Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 430

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 430
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 the election of directors of such Company (other than the Organizational
Documents of such Company);

(iv) involves any
exchange traded, over the counter or other swap, cap, floor, collar, futures contract, forward contract, option or other derivative financial
instrument or Contract, based on any commodity, security, instrument, asset, rate or index of any kind or nature whatsoever, whether tangible
or intangible, including currencies, interest rates, foreign currency, commodities, and indices, in each case, that is material to the
business of such Company;

(v) evidences Indebtedness
(whether incurred, assumed, guaranteed or secured by any asset) of such Company having an outstanding principal amount in excess of $250,000;

(vi) involves the
acquisition or disposition, directly or indirectly (by merger or otherwise), of assets with an aggregate value in excess of $250,000 (other
than in the ordinary course of business consistent with past practice) or shares or other equity interests of such Company or another
Person;

<div align='center'>A-28</div>

(vii) relates to
any merger, consolidation or other business combination (other than this Agreement) with any other Person or the acquisition or disposition
of any other entity or its business or material assets or the sale of such Company, its business or material assets;

(viii) by its terms,
individually or with all related Contracts, calls for aggregate payments or receipts by such Company under such Contract or Contracts
of at least $250,000 per year or $500,000 in the aggregate;

(ix) is with any
Governmental Authority;

(x) is a lease, sublease,
or any other Contract relating to material property or assets (whether real or personal, tangible or intangible) in which such Company
holds a leasehold interest;

(xi) obligates such
Company to provide continuing indemnification or a guarantee of obligations that would be expected to result in payments to a third party
after the date hereof in excess of $250,000;

(xii) is between
such Company and any of its directors, officers or employees (other than at-will employment arrangements with employees entered into in
the ordinary course of business consistent with past practice that do not contain severance entitlements, change in control benefits,
or guaranteed bonuses), including all non-competition, severance and indemnification agreements, or any Related Person;

(xiii) obligates
such Company to make any capital commitment or expenditure in