Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 265

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 265
---
 Agreements”) to Mr. Ronald Hafner, our Chairman                     
  and shareholder, and following an assignment of shares from another shareholder to Mr. Hafner  
  in exchange for the satisfaction of a debt held by Mr. Hafner, Mr. Hafner became a beneficial  
  owner of approximately 15.0% of our common shares, reflecting an increase from the percentage  
  owned as reported in our annual report on Form 20-F for the year ended December 31, 2024,      
  which stated that as of May 14, 2024, Mr. Hafner beneficially owned 4.8%.                      
 ─────────────────────────────────────────────────────────────────────────────────────────────────

Record Holders

As
of the date of this annual report, there was a total of 28 holders of record of our common shares, of which at least 6 have, to the best
of our knowledge, a registered address in the United States.

We
are not controlled by another corporation, by any foreign government or by any natural or legal persons except as set forth herein, and
there are no arrangements known to us which would result in a change in control of the Company at a subsequent date.

B.
Related Party Transactions

Employment
Agreements

We
have entered into written agreements with our Chief Executive Officer, Chief Financial Officer and Chief Scientific Medical Officer.
Except for our Chief Executive Officer, other members of management are not engaged as full-time employees as of December 31, 2024.

All
employment agreements that we enter into contain provisions regarding noncompetition, confidentiality of information and assignment of
inventions. However, the enforceability of the noncompetition provisions may be limited under applicable law and, our assignment of inventions
agreements with our senior management will contain terms and conditions customary under Swiss law. In addition, our senior management
are subject to our directors and officers insurance policy. Members of our senior management are eligible for bonuses each year. The
bonuses will be payable upon meeting objectives and targets that are set annually by the board of directors and compensation, nomination
and governance committee, and, in certain circumstances, upon approval by our shareholders.

Alexander Zwyer
Employment Agreement

On
April 9, 2021, we entered into a new employment agreement with Mr. Zwyer, effective as of May 1, 2021, relating to his service as our
Chief Executive Officer. Pursuant to his employment agreement,