Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 431

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 431
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 excess of $250,000 (including pursuant to any joint venture);

(xiv) relates to
a material settlement entered into within two (2) years prior to the date of this Agreement or under which such Company has any ongoing
monetary or non-monetary obligations after the date hereof (other than customary confidentiality obligations);

(xv) provides another
Person (other than any manager, director or officer of the Company) with a power of attorney;

(xvi) relates to
development, ownership, licensing or use of any Intellectual Property by, to or from such Company, other than (A) Off-the-Shelf Software,
(B) employee or consultant invention assignment agreements entered into on the Company’s standard form of such agreement, (C) confidentiality
agreements entered into in the ordinary course of business, (D) non-exclusive licenses from customers or distributors to such Company
entered into in the ordinary course of business, (E) feedback and ordinary course trade name or logo rights that are not material to such
Company or (F) any other Contract pursuant to which such Company grants a non-exclusive license or right to use or exploit (including
by means of a covenant not to sue) Company Intellectual Property in the ordinary course of business; or

(xvii) that will
be required to be filed by such Company as a material contract with the Registration Statement under applicable SEC requirements or would
otherwise be required to be filed by such Company as an exhibit for a Form S-1 pursuant to Items 601(b)(1), (2), (4), (9) or (10) of Regulation
S-K under the Securities Act as if the Company was the registrant.

<div align='center'>A-29</div>

(b) Except as disclosed in
Schedule 4.12(b), with respect to Company Material Contracts: (i) such Company Material Contracts are valid and binding and enforceable
in all respects against such Company party thereto and, to the Knowledge of the Company, each other party thereto, and is in full force
and effect (except, in each case, as such enforcement may be limited by the Enforceability Exceptions); (ii) the consummation of the transactions
contemplated by this Agreement and the Ancillary Documents will not affect the validity or enforceability of the Company Material Contracts;
(iii) such Company is not in breach or default in any material respect, and, to the Knowledge of the Company, no condition or event has
occurred that with