Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 109

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1
Chunk 109
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 the grants of restricted
stock to Mr. Dickerson and Mr. Riley, which are as follows: (i) subject to approval by the Board and the Compensation Committee, in lieu
of an annual grant of restricted stock, Mr. Dickerson will receive an initial grant of restricted stock equal to the number of shares
determined by dividing $2,000,000 by the closing price of the Class A Common Stock on the date of grant, and such grant of restricted
stock will vest in full on the third anniversary of the grant date, subject to acceleration in accordance with the terms of the restricted
stock award or the Company’s 2024 Incentive Award Plan, and (ii) subject to approval by the Board and the Compensation Committee,
Mr. Riley will receive an annual grant of restricted stock equal to the number of shares determined by dividing $50,000 by the closing
price of the Class A Common Stock on the date of grant.

The grants of restricted stock to each of Mr. Dickerson, Ms. Steele,
Mr. Riley, Mr. Peperzak, and Mr. Reardon pursuant to the Director Agreements were deferred by the Board.

Holdco Incentive Plan

On December 19, 2024,
prior to the completion of the Business Combination, Holdco’s sole director and sole shareholder approved the Rain Enhancement Technologies
Holdco, Inc. 2024 Equity Incentive (the “2024 Incentive Plan”) under which Holdco may grant equity and equity-based incentive
awards to officers, employees, non-employee directors and consultants. Pursuant to its terms, the 2024 Incentive Plan became effective
on December 31, 2024, upon the Closing.

Administration. The
Compensation Committee of the Board (the “Committee”) will administer the 2024 Incentive Plan. The Committee will generally
have the authority to designate participants, determine the type or types of awards to be granted to a participant, determine the terms
and conditions of any agreements evidencing any awards granted under the 2024 Incentive Plan, accelerate the vesting or exercisability
of, payment for or lapse of restrictions on, awards and to adopt, alter and repeal rules, guidelines and practices relating to the 2024
Incentive Plan. The Committee will have full discretion to administer and interpret the 2024 Incentive Plan and to make any other determinations
and/or take any other action that it