Company: NKLR
Filing Date: 2025-05-14
Form Type: S-4
Source: 0001213900-25-043376
Chunk: 348

Company: Terra Innovatum Global N.V.
Filing Date: 2025-05-14
Form: S-4
Chunk 348
---
 or the partial or full release of any such reserve will require a prior proposal from 178 the PubCo board of directors and a resolution of the meeting of holders of PubCo Preferred Shares, and will be made exclusively to the holders PubCo Preferred Shares in proportion to the aggregate nominal value of such PubCo Preferred Shares. Distributions will be payable on the day determined by the PubCo board of directors. Distributions will lapse if the distributions are not claimed within five years and one day following the date when they became payable. Board of Directors PubCo Board of Directors Composition Pursuant to the PubCo Articles of Association, PubCo will have a one -tierboard consisting of one or more PubCo executive directors and two or more PubCo non -executivedirectors. The PubCo board of directors will determine the number of PubCo executive directors and PubCo non -executivedirectors, provided that the majority of the PubCo board of directors will consist of PubCo non -executivedirectors. The PubCo board of directors will initially be composed of seven members, and shall be composed as described in “ Board of Directors and Senior Management of PubCo After the Business Combination — Board of Directors of PubCo.” The PubCo board of directors is the executive and supervisory body of PubCo. It is entrusted with the management of PubCo, supervises the general course of affairs in PubCo and the business affiliated with PubCo and is responsible for the continuity of PubCo. The PubCo board of directors is accountable for these matters to the PubCo general meeting. The PubCo board of directors’ responsibilities include, among other things, developing a view on sustainable long -termvalue creation by PubCo, determining PubCo’s strategy and risk management policy, appointing and dismissing the senior internal auditor, annual assessment of the way in which the internal audit function fulfils its responsibility and approving the audit plan drawn up by the internal audit function, ensuring compliance with legislation and regulations and the corporate governance structure of PubCo, publishing the corporate structure of PubCo and any other information required under the Dutch Civil Code. The PubCo board of directors may allocate its duties and powers among the PubCo directors and the committees of the PubCo board of directors in accordance with the PubCo board regulations or otherwise in writing. The PubCo executive directors will primarily be responsible for all day -to -dayoperations of PubCo. The PubCo non -executivedirectors will, among others, supervise (i) the Pub