Company: ARAI
Filing Date: 2025-06-17
Form Type: S-1
Source: 0001641172-25-015428
Chunk: 138

Company: Arrive AI Inc.
Filing Date: 2025-06-17
Form: S-1
Chunk 138
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5    |     | TBD                                      |     | Special Expanding Floor Accordion drone docking station called a Dronedeck |     | Pending          |     |       63012824 |     | Daniel O’Toole |     | April 20, 2020    |
| 6    |     | TBD                                      |     | Special Expanding Floor Accordion drone docking station called a Dronedeck 
 Temperature Control Device                                                 |     | Pending          |     |       63012824 |     | Daniel O’Toole |     | April 20, 2020    |
| 7    |     | TBD                                      |     | Commercial Dronedeck receiving device and system                           |     | TBD              |     |            TBD |     | Daniel O’Toole |     |                   |

On December 10, 2024, the Company and its CEO,
Mr. O’Toole, entered into the First Amendment to the Exclusive Patent License Agreement, whereby the term of such agreement was
extended beyond the original seven years to perpetuity for the full life of the covered patents. If the Company materially defaults in
performing any terms of the agreement and does not cure timely to Mr. O’Toole’s satisfaction, Mr. O’Toole may terminate
the agreement upon proper notice. Subsequent to the termination of the agreement, the Company agrees to not engage in the use, sale,
or other commercialization of the intellectual properties and not sell related products. The foregoing description of the license agreement
is not complete and is qualified in its entirety by reference to the text of such document, which is filed as an exhibit to our Direct
Listing Registration Statement.

On March 10, 2025, the Company and its CEO, Mr.
O’Toole, entered into the Second Amendment to the Exclusive Patent License Agreement. The Second Amendment extends the license
to perpetuity, covering the full term and life of the patents, and incorporates all terms from the original Agreement and the First Amendment.
In the event of a default, the defaulting party has 60 days to cure. If the default is not cured, the license transitions to a non-exclusive
license, allowing both parties to seek additional licensees or sources for similar technology, while royalty payments continue into perpetuity
or until the 20-year patent term ends. The Second Amendment also removes prior restrictions on the Company’s use, sale, or commercialization
of the technology after termination, permitting the sale of remaining