Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 286

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 286
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, as of the Closing, NLS shall, at Kadimastem’s expense (up to a maximum of $200,000), obtain a “run -off” prepaid directors’ and officers’ liability insurance policy for the benefit of NLS’s current and former officers and directors, effective as of the Closing, with a reporting period of six (6) years after the Closing, covering events, acts and omissions occurring before the Closing Date, and with coverage and amounts, and terms and conditions that are acceptable to NLS. The premium for such policy (up to a maximum of $200,000) shall be paid by Kadimastem on or prior to the Closing, and NLS shall take all necessary actions, and not fail to take any action, to prevent the cancellation of such policy during its term. Additionally, following the Merger, several agreements related to compensation for NLS’ officers and directors will go into effect, including: •The annual salary of Mr.Ronen Twito, Executive Chairman and CEO of Kadimastem of USD 370,188 (including social benefits) will increase to USD 413,743 upon the combined company completing a capital raise greater than $10million following the Merger and a bonus payment, subject to the discretion of the Board. Under the employment agreement with Kadimastem, Mr.Twito received 157,995 RSUs to be settled into such number of Kadimastem Ordinary Shares as provided under the agreement, vested over a two -yearperiod. The agreement includes acceleration provisions including at the Closing of the Merger. At the Closing of the Merger the unvested RSUs convert into RSUs of NLS, in accordance with the terms of the Merger Agreement. Under the employment agreement, upon the Closing of the Merger, Mr.Twito shall also be entitled to a bonus equal to the NIS equivalent of one hundred thousand US Dollars (US$100,000); •Mr.Kfir Molakandov’s, Kadimastem’s VP of Research and Development, annual salary will increase to a NIS amount equivalent to $173,333, including social benefits; •Mr.Ariel Revel’s, Director of Medical Affairs of Kadimastem, annual salary will increase to a NIS amount equivalent to $86,667, including social benefits; and •Each director on the board of NLS (1) shall receive an annual amount of $25,000, payable quarterly, and a one -timeoption grant equal