Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 148

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 148
---
);  
 a material diminution of executive’s authority, duties or responsibilities; or any           
 other action or inaction that constitutes a material breach by Terra of the agreement under  
 which the executive provides services (e.g., failure of successor to assume the employment   
 agreement or breach of same).                                                                |

The employment agreements also provide that,
regardless of whether the NEO’s employment is terminated, if there is a change in control and

| (i) | if the successor does                                                                 
 not assume Terra’s annual incentive plan, the annual bonus will be paid in the amount 
 of the target bonus;                                                                  |

| (ii) | if the successor                                                                           
 does not assume any outstanding retention awards, then such awards will become immediately 
 fully vested;                                                                              |

| (iii) | if the successor                                                                                      
 does not assume the equity compensation plan in which the executive participates or grant             
 comparable awards in substitution of the outstanding awards under any such plan, then any             
 outstanding equity-based compensation awards granted to the executive under such plan, other          
 than performance-based equity awards, will become immediately fully vested, and any performance-based 
 equity awards will immediately vest assuming target performance.                                      |

<div align='center'>88</div>

Board Fees Payable in Cash

NEOs who are also directors of Terra will receive
no additional compensation for serving on the Board of Directors. It is anticipated that non-executive directors will receive the following
compensation and other benefits:

| ● | The Chairperson                                                                                  
 of the Board, who will be a non-executive director, will receive an annual base fee for services 
 in the amount of $120,000;                                                                       |

| ● | Annual Base Fees for Services by all non-executive directors of $80,000 
 payable in cash on a quarterly basis;                                   |

| ● | Non-executive                                                                                
 directors serving on board committees will each receive $15,000, on an annual basis, payable 
 quarterly in cash for each committee on which they serve; and                                |

Non-executive directors chairing a board committee
will each receive $5,000 on an annual basis, payable quarterly in cash (in addition to the $15,000 fees payable for serving on each board
committee).

Equity Incentive Awards

While the exact number and type of award has not
yet been determined, an initial award in the form of RSUs or options equal to one year’s base fees will be issued to each non-executive
director upon consummation of the Business Combination. The