Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 120

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 120
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 the applicable
Conversion Period, the applicable share price triggers have not been achieved, (ii) PubCo enters into a definitive agreement
that would result in a Change of Control transaction, and (iii) (x) the price per share of PubCo Ordinary Shares payable
to the shareholders of PubCo in such Change of Control transaction, the Change of Control Offer Price, is greater than $5.00 per
share, then as of immediately prior to the closing of such Change of Control transaction, (A) the applicable share price
triggers that have not been achieved shall be deemed to have been satisfied, and (B) the Vesting Sponsor Shares which have not
vested, shall immediately vest as if such Change of Control Offer Price constituted the applicable share price trigger pursuant to
the Sponsor Support Agreement, in full and final satisfaction of Sponsor’s rights to receive the Vesting Sponsor Shares
described above; or (y) the Change of Control Offer Price is less $5.00 per share but greater than $2.50 per share, then as of
immediately prior to the closing of such Change of Control transaction, half of the Vesting Sponsor Shares which have not vested,
shall immediately vest, in full and final satisfaction of Sponsor’s rights to receive the Vesting Sponsor Shares pursuant to
the Sponsor Support Agreement. Notwithstanding anything to the contrary in this Sponsor Agreement, if PubCo Preferred Shares are
otherwise converted into PubCo Ordinary Shares and distributed to Terra OpCo Quotaholders, a pro rata portion of the Vesting Sponsor
Shares shall immediately vest and no longer be subject to the forfeiture conditions provided in this Sponsor Agreement.

If, upon the expiration of the applicable Conversion Period,
the vesting of any of Vesting Sponsor Shares has not occurred, then the applicable Vesting Sponsor Shares that failed to vest will be
automatically forfeited and transferred to PubCo for no consideration.

The table below presents the exchange of Terra Innovatum Global
quotas for PubCo Ordinary Shares that occurred upon the Conversion:

| Terra Innovatum Global quotas      
 outstanding as of June 30, 2025(1) |     |     | Common Conversion Ratio(2) |         |     | PubCo Ordinary                   
 Shares issued to Terra Innovatum 
 Quotaholders upon Closing        |            |
|                                    | 100 |     |                            | 475,000 |     |                                  | 47,500,000 |

| (1) | Represents quotas held by legacy Terra Innovatum Global Qu