Company: ARAI
Filing Date: 2025-03-24
Form Type: S-1/A
Source: 0001641172-25-000350
Chunk: 131

Company: Arrive AI Inc.
Filing Date: 2025-03-24
Form: S-1/A
Chunk 131
---
 in 2021. These shares vested quarterly, with 6,667 shares of common stock vested
in 2021, 13,333 shares of common stock vested in 2022, 13,333 shares of common stock vested as of December 2023,
after giving effect to the Reverse Stock Split retrospectively for all periods presented. This award is fully vested.

No other directors received compensation for their service as members of the Board in 2022 or 2021.

| 56 |

<div align='center'>CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</div>

The following is a description of transactions since 2020, including currently proposed transactions to which Arrive has been a party in which the amount involved exceeded or will exceed $120,000, and in which any of Arrive AI’s directors (including nominees), executive officers or beneficial holders of more than 5% of Arrive AI’s capital stock, or their immediate family members or entities affiliated with them, had or will have a direct or indirect material interest. We believe the terms and conditions set forth in such agreements are reasonable and customary for transactions of this type.

Exclusive Patent License Agreement

Arrive executed an exclusive patent license agreement on May 26, 2020 with its CEO, the licensor and sole owner of all right, title and interest in certain technology consisting of inventions, know-how, patents and patents applications, technology to be patented and trademarks relating to secured drone delivery ALM mailboxes and receiving containers for residential and commercial applications, collectively the products which are described in more detail in the table below. The Company, as licensee, has the exclusive right to sell, manufacture, and otherwise commercialize the technology and the products worldwide in exchange for a pre-revenue monthly fee equal to $10,000.00. Additionally, once revenue from sales, rentals, and leases begin and exceeds $10,000.00 a month, then the licensee must pay licensor a fee per unit or product sold, rented or leased equal to $25.00. The agreement also includes a provision where the Arrive must commence development and marketing of the products within 36 months of the execution of the agreement in order to remain in force, otherwise at the end of the 36 months, all rights shall revert to licensor with no further rights for such product or obligations of licensor to licensee, however if no action is taken by the licensor, the agreement has a term of seven years, a period which may be extended