Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 757

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 757
---
. As of December 31, 2024, 2023, and 2022, there were no unrecognized tax benefits. If such matters were to arise, the Company would recognize interest and penalties related to income tax matters in income tax expense. The Company did not incur any material interest or penalties in connection with income taxes during the years ended December 31, 2024, 2023 and 2022.

Annex F-26 NLS PHARMACEUTICS LTD. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 12 Related party consulting agreements: The Company entered into consulting agreements with some of its senior management. In January 2017, and as subsequently amended in October 2020, the Company entered into a consulting agreement with CHG BioVenture SA, an entity controlled by Mr. Hervé Girsault, the Company’s former Head of Business Development. On May 1, 2021, for the continuation of Mr. Girsault’s engagement with the Company in his then current role. The Company agreed to pay CHG BioVenture SA a monthly fee of CHF 4,375($ 4,733) plus VAT for its services. In addition, CHG BioVenture SA was eligible for a 1% success fee payment in the event of closing of a partnering agreement in China. The consulting agreement was terminated in October 2024 and provides for a 24 -monthnon -competitionclause along with standard confidentiality provisions. For the years ended December 31, 2024, 2023 and 2022, the Company recorded fees to CHG BioVenture SA of $ 79,454, $ 121,658and $ 131,941, respectively, included in general and administrative expenses on the statement of operations and comprehensive loss. In February 2021, and as amended in July 2021, the Company entered into a consulting agreement with Mr. Eric Konofal, the Company’s current Chief Scientific Officer, pursuant to which the Company agreed to pay Mr. Konofal a daily rate of CHF 2,000for his services. The consulting agreement may be terminated by either party upon 30 days’ written notice or immediately by the Company in the event of a material breach by Mr. Konofal that cannot be cured. The consulting agreement contains customary confidentiality provisions and provides for an 18 -monthnon -solicitationclause as well as reimbursement for certain expenses.