Company: RAIN
Filing Date: 2025-08-14
Form Type: 424B3
Source: 0001213900-25-076764
Chunk: 40

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-08-14
Form: 424B3
Chunk 40
---
 under the LOC, bringing the total outstanding balance under the Loan Agreement to approximately $5.5 million (including
the $3.1 million Rollover). Subsequent to June 30, 2025, we drew an additional amount of approximately $354,000 under the LOC.

As of June 30, 2025 and December 31, 2024, we
had an outstanding accrued interest balance in connection with both the Note and the LOC of approximately $118,000 and $38,000, respectively.

Employment Agreement

Effective January 2, 2025, we entered into a binding
offer letter (the “Offer Letter”), which was later amended on June 27, 2025, with our new CEO, Mr. Seidl. Pursuant to the
amended Offer Letter, we agreed to pay to the CEO (i) an annual salary of $500,000, (ii) an annual incentive bonus up to 200% of his base
salary, subject to Board approval, and (iii) a cash bonus of $5.82 million (the “Retention Bonus”) payable on the earlier
of (x) December 31, 2028, (y) the date on which we terminate the CEO’s employment without cause, or (z) the date on which a change
of control is consummated. We accrue the Retention Bonus over the period of service. As of June 30, 2025, we accrued approximately $14,000
of Retention Bonus in accrued expenses to related party in the accompanying unaudited condensed consolidated balance sheet.

In addition, subject to approval by the Board
and the Compensation Committee, Mr. Seidl is also entitled to equity awards under our equity incentive plan. As of June 30, 2025, no equity
awards have been granted.

Board Agreement

On April 1, 2025, the Board increased the size
of the Board from five to seven directors and appointed Mr. Marcus Peperzak and Mr. Robert Reardon to the Board to fill the resulting
vacancies.

In connection with their appointments to the Board,
Mr. Reardon and Mr. Peperzak each entered into the Director Agreements which are the form of agreement adopted by the Board in April 2025
to govern the terms of service and compensation of our company’s non-employee directors. Additionally, effective as of April 4,
2025, we entered into Director Agreements