Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 495

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 495
---
 the basis for such termination, including the
provision of Section 10.1 under which such termination is made. In the event of the valid
termination of this Agreement pursuant to Section 10.1, this Agreement shall forthwith
become void, and there shall be no Liability on the part of any Party or any of their respective Representatives, and all rights and obligations
of each Party shall cease, except: (i) Sections 7.15 (Public Announcements), 10.3
(Fees and Expenses), 11.1 (Waiver of Claims Against Trust), ARTICLE XII (Miscellaneous),
this Section 10.2 (Effect of Termination) and Section 12.3 (Third Parties) shall survive the termination of this Agreement, and (ii) nothing herein shall relieve any Party from Liability
for any willful breach of any representation, warranty, covenant or obligation under this Agreement or any Fraud Claim against such Party,
in either case, prior to termination of this Agreement (in each case of clauses (i) and (ii) above, subject to Section 11.1). Without limiting the foregoing, and except as provided in Section 10.3 and
this Section 10.2 (but subject to Section 11.1)
and subject to the right to seek injunctions, specific performance or other equitable relief in accordance with Section 12.6, the Parties’ sole right prior to the Closing with respect to any breach of any representation, warranty, covenant or
other agreement contained in this Agreement by another Party or with respect to the transactions contemplated by this Agreement shall
be the right, if applicable, to terminate this Agreement pursuant to Section 10.1; provided, however, if, at the time of the termination of this Agreement, the March GL Merger has been consummated and March GL is not in
material uncured breach of this Agreement, the Parties agree that, promptly after receiving a written request from Robert Price, they
will transfer all (100%) of the issued and outstanding capital stock of March GL to the individuals who were shareholders of March GL
immediately before the March GL Merger was completed. This transfer will be free and clear of any Liens and will be carried out under
a purchase and sale agreement and stock power that are in a form and substance reasonably acceptable to Robert Price. The Parties agree
to take all actions and execute all documents necessary to effectuate such transfer promptly following such request.

<div align='center'>A