Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 488

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 488
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 Founder Shares (excluding EarlyBirdCapital, Inc.) shall retain 1,725,000 Founder
Shares, in addition to any private units acquired in connection with the Purchaser’s IPO. Purchaser shall ensure that a letter agreement
with the Sponsor, in form and substance reasonably satisfactory to the Parties, evidencing the Sponsor’s agreement to effect such
forfeiture and transfer, is executed and delivered simultaneously with the execution of this Agreement.

<div align='center'>A-68</div>

7.23 Updates to Disclosure Schedules. Whenever any of the Parties obtains knowledge of any matter occurring after the date of this Agreement, that,
if existing or occurring as of the date of this Agreement, would have been required to be set forth or described in the Disclosure Schedules
attached hereto and made a part of this Agreement, such Party shall before Closing promptly supplement or amend the Disclosure Schedules
with respect to such matter. Any disclosure in any such supplement or amendment shall not be deemed to have cured any inaccuracy in or
breach of any representation or warranty contained in this Agreement, including for purposes of the indemnification or termination rights
contained in this Agreement or of determining whether or not the conditions to Closing contained in Article VIII have been satisfied.

<div align='center'>ARTICLE VIII.
NO SURVIVAL</div>

8.1 No Survival.Representations and warranties of each Party contained in this Agreement or in any certificate or instrument delivered by or on behalf
of any Party pursuant to this Agreement shall not survive the Closing, and from and after the Closing, each Party and their respective
Representatives shall not have any further obligations, nor shall any claim be asserted or Action be brought against any Party or their
respective Representatives with respect thereto. The covenants and agreements made by each Party in this Agreement or in any certificate
or instrument delivered pursuant to this Agreement, including any rights arising out of any breach of such covenants or agreements, shall
not survive the Closing, except for those covenants and agreements contained herein and therein that by their terms apply or are to be
performed in whole or in part after the Closing (which such covenants shall survive the Closing and continue until fully performed in
accordance with their terms).

<div align='center'>ARTICLE IX.
CLOSING CONDITIONS</div>

9.1 Conditions to Each Party’s Obligations.The obligations of each Party to consummate the Mergers and the other transactions described herein
shall be subject