Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 319

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 319
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 equal to the NIS equivalent of $100,000; •Mr.Kfir Molakandov’s, Kadimastem’s VP of Research and Development, annual salary will increase to a NIS amount equivalent to $173,333, including social benefits; •Mr.Ariel Revel’s, Director of Medical Affairs of Kadimastem, annual salary will increase to a NIS amount equivalent to $86,667, including social benefits; and •Each director on the NLS Board (1) shall receive an annual amount of $25,000, payable quarterly, and a one -timeoption grant equal to 0.2% of the outstanding NLS Common Shares, with the initial vesting over three (3) years, with an exercise price equal to the market price at the Closing; and (2) will enter into indemnification agreements between NLS and members of the board of directors. Additionally, Prof. Michel Revel, MD, Director and Chief Scientific Officer of Kadimastem and the beneficial owner of 1,315,107 Kadimastem Ordinary shares as of July 9, 2025, and Ronen Twito, Executive Chairman and CEO of Kadimastem, and beneficial owner of 367,332 Kadimastem Ordinary Shares as of July 9, 2025, will benefit directly from the exchange of their Kadimastem Ordinary Shares in exchange for shares of NLS resulting from the Merger. 143 THE MERGER AGREEMENT This section describes the material provisions of the Merger Agreement but does not purport to describe all of the terms thereof. The following summary is qualified in its entirety by reference to the complete text of the Merger Agreement and the related agreements; a copy of the Merger Agreement and amendments thereto is attached as Annex A hereto, which is incorporated herein by reference. Holders of NLS Common Shares and other interested parties are urged to read such agreement in its entirety because it is the primary legal document that governs the Merger. Unless otherwise defined herein, the capitalized terms used in this section “Proposal 1: The Merger Proposal — The Merger Agreement” are defined in the Merger Agreement. The Merger Agreement contains representations, warranties and covenants that the respective parties made to each other as of the date of the Merger Agreement or other specific dates, including, in some cases, as of the Closing. The assertions embodied in those representations, warranties and covenants were made for purposes of the contract among