Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 433

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 433
---
 reasonable
terms to the public generally with license, maintenance, support and other fees of less than $10,000 per year (collectively, “Off-the-Shelf Software”), which are not required to be listed, although such licenses are “Company IP Licenses” as that term
is used herein), under which such Company is a licensee or otherwise is authorized to use or practice or have rights to any Intellectual
Property of any Person and which otherwise relates to such Company’s ownership or use of Intellectual Property, and describes (A)
the applicable Intellectual Property licensed, sublicensed or used and (B) any royalties, license fees or other compensation due from
such Company, if any. Such Company owns, free and clear of all Liens (other than Permitted Liens), has valid and enforceable rights in,
and has the unrestricted right to use, sell, license,

<div align='center'>A-30</div>

transfer or
assign, all Intellectual Property currently used, licensed or held for use by such Company, and previously used or licensed by such Company,
except for the Intellectual Property that is the subject of the Company IP Licenses. No item of Company Registered IP that consists of
a pending Patent application fails to identify all pertinent inventors, and for each Patent and Patent application in the Company Registered
IP, such Company has obtained valid assignments of inventions from each inventor. Except as set forth on Schedule 4.13(a)(iii), all Company
Registered IP is owned exclusively by such Company without obligation to pay royalties, licensing fees or other fees, or otherwise account
to any third party with respect to such Company Registered IP, and such Company has recorded assignments of all Company Registered IP.
Such Company has provided Purchaser with true and complete copies of all Company IP Agreements, including all modifications, amendments
and supplements thereto and waivers thereunder. Each Company IP Agreement is valid and binding on such Company in accordance with its
terms and is in full force and effect. Neither such Company nor any other party thereto is, or is alleged to be, in breach of or default
under, or has provided or received any notice of breach of, default under, or intention to terminate (including by non-renewal), any Company
IP Agreement. Such Company has entered into binding, valid and enforceable, written Contracts with each current and former employee and
independent contractor who is or was involved in or has contributed to the invention, creation, or development of any Intellectual Property
during the course