Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 306

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 306
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, both the number of committee members (the minimum and maximum number of compensation committee members) and the identity of the compensation committee members is determined by our shareholders. Our home country rules also do not require us to authorize a committee of our independent directors or alternatively hold a vote consisting of solely our independent directors in order to determine which persons shall be nominated for election by our shareholders. Our practice will therefore vary from the requirements of Nasdaq Listing Rule 5605(d), which sets forth certain requirements as to the responsibilities, composition and independence of compensation committees, and from the independent director oversight of director nominations requirements of Nasdaq Listing Rule 5605(e). Furthermore, we are subject to the “Say on Pay” Rule in accordance with Swiss law. This means that the compensation of our board of directors and senior management must be presented by the board of directors to our shareholders and our shareholders must vote on the proposed compensation. Furthermore, pursuant to Swiss law, severance, certain compensations in connection with non -competes, advances, transaction premiums and similar payments to senior management and director are prohibited. •Code of Business Conduct and Ethics. Pursuant to Swiss law, we adopted a code of business conduct and ethics applicable to all of our directors, senior management and employees, which may not comply with the requirements of Nasdaq Listing Rule 5610. Conditions to Closing The Merger Agreement requires the parties to consummate the Merger after all of the conditions to the consummation of the Merger contained in the Merger Agreement are satisfied or waived. Such conditions include: The following mutual conditions of the parties unless waived: •the Merger Agreement and the Merger shall have been approved and adopted by the shareholders of NLS, Kadimastem and Merger Sub; •receipt of requisite consents from governmental authorities to consummate the Transactions, and receipt of specified requisite consents from other third parties to consummate the Transactions; •the absence of any law or order that would prohibit the consummation of the Merger or other transactions contemplated by the Merger Agreement; •the effectiveness of the Proxy Statement, and, if applicable, the registration statement shall have been declared effective by the SEC; •the Boards and the board of directors of each Kadimastem shall have received a fairness opinion relating to the Merger in form reasonably satisfactory to such respective boards; •the parties shall have made all the Required Filings; •NLS shall have taken all necessary actions to effectuate a reverse stock split of NLS Common Shares, in order