Company: ARAI
Filing Date: 2025-06-17
Form Type: S-1
Source: 0001641172-25-015428
Chunk: 107

Company: Arrive AI Inc.
Filing Date: 2025-06-17
Form: S-1
Chunk 107
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ole (the “First Amendment”).
The First Amendment extends the license term from the original seven years to perpetuity, covering the full term and life of the patents.
All terms and conditions from the original Agreement are renewed and incorporated into this First Amendment. The First Amendment ensures
the continuation of the exclusive worldwide rights to practice and utilize the licensed inventions, technology, know-how, patents, and
patent applications, including the manufacture and marketing of the product.

Exclusive Patent License Agreement between Arrive AI Inc., formerly Arrive Technology Inc., formerly Dronedek Corporation, and Daniel S. O’Toole

On May 26, 2020, Arrive entered into an Exclusive
Patent License Agreement with Daniel S. O’Toole, where Arrive was granted exclusive worldwide rights to use, manufacture, and commercialize
patented technology related to secured drone delivery smart mailboxes and receiving containers (the “Products”). The Licensor,
Daniel S. O’Toole, owns the intellectual property, including patents and trademarks, and warrants that he has the right to grant
these rights. Arrive agrees to pay a pre-revenue fee of $10,000 per month starting June 1, 2020, and once revenue exceeds $10,000 per
month, a fee of $25 per unit sold. Arrive is responsible for all development, manufacturing, and patent-related costs, and must diligently
exploit the Products. The Agreement has an initial term of seven years, renewable year-to-year, and can be terminated by either party
under specific conditions. The Agreement also includes provisions for record-keeping, reporting, infringement defense, and indemnification,
with disputes governed by laws of the State of Indiana.

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Conversion of warrants

As of December 31, 2024, we had a total of 910,189
warrants outstanding. Each warrant unit converts to 0.25 common shares (after giving effect to the Reverse Stock Split). The shares issued
upon the exercise of the warrants may be freely sold upon effectiveness of a registration statement covering such shares, these shares
may be freely sold in reliance on an exemption from registration such as Rule 144.

Agreement between Arrive AI Inc., formerly Arrive Technology Inc., formerly Dronedek Corporation, and Helium Network

On December 1, 2022, Arrive issued a press release
announcing that it will utilize Helium Network to transmit sensor data for Arrive AI’s ALM