Company: RAIN
Filing Date: 2025-02-11
Form Type: S-1/A
Source: 0001213900-25-012215
Chunk: 4

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-02-11
Form: S-1/A
Chunk 4
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 reasonably believed that his or her conduct was in the
best interest of Holdco or that his or her conduct was at least not opposed to the best interests of Holdco, (C) in the case of any
criminal proceeding, had no reasonable cause to believe his or her conduct was unlawful, or (ii)(A) constituted a breach of the director’s
duty of loyalty to the corporation or its shareholders, (B) involved acts or omissions not in good faith or intentional misconduct
or a knowing violation of law, (C) resulted in an improper distributions under section 6.40 of Chapter 156D of the Massachusetts
General Laws, (D) resulted in the director deriving an improper benefit, or (E) with respect to an employee benefit plan for
a purpose he or she reasonably believed to be in the interests of the participants in, and the beneficiaries of, the plan, was at least
not opposed to the best interests of Holdco.

<div align='center'>II-1</div>

The determination of whether
the relevant standard of conduct have been met shall be made: (a) if there are two or more disinterested directors, by the board
of directors by a majority vote of all the disinterested directors or by a majority of the members of a committee of two or more disinterested
directors appointed by vote; (b) by special legal counsel selected by a majority vote of all the disinterested directors or by a
majority of the members of a committee of two or more disinterested directors appointed by vote; (c) if there are fewer than two
disinterested directors, selected by the board of directors, in which selection directors who do not qualify as disinterested directors
may participate; or (d) by the shareholders (but shares owned by or voted under the control of a disinterested director may not be
voted on the determination).

Holdco is not obligated under
the Holdco A&R Articles to indemnify or advance expenses to a director or officer of a predecessor of Holdco pertaining to conduct
with respect to the predecessor, unless otherwise specifically provided. The Holdco A&R Articles provide that no amendment or repeal
of the indemnification provision of its bylaws or of the relevant provisions of Chapter 156D shall affect or diminish the rights of any
indemnified person to indemnification with respect to any action or proceeding arising out of or relating to any actions occurring prior
to the final adoption of the amendment or repeal. The Hold