Company: MACIW
Filing Date: 2025-08-05
Form Type: 8-K
Source: 0001104659-25-074242
Chunk: 11

Company: Melar Acquisition Corp. I/Cayman
Filing Date: 2025-08-05
Form: 8-K
Item: Item 1.01
Chunk 11
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whether any such transaction described in clauses (i) or (ii) above is to be settled by delivery of Melar restricted securities or other
securities, in cash or otherwise (in each case, subject to certain limited permitted transfers where the recipient takes the shares subject
to the restrictions in the Lock-Up Agreement).

A copy of the Lock-Up Agreement
is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference, and the foregoing description of
the Lock-Up Agreement is qualified in its entirety by reference thereto.

Non-Competition Agreement

Simultaneously with the execution
and delivery of the Merger Agreement, Palella Holdings entered into a non-competition and non-solicitation agreement (the “Non-Competition
Agreement”) in favor Everli and Melar and their respective present and future successors and direct and indirect subsidiaries
(collectively, the “Covered Parties”). Under the Non-Competition Agreement, pursuant to which Palella Holdings
agrees not to compete with Melar, Everli and their respective affiliates during the two-year period following the Closing and, during
such two-year restricted period, not to solicit employees or customers of such entities. The Non-Competition Agreement also contains customary
confidentiality and non-disparagement provisions.

A
copy of the Non-Competition Agreement is filed as Exhibit 10.3 to this Current Report on Form 8-K and is incorporated herein by reference,
and the foregoing description of the Non-Competition Agreement is qualified in its entirety by reference thereto.

Form of Registration
Rights Agreement

In connection
with the Closing, Melar and certain of the Everli shareholders who are expected to be Affiliates of Melar immediately after the Closing
will enter into a Registration Rights Agreement (the “Registration Rights Agreement”), pursuant to which such
Everli shareholders will be granted certain registration rights with respect to their shares of Melar common stock received as Merger
Consideration as such terms are defined thereunder, on the terms and subject to the conditions set forth in the Registration Rights Agreement.

A
copy of the Form of Registration Rights Agreement is filed as Exhibit 10.4 to this Current Report on Form 8-K and is incorporated herein
by reference, and the foregoing description of the Form of Registration Rights Agreement is qualified in its entirety by reference thereto.

Insider Letter Agreement
Amendment

Simultaneously or prior to
the Closing, Melar and the