Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 689

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 689
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 Section 5.14.2 . Section 5.14.2 of the Agreement shall be amended in its entirety to read as follows: “5.14.2 The Legacy Sub-Committee by majority vote may, upon its unanimous finding that the out-of-pocket expenditures by Parent related to maintaining the Intellectual Property rights associated with the Legacy Assets, beginning with the Effective Date, has exceeded $100,000, abandon attempts to consummate the Legacy Sale and Annex A-71 instead dispose of the Legacy Assets in a manner that it deems appropriate and expedient. Notwithstanding anything to the contrary contained herein, unless Parent has entered into a binding term sheet or a definitive agreement, in either case with respect to the sale of the Legacy Assets, or unless otherwise determined by the board of directors of Parent, Parent shall, beginning on the one-year anniversary of the Closing Date, abandon attempts to consummate the Legacy Sale and instead dispose of the Legacy Assets in a manner that it deems appropriate and expedient.” 5. Amendment to Section 6.2.7 . Section 6.2.7 of the Agreement shall be amended in its entirety to read as follows: “At the Effective Time, Parent shall have at least USD $600,000 in gross funds (including cash in any of its bank accounts).” 6. Amendment to Section 6.2.8 . Section 6.2.8 of the Agreement shall be amended in its entirety to read as follows: “6.2.8 The (i) directors of Parent immediately prior to the Effective Time shall have resigned from their positions (other than Alex Zwyer), (ii) officers of Parent immediately prior to the Effective Time shall have resigned from their positions (other than Eric Konofal, who shall remain in a part-time position with Parent), (iii) officers of the Company immediately prior to the Effective Time shall have been appointed as officers of the Parent as of the Effective Time, and (iv) Parent shall have convened the Parent Shareholder Meeting and shall have elected the Company Board members as members of the board of directors of Parent, effective as of the Effective Time” 7. Amendment to Section 8.10 . Section 8.10 of Agreement shall be amended to include the following definitions in alphabetical order: “ Basic Ratio Share Split ” means the initial target post-Closing fully diluted Parent share split of 85% for shareholders of the Company and 15% for shareholders of Parent, subject to the adjustments as set forth herein