Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 49

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 49
---
 persons engaged in the Company’s management are liable to the Company, each shareholder and the Company’s
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 Company’s shareholders or directors or any person associated with any such shareholder or director,
other than payments made at arm’s length, must be repaid to the Company if such shareholder or director acted in bad faith.

Principles of the Compensation of the Board of Directors and the Executive Management

Pursuant to Swiss law, our
shareholders must annually approve the compensation of the board of directors and the persons whom the board of directors has, fully or
partially, entrusted with the management of the Company. The board of directors must issue, on an annual basis, a written compensation
report that must be reviewed together with a report on our business by our auditor. The compensation report must disclose all compensation,
loans and other forms of indebtedness granted by the Company, directly or indirectly, to current or former members of the board of directors
and executive management to the extent related to their former role within the Company or not on customary market terms.

<div align='center'>26</div>

The disclosure concerning
compensation, loans and other forms of indebtedness must include the aggregate amount for the board of directors and the executive management
as well as the particular amount for each member of the board of directors and executive officer, specifying the name and function of
each respective person.

Certain forms of compensation
are prohibited for members of our board of directors and executive management, such as:

| ● | severance payments provided for either contractually                                                                                  
 or in the articles of association (compensation due until the termination of a contractual relationship does not qualify as severance 
 payment);                                                                                                                             |

| ● | advance compensation; |

| ● | compensation paid on conditions other than the                                                     
 customary market conditions connected with a previous activity as a corporate body of the Company; |

| ● | compensation related to a ban on competition                                                                                          
 that exceeds the average remuneration for the last three financial years, or compensation related to a ban on competition that is not 
 justified on business grounds;                                                                                                        |

| ● | joining bonuses that do not compensate for a 
 verifiable financial disadvantage;           |

| ● | incentive fees for the acquisition or transfer                                                                   
 of corporations or parts thereof by the Company or by companies being, directly or indirectly, controlled by us; |

| ● | loans