Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 338

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 338
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 purchase insurance to cover the liability of any officeholder resulting from the following: (a) Breach of the duty of care towards Kadimastem or any other person; (b) Breach of fiduciary duty towards Kadimastem, provided the officeholder acted in good faith and had reasonable grounds to believe the action would not harm Kadimastem’s interests; (c) Financial obligations imposed on the officeholder in favor of another person concerning actions performed in their role as an officeholder; (d) Expenses, including reasonable litigation costs and attorneys’ fees, incurred in connection with administrative enforcement proceedings; (e) Payment to a victim of a violation as stipulated under the Securities Law. The Companies Law specifies that these indemnification and insurance provisions do not apply in cases of: (a) Breach of fiduciary duty towards Kadimastem unless the officeholder acted in good faith and had reasonable grounds to believe their action would not harm Kadimastem’s interests; (b) Breach of the duty of care performed intentionally or recklessly, excluding cases of negligence; (c) Acts performed with the intent to derive unlawful personal gain; (d) Fines, civil penalties, monetary sanctions, or ransom payments imposed on the officeholder. |     | Under Swiss law, fundamental legal principles require companies to indemnify their employees for expenses and losses incurred in the normal course of their duties. However, indemnification for directors and officeholders is not permissible under Swiss law in cases where the damage resulted from intentional misconduct or gross negligence (or according to some views negligence). |

NLS is a foreign private issuer and, as such, is eligible for an exemption from certain Nasdaq corporate governance requirements that apply to issuers that are not foreign private issuers. Differences between Swiss laws and Nasdaq corporate governance requirements: SEC rules require foreign private issuers, such as us, to comply with various corporate governance practices. In addition, we are required to comply with Nasdaq rules. Under those rules, we may elect to follow certain corporate governance practices permitted under the Swiss law in lieu of compliance with corresponding corporate governance requirements otherwise imposed by Nasdaq rules for U.S. domestic registrants. In accordance with Swiss law and practice and subject to the exemption set forth in Rule 5615 of the Nasdaq rules, as a foreign private issuer, we have elected to rely on home country governance requirements and certain exemptions thereunder rather than the Nasdaq rules, with respect to the following requirements: •Composition of the board of