Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 394

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 394
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 this Agreement, and (iii)
adopted a resolution recommending that this Agreement and the transactions contemplated hereunder be adopted by their respective shareholders;

WHEREAS, as a condition
and inducement to Purchaser’s willingness to enter into this Agreement, simultaneously with the execution and delivery of this Agreement,
certain Company Shareholders have executed and delivered to Purchaser a support agreement with the Purchaser, the applicable Company,
and Holdco (each, a “Company Support Agreement”) pursuant to which, among other things, they have agreed: (i)
if a meeting is held, appear at such meeting or otherwise cause their shares to be counted as present at such meeting for purposes of
establishing a quorum, and (ii) vote or cause to be voted (including by written consent, if applicable) their shares in favor of granting
the Required Company Shareholder Approval, if there are insufficient votes in favor of granting the Required Company Shareholder Approval,
in favor of the adjournment or postponement of such meeting of the Company Shareholders to a later date but not past the Outside Date;

WHEREAS, as a condition
and inducement to each Company’s willingness to enter into this Agreement, simultaneously with the execution and delivery of this
Agreement, Pelican Sponsor LLC, a Delaware limited liability company (“Sponsor”), has executed and delivered
to each Company a Support Agreement (the “Sponsor Support Agreement”), pursuant to which, among other things,
it has agreed (i) to vote in favor of the proposed transactions contemplated by this Agreement, (ii) to appear at the Purchaser Special
Meeting for purposes of constituting a quorum, (iii) to vote against any proposals that would materially impede the proposed transactions
contemplated by this Agreement, and (iv) to not redeem any Purchaser Ordinary Shares held by it that may be redeemed;

WHEREAS, at the Closing,
all Company Security Holders will enter into Lock-Up Agreements with Holdco and the Purchaser, in a form to be mutually agreed upon by
the Companies, Holdco and the Purchaser (each, a “Lock-Up Agreement”); and

WHEREAS, the Key Personnel
will enter into Non-Competition and Non-Solicitation Agreements in favor of Purchaser and the Company, in a form to be mutually agreed
upon by the Company and Purchaser and each Key Personnel (each, a “Non-Competition Agreement”), which agreements
will become effective as of the Closing.

NOW,