Company: ARAI
Filing Date: 2025-04-18
Form Type: S-1/A
Source: 0001641172-25-005394
Chunk: 102

Company: Arrive AI Inc.
Filing Date: 2025-04-18
Form: S-1/A
Chunk 102
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 (as defined in the Securities Purchase Agreement); (ii) sell during the first three trading days; nor (iii) exceed certain volume limits—10% for the Chief Executive Officer and 25% of daily trading volume collectively for all other executive-level officers. These restrictions automatically expire on the Lock-Up Expiration Date.

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

On March 10, 2025, Arrive entered into the second amendment to the Exclusive Patent License Agreement of May 26, 2020 with Daniel S. O’Toole (the “Second Amendment”) . TheSecond 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. TheSecond Amendment also removes prior restrictions on the Arrive’s use, sale, or commercialization of the technology after termination, permitting the sale of remaining inventory for up to 90 days post-termination, provided all required reports and payments are made under the Agreement.

First Amendment to the Exclusive Patent Agreement between Arrive AI Inc., formerly Arrive Technology Inc., formerly Dronedek Corporation, and Daniel S. O’Toole

On December 10, 2024, Arrive entered into the first amendment to the Exclusive Patent License Agreement of May 26, 2020 with Daniel S. O’Toole (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