Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 831

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 831
---
 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 shareholders to approve the merger transaction as soon as possible.
Furthermore, in order to obtain all the aforementioned approvals, the Company and NLS agreed to extend the final date for completion of the merger transaction by 90 days, i.e. until April 30, 2025. On February 28, NLS, together with the Company, announced that they submitted an amended F4/A1 statement to the SEC regarding the proposed merger. 2.As of the date of approval of these financial statements, the merger transaction with NLS has received the approvals of the District Court