Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 441

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 441
---
 such date (i) the
employee’s name, job title or description, employer, location, salary or hourly rate; and (ii) wages, bonus, commission or other
compensation paid during the fiscal year ending December 31, 2024. Except as set forth on Schedule 4.18(c), (A) no employee is a
party to a written employment Contract with such Company that is not terminable “at will,” and (B) such Company has paid in
full to all its employees all wages, salaries, commission, bonuses and other compensation due to their employees, including overtime compensation,
and such Company has no obligation or Liability (whether or not contingent) with respect to severance payments to any such employees under
the terms of any written or, to such Company’s Knowledge, oral agreement, or commitment or any applicable Law, custom, trade or
practice. Except as set forth in Schedule 4.18(c), each employee of such Company has entered into such Company’s standard form of
employee non-disclosure, inventions and restrictive covenants agreement with such Company (whether pursuant to a separate agreement or
incorporated as part of such employee’s overall employment agreement), a copy of which has been made available to Purchaser by such
Company.

(d) Schedule 4.18(d) contains
a list of all independent contractors (including consultants) currently engaged by such Company, along with a description of the general
nature of the work performed, date of retention and rate of remuneration, most recent increase (or decrease) in remuneration and amount
thereof, for each such Person. Except as set forth on Schedule 4.18(d), all of such independent contractors are a party to a written Contract
with such Company. Except as set forth on Schedule 4.18(d), each such independent contractor has entered into customary covenants regarding
confidentiality and assignment of inventions and copyrights in such Person’s agreement with such Company, a copy of which has been
provided to Purchaser by such Company. For the purposes of applicable Law, including the Code, all independent contractors who are currently,
or within the last six (6) years have been, engaged by such Company are bona fide independent contractors and not employees of such Company.
Each independent contractor is terminable on fewer than thirty (30) days’ notice, without any obligation of such Company to pay
severance or a termination fee.

4.19 Benefit Plans.

(a) “