Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 367

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 367
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As of December 31, 2024, the Company does not have any active employees
participating in a defined benefit pension plan. However, the Company continues to maintain a capped pension obligation related to survivor
benefits payable to orphans of a former employee. This obligation is fully covered by existing plan assets and does not give rise to any
unfunded liability. All other obligations and liabilities associated with the Company’s prior pension plan have been fully settled
and transferred. As a result, the Company has no net pension-related liability or associated pension expense recognized on its balance
sheet as of December 31, 2024.

The pension assets are measured at fair value
and are invested in a collective pension foundation with pooled investments. Plan assets mainly consist of cash and cash equivalents,
equity funds, equity securities, corporate bonds, government bonds, and real estate funds classified as Level 1 and Level 2 under the
fair value hierarchy.

The Company records net gains/losses, consisting
of actuarial gains/losses, curtailment gains/losses and differences between expected and actual returns on plan assets, in other comprehensive
income/loss. Such net gains/losses are amortized to the statements of operations to the extent that they exceed10% of the greater of
projected benefit obligations or pension assets. The Company further records prior service costs/credits from plan amendments in other
comprehensive income/loss in the period of the respective plan amendment and amortizes such amounts to the statement of operations over
the future service period of the plan participants. For the years ended December 31, 2024 and 2023, the amortization was $0. As of December
31, 2024, and 2023, the accumulated other comprehensive (income) loss includes unrecognized pension costs of $(108,853) and $158,073,
respectively.

The following table shows the components of unrecognized
pension cost in accumulated other comprehensive income/loss that have not yet been recognized as components of net periodic pension cost:

                                                               2024                     2023               
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net loss, beginning of period                                $           158,073      $         50,791   
  Other (gain)/loss during the period                                     ( 47,413                110,313  
  Other prior year (gain)/loss recognized in period                      ( 157,632                -