Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 469

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 469
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 the Closing.

7.6 Registration Rights.The Merger Consideration, Holdco Warrants, and the Holdco Common Stock underlying Holdco Warrants shall be registered in the
registration statement on Form S-4 filed in connection with the Mergers. In the event the registration statement on Form S-4 is not filed
or any of the aforementioned securities cannot be registered therein, HoldCo shall enter into a registration rights agreement with the
holders of Merger Consideration, Holdco Warrants, and the Holdco Common Stock prior to the Closing, providing for automatic registration
within two (2) weeks of Closing, three (3) demand rights, and unlimited piggyback rights.”

7.7 No Solicitation.For purposes of this Agreement, (i) an “Acquisition Proposal” means any inquiry, proposal or offer, or any
indication of interest in making an offer or proposal, from any Person or group at any time relating to an Alternative Transaction, and
(ii) an “Alternative Transaction” means (A) with respect to the Companies and their respective Affiliates, a
transaction (other than the transactions contemplated by this Agreement) concerning the sale of (x) all or any material part of the business
or assets of either Company (other than in the ordinary course of business consistent with past practice) or (y) any of the shares or
other equity interests or profits of either Company, in any case, whether such transaction takes the form of a sale of shares or other
equity interests, assets, merger, consolidation, issuance of debt securities, management Contract, joint venture or partnership, or otherwise
and (B) with respect to the Purchaser and its Affiliates, a transaction (other than the transactions contemplated by this Agreement) concerning
a Business Combination involving Purchaser. For the avoidance of doubt, an “Alternative Transaction” does not include any
PIPE Investment in accordance with ARTICLE XIII.

7.8 Equity Incentive Plan.HoldCo shall adopt an equity incentive plan (the “Equity Incentive Plan”) providing for the issuance
of awards covering up to ten percent (10%) of the outstanding shares of common stock of the combined company on a fully diluted basis
as of the Closing. The Equity Incentive Plan shall permit the grant of a variety of equity-based awards, including, without limitation,
stock options, restricted stock, restricted stock units, stock appreciation rights, and other equity or equity-based awards as may be
determined by the board