Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 326

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 326
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 NLS’s executive officers and members of the NLS Board, provided, however, that Mr.Alexander Zwyer shall not resign as a member of the NLS Board at the Effective Time and shall remain as a member of the NLS Board and, from the date of the Closing, until the date that is one year after the date of the Closing, the combined company shall not take any action to remove, or recommend the removal of Mr.Zwyer from the combined company’s board of directors without cause, and shall nominate for election and continue to recommend to its shareholders that Mr.Zwyer be elected to serve as a director of the combined company. As a condition to his continued service and re -appointment, Mr.Zwyer shall tender an irrevocable resignation letter effective upon the lapse of one year from the date of the Closing, subject to acceptance of his resignation by the NLS Board. Subject to the preceding paragraph, it is expected that NLS’s officers (other than Mr. Konofal who shall remain in a part -timeposition with NLS) and members of the NLS Board will resign as of the Effective Time, and it is anticipated that Kadimastem’s executive officers and members of its board of directors as of the Effective Time will become NLS’s executive officers and members of the NLS Board. For more information regarding the directors and executive officers of NLS following the Merger, please see the section entitled “ Directors And Executive Officers Of NLS Following The Merger” in this proxy statement/prospectus. Pursuant to the Merger Agreement, no later than 90 days after the Closing, NLS shall make all necessary preparations for the sale of the Legacy Assets and appoint a Board sub -committee, or the Legacy Sub -Committee, consisting of at least three (3) members of the NLS Board, which such sub -committeeshall include the designated director identified by Mr. Zwyer, to oversee, market, manage, direct, negotiate, and take all other actions reasonably necessary to dispose the Legacy Assets and liabilities of NLS as of the Effective Time, or the Legacy Sale. The Legacy Sub -Committeeshall use best commercial efforts to consummate the Legacy Sale within 12 months following the Closing. The proceeds of any Legacy Sale, net of (i) all costs and expenses incurred or to be incurred by NLS or any of its Subsidiaries in connection with such sale, (ii) all reasonable, documented costs of