Company: NKLR
Filing Date: 2025-11-10
Form Type: S-1
Source: 0001213900-25-108246
Chunk: 192

Company: Terra Innovatum Global N.V.
Filing Date: 2025-11-10
Form: S-1
Chunk 192
---
ification, however, only has internal effect and does not affect the external representation.

Liability of Directors

Pursuant to Dutch law, each Terra director may
be held jointly and severally liable to Terra for damages in the event of improper or negligent performance of his or her duties. Furthermore,
Terra directors may be held liable to third parties based on tort pursuant to certain provisions of the Dutch Civil Code. All Terra directors
will be jointly and severally liable for failure of one or more co-directors. An individual Terra director will only be exempt from liability
if he or she proves that he or she cannot be held culpable for the mismanagement and that he or she has not been negligent in seeking
to prevent the consequences of the mismanagement. In this regard a Terra director may, however, refer to the allocation of tasks among
the Terra directors. In certain circumstances, including in the event of bankruptcy of the Company, directors may incur additional specific
civil and criminal liabilities.

Board Regulations

Pursuant to the Terra Articles of Association, the
Terra board of directors shall adopt regulations dealing with its internal organization, the manner in which decisions are taken, the
composition, the duties and organization of committees of the Terra board of directors and any other matters concerning the Terra board
of directors, Terra directors and committees established by the Terra board of directors.

Decision-making

Pursuant to the Terra board regulations, the Terra
board of directors will strive to adopt its resolutions by unanimous vote. If this is not possible, resolutions will be adopted by a majority
of votes cast, unless provided otherwise by the Terra board regulations. In the event of a tied vote, the proposal will be rejected, unless
the Terra board regulations provide otherwise. Each Terra director shall have one vote.

<div align='center'>114</div>

Resolutions of the Terra board of directors shall
be adopted by a simple majority of the votes cast, unless these Terra Articles of Association or the Terra board regulations provide for
a qualified majority.

The Terra Articles of Association and Dutch law
provide that resolutions of the Terra board of directors regarding a significant change in Terra’s identity or nature or the enterprise
connected with it are subject to the approval of the Terra general meeting. Such resolutions include in any event: (i) the transfer
of the business enterprise of Terra or practically the entire business enterprise of Terra to a third party; (ii) concluding or cancelling
a long-lasting cooperation of Terra or a subsidiary with another legal entity or company