Company: CWAN
Filing Date: 2025-01-13
Form Type: 425
Source: 0001193125-25-004988
Chunk: 28

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-01-13
Form: 425
Chunk 28
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 of
October 19, 2021.

“Order” means, with respect to any Person, any order, injunction, judgment, award or decree,
determination, ruling, writ, stipulation, assessment or other similar requirement enacted, adopted, promulgated or applied by a Governmental Authority that is binding upon or applicable to such Person or its property.

“Out-of-the-MoneyCompany Stock Option” means a Company Stock Option with an exercise price per share that is equal to or greater than the Per Share Cash Consideration.

13

“Parent ClassA Common Stock” means Class A common
stock, par value $0.001 per share, of Parent.

“Parent Common Stock” means, collectively, the Parent Class A Common
Stock, the Parent Class B Common Stock, the Parent Class C Common Stock and the Parent Class D Common Stock.

“Parent Disclosure Schedule” means the disclosure schedule that has been prepared by Parent and delivered to the Company
prior to or simultaneously with the execution of this Agreement.

“Parent Material Adverse Effect” means any Effect that,
individually or in the aggregate with all other Effects, that (i) would reasonably be expected to materially impede, materially delay or prevent Parent’s, Acquirer’s, Merger Sub’s or Merger Sub II’s ability to consummate the
transactions contemplated by this Agreement or (ii) has had, or would reasonably be expected to have, a material adverse effect on the business, financial condition, assets, liabilities or results of operations of Parent and its Subsidiaries,
taken as a whole; , , that none of the following (alone or in combination) shall constitute or be taken into account in determining whether a Parent Material Adverse Effect has occurred or would reasonably be expected to
occur pursuant to the foregoing clause (ii):

A. the negotiation, execution, announcement or performance of this Agreement or the pendency
or consummation of the Mergers or the other transactions contemplated by this Agreement (including, solely to the extent it relates to the foregoing, any loss of or adverse change in the relationship of Parent and its Subsidiaries with their
respective employees, investors, contractors, lenders, customers, technology and other partners, suppliers, vendors or Governmental Authorities or other Third Parties related thereto); , that no effect shall be given to this clause
(A) for purposes of any representation or warranty in or the condition to Closing in to the extent relating to any such representation or warranty;

B. general