interest will be paid or accrued on the cash payable upon the surrender or transfer of such Stock Certificate.

TRA Amendment

In connection with Enfusion’s IPO in October 2021, Enfusion entered into the TRA on October 19, 2021, with Enfusion OpCo and the TRA
Parties. The TRA provided for the payment by Enfusion to such TRA Parties of 85% of the benefits, if any, that Enfusion actually realizes, or is deemed to realize (calculated using certain assumptions),

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as a result of: (i) existing tax basis acquired in the IPO; (ii) increases in existing tax basis and adjustments to the tax basis of the tangible and intangible assets of Enfusion OpCo
as a result of sales or exchanges (or deemed exchanges) of Enfusion Common Units for shares of Enfusion Common Stock or distributions (or deemed distributions) with respect to Enfusion Common Units in connection with or after the IPO;
(iii) Enfusion’s utilization of certain tax attributes of certain entities that are taxable as corporations for U.S. federal income tax purposes in which the TRA Parties hold interests; and (iv) certain other tax benefits related to
entering into the TRA, including tax benefits attributable to payments under the TRA.

In addition, the TRA provides that if certain
changes of control were to occur, the TRA would terminate and Enfusion’s payment obligations to TRA Parties would accelerate, resulting in an early termination payment by Enfusion. The consummation of the Transactions will constitute a change