Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 490

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 490
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 (b) Breach of fiduciary duty towards Kadimastem, provided the officeholder acted in good faith and had reasonable grounds to believe                                                                                                                                                                                                                                                            |     | Pursuant to Swiss Law and NLS’s articles of association, the shareholders’ meeting has the authority to grant discharge to the members of the NLS Board from liability. The effect of the resolution of release (discharge) by the shareholders’ meeting is effective only for disclosed facts and only against the company and those shareholders who approved the resolution or who have since acquired their shares in full knowledge of the resolution. The right of action of other shareholders lapses six months after the resolution of release. |

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| Rights of Kadimastem shareholders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |     | Rights of NLS Pharmaceutics shareholders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 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. |     | In addition, under general principles of Swiss employment law, an employer may be required to indemnify an employee against losses and expenses incurred by such employee in the proper execution of their duties under the employment agreement with the employer.                                                                                                                                                                                                                                                                                                                                                                                                                          
 Under Swiss law, an indemnification of a director or member of the executive management in relation to potential personal liability is not effective to the extent the director or member of the executive management intentionally or gross negligently violated his or her corporate duties towards the company (certain views advocate that a negligent violation is sufficient to exclude the indemnification). Almost all violations of corporate law are regarded as violations of duties towards the company rather than towards the shareholders. In addition, indemnification of other controlling