Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 446

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 446
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 to Purchaser all environmentally related site assessments, audits, studies, reports, analysis and results
of investigations that have been performed in respect of the currently or previously owned, leased, or operated properties of such Company.

<div align='center'>A-39</div>

4.21 Transactions with Related Persons.Except as set forth on Schedule 4.21, neither such Company nor any of its Affiliates, nor any officer, director,
manager, employee, trustee or beneficiary of such Company or any of its Affiliates, nor any immediate family member of any of the foregoing
(whether directly or indirectly through an Affiliate of such Person) (each of the foregoing, a “Related Person”)
is presently, or in the past two (2) years, has been, a party to any transaction with such Company, including any Contract or other arrangement
(a) providing for the furnishing of services by (other than as officers, directors or employees of such Company), (b) providing for the
rental of real property or Personal Property from, or (c) otherwise requiring payments to (other than for services or expenses as directors,
officers or employees of such Company in the ordinary course of business consistent with past practice) any Related Person or any Person
in which any Related Person has an interest as an owner, officer, manager, director, trustee or partner or in which any Related Person
has any direct or indirect interest (other than the ownership of securities representing no more than two percent (2%) of the outstanding
voting power or economic interest of a publicly traded company). Except as set forth on Schedule 4.21, such Company has no outstanding
Contract or other arrangement or commitment with any Related Person, and no Related Person owns any real property or Personal Property,
or right, tangible or intangible (including Intellectual Property) which is used in the business of such Company. The assets of such Company
do not include any material receivable or other obligation from a Related Person, and the liabilities of such Company do not include any
material payable or other obligation or commitment to any Related Person. Schedule 4.21 lists each Contract or other arrangement or commitment
between such Company and any Related Person of such Company. Each Contract or other arrangement listed on Schedule 4.21 was entered into
by such Company at arms’ length and in the ordinary course of business on commercially reasonable terms and is reasonably necessary
for the operation of the business as presently conducted and as currently contemplated to be conducted.

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