Company: RAIN
Filing Date: 2025-01-07
Form Type: 8-K
Source: 0001213900-25-001708
Chunk: 3

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-01-07
Form: 8-K
Item: Item 2.03
Chunk 3
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 Seidl may terminate Mr. Seidl’s
employment at any time for any reason. Upon termination, Mr. Seidl will be entitled to any earned but unpaid base salary and reimbursement
of any expense properly incurred through the date of termination, and, if Mr. Seidl is terminated by Holdco without cause, payment of
the Note.

The
foregoing description of the Offer Letter does not purport to be complete and is qualified in its entirety by
reference to the full text of the Offer Letter

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

Administration. Committee

Eligibility.

Number
of Shares Authorized. ISOs

Shares
of Holdco Class A Common Stock underlying awards under the 2024 Incentive Plan that are forfeited, canceled, expire unexercised
or are settled in cash will be available again for new awards under the 2024 Incentive Plan. If there is any change in Holdco’s corporate
capitalization, the Committee in its sole discretion may make substitutions or adjustments to the number of shares of Holdco Class A
Common Stock reserved for issuance under the 2024 Incentive Plan, the number of shares of Holdco Class A Common Stock covered by
awards then outstanding under the 2024 Incentive Plan, the limitations on awards under the 2024 Incentive Plan, the exercise price of
outstanding options and such other equitable substitutions or adjustments as it may determine appropriate.

The
2024 Incentive Plan has a term of 10 years from the Closing, and no further awards may be granted under the 2024 Incentive Plan after that
date.

Awards
Available for Grant. ISOs SARs RSUs

Stock
Options and Stock Appreciation Rights.

Restricted
Stock.

RSUs.

Other
Stock or Cash-Based Awards.

Dividend
Equivalents.

Performance
Awards.

Transferability.

Amendment
and Termination; Repricing.

Adjustments;
Corporate Transactions.

The information set forth
in the section entitled “ Executive and Director Compensation” beginning on page 312 of the Proxy Statement/Prospectus
is incorporated herein by reference. The foregoing description of the 2024 Incentive Plan and the