Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 496

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 496
---
-74</div>

(b) In addition, if this Agreement
is terminated as a primary result of the actions or inactions of Purchaser, Purchaser shall, or shall cause the applicable Purchaser Shareholder
to, transfer, convey and assign to Greenland one-third (1/3) of the issued and outstanding “Founder Shares”
(as defined in the IPO Prospectus), free and clear of all Liens, as a termination fee (the “Termination Fee”).
The Parties acknowledge and agree that the Termination Fee is intended to compensate Greenland for the time, expense and opportunity costs
incurred in connection with this Agreement and the transactions contemplated hereby and is not a penalty. The Parties agree to take all
actions and execute all documents necessary to effectuate such transfer promptly following such termination.

10.3 Fees and Expenses.Subject to Section 7.18 and 11.1,
all Expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the Party incurring
such expenses. For the avoidance of doubt, the Parties agree that (a) neither Company shall be responsible for the Extension Expenses
associated with any Extensions, (b) the Companies shall also not be responsible for all required filing or similar fees with respect to
any required approval of a Governmental Authority, including, for the avoidance of doubt, any fees to be paid to the SEC or in respect
of the HSR Act, and (c) if the transactions contemplated by this Agreement are consummated, Holdco shall bear all of the Expenses of the
Parties. As used in this Agreement, “Expenses” shall include all out-of-pocket expenses (including without limitation all
fees and expenses of counsel, accountants, investment bankers, financial advisors, financing sources, experts and consultants to a Party
hereto or any of its Affiliates; all filing fees in connection with any approvals required or advisable in connection with the transactions
contemplated by this Agreement; and all fees and expenses of proxy solicitors, Edgarization and filing services, and printing and distribution
of the Proxy Statement) incurred by a Party or on its behalf in connection with or related to the authorization, preparation, negotiation,
execution or performance of this Agreement or any Ancillary Document related hereto and all other matters related to the consummation
of the transactions contemplated by this Agreement. With respect to Purchaser, Expenses shall include any and all deferred expenses (including
fees or commissions payable to the underwriters and any legal