Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 82

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 82
---
 with coverage and amounts, and terms and conditions that are acceptable to NLS. The premium for such policy (up to a maximum of $200,000) shall be paid by Kadimastem on or prior to the Closing, and NLS shall take all necessary actions, and not fail to take any action, to prevent the cancellation of such policy during its term. Additionally, following the Merger, several agreements related to compensation for NLS’s officers and directors will go into effect, including: •The annual salary of Mr.Ronen Twito, Executive Chairman and Chief Executive Officer, or CEO, of Kadimastem of $370,188 (including social benefits) will increase to $413,743 upon the combined company completing a capital raise greater than $10million following the Merger and a bonus payment, subject to the discretion of the board of directors. Under the employment agreement with Kadimastem, Mr.Twito received 157,995 RSUs to be settled into such number of Kadimastem Ordinary Shares as provided under the agreement, vested over a two -yearperiod. The agreement includes acceleration provisions including at the Closing of the Merger. At the Closing of the Merger the unvested RSUs convert into RSUs of NLS, in accordance with the terms of the Merger Agreement. Under the employment agreement, upon the Closing of the Merger, Mr.Twito shall also be entitled to a bonus equal to the NIS equivalent of $100,000; •Mr.Kfir Molakandov’s, Kadimastem’s VP of Research and Development, annual salary will increase to a NIS amount equivalent to $173,333, including social benefits; •Mr.Ariel Revel’s, Director of Medical Affairs of Kadimastem, annual salary will increase to a NIS amount equivalent to $86,667, including social benefits; and •Each director on the NLS Board (1) shall receive an annual amount of $25,000, payable quarterly, and a one -timeoption grant equal to 0.2% of the outstanding NLS Common Shares, with the initial vesting over three (3) years, with an exercise price equal to the market price at the Closing; and (2) will enter into indemnification agreements between NLS and members of the NLS Board. Additionally, Prof. Michel Revel, MD, Director and Chief Scientific Officer of Kadimastem and the beneficial owner of 1,315,107 Kadimastem