Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 318

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 6
Chunk 318
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di was granted 807 common shares in consideration for board fees of $4,555;     
●   Ms. Audrey Greenberg was granted 266 common shares in consideration for board fees of $1,502; and   
●   Ms. Florence Aknin Allouche was granted 266 common shares in consideration for board fees of $1,502.
Employment Agreements with Senior Management

We have entered into written employment or service agreements with our Chief Executive Officer, Chief Financial Officer and Chief Scientific Officer, currently our only members of senior management. Except for our Chief Executive Officer, our other members of the management team are not engaged as full-time employees as of December 31, 2024. We have entered into consulting or employment agreements with our other management and employees. All of these agreements contained 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 contain terms and conditions customary under Swiss law. In addition, our senior management are subject to our directors’ and officers’ liability insurance policy, which we obtained prior to the initial public offering. 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 our board of directors and compensation and governance committee, and, in certain circumstances, upon approval by our shareholders.
C. Board Practices

Board of Directors

On May 3, 2023, our board of directors resolved to consider increasing the size of the board of directors by two seats and seek U.S. based, industry experts as candidates to potentially serve as independent directors at our next annual general shareholders meeting.

Our board of directors is currently composed of five directors. Each director is elected for a one-year term. Messrs. Hafner, Rinaldi and Zwyer were reappointed at the annual shareholders’ meeting held on June 30, 2023. Audrey Greenberg and Anthony Walsh were elected to the board of directors at the annual shareholders’ meeting held on June 30, 2023. Claudio L.A. Bassetti and Florence Allouche Aknin joined the board of directors effective January 1, 2024. Mr. Walsh resigned from the board of directors on April 3, 2024. Dr. Apostol resigned from the board of directors on May 28, 2024. Mr. Samuel was elected to the board of directors at an extraordinary shareholders