Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 798

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 798
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 commencing on the date of approval by the Board of Directors.

Annex G-43 KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS Note 22: — BALANCES AND TRANSACTIONS WITH interested AND RELATED PARTIES (cont.) B. The revised terms of the agreement are: Annual salary of USD $370,188 (including social benefits) which will increase to USD $413,743 upon the combined company completing an equity raise greater than USD $10 million accumulated following the Merger (a “Trigger Financing”) and a bonus, subject to the discretion of the Board. The employment agreement also provides that either party may terminate the employment agreement with nine months’ prior notice, a 3-month adaptation period, and the requirement that Mr. Twito will be subject to a 12-month non-competition and non-solicitation clauses. The employment agreement also provides for standard confidentiality provisions, reimbursement for certain expenses as well as [standard] indemnity, exemption, and insurance provisions. 9. Employment agreement with the former CEO of the Company On February 1, 2021, Mr. Assaf Shiloni (hereinafter, “Mr. Shiloni”) began serving as CEO of the Company. Mr. Shiloni concluded his role on October 25, 2024. Below are the main terms of such employment: A. Annual salary of USD $231,891 (including social benefits) and a bonus of up to 6 months` salary, subject to the discretion of the Board. The employment agreement also provided that either party could terminate the employment agreement with six months’ prior notice, and that Mr. Shiloni would be subject to a 12-month non-competition and non-solicitation clauses. The employment agreement also provided for standard confidentiality provisions, reimbursement for certain expenses including leasing a car, as well as [standard] indemnity, exemption, and insurance provisions. Note 23: — SUBESEQUENT Events A. Conditions precedent remaining for the completion of the merger transaction with NLS and the extension of the final deadline for its completion: 1.On February 2, 2025, the Company announced that it continues to work jointly with NLS vis -a-visvarious regulatory bodies (including the U.S. Securities and Exchange Commission (the “SEC”) and the Nasdaq Stock Exchange) in order to obtain all necessary approvals required for the completion of the merger transaction. In addition, NLS is taking steps to convene a meeting of its