Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 434

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 434
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 of employment or engagement with such Company whereby such employee or independent contractor (i) acknowledges such
Company’s exclusive ownership of all Intellectual Property invented, created, or developed by such employee or independent contractor
within the scope of his or her employment or engagement with such Company; (ii) grants to such Company a present, irrevocable assignment
of any ownership interest such employee or independent contractor may have in or to such Intellectual Property, to the extent such Intellectual
Property does not constitute a “work made for hire” under applicable Law; and (iii) irrevocably waives any right or interest,
including any moral rights, regarding any such Intellectual Property, to the extent permitted by applicable Law. All assignments and other
instruments necessary to establish, record, and perfect such Company’s ownership interest in the Company Registered IP have been
validly executed, delivered, and filed with the relevant Governmental Authorities and authorized registrars. Neither the execution, delivery
or performance of this Agreement, nor the consummation of the transactions contemplated hereunder, will result in the loss or impairment
of, or require the consent of any other Person in respect of, such Company’s right to own or use any Intellectual Property.

(b) Such Company has a valid
and enforceable right or license to use all Company Registered IP and such Company has a valid and enforceable right or license to use
all Intellectual Property that is the subject of a Company IP License applicable to such Company. The Company IP Licenses include all
of the licenses, sublicenses and other agreements or permissions necessary to operate such Company as presently conducted. Such Company
has performed all obligations imposed on it in the Company IP Licenses, has made all payments required to date, and such Company is not,
nor, to the Knowledge of such Company, is any other party thereto, in breach or default thereunder, nor has any event occurred that with
notice or lapse of time or both would constitute a default thereunder. The continued use by such Company of the Intellectual Property
that is the subject of the Company IP Licenses in the same manner that it is currently being used is not restricted by any applicable
license of such Company. All registrations for Copyrights, Patents, Trademarks and Internet Assets that are owned by or exclusively licensed
to such Company are valid, in force and in good standing with all required fees and maintenance fees having been paid with no Actions
pending, and all applications to register any Copyrights, Patents and Trademarks are