Company: NCEL
Filing Date: 2025-10-24
Form Type: POS AM
Source: 0001213900-25-102149
Chunk: 16

Company: NewcelX Ltd.
Filing Date: 2025-10-24
Form: POS AM
Chunk 16
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 Board that the shareholders of NLS approve the Merger Agreement and the transactions contemplated therein, including
the Merger, in each case in a manner adverse to Kadimastem, (ii) approve or recommend any Parent Acquisition Proposal, (iii) enter into
any agreement with respect to any Parent Acquisition Proposal (other than a confidentiality agreement pursuant to the terms of the Merger
Agreement) or (iv) if any Parent Acquisition Proposal is publicly announced, fail to reaffirm or re-publish the recommendation by the
NLS Board that the shareholders of NLS approve the Merger Agreement and the transactions contemplated therein, including the Merger, within
ten (10) business days of being requested by Kadimastem to do so (subject to the terms of the Merger Agreement).

<div align='center'>6</div>

If, at any time prior to the
receipt of the required vote by NLS’s shareholders the NLS Board receives a Parent Acquisition Proposal that NLS determines in good
faith, after consultation with its financial advisor and outside legal counsel, constitutes a Parent Superior Proposal (as defined in
the Merger Agreement), the NLS Board may (i) effect a Parent Adverse Recommendation Change (as defined in the Merger Agreement) or (ii)
authorize NLS to terminate the Merger Agreement pursuant to the terms thereof in order to enter into a definitive agreement providing
for a Parent Superior Proposal, provided that such Parent Superior Proposal is conditioned on the Merger Agreement being terminated, which
condition remains after NLS has used its reasonable best efforts to remove such condition, if (A) the NLS Board determines in good faith,
after consultation with its financial advisor and outside legal counsel, that the failure to take such action would reasonably be expected
to be inconsistent with the fiduciary duties of NLS’s directors under applicable law; (B) NLS has notified Kadimastem in writing
that it intends to effect a Parent Adverse Recommendation Change or terminate the Merger Agreement; (C) if applicable, NLS has provided
Kadimastem a copy of the proposed definitive agreements between NLS and the person making such Parent Superior Proposal; (D) for a period
of five (5) days following the notice delivered pursuant to the Merger Agreement, NLS shall have discussed and negotiated in good faith
and made its representatives available to discuss and negotiate in good faith (in each case to the extent Kadimastem desires to negotiate)
with Kadimast