Company: RAIN
Filing Date: 2025-01-31
Form Type: S-1
Source: 0001213900-25-008536
Chunk: 145

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-31
Form: S-1
Chunk 145
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 compensation programs of Holdco following the completion of the Business Combination, which may differ materially from the programs summarized or referred to in this discussion, see “- Director and Officer Compensation of Holdco.”

As an emerging growth company and smaller reporting company, SEC rules require that we make compensation disclosure for our principal executive officer and two other most highly compensated executive officers, referred to in this section as our named executive officers.

Introduction

The primary objective of RET’s executive compensation program is to attract and retain talented executives to effectively manage and lead the company.

Our named executive officers for 2024 were:

| ● | Paul                          
 T. Dacier, Executive Chairman |

| ● | Chris                          
 Riley, Chief Executive Officer |

Summary Compensation Table

No named executive officer received compensation for services rendered to us during 2024. RET’s non-employee directors did not receive any compensation from RET during 2024. On August 22, 2024, the RET Board approved the adoption of an equity incentive plan (the “2024 Equity Incentive Plan”). Prior to the Business Combination closing, the 2024 Equity Incentive Plan allowed up to 2,000 shares of RET’s Class A common stock, with an exercise price of not less than 100% of the fair market value on the date the awards are granted.

RET Executive Employment Agreement

On June 26, 2024, RET entered into an employment agreement (the “Employment
Agreement”) with Christopher Riley for the position of Chief Executive Officer. The Employment Agreement was terminated effective
as of January 30, 2025, as discussed in more detail below. While in effect, the Employment Agreement provided for “at-will”
employment and became effective on December 10, 2024 (the “Effective Date”). Prior to the Effective Date, Mr. Riley was to
be compensated at an hourly rate for services performed relating to the Company’s commercial operation (the “Hourly Services”).
After the Effective Date, Mr. Riley was to be paid an annual base salary of $500,000, paid in accordance with RET’s customary payroll
practices. Mr. Riley’s base salary was subject to review after RET has generated at least $100 million in revenue in any fiscal
year, and he was eligible for an annual cash bonus of up to 200% of his base salary contingent on Company and personal performance goals
established by the board of directors or the compensation committee of the board of directors. In addition, the Employment Agreement provided