Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 160

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 160
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major financial risk exposures. The Compensation Committee is charged with reviewing Holdco’s and RET’s compensation policies
and practices and confirming that they do not encourage risk taking in a manner that would have a material adverse impact on Holdco. The
Nominating and Corporate Governance Committee is responsible for overseeing risks related to Holdco’s and RET’s governance
processes. Each of the Board’s committees reports its findings to the full Board for consideration.

Director Independence

Nasdaq listing rules generally require that a majority of a listed company’s board of directors be independent within one year of listing. An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship which in the opinion of the company’s board of directors, would interfere with the director’s exercise of independent judgment in carrying out the responsibilities of a director. The Board is expected to have a majority of “independent directors” as defined in the Nasdaq listing standards and applicable SEC rules within one year of the Closing.

Committees of the Board of Directors

The Board has three standing committees — an audit committee, a compensation committee and a nominating and corporate governance committee, each comprised of independent directors.

Audit Committee

The Board has an audit committee.
The audit committee consists of Lyman Dickerson. The audit committee is expected to have at least two members within 90 days of the Closing
and at least three members within one year of the Closing who qualify as independent directors under the Nasdaq corporate governance
standards and the independence requirements of Rule 10A-3 under the Exchange Act, is financially literate, and that at least one
member of the audit committee qualifies as an “audit committee financial expert” as defined in applicable SEC rules and has
accounting or related financial management expertise.

The purpose of the audit committee is to prepare the audit committee report required by the SEC to be included in Holdco’s annual meeting proxy statement and to assist the Board in overseeing and monitoring (1) the quality and integrity of the financial statements, (2) compliance with legal and regulatory requirements, (3) Holdco’s independent registered public accounting firm’s qualifications and independence, (4) the performance of Holdco’s internal audit function and (5) the performance of Holdco’s independent registered public accounting firm.

The Board has adopted a written charter for the audit committee, which is available on Holdco’s website.

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Compensation Committee

Holdco has