Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 396

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 396
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 periods at and after the Pelican Merger Effective Time as the “Surviving Pelican Company”),
and a wholly-owned subsidiary of Holdco.

(c) Upon the terms and subject
to the conditions of this Agreement, immediately following the consummation of the Pelican Merger on the Closing Date and in accordance
with the applicable provisions of the TBOC, Greenland Merger Sub and Greenland shall consummate the Greenland Merger, pursuant to which
Greenland Merger Sub shall be merged with and into Greenland, following which the separate corporate existence of Greenland Merger Sub
shall cease and Greenland shall continue as the surviving corporation (sometimes referred to herein for the periods at and after the Greenland
Merger Effective Time as the “Surviving Greenland Company”) and a wholly-owned subsidiary of Holdco.

<div align='center'>A-5</div>

(d) Upon the terms and subject
to the conditions of this Agreement, immediately following the consummation of the Greenland Merger on the Closing Date and in accordance
with the applicable provisions of the TBOC, March GL Merger Sub and March GL shall consummate the March GL Merger, pursuant to which March
GL Merger Sub shall be merged with and into March GL, following which the separate corporate existence of March GL Merger Sub shall cease
and March GL shall continue as the surviving corporation (sometimes referred to herein for the periods at and after the March GL Merger
Effective Time as the “Surviving March GL Company”) and a wholly-owned subsidiary of Holdco.

(e) Upon the terms and subject
to the conditions of this Agreement and the Contribution Agreement, immediately following the consummation of the March GL Merger on the
Closing Date and in accordance with the applicable provisions of the TBOC, Holdco shall contribute the March GL Common Stock to Greenland,
thereby causing March GL to become a wholly-owned subsidiary of Greenland.

1.2 Effective Time.

(a) The Parties hereto shall
cause the Pelican Merger to be consummated by filing the Certificate of Merger for the merger of Pelican Merger Sub with and into Purchaser,
in a form to be mutually agreed upon by the Companies and Purchaser (the “Texas Certificate of Merger”), with
the Secretary of State of the State of Texas in accordance with the relevant provisions of the TBOC and by filing the Plan of Merger to
be entered into between the Purchaser and Pelican Merger Sub and all other required declarations and documentations