According to documents submitted by Conduent Inc to the U.S. Securities and Exchange Commission (SEC), the buyer in the related transaction will retain a holdback amount of 10 million dollars for one year, as well as an additional special holdback amount of 12 million dollars.
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This arrangement is typically intended to provide financial security for specific obligations or potential risks following the completion of a transaction. The holdback mechanism is common in merger and acquisition transactions and helps address possible adjustments or claims that may arise during the agreed period. Documentation shows that this clause has been included in the final agreement reached by both parties.
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