Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 119

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 119
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 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:                                                              |

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 in Lod, the TASE, and the Israel Securities Authority.             |

<div align='center'>F-43</div>

| B. | Kadimastem and NLS report on a private fundraising of up to USD $3 million for NLS and the signing 
 of a framework agreement for an investment of USD $25 million in NLS.                              |

On March 31, 2025, the Company, along
with NLS, announced an additional private fundraising round for NLS in the amount of USD $3 million at a share price of USD $1.65, reflecting
a premium of 10% over the NLS share price (hereinafter