Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 102

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 102
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the Company would pay the aforementioned third party a payment for reaching milestones in the transplant product for the treatment of
ALS according to the following rules:

| A. | USD $150 thousand at the beginning of clinical phase IIb. |

| B. | USD $200 thousand at the beginning of clinical phase III. |

| C. | USD $2 million when obtaining a marketing license for a product to treat ALS in the US or Europe. |

In addition, the Company paid an annual
license maintenance fee of USD $50 thousand until 2019, which was reduced to USD $30 thousand per year from 2020 and until 15 years pass
from the current agreement’s execution. The annual license maintenance fees will be offset from the royalty payments.

As of December 31, 2024, the Company
does not have royalties liability.

| - | An annual payment of USD $20 thousand, starting at the end of the fourth year from the date of signing 
 the contract;                                                                                          |

| - | Milestone payments of up to USD $9,650 thousand; |

| - | Royalties at a rate of 3.5% - 5% of the sales (according to the terms set forth in the agreement) for                                    
 a period of 20 years from the date the Company’s sales commence in each country or the date the patent expires in each country,          
 whichever is later, as well as 20% of the proceeds from the sale of sublicenses by the Company. In case that the Company is obligated    
 to pay royalties to another party in connection with the same product, the aforementioned royalty rate shall be reduced to 3.5% and 15%, 
 respectively. In addition, if the license becomes a non-exclusive license, the above payments will be reduced by 50%.                    |

As of December 31, 2024, the Company
has not yet made any payments in respect of the milestones.

| D. | On November 30, 2014, the Company signed a license agreement with an academic institution in the United                                      
 Kingdom. As part of the agreement, the Company would be given a license for the commercial use of a Pluripotent stem cell line at a clinical 
 level. It was agreed that the bulk of the payment to the academic institution would be made upon reaching future milestones and as royalties 
 on future sales, as follows: 30,000 pounds sterling (USD $45,000) would be paid by the Company after receiving the Company