Company: CWAN
Filing Date: 2025-12-22
Form Type: DEFA14A
Source: 0000950157-25-001018
Chunk: 4

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-12-22
Form: DEFA14A
Chunk 4
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 commitment from Parent to effect revisions to the terms of the Transactions delivered by Parent in accordance with the terms of the Merger Agreement) and (ii) is reasonably capable of being completed in accordance with the terms of such Takeover Proposal, taking into account all legal, regulatory, financial, financing and other aspects of such proposal (including the terms and sources of financing, market conditions, the form of consideration and the timing of and conditions to consummating such transaction) and of the Merger Agreement. On the terms and subject to the conditions set forth in the Merger Agreement, prior to obtaining the approval by the Company’s stockholders, the Board or any duly authorized committee thereof may, among other things, (i) change its recommendation that the Company’s stockholders adopt the Merger Agreement or (ii) terminate the Merger Agreement to enter into a definitive acquisition agreement providing for a Superior Proposal, subject to complying with notice and other specified conditions, including giving Parent the opportunity to propose revisions to the terms of the Merger Agreement during a match right period. Notwithstanding a change in the recommendation by the Board, unless the Company terminates the Merger Agreement, the Company is still required to convene the meeting of its stockholders to vote on the adoption of the Merger Agreement. The Merger Agreement contains certain termination rights for the Company and Parent, including, among others, the right of (i) either party to terminate the Merger Agreement if the Merger is not consummated by September 20, 2026 (as such date may be extended), (ii) the Company to terminate the Merger Agreement in order to enter into a definitive acquisition agreement providing for a Superior Proposal and (iii) Parent to terminate the Merger Agreement if the Board or the Special Committee changes its recommendation with respect to the Merger Agreement. Upon termination of the Merger Agreement under specified circumstances, the Company will be required to pay Parent a termination fee. If the termination fee becomes payable as a result of the Company terminating the Merger Agreement in order to enter into a definitive acquisition agreement providing for a Superior Proposal (i) with any person (other than a Disallowed Party) prior to the expiration of the Go-Shop Period or (ii) with an Excluded Party prior to the expiration of the Go-Shop Extension Period, the amount of the termination fee will be $111,670,000. If the termination fee becomes payable in other circumstances, the amount of the termination fee will be $241,950,000. If the Mer