Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 255

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 255
---
 holder of Warrant Shares.

5.12. Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

5.13. Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the
extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

5.14. Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

<div align='center'>********************

[NLS Pre-Funded Warrant Signature Page Follows]

12

[NLS Pre-Funded Warrant Signature Page]</div>

IN WITNESS WHEREOF, the Company
has caused this Pre-Funded Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

| NLS PHARMACEUTICS LTD. |                         |
| Name:                  | Alexander Zwyer         |
| Title:                 | Chief Executive Officer |

<div align='center'>13

NOTICE OF EXERCISE</div>

To: NLS PHARMACEUTICS LTD.

Referring to article 3a and
3c, respectively, of the articles of association of NLS Pharmaceutics Ltd., a share company (Aktiengesellschaft) incorporated under
the laws of Switzerland with company registration number CHE-447.067.367 (the “Company”) and the capital band and the conditional
share capital for shareholders’ options, respectively, set out therein, and taking note of the fact that the Company is not obligated
to prepare and publish a prospectus within the meaning of the Swiss Financial Services Act with respect to the Warrant, the exercise therefore,
and the Warrant Shares,

(1) The undersigned hereby
elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and
tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

(2) Payment shall take the
form of (check applicable box):

| ☐ | in lawful money of the United States. |

| ☐ | if permitted the cancellation of