Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 545

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 545
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 with the company or with the shareholder bringing a suit against the director. Indemnification of Directors and Executive Management According to Swiss Law and our 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 twelve months after the resolution of release. Under Swiss law, an indemnification of a member of the NLS Board or the executive management in relation to potential personal liability is not effective to the extent the member of the NLS Board or 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 persons is not permitted under Swiss law, including shareholders of the company. Subject to Swiss law, our articles of association provide for indemnification of the existing and former members of our NLS Board, executive officers, and their heirs, executors and administrators, against liabilities arising in connection with the performance of their duties in such capacity, and permit us to advance the expenses of defending any act, suit or proceeding to members of our NLS Board and executive officers. 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. 310 Conflict of Interest, Management Transactions Swiss law provides that the members of the NLS Board and the executive management shall inform the NLS Board immediately and comprehensively of any conflicts of interest affecting them. The NLS Board shall take the measures required to safeguard the company’s interests. Our directors and executive officers are personally liable to us for a breach of these provisions. In addition, Swiss law contains provisions under which directors and all persons engaged in NLS’s management are liable to us, each shareholder and our creditors for damages caused by an intentional or negligent violation of their duties. Furthermore, Swiss law contains a provision under which payments made to any of the NLS’s shareholders or directors or any person associated with any such shareholder or director, other than payments made at arm’s