Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 797

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 797
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, see Note 9. 6. Regarding the loan that includes a share conversion component and an options component, see Note 15. 7. On December 12, 2022, Prof. Revel and Mr. Ruggieri informed the Company that their voting agreement was void. In accordance with discussions held at the Board of Directors meeting on March 27, 2023, the Company does not consider Prof. Revel as its controlling shareholder as of this date, and accordingly, from that date on, the Company does not have a controlling shareholder. 8. Agreement with Ronen Twito Executive Chairman and CEO. On March 21, 2024, the general meeting of the Company’s shareholders approved a revised service agreement with Mr. Twito, effective from February 4, 2024, under which, in addition to his services as Executive Chairman of the board, Mr. Twito will serve as President of the Company. The terms of employment are as follows: A. Scope of employment — 70% .If the Company’s shares are listed for trading in the US and/or the Company merges with a Nasdaq listed Company, the scope of employment will automatically increase to 100% and the compensation will be revised accordingly. Annual salary of NIS 600,000, (USD $165,600) which will increase to NIS 857,400 (USD $236,640) in the event that the Company`s shares are listed for trading in the United States, as described above, and an annual bonus of up to an amount equal to six months` salary, subject to the discretion of the Board. The employment agreement also provides that either party may terminate the employment agreement with six months’ prior notice, and that Mr. Twito will be subject to 12-month non-competition and non-solicitation clauses. The employment agreement also provides for standard confidentiality provisions, reimbursement for certain expenses, as well as indemnity, exemption, and insurance provisions. On October 22, 2024, Mr. Ronen Twito was appointed CEO of the Company concurrently with his role as Executive Chairman of the Board of Directors, which was subsequently approved on January 30, 2025 by the Company’s shareholders meeting. In addition, the shareholders meeting approved Mr. Ronen Twito’s revised compensation terms as Executive Chairman and CEO, effective upon closing of the Merger. In addition, the grant of 157,995 RSUs of the Company was approved with a vesting period of 24 months