Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 20

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 20
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 advancement of expenses, for acts or omissions occurring at or prior to the Effective Time now existing in favor of the current or former directors or officers of NLS shall not survive the Merger and shall terminate as of the Closing. As of the Closing, NLS shall, at the 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 (the “D&O Run Off Policy”), with a reporting period of six years after the Closing, covering events, acts and omissions occurring before the Closing, and with coverage and amounts, and terms and conditions that are acceptable to NLS. The premium for the D&O Run Off 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 the D&O Run Off Policy during its term. The Merger Agreement requires the parties to consummate the Merger after all of the conditions to the transactions contemplated therein are satisfied or waived. Unless waived by NLS, the obligations of NLS and Merger Sub to consummate the Merger are subject to the satisfaction of the following additional conditions, in addition to customary certificates and other closing deliverables:

| ● | NLS shall have terminated the employment and engagement of all of its employees and consultants and paid                                    
 or otherwise satisfied all back pay, severance or termination pay, vacation pay and all other liabilities in respect of all such employment 
 and engagement;                                                                                                                             |

| ● | Nasdaq shall have rescinded its notice to NLS as to NLS’s failure to satisfy Nasdaq criteria for 
 listing and trade thereon;                                                                       |

| ● | NLS shall have at least $600,000 in gross funds (including cash in any of its bank accounts); |

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| ● | The (i) directors of NLS immediately prior to the Effective Time shall have resigned from their positions                                     
 (other than Mr. Zwyer), (ii) officers of NLS immediately prior to the Effective Time shall have resigned from their positions (other than     
 Mr. Konofal who shall remain in a part-time position with NLS), (iii) the executive officers of Kadimastem immediately prior to the